XML 54 R40.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Fair value measurements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Fair value measurements |
Schedule of carrying amounts and fair values of financial instruments |
|  | Carrying amount |  | Fair value |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Assets |  |  |  |  |  |  |  |  |
Derivative financial instruments |  | Ps. | 497,403 |  | Ps. | 867,809 |  | Ps. | 497,403 |  | Ps. | 867,809 |
Liabilities |  |  |  |  |  |  |  |  |
Financial debt |  | (3,476,742 | ) | (1,988,181 | ) | (3,481,741 | ) | (1,988,445 | )
Derivative financial instruments |  | — |  | (14,144 | ) | — |  | (14,144 | )
Total |  | Ps. | (2,979,339 | ) | Ps. | (1,134,516 | ) | Ps. | (2,984,338 | ) | Ps. | (1,134,780 | )
The following table summarizes the fair value measurements at December 31, 2017:
|  | Fair value measurement |
|  | Quoted prices in active markets Level 1 |  | Significant observable inputs Level 2 |  | Significant unobservable inputs Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |
Derivatives financial instruments: |  |  |  |  |  |  |  |  |
Jet fuel Asian call options contracts* |  | Ps. | — |  | Ps. | 497,403 |  | Ps. | — |  | Ps. | 497,403 |
Liabilities for which fair values are disclosed: |  |  |  |  |  |  |  |  |
Interest-bearing loans and borrowings** |  | — |  | (3,481,741 | ) | — |  | (3,481,741 | )
Net |  | Ps. | — |  | Ps. | (2,984,338 | ) | Ps. | — |  | Ps. | (2,984,338 | )
* Jet fuel forwards levels and LIBOR curve. ** LIBOR curve and TIIE Mexican interbank rate. Includes short-term and long-term debt. There were no transfers between level 1 and level 2 during the period. The following table summarizes the fair value measurements at December 31, 2016:
|  | Fair value measurement |
|  | Quoted prices in active markets Level 1 |  | Significant observable inputs Level 2 |  | Significant unobservable inputs Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |
Derivatives financial instruments: |  |  |  |  |  |  |  |  |
Jet fuel Asian call options contracts* |  | Ps. | — |  | Ps. | 867,809 |  | Ps. | — |  | Ps. | 867,809 |
Liabilities |  |  |  |  |  |  |  |  |
Derivatives financial instruments: |  |  |  |  |  |  |  |  |
Interest rate swap contracts** |  | — |  | (14,144 | ) | — |  | (14,144 | )
Liabilities for which fair values are disclosed: |  |  |  |  |  |  |  |  |
Interest-bearing loans and borrowings** |  | — |  | (1,988,445 | ) | — |  | (1,988,445 | )
Net |  | Ps. | — |  | Ps. | (1,134,780 | ) | Ps. | — |  | Ps. | (1,134,780 | )
* Jet fuel forwards levels and LIBOR curve. ** LIBOR curve and TIIE Mexican interbank rate. Includes short-term and long-term debt. There were no transfers between level 1 and level 2 during the period.
Schedule of (loss) gain on derivatives recognized in consolidated statements of operations and comprehensive income | Consolidated statements of operations
Instrument |  | Financial statements line |  | 2017 |  | 2016 |  | 2015 |
Jet fuel swap contracts |  | Fuel |  | Ps. | — |  | Ps. | — |  | Ps. | (128,330 | )
Jet fuel Asian call options contracts |  | Fuel |  | (26,980 | ) | (305,166 | ) | (112,675 | )
Foreign currency forward |  | Aircraft and engine rent expenses |  | (11,290 | ) | — |  | — |
Interest rate swap contracts |  | Aircraft and engine rent expenses |  | (13,827 | ) | (48,777 | ) | (46,545 | )
Total |  |  |  | Ps. | (52,097 | ) | Ps. | (353,943 | ) | Ps. | (287,550 | )
Consolidated statements of other comprehensive (loss) income
Instrument |  | Financial statements line |  | 2017 |  | 2016 |  | 2015 |
Jet fuel Asian call options Contracts |  | OCI |  | Ps. | (54,202 | ) | Ps. | 583,065 |  | Ps. | (221,592 | )
Interest rate swap contracts |  | OCI |  | 14,144 |  | 41,629 |  | 27,723 |
Foreign currency forward |  | OCI |  | (2,090 | ) | — |  | — |
Total (Note 22) |  |  |  | Ps. | (42,148 | ) | Ps. | 624,694 |  | Ps. | (193,869 | )

X
- Definition The disclosure of the fair value of financial instruments. [Refer: Financial instruments, class [member]; At fair value [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2017-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_10_e&doctype=Standard -URIDate 2017-03-09 + Details
Name: | ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Gain (Loss) From Financial Instruments + References No definition available. + Details
Name: | vlrs_DisclosureOfGainLossFromFinancialInstrumentsTextBlock
Namespace Prefix: | vlrs_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition n/a + References No definition available. + Details
Name: | vlrs_FairValueMeasurementsAbstract
Namespace Prefix: | vlrs_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration