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Revenue from contract with customers
 12 Months Ended
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.
202520242023
Passenger revenue
Passenger revenue$3,363,175 $3,220,718 $3,263,764 
Miles redeemed68,078 72,643 52,597 
3,431,253 3,293,361 3,316,361 
Cargo and mail revenue115,718 100,507 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 services66,749 47,844 37,930 
Other operating revenue4,102 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:
20252024
Balance at beginning of year$621,895 $611,856 
Sales4,121,670 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:
20252024
Balance at beginning of year$132,065 $124,816 
Deferred of revenue91,598 79,892 
Recognition of revenue(68,078)(72,643)
Balance at end of year$155,585 $132,065 
Current$74,216 $59,449 
Non-current81,369 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:
202520242023
North America$1,521,617 $1,375,018 $1,328,504 
South America1,279,177 1,219,893 1,233,362 
Central America696,032 747,871 796,679 
Caribbean50,145 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.