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Description of the business and summary of significant accounting policies (Tables)
 12 Months Ended
Dec. 31, 2017
Description of the business and summary of significant accounting policies  
Schedule of companies included in the consolidated financial statements

 

 

 

Principal

 

 

 

% Equity interest

 

Name

 

Activities

 

Country

 

2017

 

2016

 

Concesionaria

 

Air transportation services for passengers, cargo and mail throughout Mexico and abroad

 

Mexico

 
100

%
100

%

Volaris Costa Rica

 

Air transportation services for passengers, cargo and mail in Costa Rica and abroad

 

Costa Rica

 
100

%
100

%

Vuela, S.A. (“Vuela”)*

 

Air transportation services for passengers, cargo and mail in Guatemala and abroad

 

Guatemala

 
100

%
100

%

Comercializadora Volaris, S.A. de C.V.

 

Merchandising of services

 

Mexico

 
100

%
100

%

Servicios Earhart, S.A.*

 

Recruitment and payroll

 

Guatemala

 
100

%
100

%

Servicios Corporativos Volaris, S.A. de C.V. (“Servicios Corporativos”)

 

Recruitment and payroll

 

Mexico

 
100

%
100

%

Servicios Administrativos Volaris, S.A. de C.V (“Servicios Administrativos”)

 

Recruitment and payroll

 

Mexico

 
100

%
100

%

Operaciones Volaris, S.A. de C.V (“Operaciones Volaris”)(1)

 

Recruitment and payroll

 

Mexico

 
100

%
100

%

Deutsche Bank México, S.A., Trust 1710

 

Pre-delivery payments financing (Note 5)

 

Mexico

 
100

%
100

%

Deutsche Bank México, S.A., Trust 1711

 

Pre-delivery payments financing (Note 5)

 

Mexico

 
100

%
100

%

Irrevocable Administrative Trust number F/307750 “Administrative Trust”

 

Share administration trust (Note 17)

 

Mexico

 
100

%
100

%

Irrevocable Administrative Trust number F/745291

 

Share administration trust (Note 17)

 

Mexico

 
100

%
100

%

 

*The Company has not started operations in Guatemala.

(1)

With effect from August 3, 2016, the name of the Company was changed from Servicios Operativos Terrestres Volaris, S.A. de C.V. to Operaciones Volaris, S.A. de C.V.
Schedule of non-ticket revenues

 

 

 

For the years ended December 31,

 

 

 

2017

 

2016

 

2015

 

Air travel-related services

 

Ps.
6,293,747

 

Ps.
5,055,836

 

Ps.
3,418,654

 

Non-air travel-related services

 
589,338

 
494,864

 
441,393

 

Cargo

 
170,973

 
171,621

 
189,292

 

 

 

 

 

 

 

 

 

Total non-ticket revenues

 

Ps.
7,054,058

 

Ps.
5,722,321

 

Ps.
4,049,339

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of depreciation rates

 

 

 

Annual
depreciation rate

 

Aircraft parts and rotable spare parts

 

8.3-16.7%

 

Aircraft spare engines

 

4.0-8.3%

 

Standardization

 

Remaining contractual lease term

 

Computer equipment

 

25%

 

Communications equipment

 

10%

 

Office furniture and equipment

 

10%

 

Electric power equipment

 

10%

 

Workshop machinery and equipment

 

10%

 

Service carts on board

 

20%

 

Leasehold improvements to flight equipment

 

The shorter of: (i) remaining contractual lease term, or (ii) the next major maintenance event

 

 

Schedule of exchange rates of local currencies translated to functional currencies

 

 

 

 

 

 

 

Exchange rates of local currencies
translated to functional currencies

 

Exchange rates of local currencies
translated to functional currencies

 

Country

 

Local
currency

 

Functional
currency

 

Average exchange
rate for 2017

 

Exchange rate
as of 2017

 

Average exchange
rate for 2016

 

Exchange rate
as of 2016

 

Costa Rica

 

Colon

 

U.S. dollar

 

₵.
572.2000

 

₵.
572.5600

 

₵.
564.3332

 

₵.
561.1000

 

Guatemala

 

Quetzal

 

U.S. dollar

 

Q.
7.3509

 

Q.
7.3448

 

Q.
7.4931

 

Q.
7.5221