Financial - Turkish Airlines

(Convenience Translation of Report and Financial Statements Originally Issued in Turkish)TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIESNotes to the Audited Consolidated Financial StatementsFor the Year Ended 31 December 2012(All amounts are expressed in Turkish Lira (TL) unless otherwise stated.)b.3.1) Foreign currency risk managementTransactions in foreign currencies expose the Group to foreign currency risk. The foreign currency denominated assetsand liabilities of monetary and non-monetary items are as follows:31 December 2012TL Equivalent TL Euro GBP Other1.Trade receivables 660.404.241 93.711.562 351.947.508 58.330.075 156.415.0962a.Monetary financial assets 34.601.987 4.841.781 28.829.747 158.610 771.8492b.Non monetary financial assets3.Other 184.577.753 137.194.090 30.325.674 632.795 16.425.1944.Current assets (1+2+3) 879.583.981 235.747.433 411.102.929 59.121.480 173.612.1395.Trade receivables - - - - -6a.Monetary financial assets - - - - -6b.Non monetary financial assets - - - - -7.Other 88.027.061 41.019.659 6.374.765 40.617.449 15.1888.Non current asstes (5+6+7) 88.027.061 41.019.659 6.374.765 40.617.449 15.1889.Total assets (4+8) 967.611.042 276.767.092 417.477.694 99.738.929 173.627.32710.Trade payables 602.781.028 421.214.368 96.829.947 10.664.330 74.072.38311.Financial liabilities 547.464.447 37.215.631 510.248.816 - -12a.Other liabilitites, monetary 35.808.560 13.729.271 12.513.007 319.513 9.246.76912b.Other liabilitites, non monetary 33.859.220 33.760.522 98.698 - -13.Current liabilities (10+11+12) 1.219.913.255 505.919.792 619.690.468 10.983.843 83.319.15214.Trade payables - - - - -15.Financial liabilities 4.481.085.105 400.618.948 4.080.466.157 - -16a.Other liabilitites, monetary 36.752.921 36.752.921 - - -16b.Other liabilitites, non monetary - - - - -17.Non current liabilities (14+15+16) 4.517.838.026 437.371.869 4.080.466.157 - -18.Total liabilities (13+17) 5.737.751.281 943.291.661 4.700.156.625 10.983.843 83.319.15219.Net asset / liability position of offbalancesheet derivatives (19a-19b) - - - - -19a.Off-balance sheet foreigncurrency derivative assets - - - - -19b.Off-balance sheetforeigncurrency derivative liabilities - - - - -20.Net foreign currency asset/(liability) position (9-18+19) (4.770.140.239) (666.524.569) (4.282.678.931) 88.755.086 90.308.17521.Net foreign currency asset /liability position of monetary items(UFRS 7.B23) (=1+2a+5+6a-10-11-12a-14-15-16a) (5.008.885.833) (810.977.796) (4.319.280.672) 47.504.842 73.867.79322.Fair value of foreign currencyhedged financial assets - - - - -23.Hedged foreign currency assets - - - - -24.Hedged foreign currencyliabilities - - - - -25.Exports 12.644.882.230 1.944.308.679 3.039.289.827 372.993.006 7.288.290.71826.Imports 4.490.581.439 3.155.191.192 31.266.879 697.737.895 606.385.47367