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Finance income and cost | 12 Months Ended
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Dec. 31, 2021
Finance income and cost |
Finance income and cost | 23. Finance income and cost An analysis of finance income is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019
Interest on cash and equivalents | ​ | Ps. | 58,269 | ​ | Ps. | 93,122 | ​ | Ps. | 201,191
Interest on asset backed trust notes | ​ |  | 5,714 | ​ |  | 6,342 | ​ |  | 6,525
Interest on recovery of guarantee deposits | ​ |  | 7,595 | ​ |  | 2,047 | ​ |  | 83
​ | ​ | Ps. | 71,578 | ​ | Ps. | 101,511 | ​ | Ps. | 207,799
​ An analysis of finance cost is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019
Interest expense on lease liabilities and aircraft and engine lease return obligation | ​ | Ps. | 2,603,820 | ​ | Ps. | 2,350,250 | ​ | Ps. | 2,128,162
Derivative financial instruments loss | ​ | ​ | — | ​ | ​ | 448,559 | ​ | ​ | —
Interest on asset backed trust notes | ​ | ​ | 115,578 | ​ | ​ | 116,240 | ​ | ​ | 80,314
Cost of letter credit notes | ​ | ​ | 61,549 | ​ | ​ | 73,141 | ​ | ​ | 49,856
Bank fees and others | ​ |  | 4,574 | ​ |  | 3,707 | ​ |  | 3,607
Interest on debts and borrowings* | ​ |  | 14,222 | ​ |  | 16,368 | ​ |  | 1,660
Other finance costs | ​ |  | 32,246 | ​ |  | 10,219 | ​ |  | 6,230
​ | ​ | Ps. | 2,831,989 | ​ | Ps. | 3,018,484 | ​ | Ps. | 2,269,829
* The borrowing costs related to the acquisition or construction of qualifying assets are capitalized as part of the cost of the asset (Note 12). Interest expense not capitalized is related to the short-term working capital facility from Citibanamex. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019
Interest on debts and borrowings | ​ | Ps. | 158,188 | ​ | Ps. | 400,406 | ​ | Ps. | 457,973
Capitalized interest (Note 12) | ​ |  | (143,966) | ​ |  | (384,038) | ​ |  | (456,313)
Net interest on debts and borrowing in the consolidated statements of operations | ​ | Ps. | 14,222 | ​ | Ps. | 16,368 | ​ | Ps. | 1,660
​

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