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AIRA 2025-03-31 Q1 — report review

Status: OK; Currency: USD; Amounts unit: millions; Forms: ✓ ✓ ✓

Report published: Not stored for this period — set financial_report_date on the row (EDGAR filingDate, KASE change_date, or manual_catalog).

Full financial report: Link

PDF (local): /home/ubuntu/projects/frontier/data/raw_pdfs/AIRA/2025-03-31_Q1_aa-fs-3m-2025-eng-final-formatted-signed-pdf.pdf

To recalculate statement detection and previews from the PDF, use this link The default link runs in the background: a status panel shows phase, elapsed time, rough ETA, CUDA vs CPU, and OOM hints, then loads the finished report. Heavy mode with refresh does this automatically so reverse proxies do not return 502. Add &sync=1 only for one long blocking request (not recommended). You can use ?refresh=1, ?recalc=1, ?nocache=1, or ?recompute=1 on the URL. (block in the browser until done: synchronous refresh)

Metric mapping (value → extracted evidence)

Metric values use dashboard units where applicable; evidence is the stored snippet from the PDF text layer or OCR used during extraction.

Statement pages (discovery)

Statement previews & reconstructed tables

Highlights Yellow row = matched stored evidence label; orange cell = exact number used for that metric (hover row for details). Revenue Operating profit D&A EBITDA Net profit cash debt_short debt_long Assets Equity Operating CF Investing CF

Green / amber / red bars on the label column mark subtotal rows where summed detail lines match the reported total (heuristic). The table under each reconstructed grid lists every check (Σ detail vs reported, status).

P&L

P&L — PDF page 3

No Camelot table — OCR (v8) below.

v8 OCR page 3: empty rows.

P&L — PDF page 4

Camelot table (pages 4, primary page 4).

#	Joined label	Line item	Column 2	Column 3	Column 4
0	Cargo and mail 6 5,760 5,090	Cargo and mail	6	5,760	5,090
1	Other income 1,692 2,334	Other income		1,692	2,334
2	Total revenue and otl1er income 292,379 264,739	Total revenue and otl1er income		292,379	264,739
3	Operating expenses	Operating expenses
4	Fuel and oil costs (68,313) (68,615)	Fuel and oil costs		(68,313)	(68,615)
5	Employee and cre,v costs 7 (53,470) (51,678)	Employee and cre,v costs	7	(53,470)	(51,678)
6	Depreciation and amoгtisation 11 (52,586) (45,095)	Depreciation and amoгtisation	11	(52,586)	(45,095)
7	Handling, landing fees and route charges 7 (31,088) (28,146)	Handling, landing fees and route charges	7	(31,088)	(28,146)
8	Passeпgeг seгvice 7 (28,901) (25,422)	Passeпgeг seгvice	7	(28,901)	(25,422)
9	Engiпeering and maintenaпce 7 (25,607) (24,096)	Engiпeering and maintenaпce	7	(25,607)	(24,096)
10	Selling costs 7 (10,274) (9,292)	Selling costs	7	(10,274)	(9,292)
11	lnsurance (3,358) (3,090)	lnsurance		(3,358)	(3,090)
12	Consultancy, legal and p1·ofessional seгvices (1,597) (4,196)	Consultancy, legal and p1·ofessional seгvices		(1,597)	(4,196)
13	lпfoгmation techпology (1,497) (1,818)	lпfoгmation techпology		(1,497)	(1,818)
14	Property and office costs (1,130) (1,253)	Property and office costs		(1,130)	(1,253)
15	Taxes (879) (1,085)	Taxes		(879)	(1,085)
16	Aircraft lease costs (561) (538)	Aircraft lease costs		(561)	(538)
17	/111paiгment loss ( 107) (6)	/111paiгment loss		( 107)	(6)
18	Otl1er С6,469} (2,691)	Otl1er		С6,469}	(2,691)
19	Total operating expeпses {285,837} {2672021}	Total operating expeпses		{285,837}	{2672021}
20	Operating profit/(loss) before exceptional items 6,542 (2,282)	Operating profit/(loss) before exceptional items		6,542	(2,282)

No subtotal/total rows matched the built-in patterns on this table (or fewer than two detail lines above each candidate).

