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Finance income and cost | 12 Months Ended
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Dec. 31, 2022
Finance income and cost |
Finance income and cost | 23. Finance income and cost An analysis of finance income is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Interest on cash and equivalents | ​ | US$ | 12,036 | ​ | US$ | 2,872 | ​ | US$ | 4,384
Interest on cash and equivalents held in the trust CIB/3249 | ​ |  | 711 | ​ |  | 280 | ​ |  | 301
Interest on recovery of guarantee deposits | ​ |  | 155 | ​ |  | 379 | ​ |  | 99
​ | ​ | US$ | 12,902 | ​ | US$ | 3,531 | ​ | US$ | 4,784
​ An analysis of finance cost is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Interest expense on lease liabilities and aircraft and engine lease return obligation | ​ | US$ | 174,769 | ​ | US$ | 128,159 | ​ | US$ | 108,907
Interest on asset backed trust notes | ​ | ​ | 12,049 | ​ | ​ | 5,672 | ​ | ​ | 5,448
Cost of letter credit notes | ​ | ​ | 4,131 | ​ | ​ | 3,025 | ​ | ​ | 3,410
Other finance costs | ​ | ​ | 584 | ​ | ​ | 1,589 | ​ | ​ | 481
Interest on debts and borrowings* | ​ | ​ | 533 | ​ | ​ | 703 | ​ | ​ | 768
Bank fees and others | ​ |  | 308 | ​ |  | 226 | ​ |  | 176
Derivative financial instruments loss | ​ | ​ | 161 | ​ | ​ | — | ​ | ​ | 19,130
​ | ​ | US$ | 192,535 | ​ | US$ | 139,374 | ​ | US$ | 138,320
​ * 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. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Interest on debts and borrowings | ​ | US$ | 8,448 | ​ | US$ | 7,801 | ​ | US$ | 18,640
Capitalized interest (Note 12) | ​ |  | (7,915) | ​ |  | (7,098) | ​ |  | (17,872)
Net interest on debts and borrowing in the consolidated statements of operations | ​ | US$ | 533 | ​ | US$ | 703 | ​ | US$ | 768
​

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