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Financial assets and liabilities (Tables)
 12 Months Ended
Dec. 31, 2017
Financial assets and liabilities  
Schedule of financial assets

 

 

 

2017

 

2016

 

Derivative financial instruments designated as cash flow hedges (effective portion recognized within OCI)

 

 

 

 

 

Jet fuel Asian call options

 

Ps.

497,403

 

Ps.

867,809

 

 

 

 

 

 

 

 

 

Total financial assets

 

Ps.

497,403

 

Ps.

867,809

 

 

 

 

 

 

 

 

 

Presented on the consolidated statements of financial position as follows:

 

 

 

 

 

Current

 

Ps.

497,403

 

Ps.

543,528

 

 

 

 

 

 

 

 

 

Non-current

 

Ps.

—

 

Ps.

324,281

 

 

 

 

 

 

 

 

 

 

Schedule of short-term and long-term debt

 

 

 

2017

 

2016

 

I.  Revolving line of credit with Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander (“Santander”) and Banco Nacional de Comercio Exterior, S.N.C. (“Bancomext”), in U.S. dollars, to finance pre-delivery payments, maturing on November 30, 2021, bearing annual interest rate at the three-month LIBOR plus a spread according to the contractual conditions of each disbursement in a range of 199 to 225 basis points.

 

Ps.

2,528,388

 

Ps.

1,271,891

 

 

 

 

 

 

 

II. In December 2016, the Company entered into a short-term working capital facility with Banco Nacional de México S.A. (“Citibanamex”) in Mexican pesos, bearing annual interest rate at TIIE 28 days plus a spread according to the contractual conditions of each disbursement in a range of 20 to 80 basis points.

 
948,354

 
406,330

 

 

 

 

 

 

 

III. In December 2016, the Company entered into a U.S. dollar denominated short-term working capital facility with Bank of America México S.A. Institución de Banca Múltiple (“Bank of America”) in U.S. dollars, bearing annual interest rate at the one-month LIBOR plus 160 basis points.

 

—

 
309,960

 

IV. Accrued interest

 
5,972

 
6,102

 

 

 

 

 

 

 

 

 
3,482,714

 
1,994,283

 

Less: Short-term maturities

 
2,403,562

 
1,051,237

 

 

 

 

 

 

 

Long-term

 

Ps.

1,079,152

 

Ps.

943,046

 

 

 

 

 

 

 

 

 

 

Summary of scheduled principal payments of financial debt and accrued interest

 

 

 

2018

 

2019

 

2020

 

2021

 

Total

 

Finance debt denominated in foreign currency:

 

 

 

 

 

 

 

 

 

 

 

Santander/Bancomext

 

Ps.

1,452,826

 

Ps.
670,388

 

Ps.
333,303

 

Ps.
75,461

 

Ps.

2,531,978

 

Citibanamex

 
950,736

 

—

 

—

 

—

 
950,736

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

Ps.

2,403,562

 

Ps.

670,388

 

Ps.

333,303

 

Ps.

75,461

 

Ps.

3,482,714

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of changes in liabilities from financing activities

 

 

 

January 1,
2017

 

Net cash
flows

 

Foreign exchange
movement

 

Current vs non 
current
reclassification and
other

 

December, 31,
2017

 

Current interest- bearing loans and borrowings

 

Ps.

1,051,237

 

Ps.
419,350

 

Ps.
25,924

 

Ps.
907,051

 

Ps.

2,403,562

 

Non-current interest - bearing loans and borrowings

 
943,046

 
1,093,808

 
(50,521

)
(907,181

)
1,079,152

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities from financing activities

 

Ps.

1,994,283

 

Ps.

1,513,158

 

Ps.
(24,597

)

Ps.
(130

)

Ps.

3,482,714

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 1,
2016

 

Net cash
flows

 

Foreign exchange
movement

 

Current vs non
current
reclassification and
other

 

December, 31,
2016

 

Current interest- bearing loans and borrowings

 

Ps.
1,371,202

 

Ps.
(753,897

)

Ps.
121,271

 

Ps.
312,661

 

Ps.
1,051,237

 

Non-current interest - bearing loans and borrowings

 
219,817

 
938,681

 
98,450

 
(313,902

)
943,046

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities from financing activities

 

Ps.
1,591,019

 

Ps.
184,874

 

Ps.
219,721

 

Ps.
(1,241

)

Ps.
1,994,283

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of other financial liabilities

 

 

 

2017

 

2016

 

Derivative financial instruments designated as CFH (effective portion recognized within OCI):

 

 

 

 

 

Interest rate swap contracts

 

Ps.

—

 

Ps.

14,144

 

 

 

 

 

 

 

 

 

Total financial liabilities

 

Ps.

—

 

Ps.

14,144

 

 

 

 

 

 

 

 

 

Presented on the consolidated statements of financial position as follows:

 

 

 

 

 

Current

 

Ps.

—

 

Ps.

14,144

 

 

 

 

 

 

 

 

 

Non-current

 

Ps.

—

 

Ps.

—