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Consolidated statement of cash flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net profit $ 514,097 $ 348,054 $ 43,844
Adjustments for:      
Income tax expense 97,005 40,176 10,486
Finance cost 158,216 87,631 76,234
Finance income (50,208) (18,030) (10,849)
(Reversal) impairment of non financial assets 0 0 (5,441)
Depreciation and amortization 306,114 267,704 239,946
Disposal of non financial assets 847 (2,458) 4,260
Impairment of financial assets (201) 2,408 1,516
Allowance for obsolescence 0 80 30
Share-based compensation expense 4,359 5,155 7,097
Net change in fair value of derivatives 98,347 (17,189) 22,778
Unrealized loss on investment (6,338) 4,252 274
Net foreign exchange differences 11,117 25,330 44,853
Change in:      
Accounts receivable (27,199) (51,318) (35,645)
Accounts receivable from related parties (359) (336) (403)
Other current assets (23,145) (47,436) (4,599)
Other assets (7,219) (10,874) (6,786)
Accounts payable 19,143 46,982 49,285
Accounts payable from related parties 224 (6,945) 4,978
Air traffic liability (39,950) 94,474 86,636
Frequent flyer deferred revenue 13,289 16,413 3,901
Other liabilities 40,266 33,317 6,450
Cash from operating activities 1,108,405 817,390 538,845
Income tax paid (55,414) (26,353) (3,904)
Interest paid (50,931) (44,761) (40,170)
Interest received 42,726 12,267 12,514
Net cash from operating activities 1,044,786 758,543 507,285
Investing activities      
Acquisition of investments (644,909) (763,842) (1,117,214)
Proceeds from redemption and sale of investments 698,580 749,576 1,001,268
Advance payments on aircraft purchase contracts (200,000) (377,670) (276,939)
Reimbursement of advance payments on aircraft purchase contracts 228,111 105,381 70,800
Acquisition of property and equipment (600,175) (254,561) (206,795)
Proceeds from sale of property and equipment 5,095 7,426 81,336
Acquisition of intangible assets (29,697) (18,461) (11,591)
Net cash used in investing activities (542,995) (552,151) (459,135)
Financing activities      
Payment of convertible notes (350,001) 0 0
Proceeds from new borrowings 428,310 222,481 352,278
Payments on loans and borrowings (152,254) (249,519) (142,233)
Payment of lease liability (79,999) (79,017) (80,992)
Repurchase of treasury shares (105,932) (167,639) (40,514)
Dividends paid (134,152) 0 0
Net cash (used in) from financing activities (394,028) (273,694) 88,539
Net increase (decrease) in cash and cash equivalents 107,763 (67,302) 136,689
Cash and cash equivalents at January 1 122,424 211,081 119,065
Effect of exchange rate change on cash (23,812) (21,355) (44,673)
Cash and cash equivalents at December 31 $ 206,375 $ 122,424 $ 211,081