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PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended
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Dec. 31, 2018
Property, plant and equipment [abstract] |
Schedule of composition of property, plant and equipment | The composition by category of Property, plant and equipment is as follows:
|  | Gross Book Value |  |  | Acumulated depreciation |  |  | Net Book Value |
|  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Construction in progress (1) |  |  | 630,320 |  |  |  | 556,822 |  |  |  | - |  |  |  | - |  |  |  | 630,320 |  |  |  | 556,822 |
Land |  |  | 45,424 |  |  |  | 49,780 |  |  |  | - |  |  |  | - |  |  |  | 45,424 |  |  |  | 49,780 |
Buildings |  |  | 179,907 |  |  |  | 190,552 |  |  |  | (67,342 | ) |  |  | (66,004 | ) |  |  | 112,565 |  |  |  | 124,548 |
Plant and equipment |  |  | 8,371,990 |  |  |  | 9,222,540 |  |  |  | (2,727,539 | ) |  |  | (2,390,142 | ) |  |  | 5,644,451 |  |  |  | 6,832,398 |
Own aircraft (2) |  |  | 7,732,238 |  |  |  | 8,544,185 |  |  |  | (2,492,940 | ) |  |  | (2,138,612 | ) |  |  | 5,239,298 |  |  |  | 6,405,573 |
Other (3) |  |  | 639,752 |  |  |  | 678,355 |  |  |  | (234,599 | ) |  |  | (251,530 | ) |  |  | 405,153 |  |  |  | 426,825 |
Machinery |  |  | 34,253 |  |  |  | 39,084 |  |  |  | (27,659 | ) |  |  | (29,296 | ) |  |  | 6,594 |  |  |  | 9,788 |
Information technology equipment |  |  | 160,936 |  |  |  | 166,713 |  |  |  | (138,372 | ) |  |  | (136,557 | ) |  |  | 22,564 |  |  |  | 30,156 |
Fixed installations and accessories |  |  | 182,629 |  |  |  | 186,989 |  |  |  | (111,620 | ) |  |  | (106,212 | ) |  |  | 71,009 |  |  |  | 80,777 |
Motor vehicles |  |  | 69,653 |  |  |  | 70,290 |  |  |  | (60,531 | ) |  |  | (58,812 | ) |  |  | 9,122 |  |  |  | 11,478 |
Leasehold improvements |  |  | 211,322 |  |  |  | 186,679 |  |  |  | (128,055 | ) |  |  | (102,454 | ) |  |  | 83,267 |  |  |  | 84,225 |
Other property, plants and equipment |  |  | 4,961,847 |  |  |  | 3,640,838 |  |  |  | (1,633,798 | ) |  |  | (1,355,475 | ) |  |  | 3,328,049 |  |  |  | 2,285,363 |
Financial leasing aircraft (2) |  |  | 4,862,985 |  |  |  | 3,551,041 |  |  |  | (1,604,035 | ) |  |  | (1,328,421 | ) |  |  | 3,258,950 |  |  |  | 2,222,620 |
Other |  |  | 98,862 |  |  |  | 89,797 |  |  |  | (29,763 | ) |  |  | (27,054 | ) |  |  | 69,099 |  |  |  | 62,743 |
Total |  |  | 14,848,281 |  |  |  | 14,310,287 |  |  |  | (4,894,916 | ) |  |  | (4,244,952 | ) |  |  | 9,953,365 |  |  |  | 10,065,335 |
| (1) | As of December 31, 2018, includes advances paid to aircraft manufacturers for ThUS$ 612,236 (ThUS$ 543,720 as of December 31, 2017)
| (2) | In the period ended December 31, 2018, the Company sold its participation in twenty special-purpose entities. As a result of this, 50 aircraft were reclassified from the category Plants and equipment to the category Other properties, plants and equipment.
| (3) | Consider mainly rotables and tools.
