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Financial instruments and risk management (Tables) | 12 Months Ended
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Dec. 31, 2021
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
Schedule of Fuel Sensitivity | ​
​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2021 | ​ | 2020
​ |  | Operating costs |  | Operating costs
​ | ​ | (In thousands of U.S. dollars)
+ US$0.01 per gallon | ​ | 2,731 | ​ | 1,762
- US$0.01 per gallon | ​ | (2,731) | ​ | (1,762)
Schedule of foreign exchange exposure | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | USD |  | Mexican Pesos |  | Others* |  | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash, cash equivalents and restricted cash |  | Ps. | 14,311,541 | ​ | Ps. | 817,735 | ​ | Ps. | 125,600 | ​ | Ps. | 15,254,876
Other accounts receivable, net |  | ​ | 830,688 | ​ |  | 193,727 | ​ |  | 10,189 | ​ |  | 1,034,604
Guarantee deposits |  | ​ | 10,992,268 | ​ |  | — | ​ |  | 6,772 | ​ |  | 10,999,040
Total assets |  | Ps. | 26,134,497 | ​ | Ps. | 1,011,462 | ​ | Ps. | 142,561 | ​ | Ps. | 27,288,520
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: |  | ​ |  | ​ |  |  | ​ |  |  | ​ |  |
Financial debt |  | Ps. | 3,552,092 | ​ | Ps. | 2,724,588 | ​ | Ps. | — | ​ | Ps. | 6,276,680
Lease liabilities |  | ​ | 53,326,884 | ​ |  | — | ​ |  | 1,588 | ​ |  | 53,328,472
Suppliers |  | ​ | 2,504,827 | ​ |  | 3,290,110 | ​ |  | 127,667 | ​ |  | 5,922,604
Other taxes and fees payable |  | ​ | 62,533 | ​ |  | 2,300,533 | ​ |  | 337,117 | ​ |  | 2,700,183
Total liabilities |  | Ps. | 59,446,336 | ​ | Ps. | 8,315,231 | ​ | Ps. | 466,372 | ​ | Ps. | 68,227,939
Net foreign currency position |  | Ps. | (33,311,839) | ​ | Ps. | (7,303,769) | ​ | Ps. | (323,811) | ​ | Ps. | (40,939,419)
*The foreign exchange exposure includes: Quetzales, Colombian pesos and Colones. ​
​ | ​ | ​ | ​
​ | ​ | Thousands of U.S. dollars
​ |  | 2020
Assets: |  | ​ |
Cash, cash equivalents and restricted cash |  | US$ | 495,612
Other accounts receivable, net |  | ​ | 39,997
Guarantee deposits |  | ​ | 479,566
Derivative financial instruments |  | ​ | 10
Total assets |  | US$ | 1,015,185
​ | ​ | ​ | ​
Liabilities: |  | ​ | ​
Financial debt (Note 5) |  | US$ | 183,806
Lease liabilities | ​ | ​ | 2,334,153
Suppliers |  | ​ | 174,553
Other taxes and fees payable |  | ​ | 16,105
Derivative financial instruments |  | ​ | 484
Total liabilities |  | ​ | 2,709,101
Net foreign currency position |  | US$ | (1,693,916)
Schedule of contractual principal payments required on financial liabilities and derivative instruments fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2021
​ | ​ | ​ | Within one | ​ | One to five | ​ | ​ | ​
​ |  | ​ | year |  | years |  | Total
Interest-bearing borrowings: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pre-delivery payments facilities (Note 5) |  | Ps. | 3,535,649 |  | Ps. | — |  | Ps. | 3,535,649
Asset backed trust note (“CEBUR”) (Note 5) | ​ | ​ | 500,000 | ​ | ​ | 2,250,000 |  |  | 2,750,000
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease liabilities: | ​ | ​ |  |  |  |  |  |  |
Aircraft, engines, land and buildings leases | ​ | ​ | 5,842,492 | ​ | ​ | 43,807,747 |  |  | 49,650,239
Aircraft and engine lease return obligation | ​ | ​ | 451,788 | ​ | ​ | 3,436,001 |  |  | 3,887,789
Total |  | Ps. | 10,329,929 |  | Ps. | 49,493,748 |  | Ps. | 59,823,677
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 (“CEBUR”) (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
​
Summary of impact on the equity due to changes in the fair value of forward exchange contracts | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Change in |  | Effect on profit
​ | ​ | MXN$ rate | ​ | before tax
​ | ​ | ​ | ​ | ​ | ​
2021 |  | +5 | % | Ps. | (69,942)
​ |  | -5 | % | ​ | 69,942
​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Change in |  | Effect on profit
​ | ​ | USD$ rate | ​ | before tax
2021 |  | +5 | % | Ps. | (1,439,653)
​ |  | -5 | % | ​ | 1,439,653
​ | ​ | ​ | ​ | ​ | ​
2020 |  | +5 | % | Ps. | (253,763)
​ |  | -5 | % | ​ | 253,763
Schedule of sensitivity analysis of change in fair value of interest hedging instrument | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Change in |  | ​ | ​ |
​ | ​ | MX$ rate | ​ | Effect on cap |
2021 |  | +0.01 | % | Ps. | (30.86) | ​
​ |  | -0.01 | % | ​ | 30.86 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
2020 |  | +0.01 | % | Ps. | (0.28) | ​
​ |  | -0.01 | % | ​ | 0.28 | ​
​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​
​ | ​ | Change in | ​ | ​ | ​
​ | ​ | MX$ rate | ​ | Effect on cap
2021 |  | +0.01 | % | Ps. | (165.44)
​ |  | -0.01 | % | ​ | 165.44
Schedule of debt sensitivity analysis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, 2021 |  | As of December 31, 2020
​ | ​ | + 100 BP | ​ | - 100 BP | ​ | + 100 BP | ​ | - 100 BP
Banco Nacional de Comercio Exterior, S.N.C. (“Bancomext”) |  | 138,476 |  | (138,476) |  | 155,332 |  | (155,332)
Asset backed trust notes (“CEBUR”) |  | 133,173 |  | (133,173) |  | 131,054 |  | (131,054)
Banco Sabadell S.A., Institución de Banca Múltiple (“Sabadell”) |  | 16,064 |  | (16,064) |  | 18,086 |  | (18,086)

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