12 Months Financial Report - Turkish Airlines

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TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER, 200938 NATURE AND LEVEL OF RISKS DERIVED FROM FINANCIAL INSTRUMENTS (Cont’d)b.1)Credit Risk Management(Cont’d)Credit Risk of <strong>Financial</strong> InstrumentsTrade receivablesReceivablesOther receivables31 December 2008 Related Party Third Party Related Party Third PartyDeposits inBanksDerivativeInstrumentsMaximum credit risk as of balance sheet date (*) 4.741.388 344.402.745 67.386 84.415.453 1.891.728.775 39.599.159The part of maximum risk under guarantee with collateral etc. (**) - 7.506.082 - - - -A. Net book value of financial assets that areneither past due nor impaired4.741.388 314.650.601 67.386 84.415.453 1.891.728.775 39.599.159B. Net book value of financial assets that are renegotiated,if not that will be accepted as past due or impairedC. Net book value of financial assets that are past due but- - - ---not impaired - 29.752.144 - - - --The part under guarantee with collateral etc. - 2.318.741 - - - -D. Net book value of impaired assets - - - - - --Past due (gross carrying amount) - 37.042.788 - - - --Impairment(-) - (37.042.788) - - - --The part of net value under guarantee with collateral etc. - - - - - --Not past due (gross carrying amount) - - - - - --Impairment (-) - - - - - --The part of net value under guarantee with collateral etc. - - - - - -E.Off-balance sheet items with credit risk - - - - - -(*)The factors that increase in credit reliability such as guarantees received are not considered in the balance.(**)Guarantees consist of the guarantees in cash & letters of guarantee obtained from the customers63
TÜRK HAVA YOLLARI ANONİM ORTAKLIĞINOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER, 200938 NATURE AND LEVEL OF RISKS DERIVED FROM FINANCIAL INSTRUMENTS (Cont’d)(b) <strong>Financial</strong> Risk Factors (cont’d)b.1) Credit risk management (cont’d)The risk of a financial loss for the Group due to failing of one of the parties of the contract to meet itsobligations is defined as credit risk.The Group’s credit risk is basically related to its receivables. The balance shown in the balance sheet isformed by the net amount after deducting the doubtful receivables arisen from the Group management’sforecasts based on its previous experience and current economical conditions. Because there are so manycustomers, the Group’s credit risk is dispersed and there is not important credit risk concentration.64
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12 Months Financial Report - Turkish Airlines

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