Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2017shares | |
Document And Entity Information | |
Entity Registrant Name | LATAM AIRLINES GROUP S.A. |
Entity Central Index Key | 1,047,716 |
Document Type | 20-F |
Trading Symbol | LTM |
Document Period End Date | Dec. 31, 2017 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Entity a Well-known Seasoned Issuer | Yes |
Entity a Voluntary Filer | No |
Entity's Reporting Status Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 0 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2,017 |
CONSOLIDATED STATEMENT OF FINAN
CONSOLIDATED STATEMENT OF FINANCIAL POSITION - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Current assets | |||
Cash and cash equivalents | $ 1,142,004 | $ 949,327 | |
Other financial assets | 559,919 | 712,828 | |
Other non-financial assets | 221,188 | 212,242 | |
Trade and other accounts receivable | 1,214,050 | 1,107,889 | |
Accounts receivable from related entities | 2,582 | 554 | |
Inventories | 236,666 | 241,363 | |
Tax assets | 77,987 | 65,377 | |
Total current assets other than non-current assets (or disposal groups) classified as held for sale or as held for distribution to owners | 3,454,396 | 3,289,580 | |
Non-current assets (or disposal groups) classified as held for sale or as held for distribution to owners | 291,103 | 337,195 | |
Total current assets | 3,745,499 | 3,626,775 | |
Non-current assets | |||
Other financial assets | 88,090 | 102,125 | |
Other non-financial assets | 220,807 | 237,344 | |
Accounts receivable | 6,891 | 8,254 | |
Intangible assets other than goodwill | 1,617,247 | 1,610,313 | |
Goodwill | 2,672,550 | 2,710,382 | |
Property, plant and equipment | 10,065,335 | 10,498,149 | |
Tax assets | 17,532 | 20,272 | |
Deferred tax assets | 364,021 | 384,580 | |
Total non-current assets | 15,052,473 | 15,571,419 | |
Total assets | 18,797,972 | 19,198,194 | |
Current liabilities | |||
Other financial liabilities | 1,300,949 | 1,839,528 | |
Trade and other accounts payables | 1,695,202 | 1,593,068 | |
Accounts payable to related entities | 760 | 269 | |
Other provisions | [1] | 2,783 | 2,643 |
Tax liabilities | 3,511 | 14,286 | |
Other non-financial liabilities | 2,823,963 | 2,762,245 | |
Total current liabilities other than disposal groups classified as held for sale | 5,827,168 | 6,212,039 | |
Liabilities included in disposal groups classified as held for sale | 15,546 | 10,152 | |
Total current liabilities | 5,842,714 | 6,222,191 | |
Non-current liabilities | |||
Other financial liabilities | 6,605,508 | 6,796,952 | |
Accounts payable | 498,832 | 359,391 | |
Other provisions | [1] | 374,593 | 422,494 |
Deferred tax liabilities | 949,697 | 915,759 | |
Employee benefits | 101,087 | 82,322 | |
Other non-financial liabilities | 158,305 | 213,781 | |
Total non-current liabilities | 8,688,022 | 8,790,699 | |
Total liabilities | 14,530,736 | 15,012,890 | |
EQUITY | |||
Share capital | 3,146,265 | 3,149,564 | |
Retained earnings | 475,118 | 366,404 | |
Treasury Shares | (178) | (178) | |
Other reserves | 554,884 | 580,870 | |
Parent's ownership interest | 4,176,089 | 4,096,660 | |
Non-controlling interest | 91,147 | 88,644 | |
Total equity | 4,267,236 | 4,185,304 | |
Total liabilities and equity | $ 18,797,972 | $ 19,198,194 | |
[1] | Total other provision at December 31, 2017, and 2016, include the fair value correspond to those contingencies from the business combination with TAM S.A and subsidiaries, with a probability of loss under 50%, which are not provided for the normal application of IFRS enforcement and that only must be recognized in the context of a business combination in accordance with IFRS 3. |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME BY FUNCTION - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Profit or loss [abstract] | |||
Revenue | $ 9,613,907 | $ 8,988,340 | $ 9,740,045 |
Cost of sales | (7,441,849) | (6,967,037) | (7,636,709) |
Gross margin | 2,172,058 | 2,021,303 | 2,103,336 |
Other income | 549,889 | 538,748 | 385,781 |
Distribution costs | (699,600) | (747,426) | (783,304) |
