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IATA Traffic Flows Between Regions

Schd. Passenger Total Revenue (2013F) (2013F) 3.1 671 Billion Billion USD
Schd. Passenger
Total Revenue
(2013F)
(2013F)
3.1
671
Billion
Billion USD

Percentage of Total Scheduled Revenue Passenger-Kilometres Source: IATA Watts (published in 2012), IATA Financial Forecast March 2013

Industry Aircraft Delivery and Financing Outlook

Capital Providers Export Credit Agencies Commercial Banks Lessors Public Debt /Capital Markets Private Equity /
Capital Providers
Export Credit Agencies
Commercial Banks
Lessors
Public Debt /Capital
Markets
Private Equity / Hedge
Funds
Tax Equity
Airframe and Engine
Manufacturers

Source: Boeing, Goldman Sachs

Fleet Development

Total of 8.4 Billion USD financing has been done.

415

7 Fleet Group A/C New Orders 74 A330 20 Wide Body B777 20 A320 CEO/NEO
7
Fleet Group
A/C
New Orders
74
A330
20
Wide Body
B777
20
A320 CEO/NEO
117
Narrow Body
B737 NG/MAX
95
Total
252
235
9
202
179
7 45
158
6 36
334
133
5 35
127
29
103
102
20 4
18 4
85
1
18
17 2
155
17 1
159
138
124
105
109
%76
84
83
67 %24
%14
%1
%25
%5
%19
%13
%17

2005

2006

2007

83 67 %24 %14 %1 %25 %5 %19 %13 %17 2005 2006 2007 2008 Narrow Body

2008

Narrow Body

%1 %25 %5 %19 %13 %17 2005 2006 2007 2008 Narrow Body 2009 2010 W i

2009

2010

Wide Body

2007 2008 Narrow Body 2009 2010 W i d e B o d y 2011 Cargo

2011

Cargo

2012

2013

2020

Seat Capacity

2000

2005

2010

2015

2020

CAGR

12k

15k

28k

51k

80k

10 %

4

Financial Development / Revenue & Operating Profit (Million USD) (Million USD) Total Revenue Operating Profit
Financial Development / Revenue & Operating Profit
(Million USD)
(Million USD)
Total Revenue
Operating Profit
700
11800
585
571
600
494
9800
500
9749
389
7800
8318
400
255
247
215 7072
5800
300
5448 299
200
4719
3800
100
4552
3737
100
2834
1800
2318 70
60
1539
1362
1961
1898
1964
0
-200
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
-100
-2200
-200
-151
-216
-300
-4200

Pax Revenue Split by Geography

Domestic Far East 14% 22% Middle East 13% Europe 33% Africa America 8% 10%
Domestic
Far East
14%
22%
Middle
East
13%
Europe
33%
Africa
America
8%
10%
Middle East 13% Europe 33% Africa America 8% 10% ** 2013F :Forecasted 30 20 10 0

** 2013F :Forecasted

30

20

10

0

Ebitdar Margin % 22.9 22.3 20.2 17.5 16.5 15.9 14.1 AVG (2006-2012):19% 2006 2007 2008
Ebitdar Margin %
22.9
22.3
20.2
17.5
16.5
15.9
14.1
AVG (2006-2012):19%
2006
2007
2008
2009
2010
2011
2012

5

Turkey and Turkish AirlinesGrowth

2002 2012 Passenger Growth Rates

275%

227% 79%
227%
79%

world

tr

tk

Next 20 years,

World passenger traffic (RPK) growth

rate %4.7

Population growth rate %0.9

Source : IATA Financial Forecast, ICAO 2011, Airbus GMF 2012

30%

25%

20%

15%

10%

5%

0%

-5%

RPK Growth % 30% 27% 23% 19% 19% 19% 15% 27p 15% 17% 13% 14%
RPK Growth %
30%
27%
23%
19%
19%
19%
15%
27p
15%
17%
13%
14%
9%
6%
6%
6%
6%
5%
4%
3%
2%
2%
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
-2%
-1%
3M
-3%

-4%

World RPK Growth THY RPK Growth Linear (World RPK Growth) Linear (THY RPK Growth)
World RPK Growth
THY RPK Growth
Linear (World RPK Growth)
Linear (THY RPK Growth)

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Global Rankings

1
1

TK is flying to more countries than any other airline in the world.

4
4

TK is the 4 th largest airline in terms of network size

Airline Domestic International Total 229 152 381
Airline
Domestic
International
Total
229
152
381

UNITED AIRLINES DELTA AIRLINES AMERICAN AIRLINES TURKISH AIRLINES

218

169

39

102 100 190
102
100
190

320

269

229

Source: OAG (2013 May)

3 rd Airport in ISTANBUL

76.5 million km 2

Area

500

Aircraft Park Positions (Pahse 2)

150 million

PASSENGERS CAPACITY (Phase2)

A candidate for

3 rd Biggest (After Phase 1)

& Biggest (After Phase 2)

in the World

CAPACITY (Phase2) A candidate for 3 r d Biggest (After Phase 1) & Biggest (After Phase
CAPACITY (Phase2) A candidate for 3 r d Biggest (After Phase 1) & Biggest (After Phase

Network Development

2002 THY Network 103 Destinations (26 Dom, 77 Int)Network Development 2013 - Current 125 New Destinations (Dom 13, Int 113) Planned Destinations (32 Destinations)

2013 - Current 125 New Destinations (Dom 13, Int 113) Planned Destinations (32 Destinations)
Planned Destinations (32 Destinations)2013 - Current 125 New Destinations (Dom 13, Int 113)

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Financing Alternatives and Outlook

         

EETC

 

ECA (2nd Category)

JOLCO

Operational

Unsecured Bond

(2-Tranches

Sukuk

Blended)

Tenor

12 years

9.5 years

10 years

5 10 years

9 11 years

5 7 years

Cost

%3.6 - %4.3

%3.3 - %3.8

%7.5 - %8

%4.5 - %5.5

%4 - %5

%4.5 - %5.5

Transition: ECA

Commercial, New ASU increased ECA premiums, Limited ECA credit lines

Heading Towards :

More diversified sources of financing

Paralel to the industry transition, less dependent on conventional financing methods (ECA, EXIM), more towards commercial financing sources and capital markets (EETC, unsecured bond)

Focus on longer term financing (up to 14 years)

Focus on managing maturity risk, debt service in line with operational cash generation