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STATEMENT OF CASH FLOWS (Tables)

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Statement Information [Abstract]

Schedule of proceeds from the issuance of shares

Proceeds from the issuance of shares as of December 31, 2022:


Detail						ThUS$
Issuance of shares						800,000
Issuance costs						(80,000)
DIP Junior offset						(170,962)
Total cash flow						549,038

Schedule of issuance of other equity instruments

Amount from the issuance of other equity instruments as of December 31, 2022:


Detail	Convertible Notes H	Convertible Notes I	Total
	ThUS$	ThUS$	ThUS$
Fair Value (see note 24)	1,372,837	4,097,788	5,470,625
Use for settlement of claim	—	(828,581)	(828,581)
Issuance costs	(24,812)	(705,467)	(730,279)
DIP Junior offset	(327,957)	(381,018)	(708,975)
Cash inflow	1,020,068	2,182,722	3,202,790

Schedule of other inflows (outflows) of cash

Other inflows (outflows) of cash:


	For the year ended At December 31,
	2023	2022	2021
	ThUS$	ThUS$	ThUS$
Restricted Advances	20,572	(26,918)	—
Bank commissions, taxes paid and other	(2,173)	(5,441)	(21,287)
Taxes on financial transactions	(6,803)	(2,134)	(2,530)
Guarantees	4,406	(47,384)	(39,728)
Payment for hedging instruments	30,413	35,857	14,269
Court deposits	(16,349)	(20,661)	(16,323)
Derivative margin guarantees	(2,559)	(40,207)	(4,900)
Payment for derivatives premiums	(47,853)	(23,372)	(17,077)




Total Other inflows (outflows) Operation activities	(20,346)	(130,260)	(87,576)

Tax paid on bank transactions	—	—	(425)
Guarantee deposit received from the sale of aircraft	48,258	6,300	18,900
Insurance recovery	11,000	—	—
Total Other inflows (outflows) Investment activities	59,258	6,300	18,475

Interest rate derivatives	15,934	—	—
Funds delivered as restricted advances	—	(313,090)	—
Payments of claims associated with the debt	—	(21,924)	—
Debt Issuance Cost - Stamp Tax	—	(33,259)	—
Taxes on financial transactions	(4,529)	—	—
Debt-related legal advice	—	(87,993)	(11,034)
RCF guarantee placement	—	(7,500)	—
Total Other inflows (outflows) Financing activities	11,405	(463,766)	(11,034)

Schedule of liabilities arising from financing activities

Reconciliation of liabilities arising from financing activities:


		Cash flows			Non cash-Flow Movements
	As of December 31, 2022	Obtainment	Payment		Interest accrued and others		Reclassifications (***)		As of December 31, 2023
		Capital (*)	Capital (**)	Interests
	ThUS$	ThUS$	ThUS$	ThUS$		ThUS$		ThUS$		ThUS$
Obligations with financial institutions

Bank loans	1,385,995	—	(81,952)	(153,791)		189,272		(310,090)		1,029,434
Guaranteed obligations	325,061	—	(19,726)	(20,309)		20,686		(1,790)		303,922
Other guaranteed obligations	474,304	—	(56,519)	(42,283)		43,037		11,811		430,350
Obligation with the public	1,289,799	—	—	(155,655)		168,694		—		1,302,838
Financial leases	1,088,239	—	(183,374)	(48,272)		58,076		(13,123)		901,546
Other loans	2,028	—	(434)	—		(70)		(1,420)		104
Lease liability	2,216,454	—	(225,358)	(173,924)		1,150,822		—		2,967,994
Total Obligations with financial institutions	6,781,880	—	(567,363)	(594,234)		1,630,517		(314,612)		6,936,188


		Cash flows				Non cash-Flow Movements
	As of December 31, 2021	Obtainment	Payment			Extinguishment of debt under Chapter 11	Interest accrued and others	Reclassifications	As of December 31, 2022
		Capital (*)	Capital (**)	Interests	Legal advices related to debt
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Obligations with financial institutions
Loans to exporters	159,161	—	—	—	—	(161,975)	2,814	—	—
Bank loans	521,838	982,425	(36,466)	(10,420)	—	(196,619)	128,077	(2,840)	1,385,995
Guaranteed obligations	510,535	—	(18,136)	(13,253)	(25)	—	13,882	(167,942)	325,061
Other guaranteed obligations	2,725,422	3,658,690	(5,408,540)	(391,639)	(91,247)	(381,018)	339,475	23,161	474,304
Obligation with the public	2,253,198	1,109,750	(1,501,739)	(17,499)	—	(843,950)	148,703	141,336	1,289,799
Financial leases	1,189,182	—	(270,734)	(34,201)	—	(37,630)	37,211	204,411	1,088,239
Other loans	76,508	1,467,035	(1,523,798)	(5,628)	3,281	(56,176)	40,806	—	2,028
Lease liability	2,960,638	—	(131,917)	(49,076)	(2)	(995,888)	492,592	(59,893)	2,216,454
Total Obligations with financial institutions	10,396,482	7,217,900	(8,891,330)	(521,716)	(87,993)	(2,673,256)	1,203,560	138,233	6,781,880