Schedule of movement of property, plant and equipment |
Movement in the different categories of Property, plant and equipment:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Other |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Information |  |  | Fixed |  |  |  |  |  |  |  |  | property, |  |  | Property, |
|  |  |  |  |  |  |  |  |  |  | Plant and |  |  | technology |  |  | installations |  |  | Motor |  |  | Leasehold |  |  | plant and |  |  | Plant and |
|  | Construction |  |  |  |  |  | Buildings |  |  | equipment |  |  | equipment |  |  | & accessories |  |  | vehicles |  |  | improvements |  |  | equipment |  |  | equipment |
|  | in progress |  |  | Land |  |  | net |  |  | net |  |  | net |  |  | net |  |  | net |  |  | net |  |  | net |  |  | net |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Opening balance as of January 1, 2016 |  |  | 1,142,812 |  |  |  | 45,313 |  |  |  | 91,491 |  |  |  | 7,341,075 |  |  |  | 43,889 |  |  |  | 88,958 |  |  |  | 1,525 |  |  |  | 54,088 |  |  |  | 2,129,506 |  |  |  | 10,938,657 |
Additions |  |  | 14,481 |  |  |  | - |  |  |  | 272 |  |  |  | 1,301,093 |  |  |  | 7,392 |  |  |  | 292 |  |  |  | 6 |  |  |  | 54,181 |  |  |  | 13,013 |  |  |  | 1,390,730 |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (16,918 | ) |  |  | (59 | ) |  |  | - |  |  |  | (32 | ) |  |  | - |  |  |  | (2,972 | ) |  |  | (19,981 | )
Retirements |  |  | (284 | ) |  |  | - |  |  |  | (68 | ) |  |  | (39,816 | ) |  |  | (55 | ) |  |  | (1,258 | ) |  |  | - |  |  |  | - |  |  |  | (2,604 | ) |  |  | (44,085 | )
Depreciation expenses |  |  | - |  |  |  | - |  |  |  | (6,234 | ) |  |  | (562,131 | ) |  |  | (14,909 | ) |  |  | (13,664 | ) |  |  | (293 | ) |  |  | (23,283 | ) |  |  | (124,038 | ) |  |  | (744,552 | )
Foreing exchange |  |  | 5,081 |  |  |  | 4,835 |  |  |  | 2,538 |  |  |  | 51,770 |  |  |  | 2,924 |  |  |  | 9,384 |  |  |  | 223 |  |  |  | 2,849 |  |  |  | 93,383 |  |  |  | 172,987 |
Other increases (decreases) |  |  | (692,025 | ) |  |  | - |  |  |  | 42,220 |  |  |  | (285,198 | ) |  |  | 532 |  |  |  | 200 |  |  |  | (384 | ) |  |  | 16,706 |  |  |  | (277,658 | ) |  |  | (1,195,607 | )
Changes, total |  |  | (672,747 | ) |  |  | 4,835 |  |  |  | 38,728 |  |  |  | 448,800 |  |  |  | (4,175 | ) |  |  | (5,046 | ) |  |  | (480 | ) |  |  | 50,453 |  |  |  | (300,876 | ) |  |  | (440,508 | )
Closing balance as of December 31, 2016 |  |  | 470,065 |  |  |  | 50,148 |  |  |  | 130,219 |  |  |  | 7,789,875 |  |  |  | 39,714 |  |  |  | 83,912 |  |  |  | 1,045 |  |  |  | 104,541 |  |  |  | 1,828,630 |  |  |  | 10,498,149 |
Opening balance as of January 1, 2017 |  |  | 470,065 |  |  |  | 50,148 |  |  |  | 130,219 |  |  |  | 7,789,875 |  |  |  | 39,714 |  |  |  | 83,912 |  |  |  | 1,045 |  |  |  | 104,541 |  |  |  | 1,828,630 |  |  |  | 10,498,149 |
