12 Months Financial Report - Turkish Airlines

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER, 200936 EARNINGS PER SHAREEarnings per share disclosed in the consolidated statements of income are determined by dividing the netincome by the weighted number of shares that have been outstanding during the period concerned.In Turkey, companies can increase their share capital by making a pro-rata distribution of shares (“bonusshares”) to existing shareholders from retained earnings. For the purpose of earnings per sharecomputations, such bonus shares are regarded as issued shares. Accordingly, the weighted averagenumber of shares outstanding during the years has been adjusted in respect of bonus shares issued withouta corresponding change in resources, by giving them retroactive effect for the period in which they wereissued and for each earlier year.Earnings per share is calculated by dividing net profit by weighted average number of shares outstandingin the relevant period.Number of total shares and calculation of earnings per share at 31 December 2009 and 2008 areas follows:1 January- 1 1 January-31 December 2009 31 December 2008Number of shares outstanding at 1 January 17.500.000.000 17.500.000.000New shares issued (in full) 70.000.000.000 70.000.000.000Number of shares outstanding at December31 (in full) 87.500.000.000 87.500.000.000Weighted average number of sharesoutstanding during the period (in full) 87.500.000.000 87.500.000.000Net profit for the period 559.076.280 1.134.226.211Earnings per share (kr) (*) 0,64 1,30(*)The earnings per share with par value of TL 1 is TL 0, 64 in December 2009; TL 1, 3 in December 2008.37 RELATED PARTY TRANSACTIONSShort-term trade receivables from related parties (Note 10) are as follows:31 December 2009 31 December 2008P & W T.T Uçak Bakım Merkezi 26.705.625 -Bosnia Herzegovina Airlines 3.729.488 -Sun Express 1.074.744 646.191THY DO&CO İkram Hizmetleri A.Ş. 616.912 4.095.197TGS 1.517 -32.128.286 4.741.38859