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FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2020

FINANCIAL RISK MANAGEMENT (Tables) [Line Items]

Schedule of level of hedge

Positions as of December 31, 2020 (*)		Maturities
		Q121				Q221				Q321				Q421				Total
Percentage of coverage over the expected volume of consumption			3.0	%			2.8	%			2.6	%			2.6	%			2.7	%

Positions as of  December 31, 2019 (*)		Maturities
		Q120				Q220				Q320				Q420				Total
Percentage of coverage over the expected volume of consumption			65	%			61	%			20	%			19	%			41	%

(*) The percentage shown in the table considers all the hedging instruments (swaps and options).

(*) The volume shown in the table considers all the hedging instruments (swaps and options).

Schedule of sensitivity analysis

Appreciation (depreciation)(*)		Effect at December 31, 2020		Effect at December 31, 2019
of R$		MUS$		MUS$
-10%		-		-0.6
+10%		-		+1.1

Appreciation (depreciation)(*)		Effect at December 31, 2020		Effect at December, 2019
of R$/US$(*)		MUS$		MUS$
-10%		+10.9		+9.5
+10%		- 10.9		-9.5

Appreciation (depreciation)		Effect at December 31, 2020		Effect at December 31, 2019
of R$/US$		MUS$		MUS$
-10%		+191.53		+402.48
+10%		-156.71		-329.29

(*) Appreciation (depreciation) of US$ regard to the covered currencies.

Schedule of class of liability for the analysis of liquidity risk ordered by date of maturity

