XML 92 R75.htm IDEA: XBRL DOCUMENT

COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of contingent liabilities [abstract]

Schedule of operating leases

Details of the main operating leases are as follows:

				As of				As of
				December 31,				December 31,
Lessor		Aircraft		2017				2016

ACS Aero 1 Alpha limited		Airbus A320			1				-
Aircraft 76B-26329 Inc.		Boeing 767			1				1
Aircraft 76B-27615 Inc.		Boeing 767			-				1
Aircraft 76B-28206 Inc.		Boeing 767			1				1
Aviación Centaurus, A.I.E.		Airbus A319			3				3
Aviación Centaurus, A.I.E.		Airbus A321			1				1
Aviación Real A.I.E.		Airbus A319			1				1
Aviación Real A.I.E.		Airbus A320			1				1
Aviación Tritón A.I.E.		Airbus A319			3				3
Avolon Aerospace AOE 19 Limited		Airbus A320			-				1
Avolon Aerospace AOE 20 Limited		Airbus A320			-				1
Avolon Aerospace AOE 6 Limited		Airbus A320			-				1
Avolon Aerospace AOE 62 Limited		Boeing 777			1				1
Avolon Aerospace AOE 100 Limited		Airbus A320			2				-
AWAS 5234 Trust		Airbus A320			1				1
Baker & Spice Aviation Limited		Airbus A320			1				1
Bank of America		Airbus A321			2				2
Bank of Utah		Boeing 787			2				-
CIT Aerospace International		Airbus A320			1				2
ECAF I 1215 DAC		Airbus A320			-				1
ECAF I 2838 DAC		Airbus A320			1				1
ECAF I 40589 DAC		Boeing 777			1				1
Eden Irish Aircr Leasing MSN 1459		Airbus A320			1				1
GECAS Sverige Aircraft Leasing Worldwide AB		Airbus A320			-				1
GFL Aircraft Leasing Netherlands B.V.		Airbus A320			-				1
IC Airlease One Limited		Airbus A321			1				1
JSA Aircraft 38484, LLC		Boeing 787			1				1
JSA Aircraft 7126, LLC		Airbus A320			1				1
JSA Aircraft 7128, LLC		Airbus A321			1				1
JSA Aircraft 7239, LLC		Airbus A321			1				1
JSA Aircraft 7298, LLC		Airbus A321			1				1
Macquarie Aerospace Finance 5125-2 Trust		Airbus A320			1				1
Macquarie Aerospace Finance 5178 Limited		Airbus A320			1				1

				As of				As of
				December 31,				December 31,
Lessor		Aircraft		2017				2016

Magix Airlease Limited		Airbus A320			-				1
MASL Sweden (8) AB		Airbus A320			-				1
Merlin Aviation Leasing (Ireland) 18 Limited		Airbus A320			1				1
Merlin Aviation Leasing (Ireland) 7 Limited		Airbus A320			1				-
NBB Cuckoo Co., Ltd		Airbus A321			1				1
NBB Grosbeak Co., Ltd		Airbus A321			1				1
NBB Redstart Co. Ltd		Airbus A321			1				1
NBB-6658 Lease Partnership		Airbus A321			1				1
NBB-6670 Lease Partnership		Airbus A321			1				1
Orix Aviation Systems Limited		Airbus A320			4				5
PAAL Aquila Company Limited		Airbus A321			2				2
PAAL Gemini Company Limited		Airbus A321			1				1
SASOF II (J) Aviation Ireland Limited		Airbus A319			-				1
Shenton Aircraft Leasing Limited		Airbus A320			1				1
Sky High XXIV Leasing Company Limited		Airbus A320			5				5
Sky High XXV Leasing Company Limited		Airbus A320			2				2
SMBC Aviation Capital Limited		Airbus A320			4				6
SMBC Aviation Capital Limited		Airbus A321			2				2
TC-CIT Aviation Ireland Limited		Airbus A320			-				1
Volito Aviation August 2007 AB		Airbus A320			2				2
Volito Aviation November 2006 AB		Airbus A320			2				2
Volito November 2006 AB		Airbus A320			2				2
Wells Fargo Bank North National Association		Airbus A319			2				3
Wells Fargo Bank North National Association		Airbus A320			-				2
Wells Fargo Bank Northwest National Association		Airbus A320			5				7
Wells Fargo Bank Northwest National Association		Airbus A350			2				2
Wells Fargo Bank Northwest National Association		Boeing 767			2				3
Wells Fargo Bank Northwest National Association		Boeing 777			4				6
Wells Fargo Bank Northwest National Association		Boeing 787			11				11
Wilmington Trust Company		Airbus A319			-				1
Total					93				111

Schedule of minimum future lease payments not yet payable

The minimum future lease payments not yet payable are the following:

		As of				As of
		December 31,				December 31,
		2017				2016
		ThUS$				ThUS$

No later than one year			462,205				533,319
Between one and five years			1,620,253				1,459,362
Over five years			1,498,064				1,262,509
Total			3,580,522				3,255,190