BS

BS — PDF page 6

Camelot table (pages 6, primary page 6).

#	Joined label	Line item	Notes	31 March 2025	31 December 2024
0	31 March 2025			31 March 2025
1	Notes (unaudited) 31 December 2024		Notes	(unaudited)	31 December 2024
2	ASSETS	ASSETS
3	Non-current assets	Non-current assets
4	Property, plant and equipment 10 1,146,432 1,063,284	Property, plant and equipment	10	1,146,432	1,063,284
5	Intangible assets 5,986 6,018	Intangible assets		5,986	6,018
6	Prepayments 14 27,617 19,591	Prepayments	14	27,617	19,591
7	Guarantee deposits 12 40,336 38,695	Guarantee deposits	12	40,336	38,695
8	Deferred tax assets 9 53,763 48,603	Deferred tax assets	9	53,763	48,603
9	Trade and other receivables 15 631 630	Trade and other receivables	15	631	630
10	1,274,765 1,176,821			1,274,765	1,176,821
11	Current assets	Current assets
12	Inventories 13 69,198 66,129	Inventories	13	69,198	66,129
13	Prepayments 14 30,503 30,290	Prepayments	14	30,503	30,290
14	Income tax prepaid 21,744 12,999	Income tax prepaid		21,744	12,999
15	Trade and other receivables 15 33,762 20,801	Trade and other receivables	15	33,762	20,801
16	Other taxes prepaid 16 18,960 13,792	Other taxes prepaid	16	18,960	13,792
17	Guarantee deposits 12 2,981 3,239	Guarantee deposits	12	2,981	3,239
18	Cash and cash equivalents 17 513,700 488,702	Cash and cash equivalents	17	513,700	488,702
19	Other financial assets 966 302	Other financial assets		966	302
20	691,814 636,254			691,814	636,254
21	Total assets 1,966,579 1,813,075	Total assets		1,966,579	1,813,075
22	EQUITY AND LIABILITIES	EQUITY AND LIABILITIES
23	Equity	Equity
24	Share capital 18 138,112 138,112	Share capital	18	138,112	138,112
25	Functional currency transition reserve (9,324) (9,324)	Functional currency transition reserve		(9,324)	(9,324)
26	Other reserves (2,512) 3,009	Other reserves		(2,512)	3,009
27	Treasury share (3,353) (8,240)	Treasury share		(3,353)	(8,240)
28	Reserve on hedging instruments, net of tax (3,977) (5,775)	Reserve on hedging instruments, net of tax		(3,977)	(5,775)
29	Retained earnings 269,450 276,748	Retained earnings		269,450	276,748
30	Total equity 388,396 394,530	Total equity		388,396	394,530
31	Non-current liabilities	Non-current liabilities
32	Loans 23 5,445 521	Loans	23	5,445	521
33	Lease liabilities 23 812,196 716,775	Lease liabilities	23	812,196	716,775
34	Provision for aircraft maintenance 21 300,020 289,866	Provision for aircraft maintenance	21	300,020	289,866
35	Employee benefits 820 818	Employee benefits		820	818
36	1,118,481 1,007,980			1,118,481	1,007,980
37	Current liabilities	Current liabilities
38	Loans 23 651 56	Loans	23	651	56
39	Lease liabilities 23 180,633 171,886	Lease liabilities	23	180,633	171,886
40	Deferred revenue 20 116,125 89,801	Deferred revenue	20	116,125	89,801
41	Provision for aircraft maintenance 21 35,072 25,269	Provision for aircraft maintenance	21	35,072	25,269
42	Trade and other payables 22 118,571 116,822	Trade and other payables	22	118,571	116,822
43	Income tax payable 8,650 6,731	Income tax payable		8,650	6,731
44	459,702 410,565			459,702	410,565
45	Total liabilities 1,578,183 1,418,545	Total liabilities		1,578,183	1,418,545
46	Total equity and liabilities 1,966,579 1,813,075	Total equity and liabilities		1,966,579	1,813,075
47	Book value per ordinary share (in USD)* 1.077 1.104	Book value per ordinary share (in USD)*		1.077	1.104

No subtotal/total rows matched the built-in patterns on this table (or fewer than two detail lines above each candidate).

BS — PDF page 7

Camelot table (pages 7, primary page 7).

