XML 38 R20.htm IDEA: XBRL DOCUMENT
v3.19.1

INVESTMENTS IN SUBSIDIARIES | 12 Months Ended
--- | ---
Dec. 31, 2018
Disclosure of subsidiaries [abstract] |
INVESTMENTS IN SUBSIDIARIES | NOTE 14 - INVESTMENTS IN SUBSIDIARIES
| (a) | Investments in subsidiaries
The Company has investments in companies recognized as investments in subsidiaries. All the companies defined as subsidiaries have been consolidated within the financial statements of LATAM Airlines Group S.A. and Subsidiaries. The consolidation also includes special-purpose entities. Detail of significant subsidiaries and summarized financial information:
|  |  |  |  |  | Ownership |
|  |  |  |  |  | As of |  |  | As of |
|  | Country of |  | Functional |  | December 31, |  |  | December 31, |
Name of significant subsidiary |  | incorporation |  | currency |  | 2018 |  |  | 2017 |
|  |  |  |  |  | % |  |  | % |
Lan Perú S.A. |  | Peru |  | US$ |  |  | 70.00000 |  |  |  | 70.00000 |
Lan Cargo S.A. |  | Chile |  | US$ |  |  | 99.89803 |  |  |  | 99.89803 |
Lan Argentina S.A. |  | Argentina |  | ARS |  |  | 99.86560 |  |  |  | 99.86560 |
Transporte Aéreo S.A. |  | Chile |  | US$ |  |  | 100.00000 |  |  |  | 100.00000 |
Aerolane Líneas Aéreas Nacionales del Ecuador S.A. |  | Ecuador |  | US$ |  |  | 100.00000 |  |  |  | 100.00000 |
Aerovías de Integración Regional, AIRES S.A. |  | Colombia |  | COP |  |  | 99.19061 |  |  |  | 99.19061 |
TAM S.A. |  | Brazil |  | BRL |  |  | 99.99938 |  |  |  | 99.99938 |
The consolidated subsidiaries do not have significant restrictions for transferring funds to controller. Summary financial information of significant subsidiaries
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Results for the year |
|  | Statement of financial position as of December 31, 2018 |  |  | ended December 31, 2018 |
|  | Total |  |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  |  |  |  | Net |
Name of significant subsidiary |  | Assets |  |  | Assets |  |  | Assets |  |  | Liabilities |  |  | Liabilities |  |  | Liabilities |  |  | Revenue |  |  | Income |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Lan Perú S.A. |  |  | 417,767 |  |  |  | 379,490 |  |  |  | 38,277 |  |  |  | 407,570 |  |  |  | 406,157 |  |  |  | 1,413 |  |  |  | 1,161,205 |  |  |  | 1,652 |
Lan Cargo S.A. |  |  | 511,275 |  |  |  | 243,499 |  |  |  | 267,776 |  |  |  | 334,498 |  |  |  | 292,153 |  |  |  | 42,345 |  |  |  | 269,783 |  |  |  | (34,401 | )
Lan Argentina S.A. |  |  | 243,173 |  |  |  | 235,919 |  |  |  | 7,254 |  |  |  | 239,127 |  |  |  | 236,702 |  |  |  | 2,425 |  |  |  | 254,069 |  |  |  | (148,032 | )
Transporte Aéreo S.A. |  |  | 330,777 |  |  |  | 72,597 |  |  |  | 258,180 |  |  |  | 128,428 |  |  |  | 27,440 |  |  |  | 100,988 |  |  |  | 304,084 |  |  |  | (17,847 | )
Aerolane Líneas Aéreas Nacionales del Ecuador S.A. |  |  | 106,487 |  |  |  | 96,564 |  |  |  | 9,923 |  |  |  | 95,860 |  |  |  | 89,819 |  |  |  | 6,041 |  |  |  | 234,169 |  |  |  | (1,135 | )
Aerovías de Integración Regional, AIRES S.A. |  |  | 116,118 |  |  |  | 55,865 |  |  |  | 60,253 |  |  |  | 77,746 |  |  |  | 69,149 |  |  |  | 8,597 |  |  |  | 291,827 |  |  |  | (5,068 | )