												More than				More than				More than																		Annual
Tax No.		Creditor		Creditor country		Currency		Up to 90 days				90 days to one year				one to three years				three to five years				More than five years				Total				Nominal value				Amortization		Effective rate				Nominal rate
								ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$						%				%
Loans to exporters
97.018.000-1		SCOTIABANK		Chile		US$			76,929				-				-				-				-				76,929				74,000			At Expiration			3.08				3.08
97.030.000-7		BANCO ESTADO		Chile		US$			41,543				-				-				-				-				41,543				40,000			At Expiration			3.49				3.49
76.645.030-K		ITAU		Chile		US$			20,685				-				-				-				-				20,685				20,000			At Expiration			4.20				4.20
97.951.000-4		HSBC		Chile		US$			12,545				-				-				-				-				12,545				12,000			At Expiration			4.15				4.15
Bank loans
97.023.000-9		CORP BANCA		Chile		UF			11,631				-				-				-				-				11,631				11,255			Quarterly			3.35				3.35
0-E		SANTANDER		Spain		US$			3,323				2,678				139,459				-				-				145,460				139,459			Quarterly			2.80				2.80
76.362.099-9		BTG		Chile		UF			2,104				68,920				-				-				-				71,024				67,868			At Expiration			3.10				3.10
Obligations with the public
97.030.000-7		BANCO ESTADO		Chile		UF			23,210				26,857				217,555				35,041				429,101				731,764				560,113			At Expiration			4.81				4.81
0-E		BANK OF NEW YORK		U.S.A.		US$			80,063				76,125				208,250				836,063				828,000				2,028,501				1,500,000			At Expiration			7.16				6.94
Guaranteed obligations
0-E		BNP PARIBAS		U.S.A.		US$			50,500				40,889				104,166				107,342				219,666				522,563				474,273			Quarterly / Semiannual			2.95				2.95
0-E		NATIXIS		France		US$			47,918				37,509				84,048				84,487				35,712				289,674				271,129			Quarterly			3.11				3.11
0-E		INVESTEC		England		US$			11,502				9,425				21,042				-				-				41,969				37,870			Semiannual			6.21				6.21
0-E		MUFG		U.S.A.		US$			37,114				28,497				77,881				80,678				194,901				419,071				382,413			Quarterly			2.88				2.88
0-E		SMBC		U.S.A.		US$			131,345				-				-								-				131,345				130,000			At Expiration			1.73				1.73
Other guaranteed obligation
0-E		CREDIT AGRICOLE		France		US$			1,347				275,773				-				-				-				277,120				273,199			At Expiration			1.92				1.92
0-E		MUFG		U.S.A.		US$			87,611				74,852				119,460				19,950				-				301,873				291,519			Quarterly			2.67				2.67
0-E		CITIBANK		U.S.A.		US$			3,405				10,404				603,443				-				-				617,252				600,000			At Expiration			2.27				2.27
0-E		BANK OF UTAH		U.S.A.		US$			-				-				952,990				-				-				952,990				793,003			At Expiration			22.19				13.19
Financial lease
0-E		ING		U.S.A.		US$			5,965				-				-				-				-				5,965				5,965			Quarterly			5.71				5.01
0-E		CREDIT AGRICOLE		France		US$			13,889				2,057				2,062				-				-				18,008				17,961			Quarterly			1.99				1.54
0-E		CITIBANK		U.S.A.		US$			79,117				61,983				118,372				46,115				19,118				324,705				312,792			Quarterly			2.58				1.77
0-E		PEFCO		U.S.A.		US$			1,926				-				-				-				-				1,926				1,926			Quarterly			5.65				5.03
0-E		BNP PARIBAS		U.S.A.		US$			14,851				2,343				793				-				-				17,987				17,951			Quarterly			1.81				1.41
0-E		WELLS FARGO		U.S.A.		US$			114,952				104,946				237,945				99,232				-				557,075				541,406			Quarterly			2.43				1.74
97.036.000-K		SANTANDER		Chile		US$			21,551				17,851				26,308				-				-				65,710				65,247			Quarterly			1.30				0.76
0-E		RRPF ENGINE LEASING		England		US$			4,093				3,382				8,826				4,870				-				21,171				18,489			Monthly			4.01				4.01
0-E		APPLE BANK		U.S.A.		US$			4,589				4,763				12,977				755				-				23,084				22,730			Quarterly			1.61				1.01
0-E		BTMU		U.S.A.		US$			11,620				9,647				26,261				770				-				48,298				47,609			Quarterly			1.63				1.03
0-E		US BANK		U.S.A.		US$			60,527				54,611				144,670				86,076				-				345,884				327,419			Quarterly			4.00				2.82
0-E		PK AIRFINANCE		U.S.A.		US$			4,624				12,202				3,153				-								19,979				19,522			Monthly			1.98				1.98
		TOTAL							980,479				925,714				3,109,661				1,401,379				1,726,498				8,143,731				7,077,118

												More than				More than				More than
								Up to				90 days				one to				three to				More than														Annual
				Creditor					90				to one				three				five				five								Nominal						Effective				Nominal
Tax No.		Creditor		country		Currency			days				year				years				years				years				Total				value			Amortization			rate				rate
									ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$						%				%
Bank loans
0-E		NCM		Netherlands		US$			452				497				61				-				-				1,010				943			Monthly			6.01				6.01
0-E		BANCO BRADESCO		Brazil		BRL			91,672				-				-				-				-				91,672				80,175			Monthly			4.34				4.33
0-E		BANCO DO BRASIL		Brazil		BRL			208,987				-				-				-				-				208,987				199,557			Monthly			3.95				3.95
Financial leases
0-E		NATIXIS		France		US$			31,482				9,276				42,383				-				-				83,141				81,260			Quarterly / Semiannual			4.09				4.09
0-E		WAC AP OU LEASING S.A.		Luxembourg		US$			2,460				2,442				25				-				-				4,927				4,759			Quarterly			2.00				2.00
0-E		SOCIÉTÉ GÉNÉRALE MILAN BRANCH		Italy		US$			134,919				-				-				-				-				134,919				144,120			Quarterly			3.07				3.01
0-E		GA TELESIS LLC		U.S.A.		US$			758				1,753				4,675				4,675				7,969				19,830				12,261			Monthly			14.72				14.72
		TOTAL							470,730				13,968				47,144				4,675				7,969				544,486				523,075

