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v3.19.1

GOODWILL (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of detailed information about intangible assets [abstract] |
Schedule of movement of goodwill | Movement of Goodwill, separated by CGU:
|  |  |  |  | Coalition |  |  |  |
|  |  |  |  | and loyalty |  |  |  |
|  | Air |  |  | program |  |  |  |
|  | Transport |  |  | Multiplus |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Opening balance as of January 1, 2016 |  |  | 1,835,088 |  |  |  | 445,487 |  |  |  | 2,280,575 |
Increase (decrease) due to exchange rate differences |  |  | 341,813 |  |  |  | 88,261 |  |  |  | 430,074 |
Others |  |  | (267 | ) |  |  | - |  |  |  | (267 | )
Closing balance as of December 31, 2016 |  |  | 2,176,634 |  |  |  | 533,748 |  |  |  | 2,710,382 |
Opening balance as of January 1, 2017 |  |  | 2,176,634 |  |  |  | 533,748 |  |  |  | 2,710,382 |
Increase (decrease) due to exchange rate differences |  |  | (29,942 | ) |  |  | (7,890 | ) |  |  | (37,832 | )
Closing balance as of December 31, 2017 |  |  | 2,146,692 |  |  |  | 525,858 |  |  |  | 2,672,550 |
Opening balance as of January 1, 2018 |  |  | 2,146,692 |  |  |  | 525,858 |  |  |  | 2,672,550 |
Increase (decrease) due to exchange rate differences |  |  | (300,203 | ) |  |  | (76,922 | ) |  |  | (377,125 | )
Adjustment IAS 29, hyperinflation Argentina |  |  | 335 |  |  |  | - |  |  |  | 335 |
Others |  |  | (1,688 | ) |  |  | - |  |  |  | (1,688 | )
Closing balance as of December 31, 2018 |  |  | 1,845,136 |  |  |  | 448,936 |  |  |  | 2,294,072 |
Schedule of recoverable values categories by CGU | As of December 31, 2018 the recoverable values were determined using the following assumptions presented below:
|  |  | Air transportation CGU |  | Coalition and loyalty program Multiplus CGU (2)
Annual growth rate (Terminal) | % |  | 1.0 - 2.0 |  | 4.0 - 5.0
Exchange rate (1) | R$/US$ |  | 3.7 - 4.6 |  | 3.5 - 4.3
Discount rate based on the weighted average cost of capital (WACC) | % |  | 8.07 - 10.07 |  |
Discount rate based on cost of equity (CoE) | % |  | - |  | 12.0 - 13.0
Fuel Price from futures price curves commodities markets | US$/barrel |  | 75-80 |  |
| (1) | In line with the expectations of the Central Bank of Brazil
| (2) | The flows, like the growth and discount rates, are denominated in reais.
Schedule of sensitivity analysis of goodwill by CGU | CGU´s are sensitive to rates for annual growth, discount and exchanges rates. The sensitivity analysis included the individual impact of changes in estimates critical in determining the recoverable amounts, namely:
|  |  |  |  |  |  |  | Decrease |
|  | Increase |  |  | Increase |  |  | Minimum |
|  | Maximum |  |  | Maximum |  |  | terminal |
|  | WACC |  |  | CoE |  |  | growth rate |
|  |  | % |  |  |  | % |  |  |  | % |
Air transportation CGU |  |  | 10.07 |  |  |  | - |  |  |  | 1.0 |
Coalition and loyalty program Multiplus CGU |  |  | - |  |  |  | 13.00 |  |  |  | 4.0 |

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