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FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2021

FINANCIAL RISK MANAGEMENT (Tables) [Line Items]

Schedule of level of hedge

Positions as of  December 31, 2021 (*)		Maturities
		Q122				Q222				Q322				Q422				Total
Percentage of coverage over the expected volume of consumption			25	%			30	%			17	%			14	%			21	%

Positions as of  December 31, 2020 (*)		Maturities
		Q121				Q221				Q321				Q421				Total
Percentage of coverage over the expected volume of consumption			3	%			3	%			3	%			3	%			3	%

Schedule of sensitivity analysis

Appreciation (depreciation)				Effect December 31, 2021				Effect December 31, 2020
De R$/US$				(MUS$)				(MUS$)
	-10%				+51.9				-10.9
	+10%				-51.9				+10.9

Appreciation (depreciation)				Effect at December 31, 2021				Effect at December 31, 2020
of R$/US$				MUS$				MUS$
	-10%				+96.66				+191.53
	+10%				-79.09				-156.71

Schedule of amounts by Tranche are summarized

		As of December 31, 2021												As of December 31, 2020
Tranche		Committed amount				Withdrew amount				Available amount				Committed amount				Withdrew amount				Available amount
		MUS$				MUS$				MUS$				MUS$				MUS$				MUS$
Tranche A			1,300				876				424				1,300				650				650
Tranche B			750				300				450				-				-				-
Tranche C			1,150				774				376				1,150				500				650
Total			3,200				1,950				1,250				2,450				1,150				1,300

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

																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$						%		%
Loans to exporters
97.018.000-1		CITIBANK			Chile				US$				115,350				-				-				-			-				115,350			114,000			At Expiration			2.96			2.96
97.030.000-7		ITAU			Chile				US$				20,140				-				-				-			-				20,140			20,000			At Expiration			4.20			4.20
0-E		HSBC			Chile				US$				12,123				-				-				-			-				12,123			12,000			At Expiration			4.15			4.15
Bank loans
97.023.000-9		CORPBANCA			Chile				UF				10,236				-				-				-			-				10,236			10,106			Quarterly			3.35			3.35
0-E		SANTANDER			Spain				US$				751				2,604				106,939				-			-				110,294			106,427			Quarterly			2.80			2.80
0-E		CITIBANK			U.S.A.				UF				60,935				-				-				-			-				60,935			60,935			At Expiration			3.10			3.10
Obligations with the public
97.030.000-7		BANCO ESTADO			Chile				UF				36,171				179,601				31,461				31,461			369,537				648,231			502,897			At Expiration			4.81			4.81
0-E		BANK OF NEW YORK			U.S.A.				US$				184,188				104,125				884,188				856,000			-				2,028,501			1,500,000			At Expiration			7.16			6.94
Guaranteed obligations
0-E		BNP PARIBAS			U.S.A.				US$				17,182				19,425				40,087				41,862			95,475				214,031			198,475			Quarterly			1.48			1.48
0-E		MUFG			U.S.A.				US$				29,652				17,921				36,660				37,829			55,297				177,359			166,712			Quarterly			1.64			1.64
0-E		WILMINGTON TRUST COMPANY			U.S.A.				US$				933				4,990				29,851				36,337			89,263				161,374			144,358			Quarterly / Monthly			3.17			1.60
Other guaranteed obligation
0-E		CREDIT AGRICOLE			France				US$				273,199				-				-				-			-				273,199			273,199			At Expiration			1.82			1.82
0-E		MUFG			U.S.A.				US$				8,150				46,746				94,062				14,757			-				163,715			156,933			Quarterly			1.72			1.72
0-E		CITIBANK			U.S.A.				US$				613,419				-				-				-			-				613,419			600,000			At Expiration			2.00			2.00
0-E		BANK OF UTAH			U.S.A.				US$				-				1,858,051				-				-			-				1,858,051			1,644,876			At Expiration			22.71			12.97
0-E		EXIM BANK			U.S.A.				US$				271				1,173				3,375				10,546			55,957				71,322			62,890			Quarterly			1.84			1.84
Financial lease
0-E		CREDIT AGRICOLE			France				US$				699				1,387				-				-			-				2,086			2,052			Quarterly			3.68			3.23
0-E		CITIBANK			U.S.A.				US$				19,268				59,522				5,721				-			-				84,511			83,985			Quarterly			1.37			0.79
0-E		BNP PARIBAS			U.S.A.				US$				7,351				26,519				21,685				-			-				55,555			54,918			Quarterly			1.56			0.96
0-E		NATIXIS			France				US$				5,929				34,328				59,574				59,930			130,131				289,892			261,458			Quarterly			2.09			2.09
0-E		US BANK			U.S.A.				US$				18,158				72,424				133,592				6,573			-				230,747			219,667			Quarterly			4.03			2.84
0-E		PK AIRFINANCE			U.S.A.				US$				853				5,763				10,913				-			-				17,529			16,851			Quarterly			1.88			1.88
0-E		EXIM BANK			U.S.A.				US$				2,758				11,040				61,167				249,466			269,087				593,518			533,127			Quarterly			2.88			2.03
Others loans
0-E		OTHERS (**)							US$				55,819				-				-				-			-				55,819			55,819			At Expiration			-			-
		TOTAL											1,493,535				2,445,619				1,519,275				1,344,761			1,064,747				7,867,937			6,801,685

