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PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended
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Dec. 31, 2019
Disclosure of property, plant and equipment [text block] [Abstract] |
Disclosure of detailed information about property, plant and equipment [text block] |
|  | Gross Book Value |  |  | Accumulated 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, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
|  |  |  |  | Restated |  |  |  |  |  | Restated |  |  |  |  |  | Restated |
Construction in progress (1) |  |  | 372,589 |  |  |  | 630,320 |  |  |  | - |  |  |  | - |  |  |  | 372,589 |  |  |  | 630,320 |
Land |  |  | 48,406 |  |  |  | 45,424 |  |  |  | - |  |  |  | - |  |  |  | 48,406 |  |  |  | 45,424 |
Buildings |  |  | 133,488 |  |  |  | 179,907 |  |  |  | (58,626 | ) |  |  | (67,342 | ) |  |  | 74,862 |  |  |  | 112,565 |
Plant and equipment |  |  | 13,993,044 |  |  |  | 13,333,837 |  |  |  | (4,630,001 | ) |  |  | (4,361,337 | ) |  |  | 9,363,043 |  |  |  | 8,972,500 |
Own aircraft |  |  | 13,268,562 |  |  |  | 12,595,223 |  |  |  | (4,421,211 | ) |  |  | (4,096,975 | ) |  |  | 8,847,351 |  |  |  | 8,498,248 |
Other (2) |  |  | 724,482 |  |  |  | 738,614 |  |  |  | (208,790 | ) |  |  | (264,362 | ) |  |  | 515,692 |  |  |  | 474,252 |
Machinery |  |  | 33,658 |  |  |  | 34,253 |  |  |  | (28,441 | ) |  |  | (27,659 | ) |  |  | 5,217 |  |  |  | 6,594 |
Information technology equipment |  |  | 161,992 |  |  |  | 160,936 |  |  |  | (141,216 | ) |  |  | (138,372 | ) |  |  | 20,776 |  |  |  | 22,564 |
Fixed installations and accessories |  |  | 171,469 |  |  |  | 182,629 |  |  |  | (111,635 | ) |  |  | (111,620 | ) |  |  | 59,834 |  |  |  | 71,009 |
Motor vehicles |  |  | 67,060 |  |  |  | 69,653 |  |  |  | (60,327 | ) |  |  | (60,531 | ) |  |  | 6,733 |  |  |  | 9,122 |
Leasehold improvements |  |  | 234,249 |  |  |  | 211,322 |  |  |  | (135,789 | ) |  |  | (128,055 | ) |  |  | 98,460 |  |  |  | 83,267 |
Right of use |  |  | 5,693,553 |  |  |  | 4,987,953 |  |  |  | (2,823,855 | ) |  |  | (2,439,509 | ) |  |  | 2,869,698 |  |  |  | 2,548,444 |
Aircraft |  |  | 5,438,404 |  |  |  | 4,761,529 |  |  |  | (2,669,864 | ) |  |  | (2,305,195 | ) |  |  | 2,768,540 |  |  |  | 2,456,334 |
Other assets |  |  | 255,149 |  |  |  | 226,424 |  |  |  | (153,991 | ) |  |  | (134,314 | ) |  |  | 101,158 |  |  |  | 92,110 |
Total |  |  | 20,909,508 |  |  |  | 19,836,234 |  |  |  | (7,989,890 | ) |  |  | (7,334,425 | ) |  |  | 12,919,618 |  |  |  | 12,501,809 |
| (1) | As of December 31, 2019, includes advances paid to aircraft manufacturers for ThUS$ 348,148 (ThUS$ 612,236 as of December 31, 2018)
| (2) | Consider mainly rotables and tools.
