Dear Passengers,

We leave another year with all its sorrows and joys behind. In December last year I spoke to you of the crisis affecting the world aviation sector and our national carrier as a result of global terrorism in 2001, the worst year in the history of world aviation, and explained that we would make every effort to overcome these problems in 2002. In our globalising world, in which competition is becoming ever fiercer, every airline has taken measures to survive under these difficult conditions. While many airlines have maintained operations with state support, unfortunately some have declared bankruptcy.

Thanks to the dedication of our personnel and the support of our esteemed passengers, Turkish Airlines has come through this difficult period without compromising your safety or service quality. By means of a successful policy of crisis management, THY has achieved one of the highest revenue levels recorded by world airlines over this period. We wish to thank you for your support, without which this achievement would have been impossible. During the last month of 2002 the most important religious festival of the Islamic world, the Ramazan Festival, will be celebrated, as well as the Jewish Hanuka and Christian Christmas festivals. We hope that these events will be an opportunity to convey messages of peace to the entire world.

Our target for the year 2003 is to further perfect Turkish Airlines' services and operations for the safety and happiness of our passengers. The Turkish Airlines family wishes you and your loved ones a happy, healthy and successful new year.

Yusuf BOLAYIRLI
President and CEO