Additions |  |  | 11,145 |  |  |  | - |  |  |  | - |  |  |  | 258,615 |  |  |  | 5,708 |  |  |  | 329 |  |  |  | 77 |  |  |  | 8,156 |  |  |  | 41,483 |  |  |  | 325,513 |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (16,004 | ) |  |  | (6 | ) |  |  | (10 | ) |  |  | (43 | ) |  |  | - |  |  |  | (27 | ) |  |  | (16,090 | )
Retirements |  |  | (127 | ) |  |  | - |  |  |  | (6 | ) |  |  | (24,341 | ) |  |  | (473 | ) |  |  | (497 | ) |  |  | - |  |  |  | - |  |  |  | (1,610 | ) |  |  | (27,054 | )
Depreciation expenses |  |  | - |  |  |  | - |  |  |  | (7,946 | ) |  |  | (496,857 | ) |  |  | (14,587 | ) |  |  | (14,124 | ) |  |  | (187 | ) |  |  | (27,266 | ) |  |  | (204,237 | ) |  |  | (765,204 | )
|  |  | 107 |  |  |  | (368 | ) |  |  | (275 | ) |  |  | (4,603 | ) |  |  | (183 | ) |  |  | (820 | ) |  |  | (8 | ) |  |  | (243 | ) |  |  | (5,113 | ) |  |  | (11,506 | )
Other increases (decreases) |  |  | 75,632 |  |  |  | - |  |  |  | 2,556 |  |  |  | (653,457 | ) |  |  | (17 | ) |  |  | 11,987 |  |  |  | (448 | ) |  |  | (963 | ) |  |  | 626,237 |  |  |  | 61,527 |
Changes, total |  |  | 86,757 |  |  |  | (368 | ) |  |  | (5,671 | ) |  |  | (936,647 | ) |  |  | (9,558 | ) |  |  | (3,135 | ) |  |  | (609 | ) |  |  | (20,316 | ) |  |  | 456,733 |  |  |  | (432,814 | )
Closing balance as of December 31, 2017 |  |  | 556,822 |  |  |  | 49,780 |  |  |  | 124,548 |  |  |  | 6,853,228 |  |  |  | 30,156 |  |  |  | 80,777 |  |  |  | 436 |  |  |  | 84,225 |  |  |  | 2,285,363 |  |  |  | 10,065,335 |
Opening balance as of January 1, 2018 |  |  | 556,822 |  |  |  | 49,780 |  |  |  | 124,548 |  |  |  | 6,853,228 |  |  |  | 30,156 |  |  |  | 80,777 |  |  |  | 436 |  |  |  | 84,225 |  |  |  | 2,285,363 |  |  |  | 10,065,335 |
Additions |  |  | 7,927 |  |  |  | - |  |  |  | - |  |  |  | 593,210 |  |  |  | 4,995 |  |  |  | 64 |  |  |  | 24 |  |  |  | 20,410 |  |  |  | 42,156 |  |  |  | 668,786 |
Disposals |  |  | - |  |  |  | (8 | ) |  |  | (1,413 | ) |  |  | (4,747 | ) |  |  | (30 | ) |  |  | (73 | ) |  |  | (14 | ) |  |  | - |  |  |  | - |  |  |  | (6,285 | )
Retirements |  |  | (80 | ) |  |  | - |  |  |  | (19 | ) |  |  | (63,711 | ) |  |  | (94 | ) |  |  | (27 | ) |  |  | - |  |  |  | (4 | ) |  |  | (62 | ) |  |  | (63,997 | )
Depreciation expenses |  |  | - |  |  |  | - |  |  |  | (6,219 | ) |  |  | (406,714 | ) |  |  | (11,677 | ) |  |  | (12,538 | ) |  |  | (146 | ) |  |  | (27,766 | ) |  |  | (298,863 | ) |  |  | (763,923 | )
Foreing exchange |  |  | (713 | ) |  |  | (4,348 | ) |  |  | (4,244 | ) |  |  | (42,077 | ) |  |  | (1,818 | ) |  |  | (8,499 | ) |  |  | (28 | ) |  |  | (2,351 | ) |  |  | (52,410 | ) |  |  | (116,488 | )
Other increases (decreases) |  |  | 65,991 |  |  |  | - |  |  |  | (88 | ) |  |  | (1,273,218 | ) |  |  | 733 |  |  |  | 10,194 |  |  |  | 273 |  |  |  | 8,753 |  |  |  | 1,351,559 |  |  |  | 164,197 |
