12 Months Financial Report - Turkish Airlines
12 Months Financial Report - Turkish Airlines 12 Months Financial Report - Turkish Airlines
TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER, 200924 EMPLOYEE BENEFITS (Cont’d)Movement in the provision for retirement pay liability is as follows:1 January- 1 January-31 December 2009 31 December 2008Provisions at the beginning of the period 142.459.082 131.959.011Charge for the period 15.405.411 17.941.602Interest charges 8.870.209 8.260.634Actuarial loss /(gain) 2.080.775 (2.847.655)Payments (16.939.915) (12.854.510)Provisions at the end of the period 151.875.562 142.459.08225 RETIREMENT BENEFITSNone (31 December 2008: None).26 OTHER ASSETS AND LIABILITIESDetails of other current assets are as follows:31 December 2009 31 December 2008Credit note accruals for received aircrafts 34.479.378 40.861.407Prepaid taxes and funds 33.751.118 58.951.175Prepaid operating lease expenses 19.410.997 11.010.997Technical maintenance income accruals 18.049.297 5.438.006VAT to be refunded 9.825.050 5.469.834Prepaid sales commissions 9.418.953 8.832.684Prepaid insurance expenses 5.197.278 5.676.306Advance given for orders 3.788.745 4.649.039Other prepaid expenses 3.543.305 4.668.513Interline passenger income accruals 3.409.593 8.073.217Advances for business purposes 903.082 1.005.304Prepaid wet lease rent expenses - 5.345.647Other currents assets 1.896.961 3.581.299143.673.757 163.563.42845
TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER, 200926 OTHER ASSETS AND LIABILITIES (Cont’d)Other non-current assets are as follows:31 December 2009 31 December 2008Prepayment for tangible assets 45.347.530 74.096.755Maintenance reserves for engines 26.581.865 18.171.033Peşin ödenen uçak finansman giderleri 7.543.182 7.197.530Prepaid aircraft financing expenses 2.776.711 3.175.779Prepaid Eximbank guarantee and exposure fee 1.183.491 2.618.689Prepaid expenses 139.175 234.72583.571.954 105.494.511Other short-term liabilies are as follows:31 December 2009 31 December 2008Accruals for maintenance costs 98.389.811 69.099.738Unearned revenue from share transfer of TGS(Note:16) 11.300.000 -Other unerarned revenue 5.534.473 430.965Incentive premium accruals 5.049.461 4.603.716Accruals for other expenses 2.142.564 369.934Other liabilities 79.703 7.251.639Manufacturer’s credit related toaircrafts to be received-9.926.677122.496.012 91.682.669Other long-term liabilities are as follows:31 December 2009 31 December 2008Unearned revenue from share transfer of TGS(Note:16) 45.200.000 -Other unerarned revenue 5.904.110 -Gross manufacturer’s credits 39.419.630 39.289.960Accumulated depreciations of manufacturer’scredit(11.517.414) (8.168.227)79.006.326 31.121.733Passenger flight liabilities are as follows:31 December 2009 31 December 2008Frequent flyer program liability 124.222.967 98.946.996Flight liability generating from ticket sales 282.983.563 253.091.354Flight liability generating from mileage sales 179.318.749 135.355.647586.525.279 487.393.99746
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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER, 200924 EMPLOYEE BENEFITS (Cont’d)Movement in the provision for retirement pay liability is as follows:1 January- 1 January-31 December 2009 31 December 2008Provisions at the beginning of the period 142.459.082 131.959.011Charge for the period 15.405.411 17.941.602Interest charges 8.870.209 8.260.634Actuarial loss /(gain) 2.080.775 (2.847.655)Payments (16.939.915) (<strong>12</strong>.854.510)Provisions at the end of the period 151.875.562 142.459.08225 RETIREMENT BENEFITSNone (31 December 2008: None).26 OTHER ASSETS AND LIABILITIESDetails of other current assets are as follows:31 December 2009 31 December 2008Credit note accruals for received aircrafts 34.479.378 40.861.407Prepaid taxes and funds 33.751.118 58.951.175Prepaid operating lease expenses 19.410.997 11.010.997Technical maintenance income accruals 18.049.297 5.438.006VAT to be refunded 9.825.050 5.469.834Prepaid sales commissions 9.418.953 8.832.684Prepaid insurance expenses 5.197.278 5.676.306Advance given for orders 3.788.745 4.649.039Other prepaid expenses 3.543.305 4.668.513Interline passenger income accruals 3.409.593 8.073.217Advances for business purposes 903.082 1.005.304Prepaid wet lease rent expenses - 5.345.647Other currents assets 1.896.961 3.581.299143.673.757 163.563.42845
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