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Transactions with related parties
 12 Months Ended
Dec. 31, 2021
Disclosure Of Transactions Between Related Parties [Abstract]  
Transactions with related parties

 

30.

Transactions with related parties

According to the definitions of control established in IFRS, the Company does not have a company controlling its operations, however, according to these definitions, the following companies are considered related parties:

 

a.

Aeropuertos Mexicanos del Pacífico, S.A.P.I. de C.V.

AMP represents an entity with significant influence over the operation of the Company, since it has representation on the Board of Directors, participates in the policy-making processes, maintains material transactions, appoints officers and provides essential technical information, but without exercising control over the Company. No other Stockholder fulfills this definition.

Transactions with AMP, were entered into at prices comparable to those for transactions with independent parties and were as follows:

 

 

 

2019

 

 

2020

 

 

2021

 

AMP, entity with significant influence

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Technical assistance fees

 

Ps.

 

461,549

 

 

Ps.

 

289,154

 

 

Ps.

 

526,220

 

Services received

 

Ps.

 

5,558

 

 

Ps.

 

—

 

 

Ps.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In 1999, GAP and AMP entered into a technical assistance and transfer-of-technology agreement whereby AMP and its stockholders agreed to render administrative and advisory services and transfer industry technology and know-how to GAP in Mexico in exchange for consideration. The agreement’s original 15-year term may be automatically renewed for successive five-year terms, with the approval of the stockholders, unless one party gives a termination notice to the other at least 60 days prior to the effective termination date. Only the Stockholders’ Meeting has the authority to decide the non-renewal or deny the renewal of the agreement. If GAP decides to cancel or renew the agreement, GAP needs the approval of at least 51% of the holders of Series B shares other than AMP or any party related to AMP, according to the definition of the participation agreement signed on August 25, 1999 among the SCT, GAP in Mexico, its strategic partner and the Stockholders of the strategic partner. On August 25, 2014, the initial term was renewed for five additional years.

On August 25, 2019, the initial term of the Technical Assistance agreement between the Company and AMP expired and in the same date it was automatically renewed for an additional five years, in accordance with Clause 5.2 of the agreement.

According to the agreement, as of January 1, 2000, the Company committed to pay AMP annual consideration of USD$7,000,000 for the years 2000 and 2001 and, beginning in 2002, the greater of USD$4,000,000 (these amounts are subject to adjustment based on the CPI) or 5% of GAP’s consolidated operating income only for the Mexican airports, defined as earnings before interest income or expense, calculated prior to deducting the technical assistance fee, income taxes, depreciation and amortization.

According with the agreement the balance as of December 31, 2019, 2020 and 2021 was as follows:

 

 

 

2019

 

 

2020

 

 

2021

 

AMP, entity with significant influence:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      Accounts payable

 

Ps.

 

355,361

 

 

Ps.

 

157,003

 

 

Ps.

 

394,208

 

AMP is also entitled to the refund of expenses incurred in the rendering of services provided for in the agreement.

  

 

b.

Accounts receivable (payable) with other related parties that are in the consolidated statement of financial position as of December 31, 2019, 2020 and 2021, are integrated as follows:

 

 

 

2019

 

2020

 

2021

Accounts receivable:

 

 

 

 

 

 

 

 

 

Especialistas en Alta Cocina, S.A. de C.V. (Independent director)

 

Ps.

3,523

 

Ps.

1,698

 

Ps.

—

Mayo 13, S.A. de C.V.  (Independent director)

 

Ps.

729

 

Ps.

—

 

Ps.

—

Fly by Wings, S.A. de C.V. (Independent director)

 

Ps.

—

 

Ps.

5,955

 

Ps.

6,473

Las Nuevas Delicias Gastronómicas, S. de R.L. de C.V.

   (Independent director)

 

Ps.

—

 

Ps.

549

 

Ps.

808

 

 

 

2019

 

 

2020

 

2021

Accounts payable:

 

 

 

 

 

 

 

 

 

 

 

Ingeniería y Economía del Transporte, S.A.

   (Shareholder)

 

Ps.

 

(3,079

)

 

Ps.

—

 

Ps.

—

 

 

c.

Transactions with other related parties that are included in the consolidated statement of profit or loss and other comprehensive income as of December 31, 2019, 2020 and 2021, are as follows:

 

 

 

2019

 

2020

 

2021

Commercial revenues:

 

 

 

 

 

 

 

 

 

Especialistas en Alta Cocina, S.A. de C.V.

   (Independent Director)

 

Ps.

34,039

 

Ps.

—

 

Ps.

—

Mayo 13, S.A. de C.V. (Independent Director)

 

Ps.

5,549

 

Ps.

—

 

Ps.

—

Otayconnect, S. de R. L. de C.V. (Shareholder)

 

Ps.

1,253

 

Ps.

1,313

 

Ps.

1,387

Promotora Cabo Real, S.A. de C.V. (Shareholder)

 

Ps.

28,910

 

Ps.

14,291

 

Ps.

—

Las Nuevas Delicias Gastronómicas, S. de R. L. de C.V.

   (Independent director)

 

Ps.

4,886

 

Ps.

5,524

 

Ps.

7,669

Fly by Wings, S.A. de C.V. (Independent director)

 

Ps.

—

 

Ps.

24,093

 

Ps.

25,128

Beer Factory de México, S.A. de C.V.  (Independent director)

 

Ps.

—

 

Ps.

1,389

 

Ps.

—

Operadora y Administradora de Restaurantes Gigante, S.A. de

   C.V. (Independent director)

 

Ps.

—

 

Ps.

1,004

 

Ps.

—

Diseños Pantera, S.A. de C.V. (Shareholder)

 

Ps.

298

 

Ps.

62

 

Ps.

—

 

 

 

 

 

2019

 

2020

 

2021

Technical advisory:

 

 

 

 

 

 

 

 

 

Ingeniería y Economía del Transporte, S.A. (Shareholder)

 

Ps.

8,626

 

Ps.

—

 

Ps.

8,711

Other service:

 

 

 

 

 

 

 

 

 

Diseños Pantera, S.A. de C.V. (Shareholder)

 

Ps.

279

 

Ps.

—

 

Ps.

—

 

 

 

 

 

 

d.

The total amounts paid to key management personnel or directors, for the years ended December 31, 2019, 2020 and 2021 were as follows:

 

 

 

2019

 

 

2020

 

 

2021

 

Management

 

Ps.

 

37,226

 

 

Ps.

 

39,435

 

 

Ps.

 

59,987

 

Independent directors (7)

 

Ps.

 

8,523

 

 

Ps.

 

9,216

 

 

Ps.

 

6,511