15.12.2006
Corporation has signed its first code share agreement with Lufthansa under the preliminary agreement signed with Star Alliance. As a result of the agreement current 100 destinations of the Corporation will be increased to 231. Code share flights will take place between two country and flight schedules will be compatible with each other according to the first agreement signed with Lufthansa one of the Star Alliance member, which will be effected in 2007 Summer Schedule on March 25th, 2007. The agreement will benefit THY’s passenger by providing more frequency and more destinations from Frankfurt, Munich, Istanbul and Ankara. Frequent Flyer members of both airlines will be able to earn and use the miles at both airlines.
Furthermore, THY passengers will have opportunity to fly to Atlanta, Boston, Dallas, Denver, Detroit, Houston, Los Angeles, Miami, Philadelphia, Portland, San Francisco, Washington, Charlotte in North America and later on to many destinations in Far East, Middle East and Europe. Passengers of Lufthansa will have opportunity to fly to 27 destinations such as Bishkek, Karachi, Tashkent, Duşanbe, Damascus, Tabriz and later to Turkiye, Near East and Middle East.
01.12.2006
THY Technic, which is owned 100% by THY, has signed Memorandum of Understanding (MOU) with Pratt & Wittney, which is one of the group corporations of United Technologies Corporation, to establish a engine repair center at Sabiha Gokcen Airport. According to the MOU JV will be established if the negotiation has finalized with in the 6 months period. The Center is planning to be in operation in 2008 if JV has established in due time.
19.10.2006
The Board of Directors has decided to assign its 3 thousand seats to University students on domestic flights within the 29 destinations on the 83rd Anniversary of the establishment of The Republic of Turkey. Accordingly, round trip ticket will be issued to 1500 first university students who will call to our 444 0 849 reservation number as of October 20th, 2006 @ 15:00 local time. University students who are lucky to receive ticket can only use it betweent October 29 – November 5, 2006.
18.10.2006
Traffic results for the period of January - September 2006 are as follows.
During the period of Jan-Sep 2006 total passenger carried has increased by 18.6% reaching to 12.817.127 from 10.809.564 for the same period of 2005.
Number of Landing which was 94.533 for the period of Jan-Sep 2005 has increased to 113.483 (+20%) change for the same period of 2006 . ASK with 23.2% increase reached to 27.412.247.000 from 22.244.449.000 and RPK with 16.9% increase reached to 19,107,131,000 from 16,349,286,000 during the Jan-Sep 2006 period.
103,889 ton Cargo/Mail carried in 2005 increased by 10.6% to 114.913 ton for the same period of 2006.
17.10.2006
Our Board of Directors has decided to sign `Transfer of Assets Agreement` as the guarantor whcih will be signed between THY Do & Co Catering Service AS and USAS. THY Do & Co Catering Service AS will pay to USAS 68.000.000 TL (VAT not included) according to the `Transfer of Assets Agreement`. USAS will continue its operations,except airline catering operation, with its remaining assets and personnel.
05.10.2006
MOU was signed with Singapore Technologies Aerospace (ST Aerospace) to start negotiations and discussions regarding to the MRO Center (HABOM) which will be established at Pendik Kurtköy Sabiha Gökçen Airport.
However since JV Agreement is not signed with in the 12 months period after the MOU is signed, MOU has no longer valid according to the applicable articles of the MOU.
25.09.2006
Discussion regarding to take-over USAS’s catering service assets by THY DO&CO Catering Services AS has started and memorandum of understanding agreement is signed.
18.09.2006
18.09.2006
The Protocol which was signed between Turkish Airlines and The Republic of Turkey, Defence Secretary Division on December 3, 2004 regarding to the establishment of MRO Center at Istanbul Sabiha Gokcen Airport has been transferred to Turkish Airlines Technic AS as of September 15, 2006. The Republic of Turkey Defence Secretary Division and THY Technic has resigned the same Protocol on September 15, 2006. HABOM Project will be the responsibility of THY Technic.
07.09.2006
The Board of Directors Meeting held on 06.09.2006 it was decided to set up a catering company after cancelling tenders for catering services. The details of the company will be decided in the next Board of Directors Meeting.
17.08.2006
On 16.08.2006 media it was published that as per Air Transport Workers Union’s decision THY’s crew will not perform their duties for one day for the reason of not feeling suitable to operate and flights will not operate for one day.
Air Transportation operations take place based on the domestic an international regulatory organizations’ rules. It is the sector that is being audit continuously. Flight and rest hours as well as other matters of the crews in our Country have been auditing by the Civil Aviation Authorities systematically and continuously. It not a subject one airline can act agains these regulations. Turkish Airlines is acting cautiously based on the rules and regulations and takes all necessary steps related to flight security. Flight safety is the most important matter in air transportaion. Thus, as the flag carrier of our Country, Turkish Airlines never compromises and pays utmost attention to flight safety of its employees and passengers.
16.08.2006
It was announced on July 21th, 2004 that according to the fleet plan of the Company it was decided that 5 Widebody as A330/200; 12 Narrowbody as A321-200 ; 19 Narrowbody as A320-200 total of 46 Narrowbody will be provided from Airbus Company and 15 B737-800 from Boeing Company.
Out of 59 aircraft , 18 aircraft part of 23 aircraft to be delivered in 2006 already joined the fleet. The tender for Financial and Operational Lease options has been completed among the international and domestic financial institution without the guarantee of the Republic of Turkey.
As the result of the tender, 5 B737-800 which are planned to be delivered in August 2006 Financial Lease Agreement is signed under the United States Eximbank guarantee for the period of 12 years with the terms and conditions at lower then EURIBOR and delivery of these aircraft are completed.
04.08.2006
As per Board of Directors’ meeting held on 04.08.2006, after the analyzing and valuation of the documentations, based on the competition advantage, material gain, more opportunity to expand and short and long term strategic goals of the Corporation, it was decided to start discussions with Star Alliance to become a member
03.08.2006
As we have announced on 29.05.2006 that the establishment of Turk Hava Yollari Teknik AS has started as per Privatization Administration approval letter dated 04.05.2006 numbered 487 subject to such establishment procedures shall be according to the 4046 Privatization Law and capital in-kind shall not exceed the 15% of total asset of THY as of 31.03.2006 balance sheet. Türk Hava Yolları Teknik A.Ş., 100% owned by THY, has been established and registered to trade registry on 23.05.2006 with the capital in kind valued at 271.325.800 New TL which is mainly aircraft components and aircraft spare parts.
It was decided by the Capital Market Board meeting on 24/03/2006 date and 13/358 agenda number that Valuation Report , which shall cover the market value of the new corporation Turkish Airlines Technical AS, not later then 3 months after the General Assembly voted for the establishment of such corporation in order to inform the share holders and public.
As per decision Valuation Report regarding to the capital-in-kind in the amount of 271.325.800 TL has been done by TSKB Gayrimenkul Değerleme A.Ş.. According to the Valuation Report the market value of the subject capital is indicated as 336.112.846 TL (223.627.975 USD).
27.07.2006
Catering tender which was announced on 12/07/2006 that will be held on 27/07/2006 has been rescheduled to 08/08/2006 at 10:00 a.m. due to insufficient participation.
TO THE SHARE HOLDERS OF TURKISH AIRLINES
On July 19th, 2006 The Board of Directors of our Incorporation has decided to hold an Extraordinary General Assembly of Shareholders on August 23rd, 2006 at 10:00 hours at the General Management Building located at Ataturk Airport, Bakirkoy Istanbul in order to discuss and vote for the Agenda indicated below .AGENDA
1- Opening statement and appointment of the Board of Assembly
2- Voting to authorize the board of asembly to sign the minutes of the meeting
3- Voting for the ınıtıatıon of a lawsuıt ın accordance wıth the Artıcle 341 of the Turkish Commercial against the previous Board of Directors Mr.Cem KOZLU, Yusuf BOLAYIRLI, Sühan ÖZKAN, Önder DOĞU, Ahmet ERTUĞRUL, Tolga AKGÜN and Mehmet GOK, as a result of the Report dated May 10th, 2006 prepared by the auditors of Finance Ministry, as informed to the Incorporation by the letter of the Grand National Assembly of Turkey dated June 29th, 2006 with 5641 number,
4- Attandce Fee of the Board of Directors and Auditors
5- Recommendations and closing statement.
12.07.2006
It was announced on 12.06.2006 that catering tender which was held during April 28th – May 29th, 2006 has been cancelled and renewal, terms and other matters are being evaluated by the Board of Directors. Thus,catering tender will take place on 27.07.2006 and all details regarding to the tender will be published on our web site.
06.07.2006
It was announced on July 21th, 2004 that according to the fleet plan of the Company it was decided that 5 Widebody as A330/200; 12 Narrowbody as A321-200 ; 19 Narrowbody as A320-200 total of 46 Narrowbody will be provided from Airbus Company and 15 B737-800 from Boeing Company.
Out of 59 aircraft 16 of them already joined the fleet. For the aircraft will be delivered in 2006, the tender for Financial and Operational Lease options has been completed among the international and domestic financial instutions without the guarantee of the Republic of Turkey.
As the result of the tender, a Financial Lease Agreement is signed under the ECA Guarantee (for the aircraft: one A321 and one A330 which will be delivered in July and one A321 which will be delivered in August ) for the period of 12 years for the 85% and 10 years for the 15% with the terms and conditions much lower then the market at Libor minus.
27.06.2006
On April 24th, 2006 we have informed that 2 A319/100 will be leased. We have leased the aircraft from ILFC (International Lease Finance Corporation) and lease agreement will be terminated at the end of April 2012.
12.06.2006
Because of the news at the media that our Company will establish a catering company, it became necessary to make the following announcement;
Catering tender which was held during April 28th – May 29th has been cancelled because the price level set by the Company has not been accomplished. Renewal of the tender, terms and other matters are being evaluated by the Board of Directors.
02.06.2006
Request to take advantage of transfer benefit of Mr. Halil TOKEL, Executive Vice President (Commercial), has been forward to the Privitazation Administration and first degree signature of Mr. Tokel has been cancelled by the Board of Directors
30.05.2006
As we have announced on 08.05.2006 that the establishment of Turk Hava Yollari Teknik AS has started as per Privatization Administration approval letter dated 04.05.2006 numbered 487 subject to such establishment procedures shall be according to the current regulations and law and capital in-kind shall not exceed the 15% of total asset of THY as of 31.03.2006 balance sheet. Türk Hava Yolları Teknik A.Ş., 100% owned by THY, has been established and registered to trade registry on 23.05.2006 with the capital in kind valued at 271.325.800 New TL which is mainly aircraft components and aircraft spare parts. 2.374 personnel have been transferred to the new Company. The legal address of the Company is Atatürk Hava Limanı B Kapısı 34149 Yeşilköy-İstanbul and objectives and field of activity of the Company ; to purchase, sell, lease, rent, produce, repair aircraft, aircraft equipment, any and all kinds of equipment and devices related with air transportation and to establish and operate hangars, warehouses, repair and supply facilities in order to provide maintenance and safeguard thereof;
30.05.2006
Mr. Naci AGBAL has been appointed as the Board of Director Auditor to the position vacant due to the resignation of Mr. Hasan GUL.
24.05.2006
The fire took place today in the afternoon at the Istanbul Airport C Terminal has not jumped and not caused any damage to the Cargo building of Turkish Airlines.
The Fire has not effected our aircraft in the fleet and our scheduled flights will be continued without any change. We took necessary cautions to disregard any problem that our passengers might face due to the fire.
17.05.2006
As we have explained on our reply to Mr. Mustafa Mutlu’s article published in Vatan Gazete on 14.5.2006 our Company is under investigation together with other airlines who operates to USA. However THY has not fixed the fee as it is claimed. After the investigation, if it is determined that THY was indeed act as it is claimed then the officers who are directly involved in such act will be responsible. It is not true that previous management or the current management will be responsible for the act and flights to USA will be suspended and THY license will be revoked as it is indicated in the article.