												More than				More than				More than
								Up to				90 days				one to				three to				More than																Annual
				Creditor				90				to one				three				five				five								Nominal								Effective				Nominal
Tax No.		Creditor		country		Currency		days				year				years				years				years				Total				value				Amortization				rate				rate
								ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$								%				%
Lease Liability
-		AIRCRAFT		OTHERS		US$			226,510				679,529				877,438				812,821				889,072				3,485,370				3,026,573				-				-				-
-		OTHER ASSETS		OTHERS		US$			3,403				9,953				6,706				18,271				6,349				44,682				46,520				-				-				-
						UF			2,103				5,836				1,072				1,973				2,485				13,469				11,401				-				-				-
						COP			22				7				14				-				-				43				48				-				-				-
						EUR			156				443				188				-				-				787				772				-				-				-
						PEN			29				15				49				-				-				93				137				-				-				-
						BRL			1,002				3,891				14,414				-				-				19,307				35,555				-				-				-
Trade and other accounts payables
-		OTHERS		OTHERS		US$			330,172				47,781				-				-								377,953				377,953				-				-				-
						CLP			230,997				119,337				-				-								350,334				350,334				-				-				-
						BRL			359,350				5,859				-				-								365,209				365,209				-				-				-
						Other currency			598,619				65,684				-				-								664,303				664,303				-				-				-
Accounts payable to related parties currents
Foreign		Delta Airlines		U.S.A		US$			805				-				-				-								805				805				-				-				-
Foreign		Patagonia Seafarms INC		U.S.A		CLP			7				-				-				-								7				7
97.810.370-9		Inversiones Costa Verde Ltda. y CPA.		Chile		CLP			-				-				105,713				-								105,713				105,713
Foreign		QA Investments Ltd		Jersey Channel Islands		US$			-				-				132,141				-								132,141				132,141				-				-				-
Foreign		QA Investments 2 Ltd		Jersey Channel Islands		US$			-				-				132,141				-								132,141				132,141
Foreign		Lozuy S.A.		Uruguay		US$			-				-				26,428				-				-				26,428				26,428				-				-				-
		Total							1,753,175				938,335				1,296,304				833,065				897,906				5,718,785				5,276,040
		Total consolidated							3,204,384				1,878,017				4,453,109				2,239,119				2,632,373				14,407,002				12,876,233

