Fundamentals - Income Statement

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  Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Net Sales 2,301.83 1,707.91 990.07 1,840.97
Revenue 2,301.83 1,707.91 990.07 1,840.97
Total Revenue 2,301.83 1,707.91 990.07 1,840.97
Cost of Revenue 956.24 567.42 295.55 519.54
Cost of Revenue, Total 956.24 567.42 295.55 519.54
Gross Profit 1,345.59 1,140.49 694.52 1,321.43
Selling/General/Administrative Expense 315.75 284.79 175.89 221.23
Labor & Related Expense 552.41 484.57 377.83 450.45
Advertising Expense 40.10 31.30 12.40 29.10
Selling/General/Administrative Expenses, Total 908.26 800.66 566.11 700.78
Depreciation 197.54 181.04 176.27 155.85
Depreciation/Amortization 197.54 181.04 176.27 155.85
Impairment-Assets Held for Use -- 0.50 -- 0.00
Other Unusual Expense (Income) 34.61 -188.61 181.71 3.68
Unusual Expense (Income) 34.61 -188.11 181.71 3.68
Other Operating Expense 113.53 83.90 79.28 100.85
Other Operating Expenses, Total 113.53 83.90 79.28 100.85
Total Operating Expense 2,210.18 1,444.91 1,298.91 1,480.69
Operating Income 91.65 263.00 -308.84 360.27
Interest Expense - Non-Operating -115.71 -68.40 -60.49 -76.80
Interest Capitalized - Non-Operating 12.64 -- 4.07 4.47
Interest Expense, Net Non-Operating -103.07 -68.40 -56.43 -72.33
Interest Income, Non-Operating 16.47 1.81 5.51 12.52
Interest/Investment Income, Non-Operating 16.47 1.81 5.51 12.52
Interest Income (Expense), Net-Non-Operating, Total -86.60 -66.59 -50.92 -59.81
Other Non-Operating Income (Expense) -0.09 0.21 -1.31 0.78
Other, Net -0.09 0.21 -1.31 0.78
Net Income Before Taxes 4.95 196.62 -361.07 301.25
Income Tax – Total 2.46 44.77 -176.97 69.13
Income After Tax 2.49 151.85 -184.09 232.12
Minority Interest -- -- -- --
Net Income Before Extraordinary Items 2.49 151.85 -184.09 232.12
Extraordinary Item -- -- -- 0.00
Total Extraordinary Items -- -- -- 0.00
Net Income 2.49 151.85 -184.09 232.12
Miscellaneous Earnings Adjustment -0.03 -2.22 -0.24 -3.41
Total Adjustments to Net Income -0.03 -2.22 -0.24 -3.41
Income Available to Common Excluding Extraordinary Items 2.46 149.64 -184.33 228.70
Income Available to Common Stocks Including Extraordinary Items 2.46 149.64 -184.33 228.70
Basic Weighted Average Shares 17.96 17.21 15.99 16.03
Basic EPS Excluding Extraordinary Items 0.14 8.69 -11.53 14.27
Basic EPS Including Extraordinary Items 0.14 8.69 -11.53 14.27
Dilution Adjustment -- -- -- --
Diluted Net Income 2.46 149.64 -184.33 228.70
Diluted Weighted Average Shares 18.03 17.23 15.99 16.04
Diluted EPS Excluding Extraordinary Items 0.14 8.68 -11.53 14.26
Diluted EPS Including Extraordinary Items 0.14 8.68 -11.53 14.26
DPS - Common Stock Primary Issue -- -- -- 2.80
Gross Dividends - Common Stock 0.00 0.00 11.48 45.55
Total Special Items 34.61 -188.11 181.71 3.68
Normalized Income Before Taxes 39.57 8.51 -179.36 304.92
Effect of Special Items on Income Taxes 17.19 -42.83 63.60 0.84
Income Taxes Excluding Impact of Special Items 19.65 1.94 -113.38 69.97
Normalized Income After Taxes 19.91 6.57 -65.98 234.95
Normalized Income Available to Common 19.88 4.35 -66.22 231.54
Basic Normalized EPS 1.11 0.25 -4.14 14.45
Diluted Normalized EPS 1.10 0.25 -4.14 14.43
Depreciation, Supplemental 197.54 181.04 176.27 155.85
Interest Expense, Supplemental 103.07 68.40 56.43 72.33
Interest Capitalized, Supplemental -12.64 -- -4.07 -4.47
Rental Expense, Supplemental 24.99 22.70 12.62 5.82
Stock-Based Compensation, Supplemental 15.20 16.13 19.29 18.23
Advertising Expense, Supplemental 40.10 31.30 12.40 29.10
Minority Interest, Supplemental -- -- -- --
Audit-Related Fees, Supplemental -- 1.48 1.55 1.22
Audit-Related Fees -- 0.01 0.01 0.00
Tax Fees, Supplemental -- 0.06 0.03 0.04
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 0.00
Gross Margin 58.46 66.78 70.15 71.78
Operating Margin 3.98 15.40 -31.19 19.57
Pretax Margin 0.22 11.51 -36.47 16.36
Effective Tax Rate 49.67 22.77 -- 22.95
Net Profit Margin 0.11 8.76 -18.62 12.42
Normalized EBIT 126.26 74.89 -127.13 363.95
Normalized EBITDA 323.80 255.93 49.13 519.80
Current Tax - Domestic 0.01 -0.49 -195.57 -0.03
Current Tax - Foreign 0.21 -0.01 0.13 0.53
Current Tax - Local 0.07 0.55 -0.21 0.51
Current Tax - Total 0.29 0.05 -195.65 1.00
Deferred Tax - Domestic 1.19 40.69 24.13 63.43
Deferred Tax - Foreign -- -- 0.00 0.00
Deferred Tax - Local 0.98 4.02 -5.45 4.70
Deferred Tax - Total 2.17 44.72 18.68 68.13
Income Tax - Total 2.46 44.77 -176.97 69.13
Defined Contribution Expense - Domestic 24.00 21.40 18.60 19.00
Total Pension Expense 24.00 21.40 18.60 19.00
Revenue Passengers 16,630,138.00 13,509,544.00 8,553,623.00 15,012,149.00
Revenue Passengers Kilometers (RPK) 24,501.15 19,253.69 12,273.58 20,982.58
Available Seat Kilometers (ASK) 29,642.51 28,148.28 21,123.45 26,029.85
Load Factor, Total -% 82.66 68.40 58.10 80.61
Passenger Haul, Average Length (Kilometers) 1,458.70 1,411.83 1,423.19 1,397.71
Aircraft Stage, Average Length (Kilometers) 1,422.66 1,377.60 1,387.25 1,375.99
Number of Trips Flown (Departures) 118,069.00 117,047.00 87,955.00 110,542.00
Average Passenger Fare, Total 134.62 123.24 110.91 118.26
Passenger Revenue per RPK 0.09 0.08 0.07 0.08
Passenger Revenue per ASK 0.07 0.06 0.04 0.06
Operating Revenue per ASK 0.08 0.06 0.05 0.07
Operating Expense per ASK 0.07 0.05 0.06 0.06
Operating Expense per ASK, excluding Fuel 0.05 0.04 0.05 0.04
Fuel Cost per Liter 0.99 0.56 0.39 0.58
Fuel Consumed, Liters 827.51 774.83 565.84 743.61
Average Number of Operating Aircraft 114.20 103.00 97.40 85.60
Number of Hours Flown 278,792.00 264,628.00 196,849.00 248,513.00

In millions of USD (except for per share items)

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