16.05.2006
The article with the title `THY is in trouble` published in Vatan Gazetesi on 14.05.2006 indicates that THY has received court order from the USA Ministery of Justice stating that THY together with British Airways, Lufthansa and Singapour Airlines are accused of price fixing on cargo to USA and under investigation according to the antitrust law .
It is known by the public that USA Ministry of Finance, antitrust division and European antitrust authorties has started investigation on air cargo price fixing simultaneously in the States and Europe against Lufthansa, British Airways, American Airlines, United Airlines and Scandinavian Airlines System beginning of 2006. As part of this investigation, USA District of Colombia Court has requested documents and informations related to air cargo prices from THY on April 6, 2006 . We have learned that THY is the among other airlines Airfrance-KLM, Air Canada, Japan Airlines, Singapore Airlines that received such court order. We are in co-operation with USA and European antitrust authorites related to this issue.
08.05.2006
As we have announced previously on April 28, 2006 we have requested approval from the Privitization Administration to establish TECHNIC AS, 100% owned by Turkish Airline. The Privitization Administration with the letter dated May 4, 2006 number 487 has given the approval to establish the new company subject to comply with the laws and regulations related to administrative, financial, personnel, operational etc during the establishment procedures and the operation of TECHNIC A.S. Turkish Airlines will contribute 271.325.800 TL to TECHNIC A.S. as capital in kind, which are mainly aircraft parts and components and value is the book value of THY’s assets as of March 31, 2006. 2.323 personnel will be transferred to new company. With the establishment of TECHNIC A.S. Turkish Airlines will be able to concentrate on its core business carrying passenger to compete with very competitive international enviroment in order to increase its profitibility for both companies
01.05.2006
01.05.2006
We have announced on 28th of November 2005 that a decision was taken by the Board of Directors to send a request for the Privatization Administration’s approval on the establishment of three new companies THY HABOM A.S.`, THY TEKNIK A.S. , THY EGITIM A.S. which are 100% owned by THY `
On 28th of April, 2006 our Board of Directors, after the evaluation, has decided to send a request for the establishment of THY TEKNIK AS owned 100% by THY and Capital that THY will place in THY TEKNIK AS either in cash or capital in-kind will not exceed 15% of THY’s latest total assets.
24.04.2006
Our Board of Directors has decided at the meeting held on 21.04. 2006 , subject to the approval of the Privitazation Administration, to lease 2 A319-100 aircraft for a period of 6 years. The authority is given to the General Manager to negotiate and process all the necessary documents as well as signing the Lease Agreement.
21.04.2006
At the Annual General Assembly Meeting of Türk Hava Yolları Anonim Ortaklığı was held on April 21st, 2006
The release of the members of the Board of Directors was unanimously accepted by the participants.
The release of the members of the Board of Auditors was also unanimously accepted by the participants.
The balance sheet and profit/loss calculations made in accordance with the Capital Markets Board legislation were used as the basis of distribution of profit and the decision of the Board of Directors which resolved to set off the profit of the 2005 of the Incorporation with the loss of previous years and not to distribute any profit was accepted unanimously
The proposal submitted by the representatives of the Privatization Administration regarding the election of the members of Board of Directors and Board of Auditors was rehearsed and voted by the General Assembly. In accordance with the proposal and subject to the approval of the Ministry of Finance; Dr. Candan KARLITEKIN (Chairman of the Board of Directors), Hamdi TOPÇU, Temel KOTİL Ph.D, Hüseyin Atilla ÖKSÜZ, Prof. Dr. Cemal ŞANLI, Prof. Dr. Oğuz BORAT, Mehmet BÜYÜKEKŞİ were elected as the members of the Board of Directors and İsmail GERÇEK, Hasan GÜL and Ateş VURAN were elected as the auditors by the unanimous votes of the attendants.
