2002 Annual Report - Turkish Airlines
2002 Annual Report - Turkish Airlines 2002 Annual Report - Turkish Airlines
32 • 2002 TURKISH AIRLINES annual reportFX AND FX-BASED TRANSACTIONSOut of the Company’s total revenue of TL 2,392,179,802,771,160, a TL 2,145,798,051,120,690 portion was in, or convertible into, foreign currency.Foreign exchange expenses of Turkish Airlines during 2002 amounted to TL 1,313,954,721,717,860.Thus, the net foreign exchange contribution of Turkish Airlines to the Turkish economy has been TL 831,843,329,402,823. This corresponds to US$435,557,495 in terms of funds in or convertible to foreign exchange.The following table shows these figures in both Turkish lira and US dollar terms (using average exchange rates).Turkish Lira (Million)Years Revenues Expenses Difference1998 302,574,563.8 193,655,718.1 108,918,845.71999 473,154,508.7 354,239,739.1 118,914,769.62000 845,926,701.6 600,427,870.9 245,498,830.72001 1,647,000,951.9 1,265,809,494.8 381,191,457.12002 2,145,798,051.1 1,313,954,721.7 831,843,329.4US Dollar (Million)Years Revenues Expenses Difference1998 1,156.4 728.4 428.01999 1,133.4 831.7 301.72000 1,356.3 949.5 406.82001 1344.6 1025.4 319.22002 1297.4 861.9 435.5FX AND FX-BASED REVENUE AND EXPENSES (US$ MILLIONS)1,4001,2001,0008006004002000RevenueExpensesDifference19981999 2000 2001 2002Each year since 1994, Turkish Airlines has been presented the Best Exporter Award by the Istanbul Chamber of Commerce. The competition supportscompanies that earn the highest foreign exchange revenue in Turkey.Foreign exchange revenue in 2002 amounted to US$ 857,798,029.54.The following table shows the foreign exchange revenue of Turkish Airlines since 1994:FOREIGN EXCHANGE REVENUEAWARD YEAR YEAR / AMOUNT (US$) RANKING AWARD1995 1994 / 675,790,753.00 1 GOLD PLAQUE1996 1995 / 706,937,927.00 1 GOLD PLAQUE1997 1996 / 816,097,499.00 1 GOLD PLAQUE1998 1997 / 820,049,961.00 1 GOLD PLAQUE1999 1998 / 806,132,022.15 1 GOLD PLAQUE2000 1999 / 974,997,975.50 1 GOLD PLAQUE2001 2000 / 937,813,179.11 1 GOLD PLAQUE2002 2001 / 901,124,924.63 1 GOLD PLAQUE
2002 • 33SUMMARY OF ANNUAL RESULTS 2001-200202/01COMPARATIVE SUMMARY OF RESULTS 2001 2002 CHANGE %FINANCIAL RESULTS REVENUESTicket revenues 1,367,857,533,205,020 1,711,743,688,200,690 25.1Excess Baggage Revenues 12,504,666,577,487 13,529,606,328,524 8.2Mail Revenues 5,025,725,456,276 8,679,421,170,227 72.7Cargo Revenues 160,118,818,895,006 225,513,197,598,246 40.8Charter Revenues 20,237,057,048,493 37,479,129,392,963 85.2Pilgrimage Revenues 47,331,738,437,982 39,800,658,955,513 (15.9)Other Revenues 52,160,686,493,232 134,873,731,005,660 158.6Income and Profit From Other Operations 159,125,631,171,066 196,467,307,397,581 23.5Extraordinary Revenues and Profit 111,054,386,860,137 24,093,062,721,756 (78.3)TOTAL REVENUES 1,935,416,244,144,700 2,392,179,802,771,160 23.6EXPENSESDirect Operating Expenses 545,603,530,770,351 620,190,679,331,082 13.7Passenger Service Expenses 92,487,703,499,255 130,058,123,790,113 40.6Direct Maintenance Expenses 151,254,380,990,576 196,046,701,004,643 29.6Manufacturing Overhead Expenses 653,394,028,093,310 712,471,320,147,021 9.0Marketing Sales & Distribution Expenses 278,681,074,494,944 365,550,180,726,589 31.2General Administrative Expenses 115,815,786,410,348 128,095,531,334,836 10.6Other Operating Expenses 31,845,837,972,251 131,755,069,619,678 313.7Financial Expenses 21,417,159,086,256 249,207,754,588 (98.8)Extraordinary Expenses and Loss 24,973,438,667,991 7,961,280,921,765 (68.1)TOTAL EXPENSES 1,915,472,939,985,280 