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Financial instruments and risk management (Tables) | 12 Months Ended
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Dec. 31, 2018
Financial instruments and risk management |
Schedule of notional amounts and strike prices of derivative financial instruments |
|  | Position as of December 31, 2018
|  | Jet fuel Asian call and Zero-Cost
|  | collars option contracts maturities
|  | 1 Half 2019 |  | 2 Half 2019 |  | 2019 Total |
Jet fuel risk Asian Calls |  |  |  |  |  |  |  |  |  |
Notional volume in gallons (thousands)* |  |  | 12,790 |  |  | 13,842 |  |  | 26,632 |
Strike price agreed rate per gallon (U.S.dollars)** |  | US$ | 1.84 |  | US$ | 1.84 |  | US$ | 1.84 |
Approximate percentage of hedge (of expected consumption value) |  |  | 10 | % |  | 10 | % |  | 10 | %
Jet fuel risk Zero-Cost collars |  |  |  |  |  |  |  |  |  |
Notional volume in gallons (thousands)* |  |  | 18,963 |  |  | — |  |  | 18,963 |
Strike price agreed rate per gallon (U.S. dollars)** |  | US$ | 1.91/2.46 |  | US$ | — |  | US$ | 1.91/2.46 |
Approximate percentage of hedge (of expected consumption value) |  |  | 15 | % |  | — | % |  | 15 | %
All-in |  |  |  |  |  |  |  |  |  |
Approximate percentage of hedge (of expected consumption value) |  |  | 25 | % |  | 10 | % |  | 18 | %
* US Gulf Coast Jet 54 as underlying asset ** Weighted average
|  | Position as of December 31, 2017
|  | Jet fuel Asian call option contracts maturities
|  | 1 Half 2018 |  | 2 Half 2018 |  | 2018 Total |
Jet fuel risk |  |  |  |  |  |  |  |  |  |
Notional volume in gallons (thousands)* |  |  | 69,518 |  |  | 61,863 |  |  | 131,381 |
Strike price agreed rate per gallon (U.S.dollars)** |  | US$ | 1.6861 |  | US$ | 1.8106 |  | US$ | 1.7447 |
Approximate percentage of hedge (of expected consumption value) |  |  | 60 | % |  | 50 | % |  | 55 | %
* US Gulf Coast Jet 54 as underlying asset ** Weighted average
|  |  | Position as of December 31, 2016 |
|  | Jet fuel Asian call option contracts maturities |
Jet fuel risk |  | 1 Half 2017 |  | 2 Half 2017 |  | 2017 Total |  | 1 Half 2018 |  | 3Q 2018 |  | 2018 Total |
Notional volume in gallons (thousands)* |  |  | 55,436 |  |  | 63,362 |  |  | 118,798 |  |  | 62,492 |  |  | 7,746 |  |  | 70,238 |
Strike price agreed rate per gallon (U.S. dollars)** |  | US$ | 1.6245 |  | US$ | 1.4182 |  | US$ | 1.5145 |  | US$ | 1.6508 |  | US$ | 1.5450 |  | US$ | 1.6392 |
Approximate percentage of hedge (of expected consumption value) |  |  | 51 | % |  | 53 | % |  | 52 | % |  | 45 | % |  | 10 | % |  | 24 | %
* US Gulf Coast Jet 54 as underlying asset ** Weighted average
Schedule of foreign exchange on and off-balance sheet exposure |
|  | Thousands of U.S. dollars
|  | 2018 |  | 2017 |  | 2016
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | US$ | 279,829 |  | US$ | 344,038 |  | US$ | 297,565
Other accounts receivable |  |  | 10,957 |  |  | 13,105 |  |  | 11,619
Aircraft maintenance deposits paid to lessors |  |  | 329,983 |  |  | 352,142 |  |  | 343,787
Deposits for rental of flight equipment |  |  | 32,166 |  |  | 25,343 |  |  | 30,025
