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Finance income and cost
 12 Months Ended
Dec. 31, 2024
Notes and other explanatory information [abstract]  
Finance income and cost

23. Finance income and cost

 

An analysis of finance income is as shown on the next page.

 

         
   2024  2023  2022
Interest on cash and equivalents  US$ 39,941   US$ 32,461   US$ 12,036 
Interest on recovery of guarantee deposits    8,079     4,611     155 
Interest on cash and equivalents held in the trust CIB/3249    1,424     1,150     711 
Total finance income  US$ 49,444   US$ 38,222   US$ 12,902 

 

An analysis of finance cost is as follows:

 

         
   2024  2023  2022
Interest expense on lease liabilities and aircraft and engine lease return obligation (Note 14)  US$ 250,530   US$ 191,967   US$ 174,769 
Interest on asset-backed trust notes    19,496     16,969     12,049 
Cost of letter credit notes    6,744     5,477     4,131 
Interest on debts and borrowings (1)     14,125     2,851     533 
Other finance costs    1,497     1,153     584 
Derivative financial instruments loss (Note 4)    896     579     161 
Bank fees and others    351     347     308 
Total finance costs  US$ 293,639   US$ 219,343   US$ 192,535 
(1) The borrowing costs related to the construction of qualifying assets are capitalized as part of the cost of the asset (Note 12). Interest expense not capitalized is related to the short-term working capital facility.

 

         
   2024  2023  2022
Interest on debts and borrowings  US$ 49,232   US$ 24,752   US$ 8,448 
Capitalized interest (Note 12)    (35,107)    (21,901)    (7,915)
Net interest on debts and borrowing in the consolidated statements of operations  US$ 14,125   US$ 2,851   US$ 533