XML 82 R14.htm IDEA: XBRL DOCUMENT
v3.22.1

TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON- CURRENT ACCOUNTS RECEIVABLE | 12 Months Ended
--- | ---
Dec. 31, 2021
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON- CURRENT ACCOUNTS RECEIVABLE [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, |
|  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |
Trade accounts receivable |  |  | 785,952 |  |  |  | 532,106 |
Other accounts receivable |  |  | 209,925 |  |  |  | 194,454 |
Total trade and other accounts receivable |  |  | 995,877 |  |  |  | 726,560 |
Less: Expected credit loss |  |  | (81,004 | ) |  |  | (122,193 | )
Total net trade and accounts receivable |  |  | 914,873 |  |  |  | 604,367 |
Less: non-current portion – accounts receivable |  |  | (12,201 | ) |  |  | (4,986 | )
Trade and other accounts receivable, current |  |  | 902,672 |  |  |  | 599,381 |
The fair value of trade and other accounts receivable does not differ significantly from the book value. 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.
|  | As of December 31, 2021 |  |  | As December 31, 2020 |
|  | Expected |  |  | Gross book |  |  | Impairment loss |  |  | Expected |  |  | Gross book |  |  | Impairment loss |
Portfolio maturity |  | loss rate (1) |  |  | value (2) |  |  | Provision |  |  | loss rate (1) |  |  | value (2) |  |  | Provision |
|  | % |  |  | ThUS$ |  |  | ThUS$ |  |  | % |  |  | ThUS$ |  |  | ThUS$ |
Up to date |  |  | 1 | % |  |  | 591,210 |  |  |  | (8,806 | ) |  |  | 4 | % |  |  | 302,079 |  |  |  | (11,112 | )
From 1 to 90 days |  |  | 10 | % |  |  | 116,613 |  |  |  | (11,840 | ) |  |  | 4 | % |  |  | 103,615 |  |  |  | (4,049 | )
From 91 to 180 days |  |  | 31 | % |  |  | 11,376 |  |  |  | (3,567 | ) |  |  | 66 | % |  |  | 15,989 |  |  |  | (10,501 | )
From 181 to 360 days |  |  | 72 | % |  |  | 3,863 |  |  |  | (2,766 | ) |  |  | 80 | % |  |  | 40,621 |  |  |  | (32,627 | )
more of 360 days |  |  | 86 | % |  |  | 62,890 |  |  |  | (54,025 | ) |  |  | 92 | % |  |  | 69,802 |  |  |  | (63,904 | )
Total |  |  |  |  |  |  | 785,952 |  |  |  | (81,004 | ) |  |  |  |  |  |  | 532,106 |  |  |  | (122,193 | )
(1) | Corresponds to the consolidated expected rate of accounts receivable.
(2) | The gross book value represents the maximum credit risk value of trade accounts receivables.
Currency balances composition of the Trade and other accounts receivable and non-current accounts receivable are as follow:
|  | As of |  |  | As of |
|  | December 31, |  |  | December 31, |
Currency |  | 2021 |  |  | 2020 |
|  | ThUS$ |  |  | ThUS$ |
Argentine Peso |  |  | 7,282 |  |  |  | 6,517 |
Brazilian Real |  |  | 361,745 |  |  |  | 221,952 |
Chilean Peso |  |  | 53,488 |  |  |  | 44,737 |
Colombian Peso |  |  | 5,657 |  |  |  | 1,292 |
Euro |  |  | 24,143 |  |  |  | 24,370 |
US Dollar |  |  | 441,079 |  |  |  | 292,125 |
Korean Won |  |  | 844 |  |  |  | 79 |
Mexican Peso |  |  | 2,428 |  |  |  | 4,624 |
Australian Dollar |  |  | 62 |  |  |  | 49 |
Pound Sterling |  |  | 12,728 |  |  |  | 5,647 |
Uruguayan Peso (New) |  |  | 860 |  |  |  | 792 |
Swiss Franc |  |  | 360 |  |  |  | 754 |
Japanese Yen |  |  | 106 |  |  |  | 77 |
Swedish crown |  |  | 488 |  |  |  | 129 |
Other Currencies |  |  | 3,603 |  |  |  | 1,223 |
Total |  |  | 914,873 |  |  |  | 604,367 |
The movements of the provision for impairment losses of the Trade Debtors and other accounts receivable are as follows:
|  |  | Opening |  |  |  |  |  | (Increase) |  |  | Closing |
Periods |  |  | balance |  |  | Write-offs |  |  | Decrease |  |  | balance |
|  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |  |  | ThUS$ |
From January 1 to December 31, 2019 |  |  |  | (97,991 | ) |  |  | 12,569 |  |  |  | (14,980 | ) |  |  | (100,402 | )
From January 1 to December 31, 2020 |  |  |  | (100,402 | ) |  |  | 30,754 |  |  |  | (52,545 | ) |  |  | (122,193 | )
From January 1 to December 31, 2021 |  |  |  | (122,193 | ) |  |  | 26,435 |  |  |  | 14,754 |  |  |  | (81,004 | )
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, 2021 |  |  | As of December 31, 2020 |
|  | 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 |  |  | 785,952 |  |  |  | (81,004 | ) |  |  | 704,948 |  |  |  | 532,106 |  |  |  | (122,193 | ) |  |  | 409,913 |
Other accounts receivable |  |  | 209,925 |  |  |  | - |  |  |  | 209,925 |  |  |  | 194,454 |  |  |  | - |  |  |  | 194,454 |
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.

X
- 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 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_TradeAndOtherReceivablesAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration