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Income tax (Tables)

12 Months Ended

Dec. 31, 2017

Income tax

Schedule of income tax in consolidated statements of operations

		2017			2016			2015
Current year income tax expense		Ps.	(51,313	)	Ps.	(706,244	)	Ps.	(337,997	)
Deferred income tax benefit (expense)		212,488		*	(750,938		)**	(700,351		)
Total income tax benefit (expense)		Ps.	161,175		Ps.	(1,457,182	)	Ps.	(1,038,348	)

*Includes translation effect by Ps.1,008

**Includes translation effect by Ps.1,242

Schedule of income tax in consolidated statements of OCI

		2017			2016			2015
Deferred tax related to items recognized in OCI during the year
Net gain (loss) on cash flow hedges		Ps.	12,017		Ps.	(187,408	)	Ps.	58,161
Remeasurement gain of employee benefits		533			132			352
Deferred tax charged to OCI		Ps.	12,550		Ps.	(187,276	)	Ps.	58,513

Schedule of reconciliation of corporate income tax rate to effective tax rate

		2017		2016		2015
Statutory income tax rate		30.00	%	30.00	%	30.00	%
Non-deductible expenses		(3.90	%)	0.28	%	0.66	%
Unrecorded deferred taxes on tax losses		(14.55	%)	0.09	%	—
Foreign countries difference with Mexican statutory rate		(0.32	%)	0.04	%	—
Inflation of tax losses		1.50	%	(0.01	%)	(0.02	%)
Amendment tax return effects and other tax adjustments		(0.31	%)	(0.11	%)	(0.42	%)
Inflation on furniture, intangible and equipment		4.91	%	(0.38	%)	(0.34	%)
Annual inflation adjustment		4.00	%	(0.63	%)	(0.23	%)
		21.33	%	29.28	%	29.65	%

Schedule of consolidated deferred taxes

		Consolidated statement of financial position			Consolidated statement of operations			Consolidated statement of financial position			Consolidated statement of operations
Deferred income tax assets:
Intangible		Ps.	463,211		Ps.	(18,415	)	Ps.	481,626		Ps.	(16,637	)
Provisions		351,989			8,695			343,294			56,727
Tax losses available for offsetting against future taxable income		343,082			309,758			33,324			(25,030		)
Extension lease agreement		143,135			41,411			101,724			25,405
Unearned transportation revenue		35,941			(29,814		)	65,755			7,039
Allowance for doubtful accounts		7,324			433			6,891			(2,179		)
Employee benefits		5,786			1,222			4,031			886
Employee profit sharing		2,716			(490		)	3,206			158
		1,353,184			312,800			1,039,851			46,369
Deferred income tax liabilities:
Supplemental rent		1,563,363			223,753			1,339,610			363,783
Rotable spare parts, furniture and equipment, net		476,917			108,890			368,027			103,926
Prepaid expenses and other assets		196,152			(239,586		)	435,738			280,660
Inventories		88,169			15,286			72,883			23,979
Financial instruments		49,151			—			61,168			—
Other prepayments		33,269			(7,023		)	40,292			23,717
		2,407,021			101,320			2,317,718			796,065
		Ps.	(1,053,837	)	Ps.	211,480		Ps.	(1,277,867	)	Ps.	(749,696	)

Schedule of components of deferred taxes in the consolidated statement of financial position

		2017			2016
Reflected in the consolidated statement of financial position as follows:
Deferred tax assets		Ps.	562,445		Ps.	559,083
Deferred tax liabilities		(1,616,282		)	(1,836,950		)
Deferred tax liability, net		Ps.	(1,053,837	)	Ps.	(1,277,867	)

Schedule of reconciliation of deferred tax liability, net

		2017			2016
Opening balance as of January 1,		Ps.	(1,277,867	)	Ps.	(340,895	)
Deferred income tax benefit (expense) during the current year recorded on profits		211,480			(749,696		)
Deferred income tax benefit (expense) during the current year recorded in accumulated other comprehensive income (loss)		12,550			(187,276		)
Closing balance as of December 31,		Ps.	(1,053,837	)	Ps.	(1,277,867	)

Schedule of available tax carry-forwards

An analysis of the available tax losses carry-forward of the Company at December 31, 2017 is as follows:

Year of loss		Historical Loss			Restated tax loss			Utilized			Total remaining  amount			Year of  expiration
2016		57,414			57,414			—			57,414			2019
2016		52,221			56,573			16,378			40,195			2026
2017		300,613			300,613			—			300,613			2020
2017		1,068,498			1,103,408			—			1,103,408			2027
		Ps.	1,478,746		Ps.	1,518,008		Ps.	16,378		Ps.	1,501,630

A breakdown of available tax loss carry-forward of Controladora and its subsidiaries at December 31, 2017 is as follows:

		Historical loss			Restated tax loss						Total remaining amount
								Utilized
Comercializadora		Ps.	52,221		Ps.	56,573		Ps.	16,378		Ps.	40,195
Concesionaria		1,067,836			1,102,726			—			1,102,726
Operaciones Volaris		662			682			—			682
Vuela Aviación		358,027			358,027			—			358,027
		Ps.	1,478,746		Ps.	1,518,008		Ps.	16,378		Ps.	1,501,630

Schedule of tax balances

		2017
Restated contributed capital account (Cuenta de capital de aportación or “CUCA”)		Ps.	3,737,048
CUFIN*		2,558,378

*The calculation comprises all the subsidiaries of the Company.

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The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets]

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