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Financial instruments and risk management (Tables) | 12 Months Ended
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Dec. 31, 2024
IfrsStatementLineItems [Line Items] |
Schedule of expired and the only outstanding |
Schedule of expired and the only outstanding |  |  |  |
|  | Position as of December 31, 2024 Jet fuel Asian call option contracts maturities
|  | 1Q 2025
Notional volume in gallons (thousands) (1) |  |  | 14,356 |
Strike price agreed rate per gallon (2) |  | US$ | 2.18 / 2.25 |
Approximate percentage of hedge (of expected consumption value) |  |  | 17 | %
(1) | U.S. Gulf Coast Jet Fuel 54 as underlying asset
(2) | Weighted Average
Schedule of fuel sensitivity |
Schedule of fuel sensitivity |  |  |  |  |  |  |  |  |
|  | As of December 31,
|  | 2024 |  | 2023 |  | 2022
|  | Operating costs |  | Operating costs |  | Operating costs
|  | (In thousands of U.S. dollars)
+ US$0.01 per gallon |  | 3,227 |  |  | 3,719 |  |  | 3,399 |
- US$0.01 per gallon |  | (3,227 | ) |  | (3,719 | ) |  | (3,399 | )
Schedule of foreign exchange exposure |
Schedule of foreign exchange exposure |  |  |  |  |  |  |  |
|  | Mexican Pesos |  | Others (1)
|  | (In thousands of U.S. dollars)
Assets: |  |  |  |
Cash and cash equivalents |  | US$ | 69,156 |  |  | US$ | 31,847 |
Other accounts receivable, net |  |  | 45,381 |  |  |  | 676 |
Guarantee deposits |  |  | 27,710 |  |  |  | 445 |
Derivative financial instruments |  |  | 271 |  |  |  | — |
Other assets |  |  | 5,169 |  |  |  | — |
Total assets |  | US$ | 147,687 |  |  | US$ | 32,968 |
Liabilities: |  |  |  |  |  |  |  |
Financial debt |  | US$ | 118,590 |  |  | US$ | — |
Lease liabilities |  |  | 19,772 |  |  |  | 52 |
Suppliers |  |  | 132,244 |  |  |  | 2,537 |
Other liabilities |  |  | 253,822 |  |  |  | 2,206 |
Total liabilities |  | US$ | 524,428 |  |  | US$ | 4,795 |
Net foreign currency position |  | US$ | (376,741 | ) |  | US$ | 28,173 |
(1) | The foreign exchange exposure mainly includes: Colones, Colombian pesos and Quetzales.
The summary of quantitative data about the Company’s exposure to currency risk as of December 31, 2023 is as set forth below:
|  | Mexican Pesos |  | Others (1)
|  | (In thousands of U.S. dollars)
Assets: |  |  |  |
Cash and cash equivalents |  | US$ | 100,488 |  |  | US$ | 13,287 |
Other accounts receivable, net |  |  | 54,594 |  |  |  | 34,650 |
Guarantee deposits |  |  | 29,951 |  |  |  | 514 |
Derivative financial instruments |  |  | 1,683 |  |  |  | — |
Total assets |  | US$ | 186,716 |  |  | US$ | 48,451 |
Liabilities: |  |  |  |  |  |  |  |
Financial debt |  | US$ | 186,251 |  |  | US$ | — |
Lease liabilities |  |  | 19,655 |  |  |  | 73 |
Suppliers |  |  | 142,453 |  |  |  | 2,254 |
Other liabilities |  |  | 57,283 |  |  |  | 2,958 |
Total liabilities |  | US$ | 405,642 |  |  | US$ | 5,285 |
Net foreign currency position |  | US$ | (218,926 | ) |  | US$ | 43,166 |
(1) | The foreign exchange exposure mainly includes: Colones, Colombian pesos and Quetzales.
Schedule of sensitivity analysis of change in fair value of interest hedging instrument |
Schedule of sensitivity analysis of change in fair value of interest hedging instrument |  |  |  |  |  |  |
|  | Change in MXN$ rate |  | Effect on profit before tax
|  |  |  | (In thousands of U.S. dollars)
2024 |  | +5 | % |  | US$ | (17,428 | )
|  | -5 | % |  |  | 17,428 |
2023 |  | +5 | % |  | US$ | (8,788 | )
|  | -5 | % |  |  | 8,788 |
Schedule of sensitivity analysis of fair value |
Schedule of sensitivity analysis of fair value |  |  |  |  |  |  |
|  | Change in interest rate |  | Effect on cap (1)
|  |  |  | (In thousands of U.S. dollars)
2023 |  | +0.50 | % |  | US$ | 14 |
|  | -0.50 | % |  |  | (13 | )
(1) | The effect would affect OCI in relation to the interest rate caps.
Schedule of debt sensitivity analysis |
Schedule of debt sensitivity analysis |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Year ended December 31, 2024 |  | Year ended December 31, 2023
|  | +100 BP |  | - 100 BP |  | + 100 BP |  | - 100 BP
|  | (In thousands of U.S. dollars)
Asset-backed trust notes (“CEBUR”) (1) |  | US$ | 1,385 |  |  | US$ | (1,385 | ) |  | US$ | 1,435 |  |  | US$ | (1,435 | )
Incline II B Shannon 18 Limited (PDP BBAM) |  |  | 889 |  |  |  | (889 | ) |  |  | 930 |  |  |  | (930 | )
Banco Santander México, S.A. y Banco Nacional de Comercio Exterior, S.N.C. (“Santander-Bancomext”) |  |  | 783 |  |  |  | (783 | ) |  |  | 533 |  |  |  | (533 | )
GY Aviation Lease 1714 Co. Limited (PDP CDB) |  |  | 651 |  |  |  | (651 | ) |  |  | 352 |  |  |  | (352 | )
JSA International U.S. Holdings, LLC (PDP JSA) |  |  | 294 |  |  |  | (294 | ) |  |  | 288 |  |  |  | (288 | )
Oriental Leasing 6 Company Limited (PDP CMB) |  |  | 834 |  |  |  | (834 | ) |  |  | 131 |  |  |  | (131 | )
Total |  | US$ | 4,836 |  |  | US$ | (4,836 | ) |  | US$ | 3,669 |  |  | US$ | (3,669 | )
(1) | Every Trust Note of (CEBUR VOLARCB19 and VOLARCB21L) issuance has a 10% CAP, and for every Trust Note of (CEBUR VOLARCB23), issuance has a 13% CAP, both on TIIE 28 to limit interest payments to increasing rates.
Schedule of contractual principal payments required on financial liabilities and derivative instruments fair value |
Schedule of contractual principal payments required on financial liabilities and derivative instruments fair value |  |  |  |  |  |  |  |  |  |  |  |
|  | December 31, 2024
|  | Within one year |  | More than a year |  | Total
Interest-bearing borrowings: |  |  |  |  |  |  |  |  |
Pre-delivery payments facilities (Note 5) |  | US$ | 215,393 |  |  | US$ | 145,589 |  |  | US$ | 360,982 |
Asset-backed trust note (“CEBUR”) (Note 5) |  |  | 24,669 |  |  |  | 94,565 |  |  |  | 119,234 |
Other financing agreements (Note 5) |  |  | 30,918 |  |  |  | 288,978 |  |  |  | 319,896 |
Lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Aircraft, engines, land and buildings leases (Note 14) |  |  | 391,158 |  |  |  | 2,670,378 |  |  |  | 3,061,536 |
Aircraft and engine lease return obligation (Note 16) |  |  | 44,045 |  |  |  | 333,332 |  |  |  | 377,377 |
Total |  | US$ | 706,183 |  |  | US$ | 3,532,842 |  |  | US$ | 4,239,025 |
|  | December 31, 2023
|  | Within one year |  | More than a year |  | Total
Interest-bearing borrowings: |  |  |  |  |  |  |  |  |
Pre-delivery payments facilities (Note 5) |  | US$ | 157,318 |  |  | US$ | 151,322 |  |  | US$ | 308,640 |
Asset-backed trust note (“CEBUR”) (Note 5) |  |  | 44,396 |  |  |  | 143,054 |  |  |  | 187,450 |
Other financing agreements (Note 5) |  |  | 12,157 |  |  |  | 140,906 |  |  |  | 153,063 |
Lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Aircraft, engines, land and buildings leases (Note 14) |  |  | 372,697 |  |  |  | 2,518,745 |  |  |  | 2,891,442 |
Aircraft and engine lease return obligation (Note 16) |  |  | 803 |  |  |  | 286,405 |  |  |  | 287,208 |
Total |  | US$ | 587,371 |  |  | US$ | 3,240,432 |  |  | US$ | 3,827,803 |
Cebur Volarcb 21l [Member] |
IfrsStatementLineItems [Line Items] |
Schedule of sensitivity analysis of fair value on CEBUR |
Schedule of sensitivity analysis of fair value on CEBUR |  |  |  |  |  |  |
|  | Change in interest rate |  | Effect on cap (1)
|  |  |  | (In thousands of U.S. dollars)
2024 |  | +0.50 | % |  | US$ | 100 |
|  | -0.50 | % |  |  | (70 | )
2023 |  | +0.50 | % |  | US$ | 311 |
|  | -0.50 | % |  |  | (269 | )
(1) | The effect would affect OCI in relation to the interest rate caps.
Cebur Volarcb 23 [Member] |
IfrsStatementLineItems [Line Items] |
Schedule of sensitivity analysis of fair value on CEBUR |
|  | Change in interest rate |  | Effect on cap (1)
|  |  |  | (In thousands of U.S. dollars)
2024 |  | +0.50 | % |  | US$ | 149 |
|  | -0.50 | % |  |  | (125 | )
2023 |  | +0.50 | % |  | US$ | 132 |
|  | -0.50 | % |  |  | (89 | )
(1) | The effect would affect OCI in relation to the interest rate caps.

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