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TRANSACTIONS WITH RELATED PARTIES
 12 Months Ended
Dec. 31, 2021
TRANSACTIONS WITH RELATED PARTIES [Abstract]  
TRANSACTIONS WITH RELATED PARTIES

NOTE 33 - TRANSACTIONS WITH RELATED PARTIES

 

(a)Details of transactions with related parties as follows:

 

      Nature of relationship with related  Country  Nature of related parties      Transaction amount with related parties As of December 31, 
Tax No.  Related party  parties  of origin  transactions  Currency   2021   2020   2019 
                   ThUS$   ThUS$   ThUS$ 
96.810.370-9  Inversiones Costa Verde Ltda. y CPA.  Related director  Chile  Tickets sales      23   28   16 
            Loans received (*)  CLP   (35,412)  (100,013) 
-
 
            Interest accrued (*)  CLP   (34,694)  (5,700) 
-
 
78.591.370-1  Bethia S.A and subsidiaries  Related director  Chile  Services provided of cargo transport  CLP  
-
  
-
   556 
            Services received from National and International Courier  CLP  
-
  
-
   (3)
            Sales commissions  CLP  
-
  
-
   (218)
            Services received advertising  CLP  
-
  
-
   (726)
87.752.000-5  Granja Marina Tornagaleones S.A.  Common shareholder  Chile  Services provided  CLP   26   13   61 
76.335.600-0  Parque de Chile S.A.  Related director  Chile  Tickets sales  CLP  
-
  
-
   9 
96.989.370-3  Rio Dulce S.A.  Related director  Chile  Tickets sales  CLP   9   5  
-
 
Foreign  Patagonia Seafarms INC  Related director  U.S.A  Services provided of cargo transport      15   40  
-
 
Foreign  TAM Aviação Executiva e Taxi Aéreo S.A.  Common shareholder  Brazil  Services provided  BRL   12         
            Services provided of cargo transport  BRL  
-
   13   58 
            Services received  BRL  
-
  
-
   2 
Foreign  Qatar Airways  Indirect shareholder  Qatar  Services provided by aircraft lease  US$  
-
   22,215   39,528 
            Interlineal received service  US$   (6,387)  (4,736)  (2,050)
            Interlineal provided service  US$   6,283   3,141   3,739 
            Services provided of handling  US$   1,493   1,246   1,106 
            Compensation for early return of aircraft  US$  
-
   9,240  
-
 
            Services provided / received others  US$   (963)  1,160   996 
Foreign  Delta Air Lines, Inc.  Shareholder  U.S.A  Interlineal received service  US$   (11,768)  (4,160) 
-
 
            Interlineal provided service  US$   7,695   4,357  
-
 
            Compensation for cancellation of aircraft purchase  US$  
-
   62,000  
-
 
            Compensation for cancellation of aircraft purchase  US$   (59)  3,310  
-
 
            Compensation for cancellation of aircraft purchase  US$   (318)  30  
-
 
Foreign  QA Investments Ltd  Common shareholder  Jersey Channel Islands  (*)Loans received  US$   (8,853)  (125,016) 
-
 
            (*)Interest accrued  US$   (8,673)  (7,125) 
-
 
Foreign  QA Investments 2 Ltd  Common shareholder  Jersey Channel Islands  (*)Loans received  US$   (44,266)  (125,016) 
-
 
            (*)Interest accrued  US$   (43,367)  (7,125) 
-
 
Foreign  Lozuy S.A.  Common shareholder  Uruguay  (*)Loans received  US$   (44,266)  (25,003) 
-
 
            (*)Interest accrued  US$   (43,367)  (1,425) 
-
 

 

(*)Corresponding to DIP tranche C.

 

The balances of Accounts receivable and accounts payable to related parties are disclosed in Note 9.

 

Transactions between related parties have been carried out at arm’s length basis.

 

(b)Compensation of key management

 

The Company has defined for these purposes that key management personnel are the executives who define the Company’s policies and macro guidelines and who directly affect the results of the business, considering the levels of Vice-Presidents, Chief Executives and Senior Directors.

 

   For the year ended 
   December 31, 
   2021   2020   2019 
   ThUS$   ThUS$   ThUS$ 
             
Remuneration      9,981    8,395    13,701 
Management fees      1,016    257    411 
Non-monetary benefits      501    1,719    1,815 
Short-term benefits      16,639    13,624    31,124 
Long-term benefits      
-
    
-
    8,577 
Share-based payments   
-
    
-
    3,296 
Termination benefits   513    4,539    1,428 
                
Total   28,650    28,534    60,352