Adjustment application IAS 29 |  |  | 265 |  |  |  | - |  |  |  | - |  |  |  | 3,053 |  |  |  | 264 |  |  |  | 1,018 |  |  |  | 65 |  |  |  | - |  |  |  | 275 |  |  |  | 4,940 |
Hyperinflation Argentina |  |  | 108 |  |  |  | - |  |  |  | - |  |  |  | 509 |  |  |  | 35 |  |  |  | 93 |  |  |  | 24 |  |  |  | - |  |  |  | 31 |  |  |  | 800 |
Changes, total |  |  | 73,498 |  |  |  | (4,356 | ) |  |  | (11,983 | ) |  |  | (1,193,695 | ) |  |  | (7,592 | ) |  |  | (9,768 | ) |  |  | 198 |  |  |  | (958 | ) |  |  | 1,042,686 |  |  |  | (111,970 | )
Closing balance as of December 31, 2018 |  |  | 630,320 |  |  |  | 45,424 |  |  |  | 112,565 |  |  |  | 5,659,533 |  |  |  | 22,564 |  |  |  | 71,009 |  |  |  | 634 |  |  |  | 83,267 |  |  |  | 3,328,049 |  |  |  | 9,953,365 |
Schedule of composition of the fleet |
Composition of the fleet:
|  |  |  | Aircraft included |  |  |  |  |  |  |
|  |  |  | in Property, |  |  | Operating |  |  | Total |
|  |  |  | plant and equipment |  |  | leases |  |  | fleet |
|  |  |  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |  |  | As of |
|  |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |  |  | December 31, |
Aircraft |  | Model |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Boeing 767 |  | 300ER |  |  | 33 |  |  |  | 34 |  |  |  | 2 |  |  |  | 2 |  |  |  | 35 |  |  |  | 36 |
Boeing 767 |  | 300F |  |  | 9 | (4) |  |  | 8 | (1) |  |  | 1 |  |  |  | 2 |  |  |  | 10 | (4) |  |  | 10 | (1)
Boeing 777 |  | 300ER |  |  | 4 |  |  |  | 4 |  |  |  | 6 |  |  |  | 6 |  |  |  | 10 |  |  |  | 10 |
Boeing 777 |  | 200ER |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 2 |  |  |  | - |
Boeing 787 |  | 800 |  |  | 6 |  |  |  | 6 |  |  |  | 4 |  |  |  | 4 |  |  |  | 10 |  |  |  | 10 |
Boeing 787 |  | 900 |  |  | 4 |  |  |  | 4 |  |  |  | 10 |  |  |  | 10 |  |  |  | 14 |  |  |  | 14 |
Airbus A319 |  | 100 |  |  | 37 |  |  |  | 37 |  |  |  | 9 |  |  |  | 9 |  |  |  | 46 |  |  |  | 46 |
Airbus A320 |  | 200 |  |  | 97 | (2) |  |  | 93 | (2) |  |  | 34 |  |  |  | 38 |  |  |  | 131 | (2) |  |  | 131 | (2)
Airbus A320 |  | NEO |  |  | 1 |  |  |  | 1 |  |  |  | 3 |  |  |  | 3 |  |  |  | 4 |  |  |  | 4 |
Airbus A321 |  | 200 |  |  | 30 |  |  |  | 30 |  |  |  | 19 |  |  |  | 17 |  |  |  | 49 |  |  |  | 47 |
Airbus A350 |  | 900 |  |  | 5 | (3) |  |  | 5 | (3) |  |  | 4 | (3) |  |  | 2 | (3) |  |  | 9 | (3) |  |  | 7 | (3)
Total |  |  |  |  | 226 |  |  |  | 222 |  |  |  | 94 |  |  |  | 93 |  |  |  | 320 |  |  |  | 315 |
| (1) | One aircraft leased to FEDEX as of December 2017; three aircraft as of December 2016.
| (2) | Three aircraft leased to Salam Air and two to Sundair
| (3) | Two aircraft leased to Qatar Air. One in operating lease and one in Properties, plant and equipment.
