12 Months Financial Report - Turkish Airlines

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER, 20098 FINANCIAL BORROWINGS (Cont’d)Long-term financial borrowings are as follows:31 December 2009 31 December 2008Bank loans 14.187.801 -Finace lease obligations 2.561.711.482 2.798.005.2352.575.899.283 2.798.005.235The details of short-term part of long-term bank loans as of 31 December 2009 are as follows:Maturity Interest Rate Currency Original Amount Interest Accrual TL17.10.2011 Libor+3,50% USD 9.422.728 167.002 14.439.256The details of long-term bank loans as of 31 December 2009 are as follows:Maturity Interest Rate Currency Original Amount Interest Accrual TL17.10.2011 Libor + 3,50% USD 9.422.728 - 14.187.801The details of short-term bank loans as of 31 December 2009 are as follows:Maturity Interest Rate Currency Original Amount Interest Accrual TL15.08.2009 Libor+1,25% USD 22.937.732 139.945 34.900.371Financial lease obligations are as follows:31 December 2009 31 December 2008Less than 1 year 469.617.973 480.276.603Between 1 – 5 years 1.438.363.567 1.566.966.270Over 5 years 1.548.610.096 1.778.034.6123.456.591.636 3.825.277.485Less: Future interest expenses (497.052.569) (642.883.392)Principal value of future rentalsstated in financial statements 2.959.539.067 3.182.394.093Interest Range:Floating rate obligations 1.133.986.718 1.221.791.915Fixed rate obligations 1.825.552.349 1.960.602.1782.959.539.067 3.182.394.093As of 31 December 2009, the US Dollars and Euro denominated lease obligations’ weighted averageinterest rates for the fixed rate obligations are 4,91% (31 December 2008: 4,90 %) and for the floatingrate obligations are 0,78% (31 December 2008: 1,93%).31