Derivative financial instruments |  |  | 3,172 |  |  | 25,204 |  |  | 41,996
Total assets |  |  | 656,107 |  |  | 759,832 |  |  | 724,992
Liabilities: |  |  |  |  |  |  |  |  |
Financial debt (Note 5) |  |  | 155,455 |  |  | 128,296 |  |  | 76,789
Foreign suppliers |  |  | 51,012 |  |  | 53,729 |  |  | 56,109
Taxes and fees payable |  |  | 14,823 |  |  | 10,304 |  |  | 6,874
Derivative financial instruments |  |  | 6,246 |  |  | — |  |  | 684
Total liabilities |  |  | 227,536 |  |  | 192,329 |  |  | 140,456
Net foreign currency position |  | US$ | 428,571 |  | US$ | 567,503 |  | US$ | 584,536
|  | Thousands of U.S. dollars
|  | 2018 |  | 2017 |  | 2016
Off-balance sheet transactions exposure: |  |  |  |  |  |  |  |  |
Aircraft and engine operating lease payments (Note 14) |  | US$ | 2,334,767 |  | US$ | 1,840,316 |  | US$ | 1,727,644
Aircraft and engine commitments (Note 23) |  |  | 1,070,187 |  |  | 1,123,377 |  |  | 315,326
Total |  | US$ | 3,404,954 |  | US$ | 2,963,693 |  | US$ | 2,042,970
Schedule of contractual principal payments required on financial liabilities and derivative instruments fair value |
|  | December 31, 2018
|  | Within one |  | One to five |  |
|  | year |  | years |  | Total
Interest-bearing borrowings: |  |  |  |  |  |  |  |  |
Pre-delivery payments facilities (Note 5) |  | Ps. | 734,635 |  | Ps. | 2,310,939 |  | Ps. | 3,045,574
Short-term working capital facilities (Note 5) |  |  | 461,260 |  |  | — |  |  | 461,260
Derivative financial instruments: |  |  |  |  |  |  |  |  |
Jet fuel Asian Zero-Cost collars options contracts |  |  | 122,948 |  |  | — |  |  | 122,948
Total |  | Ps. | 1,318,843 |  | Ps. | 2,310,939 |  | Ps. | 3,629,782
|  | December 31, 2017
|  | Within one |  | One to five |  |
|  | year |  | years |  | Total
Interest-bearing borrowings: |  |  |  |  |  |  |  |  |
Pre-delivery payments facilities (Note 5) |  | Ps. | 1,449,236 |  | Ps. | 1,079,152 |  | Ps. | 2,528,388
Short-term working capital facilities (Note 5) |  |  | 948,354 |  |  | — |  |  | 948,354
Total |  | Ps. | 2,397,590 |  | Ps. | 1,079,152 |  | Ps. | 3,476,742
|  |  | December 31, 2016
|  | Within one |  | One to five |  |  |
|  | year |  | years |  | Total
Interest-bearing borrowings: |  |  |  |  |  |  |  |  |
Pre-delivery payments facilities (Note 5) |  | Ps. | 328,845 |  | Ps. | 943,046 |  | Ps. | 1,271,891
Short-term working capital facilities (Note 5) |  |  | 716,290 |  |  | — |  |  | 716,290
Derivative financial instruments: |  |  |  |  |  |  |  |  |
Interest rate swaps contracts |  |  | 14,144 |  |  | — |  |  | 14,144
Total |  | Ps. | 1,059,279 |  | Ps. | 943,046 |  | Ps. | 2,002,325
Schedule of sensitivity of US Gulf Coast Jet Fuel 54 Zero Cost Collars to a reasonably possible change in fuel prices, with all other variables held constant, on the caption of accumulated other comprehensive income | :
|  | Sensitivity of position
|  | as of December 31, 2018
|  | effect on equity
|  | (thousands of U.S. dollars)
US Gulf Coast Jet Fuel 54 spot level |  |
+5% |  | 1.67
-5% |  | (1.51)

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