| (4) | One aircraft leased to Aerotransportes Mas de Carga S.A. de C.V. as of December 2018
Schedule of method used for the depreciation of property, plant and equipment |
Method used for the depreciation of Property, plant and equipment:
|  |  |  | Useful life (years) |
|  | Method |  | minimum |  |  | maximum |
Buildings |  | Straight line without residual value |  |  | 20 |  |  |  | 50 |
Plant and equipment |  | Straight line with residual value of 20% in the short-haul fleet and 36% in the long-haul fleet. (*) |  |  | 5 |  |  |  | 23 |
Information technology equipment |  | Straight line without residual value |  |  | 5 |  |  |  | 10 |
Fixed installations and accessories |  | Straight line without residual value |  |  | 10 |  |  |  | 10 |
Motor vehicle |  | Straight line without residual value |  |  | 10 |  |  |  | 10 |
Leasehold improvements |  | Straight line without residual value |  |  | 5 |  |  |  | 5 |
Other property, plant and equipment |  | Straight line with residual value of 20% in the short-haul fleet and 36% in the long-haul fleet. (*) |  |  | 10 |  |  |  | 23 |
(*) Except in the case of the Boeing 767 300ER and Boeing 767 300F fleets that consider a lower residual value due to the extension of their useful life to 22 and 30 years respectively. Additionally, certain technical components are depreciated based on cycles and hours flown. The aircraft with remarketing clause (**) under modality of financial leasing, which are depreciated according to the duration of their contracts, between 12 and 18 years. Its residual values ​​are estimated according to market value at the end of such contracts. (**) Aircraft with remarketing clause are those that are required to sell at the end of the contract.
Schedule of property, plant and equipment pledged as guarantee | Description of Property, plant and equipment pledged as guarantee:
|  |  |  | As of |  |  | As of |
|  |  |  | December 31, |  |  | December 31, |
|  |  |  | 2018 |  |  | 2017 |
Guarantee |  | Assets |  |  |  | Existing |  |  | Book |  |  | Existing |  |  | Book |
agent (1) |  | committed |  | Fleet |  | Debt |  |  | Value |  |  | Debt |  |  | Value |
|  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Wilmington |  | Aircraft and engines |  | Airbus A319 |  |  | 96,057 |  |  |  | 234,329 |  |  |  | - |  |  |  | - |
|  |  |  | Airbus A320 |  |  | 98,903 |  |  |  | 220,390 |  |  |  | - |  |  |  | - |
|  |  |  | Airbus A321 / A350 |  |  | 587,382 |  |  |  | 682,639 |  |  |  | 637,934 |  |  |  | 721,602 |
Trust Company |  |  |  | Boeing 767 |  |  | 82,793 |  |  |  | 206,868 |  |  |  | 593,655 |  |  |  | 888,948 |
|  |  |  | Boeing 787 |  |  | 672,065 |  |  |  | 736,858 |  |  |  | 720,267 |  |  |  | 842,127 |
Banco Santander S.A. |  | Aircraft and engines |  | Airbus A320 |  |  | 172,474 |  |  |  | 275,511 |  |  |  | 199,165 |  |  |  | 291,649 |
|  |  |  | Airbus A321 |  |  | 25,661 |  |  |  | 41,957 |  |  |  | 29,296 |  |  |  | 40,584 |
BNP Paribas |  | Aircraft and engines |  | Airbus A319 |  |  | 26,702 |  |  |  | 45,520 |  |  |  | 84,767 |  |  |  | 136,407 |
|  |  |  | Airbus A320 |  |  | - |  |  |  | - |  |  |  | 110,267 |  |  |  | 175,650 |
Credit Agricole |  | Aircraft and engines |  | Airbus A319 |  |  | 11,154 |  |  |  | 31,865 |  |  |  | 20,874 |  |  |  | 38,826 |
|  |  |  | Airbus A320 |  |  | 134,328 |  |  |  | 132,301 |  |  |  | 46,895 |  |  |  | 98,098 |
|  |  |  | Airbus A321 |  |  | - |  |  |  | - |  |  |  | 30,322 |  |  |  | 85,463 |
|  |  |  | Airbus A350 |  |  | 22,439 |  |  |  | 24,939 |  |  |  | - |  |  |  | - |
