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Results at glance

Fourth Quarter
Consolidated Financial Highlights 2023 2022 Var.
Total Operating Revenue (US$ millions) 899 820 9.6%
TRASM (US$ cents) 9.56 8.63 10.7%
ASMs (million, scheduled & charter) 9,402 9,504 (1.1%)
Load Factor (scheduled, RPMs/ASMs) 88.1% 87.3% 0.8 pp
Passengers (thousand, scheduled & charter) 8,247 8,475 (2.7%)
Fleet (at the end of the period) 129 117 12
Total Operating Expenses (US$ millions) 735 760 (3.3%)
CASM (US$ cents) 7.81 8.00 (2.3%)
CASM ex fuel (US$ cents) 4.86 4.39 10.7%
Adjusted CASM ex fuel (US$ cents)1 5.07 4.10 23.7%
Operating income (EBIT) (US$ millions) 164 60 173.3%
% EBIT Margin 18.3% 7.3% 11.0 pp
Net income (loss) (US$ million) 112 (22) N/A
% Net income (loss) Margin 12.5% (2.7%) 15.2 pp
EBITDAR (US$ millions) 281 208 35.1%
% EBITDAR Margin 31.3% 25.3% 6.0 pp
Net debt-to-LTM EBITDAR2 3.4x 3.9x -0.5x
       
1 Excludes fuel expense, aircraft and engine variable lease expenses and sale and lease-back gains.
2 Includes short-term investments.