#	Joined label	1 January 2024	Share → capital	Treasury → shares	Other → reserves	Functional → currency	Reserve on → hedging	Retained → earnings	Total equity
0	Functional					Functional
1	currency Reserve on					currency	Reserve on
2	Share Treasury Other translation hedging Retained		Share	Treasury	Other	translation	hedging	Retained
3	’000 USD capital shares reserves reserve instruments earnings Total equity	’000 USD	capital	shares	reserves	reserve	instruments	earnings	Total equity
4	At 1 January 2024 17,000 - - (9,324) (16,292) 221,975 213,359	At 1 January 2024	17,000	-	-	(9,324)	(16,292)	221,975	213,359
5	Loss for the period (unaudited) - - - - - (11,583) (11,583)	Loss for the period (unaudited)	-	-	-	-	-	(11,583)	(11,583)
6	Other comprehensive income: Realised loss on cash	Other comprehensive income: Realised loss on cash
7	flow hedging instruments and effective portion of	flow hedging instruments and effective portion of
8	changes in fair value of fuel call options, net of tax	changes in fair value of fuel call options, net of tax
9	(unaudited) - - - - 3,178 - 3,178	(unaudited)	-	-	-	-	3,178	-	3,178
10	Total comprehensive income for the period	Total comprehensive income for the period
11	(unaudited) - - - - 3,178 (11,583) (8,405)	(unaudited)	-	-	-	-	3,178	(11,583)	(8,405)
12	Issue of shares 121,112 - - - - - 121,112	Issue of shares	121,112	-	-	-	-	-	121,112
13	Issue costs - - (1,343) - - - (1,343)	Issue costs	-	-	(1,343)	-	-	-	(1,343)
14	Equity-settled share-based program - - 1,496 - - - 1,496	Equity-settled share-based program	-	-	1,496	-	-	-	1,496
15	At 31 March 2024 (unaudited) 138,112 - 153 (9,324) (13,114) 210,392 326,219	At 31 March 2024 (unaudited)	138,112	-	153	(9,324)	(13,114)	210,392	326,219
16	At 1 January 2025 138,112 (8,240) 3,009 (9,324) (5,775) 276,748 394,530	At 1 January 2025	138,112	(8,240)	3,009	(9,324)	(5,775)	276,748	394,530
17	Loss for the period (unaudited) - - - - - (7,298) (7,298)	Loss for the period (unaudited)	-	-	-	-	-	(7,298)	(7,298)
18	Other comprehensive income: Realised loss on cash	Other comprehensive income: Realised loss on cash
19	flow hedging instruments and effective portion of	flow hedging instruments and effective portion of
20	changes in fair value of fuel call options, net of tax	changes in fair value of fuel call options, net of tax
21	(unaudited) - - - - 1,798 - 1,798	(unaudited)	-	-	-	-	1,798	-	1,798
22	Total comprehensive income for the period	Total comprehensive income for the period
23	(unaudited) - - - - 1,798 (7,298) (5,500)	(unaudited)	-	-	-	-	1,798	(7,298)	(5,500)
24	Treasury shares (Note 19) - 4,887 - - - - 4,887	Treasury shares (Note 19)	-	4,887	-	-	-	-	4,887
25	Equity-settled share-based program - - (5,521) - - - (5,521)	Equity-settled share-based program	-	-	(5,521)	-	-	-	(5,521)
26	At 31 March 2025 (unaudited) 138,112 (3,353) (2,512) (9,324) (3,977) 269,450 388,396	At 31 March 2025 (unaudited)	138,112	(3,353)	(2,512)	(9,324)	(3,977)	269,450	388,396

No subtotal/total rows matched the built-in patterns on this table (or fewer than two detail lines above each candidate).

CF

Tables and checks run on 2 of 3 PDF pages for this form (timeout budget). Raise REPORT_REVIEW_HEAVY_RECON_PAGES for more.

CF — PDF page 7

Camelot table (pages 7, primary page 7).