The Chairman of the Assembly informed the shareholders that no donation was made within 2005 in accordance with the letter of the Capital Markets Board dated February 27th , 2004 and numbered 3253.
Minutes of the Annual General Assembly meeting and the Attendance List is attached.
06.04.2006
Our Board of Directors at the mmeting held on 05/04/2006, has decided to change the status of the shares listed on the attached list owned by the Privitization Administration to `Blank Endorsment` in order to circulate at the Capital Market . Furthermore, Company will not increase its paid in capital for the period of six months as of the shares listed at the Capital Market Board after the privitization process is completed.
23.03.2006
Due to the Agreements signed between THY and other jet fuel suplliers for the abroad airports will be expired as of April 30, 2006 THY has decided to open a tender in order to purchase its fuel at the lowest unit cost for the period of 1 year starting April 30th 2006 ‘till May 1st 2007.
01.03. 2006
Subject to the approval of the Privitization Administration, our Board of Director has taken a decision at the meeting took place on 28/02/2006 to appoint current CFO, Rengin AKILLIOGLU as the Director of Chicago Office and appoint Coskun KILIC as the new CFO.
Background of COŞKUN KILIÇ:
Graduated from Ankara University, Department of Economics in 1991.. In 1992, joined the Ministry of Finance as Assistant State Auditor , then became State Auditor in 1995. In 2000, earned Master Degree in Finance from Urbana Champaign Illinois University, USA. Because of his experience in the field for 10 years he automatically earned the title as Certified Public Accountant. In 2004, held the position as the Director at the Ministry of Finance General Directorate of Revenues. Currently Mr. Kilic is working as the Executive Vice President and member of the board at The Republic of Turkey, Retirement Fund General Directorate, has several articles published and conferences held in taxation and insurance matters.
22.02. 2006
An e-mail is being circulated by an e-mail address `Didem Se` stating that
`Air France is offering 2,5 billion USD for 51% of THY’s share. Negotiation with the Privatization Administration continues. This information is obtained from the Board of Director of THY`
Our Board of Directors do not have the knowledge of such information and such information is not given by the Board.
25.01. 2006
The sale of 1,026,000 USAS shares at the Capital Market with face value of 1,026,000 TL, which was decided by the Board of Directors on January 6, 2006 has been completed as of today.
25.01. 2006
100,568 shares with face value of 100,568 TL of USAS is sold at the capital market with the price range of 6,95 – 7,00 TL. Click here for detail.
25.01. 2006
The news published at Air Transport Intelligence web site, stating that `Turkish Airlines is seeking to purchase 8 firm, 7 optional total of 15 aircraft with 70-90 seat capacity` is nottrue. Thus in the details of our Board of Director’s interview, such news has not been confirmed.
24.01. 2006
230,000 shares with face value of 230,000 TL of USAS is sold at the capital market with the price range of 6,75 – 6,90 TL. Click here for detail.
23.01. 2006
The news published at Transport Magazine indicating that `Turkish Airlines’ first activity in the beginning of the first year will be joining an Alliance` is not reflecting the truth.
23.01. 2006
352,932 shares with face value of 352,932 TL of USAS is sold at the capital market with the price range of 6,55 – 6,70 TL. Click here for detail.
09.01. 2006
The Board of Director has decided to sell the shares of USAS (Ucak Servisi A.S.) which is the 3% of USAS’s capital share with face value of 1,026,000 TL. The authorization to complete the sale has given to the General Manager.
09.01. 2006
The Board of Director has decided to sell the shares of USAS (Ucak Servisi A.S.) which is the 3% of USAS’s capital share with face value of 1,026,000 TL. The authorization to complete the sale has given to the General Manager.
02.01. 2006
According to the Article 2 of the Share Assignment Agreement which is signed by Turkish Airlines and Gate Gourment Holding AG (main holder of USAS who has won the catering tender of THY) 1.25% of USAS’s capital share equals to 427,500 shares with face value of 427,500 TL has been assigned to THY. After the assignment THY is holding 6% of USAS capital share with face value of 2,052,000 TL