								Up to				More than 90 days				More than one to				More than three to				More than														Annual
				Creditor				90				to one				three				five				five								Nominal						Effective				Nominal
Tax No.		Creditor		country		Currency		days				year				years				years				years				Total				value				Amortization		rate				rate
								ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$						%				%
Loans to exporters
97.032.000-8		BBVA		Chile		US$			24,387				76,256				-				-				-				100,643				99,000			At Expiration			3.29				3.29
97.003.000-K		BANCO DO BRASIL		Chile		US$			151,489				50,758				-				-				-				202,247				200,000			At Expiration			2.93				2.93
76.100.458-1		HSBC		Chile		US$			12,098				-				-				-				-				12,098				12,000			At Expiration			3.25				3.25
76.100.458-1		BLADEX		Chile		US$			-				29,277				-				-				-				29,277				29,000			At Expiration			2.82				2.82
Bank loans
97.023.000-9		CORP BANCA		Chile		UF			5,336				10,544				-				-				-				15,880				15,615			Quarterly			3.35				3.35
76.362.099-9		BTG PACTUAL CHILE		Chile		UF			484				1,451				63,872				-				-				65,807				62,769			At Expiration			3.10				3.10
0-E		SANTANDER		Spain		US$			1,514				4,809				141,719				-				-				148,042				137,860			Quarterly			3.62				4.61
Obligations with the public
97.030.000-7		BANCO ESTADO		Chile		UF			-				24,702				208,681				32,228				410,774				676,385				518,032			At Expiration			4.81				4.81
0-E		BANK OF NEW YORK		U.S.A.		US$			28,000				76,125				208,250				884,188				884,000				2,080,563				1,500,000			At Expiration			7.16				6.94
Guaranteed obligations
0-E		BNP PARIBAS		U.S.A.		US$			11,657				50,428				124,106				124,167				302,092				612,450				513,941			Quarterly / Semiannual			3.81				3.81
0-E		WILMINGTON TRUST COMPANY		U.S.A.		US$			31,733				94,096				244,836				237,815				438,659				1,047,139				866,223			Quarterly			4.45				4.45
0-E		CITIBANK		U.S.A.		US$			5,765				17,296				46,120				46,117				42,175				157,473				143,475			Quarterly			3.76				2.68
0-E		NATIXIS		France		US$			13,365				40,159				99,556				86,984				79,724				319,788				282,906			Quarterly			3.82				3.82
0-E		MUFG		U.S.A.		US$			5,552				27,068				73,726				73,914				209,621				389,881				322,660			Quarterly			3.43				3.43
0-E		INVESTEC		England		US$			1,980				11,164				26,153				11,071				-				50,368				44,087			Semiannual			6.35				6.35
Other guaranteed obligation
0-E		CREDIT AGRICOLE		France		US$			2,326				6,740				260,259				-				-				269,325				253,692			At Expiration			3.74				3.74
0-E		MUFG		U.S.A.		US$			26,607				78,955				198,783				46,131				-				350,476				328,023			Quarterly			3.54				3.54
Financial lease
0-E		ING		U.S.A.		US$			4,025				8,108				-				-				-				12,133				11,806			Quarterly			5.71				5.01
0-E		CREDIT AGRICOLE		France		US$			4,994				15,026				6,671				-				-				26,691				26,091			Quarterly			3.15				2.52
0-E		CITIBANK		U.S.A.		US$			19,412				56,148				117,881				16,653				-				210,094				200,907			Quarterly			3.39				2.80
0-E		PEFCO		U.S.A.		US$			1,950				1,950				-				-				-				3,900				3,827			Quarterly			5.65				5.03
0-E		BNP PARIBAS		U.S.A.		US$			9,353				25,211				28,663				22,502				10,354				96,083				87,729			Quarterly			3.85				3.72
0-E		WELLS FARGO		U.S.A.		US$			35,251				105,691				261,181				203,232				14,382				619,737				591,684			Quarterly			2.67				1.98
97.036.000-K		SANTANDER		Chile		US$			6,145				18,394				47,911				3,158				-				75,608				72,551			Quarterly			3.00				2.46
0-E		RRPF ENGINE		England		US$			1,152				3,432				8,967				8,679				568				22,798				19,643			Monthly			4.01				4.01
0-E		APPLE BANK		U.S.A.		US$			1,661				4,977				13,259				7,380				-				27,277				25,708			Quarterly			3.33				2.73
0-E		BTMU		U.S.A.		US$			3,367				10,081				26,827				14,153				-				54,428				51,340			Quarterly			3.33				2.73
0-E		NATIXIS		France		US$			759				2,299				2,330				-				-				5,388				5,154			Quarterly			4.41				4.41
0-E		KFW IP EX-BANK		Germany		US$			1,804				3,607				-				-				-				5,411				5,328			Quarterly			3.55				3.55
0-E		AIRBUS FINANCIAL		U.S.A.		US$			2,038				5,746				-				-				-				7,784				7,664			Monthly			3.31				3.31
0-E		US BANK		U.S.A.		US$			18,328				54,864				145,364				140,555				17,681				376,792				349,127			Quarterly			4.01				2.82
0-E		PK AIRFINANCE		U.S.A.		US$			2,652				8,136				18,194				-				-				28,982				28,087			Monthly			3.45				3.45
Other loans
0-E		CITIBANK (*)		U.S.A.		US$			26,111				78,742				-				-				-				104,853				101,026			Quarterly			6.00				6.00
Hedge derivative
-		OTHERS		-		US$			-				11,582				18,641				13,530				-				43,753				16,972			-			-				-
		Total							461,295				1,013,822				2,391,950				1,972,457				2,410,030				8,249,554				6,933,927

