XML 61 R47.htm IDEA: XBRL DOCUMENT

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases

Schedule of composition of the fleet and spare engines, leases


Aircraft				At December		At December
Type		Model		31, 2022		31, 2021
A319		132		3		3
A319		133		—		2
A320		233		39		39
A320		232		1		1
A320NEO		271N		48		39
A321		231		10		10
A321NEO		271N		15		6
				116		100


Engine spare				At December		At December
Type		Model		31, 2022		31, 2021
V2500		V2524-A5		2		2
V2500		V2527M-A5		3		3
V2500		V2527E-A5		6		5
V2500		V2527-A5		6		4
PW1100		PW1127G-JM		5		5
PW1100		PW1133G-JM		1		1
				23		20

* Certain of the Company’s aircraft and engine lease agreements include an option to extend the lease term period. Management evaluates extensions based on the market conditions at the time of renewal.

Summary of carrying amounts of right-of-use assets recognized and the movements during the period


					Spare engine			Land and
		Aircraft leases			leases			building leases			Total
As of January 1^st ,2021		US$	1,674,620		US$	41,567		US$	4,036		US$	1,720,223
Additions			437,334			2,928			13,894			454,156
Modifications			60,239			2,084			6,928			69,251
Disposals			—			—			(273)			(273)
Foreign currency translation effects			(56,768)			—			(3)			(56,771)
Depreciation on right of use assets			(252,761)			(11,626)			(4,964)			(269,351)
As of December 31, 2021			1,862,664			34,953			19,618			1,917,235
Additions			521,711			1,023			30,597			553,331
Modifications			25,895			(168)			5,081			30,808
Depreciation on right of use assets			(299,517)			(11,627)			(9,299)			(320,443)
As of December 31, 2022		US$	2,110,753		US$	24,181		US$	45,997		US$	2,180,931

Summary of carrying amounts of lease liabilities and the movements during the period


		2022			2021
As of January 1^st,		US$	2,412,137		US$	2,212,201
Additions			550,834			464,049
Modifications			29,842			67,589
Disposals			—			(291)
Accretion of interest			165,043			127,329
Foreign exchange effect			(129)			72,449
Foreign currency translation effects			—			(72,221)
Payments			(449,004)			(458,968)
As of 31 December,		US$	2,708,723		US$	2,412,137
Current		US$	335,620		US$	283,843
Non-current		US$	2,373,103		US$	2,128,294

Summary of amounts recognized in profit or loss


		For the year ended
		December 31, 2022			December 31, 2021			December 31, 2020
Depreciation of right-of-use assets		US$	(320,443)		US$	(269,351)		US$	(236,417)
Interest expense on lease liabilities and aircraft and engine lease return obligation (Note 23)			(174,769)			(128,159)			(108,907)
Aircraft and engine variable lease expenses			(124,532)			(83,373)			(85,957)
Total amount recognized in profit or loss		US$	(619,744)		US$	(480,883)		US$	(431,281)