Administrative expenses | (938,931) | (872,954) | (878,006) |
Other expenses | (368,883) | (373,738) | (323,987) |
Other gains/(losses) | (7,754) | (72,634) | (55,280) |
Income from operation activities | 706,779 | 493,299 | 448,540 |
Financial income | 78,695 | 74,949 | 75,080 |
Financial costs | (393,286) | (416,336) | (413,357) |
Share of profit of investments accounted for using the equity method | 37 | ||
Foreign exchange gains/(losses) | (18,718) | 121,651 | (467,896) |
Result of indexation units | 748 | 311 | 481 |
Income (loss) before taxes | 374,218 | 273,874 | (357,115) |
Income (loss) tax expense / benefit | (173,504) | (163,204) | 178,383 |
NET INCOME (LOSS) FOR THE PERIOD | 200,714 | 110,670 | (178,732) |
Income (loss) attributable to owners of the parent | 155,304 | 69,220 | (219,274) |
Income (loss) attributable to non-controlling interest | 45,410 | 41,450 | 40,542 |
Net income (loss) for the year | $ 200,714 | $ 110,670 | $ (178,732) |
EARNINGS PER SHARE | |||
Basic earnings (losses) per share (in dollars per share) | $ 0.2561 | $ 0.12665 | $ (0.40193) |
Diluted earnings (losses) per share (in dollars per share) | $ 0.2561 | $ 0.12665 | $ (0.40193) |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Consolidated Statement Of Comprehensive Income | |||
NET INCOME (LOSS) | $ 200,714 | $ 110,670 | $ (178,732) |
Components of other comprehensive income that will not be reclassified to income before taxes | |||
Other comprehensive income, before taxes, gains (losses) by new measurements on defined benefit plans | 2,763 | (3,105) | (14,631) |
Total other comprehensive income that will not be reclassified to income before taxes | 2,763 | (3,105) | (14,631) |
Currency translation differences | |||
Gains (losses) on currency translation, before tax | (47,495) | 494,362 | (1,409,439) |
Other comprehensive income, before taxes, currency translation differences | (47,495) | 494,362 | (1,409,439) |
Cash flow hedges | |||
Gains (losses) on cash flow hedges before taxes | 18,344 | 127,390 | 80,387 |
Other comprehensive income (losses), before taxes, cash flow hedges | 18,344 | 127,390 | 80,387 |
Total other comprehensive income that will be reclassified to income before taxes | (29,151) | 621,752 | (1,329,052) |
Other components of other comprehensive income (loss), before taxes | (26,388) | 618,647 | (1,343,683) |
Income tax relating to other comprehensive income that will not be reclassified to income | |||
Income tax relating to new measurements on defined benefit plans | (785) | 921 | 3,911 |
Accumulate income tax relating to other comprehensive income that will not be reclassified to income | (785) | 921 | 3,911 |
Income tax relating to other comprehensive income that will be reclassified to income | |||
Income tax related to cash flow hedges in other comprehensive income | (1,770) | (34,695) | (21,103) |
Income taxes related to components of other comprehensive income that will be reclassified to income | (1,770) | (34,695) | (21,103) |
Total Other comprehensive income | (28,943) | 584,873 | (1,360,875) |
Total comprehensive income (loss) | 171,771 | 695,543 | (1,539,607) |
Comprehensive income (loss) attributable to owners of the parent | 128,876 | 648,539 | (1,551,331) |
Comprehensive income (loss) attributable to non-controlling interests | 42,895 | 47,004 | 11,724 |
TOTAL COMPREHENSIVE INCOME (LOSS) | $ 171,771 | $ 695,543 | $ (1,539,607) |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS DIRECT - METHOD - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash collection from operating activities | |||
Proceeds from sales of goods and services | $ 10,595,718 | $ 9,918,589 | $ 11,372,397 |
Other cash receipts from operating activities | 73,668 | 70,359 | 88,237 |
Payments for operating activities | |||
Payments to suppliers for goods and services | (6,722,713) | (6,756,121) | (7,029,582) |
Payments to and on behalf of employees | (1,955,310) | (1,820,279) | (2,165,184) |
Other payments for operating activities | (223,706) | (162,839) | (351,177) |
Income taxes refunded (paid) | (91,986) | (59,556) | (57,963) |
Other cash inflows (outflows) | (8,931) | (209,269) | (184,627) |
