ACTIVITY RATIOSRECEIVABLE TURNOVER = Annual Net Credit Sales/ReceivablesTurkish Airlines Pegasus-2015 -201528752/8156=3,5 34882/5260=6,6-2016 -201629468/6126=4,8 37074/3520=10,5-2017 -201739779/5773=6,9 53485/3157=1720152016201700.020.040.060.080.10.120.140.160.120.050.150.10.030.09Receivable TurnoverTURKISH AIRLINESPEGASUSAs we can see from the data and graph, we can say that pegasus has a high quality customer who is quick to pay its debts and is very efficient. We can say that Pegasus has a conservative policy for extending the loan. On the other hand, the pegasus’s policy may be too conservative if it is too tight in extending credit, which can drive away potential customers and give business to competitors. In this case, a company may want to loosen policies to improve business, even though it may reduce its receivables turnover ratio.In the other hand Turkish Airlines's may have poor collecting processes, a bad credit policy or none atall, or bad customers or customers with financial difficulty. Theoretically, a low ratio can also often mean that the company has a high amount of cash receivables for collection from its various debtors, should it improve its collection processes.