ÇELEBİ HAVA SERVİSİ ANNUAL REPORT 2024

ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ VE BAĞLI ORTAKLIKLARI 89 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 e) Associates are accounted for using the equity method. Equity participation (%) 31 December 2024 31 December 2023 DASPL 24,99 24,99 2.3 Going concern The Group has prepared the consolidated financial statements based on the assumption that the entity will continue its operations for the foreseeable future. 2.4 Comparative Information and Restatement of Financial Statements from Previous Periods To enable the identification of financial position and performance trends, the Group’s current period consolidated financial statements are prepared comparably with the previous period. In order to ensure consistency with the presentation of the current period consolidated financial statements, comparative information is reclassified when necessary. 2.5 New and Revised Turkish Financial Reporting Standards The accounting policies used in the preparation of the consolidated financial statements for the period ending on 31 December 2024, have been applied consistently with those used in the previous year, except for the new and revised TFRS and TFRS interpretations effective as of 1 January 2024, summarized below. The effects of these standards and interpretations on the Group’s financial position and performance are explained in the relevant paragraphs. i) New Standards, Amendments, and Interpretations Effective from 1 January 2024 Amendments to IAS 1- Classification of Liabilities as Current or Non-current In March 2020 and January 2023, the KGK made amendments to IAS 1 to establish criteria for the classification of liabilities as current or non-current. According to the changes made in January 2023, if an entity has the right to defer the payment of a liability based on meeting the terms of a credit agreement after the reporting period, the entity has the right to defer the payment of the liability as of the reporting period’s end (even if it does not meet the terms by the reporting period’s end). When a liability arising from a credit agreement is classified as non-current, and the entity’s right to defer payment depends on meeting the terms of the credit agreement within 12 months, the January 2023 amendments require entities to make certain disclosures. These disclosures should include information about the terms of the credit agreement and the related liabilities. Additionally, the amendments clarify that regardless of whether compliance with the contract terms will be tested at the reporting date or at a later date, the right to defer payment must exist as of the reporting period’s end for the classification as non-current. The amendments explicitly state that the likelihood of the entity not exercising its right to defer payment beyond at least twelve months after the reporting period will not affect the classification of the liability. The amendments are applied retroactively in accordance with IAS 8. The mentioned change has not had a significant impact on the Group’s financial position or performance. Amendments to TFRS 16 - Lease Liabilities in Sale and Leaseback Transactions In January 2023, KGK published amendments to TFRS 16. These amendments set out the provisions for measuring lease liabilities arising from sale and leaseback transactions in a way that ensures no gain or loss is recognized related to the right-of-use asset retained. Accordingly, after the sale and leaseback transaction has actually commenced, the seller-lessee, when applying the TFRS 16 provisions under the heading “Subsequent Measurement of Lease Liabilities,” will determine the “lease payments” or “revised lease payments” without recognizing any gain or loss related to the retained right of use. The amendments do not contain specific provisions for the measurement of lease liabilities arising from sale and leaseback. The initial measurement of the lease liability may lead to different payments being considered lease payments than those included in the definition of lease payments in TFRS 16. The seller-lessee will need to develop and apply an accounting policy under IAS 8 to provide reliable and appropriate information. The seller-lessee applies the amendments retroactively to sale and leaseback transactions entered into after the initial adoption of TFRS 16 according to IAS 8. The mentioned change has not had a significant impact on the Group’s financial position or performance.