2002 Annual Report - Turkish Airlines

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76 • 2002 TURKISH AIRLINES annual reportTURKISH AIRLINES INC.NOTES TO THE FINANCIAL STATEMENTS / continued(all figures are restated to TL money values at December 31, 2002 pursuant to IAS 29)6- MARKETABLE SECURITIESMarketable securities consist of the following:December 31, 2002 December 31, 2001TL 000,000 TL 000,000France Telecom 15,583,979 17,028,880Diminution in Value of France Telecom (9,661,305) (739,903)Repurchase Agreements 3,850,000 -9,772,674 16,288,977The interest rate of the repurchase agreement is 35.88% and its maturity is January 2, 2003.7- ACCOUNTS RECEIVABLE (Net)Accounts receivable consist of the following:December 31, 2002 December 31, 2001TL 000,000 TL 000,000Trade Receivables 143,554,894 133,239,442Provision for Doubtful Receivables (21,485,859) (19,181,368)122,069,035 114,058,0748- DUE FROM RELATED PARTIESDue from related parties consists of the following:December 31, 2002 December 31, 2001TL 000,000 TL 000,000Günefl Ekspress Havac›l›k A.fi. (SUN EXPRESS) 1,007,121 267,553Turkish Republic Privatization Administration (*) 10,240,960 -Uçak Servisi A.fi. (USAfi) 7,044 -Sita 1,135,708 1,244,505THY SRL 108,141 35,963Due from Related Parties Short-term 12,498,974 1,548,021(*) The interest rate applied to receivable from Turkish Republic Privatization Administration is 40%9- INVENTORIESInventories consist of the following:December 31, 2002 December 31, 2001TL 000,000 TL 000,000Spare Parts, Flight Equipment 62,890,015 47,448,407Other Inventories 8,868,985 10,632,14071,759,000 58,080,547
2002 • 77TURKISH AIRLINES INC.NOTES TO THE FINANCIAL STATEMENTS / continued(all figures are restated to TL money values at December 31, 2002 pursuant to IAS 29)10- OTHER RECEIVABLES AND CURRENT ASSETSOther receivables and current assets consist of the following:December 31, 2002 December 31, 2001TL 000,000 TL 000,000VAT Receivable 88,835 49,319Tax to be Refunded 2,868,057 636,496Third Party Maintenance Service Income Accrual 3,362,514 -Receivable due to Cancellation of A Type Handling License 11,587,347 -Prepaid Operating Lease Expenses 5,710,162 10,672,332Prepaid Sales Commissions 3,501,164 10,181,962Prepaid Fee of A Type Handling License - 8,928,539Deposits Given to Petrol Ofisi A.fi. 3,824,102 -Prepaid Rent 663,560 615,519Other Prepaid Expenses 3,716,424 5,044,324Receivable from Aircraft Manufacturers 1,146,895 1,216,850Receivable from Personnel 588,577 76,673Business Advances 314,920 68,516Restriction on Transfer of funds from Banks (*) 13,349,559 12,046,156Other Receivables 2,066,419 2,025,11952,788,535 51,561,805* The restriction on transfer of funds from banks is related to funds held at banks in Iran and Libya and are classified in other receivables as they canbe transferred to Turkey or used for payment of expenses in related sales bureaus within a period more than 3 months but less than a year.11- ADVANCES GIVENAdvances given consist of the following:December 31, 2002 December 31, 2001TL 000,000 TL 000,000a) Short-Term:Pre-delivery Payments to be Refunded in the following year - 20,315,169Total Short-Term Advances Given - 20,315,169b) Long-TermPre-delivery Payments for Aircraft 7,190,402 10,076,875Deposits Given for Operational Leases Operational Leases 15,537,259 18,399,993Other Deposits Given 2,110,318 2,383,781Total Long-Term Advances Given 24,837,979 30,860,649
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contentsHighlights of the Year 2002
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2002 • 05utilization also went up
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2002 • 11flight and traffic devel
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There are two multi-purpose total a
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Passengers who purchase ticketsfor
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2002 Annual Report - Turkish Airlines

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