																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$				990				-				-				-				-				990				943			Monthly			6.01				6.01
0-E		MERRIL LYNCH CREDIT PRODUCTS LLC			U.S.A.				BRL				185,833				-				-				-				-				185,833				185,833			Monthly			3.95				3.95
0-E		BANCO BRADESCO			Brazil				BRL				74,661				-				-				-				-				74,661				74,661			Monthly			4.33				4.33
Financial leases
0-E		NATIXIS			France				US$				486				2,235				4,080				11,076				-				17,877				17,326			Quarterly			2.74				2.74
0-E		GA TELESIS LLC			U.S.A.				US$				762				2,706				4,675				4,646				5,077				17,866				10,999			Monthly			14.72				14.72
Others Loans
0-E		Deustche Bank (**)			Brazil				US$				20,689				-				-				-				-				20,689				20,689			At Expiration			-				-
		TOTAL											283,421				4,941				8,755				15,722				5,077				317,916				310,451

														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$			694,568				469,568				767,629				811,843				778,613				3,522,221				2,883,657				-				-				-
-		OTHER ASSETS				OTHERS		US$			9,859				11,820				22,433				23,365				8,651				76,128				73,615				-				-				-
								UF			1,759				982				245				76				231				3,293				2,621				-				-				-
								COP			2				7				35				-				-				44				42				-				-				-
								EUR			198				112				293				-				-				603				599				-				-				-
								PEN			4				7				97				-				-				108				103				-				-				-
Trade and other accounts payables
-		OTHERS				OTHERS		US$			665,645				165,085				-				-				-				830,730				830,730				-				-				-
								CLP			214,224				4,912				-				-				-				219,136				219,136				-				-				-
								BRL			365,486				5,258				-				-				-				370,744				370,744				-				-				-
								Other currency			542,304				3,719				-				-				-				546,023				546,023				-				-				-
Accounts payable to related parties currents (*)
Foreign		Inversora Aeronáutica Argentina S.A.				Argentina		US$			-				5				-				-				-				5				5				-				-				-
Foreign		Delta Airlines				U.S.A		US$			-				2,268				-				-				-				2,268				2,268				-				-				-
Foreign		Patagonia Seafarms INC				U.S.A		CLP			-				7				-				-				-				7				7				-				-				-
81.062.300-4		Costa Verde Aeronautica S.A.				Chile		CLP			-				175,819				-				-				-				175,819				175,819				-				-				-
Foreign		QA Investments Ltd				Jersey Channel Islands		US$			-				219,774				-				-				-				219,774				219,774				-				-				-
Foreign		QA Investments 2 Ltd				Jersey Channel Islands		US$			-				219,774				-				-				-				219,774				219,774				-				-				-
Foreign		Lozuy S.A.				Uruguay		US$			-				43,955				-				-				-				43,955				43,955				-				-				-
		Total									2,494,049				1,323,072				790,732				835,284				787,495				6,230,632				5,588,872
		Total consolidated									4,271,005				3,773,632				2,318,762				2,195,767				1,857,319				14,416,485				12,701,008

