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Fair value measurements (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair value measurements |
Schedule of carrying amounts and fair values of financial instruments |
|  | Carrying amount |  | Fair value |  |  |
|  | 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  | Ps. | 62,440 |  | Ps. | 497,403 |  | Ps. | 867,809 |  | Ps. | 62,440 |  | Ps. | 497,403 |  | Ps. | 867,809
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial debt |  |  | (3,506,834) |  |  | (3,476,742) |  |  | (1,988,181) |  |  | (3,515,550) |  |  | (3,481,741) |  |  | (1,988,445)
Derivative financial instruments |  |  | (122,948) |  |  | — |  |  | (14,144) |  |  | (122,948) |  |  | — |  |  | (14,144)
Total |  | Ps. | (3,567,342) |  | Ps. | (2,979,339) |  | Ps. | (1,134,516) |  | Ps. | (3,576,058) |  | Ps. | (2,984,338) |  | Ps. | (1,134,780)
The following table summarizes the fair value measurements at December 31, 2018:
|  | Fair value measurement
|  | Quoted prices |  | Significant |  | Significant |  |
|  | in active |  | observable |  | unobservable |  |
|  | markets |  | inputs |  | inputs |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivatives financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Jet fuel Asian call options contracts* |  | Ps. | — |  | Ps. | 48,199 |  | Ps. | — |  | Ps. | 48,199
Foreign currency forward |  |  | — |  |  | 14,241 |  |  | — |  |  | 14,241
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivatives financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Jet fuel Asian Zero-Cost collars options contracts* |  |  | — |  |  | (122,948) |  |  | — |  |  | (122,948)
Liabilities for which fair values are disclosed: |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing loans and borrowings** |  |  | — |  |  | (3,515,550) |  |  | — |  |  | (3,515,550)
Net |  | Ps. | — |  | Ps. | (3,576,058) |  | Ps. | — |  | Ps. | (3,576,058)
* 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, 2017:
|  | Fair value measurement
|  | Quoted prices |  | Significant |  | Significant |  |
|  | in active |  | observable |  | unobservable |  |
|  | markets |  | inputs |  | inputs |  |
|  | Level 1 |  | Level 2 |  | 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 |  | Significant |  | Significant |  |  |
|  | in active |  | observable |  | unobservable |  |  |
|  | markets |  | inputs |  | inputs |  |  |
|  | Level 1 |  | Level 2 |  | 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 |
Instrument |  | Financial statements line |  | 2018 |  | 2017 |  | 2016
Jet fuel Asian call options contracts |  | Fuel |  | Ps. | (402,493) |  | Ps. | 26,980 |  | Ps. | 305,166
Foreign currency forward |  | Aircraft and engine rent expenses |  |  | (52,516) |  |  | 11,290 |  |  | —
Interest rate swap contracts |  | Aircraft and engine rent expenses |  |  | — |  |  | 13,827 |  |  | 48,777
Total |  |  |  | Ps. | (455,009) |  | Ps. | 52,097 |  | Ps. | 353,943
The following table summarizes the net (loss) gain on CFH before taxes recognized in the consolidated statements of comprehensive income for the years ended December 31, 2018, 2017 and 2016: Consolidated statements of other comprehensive (loss) income
|  | Financial |  |  |  |  |  |  |  |  |
Instrument |  | statements line |  | 2018 |  | 2017 |  | 2016
Jet fuel Asian call options Contracts |  | OCI |  | Ps. | (174,984) |  | Ps. | (54,202) |  | Ps. | 583,065
Jet fuel Zero cost collars |  | OCI |  |  | (122,948) |  |  | — |  |  | —
Interest rate swap contracts |  | OCI |  |  | — |  |  | 14,144 |  |  | 41,629
Foreign currency forward |  | OCI |  |  | 14,241 |  |  | (2,090) |  |  | —
Total (Note 22) |  |  |  | Ps. | (283,691) |  | Ps. | (42,148) |  | Ps. | 624,694

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