Net cash flows from operating activities | 1,666,740 | 980,884 | 1,672,101 |
Cash flows used in investing activities | |||
Cash flows from losses of control of subsidiaries or other businesses | 6,503 | ||
Other cash receipts from sales of equity or debt instruments of other entities | 3,248,693 | 2,969,731 | 519,460 |
Other payments to acquire equity or debt instruments of other entities | (3,106,411) | (2,706,733) | (704,115) |
Amounts raised from sale of property, plant and equipment | 51,316 | 76,084 | 57,117 |
Purchases of property, plant and equipment | (403,666) | (694,370) | (1,569,749) |
Amounts raised from sale of intangible assets | 1 | 91 | |
Purchases of intangible assets | (87,318) | (88,587) | (52,449) |
Interest received | 12,684 | 11,242 | 43,374 |
Other cash inflows (outflows) | (9,223) | 843 | 10,576 |
Net cash flow from (used in) investing activities | (287,422) | (431,789) | (1,695,695) |
Cash flows from (used in) financing activities | |||
Amounts raised from issuance of shares | 608,496 | ||
Amounts raised from long-term loans | 1,305,384 | 1,820,016 | 1,791,484 |
Amounts raised from short-term loans | 132,280 | 279,593 | 205,000 |
Loans repayments | (1,829,191) | (2,121,130) | (1,263,793) |
Payments of finance lease liabilities | (344,901) | (314,580) | (342,614) |
Dividends paid | (66,642) | (41,223) | (35,032) |
Interest paid | (389,724) | (398,288) | (383,648) |
Other cash inflows (outflows) | 13,706 | (229,163) | (99,757) |
Net cash flows from (used in) financing activities | (1,179,088) | (396,279) | (128,360) |
Net increase (decrease) in cash and cash equivalents before effect of exchanges rate change | 200,230 | 152,816 | (151,954) |
Effects of variation in the exchange rate on cash and cash equivalents | (7,553) | 43,014 | (83,945) |
Net increase (decrease) in cash and cash equivalents | 192,677 | 195,830 | (235,899) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 949,327 | 753,497 | 989,396 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ 1,142,004 | $ 949,327 | $ 753,497 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands | Share Capital [Member] | Treasury Shares [Member] | Currency Translation Reserve [Member] | Cash Flow Hedging Reserve [Member] | Actuarial Gains Or Losses On Defined Benefit Plans Reserve [Member] | Shares Based Payments Reserve [Member] | Other Sundry Reserves [Member] | Total Other Reserve [Member] | Retained Earnings [Member] | Parent's Ownership Interest [Member] | Non-controlling interests [member] | Total |
Beginning balance at Dec. 31, 2014 | $ 2,545,705 | $ (178) | $ (1,193,871) | $ (151,340) | $ 29,642 | $ 2,635,748 | $ 1,320,179 | $ 536,190 | $ 4,401,896 | $ 101,799 | $ 4,503,695 | |
Changes in Equity [Roll Forward] | ||||||||||||
Total increase (decrease ) in equity Comprehensive income Gain (losses ) | (219,274) | (219,274) | 40,542 | (178,732) | ||||||||
Other comprehensive income | (1,382,170) | 60,830 | (10,717) | (1,332,057) | (1,332,057) | (28,818) | (1,360,875) | |||||
Total comprehensive income | (1,382,170) | 60,830 | (10,717) | (1,332,057) | (219,274) | (1,551,331) | 11,724 | (1,539,607) | ||||
Transactions with shareholders | ||||||||||||
Increase (decrease ) through transfers and other changes , equity | 6,005 | (1,069) | 4,936 | 1,034 | 5,970 | (32,510) | (26,540) | |||||
Total transactions with shareholders | 6,005 | (1,069) | 4,936 | 1,034 | 5,970 | (32,510) | (26,540) | |||||
End balance at Dec. 31, 2015 | 2,545,705 | (178) | (2,576,041) | (90,510) | (10,717) | 35,647 | 2,634,679 | (6,942) | 317,950 | 2,856,535 | 81,013 | 2,937,548 |
Changes in Equity [Roll Forward] | ||||||||||||
Total increase (decrease ) in equity Comprehensive income Gain (losses ) | 69,220 | 69,220 | 41,450 | 110,670 | ||||||||
Other comprehensive income | 489,486 | 92,016 | (2,183) | 579,319 | 579,319 | 5,554 | 584,873 | |||||
Total comprehensive income | 489,486 | 92,016 | (2,183) | 579,319 | 69,220 | 648,539 | 47,004 | 695,543 | ||||
Transactions with shareholders | ||||||||||||
Equity issue | 608,496 | 608,496 | 608,496 | |||||||||
Dividends | (20,766) | (20,766) | (20,766) | |||||||||
