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Financial instruments and risk management (Tables)

12 Months Ended

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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