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v3.25.1

Leases (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Leases |
Schedule of composition of the fleet and spare engines, leases |
Schedule of composition of the fleet and spare engines, leases |  |  |  |  |  |
Aircraft Type |  | Model |  | At December 31, 2024 |  | At December 31, 2023
A319 |  | 132 |  | 1 |  | 3
A320 |  | 233 |  | 40 |  | 39
A320 |  | 232 |  | 4 |  | 1
A320NEO |  | 271N |  | 53 |  | 51
A321 |  | 231 |  | 10 |  | 10
A321NEO |  | 271N |  | 33 |  | 25
|  |  |  | 141 |  | 129
Engine spare Type |  | Model |  | At December31, 2024 |  | At December 31, 2023
V2500 |  | V2527M-A5 |  | 2 |  | 3
V2500 |  | V2527E-A5 |  | 2 |  | 5
V2500 |  | V2527-A5 |  | 4 |  | 6
PW1100 |  | PW1127G-JM |  | 9 |  | 5
PW1100 |  | PW1133G-JM |  | 1 |  | 1
|  |  |  | 18 |  | 20
(1) | Certain of the Company’s aircraft and engine lease agreements include an option to extend the lease term period. Management evaluates extensions based on the market conditions at the time of renewal.
Summary of carrying amounts of right-of-use assets |
Summary of carrying amounts of right-of-use assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Aircraft leases |  | Spare engine leases |  | Land and building leases |  | Total
As of December 31, 2022 |  | US$ | 2,110,753 |  |  | US$ | 24,181 |  |  | US$ | 45,997 |  |  | US$ | 2,180,931 |
Additions |  |  | 401,943 |  |  |  | — |  |  |  | 2,774 |  |  |  | 404,717 |
Extensions |  |  | 64,994 |  |  |  | 7,825 |  |  |  | 767 |  |  |  | 73,586 |
Modifications |  |  | 32,167 |  |  |  | 9,006 |  |  |  | — |  |  |  | 41,173 |
Depreciation on right-of-use assets |  |  | (337,694 | ) |  |  | (11,524 | ) |  |  | (12,797 | ) |  |  | (362,015 | )
As of December 31, 2023 |  |  | 2,272,163 |  |  |  | 29,488 |  |  |  | 36,741 |  |  |  | 2,338,392 |
Additions |  |  | 460,120 |  |  |  | — |  |  |  | 23,387 |  |  |  | 483,507 |
Extensions |  |  | 81,317 |  |  |  | 5,361 |  |  |  | — |  |  |  | 86,678 |
Modifications |  |  | (480 | ) |  |  | 27,175 |  |  |  | 1,190 |  |  |  | 27,885 |
Disposals |  |  | (31,130 | ) |  |  | (25,782 | ) |  |  | — |  |  |  | (56,912 | )
Foreign currency conversion |  |  | — |  |  |  | — |  |  |  | (35 | ) |  |  | (35 | )
Depreciation on right-of-use assets |  |  | (384,235 | ) |  |  | (12,012 | ) |  |  | (13,688 | ) |  |  | (409,935 | )
As of December 31, 2024 |  | US$ | 2,397,755 |  |  | US$ | 24,230 |  |  | US$ | 47,595 |  |  | US$ | 2,469,580 |
Summary of carrying amounts of lease liabilities |
Summary of carrying amounts of lease liabilities |  |  |  |  |  |  |  |
|  | 2024 |  | 2023
As of January 1 |  | US$ | 2,891,442 |  |  | US$ | 2,708,723 |
Additions |  |  | 470,859 |  |  |  | 404,650 |
Modifications |  |  | 114,551 |  |  |  | 114,759 |
Disposals |  |  | (59,780 | ) |  |  | (4,378 | )
Accretion of interest |  |  | 231,661 |  |  |  | 194,416 |
Foreign exchange effect |  |  | (3,802 | ) |  |  | 2,346 |
Payments |  |  | (583,395 | ) |  |  | (529,074 | )
As of 31 December |  | US$ | 3,061,536 |  |  | US$ | 2,891,442 |
Current |  | US$ | 391,158 |  |  | US$ | 372,697 |
Non-current |  | US$ | 2,670,378 |  |  | US$ | 2,518,745 |
Summary of amounts recognized in profit or loss |
Summary of amounts recognized in profit or loss |  |  |  |  |  |  |  |  |  |  |  |
|  | For the years ended December 31,
|  | 2024 |  | 2023 |  | 2022
Depreciation of right-of-use assets |  | US$ | (409,935 | ) |  | US$ | (362,015 | ) |  | US$ | (320,443 | )
Interest expense on lease liabilities and aircraft and engine lease return obligation (Note 23) |  |  | (250,530 | ) |  |  | (191,967 | ) |  |  | (174,769 | )
Aircraft and engine variable lease expenses |  |  | (135,155 | ) |  |  | (103,845 | ) |  |  | (124,532 | )
Short-term leases and leases of low-value assets |  |  | (4,865 | ) |  |  | (7,925 | ) |  |  | (6,680 | )
Total amount recognized in profit or loss |  | US$ | (800,485 | ) |  | US$ | (665,752 | ) |  | US$ | (626,424 | )

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