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v3.21.1

Description of the business and summary of significant accounting policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Description of the business and summary of significant accounting policies |
Schedule of companies included in the consolidated financial statements |
|  | Principal |  |  |  | % Equity interest |
Name |  | Activities |  | Country |  | 2020 |  | 2019 |
Concesionaria |  | Air transportation services for passengers, cargo and mail throughout Mexico and abroad |  | Mexico |  | 100 | % | 100 | %
Vuela Aviación, S.A. |  | Air transportation services for passengers, cargo and mail in Costa Rica and abroad |  | Costa Rica |  | 100 | % | 100 | %
Vuela, S.A. (“Vuela”) * |  | Air transportation services for passengers, cargo and mail in Guatemala and abroad |  | Guatemala |  | 100 | % | 100 | %
Vuela El Salvador, S.A. de C.V.* |  | Air transportation services for passengers, cargo and mail in El Salvador and abroad |  | El Salvador |  | 100 | % | 100 | %
Comercializadora Volaris, S.A. de C.V. |  | Merchandising of services |  | Mexico |  | 100 | % | 100 | %
Servicios Earhart, S.A.* |  | Recruitment and payroll |  | Guatemala |  | 100 | % | 100 | %
Servicios Corporativos Volaris, S.A. de C.V. (“Servicios Corporativos”) |  | Recruitment and payroll |  | Mexico |  | 100 | % | 100 | %
Servicios Administrativos Volaris, S.A. de C.V. (“Servicios Administrativos”) |  | Recruitment and payroll |  | Mexico |  | 100 | % | 100 | %
Comercializadora V Frecuenta, S.A. de C.V. (“Loyalty Program”) ** |  | Loyalty Program |  | Mexico |  | 100 | % | 100 | %
Viajes Vuela, S.A. de C.V. (“Viajes Vuela”) |  | Travel agency |  | Mexico |  | 100 | % | 100 | %
Deutsche Bank México, S.A., Trust 1710 |  | Pre-delivery payments financing (Note 5) |  | Mexico |  | 100 | % | 100 | %
Deutsche Bank México, S.A., Trust 1711 |  | Pre-delivery payments financing (Note 5) |  | Mexico |  | 100 | % | 100 | %
Irrevocable Administrative Trust number F/307750 “Administrative Trust” |  | Share administration trust (Note 17) |  | Mexico |  | 100 | % | 100 | %
Irrevocable Administrative Trust number F/745291 “Administrative Trust” |  | Share administration trust (Note 17) |  | Mexico |  | 100 | % | 100 | %
Irrevocable Administrative Trust number CIB/3081 “Administrative Trust” |  | Share administration trust (Note 17) |  | Mexico |  | 100 | % | 100 | %
Irrevocable Administrative Trust number CIB/3249 “Administrative Trust” |  | Asset backed securities trustor & administrator (Note 5) |  | Mexico |  | 100 | % | 100 | %
*The Companies have not started operations yet in Guatemala and El Salvador. **The Company has not started operations yet
Schedule of breakdown of revenues |
|  |  | At the flight time |  |  | At the sale |  | Total
Revenue recognition as of December 31, 2020 |  | Domestic |  | International |  | Domestic |  | International |  | Revenues
Passenger Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fare Revenues |  | Ps. | 8,455,647 |  | Ps. | 4,417,527 |  | Ps. | — |  | Ps. | — |  | Ps. | 12,873,174
Other Passenger Revenues |  |  | 6,920,141 |  |  | 1,536,206 |  |  | 124,450 |  |  | 32,601 |  |  | 8,613,398
|  |  | 15,375,788 |  |  | 5,953,733 |  |  | 124,450 |  |  | 32,601 |  |  | 21,486,572
Non-Passenger Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Non-Passenger revenues |  |  | 875,610 |  |  | 6,750 |  |  | — |  |  | — |  |  | 882,360
Cargo |  |  | 196,349 |  |  | 5,532 |  |  | — |  |  | — |  |  | 201,881
Total |  | Ps. | 16,447,747 |  | Ps. | 5,966,015 |  | Ps. | 124,450 |  | Ps. | 32,601 |  | Ps. | 22,570,813
Non-derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (411,222)
|  |  |  |  |  |  |  |  |  |  |  |  |  | Ps. | 22,159,591
|  |  | At the flight time |  |  | At the sale |  | Total
Revenue recognition as of December 31, 2019 |  | Domestic |  | International |  | Domestic |  | International |  | Revenues
