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Consolidated statement of cash flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net profit $ 608,114 $ 514,097 $ 348,054
Adjustments for:      
Income tax expense 97,674 97,005 40,176
Finance cost 84,493 158,216 87,631
Finance income (58,912) (50,208) (18,030)
Depreciation and amortization 330,710 306,114 267,704
Disposal of non financial assets 2,907 847 (2,458)
Impairment of financial assets (1,313) (201) 2,408
Allowance for obsolescence 0 0 80
Share-based compensation expense 5,483 4,359 5,155
Unrealized (gains) losses in fair value of derivatives (1,410) 98,347 (17,189)
Unrealized loss on investment (5,894) (6,338) 4,252
Net foreign exchange differences 29,038 11,117 25,330
Provisions (17,060) 0 0
Change in:      
Accounts receivable (15,009) (27,199) (51,318)
Accounts receivable from related parties (449) (359) (336)
Other current assets (1,720) (23,145) (47,436)
Other assets (11,167) (7,219) (10,874)
Accounts payable 46,387 19,143 46,982
Accounts payable from related parties 396 224 (6,945)
Air traffic liability 10,039 (39,950) 94,474
Frequent flyer deferred revenue 7,249 13,289 16,413
Other liabilities 5,790 40,266 33,317
Cash from operating activities 1,115,346 1,108,405 817,390
Income tax paid (115,721) (55,414) (26,353)
Interest paid (61,038) (50,931) (44,761)
Interest received 58,262 42,726 12,267
Net cash from operating activities 996,849 1,044,786 758,543
Investing activities      
Acquisition of investments (569,787) (644,909) (763,842)
Proceeds from redemption and sale of investments 709,725 698,580 749,576
Advance payments on aircraft purchase contracts 0 (200,000) (377,670)
Reimbursement of advance payments on aircraft purchase contracts 160,302 228,111 105,381
Acquisition of property and equipment (626,161) (600,175) (254,561)
Proceeds from sale of property and equipment 12,958 5,095 7,426
Acquisition of intangible assets (30,179) (29,697) (18,461)
Net cash used in investing activities (343,142) (542,995) (552,151)
Financing activities      
Payment of convertible notes 0 (350,001) 0
Proceeds from new borrowings 414,587 428,310 222,481
Payments on loans and borrowings (216,649) (152,254) (249,519)
Payment of lease liability (61,140) (79,999) (79,017)
Repurchase of treasury shares (87,308) (105,932) (167,639)
Dividends paid (269,139) (134,152) 0
Net cash used in financing activities (219,649) (394,028) (273,694)
Net increase (decrease) in cash and cash equivalents 434,058 107,763 (67,302)
Cash and cash equivalents at January 1 206,375 122,424 211,081
Effect of exchange rate change on cash (27,120) (23,812) (21,355)
Cash and cash equivalents at December 31 $ 613,313 $ 206,375 $ 122,424