ÇELEBİ HAVA SERVİSİ ANNUAL REPORT 2024

ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ VE BAĞLI ORTAKLIKLARI 119 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) Çelebi Ground Handling 2024 Annual Report Since the legislation was changed on 23 May 2002, there are certain transitional provisions relating to length of service prior to retirement. The amount payable as of 31 December 2024 consists of one month’s salary limited to a maximum of TL 41.828,42 (31 December 2022: TL 23.489,83) for each year of service. The liability is not funded, as there is no funding requirement. In accordance with local regulations in India, the Group is required to make employee termination benefit payments to each employee in its subsidiaries, joint ventures and associate, who has completed five years of service, who is called up for military service, who achieves the retirement age, who early retires, or who dies. Turkish Financial Reporting Standards require actuarial valuation methods to be developed to estimate the enterprise’s obligation under defined benefit plans. The principal assumption is that the maximum liability for each year of service will increase in line with inflation. Thus, the discount rate applied represents the expected real rate after adjusting for the anticipated effects of future inflation. The Group calculates the reserve for employment termination benefits every six months the maximum amount of TL 46.655,43 which is effective from 1 January 2025 (1 January 2024: TL 35.058,58) has been taken into consideration in the calculations. Movements in the provision employment termination benefits for the period between 1 January 2024 - 31 December 2024 are as follows: 31 December 2024 31 December 2023 As of 1 January 331.796.796 150.871.653 Interest cost 47.873.666 19.648.134 Service cost 79.865.165 60.026.818 Actuarial loss 8.384.843 159.137.817 Payments during the period (90.483.877) (100.645.429) Purchase effect (Note 2) 40.382.165 - Foreign currency translation differences 34.955.495 42.757.803 As of period end 452.774.253 331.796.796 Movements in the provision for unused vacation rights for the period between 1 January 2024 - 31 December 2024 are as follows: 31 December 2024 31 December 2023 As of 1 January 65.813.803 38.745.670 Payments of provisions during the period (12.619.403) (6.332.844) Increase in unused vacation rights during the period 65.917.599 26.140.363 Foreign currency translation differences 13.188.043 7.260.614 As of period end 132.300.042 65.813.803