|  |  |  | Boeing 767 |  |  | 21,830 |  |  |  | 43,568 |  |  |  | - |  |  |  | - |
|  |  |  | Boeing 787 |  |  | 74,023 |  |  |  | 42,228 |  |  |  | - |  |  |  | - |
Wells Fargo |  | Aircraft and engines |  | Airbus A320 |  |  | 196,540 |  |  |  | 285,877 |  |  |  | 224,786 |  |  |  | 306,660 |
Bank of Utah |  | Aircraft and engines |  | Airbus A320 / A350 |  |  | 556,019 |  |  |  | 630,065 |  |  |  | 614,632 |  |  |  | 666,665 |
Natixis |  | Aircraft and engines |  | Airbus A320 |  |  | - |  |  |  | - |  |  |  | 34,592 |  |  |  | 72,388 |
|  |  |  | Airbus A321 |  |  | 324,524 |  |  |  | 410,771 |  |  |  | 378,418 |  |  |  | 481,397 |
Citibank N. A. |  | Aircraft and engines |  | Airbus A320 |  |  | 78,049 |  |  |  | 132,296 |  |  |  | 94,882 |  |  |  | 141,817 |
|  |  |  | Airbus A321 |  |  | 28,938 |  |  |  | 70,333 |  |  |  | 36,026 |  |  |  | 72,741 |
KfW IPEX-Bank |  | Aircraft and engines |  | Airbus A319 |  |  | - |  |  |  | - |  |  |  | 5,592 |  |  |  | 5,505 |
|  |  |  | Airbus A320 |  |  | - |  |  |  | - |  |  |  | 21,296 |  |  |  | 30,513 |
Airbus Financial Services |  | Aircraft and engines |  | Airbus A319 |  |  | - |  |  |  | - |  |  |  | 22,927 |  |  |  | 26,973 |
|  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
PK AirFinance US, Inc. |  | Aircraft and engines |  | Airbus A320 |  |  | 37,615 |  |  |  | 52,435 |  |  |  | 46,500 |  |  |  | 56,539 |
JP Morgan |  | Aircraft and engines |  | Boeing 777 (2) |  |  | - |  |  |  | - |  |  |  | 169,674 |  |  |  | 216,000 |
Banco BBVA |  | Land and buildings (3) |  |  |  |  | 50,785 |  |  |  | 64,500 |  |  |  | 55,801 |  |  |  | 66,876 |
Total direct guarantee |  |  |  |  | 3,298,281 |  |  |  | 4,365,250 |  |  |  | 4,178,568 |  |  |  | 5,463,428 |
| (1) | For syndicated loans, is the Guarantee Agent that, represent different creditors.
| (2) | At December 31, 2017 these assets were classified on Non-current assets and groups in expropriation held for sale.
| (3) | Corresponds to a debt classified in item loans to exporters (see Note 19).
Schedule of fully depreciated assets and commitments for future purchases | Fully depreciated assets and commitments for future purchases are as follows:
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
|  | 2018 |  |  | 2017 |
|  | ThUS$ |  |  | ThUS$ |
Gross book value of fully depreciated property, plant and equipment still in use |  |  | 192,606 |  |  |  | 136,811 |
Commitments for the acquisition of aircraft (*) |  |  | 14,400,000 |  |  |  | 15,400,000 |
| (*) | Acording to the manufacturer’s price list.
Schedule of purchase commitment | Purchase commitment of aircraft
|  | Year of delivery |  |  |  |
Manufacturer |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023-2026 |  |  | Total |
Airbus S.A.S. |  |  | 13 |  |  |  | 9 |  |  |  | 13 |  |  |  | 11 |  |  |  | 21 |  |  |  | 67 |
A320-NEO |  |  | 9 |  |  |  | 5 |  |  |  | 6 |  |  |  | 5 |  |  |  | 7 |  |  |  | 32 |
A321-NEO |  |  | - |  |  |  | 4 |  |  |  | 5 |  |  |  | 4 |  |  |  | 6 |  |  |  | 19 |
A350-1000 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 8 |  |  |  | 8 |
A350-900 |  |  | 4 |  |  |  | - |  |  |  | 2 |  |  |  | 2 |  |  |  | - |  |  |  | 8 |
The Boeing Company |  |  | 2 |  |  |  | 2 |  |  |  | 2 |  |  |  | - |  |  |  | 4 |  |  |  | 10 |
Boeing 777-F |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | 2 |
Boeing 787-9 |  |  | 2 |  |  |  | 2 |  |  |  | 2 |  |  |  | - |  |  |  | 2 |  |  |  | 8 |
Total |  |  | 15 |  |  |  | 11 |  |  |  | 15 |  |  |  | 11 |  |  |  | 25 |  |  |  | 77 |
Schedule of capitalized interest costs |
Capitalized interest costs with respect to Property, plant and equipment.
