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Financial assets and liabilities (Tables)
 12 Months Ended
Dec. 31, 2019
Financial assets and liabilities  
Schedule of financial assets

 

 

 

 

 

 

 

 

 

 

 

 

    

2019

    

2018

 

2017

Derivative financial instruments designated as cash flow hedges (effective portion recognized within OCI)

 

 

  

 

 

  

 

 

 

Jet fuel Asian call options

 

Ps.

 —

 

Ps.

48,199

 

Ps.

497,403

 Jet fuel Zero-Cost collars

 

 

133,567

 

 

 —

 

 

 —

Foreign currency forward contracts

 

 

 —

 

 

14,241

 

 

 —

 Interest rate cap

 

 

2,695

 

 

 —

 

 

 —

Total financial assets

 

Ps.

136,262

 

Ps.

62,440

 

Ps.

497,403

Presented on the consolidated statements of financial position as follows:

 

 

 

 

 

  

 

 

  

Current

 

Ps.

133,567

 

Ps.

62,440

 

Ps.

497,403

Non-current

 

Ps.

2,695

 

Ps.

 —

 

Ps.

 —

 

Schedule of short-term and long-term debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

2019

    

2018

    

2017

I.

Revolving line of credit with Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander (“Santander”) and Banco Nacional de Comercio Exterior, S.N.C. (“Bancomext”), in U.S. dollars, to finance pre-delivery payments, maturing on May 31, 2022, bearing annual interest rate at the three-month LIBOR plus a spread of 260 basis points.

 

Ps.

3,308,509

 

Ps.

3,045,574

 

Ps.

2,528,388

II.

The Company issued in the Mexico market Asset backed trust notes (“CEBUR”), in Mexican pesos, maturing on June 20th, 2024 bearing annual interest rate at TIIE 28 days plus 175 basis points.

 

 

1,459,871

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

III.

In December 2016, the Company entered into a short-term working capital facility with Banco Nacional de México S.A. (“Citibanamex”) in Mexican pesos, bearing annual interest rate at TIIE 28 days plus a 90 basis points.

 

 

 —

 

 

461,260

 

 

948,354

IV.

In December 2019, the Company entered into a short-term working capital facility with Banco Sabadell S.A., Institución de Banca Multiple (“Sabadell”) in Mexican pesos, bearing annual interest rate at TIIE 28 days plus a 120 basis points.

 

 

200,000

 

 

 —

 

 

 —

V.

Amortized transaction costs

 

 

(22,472)

 

 

 —

 

 

 —

VI.

Accrued interest and other financial cost

 

 

30,061

 

 

16,364

 

 

5,972

 

  

 

 

4,975,969

 

 

3,523,198

 

 

3,482,714

Less: Short-term maturities

 

 

2,086,017

 

 

1,212,259

 

 

2,403,562

Long-term

 

Ps.

2,889,952

 

Ps.

2,310,939

 

Ps.

1,079,152

 

TIIE: Mexican interbank rate

Summary of scheduled principal payments of financial debt and accrued interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

2020

    

2021

    

2022

    

2023

    

2024

    

Total

Santander/Bancomext

 

Ps.

1,881,676

 

Ps.

1,428,534

 

Ps.

24,019

 

Ps.

 —

 

Ps.

 —

 

Ps.

3,334,229

CEBUR

 

 

4,341

 

 

250,000

 

 

500,000

 

 

500,000

 

 

209,871

(1)

 

1,464,212

 Banco Sabadell

 

 

200,000

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

200,000

Total

 

Ps.

2,086,017

 

Ps.

1,678,534

 

Ps.

524,019

 

Ps.

500,000

 

Ps.

209,871

 

Ps.

4,998,441

 

Schedule of changes in liabilities from financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current vs non-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 current 

 

 

 

 

 

January 1, 

 

Net cash 

 

Accrued

 

Foreign exchange 

 

 reclassification 

 

December 31, 

 

    

2019

    

Flows

    

Interest

    

 movement

    

 and other

    

2019

Current interest-bearing loans and borrowings

 

Ps.

1,212,259

 

Ps.

(633,609)

 

Ps.

13,698

 

Ps.

(41,173)

 

Ps.

1,534,842

 

Ps.

2,086,017

Non-current interest -bearing loans and borrowings

 

 

2,310,939

 

 

2,273,143

 

 

 —

 

 

(122,466)

 

 

(1,571,664)

 

 

2,889,952

Total liabilities from financing activities

 

Ps.

3,523,198

 

Ps.

1,639,534

 

Ps.

13,698

 

Ps.

(163,639)

 

Ps.

(36,822)

 

Ps.

4,975,969

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current vs non-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 current 

 

 

 

 

 

January 1,  

 

Net cash

 

Accrued

 

Foreign exchange 

 

 reclassification

 

December 31, 

 

    

2018

    

Flows

 

Interest

    

 movement

    

 and  other

    

2018

Current interest-bearing loans and borrowings

 

Ps.

2,403,562

 

Ps.

(793,363)

 

Ps.

10,392

 

Ps.

71,380

 

Ps.

(479,712)

 

Ps.

1,212,259

Non-current interest -bearing loans and borrowings

 

 

1,079,152

 

 

808,620

 

 

 —

 

 

(56,945)

 

 

480,112

 

 

2,310,939

Total liabilities from financing activities

 

Ps.

3,482,714

 

Ps.

15,257

 

Ps.

10,392

 

Ps.

14,435

 

Ps.

400

 

Ps.

3,523,198

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

Current vs non-

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

current 

 

 

 

 

 

January 1,

 

Net cash

 

Accrued

 

Foreign exchange 

 

reclassification 

 

December 31, 

 

 

2017

 

Flows

 

Interest

 

movement

 

and other

 

2017

Current interest-bearing loans and borrowings

 

Ps.

1,051,237

 

Ps.

419,350

 

Ps.

(130)

 

Ps.

25,924

 

Ps.

907,181

 

Ps.

2,403,562

Non-current interest - bearing loans and borrowings

 

 

943,046

 

 

1,093,808

 

 

 —

 

 

(50,521)

 

 

(907,181)

 

 

1,079,152

Total liabilities from financing activities

 

Ps.

1,994,283

 

Ps.

1,513,158

 

Ps.

(130)

 

Ps.

(24,597)

 

Ps.

 —

 

Ps.

3,482,714

 

Schedule of other financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

    

2019

    

2018

    

2017

Derivative financial instruments designated as CFH (effective portion recognized within OCI):

 

 

  

 

 

  

 

 

  

Zero-Cost Collar options

 

Ps.

 —

 

Ps.

122,948

 

Ps.

 —

Total financial liabilities

 

Ps.

 —

 

Ps.

122,948

 

Ps.

 —

Presented on the consolidated statements of financial position as follows:

 

 

 

 

 

  

 

 

  

Current

 

Ps.

 —

 

Ps.

122,948

 

Ps.

 —

Non-current

 

Ps.

 —

 

Ps.

 —

 

Ps.

 —