TAM S.A. (*) |  |  | 4,304,126 |  |  |  | 2,007,830 |  |  |  | 2,296,296 |  |  |  | 3,013,831 |  |  |  | 1,727,151 |  |  |  | 1,286,680 |  |  |  | 4,650,526 |  |  |  | (12,538 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Results for the year |
|  | Statement of financial position as of December 31, 2017 |  |  | ended December 31, 2017 |
|  | Total |  |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  |  |  |  | Net |
Name of significant subsidiary |  | Assets |  |  | Assets |  |  | Assets |  |  | Liabilities |  |  | Liabilities |  |  | Liabilities |  |  | Revenue |  |  | Income |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Lan Perú S.A. |  |  | 315,607 |  |  |  | 294,308 |  |  |  | 21,299 |  |  |  | 303,204 |  |  |  | 301,476 |  |  |  | 1,728 |  |  |  | 1,046,423 |  |  |  | 1,205 |
Lan Cargo S.A. |  |  | 584,169 |  |  |  | 266,836 |  |  |  | 317,333 |  |  |  | 371,934 |  |  |  | 292,529 |  |  |  | 79,405 |  |  |  | 264,544 |  |  |  | (30,220 | )
Lan Argentina S.A. |  |  | 198,951 |  |  |  | 166,445 |  |  |  | 32,506 |  |  |  | 143,731 |  |  |  | 139,914 |  |  |  | 3,817 |  |  |  | 387,557 |  |  |  | (41,636 | )
Transporte Aéreo S.A. |  |  | 324,498 |  |  |  | 30,909 |  |  |  | 293,589 |  |  |  | 104,357 |  |  |  | 36,901 |  |  |  | 67,456 |  |  |  | 317,436 |  |  |  | 2,172 |
Aerolane Líneas Aéreas Nacionales del Ecuador S.A. |  |  | 96,407 |  |  |  | 66,166 |  |  |  | 30,241 |  |  |  | 84,123 |  |  |  | 78,817 |  |  |  | 5,306 |  |  |  | 219,039 |  |  |  | 3,722 |
Aerovías de Integración Regional, AIRES S.A. |  |  | 138,138 |  |  |  | 64,160 |  |  |  | 73,978 |  |  |  | 91,431 |  |  |  | 80,081 |  |  |  | 11,350 |  |  |  | 279,414 |  |  |  | 526 |
TAM S.A. (*) |  |  | 4,490,714 |  |  |  | 1,843,822 |  |  |  | 2,646,892 |  |  |  | 3,555,423 |  |  |  | 2,052,633 |  |  |  | 1,502,790 |  |  |  | 4,621,338 |  |  |  | 160,582 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Results for the year |
|  | Statement of financial position as of December 31, 2016 |  |  | ended December 31, 2016 |
|  | Total |  |  | Current |  |  | Non-current |  |  | Total |  |  | Current |  |  | Non-current |  |  |  |  |  | Net |
Name of significant subsidiary |  | Assets |  |  | Assets |  |  | Assets |  |  | Liabilities |  |  | Liabilities |  |  | Liabilities |  |  | Revenue |  |  | Income |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Lan Perú S.A. |  |  | 306,111 |  |  |  | 283,691 |  |  |  | 22,420 |  |  |  | 294,912 |  |  |  | 293,602 |  |  |  | 1,310 |  |  |  | 967,787 |  |  |  | (2,164 | )
Lan Cargo S.A. |  |  | 480,908 |  |  |  | 144,309 |  |  |  | 336,599 |  |  |  | 239,728 |  |  |  | 211,395 |  |  |  | 28,333 |  |  |  | 266,296 |  |  |  | (24,813 | )
Lan Argentina S.A. |  |  | 216,331 |  |  |  | 194,306 |  |  |  | 22,025 |  |  |  | 200,172 |  |  |  | 197,330 |  |  |  | 2,842 |  |  |  | 371,896 |  |  |  | (29,572 | )
Transporte Aéreo S.A. |  |  | 340,940 |  |  |  | 36,986 |  |  |  | 303,954 |  |  |  | 124,805 |  |  |  | 59,668 |  |  |  | 65,137 |  |  |  | 297,247 |  |  |  | 8,206 |
