TÜRK HAVA YOLLARI A.O.

NAME Turk Hava Yollari A.O. COMPANY ADDRESS Ataturk Havalimani, 34830 Yesilkoy, Istanbul COMPANY TEL. / FAX (212) 463 63 63 Fax : (212) 465 21 21 GENERAL MANAGER Doç.Dr.Temel KOTİL SECTOR Airlines TAKEN INTO PRIVATIZATION PORTFOLIO 22 .08.1990 CAPITAL (PAID) 1.000.000.000 TL SHARE HOLDING STRUCTURE % 49,12 Public (Privatization Administration) % 50,88 Private NET PROFIT / LOSS (2008) 873 million USD Profit  (average exchange rate: 1,2994)   NET PROFIT / LOSS (2009) 361 million USD Profit  (average exchange rate: 1,5467)   NET PROFIT / LOSS (2010) 190 million USD Profit  (average exchange rate: 1,5058)   NUMBER OF EMPLOYEES (2010) 14.206 MARKET SHARE (2010) % 28 International Flights   % 27 Domestic Flights    SUMMARY OF PRIVATIZATION IMPLEMENTATION In December 2004, 23% of the shares were offered to public and the Administration’s shareholding structure reduced to 75,18 %. In May 2006, 28,75% of the shares were offered to public and the Administration’s shareholding structure reduced to 49,12 %. NOTE:

INFORMATION Turkish Airlines was founded under Law No.2186 in Ankara on May 20,1933,under the name "State Airlines Administration"as a Department of the Ministry of Defense. Its administration was later turned over to the Ministry of Public Works in 1935 and the name was changed to "General Directorate of State Airlines"in 1938.From 1939 onwards,it was operated under the Ministry of Transportation. Turkish Airlines was reorganized under Law No.6623 in 1955 as a corporation managed and operated under private law,and was renamed "Türk Hava Yolları Anonim Ortaklığı"(Turkish Airlines Inc.). The Company was reclassified as a "State Economic Enterprise" by Statutory Decree No.233 on Certain State Institutions and Enterprises,which was published in the Official Gazette No.18570 on November 9,1984. The Company was included within the scope of the privatization by the Council of Ministers Decree No.90/822 dated August 22,1990, published in the Official Gazette No.20646 on September 25, 1990. Under Article 35 of Law No. 4046 on Regulation of Privatization Procedures and the Amendment of Certain Statutory Decrees published in the Official Gazette No.22124 on November 27,1994,Turkish Airlines was redefined as a State Economic Enterprise and placed under the jurisdiction of the Privatization Administration. The Privatization High Council decided to establish golden share in Articles of Association granting special management and approval rights to the State on 08.12.2000 No.2000/87. Articles of Association, which is still in force, has been amended in compliance with Article 20/a of the aforementioned law on 17.01.2003 including the new scope of golden share.

akabaktepe@oib.gov.tr