There are some news in the media implying that our Incorporation is taking actions against a bank.
Treasury operations of Turkish Airlines are executed within the procedures set by the Board and are conducted over many domestic and international banks, in accordance with their credibility and risk profiles. Continuously following the developments in the domestic and international money markets, the Incorporation constantly overviews the credit lines and working principles with all banks and makes necessary revisions. In view of the latest fluctuations in the money markets, especially the sharp increases in the foreign exchange rates, our Incorporation is taking the necessary liquidity oriented actions in order to meet short term FX and TRY liabilities.
The Board of Directors and the representatives acting on behalf of the Incorporation always act as ‘prudent businessmen’ . The events and the numbers stated in the news article do not reflect the truth and currently Turkish Airlines has a cash balance in the aforementioned bank.
Within the scope of Capital Markets Legislation, providing deceiving, false or misleading information, news and comments, or publishing these with an aim to influence the value or price of capital market instruments or investors' decision is considered as Market Manupulation. In this context, all corporations and institutions have to show sensitivity to publish correct news and avoid any information, news, comments or evaluations that has not been approved by the Incorporation. Those who act against will be under legal and criminal liability.