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Revenue from contract with customers | 12 Months Ended
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Dec. 31, 2025
Disclosure of disaggregation of revenue from contracts with customers [abstract] |
Revenue from contract with customers | 7. Revenue from contract with customers 7.1 Revenue disaggregation 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, 2025, 2024, and 2023.
| 2025 |  | 2024 |  | 2023
Passenger revenue |  |  |  |  |
Passenger revenue | $ | 3,363,175 |  |  | $ | 3,220,718 |  |  | $ | 3,263,764 |
Miles redeemed | 68,078 |  |  | 72,643 |  |  | 52,597 |
| 3,431,253 |  |  | 3,293,361 |  |  | 3,316,361 |
Cargo and mail revenue | 115,718 |  |  | 100,507 |  |  | 97,105 |
Total passenger and cargo and mail revenue | 3,546,971 |  |  | 3,393,868 |  |  | 3,413,466 |
Other operating revenue |  |  |  |  |
Frequent flyer program - marketing services | 66,749 |  |  | 47,844 |  |  | 37,930 |
Other operating revenue | 4,102 |  |  | 4,486 |  |  | 5,608 |
| 70,851 |  |  | 52,330 |  |  | 43,538 |
| $ | 3,617,822 |  |  | $ | 3,446,198 |  |  | $ | 3,457,004 |
7.2 Contract balances 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”. The table below presents the changes in air traffic liability:
| 2025 |  | 2024
Balance at beginning of year | $ | 621,895 |  |  | $ | 611,856 |
Sales | 4,121,670 |  |  | 3,843,468 |
Revenue recognition | (3,240,883) |  |  | (3,083,778) |
Tax recognition | (638,415) |  |  | (587,551) |
Reimbursements | (97,307) |  |  | (119,844) |
Interline tickets | (25,012) |  |  | (35,485) |
Other | (4,332) |  |  | (6,771) |
Balance at end of year | $ | 737,616 |  |  | $ | 621,895 |
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:
| 2025 |  | 2024
Balance at beginning of year | $ | 132,065 |  |  | $ | 124,816 |
Deferred of revenue | 91,598 |  |  | 79,892 |
Recognition of revenue | (68,078) |  |  | (72,643) |
Balance at end of year | $ | 155,585 |  |  | $ | 132,065 |
Current | $ | 74,216 |  |  | $ | 59,449 |
Non-current | 81,369 |  |  | 72,616 |
| $ | 155,585 |  |  | $ | 132,065 |
Contract assets are reflected as accounts receivable. See Note 10. 7.3 Segment reporting 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:
| 2025 |  | 2024 |  | 2023
North America | $ | 1,521,617 |  |  | $ | 1,375,018 |  |  | $ | 1,328,504 |
South America | 1,279,177 |  |  | 1,219,893 |  |  | 1,233,362 |
Central America | 696,032 |  |  | 747,871 |  |  | 796,679 |
Caribbean | 50,145 |  |  | 51,086 |  |  | 54,921 |
| $ | 3,546,971 |  |  | $ | 3,393,868 |  |  | $ | 3,413,466 |
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.

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