Schedule of movement of property, plant and equipment |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Information |  |  | Fixed |  |  |  |  |  |  |  |  |  |  |  | Property, |
|  |  |  |  |  |  |  |  |  |  | Plant and |  |  | technology |  |  | installations |  |  | Motor |  |  | Leasehold |  |  | Rights |  |  | Plant and |
|  | Construction |  |  |  |  |  | Buildings |  |  | equipment |  |  | equipment |  |  | & accessories |  |  | Vehicles |  |  | improvements |  |  | of use |  |  | 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, 2017 Restated |  |  | 470,065 |  |  |  | 50,148 |  |  |  | 130,219 |  |  |  | 9,618,505 |  |  |  | 39,714 |  |  |  | 83,912 |  |  |  | 1,045 |  |  |  | 104,541 |  |  |  | 2,931,101 |  |  |  | 13,429,250 |
Additions |  |  | 11,145 |  |  |  | - |  |  |  | - |  |  |  | 300,098 |  |  |  | 5,708 |  |  |  | 329 |  |  |  | 77 |  |  |  | 8,156 |  |  |  | 288,142 |  |  |  | 613,655 |
Disposals |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (16,031 | ) |  |  | (6 | ) |  |  | (10 | ) |  |  | (43 | ) |  |  | - |  |  |  | - |  |  |  | (16,090 | )
Retirements |  |  | (127 | ) |  |  | - |  |  |  | (6 | ) |  |  | (25,951 | ) |  |  | (473 | ) |  |  | (497 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (27,054 | )
Depreciation expenses |  |  | - |  |  |  | - |  |  |  | (7,946 | ) |  |  | (701,094 | ) |  |  | (14,587 | ) |  |  | (14,124 | ) |  |  | (187 | ) |  |  | (27,266 | ) |  |  | (375,510 | ) |  |  | (1,140,714 | )
Foreign exchange |  |  | 107 |  |  |  | (368 | ) |  |  | (275 | ) |  |  | (9,716 | ) |  |  | (183 | ) |  |  | (820 | ) |  |  | (8 | ) |  |  | (243 | ) |  |  | - |  |  |  | (11,506 | )
Other increases (decreases) |  |  | 75,632 |  |  |  | - |  |  |  | 2,556 |  |  |  | (27,220 | ) |  |  | (17 | ) |  |  | 11,987 |  |  |  | (448 | ) |  |  | (963 | ) |  |  | 21,584 |  |  |  | 83,111 |
Changes, total |  |  | 86,757 |  |  |  | (368 | ) |  |  | (5,671 | ) |  |  | (479,914 | ) |  |  | (9,558 | ) |  |  | (3,135 | ) |  |  | (609 | ) |  |  | (20,316 | ) |  |  | (65,784 | ) |  |  | (498,598 | )
Closing balance as of December 31, 2017 |  |  | 556,822 |  |  |  | 49,780 |  |  |  | 124,548 |  |  |  | 9,138,591 |  |  |  | 30,156 |  |  |  | 80,777 |  |  |  | 436 |  |  |  | 84,225 |  |  |  | 2,865,317 |  |  |  | 12,930,652 |
Opening balance as of January 1, 2018 Restated |  |  | 556,822 |  |  |  | 49,780 |  |  |  | 124,548 |  |  |  | 9,138,591 |  |  |  | 30,156 |  |  |  | 80,777 |  |  |  | 436 |  |  |  | 84,225 |  |  |  | 2,865,317 |  |  |  | 12,930,652 |
Additions |  |  | 7,927 |  |  |  | - |  |  |  | - |  |  |  | 635,367 |  |  |  | 4,995 |  |  |  | 64 |  |  |  | 24 |  |  |  | 20,410 |  |  |  | 326,298 |  |  |  | 995,085 |
Disposals |  |  | - |  |  |  | (8 | ) |  |  | (1,412 | ) |  |  | (4,747 | ) |  |  | (30 | ) |  |  | (74 | ) |  |  | (14 | ) |  |  | - |  |  |  | - |  |  |  | (6,285 | )
