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 Convenience Translation into English of Consolidated Financial Statements Originally Issued in Turkish (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) 89 Çelebi Ground Handling Inc. 2019 Annual Report The redemption schedules of financial lease obligations as at December 31, 2019 and 2018 are as follows: December 31, 2019 December 31, 2018 Less than 1 year 93.959.280 487.611 Between 1-5 years 116.220.534 9.801.883 5 years and more 248.567.025 - 458.746.839 10.289.494 The remaining repricing periods for the Group’s floating interest rate borrowings as at December 31, 2019 and 2018 are as follows: December 31, 2019 December 31, 2018 Less than 3 months 24.992.112 8.196.296 Between 3-12 months 123.035.090 25.126.973 Between 1-5 years 94.175.417 177.147.752 242.202.619 210.471.021 Movement of financial liabilities for the period between January 1, 2019 and December 31, 2019 is as follows: 2019 2018 Beginning of the period- January 1 711.524.934 333.151.035 Addition in current year 339.884.116 379.549.694 Principal payments (326.438.040) (139.888.464) Interest payments (32.122.896) (13.583.125) Change in exchange differences 79.083.018 135.087.250 Change in interest accruals 30.283.523 17.208.544 Ending of the period- December 31 802.214.655 711.524.934 Movement of borrowings from lease obligations for the period between January 1, 2019 and December 31, 2019 are as follows: 2019 2018 As of January 1 10.289.494 8.201.771 Payables from leasing obligations created under TFRS 16 468.722.568 - Financial lease liabilities cancelled under TFRS 16 (10.073.530) - Interest expense 22.553.532 882.337 Rental payments (73.943.183) (1.945.999) Change in exchange differences 41.197.958 3.151.385 As of December 31 458.746.839 10.289.494