#	Joined label	1 January 2024	Share → capital	Treasury → shares	Other → reserves	Functional → currency	Reserve on → hedging	Retained → earnings	Total equity
0	Functional					Functional
1	currency Reserve on					currency	Reserve on
2	Share Treasury Other translation hedging Retained		Share	Treasury	Other	translation	hedging	Retained
3	’000 USD capital shares reserves reserve instruments earnings Total equity	’000 USD	capital	shares	reserves	reserve	instruments	earnings	Total equity
4	At 1 January 2024 17,000 - - (9,324) (16,292) 221,975 213,359	At 1 January 2024	17,000	-	-	(9,324)	(16,292)	221,975	213,359
5	Loss for the period (unaudited) - - - - - (11,583) (11,583)	Loss for the period (unaudited)	-	-	-	-	-	(11,583)	(11,583)
6	Other comprehensive income: Realised loss on cash	Other comprehensive income: Realised loss on cash
7	flow hedging instruments and effective portion of	flow hedging instruments and effective portion of
8	changes in fair value of fuel call options, net of tax	changes in fair value of fuel call options, net of tax
9	(unaudited) - - - - 3,178 - 3,178	(unaudited)	-	-	-	-	3,178	-	3,178
10	Total comprehensive income for the period	Total comprehensive income for the period
11	(unaudited) - - - - 3,178 (11,583) (8,405)	(unaudited)	-	-	-	-	3,178	(11,583)	(8,405)
12	Issue of shares 121,112 - - - - - 121,112	Issue of shares	121,112	-	-	-	-	-	121,112
13	Issue costs - - (1,343) - - - (1,343)	Issue costs	-	-	(1,343)	-	-	-	(1,343)
14	Equity-settled share-based program - - 1,496 - - - 1,496	Equity-settled share-based program	-	-	1,496	-	-	-	1,496
15	At 31 March 2024 (unaudited) 138,112 - 153 (9,324) (13,114) 210,392 326,219	At 31 March 2024 (unaudited)	138,112	-	153	(9,324)	(13,114)	210,392	326,219
16	At 1 January 2025 138,112 (8,240) 3,009 (9,324) (5,775) 276,748 394,530	At 1 January 2025	138,112	(8,240)	3,009	(9,324)	(5,775)	276,748	394,530
17	Loss for the period (unaudited) - - - - - (7,298) (7,298)	Loss for the period (unaudited)	-	-	-	-	-	(7,298)	(7,298)
18	Other comprehensive income: Realised loss on cash	Other comprehensive income: Realised loss on cash
19	flow hedging instruments and effective portion of	flow hedging instruments and effective portion of
20	changes in fair value of fuel call options, net of tax	changes in fair value of fuel call options, net of tax
21	(unaudited) - - - - 1,798 - 1,798	(unaudited)	-	-	-	-	1,798	-	1,798
22	Total comprehensive income for the period	Total comprehensive income for the period
23	(unaudited) - - - - 1,798 (7,298) (5,500)	(unaudited)	-	-	-	-	1,798	(7,298)	(5,500)
24	Treasury shares (Note 19) - 4,887 - - - - 4,887	Treasury shares (Note 19)	-	4,887	-	-	-	-	4,887
25	Equity-settled share-based program - - (5,521) - - - (5,521)	Equity-settled share-based program	-	-	(5,521)	-	-	-	(5,521)
26	At 31 March 2025 (unaudited) 138,112 (3,353) (2,512) (9,324) (3,977) 269,450 388,396	At 31 March 2025 (unaudited)	138,112	(3,353)	(2,512)	(9,324)	(3,977)	269,450	388,396

No subtotal/total rows matched the built-in patterns on this table (or fewer than two detail lines above each candidate).

CF — PDF page 8

Camelot table (pages 8, primary page 8).