												More than				More than				More than
								Up to				90 days				one to				three to				More than														Annual
				Creditor					90				to one				three				five				five								Nominal						Effective				Nominal
Tax No.		Creditor		country		Currency			days				year				years				years				years				Total				value			Amortization			rate				rate
									ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$						%				%
Bank loans
0-E		NCM		Netherlands		US$			173				499				722				-				-				1,394				1,289			Monthly			6.01				6.01
Financial leases
0-E		NATIXIS		France		US$			4,140				7,965				77,028				-				-				89,133				86,256			Quarterly / Semiannual			6.29				6.29
0-E		WACAP OULEASING S.A.		Luxembourg		US$			835				2,450				3,277				-				-				6,562				6,280			Quarterly			4.32				4.32
0-E		SOCIÉTÉ GÉNÉRALE MILAN BRANCH		Italy		US$			11,286				151,047				-				-				-				162,333				169,931			Quarterly			5.39				5.39
0-E		GA Teles is LLC		U.S.A.		US$			677				1,753				4,675				4,675				10,480				22,260				13,495			Monthly			14.72				14.72
		Total							17,111				163,714				85,702				4,675				10,480				281,682				277,251

												More than				More than				More than
								Up to				90 days				one to				three to				More than																Annual
				Creditor					90				to one				three				five				five								Nominal								Effective				Nominal
Tax No.		Creditor		country		Currency			days				year				years				years				years				Total				value				Amortization				rate				rate
									ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$								%				%
Lease Liability
-		AIRCRAFT		OTHERS		US$			146,036				417,929				1,002,564				877,353				1,357,910				3,801,792				3,042,231				-				-				-
-		OTHER ASSETS		OTHERS		US$			3,017				8,649				21,381				19,815				16,314				69,176				53,931				-				-				-
						CLP			160				478				531				-				-				1,169				1,195				-				-				-
						UF			2,713				4,736				5,789				1,373				2,956				17,567				17,145				-				-				-
						COP			71				161				37				2				-				271				259				-				-				-
						EUR			163				387				592				122				-				1,264				1,175				-				-				-
						GBP			16				10				-				-				-				26				24				-				-				-
						MXN			37				93				245				10				-				385				359				-				-				-
						PEN			95				129				83				16				-				323				306				-				-				-
						Other currencies			2,770				8,370				8,508				43,104				-				62,752				55,532				-				-				-
Trade and other accounts payables
-		OTHERS		OTHERS		US$			371,527				13,993				-				-				-				385,520				385,520				-				-				-
						CLP			220,383				905				-				-				-				221,288				221,288				-				-				-
						BRL			486,082				320				-				-				-				486,402				486,402				-				-				-
						Other currencies			576,378				1,716				-				-				-				578,094				578,094				-				-				-
Accounts payable to related parties currents
78.591.370-1		Bethia S.A. y Filiales		Chile		CLP			53				-				-				-				-				53				53				-				-				-
Foreign		Patagonia Seafarms INC		U.S.A.		CLP			3				-				-				-				-				3				3				-				-				-
		Total							1,809,504				457,876				1,039,730				941,795				1,377,180				5,626,085				4,843,517
		Total consolidated							2,287,910				1,635,412				3,517,382				2,918,927				3,797,690				14,157,321				12,054,695

(*) Oblligation are presented according original contractual condition and do not considered any Chapter 11 resolution. See detail on Note 19.

(*) Bonus securitized with the future flows of credit card sales in the United States and Canada, through the Guanay Finance Limited company.

