Free Cash Flow StrengthConsistent positive free cash flow across 2022–2025, with a sharp FCF increase in 2025, indicates durable internal funding ability. This strengthens capacity to service debt, fund fleet and maintenance needs, and support operations without relying solely on external financing during typical airline cycles.
Sustained ProfitabilityThe company regained stable operating profitability after the pandemic and delivered multi-year net income. Sustained margins and earnings power support long-term viability of core operations, improving ability to invest in route/network optimization and to generate recurring cash flows.
Improved Capital Position Vs. 2021–22Equity growth and a meaningful reduction in leverage since the pandemic-era peak improved financial resilience. A stronger capital base increases shock absorption and provides more flexibility for medium-term fleet and network investment, reducing default and refinancing risks relative to earlier years.