#	Joined label	Line item	Notes	31 March 2025	31 March 2024
0	period ended period ended			period ended	period ended
1	31 March 2025 31 March 2024			31 March 2025	31 March 2024
2	Notes (unaudited) (unaudited)		Notes	(unaudited)	(unaudited)
Operating activities
3	OPERATING ACTIVITIES:	OPERATING ACTIVITIES:
4	(Loss)/profit before tax (9,745) (14,541)	(Loss)/profit before tax		(9,745)	(14,541)
5	Adjustments for:	Adjustments for:
6	Depreciation and amortisation of property and equipment and	Depreciation and amortisation of property and equipment and
7	intangible assets 11 52,586 45,095	intangible assets	11	52,586	45,095
8	Gain on sale of property, equipment and inventory (14,617) (211)	Gain on sale of property, equipment and inventory		(14,617)	(211)
9	Change in impairment allowance for prepayments, trade 12,14,	Change in impairment allowance for prepayments, trade	12,14,
10	receivables, guarantee deposits and cash and cash equivalents 15,17 107 (108)	receivables, guarantee deposits and cash and cash equivalents	15,17	107	(108)
11	Change in write-down of obsolete and slow-moving	Change in write-down of obsolete and slow-moving
12	inventories 13 591 (188)	inventories	13	591	(188)
13	Change in vacation accrual 22 952 1,046	Change in vacation accrual	22	952	1,046
14	Change in provision for aircraft maintenance 7, 21 30,813 23,258	Change in provision for aircraft maintenance	7, 21	30,813	23,258
15	Change in customer loyalty program provision 20 3,991 433	Change in customer loyalty program provision	20	3,991	433
16	Foreign exchange loss, net 2,244 3,733	Foreign exchange loss, net		2,244	3,733
17	Finance income, excluding impairment (5,200) (4,756)	Finance income, excluding impairment		(5,200)	(4,756)
18	Finance costs, excluding impairment 19,205 13,638	Finance costs, excluding impairment		19,205	13,638
19	Equity-settled share-based payment 19 (5,521) 1,496	Equity-settled share-based payment	19	(5,521)	1,496
20	Operating cash flow before movements in working capital 75,406 68,895	Operating cash flow before movements in working capital		75,406	68,895
21	Change in trade and other accounts receivables (12,006) (7,965)	Change in trade and other accounts receivables		(12,006)	(7,965)
22	Change in prepayments (10,158) (2,656)	Change in prepayments		(10,158)	(2,656)
23	Change in inventories (3,660) (6,555)	Change in inventories		(3,660)	(6,555)
24	Change in trade and other payables and provision of aircraft	Change in trade and other payables and provision of aircraft
25	maintenance (13,672) (14,035)	maintenance		(13,672)	(14,035)
26	Change in deferred revenue 22,333 18,511	Change in deferred revenue		22,333	18,511
27	Change in other financial assets (530) 546	Change in other financial assets		(530)	546
28	Cash generated from operations 57,713 56,741	Cash generated from operations		57,713	56,741
29	Income tax paid (7,690) (11,333)	Income tax paid		(7,690)	(11,333)
30	Interest received 5,210 4,744	Interest received		5,210	4,744
31	Net cash generated from operating activities 55,233 50,152	Net cash generated from operating activities		55,233	50,152
Investing activities
32	INVESTING ACTIVITIES:	INVESTING ACTIVITIES:
33	Proceeds from sale and leaseback transaction 45,558 -	Proceeds from sale and leaseback transaction		45,558	-
34	Purchase of property and equipment (24,684) (18,342)	Purchase of property and equipment		(24,684)	(18,342)
35	Proceeds from disposal of property and equipment 1,837 334	Proceeds from disposal of property and equipment		1,837	334
36	Purchase of intangible assets (198) (741)	Purchase of intangible assets		(198)	(741)
37	Bank and Guarantee deposits placed (1,386) (1,238)	Bank and Guarantee deposits placed		(1,386)	(1,238)
38	Bank and Guarantee deposits withdrawn 126 502	Bank and Guarantee deposits withdrawn		126	502
39	Net cash used in investing activities 21,253 (19,485)	Net cash used in investing activities		21,253	(19,485)

Subtotals vs summed lines (heuristic)

For each recognised total/subtotal row, amounts in the detected reporting column are summed over preceding detail rows until another subtotal or a lookback limit. This mirrors coarse PHP-style checks; it is not a full chart-of-accounts reconciliation.

Row	Label (trimmed)	Σ detail	Reported	|Δ|/scale	Status
31	Net cash generated from operating activities 55,233 50,152	188,383	55,233	0.7068	Mismatch (23 lines)
39	Net cash used in investing activities 21,253 (19,485)	21,253	21,253	0.0000	OK (6 lines)

Formulas used

• Net debt: debt_short + debt_long - cash; debt_short + debt_long + other_financial_liabilities + non_controlling_interest − cash (from row components)