Passenger Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fare Revenues |  | Ps. | 15,833,878 |  | Ps. | 7,296,113 |  | Ps. | — |  | Ps. | — |  | Ps. | 23,129,991
Other Passenger Revenues |  |  | 7,531,725 |  |  | 2,865,555 |  |  | 119,466 |  |  | 52,462 |  |  | 10,569,208
|  |  | 23,365,603 |  |  | 10,161,668 |  |  | 119,466 |  |  | 52,462 |  |  | 33,699,199
Non-Passenger Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Non-Passenger revenues |  |  | 888,353 |  |  | 9,233 |  |  | — |  |  | — |  |  | 897,586
Cargo |  |  | 221,375 |  |  | 7,461 |  |  | — |  |  | — |  |  | 228,836
Total |  | Ps. | 24,475,331 |  | Ps. | 10,178,362 |  | Ps. | 119,466 |  | Ps. | 52,462 |  | Ps. | 34,825,621
Non-derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (72,949)
|  |  |  |  |  |  |  |  |  |  |  |  |  | Ps. | 34,752,672
|  |  | At the flight time |  |  | At the sale |  | Total
Revenue recognition as of December 31, 2018 |  | Domestic |  | International |  | Domestic |  | International |  | Revenues
Passenger Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fare Revenues |  | Ps. | 12,336,095 |  | Ps. | 6,151,763 |  | Ps. | — |  | Ps. | — |  | Ps. | 18,487,858
Other Passenger Revenues |  |  | 5,182,572 |  |  | 2,598,375 |  |  | 68,264 |  |  | 43,286 |  |  | 7,892,497
|  |  | 17,518,667 |  |  | 8,750,138 |  |  | 68,264 |  |  | 43,286 |  |  | 26,380,355
Non-Passenger Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Non-Passenger revenues |  |  | 685,219 |  |  | 12,138 |  |  | — |  |  | — |  |  | 697,357
Cargo |  |  | 221,324 |  |  | 6,114 |  |  | — |  |  | — |  |  | 227,438
Total |  | Ps. | 18,425,210 |  | Ps. | 8,768,390 |  | Ps. | 68,264 |  | Ps. | 43,286 |  | Ps. | 27,305,150
Schedule of transactions from unearned transportation revenues |
|  | 2020 |  | 2019
January 1, |  | Ps. | 3,679,926 |  | Ps. | 2,438,516
Deferred |  |  | 23,657,563 |  |  | 34,940,609
Recognized in revenue during the year |  |  | (21,486,572) |  |  | (33,699,199)
December 31, |  | Ps. | 5,850,917 |  | Ps. | 3,679,926
Schedule of depreciation rates |
|  | Annual
|  | depreciation rate
Flight equipment |  | 4.0-16.7%
Constructions and improvements |  | Remaining contractual lease term
Computer equipment |  | 25%
Workshop tools |  | 33.3%
Electric power equipment |  | 10%
Communications equipment |  | 10%
Workshop machinery and equipment |  | 10%
Motorized transport equipment platform |  | 25%
Service carts on board |  | 20%
Office furniture and equipment |  | 10%
Leasehold improvements to flight equipment |  | The shorter of: (i) remaining contractual lease term, or (ii) the next major maintenance event
Schedule of exchange rates of local currencies translated to functional currencies |
|  |  |  |  |  | Exchange rates of local |  | Exchange rates of local |  | Exchange rates of local
|  |  |  |  |  | currencies translated to |  | currencies translated to |  | currencies translated to
|  |  |  |  |  | functional currencies |  | functional currencies |  | functional currencies
|  |  |  |  |  | Average |  |  |  |  | Average |  |  |  |  | Average |  |  |
|  | Local |  | Functional |  | exchange rate |  | Exchange rate |  | exchange rate |  | Exchange rate |  | exchange rate |  | Exchange rate
Country |  | currency |  | currency |  | for 2020 |  | as of 2020 |  | for 2019 |  | as of 2019 |  | for 2018 |  | as of 2018
Costa Rica |  | Colon |  | U.S. dollar |  | ₵. | 588.4240 |  | ₵. | 615.7800 |  | ₵. | 590.9574 |  | ₵. | 573.4400 |  | ₵. | 580.8534 |  | ₵. | 609.6100
Guatemala |  | Quetzal |  | U.S. dollar |  | Q. | 7.7292 |  | Q. | 7.8095 |  | Q. | 7.7066 |  | Q. | 7.6988 |  | Q. | 7.5337 |  | Q. | 7.7440
El Salvador |  | U.S Dollar |  | U.S. dollar |  | $. | 21.4961 |  | $ | 19.9487 |  | $. | 19.2618 |  | $. | 18.8452 |  | $. | — |  | $. | —
Summary of estimated useful lives of the assets |
Aircraft and engines |  | up to 18 | years
Spare engines |  | up to 14 | years
Buildings leases |  | one to ten | years
Maintenance component |  | up to eight | years

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