Increase (decrease ) through transfers and other changes , equity | (4,637) | 2,891 | 5,602 | 8,493 | 3,856 | (39,373) | (35,517) | |||||
Total transactions with shareholders | 603,859 | 2,891 | 5,602 | 8,493 | (20,766) | 591,586 | (39,373) | 552,213 | ||||
End balance at Dec. 31, 2016 | 3,149,564 | (178) | (2,086,555) | 1,506 | (12,900) | 38,538 | 2,640,281 | 580,870 | 366,404 | 4,096,660 | 88,644 | 4,185,304 |
Changes in Equity [Roll Forward] | ||||||||||||
Total increase (decrease ) in equity Comprehensive income Gain (losses ) | 155,304 | 155,304 | 45,410 | 200,714 | ||||||||
Other comprehensive income | (45,036) | 16,634 | 1,974 | (26,428) | (26,428) | (2,515) | (28,943) | |||||
Total comprehensive income | (45,036) | 16,634 | 1,974 | (26,428) | 155,304 | 128,876 | 42,895 | 171,771 | ||||
Transactions with shareholders | ||||||||||||
Dividends | (46,590) | (46,590) | (46,590) | |||||||||
Increase (decrease ) through transfers and other changes , equity | (3,299) | 943 | (501) | 442 | (2,857) | (40,392) | (43,249) | |||||
Total transactions with shareholders | (3,299) | 943 | (501) | 442 | (46,590) | (49,447) | (40,392) | (89,839) | ||||
End balance at Dec. 31, 2017 | $ 3,146,265 | $ (178) | $ (2,131,591) | $ 18,140 | $ (10,926) | $ 39,481 | $ 2,639,780 | $ 554,884 | $ 475,118 | $ 4,176,089 | $ 91,147 | $ 4,267,236 |
GENERAL INFORMATION
GENERAL INFORMATION | 12 Months Ended |
Dec. 31, 2017 | |
General Information | |
GENERAL INFORMATION | NOTE 1 - GENERAL INFORMATION LATAM Airlines Group S.A. (the “Company”) is a public company registered with the Commission for the Financial Market (1), under No.306, whose shares are quoted in Chile on the Stock Brokers - Stock Exchange (Valparaíso) - the Chilean Electronic Stock Exchange and the Santiago Stock Exchange; it is also quoted in the United States of America on the New York Stock Exchange (“NYSE”) in New York in the form of American Depositary Receipts (“ADRs”). Its principal business is passenger and cargo air transportation, both in the domestic markets of Chile, Peru, Argentina, Colombia, Ecuador and Brazil and in a developed series of regional and international routes in America, Europe and Oceania. These businesses are developed directly or by their subsidiaries in different countries. In addition, the Company has subsidiaries operating in the freight business in Mexico, Brazil and Colombia. The Company is located in Santiago, Chile, at Avenida Américo Vespucio Sur No. 901, commune of Renca. Corporate Governance practices of the Company are set in accordance with Securities Market Law the Corporations Law and its regulations, and the regulations of the Commission for the Financial Market (1) and the laws and regulations of the United States of America and the U.S. Securities and Exchange Commission (“SEC”) of that country, with respect to the issuance of ADRs (2). At December 31, 2017, the Company's capital stock is represented by 608,374,525 shares, all common shares, without par value, which is divided into: (a) the 606,407,693 subscribed and paid shares; and (b) 1,966,832 shares pending of subscription and payment, of which: (i) 1,500,000 shares are allocated to compensation stock option plan; And (ii) 466,832 correspond to the balance of shares pending of placement of the last capital increase approved at the extraordinary meeting of shareholders of August 18, 2016. (1) On February 23, 2017 the Law No. 21,000 was published in the Official Journal, creating the new Commission for the Financial Market (CMF), a collegiate and technical entity that replaced the Superintendency of Securities and Insurance (SVS). (2) As reported in due course, during 2016, LATAM discontinued its Brazilian receipts program - BDR level III, currently LATAM not counting with securities in the Brazilian market. The Board of the Company is composed of nine members who are elected every two years by the ordinary shareholders ' The majority shareholder of the Company is the Cueto Group, which through Costa Verde Aeronáutica S.A., Costa Verde Aeronáutica SpA, Costa Verde Aeronáutica Tres