ÇELEBİ AR19-270720 (1)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2019 ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) Convenience Translation into English of Consolidated Financial Statements Originally Issued in Turkish 86 Çelebi Ground Handling Inc. 2019 Annual Report Summary of financial statments of the investment accounted by using the equity method Summary of financial statements of Çelebi Nas is as follows: December 31, 2019 December 31, 2018 Total Assets 397.992.569 340.587.418 Total Liabilities 190.109.655 191.429.738 January 1 - December 31, 2019 January 1 - December 31, 2018 Revenue 252.758.947 177.375.530 Net Profit/(Loss) For the Period 41.069.940 35.741.793 Summary of financial statements of DASPL is as follows: December 31, 2019 December 31, 2018 Total Assets 41.245.139 44.129.002 Total Liabilities 4.690.905 10.586.487 January 1 - December 31, 2019 January 1 - December 31, 2018 Revenue 50.646.746 41.299.106 Net Profit/(Loss) For the Period 5.539.573 12.000.729 NOTE 7 - SHORT TERM AND LONG TERM FINANCIAL LIABILITIES Short term financial liabilities: December 31, 2019 Effective interest rate (%) Original balance TL Short term borrowings: INR Borrowings 8,80-9,75 227.352.736 18.943.030 TL Borrowings - 2.478.408 2.478.408 21.421.438 Short-term finance lease obligations USD finance lease obligations 10.822 64.283 INR finance lease obligations 89.336.618 7.443.527 EUR finance lease obligations 11.107.981 73.874.736 TL finance lease obligations 8.503.315 8.503.315 HUF finance lease obligations 202.456.213 4.073.419 Total short-term finance lease obligations (*) 93.959.280 (*) TL 93.894.997 of the short term lease payables consists of the discounted lease amounts in accordance with TFRS 16 effective as of January 1, 2019.