Operating revenues are comprised of passenger revenues, cargo and mail, and other operating revenues. The following table shows disaggregated operating revenues for the years ended as December 31, 2023, 2022 and 2021.


	2023		2022		2021
Passenger revenue
Passenger revenue	$	3,263,764	$	2,793,420	$	1,388,089
Miles redeemed	52,597		31,299		24,301
	3,316,361		2,824,719		1,412,390

Cargo and mail revenue	97,105		101,765		71,577

Other operating revenue
Frequent flyer program - marketing services	37,930		28,396		18,897
Other operating revenue	5,608		10,153		7,067
	43,538		38,549		25,964
	$	3,457,004	$	2,965,033	$	1,509,931

The significant contract liabilities are comprised of ticket sales for transportation that has not yet been provided, recorded as “Air traffic liability” and outstanding loyalty program miles that may be redeemed for future travel, recorded as “Frequent flyer deferred revenue”.


	2023		2022
Balance at beginning of year	$	651,805	$	557,331
Sales	3,722,763		3,320,260
Revenue recognition	(3,076,635)		(2,623,256)
Tax recognition	(547,206)		(450,541)
Reimbursements	(84,033)		(105,508)
Interline tickets	(52,675)		(52,496)
Other	(2,163)		6,015
Balance at end of year	$	611,856	$	651,805

The contract duration of passenger tickets is one year. Accordingly, any revenue associated with tickets sold for future travel dates will be recognized within twelve months.

The table below presents the activity of the current and non-current frequent flyer liability:


	2023		2022
Balance at beginning of year	$	111,526	$	95,114
Deferred of revenue	65,887		47,711
Recognition of revenue	(52,597)		(31,299)
Balance at end of year	$	124,816	$	111,526
Current	55,062		55,292
Non-current	69,754		56,234
	$	124,816	$	111,526

The Company’s business activities are conducted as one operating segment – Air transportation (that includes cargo and mail revenue), the reporting results of which are regularly reviewed by management for purposes of analyzing its performance and making decisions about resource allocations. Information concerning operating revenue by geographic area for the period ended December 31 is as follows:


	2023		2022		2021
North America	$	1,328,504	$	957,730	$	428,457
South America	1,233,362		1,094,450		557,827
Central America	796,679		819,534		475,590
Caribbean	54,921		54,770		22,093
	$	3,413,466	$	2,926,484	$	1,483,967

The Company attributes revenue to the geographic areas based on point of sales. Our tangible assets and capital expenditures consist primarily of flight and related ground support equipment, which is mobile across geographic markets and, therefore, has not been allocated.