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Commitments and contingencies | 12 Months Ended
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Dec. 31, 2020
Commitments and contingencies |
Commitments and contingencies | 23. Commitments and contingencies Aircraft related commitments and financing arrangements Committed expenditures for aircraft purchase and related flight equipment related to the Airbus purchase agreement, including estimated amounts for contractual prices escalations and pre-delivery payments, will be as follows:
|  |  |  |  | Commitment
|  | Commitment |  | expenditures
|  | expenditures in U.S. |  | equivalent in
|  | dollars |  | Mexican pesos(1)
2021 |  | US$ | 40,213 |  | Ps. | 802,197
2022 |  |  | 138,919 |  |  | 2,771,253
2023 |  |  | 265,836 |  |  | 5,303,083
2024 |  |  | 705,331 |  |  | 14,070,437
2025 and thereafter |  |  | 3,221,596 |  |  | 64,266,652
|  | US$ | 4,371,895 |  | Ps. | 87,213,622
| (1) |  | Using the exchange rate as of December 31, 2020 of Ps.19.9487.
All aircraft acquired by the Company through the Airbus purchase agreement through December 31, 2020 have been executed through sale and leaseback transactions. In addition, we have commitments to execute sale and leaseback over the next two years. The estimated proceeds from these commitments are as follows:
|  | Aircraft sale prices estimated
|  | in U.S. dollars |  | in Mexican pesos (1)
2021 |  | US$ | 209,500 |  | Ps. | 4,179,253
2022 |  |  | 547,328 |  |  | 10,918,482
|  | US$ | 756,828 |  | Ps. | 15,097,735
| (1) |  | Using the exchange rate as of December 31, 2020 of Ps.19.9487.
The future lease payments for these non-cancellable sale and leaseback contracts are as follows:
|  | Aircraft leases
|  | in U.S. dollars |  | in Mexican pesos (1)
2021 |  | US$ | 9,720 |  | Ps. | 193,901
2022 |  |  | 47,972 |  |  | 956,979
2023 |  |  | 63,222 |  |  | 1,261,197
2024 |  |  | 63,222 |  |  | 1,261,197
2025 and thereafter |  |  | 574,529 |  |  | 11,461,107
|  | US$ | 758,665 |  | Ps. | 15,134,381
| (1) |  | Using the exchange rate as of December 31, 2020 of Ps.19.9487.
Litigation The Company is a party to legal proceedings and claims that arise during the ordinary course of business. The Company believes the ultimate outcome of these matters will not have a material adverse effect on the Company’s financial position, results of operations, or cash flows.

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- Definition The disclosure of commitments and contingent liabilities. [Refer: Contingent liabilities [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_10_e&doctype=Standard -URIDate 2020-01-01 + Details
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