SpA, Inversiones Nueva Costa Verde Aeronáutica Ltda., Inversiones Priesca Dos y Cía. Ltda., Inversiones Caravia Dos y Cía. Ltda., Inversiones El Fano Dos y Cía. Ltda., Inversiones La Espasa Dos S.A. and Inversiones La Espasa Dos y Cía. Ltda., owns 27.91% of the shares issued by the Company, and therefore is the controlling shareholder of the Company in accordance with the provisions of the letter b) of Article 97 and Article 99 of the Securities Market Law, given that there is a decisive influence on its administration. As of December 31, 2017, the Company had a total of 1,485 registered shareholders. At that date approximately 4.14% of the Company’s share capital was in the form of ADRs. For the period ended December 31, 2017, the Company had an average of 43,593 employees, ending this period with a total of 43,095 employees, spread over 6,922 Administrative employees, 4,742 in Maintenance, 15,126 in Operations, 9,016 in Cabin Crew, 3,957 in Controls Crew, and 3,332 in Sales. The main subsidiaries included in these consolidated financial statements are as follows: a) Participation rate As December 31, 2017 As December 31, 2016 As December 31, 2015 Country Functional Tax No. Company of origin Currency Direct Indirect Total Direct Indirect Total Direct Indirect Total % % % % % % % % % 96.518.860-6 Latam Travel Chile S.A. and Subsidary (*) Chile US$ 99.9900 0.0100 100.0000 99.9900 0.0100 100.0000 99.9900 0.0100 100.0000 96.763.900-1 Inmobiliaria Aeronáutica S.A. Chile US$ 0.0000 0.0000 0.0000 99.0100 0.9900 100.0000 99.0100 0.9900 100.0000 96.969.680-0 Lan Pax Group S.A. and Subsidiaries Chile US$ 99.8361 0.1639 100.0000 99.8361 0.1639 100.0000 99.8361 0.1639 100.0000 Foreign Lan Perú S.A. Peru US$ 49.0000 21.0000 70.0000 49.0000 21.0000 70.0000 49.0000 21.0000 70.0000 Foreign Lan Chile Investments Limited and Subsidiary Cayman Ins land US$ 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 99.9900 0.0100 100.0000 93.383.000-4 Lan Cargo S.A. Chile US$ 99.8939 0.0041 99.8980 99.8939 0.0041 99.8980 99.8939 0.0041 99.8980 Foreign Connecta Corporation U.S.A. US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 Foreign Prime Airport Services Inc. and Subsidary U.S.A. US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 96.951.280-7 Transporte Aéreo S.A. Chile US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 Foreign Aircraft International Leasing Limited U.S.A. US$ 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 100.0000 100.0000 96.631.520-2 Fast Air Almacenes de Carga S.A. Chile CLP 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 96.631.410-9 Ladeco Cargo S.A. Chile CLP 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 100.0000 100.0000 Foreign Laser Cargo S.R.L. Argentina ARS 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 Foreign Lan Cargo Overseas Limited and Subsidiaries Bahamas US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 96.969.690-8 Lan Cargo Inversiones S.A. and Subsidary Chile US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 96.575.810-0 Inversiones Lan S.A. and Subsidiaries Chile US$ 99.7100 0.2900 100.0000 99.7100 0.2900 100.0000 99.7100 0.2900 100.0000 96.847.880-K Technical Trainning LATAM S.A. Chile CLP 99.8300 0.1700 100.0000 99.8300 0.1700 100.0000 99.8300 0.1700 100.0000 Foreign Latam Finance Limited Cayman Ins land US$ 100.0000 0.0000 100.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Foreign Peuco Finance Limited Cayman Ins land US$ 100.0000 0.0000 100.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Foreign Profesional Airline Services INC. U.S.A. US$ 100.0000 0.0000 100.