Schedule of minimum lease payments charged to income

The minimum operating lease payments charged to income are the following:

		For the period ended
		December 31,
		2017				2016				2015
		ThUS$				ThUS$				ThUS$

Minimum operating lease payments			579,551				568,979				525,134
Total			579,551				568,979				525,134

Schedule of existing letters of credit related to operating leasing

At December 31, 2017 the Company has existing letters of credit related to operating leasing as follows:

						Value				Release
Creditor Guarantee		Debtor		Type		ThUS$				date
GE Capital Aviation Services Limited		Lan Cargo S.A.		One letter of credit			1,100			Nov 30, 2018
ACS Aero 1 Alpha Limited		LATAM Airlines Group S.A.		One letter of credit			3,255			Aug 31, 2018
Bank of America		LATAM Airlines Group S.A.		Three letter of credit			1,043			Jul 2, 2018
Bank of Utah		LATAM Airlines Group S.A.		One letter of credit			2,000			Mar 24, 2019
Engine Lease Finance Corporation		LATAM Airlines Group S.A.		One letter of credit			4,750			Oct 8, 2018
GE Capital Aviation Services Ltd.		LATAM Airlines Group S.A.		Six letter of credit			22,105			Apr 30, 2018
International Lease Finance Corp		LATAM Airlines Group S.A.		Three letter of credit			1,450			Aug 5, 2018
ORIX Aviation Systems Limited		LATAM Airlines Group S.A.		Two letter of credit			7,366			Dec 11, 2018
Wells Fargo Bank		LATAM Airlines Group S.A.		Nine letter of credit			15,160			Mar 2, 2018
CIT Aerospace International		Tam Linhas Aéreas S.A.		One letter of credit			6,000			Oct 25, 2018
Wells Fargo Bank North N.A.		Tam Linhas Aéreas S.A.		One letter of credit			5,500			Jul 15, 2018
							69,729

Schedule of letters of credit, certificates of deposits and warranty insurance policies

At December 31, 2017 the Company has existing letters of credit, certificates of deposits and warranty insurance policies as follows:

						Value				Release
Creditor Guarantee		Debtor		Type		ThUS$				date

Servicio Nacional de Aduana del Ecuador		Líneas Aéreas Nacionales del Ecuador S.A.		Three letter of credit			1,705			Aug 5, 2018
Corporación Peruana de Aeropuertos y Aviación Comercial		Lan Perú S.A.		Twenty five letter of credit			1,897			Jan 31, 2018
Lima Airport Partners S.R.L.		Lan Perú S.A.		Eighteen letter of credit			996			Apr 30, 2018
Superintendencia Nacional de Aduanas y de Administración Tributaria		Lan Perú S.A.		Ten letter of credit			80,000			Jan 21, 2018
Aena Aeropuertos S.A.		LATAM Airlines Group S.A.		Four letter of credit			2,809			Nov 15, 2018
American Alternative Insurance Corporation		LATAM Airlines Group S.A.		Six letter of credit			3,690			Apr 5, 2018
Comisión Europea		LATAM Airlines Group S.A.		One letter of credit			9,868			Jun 16, 2018
Deutsche Bank A.G.		LATAM Airlines Group S.A.		One letter of credit			15,000			Mar 31, 2018
Dirección General de Aeronáutica Civil		LATAM Airlines Group S.A.		Fifty three letter of credit			19,759			Feb 28, 2018
Empresa Pública de Hidrocarburos del Ecuador EP Petroecuador		LATAM Airlines Group S.A.		One letter of credit			5,500			Jun 18, 2018
Metropolitan Dade County		LATAM Airlines Group S.A.		Eight letter of credit			2,273			Mar 13, 2018
4ª Vara Mista de Bayeux		Tam Linhas Aéreas S.A.		One insurance policies guarantee			1,044			Mar 25, 2021
Conselho Administrativo de Conselhos Federais		Tam Linhas Aéreas S.A.		One insurance policies guarantee			12,703			May 19, 2020
Fundação de Proteão de Defesa do Consumidor Procon		Tam Linhas Aéreas S.A.		Two insurance policies guarantee			3,926			Apr 1, 2021
União Federal		Tam Linhas Aéreas S.A.		One insurance policies guarantee			6,604			Oct 20, 2021
União Federal -Fazenda Nacional		Tam Linhas Aéreas S.A.		One insurance policies guarantee			41,243			Jul 30, 2020
União Federal - Procuradoira - Gral da fazenda Nacional		Tam Linhas Aéreas S.A.		Four insurance policies guarantee			50,196			Jan 4, 2020
União Federal Vara Comarca de DF		Tam Linhas Aéreas S.A.		One insurance policies guarantee			1,551			Sep 28, 2021
União Federal Vara Comarca de SP		Tam Linhas Aéreas S.A.		One insurance policies guarantee			19,268			Feb 22, 2021
							280,032