|  |  |  | For the year ended |
|  |  |  | December 31, |
|  |  |  | 2018 |  |  | 2017 |  |  | 2016 |
Average rate of capitalization of capitalized interest costs |  | % |  |  | 4.62 |  |  |  | 4,12 |  |  |  | 3.54 |
Costs of capitalized interest |  | ThUS$ |  |  | 15,398 |  |  |  | 8,210 |  |  |  | (696 | )
Schedule of financial leases | The detail of the main financial leases is as follows:
|  |  |  |  |  | As of |  |  | As of |
|  | Aircraft |  |  |  | December 31, |  |  | December 31, |
Lessor |  | engines and rotables |  | Model |  | 2018 |  |  | 2017 |
777 Components Leasing. LLC |  | Boeing 777 |  | Rotables |  |  | 1 |  |  |  | - |
Amendoeira Leasing Limited |  | Airbus A319 |  | 100 |  |  | 1 |  |  |  | - |
Angelim Leasing Limited |  | Airbus A319 |  | 100 |  |  | 1 |  |  |  | - |
Angelim Leasing Limited |  | Airbus A320 |  | 200 |  |  | 2 |  |  |  | - |
Angelim Leasing Limited |  | Airbus A321 |  | 200 |  |  | 2 |  |  |  | - |
Araucaria Leasing Limited |  | Airbus A320 |  | 200 |  |  | 1 |  |  |  | - |
Azalea Leasing Limited |  | Airbus A320 |  | 200 |  |  | 1 |  |  |  | - |
Bandurria Leasing Limited |  | Airbus A319 |  | 100 |  |  | 3 |  |  |  | 3 |
Bandurria Leasing Limited |  | Airbus A320 |  | 200 |  |  | 4 |  |  |  | 4 |
Becacina Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 1 |  |  |  | 1 |
Chucao Leasing Limited |  | Airbus A319 |  | 100 |  |  | 2 |  |  |  | - |
Caiquen Leasing LLC |  | Boeing 767 |  | 300F |  |  | - |  |  |  | 1 |
Cisne Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 2 |  |  |  | 2 |
Conure Leasing Limited |  | Airbus A320 |  | 200 |  |  | 2 |  |  |  | 2 |
Figueira Leasing Limited |  | Airbus A320 |  | 200 |  |  | 1 |  |  |  | - |
Flamenco Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 1 |  |  |  | 1 |
FLYAFI 1 S.R.L. |  | Boeing 777 |  | 300ER |  |  | 1 |  |  |  | 1 |
FLYAFI 2 S.R.L. |  | Boeing 777 |  | 300ER |  |  | 1 |  |  |  | 1 |
FLYAFI 3 S.R.L. |  | Boeing 777 |  | 300ER |  |  | 1 |  |  |  | 1 |
Fragata Leasing LLC |  | Boeing 787 |  | 800 |  |  | 1 |  |  |  | - |
Garza Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 1 |  |  |  | 1 |
Golondrina Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 4 |  |  |  | - |
Imbuia Leasing Limited |  | Airbus A320 |  | 200 |  |  | 1 |  |  |  | - |
Jacarandá Leasing Limited |  | Airbus A320 |  | 200 |  |  | 1 |  |  |  | - |
Jatobá Leasing Limited |  | Airbus A319 |  | 100 |  |  | 1 |  |  |  | - |
Jilguero Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 3 |  |  |  | 3 |
Loica Leasing Limited |  | Airbus A319 |  | 100 |  |  | 2 |  |  |  | 2 |
Loica Leasing Limited |  | Airbus A320 |  | 200 |  |  | 2 |  |  |  | 2 |
Massaranduba Leasing Limited |  | Airbus A320 |  | 200 |  |  | 2 |  |  |  | - |
Massaranduba Leasing Limited |  | Airbus A321 |  | 200 |  |  | 3 |  |  |  | - |
Mirlo Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 1 |  |  |  | 1 |
Mogno Leasing Limited |  | Airbus A319 |  | 100 |  |  | 1 |  |  |  | - |
