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IATA Traffic Flows Between Regions
Percentage of Total Scheduled Revenue Passenger-Kilometres
Total Revenue (2013F)
671 Billion USD
Schd. Passenger (2013F)
3.1 Billion
2
Source: IATA Watts (published in 2012), IATA Financial Forecast March 2013
3
Industry Aircraft Delivery and Financing Outlook
Source: Boeing, Goldman Sachs
Capital Providers
Export Credit Agencies
Commercial Banks
Lessors
Public Debt /Capital Markets
Private Equity / Hedge Funds
Tax Equity
Airframe and Engine Manufacturers
Fleet Development
4
6784 83
97 100 100116
14115215
18 17
1820
29
35
36
41
89
24
22
18
17
1
1 2
44
5
6
9
9
83
103 102
127133
158
179
204
219
2005 2006 2007 2008 2009 2010 2011 2012 2013
DAR GÖVDE GENİŞ GÖVDE AJET KARGO
%24 %1 %25 %5 %19 %13 %7%14
6784 83
97 100 100116
14115215
18 17
1820
29
35
36
41
89
24
22
18
17
1
1 2
44
5
6
9
9
83
103 102
127133
158
179
204
219
2005 2006 2007 2008 2009 2010 2011 2012 2013
DAR GÖVDE GENİŞ GÖVDE AJET KARGO
%24 %1 %25 %5 %19 %13 %7%14
Narrow Body Wide Body Cargo
6784 83
97 100 100116
14115215
18 17
1820
29
35
36
41
89
24
22
18
17
1
1 2
44
5
6
9
9
83
103 102
127133
158
179
204
219
2005 2006 2007 2008 2009 2010 2011 2012 2013
DAR GÖVDE GENİŞ GÖVDE AJET KARGO
%24 %1 %25 %5 %19 %13 %7%14
67 84 83 105 109 124 138 159
155
334
17 18 17
18 20 29
35 36
45
74
1 1 2
4 4
5 6
7
9
7
85 103 102
127 133 158
179 202
235
415
2005 2006 2007 2008 2009 2010 2011 2012 2013 2020
%24 %1 %25 %5 %19 %13
%76 %14 %17
Seat Capacity
2000 2005 2010 2015 2020 CAGR
12k 15k 28k 51k 80k 10 %
Fleet Group A/C New Orders
Wide Body A330 20
B777 20
Narrow Body A320 CEO/NEO 117
B737 NG/MAX 95
Total 252
Total of 8.4 Billion USD financing has been done.
** 2013F :Forecasted
Financial Development / Revenue & Operating Profit
5
Europe 33%
Far East 22%
Domestic 14%
Middle East 13%
America 10%
Africa 8%
Pax Revenue Split by Geography
15.9
22.3 20.2
22.9
16.5 14.1
17.5
0
10
20
30
2006 2007 2008 2009 2010 2011 2012
AVG (2006-2012):19%
Ebitdar Margin %
(Million USD)
1539 1362 1961 1898 1964 2318 2834
3737 4719 4552
5448
7072
8318
9749
-216 -151
255 247
100
70 60
389
571
494
299
215
585
-4200
-2200
-200
1800
3800
5800
7800
9800
11800
-300
-200
-100
0
100
200
300
400
500
600
700
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Total Revenue Operating Profit
(Million USD)
Turkey and Turkish Airlines’ Growth
6
RPK Growth %
-4%
2%
-2%
14%
6% 6%
4%
2%
-1%
9%
6% 5%
3%
6%
-3%
15% 15%
19% 19%
13% 17%
19%
23%
27% 30%
-5%
0%
5%
10%
15%
20%
25%
30%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 3M
World RPK Growth THY RPK Growth
Linear (World RPK Growth) Linear (THY RPK Growth)
27p
79%
227%
275%
world tr tk
2002 – 2012 Passenger Growth Rates
Next 20 years, World passenger traffic (RPK) growth
rate %4.7 Population growth rate %0.9
Source : IATA Financial Forecast, ICAO 2011, Airbus GMF 2012
Global Rankings
TK is flying to more countries than
any other airline in the world.
TK is the 4 th largest airline in terms
of network size
1 4
Source: OAG (2013 May)
7
Airline Domestic International Total
UNITED AIRLINES 229 152 381
DELTA AIRLINES 218 102 320
AMERICAN AIRLINES 169 100 269
TURKISH AIRLINES 39 190 229
3rd Airport in
ISTANBUL
76.5 million km2
Area
500 Aircraft Park Positions (Pahse 2)
150 million PASSENGERS CAPACITY (Phase2)
A candidate for
3rd Biggest (After Phase 1)
& Biggest (After Phase 2)
in the World
8
2002 THY Network 103 Destinations (26 Dom, 77 Int)
Planned Destinations (32 Destinations)
2013 - Current 125 New Destinations (Dom 13, Int 113)
Network Development
9
Financing Alternatives and Outlook
ECA
(2nd Category) JOLCO Operational Unsecured Bond
EETC (2-Tranches
Blended) Sukuk
Tenor 12 years 9.5 years 10 years 5 – 10 years 9 – 11 years 5 – 7 years
Cost %3.6 - %4.3 %3.3 - %3.8 %7.5 - %8 %4.5 - %5.5 %4 - %5 %4.5 - %5.5
Transition: ECA Commercial, New ASU increased ECA premiums, Limited ECA credit lines
Heading Towards : More diversified sources of financing Paralel to the industry transition, less dependent on conventional financing methods (ECA,
EXIM), more towards commercial financing sources and capital markets (EETC, unsecured bond)
Focus on longer term financing (up to 14 years) Focus on managing maturity risk, debt service in line with operational cash generation
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