| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net profit (loss) | ||||||
370,023 | 334,544 | -224,974 | ||||
Adjustments for: | ||||||
Income tax expense | ||||||
48,000 | 38,271 | 32,759 | ||||
Finance cost | ||||||
35,223 | 37,024 | 33,155 | ||||
Finance income | ||||||
17,939 | 13,000 | 25,947 | ||||
Depreciation, amortization and impairment | ||||||
164,345 | 159,194 | 134,888 | ||||
Loss (gain) on sale of property and equipment | ||||||
2 | -604 | -1,896 | ||||
Disposal of assets | ||||||
-3,318 | -4,139 | -3,344 | ||||
Impairment of accounts receivable | ||||||
879 | 1,511 | -71 | ||||
Allowance for obsolescence of expendable parts and supplies | ||||||
182 | 87 | 63 | ||||
Derivative instruments mark to market | ||||||
2,801 | 111,642 | -11,572 | ||||
Share-based compensation expense | ||||||
7,422 | 7,539 | 4,034 | ||||
Net foreign exchange differences | ||||||
38,017 | 35,525 | 435,983 | ||||
Change in: | ||||||
Accounts receivable | ||||||
-3,534 | -9,967 | 17,471 | ||||
Accounts receivable from related parties | ||||||
181 | 143 | -317 | ||||
Other current assets | ||||||
25,770 | -14,745 | 4,398 | ||||
Restricted cash | ||||||
- | 64,228 | -11,803 | ||||
Other assets | ||||||
-1,012 | 10,202 | 14,628 | ||||
Accounts payable | ||||||
-20,943 | -16,387 | 31,913 | ||||
Accounts payable from related parties | ||||||
-4,199 | -3,076 | 1,801 | ||||
Air traffic liability | ||||||
-74,456 | -44,127 | 55,902 | ||||
Frequent flyer deferred revenue | ||||||
-10,933 | -16,484 | -18,884 | ||||
Other liability | ||||||
-20,883 | -30,117 | -2,598 | ||||
Cash from operating activities | ||||||
799,486 | 653,848 | 362,945 | ||||
Income tax paid | ||||||
51,077 | 33,364 | 39,168 | ||||
Interest paid | ||||||
35,312 | 37,420 | 31,668 | ||||
Interest received | ||||||
14,235 | 11,526 | 24,754 | ||||
Net cash from operating activities | ||||||
727,332 | 594,590 | 316,863 | ||||
Investing activities | ||||||
Acquisition of investments | ||||||
854,119 | 553,037 | 383,005 | ||||
Proceeds from redemption of investments | ||||||
567,007 | 485,944 | 435,110 | ||||
Advance payments on aircraft purchase contracts and other | ||||||
191,315 | 47,479 | 83,064 | ||||
Reimbursement of advance payments on aircraft purchase contracts | ||||||
28,888 | 29,150 | 161,169 | ||||
Acquisition of property and equipment | ||||||
109,945 | 88,345 | 81,788 | ||||
Proceeds from sale of property and equipment | ||||||
6 | 8,332 | 3,380 | ||||
Acquisition of intangible assets | ||||||
18,681 | 14,474 | 19,418 | ||||
Net cash (used in) from investing activities | ||||||
-578,159 | -179,909 | 32,384 | ||||
Financing activities | ||||||
Proceeds from new borrowings | ||||||
147,798 | 164,400 | 130,000 | ||||
Payments on loans, borrowings and finance leases | ||||||
246,349 | 326,965 | 221,912 | ||||
Dividends paid | ||||||
106,792 | 86,116 | 147,592 | ||||
Proceeds from exercise of share options | ||||||
587 | 56 | - | ||||
Repurchase of treasury shares | ||||||
- | - | 117,962 | ||||
Net cash used in financing activities | ||||||
-204,756 | -248,625 | -357,466 | ||||
Net (decrease) increase in cash and cash equivalents | ||||||
-55,583 | 166,056 | -8,219 | ||||
Effect of exchange rate change on cash | ||||||
-37,312 | -39,084 | -8,509 | ||||