12 Months Financial Report - Turkish Airlines

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER, 20099 OTHER FINANCIAL LIABILITIESShort-term other financial liabilities of the Group are as follows:31 December 2009 31 December 2008Fair value of derivative instruments (Note 39) 45.232.172 44.360.335Borrowings from banks 846.771 639.91646.078.943 45.000.251Debt to banks account consists of overnight interest-free borrowings obtained for settlement ofmonthly tax and social security premium payments.10 ACCOUNTS RECEIVABLE AND PAYABLEShort-term trade receivables are as follows:31 December 2009 31 December 2008Trade receivables 455.045.487 381.445.533Due from related parties (Note 37) 32.128.286 4.741.388Allowance for doubtful receivables (41.791.892) (37.042.788)445.381.881 349.144.133The Group provided provision for the receivables carried to legal proceedings and for the othersby making historical statistical calculations. Movement of the doubtful receivables for the periodended 31 December 2009 and 2008 are as follows:1January - 1 January -31 December 2009 31 December 2008Opening Balance 37.042.788 21.405.019Current period expense 22.513.003 20.707.670Bad debts collected (15.357.120) (4.895.781)Receivables written-off (2.406.779) (174.120)Closing Balance 41.791.892 37.042.788Explanations about the credit risk of Group’s receivables are provided in Note 38 Credit Risk.Short-term trade payables are as follows:31 December 2009 31 December 2008Trade receivables 536.177.325 425.068.449Due from related parties (Note 37) 22.663.149 9.433.149Other 1.961.004 607.613560.801.478 435.109.21132