2,292,378,094,630,310 19.7Profit (or Loss) 19,943,304,159,416 99,801,708,140,846 400.4Taxes and statutory obligations (32,398,092,373,228) -NET PROFIT-LOSS 19,943,304,159,416 67,403,615,767,618 238.0TRAFFICAvailable Seat-Kms 24,889,653,667 24,071,004,377 (3.3)Revenue Passenger-Kms 15,679,266,179 16,593,898,265 5.8Number of Revenue Passenger 10,277,423 10,382,909 1.0Cargo Carried (Tons) 104,778 118,587 13.2Passenger Load Factor (%) 63 69 9.5Hours Flown 253,871 242,506 (4.5)Number of Landings 109,028 102,607 (5.9)Kms Flown 143,616,679 138,056,860 (3.9)Post Carried (Tons) 4,648 5,999 29.1AVERAGE VALUES FOR ALL FLIGHTS(PASSENGER AIRCRAFT)Average Number of Revenue Passenger per aircraft 151,139 152,690 1.0Average Daily Flights Time per Aircraft 10:11 10:06 (0.8)Employees per Aircraft 165 168 1.6Passenger Carried per Flight 94 101 7.3Passenger per Employee 914 924 1.0Average Speed (Km/Hour) 566 569 0.6Average Flight Distance (Km.) 1,317 1,345 2.1
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<strong>2002</strong> • 33SUMMARY OF ANNUAL RESULTS 2001-<strong>2002</strong>02/01COMPARATIVE SUMMARY OF RESULTS 2001 <strong>2002</strong> CHANGE %FINANCIAL RESULTS REVENUESTicket revenues 1,367,857,533,205,020 1,711,743,688,200,690 25.1Excess Baggage Revenues 12,504,666,577,487 13,529,606,328,524 8.2Mail Revenues 5,025,725,456,276 8,679,421,170,227 72.7Cargo Revenues 160,118,818,895,006 225,513,197,598,246 40.8Charter Revenues 20,237,057,048,493 37,479,129,392,963 85.2Pilgrimage Revenues 47,331,738,437,982 39,800,658,955,513 (15.9)Other Revenues 52,160,686,493,232 134,873,731,005,660 158.6Income and Profit From Other Operations 159,125,631,171,066 196,467,307,397,581 23.5Extraordinary Revenues and Profit 111,054,386,860,137 24,093,062,721,756 (78.3)TOTAL REVENUES 1,935,416,244,144,700 2,392,179,802,771,160 23.6EXPENSESDirect Operating Expenses 545,603,530,770,351 620,190,679,331,082 13.7Passenger Service Expenses 92,487,703,499,255 130,058,123,790,113 40.6Direct Maintenance Expenses 151,254,380,990,576 196,046,701,004,643 29.6Manufacturing Overhead Expenses 653,394,028,093,310 712,471,320,147,021 9.0Marketing Sales & Distribution Expenses 278,681,074,494,944 365,550,180,726,589 31.2General Administrative Expenses 115,815,786,410,348 128,095,531,334,836 10.6Other Operating Expenses 31,845,837,972,251 131,755,069,619,678 313.7Financial Expenses 21,417,159,086,256 249,207,754,588 (98.8)Extraordinary Expenses and Loss 24,973,438,667,991 7,961,280,921,765 (68.1)TOTAL EXPENSES 1,915,472,939,985,280 2,292,378,094,630,310 19.7Profit (or Loss) 19,943,304,159,416 99,801,708,140,846 400.4Taxes and statutory obligations (32,398,092,373,228) -NET PROFIT-LOSS 19,943,304,159,416 67,403,615,767,618 238.0TRAFFICAvailable Seat-Kms 24,889,653,667 24,071,004,377 (3.3)Revenue Passenger-Kms 15,679,266,179 16,593,898,265 5.8Number of Revenue Passenger 10,277,423 10,382,909 1.0Cargo Carried (Tons) 104,778 118,587 13.2Passenger Load Factor (%) 63 69 9.5Hours Flown 253,871 242,506 (4.5)Number of Landings 109,028 102,607 (5.9)Kms Flown 143,616,679 138,056,860 (3.9)Post Carried (Tons) 4,648 5,999 29.1AVERAGE VALUES FOR ALL FLIGHTS(PASSENGER AIRCRAFT)Average Number of Revenue Passenger per aircraft 151,139 152,690 1.0Average Daily Flights Time per Aircraft 10:11 10:06 (0.8)Employees per Aircraft 165 168 1.6Passenger Carried per Flight 94 101 7.3Passenger per Employee 914 924 1.0Average Speed (Km/Hour) 566 569 0.6Average Flight Distance (Km.) 1,317 1,345 2.1
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