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TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE | 12 Months Ended
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Dec. 31, 2018
Trade and other receivables [abstract] |
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE | NOTE 8 - TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
|  | 2018 |  |  | 2017 |
|  | ThUS$ |  |  | ThUS$ |
Trade accounts receivable |  |  | 1,077,561 |  |  |  | 1,175,796 |
Other accounts receivable |  |  | 188,393 |  |  |  | 133,054 |
Total trade and other accounts receivable |  |  | 1,265,954 |  |  |  | 1,308,850 |
Less: Allowance for impairment loss |  |  | (97,991 | ) |  |  | (87,909 | )
Total net trade and accounts receivable |  |  | 1,167,963 |  |  |  | 1,220,941 |
Less: non-current portion – accounts receivable |  |  | (5,381 | ) |  |  | (6,891 | )
Trade and other accounts receivable, current |  |  | 1,162,582 |  |  |  | 1,214,050 |
The fair value of trade and other accounts receivable does not differ significantly from the book value. The maturity of the portfolio as of December 31, 2017 is as follows:
Up to date |  |  | 1,040,671 |
Matured accounts receivable, but not impaired |  |  |  |
Expired from 1 to 90 days |  |  | 34,153 |
Expired from 91 to 180 days |  |  | 10,141 |
More than 180 days overdue (*) |  |  | 2,922 |
Total matured accounts receivable, but not impaired |  |  | 47,216 |
Matured accounts receivable and impaired Judicial, pre-judicial collection and protested documents |  |  | 43,175 |
Debtor under pre-judicial collection process and portfolio sensitization |  |  | 44,734 |
Total matured accounts receivable and impaired |  |  | 87,909 |
Total |  |  | 1,175,796 |
(*) Value of this segment corresponds primarily to accounts receivable that were evaluated in their ability to recover, therefore not requiring a provision. As of December 31, 2018, in order to determine the expected credit losses, the company groups accounts receivable for passenger and cargo transportation; depending on the characteristics of shared credit risk and maturity.
|  | Portfolio maturity |  |  |  |
|  |  |  |  | from 1 to |  |  | from 91 to |  |  | from 181 to |  |  | more of |  |  |  |
|  | Up to date |  |  | 90 days |  |  | 180 days |  |  | 360 days |  |  | 360 days |  |  | Total |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Expected loss rate (1) |  |  | 3 | % |  |  | 5 | % |  |  | 45 | % |  |  | 65 | % |  |  | 76 | % |  |  | 9 | %
Gross book value (2) |  |  | 888,930 |  |  |  | 91,387 |  |  |  | 11,085 |  |  |  | 15,078 |  |  |  | 71,081 |  |  |  | 1,077,561 |
Impairment loss provision |  |  | (23,933 | ) |  |  | (5,014 | ) |  |  | (4,983 | ) |  |  | (9,864 | ) |  |  | (54,197 | ) |  |  | (97,991 | )
(1) Corresponds to the expected average rate. (2) the gross book value represents the maximum growth risk value of trade accounts receivable. Currency balances that make up the Trade and other accounts receivable and non-current accounts receivable are the following:
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
Currency |  | 2018 |  |  | 2017 |
|  | ThUS$ |  |  | ThUS$ |
Argentine Peso |  |  | 82,893 |  |  |  | 49,958 |
Brazilian Real |  |  | 511,174 |  |  |  | 635,894 |
Chilean Peso |  |  | 118,546 |  |  |  | 90,302 |
Colombian peso |  |  | 7,259 |  |  |  | 3,249 |
Euro |  |  | 49,044 |  |  |  | 48,286 |
US Dollar |  |  | 110,312 |  |  |  | 257,324 |
Other currency (*) |  |  | 288,735 |  |  |  | 135,928 |
Total |  |  | 1,167,963 |  |  |  | 1,220,941 |
(*) Other currencies |  |  |  |  |  |  |  |
Australian Dollar |  |  | 100,733 |  |  |  | 40,303 |
Chinese Yuan |  |  | 5,106 |  |  |  | 37 |
Danish Krone |  |  | 475 |  |  |  | 197 |
Pound Sterling |  |  | 18,129 |  |  |  | 5,068 |
Indian Rupee |  |  | 7,163 |  |  |  | 3,277 |
Japanese Yen |  |  | 56,589 |  |  |  | 18,756 |
Norwegian Kroner |  |  | 283 |  |  |  | 133 |
Swiss Franc |  |  | 5,046 |  |  |  | 2,430 |
Korean Won |  |  | 31,381 |  |  |  | 18,225 |
New Taiwanese Dollar |  |  | 6,180 |  |  |  | 2,983 |
Other currencies |  |  | 57,650 |  |  |  | 44,519 |
Total |  |  | 288,735 |  |  |  | 135,928 |
The movements of the provision for impairment losses of the Trade Debtors and other accounts receivable are as follows:
|  |  |  |  | Adoption |  |  |  |  |  |  |  |  |  |
|  | Opening |  |  | adjustment |  |  |  |  |  | (Increase) |  |  | Closing |
|  | balance |  |  | IFRS 9 (*) |  |  | Write-offs |  |  | Decrease |  |  | balance |
Periods |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
From January 1 to December 31, 2016 |  |  | (60,072 | ) |  |  | - |  |  |  | 20,910 |  |  |  | (37,892 | ) |  |  | (77,054 | )
From January 1 to December 31, 2017 |  |  | (77,054 | ) |  |  | - |  |  |  | 8,249 |  |  |  | (19,104 | ) |  |  | (87,909 | )
From January 1 to December 31, 2018 |  |  | (87,909 | ) |  |  | (10,524 | ) |  |  | 8,620 |  |  |  | (8,178 | ) |  |  | (97,991 | )
(*) Adjustment to the balance as of December 31, 2017 registered in retained earnings as of 01.01.2018 for the adoption of IFRS 9. Once pre-judicial and judicial collection efforts are exhausted, the assets are written off against the allowance. The Company only uses the allowance method rather than direct write-off, to ensure control. The historical and current renegotiations are not very relevant and the policy is to analyze case by case to classify them according to the existence of risk, determining if their reclassification corresponds to pre-judicial collection accounts. The maximum credit-risk exposure at the date of presentation of the information is the fair value of each one of the categories of accounts receivable indicated above.
|  | As of December 31, 2018 |  |  | As of December 31, 2017 |
|  | Gross exposure |  |  | Gross |  |  | Exposure net |  |  | Gross exposure |  |  | Gross |  |  | Exposure net |
|  | according to |  |  | impaired |  |  | of risk |  |  | according to |  |  | Impaired |  |  | of risk |
|  | balance |  |  | exposure |  |  | concentrations |  |  | balance |  |  | exposure |  |  | concentrations |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Trade accounts receivable |  |  | 1,077,561 |  |  |  | (97,991 | ) |  |  | 979,570 |  |  |  | 1,175,796 |  |  |  | (87,909 | ) |  |  | 1,087,887 |
Other accounts receivable |  |  | 188,393 |  |  |  | - |  |  |  | 188,393 |  |  |  | 133,054 |  |  |  | - |  |  |  | 133,054 |
There are no relevant guarantees covering credit risk and these are valued when they are settled; no materially significant direct guarantees exist. Existing guarantees, if appropriate, are made through IATA.

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2018-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_10_e&doctype=Standard -URIDate 2018-03-16 + Details
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