NBB Rio de Janeiro Lease CO and Brasilia Lease LLC (BBAM) |  | Airbus A320 |  | 200 |  |  | 1 |  |  |  | 1 |
NBB São Paulo Lease CO. Limited (BBAM) |  | Airbus A321 |  | 200 |  |  | 1 |  |  |  | 1 |
Osprey Leasing Limited |  | Airbus A319 |  | 100 |  |  | - |  |  |  | 8 |
Patagon Leasing Limited |  | Airbus A319 |  | 100 |  |  | 3 |  |  |  | 3 |
Petrel Leasing LLC |  | Boeing 767 |  | 300ER |  |  | - |  |  |  | 1 |
Pau Brasil Leasing Limited |  | Airbus A319 |  | 100 |  |  | 1 |  |  |  | - |
Pochard Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 2 |  |  |  | 2 |
Quetro Leasing LLC |  | Boeing 767 |  | 300ER |  |  | - |  |  |  | 3 |
Rolls Royce Leasing Limited |  | Motor |  | TRENTXWB |  |  | 1 |  |  |  | - |
SG Infraestructure Italia S.R.L. |  | Boeing 777 |  | 300ER |  |  | 1 |  |  |  | 1 |
Sibipiruna Leasing Limited |  | Airbus A320 |  | 200 |  |  | 2 |  |  |  | - |
SL Alcyone LTD (Showa) |  | Airbus A320 |  | 200 |  |  | 1 |  |  |  | 1 |
Tagua Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 9 |  |  |  | - |
Tiuque Leasing Limited |  | Airbus A319 |  | 100 |  |  | 1 |  |  |  | - |
Tiuque Leasing Limited |  | Airbus A320 |  | 200 |  |  | 5 |  |  |  | - |
Torcaza Leasing Limited |  | Airbus A320 |  | 200 |  |  | 8 |  |  |  | 8 |
Tricahue Leasing LLC |  | Boeing 767 |  | 300ER |  |  | 3 |  |  |  | 3 |
Wacapou Leasing S.A |  | Airbus A320 |  | 200 |  |  | 1 |  |  |  | 1 |
Wells Fargo Trust Company, N.A. |  | Airbus A319 |  | 100 |  |  | - |  |  |  | 1 |
Ype Leasing Limited |  | Airbus A319 |  | 100 |  |  | 1 |  |  |  | - |
Total |  |  |  |  |  |  | 92 |  |  |  | 60 |
Schedule of minimum payments under financial leases | The minimum payments under financial leases are as follows:
|  | As of December 31, 2018 |  |  | As of December 31, 2017 |  |  | As of December 31, 2016 |
|  | Gross |  |  |  |  |  | Present |  |  | Gross |  |  |  |  |  | Present |  |  | Gross |  |  |  |  |  | Present |
|  | Value |  |  | Interest |  |  | Value |  |  | Value |  |  | Interest |  |  | Value |  |  | Value |  |  | Interest |  |  | Value |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
No later than one year |  |  | 442,030 |  |  |  | (43,871 | ) |  |  | 398,159 |  |  |  | 303,863 |  |  |  | (32,447 | ) |  |  | 271,416 |  |  |  | 285,168 |  |  |  | (32,365 | ) |  |  | 252,803 |
Between one and five years |  |  | 1,188,032 |  |  |  | (50,610 | ) |  |  | 1,137,422 |  |  |  | 835,696 |  |  |  | (30,050 | ) |  |  | 805,646 |  |  |  | 704,822 |  |  |  | (43,146 | ) |  |  | 661,676 |
Over five years |  |  | 116,955 |  |  |  | (5,830 | ) |  |  | 111,125 |  |  |  | 36,788 |  |  |  | (816 | ) |  |  | 35,972 |  |  |  | 43,713 |  |  |  | (120 | ) |  |  | 43,593 |
Total |  |  | 1,747,017 |  |  |  | (100,311 | ) |  |  | 1,646,706 |  |  |  | 1,176,347 |  |  |  | (63,313 | ) |  |  | 1,113,034 |  |  |  | 1,033,703 |  |  |  | (75,631 | ) |  |  | 958,072 |

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