Aerolane Líneas Aéreas Nacionales del Ecuador S.A. |  |  | 89,667 |  |  |  | 56,064 |  |  |  | 33,603 |  |  |  | 81,101 |  |  |  | 75,985 |  |  |  | 5,116 |  |  |  | 219,676 |  |  |  | (1,281 | )
Aerovías de Integración Regional, AIRES S.A. |  |  | 129,734 |  |  |  | 55,132 |  |  |  | 74,602 |  |  |  | 85,288 |  |  |  | 74,160 |  |  |  | 11,128 |  |  |  | 277,503 |  |  |  | (13,675 | )
TAM S.A. (*) |  |  | 5,287,286 |  |  |  | 1,794,189 |  |  |  | 3,493,097 |  |  |  | 4,710,308 |  |  |  | 2,837,620 |  |  |  | 1,872,688 |  |  |  | 4,145,951 |  |  |  | 2,107 |
(*) Corresponds to consolidated information of TAM S.A. and Subsidiaries
| (b) | Non-controlling
|  |  |  |  |  | As of |  |  | As of |  |  | As of |  |  | As of |
Equity |  |  |  | Country |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
|  | Tax No. |  | of origin |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  |  |  |  |  | % |  |  | % |  |  | ThUS$ |  |  | ThUS$ |
Lan Perú S.A |  | 0-E |  | Peru |  |  | 30.00000 |  |  |  | 30.00000 |  |  |  | 3,063 |  |  |  | 3,722 |
Lan Cargo S.A. and Subsidiaries |  | 93.383.000-4 |  | Chile |  |  | 0.10196 |  |  |  | 0.10196 |  |  |  | (100 | ) |  |  | 849 |
Promotora Aérea Latinoamericana S.A. and Subsidiaries |  | 0-E |  | Mexico |  |  | 0.00000 |  |  |  | 51.00000 |  |  |  | - |  |  |  | 4,578 |
Inversora Cordillera S.A. and Subsidiaries |  | 0-E |  | Argentina |  |  | 0.13940 |  |  |  | 0.13940 |  |  |  | 8,684 |  |  |  | 3,502 |
Lan Argentina S.A. |  | 0-E |  | Argentina |  |  | 0.02890 |  |  |  | 0.02842 |  |  |  | (472 | ) |  |  | 79 |
Americonsult de Guatemala S.A. |  | 0-E |  | Guatemala |  |  | 1.00000 |  |  |  | 1.00000 |  |  |  | 1 |  |  |  | 1 |
Americonsult S.A. and Subsidiaries |  | 0-E |  | Mexico |  |  | 0.20000 |  |  |  | 0.20000 |  |  |  | 1 |  |  |  | - |
Americonsult Costa Rica S.A. |  | 0-E |  | Costa Rica |  |  | 1.00000 |  |  |  | 1.00000 |  |  |  | 11 |  |  |  | 12 |
Linea Aérea Carguera de Colombiana S.A. |  | 0-E |  | Colombia |  |  | 10.00000 |  |  |  | 10.00000 |  |  |  | (462 | ) |  |  | (520 | )
Aerolíneas Regionales de Integración Aires S.A. |  | 0-E |  | Colombia |  |  | 0.79880 |  |  |  | 0.80944 |  |  |  | 378 |  |  |  | 461 |
Transportes Aereos del Mercosur S.A. |  | 0-E |  | Paraguay |  |  | 5.02000 |  |  |  | 5.02000 |  |  |  | 1,740 |  |  |  | 1,324 |
Multiplus S.A. |  | 0-E |  | Brazil |  |  | 27.26000 |  |  |  | 27.26000 |  |  |  | 67,096 |  |  |  | 77,139 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 79,940 |  |  |  | 91,147 |
|  |  |  |  |  | For the year ended |  |  | For the year ended |
Incomes |  |  |  | Country |  | December 31, |  |  | December 31, |  |  | December 31, |  |  |  |  |  | December 31, |  |  |  |
|  | Tax No. |  | of origin |  | 2018 |  |  | 2017 |  |  | 2016 |  |  | 2018 |  |  | 2017 |  |  | 2016 |
|  |  |  |  |  | % |  |  | % |  |  | % |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Lan Perú S.A |  | 0-E |  | Peru |  |  | 30.00000 |  |  |  | 30.00000 |  |  |  | 30.00000 |  |  |  | 1,012 |  |  |  | 360 |  |  |  | (649 | )
