XML 117 R39.htm IDEA: XBRL DOCUMENT
v3.20.1

Financial instruments and risk management (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Financial instruments and risk management |
Schedule of notional amounts and strike prices of derivative financial instruments |
|  | Position as of December 31, 2019 |
|  | Jet fuel Zero-Cost Collar |
|  | collars option contracts maturities |
|  | 1 Half 2020 |  | 2 Half 2020 |  | 2020 Total |
Jet fuel risk Zero-Cost collars |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional volume in gallons (thousands)* |  |  |  |  | 34,480 |  |  |  |  | 22,164 |  |  |  |  | 56,644 |
Strike price agreed rate per gallon (U.S. dollars)** |  | US$ | 1.63 | / | 1.82 |  | US$ | 1.65 | / | 1.81 |  | US$ | 1.64 | / | 1.82 |
Approximate percentage of hedge (of expected consumption value) |  |  |  |  | 25 | % |  |  |  | 15 | % |  |  |  | 20 | %
All-in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Approximate percentage of hedge (of expected consumption value) |  |  |  |  | 25 | % |  |  |  | 15 | % |  |  |  | 20 | %
* US Gulf Coast Jet 54 as underlying asset ** Weighted average
|  | 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 |  |  |  |  | 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 |
Jet fuel risk Asian Calls |  | 1 Half 2018 |  | 2 Half 2018 |  | 2018 Total |
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
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, 2019
|  | effect on equity
|  | (U.S. dollars)
US Gulf Coast Jet Fuel 54 spot level |  |
+5% |  | +4.52M
-5% |  | -4.52M
Please note this sensitivity was calculated with the net position delta of the portfolio, as change on the underlying price is small enough to be a good proxy
Schedule of foreign exchange exposure |
|  | Thousands of U.S. dollars
|  | 2019 |  | 2018 |  | 2017
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | US$ | 373,099 |  | US$ | 279,829 |  | US$ | 344,038
Other accounts receivable, net |  |  | 23,620 |  |  | 10,957 |  |  | 13,105
Guarantee deposits |  |  | 437,499 |  |  | 362,149 |  |  | 377,485
Derivative financial instruments |  |  | 7,088 |  |  | 3,172 |  |  | 25,204
Total assets |  | US$ | 841,306 |  | US$ | 656,107 |  | US$ | 759,832
Liabilities: |  |  |  |  |  |  |  |  |
Financial debt (Note 5) |  | US$ | 176,927 |  | US$ | 155,455 |  | US$ | 128,296
Lease liabilities |  |  | 2,263,849 |  |  | 2,099,218 |  |  | 1,727,890
Suppliers |  |  | 76,471 |  |  | 51,012 |  |  | 53,729
Other taxes and fees payable |  |  | 22,486 |  |  | 14,823 |  |  | 10,304
Derivative financial instruments |  |  | — |  |  | 6,246 |  |  | —
Total liabilities |  |  | 2,539,733 |  |  | 2,326,754 |  |  | 1,920,219
Net foreign currency position |  | US$ | (1,698,427) |  | US$ | (1,670,647) |  | US$ | (1,160,387)
Schedule of contractual principal payments required on financial liabilities and derivative instruments fair value |
|  | December 31, 2019
|  | Within one |  | One to five |  |
|  | year |  | years |  | Total
Interest-bearing borrowings: |  |  |  |  |  |  |  |  |
Pre-delivery payments facilities (Note 5) |  | Ps. | 1,855,956 |  | Ps. | 1,452,553 |  | Ps. | 3,308,509
Short-term working capital facilities (Note 5) |  |  | 200,000 |  |  | — |  |  | 200,000
Asset backed trust note (Note 5) |  |  | — |  |  | 1,500,000 |  |  | 1,500,000
Lease liabilities: |  |  |  |  |  |  |  |  |
Aircraft, engines, land and buildings leases |  |  | 4,720,505 |  |  | 35,796,540 |  |  | 40,517,045
Aircraft and engine lease return obligation |  |  | 383,093 |  |  | 1,469,595 |  |  | 1,852,688
Total |  | Ps. | 7,159,554 |  | Ps. | 40,218,688 |  | Ps. | 47,378,242
|  | 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
Lease liabilities: |  |  |  |  |  |  |  |  |
Aircraft, engines, land and buildings leases |  |  | 4,976,454 |  |  | 34,588,692 |  |  | 39,565,146
Aircraft and engine lease return obligation |  |  | 10,851 |  |  | 1,820,194 |  |  | 1,831,045
Total |  | Ps. | 6,306,148 |  | Ps. | 38,719,825 |  | Ps. | 45,025,973
|  |  | 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
Lease liabilities: |  |  |  |  |  |  |  |  |
Aircraft, engines, land and buildings leases |  |  | 4,213,417 |  |  | 28,310,287 |  |  | 32,523,704
Aircraft and engine lease return obligation |  |  | 193,187 |  |  | 1,454,790 |  |  | 1,647,977
Total |  | Ps. | 6,804,194 |  | Ps. | 30,844,229 |  | Ps. | 37,648,423

X
- Definition The disclosure of detailed information about hedging instruments. [Refer: Hedging instruments [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2019-01-01 -Paragraph 24A -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_24A&doctype=Standard -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of the sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date. [Refer: Market risk [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2019-01-01 -Paragraph 40 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2019-en-r&anchor=para_40_a&doctype=Standard -URIDate 2019-03-27 + Details
Name: | ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition n/a + References No definition available. + Details
Name: | vlrs_DisclosureOfFinancialRiskManagementAbstract
Namespace Prefix: | vlrs_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of foreign exchange exposure. + References No definition available. + Details
Name: | vlrs_DisclosureOfForeignExchangeExposureTableTextBlock
Namespace Prefix: | vlrs_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity analysis for financial liabilities. + References No definition available. + Details
Name: | vlrs_DisclosureOfMaturityAnalysisForFinancialLiabilitiesTableTextBlock
Namespace Prefix: | vlrs_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration