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Description of the business and summary of significant accounting policies (Tables)
 12 Months Ended
Dec. 31, 2022
Description of the business and summary of significant accounting policies  
Schedule of companies included in the consolidated financial statements

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% Equity interest

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Principal

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January

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Name

    

Activities

    

Country

    

2022

    

2021

    

1st 2021

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Concesionaria Vuela Compañía de Aviación S.A.P.I. de C.V.

 

Air transportation services for passengers, cargo and mail throughout Mexico and abroad

 

Mexico

 

100

%  

100

%

100

%

Vuela Aviación, S.A.

 

Air transportation services for passengers, cargo and mail in Costa Rica and abroad

 

Costa Rica

 

100

%  

100

%

100

%

Vuela, S.A. (“Vuela”) *

 

Air transportation services for passengers, cargo and mail in Guatemala and abroad

 

Guatemala

 

100

%  

100

%

100

%

Vuela El Salvador, S.A. de C.V.

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Air transportation services for passengers, cargo and mail in El Salvador and abroad

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El Salvador

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100

%  

100

%

100

%

Comercializadora Volaris, S.A. de C.V. (“Comercializadora”)

 

Merchandising of services

 

Mexico

 

100

%  

100

%

100

%

Servicios Earhart, S.A.*

 

Rendering specialized services to its affiliates

 

Guatemala

 

100

%  

100

%

100

%

Servicios Corporativos Volaris, S.A. de C.V. (“Servicios Corporativos”)

 

Rendering specialized services to its affiliates

 

Mexico

 

100

%  

100

%

100

%

Servicios Administrativos Volaris, S.A. de C.V. (“Servicios Administrativos”) (3)

 

Recruitment and payroll

 

Mexico

 

—

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—

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100

%

Comercializadora V Frecuenta, S.A. de C.V. (“Loyalty Program”) *

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Loyalty Program

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Mexico

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100

%  

100

%

100

%

Viajes Vuela, S.A. de C.V. (“Viajes Vuela”)

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Travel agency

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Mexico

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100

%  

100

%

100

%

Guatemala Dispatch Service, S.A., (“GDS, S.A.”) (4)

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Aeronautical Technical Services

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Guatemala

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100

%

100

%

—

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CIBanco, S.A., Institución de Banca Múltiple, Fidecomiso 1710 (1)

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Pre-delivery payments financing (Note 5)

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Mexico

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100

%

100

%

100

%

CIBanco, S.A., Institución de Banca Múltiple, Fidecomiso 1711 (2)

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Pre-delivery payments financing (Note 5)

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Mexico

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100

%

100

%

100

%

Fideicomiso Irrevocable de Administración número F/307750 “Administrative Trust” **

 

Share administration trust (Note 18)

 

Mexico

 

100

%  

100

%

100

%

Fideicomiso Irrevocable de Administración número F/745291 “Administrative Trust”

 

Share administration trust (Note 18)

 

Mexico

 

100

%  

100

%

100

%

Fideicomiso de Administración número CIB/3081 “Administrative Trust”

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Share administration trust (Note 18)

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Mexico

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100

%  

100

%  

100

%

Fideicomiso Irrevocable de Administración número CIB/3249 “Administrative Trust”

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Asset backed securities trustor & administrator (Note 5)

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Mexico

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100

%  

100

%

100

%

CIBanco, S.A., Institución de Banca Múltiple, Fideicomiso CIB/3853 (5)

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Pre-delivery payments financing (Note 5)

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Mexico

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100

%  

—

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—

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CIBanco, S.A., Institución de Banca Múltiple, Fideicomiso CIB/3855 (6)

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Pre-delivery payments financing (Note 5)

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Mexico

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100

%  

—

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—

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CIBanco, S.A., Institución de Banca Múltiple, Fideicomiso CIB/3866 (6)

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Pre-delivery payments financing (Note 5)

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Mexico

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100

%  

—

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—

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CIBanco, S.A., Institución de Banca Múltiple, Fideicomiso CIB/3867 (7)

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Pre-delivery payments financing (Note 5)

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Mexico

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100

%  

—

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—

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CIBanco, S. A, Institución de Banca Múltiple, Fideicomiso CIB/3921 (8)

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Pre-delivery payments financing (Note 5)

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Mexico

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100

%  

—

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—

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*The Company has not started operations.

**The Trust was terminated on August 9, 2022.

(1)With effect from October 16, 2020, the Successor of the Trust 1710 was changed from Deutsche Bank México, S.A. to CIBanco, S.A., Institución de Banca Múltiple.
(2)With effect from October 16, 2020, the Successor of the Trust 1711 was changed from Deutsche Bank México, S.A. to CIBanco, S.A., Institución de Banca Múltiple.
(3)From August 31,2021, the Company merged with Concesionaria Vuela Compañía de Aviación S.A.P.I. de C.V.
(4)The Company was acquired on October 5, 2021.
(5)With effect from June 8, 2022 the trust was constituted.
(6)With effect from April 1st, 2022 the trusts were constituted.
(7)With effect from April 13, 2022 the trust was constituted.
(8)With effect from July 21, 2022 the trust was constituted.
Schedule of depreciation rates

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Annual

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depreciation rate

Flight equipment

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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

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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

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Schedule of most relevant exchange rates utilized in the conversions to USD dollar

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2022

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2021

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2020

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End of period

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Average

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End of period

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Average

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End of period

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Average

Currency

    

exchange rate

    

exchange rate

    

exchange rate

    

exchange rate

    

exchange rate

    

exchange rate

Mexican Peso

 

Ps.

19.3615

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Ps.

20.1254

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Ps.

20.5835

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Ps.

20.2818

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Ps.

19.9487

 

Ps.

21.4961

Colon

 

₵.

594.9700

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₵.

649.5908

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₵.

645.900

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₵.

624.3460

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₵.

615.7800

 

₵.

588.4240

Quetzal

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Q.

7.8515

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Q.

7.7765

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Q.

7.7285

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Q.

7.7589

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Q.

7.8095

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Q.

7.7292

Colombian Peso

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COP.

4,810.20

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COP.

4,255.44

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COP.

3,981.16

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COP.

3,751.33

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COP.

3,428.26

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COP.

3,695.48

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Schedule of exchange rates of local currencies translated to functional currencies

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2022

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2021

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2020

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​

End of period

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Average

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End of period

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Average

​

End of period

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Average

Currency

    

exchange rate

    

exchange rate

    

exchange rate

    

exchange rate

    

exchange rate

    

exchange rate

Mexican Peso

 

Ps.

19.3615

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Ps.

20.1254

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Ps.

20.5835

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Ps.

20.2818

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Ps.

19.9487

 

Ps.

21.4961

Colon

 

₵.

594.9700

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₵.

649.5908

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₵.

645.900

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₵.

624.3460

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₵.

615.7800

 

₵.

588.4240

Quetzal

​

Q.

7.8515

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Q.

7.7765

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Q.

7.7285

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Q.

7.7589

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Q.

7.8095

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Q.

7.7292

Colombian Peso

​

COP.

4,810.20

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COP.

4,255.44

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COP.

3,981.16

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COP.

3,751.33

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COP.

3,428.26

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COP.

3,695.48

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Summary of estimated useful lives of the assets

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Aircraft and engines

    

up to 18

years

Spare engines

 

up to 18

years

Buildings leases

 

one to ten

years

Maintenance component

 

up to eight

years

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