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Foreign TAM S.A. and Subsidiaries (**) Brazil BRL 63.0901 36.9099 100.0000 63.0901 36.9099 100.0000 63.0901 36.9099 100.0000 (*) In June 2016, Lantours Division de Servicios Terrestres S.A. changes its name to Latam Travel Chile S.A. (**) As of December 31, 2017, indirect ownership participation on TAM S.A and subsidiaries is from Holdco I S.A., LATAM is entitled to 99,9983% of the economic rights and 49% of the rights politicians product of provisional measure No. 714 of the Brazilian Government implemented during 2016 which allows foreign capital to have up to 49% of the property. Thus, since April 2016, LATAM Airlines Group S.A. owns 901 voting shares of Holdco I S.A., equivalent to 49% of the total shares with voting rights of said company and TEP Chile S.A. owns 938 voting shares of Holdco I S.A., equivalent to 51% of the total voting shares of that company. b) Financial Information Statement of financial position Net Income For the periods ended December 31, As of December 31, 2017 As of December 31, 2016 As of December 31, 2015 2017 2016 2015 Tax No. Company Assets Liabilities Equity Assets Liabilities Equity Assets Liabilities Equity Gain/(loss) ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ 96.518.860-6 Latam TravelChile S.A. and Subsidary (*) 6,771 2,197 4,574 5,468 2,727 2,741 5,613 5,522 91 1,833 2,650 2,341 96.763.900-1 Inmobiliaria Aeronáutica S.A. - - - 36,756 8,843 27,913 39,302 14,832 24,470 - 3,443 1,404 96.969.680-0 Lan PaxGroup S.A. and Subsidiaries (**) 499,345 1,101,548 (596,406 ) 475,763 1,045,761 (561,472 ) 519,663 1,049,232 (521,907 ) (35,943 ) (36,331 ) (35,187 ) Foreign Lan Perú S.A. 315,607 303,204 12,403 306,111 294,912 11,199 255,691 240,938 14,753 1,205 (2,164 ) 5,068 Foreign Lan Chile Investments Limited and Subsidiary (**) - - - - - - 2,015 13 2,002 - 23 (13 ) 93.383.000-4 Lan Cargo S.A. 584,169 371,934 212,235 480,908 239,728 241,180 483,033 217,037 265,966 (30,220 ) (24,813 ) (74,408 ) Foreign Connecta Corporation 38,735 17,248 21,487 31,981 23,525 8,456 37,070 38,298 (1,228 ) 13,013 9,684 194 Foreign Prime Airport Services Inc. and Subsidary (**) 12,671 15,722 (3,051 ) 7,385 11,294 (3,909 ) 6,683 11,180 (4,497 ) 857 588 279 96.951.280-7 Transporte Aéreo S.A. 324,498 104,357 220,141 340,940 124,805 216,135 331,117 122,666 208,451 2,172 8,206 5,878 Foreign Aircraft International Leasing Limited - - - - 4 (4 ) - 9 (4 ) 96.631.520-2 Fast Air Almacenes de Carga S.A. 12,931 4,863 8,068 10,023 3,645 6,378 8,985 4,641 4,344 939 1,717 1,811 Foreign Laser Cargo S.R.L. 18 27 (9 ) 21 32 (11 ) 27 39 (12 ) 2 (1 ) 69 Foreign Lan Cargo Overseas Limited and Subsidiaries (**) 66,039 42,271 18,808 54,092 35,178 15,737 62,406 43,759 15,563 3,438 176 3,344 96.969.690-8 Lan Cargo Inversiones S.A. and Subsidary (**) 144,884 156,005 (10,112 ) 80,644 95,747 (13,506 ) 54,179 68,220 (12,601 ) 3,389 (910 ) 113 96.575.810-0 Inversiones Lan S.A. and Subsidiaries (**) 11,681 5,201 6,377 10,971 6,452 4,452 16,512 14,676 1,828 1,561 2,549 2,772 96.847.880-K Technical Trainning LATAM S.A. 1,967 367 1,600 1,745 284 1,461 1,527 266 1,261 109 73 (72 ) Foreign Latam Finance Limited 678,289 708,306 (30,017 ) - - - - - - (30,017 ) - - Foreign Peuco Finance Limited 608,191 608,191 - - - - - - - - - - Foreign Profesional Airline Services INC. 3,703 3,438 265 - - - - - - 294 - - Foreign TAM S.A. and Subsidiaries (**) 4,490,714 3,555,423 856,829 5,287,286 4,710,308 495,562 4,969,553 4,199,223 423,190 160,582 2,107 (183,581 ) (*) In June 2016, Lantours Division of Terrestrial Services S.A. changed its name to Latam Travel Chile S.A. (**) The Equity reported corresponds to Equity attributable to owners of the parent, it does not include Non-controlling interest. Additionally, we have proceeded to consolidate the following special purpose entities: 1. Chercán Leasing Limited created to finance the pre-delivery payments on aircraft; 2. Guanay Finance Limited created to issue a bond collateralized with future credit card receivables; 3. Private investment funds and 4. Avoceta Leasing Limited created to finance the pre-delivery payments on aircraft. These companies have been consolidated as required by IFRS 10. All controlled entities have been included in the consolidation. Changes in the scope of consolidation between January 1, 2016 and December 31, 2017, are detailed below: (1) Incorporation or acquisition of companies - On January 2016, the increase in the share capital and statutory amendment for the purpose of creating a new class of shares of Lan Argentina SA, a subsidiary of Lan Pax Group SA, for a total amount was registered in the Public Registry of Commerce. of 90,000,000 nominated "C" class shares not endorsable and without the right to vote. Lan Pax Group S.A. participated in this capital increase, modifying its ownership in 4.87%, as a result of which, the indirect participation of LATAM Airlines Group S.A. increases to 99.8656%. - On April 1, 2016, Multiplus Corretora de Seguros Ltda. was created, the ownership of which corresponds to 99.99% of Multiplus S.A. direct subsidiary of TAM S.A. - On September 2016, Latam Finance Limited, a wholly-owned subsidiary of LATAM Airlines Group S.A., was created. Company operation started on April 2017. - On November 2015, the company Peuco Finance Limited was created, whose ownership corresponds 100% to LATAM Airlines Group S.A. The operation of this company began in December 2017. - Prismah Fidelidade Ltda. is constituted on June 29, 2012, whose ownership corresponds 99.99% to Multiplus S.A. direct subsidiary of TAM S.A. The operation of this company began in December 2017. - On December 11, 2017, a capital increase was made in TAM S.A. for a total of MR $ 697,935 (ThUS $ 210,000), with no new shares issues. This capital increase was paid a whole 100% by the shareholder LATAM Airlines Goup S.A. The foregoing, in accordance with the TAM's shareholder Holdco I S.A., who renounces to any right arisinged from this increase. - As of December 31, 2017, Inversiones LAN S.A., subsidiary of LATAM Airlines Group S.A., acquired 4,951 shares of Aerovías de Integración Regional Aires S.A. a non-controlling shareholder, equivalent to 0.09498%, consequently, the indirect participation of LATAM Airlines Group S.A. increases to 99.19414% (2) Dissolution of companies - During the period 2016, Lan Chile Investments Limited, a subsidiary of LATAM Airlines Group S.A.; and Aircraft International Leasing Limited, a subsidiary of Lan Cargo S.A., were dissolved. - On November 20, 2017 LATAM Airlines Group S.A. acquired 100% of the shares of Inmobiliaria Aeronáutica S.A., a merger and subsequent dissolution of said company was carried out. (3) Sale of companies. - On May 5, 2017 Lan Pax Group S.A. and Inversiones Lan S.A., both subsidiaries of LATAM Airlines Group S.A., sold to Talma Servicios Aeroportuarios S.A. and Inversiones Talma S.A.C. 100% of the capital stock of Rampas Andes Airport Services S.A. The sale value of Rampas Andes Airport Services S.A. was ThUS $ 8,624. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following describes the principal accounting policies adopted in the preparation of these consolidated financial statements. 2.1. Basis of Preparation The consolidated financial statements of LATAM Airlines Group S.A. for the period ended December 31, 2017, have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (“IASB”) incorporated therein and with the interpretations issued by the International Financial Reporting Standards Interpretations Committee (IFRIC). The consolidated financial statements have been prepared under the historic-cost criterion, although modified by the valuation at fair value of certain financial instruments. The preparation of the consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires management to use its judgment in applying the Company’s accounting policies. Note 4 shows the areas that imply a greater degree of judgment or complexity or the areas where the assumptions and estimates are significant to the consolidated financial statements. During 2016 the Company recorded out of period adjustments resulting in an aggregate net decrease of US$ 18.2 million to "Net income (loss) for the period" for the year ended December 31, 2016. These adjustments include US$ 39.5 million (loss) resulting from an account reconciliation process initi a In order to facilitate comparison, some minor reclassifications have been made to the consolidated financial statements for the previous year. (a) Accounting pronouncements with implementation effective from January 1, 2017: (i) Standards and amendments Date of issue Mandatory Application: Annual periods beginning on or after Amendment