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v3.21.1

Financial instruments and risk management (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Financial instruments and risk management |
Schedule of notional amounts and strike prices of derivative financial instruments |
|  | Position as of December 31, 2020 |
|  | Jet fuel Asian call and Zero-Cost |
|  | collars option contracts maturities |
|  | 1 Half 2021 |  | 2 Half 2021 |  | 2021 Total |
Jet fuel risk Asian Calls |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional volume in gallons (thousands)* |  |  |  |  | 7,280 |  |  |  |  | — |  |  |  |  | 7,280 |
Strike price agreed rate per gallon (U.S.dollars) ** |  | US$ |  |  | 1.90 |  |  |  |  | — |  | US$ |  |  | 1.90 |
Approximate percentage of hedge (of expected consumption value) |  |  |  |  | 6 | % |  |  |  | — | % |  |  |  | 3 | %
Jet fuel risk Zero-Cost collars |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional volume in gallons (thousands)* |  |  |  |  | 7,556 |  |  |  |  | — |  |  |  |  | 7,556 |
Strike price agreed rate per gallon (U.S. dollars) ** |  | US$ | 1.23 | / | 1.93 |  | US$ |  |  | — |  | US$ | 1.23 | / | 1.93 |
Approximate percentage of hedge (of expected consumption value) |  |  |  |  | 6 | % |  |  |  | — | % |  |  |  | 3 | %
All-in |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Approximate percentage of hedge (of expected consumption value) |  |  |  |  | 12 | % |  |  |  | — | % |  |  |  | 6 | %
* US Gulf Coast Jet 54 as underlying asset ** Weighted average
|  | 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
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, 2020
|  | effect on equity
|  | (U.S. dollars)
US Gulf Coast Jet Fuel 54 spot level |  |
+5% |  | +0.16M
-5% |  | -0.16M
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
|  | 2020 |  | 2019
Assets: |  |  |  |  |  |
Cash and cash equivalents |  | US$ | 495,612 |  | US$ | 373,099
Other accounts receivable, net |  |  | 39,997 |  |  | 23,620
Guarantee deposits |  |  | 479,566 |  |  | 437,499
Derivative financial instruments |  |  | 10 |  |  | 7,088
Total assets |  | US$ | 1,015,185 |  | US$ | 841,306
Liabilities: |  |  |  |  |  |
Financial debt (Note 5) |  | US$ | 183,806 |  | US$ | 176,927
Lease liabilities |  |  | 2,334,153 |  |  | 2,263,849
Suppliers |  |  | 174,553 |  |  | 76,471
Other taxes and fees payable |  |  | 16,105 |  |  | 22,486
Derivative financial instruments |  |  | 484 |  |  | —
Total liabilities |  |  | 2,709,101 |  |  | 2,539,733
Net foreign currency position |  | US$ | (1,693,916) |  | US$ | (1,698,427)
|  | Thousands of U.S. dollars
|  | 2020 |  | 2019
Assets: |  |  |  |  |  |
Cash and cash equivalents |  | US$ | 495,612 |  | US$ | 373,099
Other accounts receivable, net |  |  | 39,997 |  |  | 23,620
Guarantee deposits |  |  | 479,566 |  |  | 437,499
Derivative financial instruments |  |  | 10 |  |  | 7,088
Total assets |  | US$ | 1,015,185 |  | US$ | 841,306
Liabilities: |  |  |  |  |  |
Financial debt (Note 5) |  | US$ | 183,806 |  | US$ | 176,927
Lease liabilities |  |  | 2,334,153 |  |  | 2,263,849
Suppliers |  |  | 174,553 |  |  | 76,471
Other taxes and fees payable |  |  | 16,105 |  |  | 22,486
Derivative financial instruments |  |  | 484 |  |  | —
Total liabilities |  |  | 2,709,101 |  |  | 2,539,733
Net foreign currency position |  | US$ | (1,693,916) |  | US$ | (1,698,427)
Schedule of contractual principal payments required on financial liabilities and derivative instruments fair value |
|  | December 31, 2020
|  | Within one |  | One to five |  |
|  | year |  | years |  | Total
Interest-bearing borrowings: |  |  |  |  |  |  |  |  |
Pre-delivery payments facilities (Note 5) |  | Ps. | 1,096,543 |  | Ps. | 2,554,069 |  | Ps. | 3,650,612
Short-term working capital facilities (Note 5) |  |  | 200,000 |  |  | — |  |  | 200,000
Asset backed trust note (Note 5) |  |  | 250,000 |  |  | 1,250,000 |  |  | 1,500,000
Derivative financial instruments: |  |  |  |  |  |  |  |  |
Jet fuel Asian Zero-Cost collars options contracts |  |  | 9,657 |  |  | — |  |  | 9,657
Lease liabilities: |  |  |  |  |  |  |  |  |
Aircraft, engines, land and buildings leases |  |  | 6,484,092 |  |  | 37,646,450 |  |  | 44,130,542
Aircraft and engine lease return obligation |  |  | 86,801 |  |  | 2,417,683 |  |  | 2,504,484
Total |  | Ps. | 8,127,093 |  | Ps. | 43,868,202 |  | Ps. | 51,995,295
|  | 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
Summary of impact on the equity due to changes in the fair value of forward exchange contracts |
|  | Change in |  | Effect on profit
|  | USD rate |  | before tax
2020 |  | +5 | % | Ps. | (253,763)
|  | -5 | % |  | 253,763
2019 |  | +5 | % | Ps. | (155,593)
|  | -5 | % |  | 155,593

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