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Financial instruments and risk management (Tables)
 12 Months Ended
Dec. 31, 2024
IfrsStatementLineItems [Line Items]  
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
            
   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
          
   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
          
   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
          
   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
                    
   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
                  
   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
          
   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.