Lan Cargo S.A. and Subsidiaries |  | 93.383.000-4 |  | Chile |  |  | 0.10196 |  |  |  | 0.10196 |  |  |  | 0.10196 |  |  |  | (395 | ) |  |  | (4 | ) |  |  | (7 | )
Promotora Aerea Latinoamericana S.A. and Subsidiaries |  | 0-E |  | Mexico |  |  | 0.00000 |  |  |  | 51.00000 |  |  |  | 51.00000 |  |  |  | - |  |  |  | 1,416 |  |  |  | 96 |
Inversora Cordillera S.A. and Subsidiaries |  | 0-E |  | Argentina |  |  | 0.13940 |  |  |  | 0.13940 |  |  |  | 0.70422 |  |  |  | 183 |  |  |  | 117 |  |  |  | 364 |
Lan Argentina S.A. |  | 0-E |  | Argentina |  |  | 0.02890 |  |  |  | 0.02842 |  |  |  | 0.13440 |  |  |  | 39 |  |  |  | 24 |  |  |  | 77 |
Americonsult de Guatemala S.A. |  | 0-E |  | Guatemala |  |  | 1.00000 |  |  |  | 1.00000 |  |  |  | 1.00000 |  |  |  | - |  |  |  | - |  |  |  | (4 | )
Americonsult S.A. and Subsidiaries |  | 0-E |  | Mexico |  |  | 0.20000 |  |  |  | 0.20000 |  |  |  | 0.00000 |  |  |  | 2 |  |  |  | - |  |  |  | - |
Linea Aérea Carguera de Colombiana S.A. |  | 0-E |  | Colombia |  |  | 10.00000 |  |  |  | 10.00000 |  |  |  | 10.00000 |  |  |  | 58 |  |  |  | 398 |  |  |  | (106 | )
Aerolíneas Regionales de Integración Aires S.A. |  | 0-E |  | Colombia |  |  | 0.79880 |  |  |  | 0.80944 |  |  |  | 0.80944 |  |  |  | (41 | ) |  |  | 4 |  |  |  | (140 | )
Transportes Aereos del Mercosur S.A. |  | 0-E |  | Paraguay |  |  | 5.02000 |  |  |  | 5.02000 |  |  |  | 5.02000 |  |  |  | 717 |  |  |  | 299 |  |  |  | 146 |
Multiplus S.A. |  | 0-E |  | Brazil |  |  | 27.26000 |  |  |  | 27.26000 |  |  |  | 27.26000 |  |  |  | 29,737 |  |  |  | 42,796 |  |  |  | 41,673 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 31,312 |  |  |  | 45,410 |  |  |  | 41,450 |
(*) On September 4, 2018, LATAM Airlines Brazil send a communication to Multiplus informing it that it intends to: (i) not renew or extend the contract of the operation when it expires; and (ii) make a public offer to acquire the shares of Multiplus that are not owned by it, in order to cancel the registration of Multiplus as a public limited company in the Comissão de Valores de Mobiliários of the Federative Republic of Brazil (CVM) and delist it from the Novo Mercado de B3. This process is subject to the approval of the Brazilian securities regulator and the public offer for the acquisition of shares is successful.

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of subsidiaries. [Refer: Subsidiaries [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2018-01-01 -Paragraph 17 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=27&date=2018-03-01&anchor=para_17_b&doctype=Standard -URIDate 2018-03-16 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2018-01-01 -Paragraph 16 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=27&date=2018-03-01&anchor=para_16_b&doctype=Standard -URIDate 2018-03-16 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2018-01-01 -Paragraph B4 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2018-03-01&anchor=para_B4_a&doctype=Appendix&seq=2 -URIDate 2018-03-16 + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration