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Income tax (Tables)

12 Months Ended

Dec. 31, 2023

Income tax

Schedule of income tax in consolidated statements of operations

​

​	​	​	​	​	​	​	​	​	​	​
​		2023			2022			2021
Current income tax expense	​	US$	(21,939)	​	US$	(15,456)	​	US$	(17,903)	​
Deferred income tax benefit (expense)	​		22,316	​		67,595	​		(12,670)	(1)
Total income tax benefit (expense)	​	US$	377	​	US$	52,139	​	US$	(30,573)	​

⁽¹⁾    Includes translation effect by US$ (118)

Schedule of income tax in consolidated statements of OCI

​

​	​	​	​	​	​	​	​	​	​
​		2023			2022			2021
Deferred income tax related to items recognized in OCI during the year		​			​			​
Net gain (loss) cash flow hedges	​	US$	362	​	US$	(80)	​	US$	(274)
Remeasurement gain (loss) of employee benefits	​		32	​		(79)	​		138
Benefit (expense) deferred income tax recognized in OCI	​	US$	394	​	US$	(159)	​	US$	(136)

Schedule of reconciliation of corporate income tax rate to effective tax rate

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​		2023			%		2022			%		2021			%
Statutory income tax rate		US$	2,233	​	30.00	%	US$	(39,709)	​	30.00	%	US$	41,108	​	30.00	%
Amendment tax return effects and other tax adjustments		​	7,074	​	95.05	%	​	1,242	​	(0.94)	%	​	(29)	​	(0.02)	%
Inflation on furniture, intangible and equipment		​	(1,370)	​	(18.41)	%	​	(309)	​	0.23	%	​	(2,323)	​	(1.70)	%
Inflation of tax losses	​	​	(6,734)	​	(90.48)	%	​	(4,335)	​	3.28	%	​	(1,971)	​	(1.44)	%
Foreign countries difference with Mexican statutory rate	​	​	21	​	0.28	%	​	(9)	​	0.00	%	​	124	​	0.10	%
Annual inflation adjustment		​	(3,262)	​	(43.83)	%	​	(11,200)	​	8.46	%	​	(7,971)	​	(5.82)	%
Effect of unrecognized (recognized) NOLs	​	​	3,030	​	40.71	%	​	7	​	0.00	%	​	(434)	​	(0.32)	%
Non-deductible expenses	​	​	26,132	​	351.15	%	​	7,695	​	(5.81)	%	​	2,069	​	1.51	%
Difference in Foreign Exchange losses for tax purposes	​	​	(27,501)	​	(369.53)	%	​	(5,521)	​	4.17	%	​	—	​	—	​
​		US$	(377)	​	(5.06)	%	US$	(52,139)	​	39.39	%	US$	30,573	​	22.31	%

Schedule of consolidated deferred taxes

​

​	​	​	​	​	​	​
​	​	For the years ended December 31
​	​	2023		​	2022
Deferred income tax assets:		​			​
Lease liability	​	US$	899,011	​	US$	755,855
Unearned transportation revenue	​		13,392	​		58,010
Aircraft and engine lease return obligation	​		86,696	​		77,007
Tax losses available for offsetting against future taxable income	​	​	39,360	​	​	38,387
Intangible	​		23,190	​		29,687
Allowance for doubtful accounts	​		411	​		4,854
Other financing agreements	​	​	45,919	​	​	—
Employee benefits	​		4,220	​		2,486
Employee profit sharing	​		375	​		134
Derivative financial instruments	​	​	121	​	​	—
Provisions	​		52,848	​		—
​	​		1,165,543	​		966,420
Deferred income tax liabilities:	​		​	​		​
Right of use asset	​	​	735,092	​	​	571,521
Supplemental rent	​		72,521	​		55,479
Rotable spare parts, furniture and equipment, net	​		120,846	​		120,561
Provisions	​		—	​		7,345
Inventories	​	​	4,835	​	​	4,594
Other prepayments	​		2,602	​		376
Derivative Financial instruments	​		—	​		33
Prepaid expenses and other assets	​		9,331	​		8,963
​	​		945,227	​		768,872
​	​	US$	220,316	​	US$	197,548

Schedule of components of deferred taxes in the consolidated statement of financial position

​

​	​	​	​	​	​	​
​		2023			2022
​		​			​
Deferred income tax assets	​	US$	236,026	​	US$	208,010
Deferred income tax liabilities	​		(15,710)	​		(10,462)
Deferred income tax assets, net	​	US$	220,316	​	US$	197,548

Schedule of reconciliation of deferred tax liability, net

​

​	​	​	​	​	​	​
​		2023			2022
Opening balance as of January 1,	​	US$	197,548	​	US$	130,081
Deferred income tax benefit during the current year recorded on profits	​		22,316	​		67,595
Deferred income tax benefit (expense) during the current year recorded in accumulated other comprehensive loss	​		394	​		(159)
Conversion effects	​	​	58	​	​	31
Closing balance as of December 31,	​	US$	220,316	​	US$	197,548

Schedule of available tax carry-forwards

An analysis of the available tax losses carry-forward of the Company at December 31, 2023 is as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year

Historical

Adjusted

Amortized

Amount outstanding to

Year of

of loss

Losses

losses

losses

amortize

expiration

2019

​

US$

291

​

US$

356

​

US$

249

​

US$

107

2029

2020

​

3,345

​

3,871

​

799

​

3,072

2030

2021

​

670

​

780

​

—

​

780

2031

2022

​

​

127,127

​

​

136,393

​

​

14,477

​

​

121,916

2032

2022

​

​

6,025

​

​

6,025

​

​

699

​

​

5,326

​

2025

2023

​

​

9,504

​

​

9,504

​

​

—

​

​

9,504

​

2026

​

​

US$

146,962

​

US$

156,929

​

US$

16,224

​

US$

140,705

​

​

A breakdown of available tax loss carry-forward of Controladora and its subsidiaries as of December 31, 2023, is as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Historical

​

Adjusted

​

Amortized

​

Total amount

​

loss

losses

losses

outstanding to amortize

Concesionaria

​

US$

126,855

​

US$

136,100

​

US$

14,477

​

US$

121,623

​

Vuela Aviación

​

15,529

​

15,529

​

699

​

14,830

​

Comercializadora

​

​

3,202

​

​

3,897

​

​

249

​

​

3,648

​

Viajes Vuela

​

1,376

​

1,403

​

799

​

604

​

​

​

US$

146,962

​

US$

156,929

​

US$

16,224

​

US$

140,705

​

Unrecognized Net Operating Losses (NOLs)

​

​

​

​

​

​

​

​

​

​

​

(9,504)

​

​

​

​

​

​

​

​

​

​

​

​

US$

131,201

​

Tax rate

​

​

​

​

​

​

​

​

​

​

​

30

%

Deferred income tax

​

​

​

​

​

​

​

​

​

​

US$

39,360

​

Schedule of tax balances

​

​	​	​	​
​		2023
(Cuenta de capital de aportación “CUCA”)	​	US$	330,378
(Cuenta de Utilidad Fiscal Neta “CUFIN”(1))	​		260,187

(1) The calculation comprises all the subsidiaries of the Company.

​

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- Definition

The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets]

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