		Cash flows				Non cash-Flow Movements
	As of December 31, 2020	Obtainment	Payment			Interest accrued and others (****)	Reclassifications	As of December 31, 2021
		Capital	Capital (**)	Interests	Transaction cost
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Obligations with financial institutions
Loans to exporters	151,701	—	—		—	7,460	—	159,161
Bank loans	525,273	—	—	(546)	—	(2,889)	—	521,838
Guaranteed obligations	1,318,856	—	(14,605)	(17,405)	—	(513,276)	(263,035)	510,535
Other guaranteed obligations	1,939,116	661,609	(26,991)	(28,510)	—	135,405	44,793	2,725,422
Obligation with the public	2,183,407	—	—		—	69,791	—	2,253,198
Financial leases	1,614,501	—	(421,452)	(40,392)	—	(181,717)	218,242	1,189,182
Other loans	—	—	—		—	76,508	—	76,508
Lease liability	3,121,006	—	(103,366)	(17,768)	—	(39,234)	—	2,960,638
Total Obligations with financial institutions	10,853,860	661,609	(566,414)	(104,621)	—	(447,952)	—	10,396,482

(*) During the year 2023, the Company did not obtain financing. During the year 2022, The Company obtained ThUS$2,361,875 amounts from long-term loans and ThUS$4,856,025 (ThUS$$661,609 in 2021) amounts from short-term loans, totaling ThUS$7,217,900.

(**) As of December 31, 2023, loan repayments ThUS$342,005 and repayments of lease liabilities ThUS$225,358, disclosed in flows from financing activities, as of December 31, 2022, loan repayments ThUS$8,759,413 and liability payments for leases ThUS$131,917 disclosed in flows from financing activities and as of December 31, 2021, loan repayments ThUS$463,048 and liability payments for leases ThUS$103,366 disclosed in flows from financing activities.

(***) As a result of the exit from Chapter 11, Bank Loans decreased mainly by ThUS$297,161, related to the cancellation of the claim of TAM Linhas Aéreas S.A., which was pending resolution upon exit from the Chapter 11 process and which was compensated during 2023 with a fund delivered to an agent as restricted advances made in November 2022.

(****) As of December 31, 2021, Accrued interest and others, includes ThUS$458,642, associated with the rejection of fleet contracts.

Schedule of obtained (payments) of flows related to financing

Below are the details obtained (payments) of flows related to financing:


	For the years ended December 31
	2023			2022
	Capital raising	Payments		Capital raising	Payments
Flow of		Capital	Interest		Capital	Interest
	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$	ThUS$
Aircraft financing	—	(251,388)	(76,497)	—	(331,292)	(52,088)
Lease liability	—	(225,358)	(173,924)	—	(131,917)	(49,076)
Non-aircraft financing	—	(90,617)	(343,813)	7,217,900	(8,428,121)	(420,553)
Total obligations with Financial institutions	—	(567,363)	(594,234)	7,217,900	(8,891,330)	(521,717)

Schedule of statement of consolidated cash flow

Corresponds to the cash flows associated with aircraft purchases, which are included in the statement of consolidated cash flows, within Purchases of property, plant and equipment.


	For the year ended At December 31,
	2023	2022	2021
	ThUS$	ThUS$	ThUS$
Increases (payments)	(142,782)	(23,118)	(9,858)
Recoveries	215,362	3,037	—
Total cash flows	72,580	(20,081)	(9,858)

Schedule of property, plant and equipment and intangibles

Additions of property, plant and equipment and Intangibles


	For the year ended At December 31,
	2023	2022	2021
	ThUS$	ThUS$	ThUS$
Net cash flows from
Purchases of property, plant and equipment	795,787	780,538	597,103
Additions associated with maintenance	337,126	486,231	302,858
Other additions	458,661	294,307	294,245
Purchases of intangible assets	68,052	50,116	88,518
Other additions	68,052	50,116	88,518

Schedule of consolidated statement of cash flow

The net effect of the application of hyperinflation in the consolidated cash flow statement corresponds to:


	For the year ended At December 31,
	2023	2022
	ThUS$	ThUS$
Net cash flows from (used in) operating activities	(47,569)	(36,701)
Net cash flows from (used in) investment activities	3,661	(146)
Net cash flows from (used in) financing activities	—	7,703
Effects of variation in the exchange rate on cash and cash equivalents	43,908	29,144
Net increase (decrease) in cash and cash equivalents	—	—

Schedule of payments of loans to related entities

Payments of loans to related entities as December 31, 2022:



			ThUS$
Delta Air Lines, Inc.			(78,947)
Qatar Airways			(78,947)
Costa Verde Aeronautica S.A.			(257,533)
Lozuy S.A.			(107,122)
QA Investments Ltd			(242,967)
QA Investments 2 Ltd			(242,967)
Payments of loans to related entities			(1,008,483)