Retirements |  |  | (80 | ) |  |  | - |  |  |  | (19 | ) |  |  | (63,774 | ) |  |  | (92 | ) |  |  | (27 | ) |  |  | - |  |  |  | (4 | ) |  |  | - |  |  |  | (63,996 | )
Depreciation expenses |  |  | - |  |  |  | - |  |  |  | (6,219 | ) |  |  | (705,577 | ) |  |  | (11,677 | ) |  |  | (12,538 | ) |  |  | (146 | ) |  |  | (27,766 | ) |  |  | (391,138 | ) |  |  | (1,155,061 | )
Foreign exchange |  |  | (714 | ) |  |  | (4,348 | ) |  |  | (4,244 | ) |  |  | (94,488 | ) |  |  | (1,819 | ) |  |  | (8,499 | ) |  |  | (28 | ) |  |  | (2,351 | ) |  |  | (13,751 | ) |  |  | (130,242 | )
Other increases (decreases) |  |  | 65,992 |  |  |  | - |  |  |  | (89 | ) |  |  | 78,341 |  |  |  | 732 |  |  |  | 10,195 |  |  |  | 273 |  |  |  | 8,753 |  |  |  | (238,282 | ) |  |  | (74,085 | )
Adjustment application IAS 29 |  |  | 373 |  |  |  | - |  |  |  | - |  |  |  | 3,869 |  |  |  | 299 |  |  |  | 1,111 |  |  |  | 89 |  |  |  | - |  |  |  | - |  |  |  | 5,741 |
Changes, total |  |  | 73,498 |  |  |  | (4,356 | ) |  |  | (11,983 | ) |  |  | (151,009 | ) |  |  | (7,592 | ) |  |  | (9,768 | ) |  |  | 198 |  |  |  | (958 | ) |  |  | (316,873 | ) |  |  | (428,843 | )
Closing balance as of December 31, 2018 Restated |  |  | 630,320 |  |  |  | 45,424 |  |  |  | 112,565 |  |  |  | 8,987,582 |  |  |  | 22,564 |  |  |  | 71,009 |  |  |  | 634 |  |  |  | 83,267 |  |  |  | 2,548,444 |  |  |  | 12,501,809 |
Opening balance as of January 1, 2019 (Restated ) |  |  | 630,320 |  |  |  | 45,424 |  |  |  | 112,565 |  |  |  | 8,987,582 |  |  |  | 22,564 |  |  |  | 71,009 |  |  |  | 634 |  |  |  | 83,267 |  |  |  | 2,548,444 |  |  |  | 12,501,809 |
Additions |  |  | 21,884 |  |  |  | 7,950 |  |  |  | - |  |  |  | 1,694,640 |  |  |  | 6,580 |  |  |  | 26 |  |  |  | 73 |  |  |  | 34,988 |  |  |  | 753,164 |  |  |  | 2,519,305 |
Disposals |  |  | - |  |  |  | (28 | ) |  |  | (47 | ) |  |  | (23,945 | ) |  |  | (13 | ) |  |  | (75 | ) |  |  | (11 | ) |  |  | - |  |  |  | - |  |  |  | (24,119 | )
Retirements |  |  | (20 | ) |  |  | - |  |  |  | - |  |  |  | (64,838 | ) |  |  | (85 | ) |  |  | (77 | ) |  |  | - |  |  |  | (362 | ) |  |  | - |  |  |  | (65,382 | )
Depreciation expenses |  |  | - |  |  |  | - |  |  |  | (5,768 | ) |  |  | (776,225 | ) |  |  | (8,574 | ) |  |  | (11,945 | ) |  |  | (94 | ) |  |  | (19,001 | ) |  |  | (400,384 | ) |  |  | (1,221,991 | )
Foreign exchange |  |  | (1,340 | ) |  |  | (1,103 | ) |  |  | (914 | ) |  |  | (24,615 | ) |  |  | (234 | ) |  |  | (2,007 | ) |  |  | (125 | ) |  |  | (432 | ) |  |  | (4,561 | ) |  |  | (35,331 | )
Other increases (decreases) |  |  | (278,255 | ) |  |  | (3,837 | ) |  |  | (30,974 | ) |  |  | (418,083 | ) |  |  | 538 |  |  |  | 2,903 |  |  |  | - |  |  |  | - |  |  |  | (26,965 | ) |  |  | (754,673 | )
Changes, total |  |  | (257,731 | ) |  |  | 2,982 |  |  |  | (37,703 | ) |  |  | 386,934 |  |  |  | (1,788 | ) |  |  | (11,175 | ) |  |  | (157 | ) |  |  | 15,193 |  |  |  | 321,254 |  |  |  | 417,809 |