Schedule of classification of financial instruments at fair value

		As of December 31, 2020																As of December 31, 2019
						Fair value measurements using values																Fair value measurements using values
						considered as																considered as
		Fair value				Level I				Level II				Level III				Fair value				Level I				Level II				Level III
		ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$				ThUS$
Assets
Cash and cash equivalents			32,782				32,782				-				-				222,094				222,094				-				-
Short-term mutual funds			32,782				32,782				-				-				222,094				222,094				-				-
Other financial assets, current			4,097				366				3,731				-				471,797				386,688				85,109				-
Fair value interest rate derivatives			-				-				-				-				27,044				-				27,044				-
Fair value of fuel derivatives			1,296				-				1,296				-				48,542				-				48,044				-
Fair value of foreign currency derivative			-				-				-				-				586				-				586				-
Accrued interest since the last payment  date Swap of currencies			-				-				-				-				3				-				3				-
Private investment funds			348				348				-				-				386,669				386,669				-				-
Certificate of Deposit (CBD)			2,435				-				2,435				-				8,934				-				8,934				-
Domestic and foreign bonds			18				18				-				-				19				19				-				-
Liabilities
Other financial liabilities, current			5,671				-				5,671				-				50,372				-				50,372				-
Fair value of interest rate derivatives			2,734				-				2,734				-				302				-				302				-
Fair value of foreign currency derivatives			-				-				-				-				48,347				-				48,347				-
Interest accrued since the last payment  date of Currency Swap			-				-				-				-				1,723				-				1,723				-
Currency derivative not registered as hedge accounting			2,937				-				2,937				-				-				-				-				-

Schedule of financial instruments which are not recorded at fair value

		As of  December 31, 2020								As of  December 31, 2019
		Book				Fair				Book				Fair
		value				value				value				value
		ThUS$				ThUS$				ThUS$				ThUS$
Cash and cash equivalents			1,663,059				1,663,059				850,486				850,486
Cash on hand			4,277				4,277				4,982				4,982
Bank balance			732,578				732,578				329,633				329,633
Overnight			802,220				802,220				350,080				350,080
Time deposits			123,984				123,894				165,791				165,791
Other financial assets, current			46,153				46,153				27,707				27,707
Other financial assets			46,153				46,153				27,707				27,707
Trade debtors, other accounts receivable and Current accounts receivable			599,180				599,180				1,244,348				1,244,348
Accounts receivable from entities  related, current			158				158				19,645				19,645
Other financial assets, not current			33,140				33,140				46,907				46,907
Accounts receivable, non-current			4,986				4,986				4,725				4,725
Other current financial liabilities			3,050,059				2,995,768				1,835,288				2,019,068
Accounts payable for trade and other accounts payable, current			2,322,961				2,322,961				2,222,874				2,222,874
Accounts payable to entities  related, current			812				812				56				56
Other financial liabilities, not current			7,803,801				6,509,081				8,530,418				8,846,418
Accounts payable, not current			651,600				651,600				619,110				619,110
Accounts payable to entities related, non-current			396,423				410,706				-				-

Fuel-Price Risk [Member]

FINANCIAL RISK MANAGEMENT (Tables) [Line Items]

Schedule of sensitivity analysis

		Positions as of  December 31, 2020		Positions as of December 31, 2019
Benchmark price		effect on Statement of Income		effect on Equity
(US$ per barrel)		(MUS$)		(MUS$)
+5		+0.6		+15.4
-5		-0.6		- 34.5

Interest rate risk [member]

FINANCIAL RISK MANAGEMENT (Tables) [Line Items]

Schedule of sensitivity analysis

Increase (decrease)		Positions as of December 31, 2020		Positions as of December 31, 2019
futures curve		effect on profit or loss before tax		effect on profit or loss before tax
in libor 3 months		(MUS$)		(MUS$)
+100 basis points		-42.11		-27.60
-100 basis points		+42.11		+27.60

Increase (decrease)		Positions as of December 31, 2020		Positions as of December 31, 2019
futures curve		effect on equity		effect on equity
in libor 3 months		(MUS$)		(MUS$)
+100  basis points		-		+13.62
-100   basis points		-		-14.71

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