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v3.25.4

Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Major components of tax expense (income) [abstract] |
Summary of Income Tax Expense |
| 2025 |  | 2024 |  | 2023
Current taxes expense - |  |  |  |  |
Current period | $ | (82,005) |  |  | $ | (87,431) |  |  | $ | (76,630) |
Adjustment for prior period | 660 |  |  | 263 |  |  | 18 |
| $ | (81,345) |  |  | $ | (87,168) |  |  | $ | (76,612) |
Deferred taxes expenses - |  |  |  |  |
Origination and reversal of temporary differences | (22,617) |  |  | (10,506) |  |  | (20,393) |
Total income tax | $ | (103,962) |  |  | $ | (97,674) |  |  | $ | (97,005) |
Summary of Balances of Deferred Taxes | The balances of deferred taxes are as follows:
| Statement of financial position |  | Statement of profit or loss
| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2023
Deferred tax liabilities |  |  |  |  |  |  |  |  |
Maintenance deposits | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (5,972) |  |  | $ | (5,973) |
Prepaid dividend tax | (59,217) |  |  | (36,992) |  |  | 22,225 |  |  | 6,008 |  |  | 25,183 |
Property and equipment | — |  |  | (300) |  |  | (300) |  |  | 689 |  |  | 555 |
Right of use assets | (17,772) |  |  | (18,900) |  |  | (1,128) |  |  | 1,764 |  |  | 17,136 |
Other | (1,132) |  |  | (4,495) |  |  | (3,363) |  |  | 3,110 |  |  | (353) |
Offsetting tax | 18,904 |  |  | 23,211 |  |  | 4,307 |  |  | (4,492) |  |  | (16,750) |
| $ | (59,217) |  |  | $ | (37,476) |  |  | $ | 21,741 |  |  | $ | 1,107 |  |  | $ | 19,798 |
Deferred tax assets |  |  |  |  |  |  |  |  |
Provision for return conditions | $ | 12,921 |  |  | $ | 11,140 |  |  | $ | (1,781) |  |  | $ | 381 |  |  | $ | (1,714) |
Air traffic liability | 1,197 |  |  | 1,046 |  |  | (151) |  |  | 1,043 |  |  | 597 |
Lease Liability | 20,826 |  |  | 21,486 |  |  | 660 |  |  | (2,515) |  |  | (18,971) |
Other provisions | 3,833 |  |  | 5,334 |  |  | 1,501 |  |  | (1,485) |  |  | (1,903) |
Tax loss | — |  |  | 4,954 |  |  | 4,954 |  |  | 7,483 |  |  | 5,836 |
Offsetting tax | (18,904) |  |  | (23,211) |  |  | (4,307) |  |  | 4,492 |  |  | 16,750 |
| $ | 19,873 |  |  | $ | 20,749 |  |  | $ | 876 |  |  | $ | 9,399 |  |  | $ | 595 |
| $ | (39,344) |  |  | $ | (16,727) |  |  | $ | 22,617 |  |  | $ | 10,506 |  |  | $ | 20,393 |
Summary of Reconciliation of Effective Tax Rate | Reconciliation of the effective tax rate is as follows:
| Tax rate |  | 2025 |  | Tax rate |  | 2024 |  | Tax rate |  | 2023
Net profit |  |  | $ | 671,648 |  |  |  |  | $ | 608,114 |  |  |  |  | $ | 514,097 |
Total income tax expense |  |  | 103,962 |  |  |  |  | 97,674 |  |  |  |  | 97,005 |
Profit excluding income tax |  |  | 775,610 |  |  |  |  | 705,788 |  |  |  |  | 611,102 |
Income taxes at Panamanian statutory rates | 25.0 | % |  | 193,903 |  |  | 25.0 | % |  | 176,447 |  |  | 25.0 | % |  | 152,776 |
Stations - Taxable / Panama | (12.0 | %) |  | (93,413) |  |  | (15.2 | %) |  | (107,360) |  |  | (10.2 | %) |  | (62,113) |
Stations - Taxable / Non Panama | 0.3 | % |  | 2,672 |  |  | 0.6 | % |  | 4,163 |  |  | (0.7 | %) |  | (4,414) |
Stations - Non Taxable / Non Panama | (2.0 | %) |  | (15,326) |  |  | (1.0 | %) |  | (6,808) |  |  | (1.1 | %) |  | (6,483) |
Dividend tax | 2.2 | % |  | 16,786 |  |  | 4.5 | % |  | 31,495 |  |  | 2.8 | % |  | 17,257 |
Over provided in prior periods | (0.1 | %) |  | (660) |  |  | — | % |  | (263) |  |  | 0.0 | % |  | (18) |
Provision for income taxes | 13.4 | % |  | $ | 103,962 |  |  | 13.8 | % |  | $ | 97,674 |  |  | 15.9 | % |  | $ | 97,005 |

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