Closing balance as of December 31, 2019 |  |  | 372,589 |  |  |  | 48,406 |  |  |  | 74,862 |  |  |  | 9,374,516 |  |  |  | 20,776 |  |  |  | 59,834 |  |  |  | 477 |  |  |  | 98,460 |  |  |  | 2,869,698 |  |  |  | 12,919,618 |
Schedule of composition of the fleet |
|  |  |  | Aircraft included |  |  | Aircraft included |  |  |  |
|  |  |  | in Property, |  |  | as Rights |  |  | Total |
|  |  |  | plant and equipment |  |  | of use assets |  |  | 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 |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Boeing 767 |  | 300ER |  |  | 28 |  |  |  | 33 |  |  |  | 2 |  |  |  | 2 |  |  |  | 30 |  |  |  | 35 |
Boeing 767 |  | 300F |  |  | 11 | (1) |  |  | 9 | (1) |  |  | 1 |  |  |  | 1 |  |  |  | 12 | (1) |  |  | 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 |  |  | 6 |  |  |  | 4 |  |  |  | 10 |  |  |  | 10 |  |  |  | 16 |  |  |  | 14 |
Airbus A319 |  | 100 |  |  | 37 |  |  |  | 37 |  |  |  | 9 |  |  |  | 9 |  |  |  | 46 |  |  |  | 46 |
Airbus A320 |  | 200 |  |  | 96 | (2) |  |  | 97 | (2) |  |  | 46 |  |  |  | 34 |  |  |  | 142 | (2) |  |  | 131 | (2)
Airbus A320 |  | NEO |  |  | 7 |  |  |  | 1 |  |  |  | 6 |  |  |  | 3 |  |  |  | 13 |  |  |  | 4 |
Airbus A321 |  | 200 |  |  | 30 |  |  |  | 30 |  |  |  | 19 |  |  |  | 19 |  |  |  | 49 |  |  |  | 49 |
Airbus A350 |  | 900 |  |  | 2 |  |  |  | 5 |  |  |  | 7 | (3) |  |  | 4 | (3) |  |  | 9 | (3) |  |  | 9 |
Total |  |  |  |  | 227 |  |  |  | 226 |  |  |  | 110 |  |  |  | 94 |  |  |  | 337 |  |  |  | 320 |
(1) One aircraft leased to Aerotransportes Mas de Carga S.A. de C.V. (2) Three aircraft leased to Salam Air and two to Sundair (3) Four aircraft leased to Qatar Airways, which are in assets by right of use.
Schedule of 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 |  |  |  | 30 |
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 |  |  |  | 8 |
Assets for rights of use |  | Straight line without residual value |  |  | 1 |  |  |  | 25 |
| (*) | 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 |
|  |  |  |  |  | As of |  |  | As of |
|  |  |  |  |  | December 31, |  |  | December 31, |
|  |  |  |  |  | 2019 |  |  | 2018 |
Guarantee |  | Creditor |  |  |  | Existing |  |  | Book |  |  | Existing |  |  | Book |
agent (1) |  | company |  | Fleet |  | Debt |  |  | Value |  |  | Debt |  |  | Value |
|  |  |  |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
Wilmington |  | MUFG |  | Airbus A319 |  |  | 74,713 |  |  |  | 256,937 |  |  |  | 96,057 |  |  |  | 234,329 |
Trust Company |  |  |  | Airbus A320 |  |  | 70,644 |  |  |  | 256,651 |  |  |  | 98,903 |  |  |  | 220,390 |
|  |  |  | Boeing 767 |  |  | 61,728 |  |  |  | 196,244 |  |  |  | 82,793 |  |  |  | 206,868 |
|  |  |  | Boeing 787 |  |  | 120,938 |  |  |  | 127,283 |  |  |  | 144,312 |  |  |  | 133,388 |
|  |  |  | Airbus A321 |  |  | 353,774 |  |  |  | 452,107 |  |  |  | 389,080 |  |  |  | 477,778 |
