XML 66 R49.htm IDEA: XBRL DOCUMENT v3.25.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
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
                        
   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
            
   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
                  
   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)