																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$						%				%
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		CORPBANCA			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		WACAPOU 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

Schedule of classification of financial instruments at fair value

		As of December 31, 2021																As of December 31, 2020
						Fair value measurements using values considered as																Fair value measurements using values 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			26,025				26,025				-				-				32,782				32,782				-				-
Short-term mutual funds			26,025				26,025				-				-				32,782				32,782				-				-
Other financial assets, current			26,467				1,637				24,830				-				4,097				366				3,731				-
Fair value of fuel derivatives			17,641				-				17,641				-				1,296				-				1,296				-
Private investment funds			347				347				-				-				348				348				-				-
Certificate of Deposit (CBD)			7,189				-				7,189				-				2,435				-				2,435				-
Domestic and foreign bonds			1,290				1,290				-				-				18				18				-				-
Liabilities
Other financial liabilities, current			5,671				-				5,671				-				5,671				-				5,671				-
Fair value of interest rate derivatives			2,734				-				2,734				-				2,734				-				2,734				-
Currency derivative not registered as hedge accounting			2,937				-				2,937				-				2,937				-				2,937				-

Schedule of financial instruments which are not recorded at fair value

		As of  December 31, 2021								As of  December 31, 2020
		Book				Fair				Book				Fair
		value				value				value				value
		ThUS$				ThUS$				ThUS$				ThUS$
Cash and cash equivalents			1,020,810				1,020,810				1,663,059				1,663,059
Cash on hand			2,120				2,120				4,277				4,277
Bank balance			558,078				558,078				732,578				732,578
Overnight			386,034				386,034				802,220				802,220
Time deposits			74,578				74,578				123,984				123,894
Other financial assets, current			74,671				74,671				46,153				46,153
Other financial assets			74,671				74,671				46,153				46,153
Trade debtors, other accounts receivable and Current accounts receivable			902,672				902,672				599,381				599,381
Accounts receivable from entities related, current			724				724				158				158
Other financial assets, not current			15,622				15,622				33,140				33,140
Accounts receivable, non-current			12,201				12,201				4,986				4,986
Other current financial liabilities			4,447,780				4,339,370				3,050,059				2,995,768
Accounts payable for trade and other accounts payable, current			4,860,153				4,860,153				2,322,125				2,322,125
Accounts payable to entities related, current			661,602				662,345				812				812
Other financial liabilities, not current			5,948,702				5,467,594				7,803,801				6,509,081
Accounts payable, not current			472,426				472,426				396,423				410,706

Fuel-Price Risk [Member]

FINANCIAL RISK MANAGEMENT (Tables) [Line Items]

Schedule of sensitivity analysis

				Positions as of December 31, 2021				Positions as of December 31, 2020
Benchmark price				effect on Equity				effect on Equity
(US$ per barrel)				(MUS$)				(MUS$)
	+5				+2.7				+0.6
	-5				-3.3				-0.6

Interest rate risk [member]

FINANCIAL RISK MANAGEMENT (Tables) [Line Items]

Schedule of sensitivity analysis

Increase (decrease)		Positions as of December 31, 2021				Positions as of December 31, 2020
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			-46.31				-42.11
-100 basis points			+46.31				+42.11

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