|  |  |  | Boeing 787 |  |  | 332,131 |  |  |  | 374,998 |  |  |  | 365,375 |  |  |  | 398,510 |
|  | Aircraft and engines |  | Airbus A350 |  |  | 180,320 |  |  |  | 192,620 |  |  |  | 198,301 |  |  |  | 204,860 |
|  |  |  | Boeing 787 |  |  | 143,475 |  |  |  | 191,804 |  |  |  | 162,378 |  |  |  | 204,961 |
Banco Santander S.A. |  | Aircraft and engines |  | Airbus A320 |  |  | - |  |  |  | - |  |  |  | 172,474 |  |  |  | 275,511 |
|  |  |  | Airbus A321 |  |  | - |  |  |  | - |  |  |  | 25,661 |  |  |  | 41,957 |
BNP Paribas |  | Aircraft and engines |  | Airbus A319 |  |  | - |  |  |  | - |  |  |  | 9,693 |  |  |  | 19,113 |
BNP Paribas |  |  |  | Airbus A319 |  |  | - |  |  |  | - |  |  |  | 17,009 |  |  |  | 26,407 |
Credit Agricole |  |  |  | Airbus A319 |  |  | - |  |  |  | - |  |  |  | 11,154 |  |  |  | 31,865 |
|  |  |  | Airbus A320 |  |  | 85,986 |  |  |  | 95,148 |  |  |  | 134,328 |  |  |  | 132,301 |
|  |  |  | Airbus A321 / A350 |  |  | 83,281 |  |  |  | 67,882 |  |  |  | 22,439 |  |  |  | 24,939 |
|  |  |  | Boeing 767 |  |  | 10,404 |  |  |  | 35,226 |  |  |  | 21,830 |  |  |  | 43,568 |
|  | Aircraft and engines |  | Boeing 787 |  |  | 74,023 |  |  |  | 36,594 |  |  |  | 74,023 |  |  |  | 42,228 |
Wells Fargo |  | Aircraft and engines |  | Airbus A320 |  |  | - |  |  |  | - |  |  |  | 196,540 |  |  |  | 285,877 |
Bank Of Utah |  | Aircraft and engines (2) |  | Airbus A320 / A350 |  |  | 296,441 |  |  |  | 378,462 |  |  |  | 502,006 |  |  |  | 630,065 |
|  |  |  | Boeing 787 |  |  | 217,500 |  |  |  | 259,934 |  |  |  | - |  |  |  | - |
|  | Aircraft and engines (2) |  | Airbus A320 / A350 |  |  | 44,088 |  |  |  | - |  |  |  | 54,014 |  |  |  | - |
|  | Aircraft and engines |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Natixis |  |  |  | Airbus A321 |  |  | 282,927 |  |  |  | 384,224 |  |  |  | 324,524 |  |  |  | 410,771 |
Citibank N.A. |  | Aircraft and engines |  | Airbus A320 |  |  | - |  |  |  | - |  |  |  | 78,049 |  |  |  | 132,296 |
|  |  |  | Airbus A321 |  |  | - |  |  |  | - |  |  |  | 28,938 |  |  |  | 70,333 |
UMB Bank |  | Aircraft and engines |  | Airbus A320 |  |  | 106,250 |  |  |  | 149,607 |  |  |  | - |  |  |  | - |
MUFG Bank |  | Aircraft and engines |  | Airbus A320 |  |  | 216,411 |  |  |  | 310,311 |  |  |  | - |  |  |  | - |
PK AirFinance US, Inc. |  | Aircraft and engines |  | Airbus A320 |  |  | - |  |  |  | - |  |  |  | 37,615 |  |  |  | 52,435 |
Banco BBVA |  | Land and buildings (3) |  |  |  |  | - |  |  |  | - |  |  |  | 50,785 |  |  |  | 64,500 |
Total direct guarantee |  |  |  |  |  |  | 2,755,034 |  |  |  | 3,766,032 |  |  |  | 3,298,281 |  |  |  | 4,365,250 |
| (1) | For syndicated loans, is the Guarantee Agent that, represent different creditors.
| (2) | As of December 31, 2019, three A350 aircraft are classified under Non-current assets or groups of assets for disposal as held for sale.
| (3) | Corresponds to a debt classified under item loans to exporters (see Note 19).
schedule of letters of credit related assets table text block |
|  |  |  |  |  | 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, 2020
Avolon Aerospace AOE 62 Limited |  | Latam Airlines Group S.A. |  | Three letter of credit |  |  | 2,167 |  |  | Sep 30, 2020
Bank of Utah |  | Latam Airlines Group S.A. |  | One letter of credit |  |  | 2,000 |  |  | Mar 24, 2020
GE Capital Aviation Services Ltd. |  | Latam Airlines Group S.A. |  | Three letter of credit |  |  | 14,327 |  |  | Jan 20, 2020
ORIX Aviation Systems Limited |  | Latam Airlines Group S.A. |  | Four letter of credit |  |  | 10,034 |  |  | Sep 26, 2020
Sky High XXIV Leasing Company |  | Latam Airlines Group S.A. |  | Eight letter of credit |  |  | 6,831 |  |  | Aug 05, 2020
Merlin Aviation Leasing (Ireland) 18 Limited |  | Tam Linhas Aéreas S.A. |  | One letter of credit |  |  | 3,852 |  |  | Mar 15, 2020
Shapphire Leasing (AOE) Limited |  | Tam Linhas Aéreas S.A. |  | One letter of credit |  |  | 7,500 |  |  | Oct 19, 2020
Wells Fargo Bank |  | Latam Airlines Group S.A. |  | Nine letter of credit |  |  | 15,160 |  |  | Mar 13, 2020
Banc Of America |  | Latam Airlines Group S.A. |  | Three letter of credit |  |  | 1,044 |  |  | Jul 7, 2020
Macquaire Aircraft Leasing Services |  | Latam Airlines Group S.A. |  | Five letter of credit |  |  | 2,582 |  |  | Aug 1, 2020
TC Skyward Aviation US Inc |  | Tam Linhas Aéreas S.A. |  | One letter of credit |  |  | 13,100 |  |  | Oct 6, 2020
RB Comercial Properties 49 |  |  |  |  |  |  |  |  |  |
Empreendimentos Imobiliarios LTDA |  | Tam Linhas Aéreas S.A. |  | One letter of credit |  |  | 35,974 |  |  | Apr 29, 2020
|  |  |  |  |  |  | 115,671 |  |  |
Schedule of fully depreciated assets and commitments for future purchases |
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
|  | ThUS$ |  |  | ThUS$ |
Gross book value of fully depreciated property, plant and equipment still in use |  |  | 261,792 |  |  |  | 192,606 |
Commitments for the acquisition of aircraft (*)(**) |  |  | 7,390,000 |  |  |  | 14,400,000 |
| (*) | According to the manufacturer’s price list.
| (**) | The current commitments do not consider 10 Airbus aircraft of the A350 family, included in a sales contract with Delta Air Lines, Inc.
Schedule of purchase commitment |
|  | Year of delivery |  |  |  |
Manufacturer |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2024-2026 |  |  | Total |
Airbus S.A.S. (*) |  |  | 3 |  |  |  | 10 |  |  |  | 11 |  |  |  | 9 |  |  |  | 11 |  |  |  | 44 |
A320-NEO Family |  |  | 3 |  |  |  | 10 |  |  |  | 11 |  |  |  | 9 |  |  |  | 9 |  |  |  | 42 |
A350 Family |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | 2 |
The Boeing Company |  |  | 2 |  |  |  | 2 |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 6 |
Boeing 787-9 |  |  | 2 |  |  |  | 2 |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 6 |
Total |  |  | 5 |  |  |  | 12 |  |  |  | 11 |  |  |  | 11 |  |  |  | 11 |  |  |  | 50 |
| (*) | During the third quarter of 2019 the company signed a sale contract with Delta Air Lines, Inc. for 14 Airbus A350 family aircraft, 10 were within the current aircraft purchase commitments and 4 that were already in PPE were classified as assets held for sale as of December 31, 2019.
Schedule of capitalized interest costs |
|  |  |  | For the year ended |
|  |  |  | December 31, |
|  |  |  | 2019 |  |  | 2018 |  |  | 2017 |
Average rate of capitalization of capitalized interest costs |  | % |  |  | 4.72 |  |  |  | 4.64 |  |  |  | 4,12 |
Costs of capitalized interest |  | ThUS$ |  |  | 1,444 |  |  |  | 13,007 |  |  |  | 8,210 |

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