to IAS 7: Statement of cash flow January 2016 01/01/2017 Amendment to IAS 12: Income tax January 2016 01/01/2017 (ii) Improvements Improvements to International Financial Reporting Standards (2014-2016 cycle): IFRS 12 Disclosure of interests in other entities December 2016 01/01/2017 The application of standards, amendments, interpretations and improvements had no material impact on the consolidated financial statements of the Company. (b) Accounting pronouncements not yet in force for financial years beginning on January 1, 2017 and which has not been effected early adoption (i) Standards and amendments Date of issue Mandatory Application: Annual periods beginning on or after IFRS 9: Financial instruments. December 2009 01/01/2018 Amendment to IFRS 9: Financial instruments. November 2013 01/01/2018 IFRS 15: Revenue from contracts with customers (1). May 2014 01/01/2018 Amendment to IFRS 15: Revenue from contracts with customers. April 2016 01/01/2018 Mandatory Application: (i) Standards and amendments Date of issue Annual periods Amendment to IFRS 2: Share-based payments June 2016 01/01/2018 Amendment to IFRS 4: Insurance contracts. September 2016 01/01/2018 Amendment to IAS 40: Investment property December 2016 01/01/2018 IFRS 16: Leases (2). January 2016 01/01/2019 Amendment to IFRS 9: Financial Instruments October 2017 01/01/2019 Amendment to IAS 28: Investments in associates and joint ventures October 2017 01/01/2019 IFRS 17: Insurance contracts May 2017 01/01/2021 Amendment to IFRS 10: Consolidated financial statements and IAS 28 Investments in associates and joint ventures. September 2014 To be determined (ii) Improvements Improvements to International Financial Reporting Standards. (cycle 2014-2016) IFRS 1: First-time adoption of international financial reporting standards and IAS 28 investments in associates and joint ventures. December 2016 01/01/2018 Improvements to International Financial Reporting Standards. (cycle 2015-2017) IFRS 3: Business combinations, IAS 12: Income tax, IFRS 11: Joint arrangements and IAS 23: Borrowing costs December 2017 01/01/2019 (iii) Interpretations IFRIC 22: Foreign currency transactions and advance consideration December 2016 01/01/2018 IFRIC 23: Uncertain tax positions June 2017 01/01/2019 The Company’s management believes that the adoption of the standards, amendments and interpretations described above but not yet effective would not have a significant impact on the Company’s consolidated financial statements in the year of their first application, except for IFRS 15 and IFRS 16: (1) IFRS 15 Revenue from Contracts with Customers supersedes actual standard for revenue recognition that actually uses the Company, as IAS 18 Revenue and IFRIC 13 Customer Loyalty Programmes. The core principle of IFRS 15 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This standards supersedes IFRS 15 supersedes, IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers; and SIC-31 Revenue - Barter Transactions Involving Advertising Services. The Company evaluated the possible adoption impacts that this new standard will have on the consolidated financial statements and has identified changes in: i) the recognition of the income associated with the fines for changes, which were previously recognized at the time of the sale and now will be considered as a modification of the initial transport contract and therefore the recognition must be deferred until the rendering of the service; ii) the moment of recognition of the income from the sale of some services or products, where the Company concluded that it acted as principal, and therefore the revenues must be deferred until the service is rendered; and iii) the presentation of the income associated with the sale of products, where the Company concluded that it acted as agent and therefore the income must be presented net of the associated costs. As of December 31, 2017, the effect of the changes indicated above As of December 31, 2017, the effect of the changes indicated above will not have a significant impact on the Company’s consolidated financial statements in the year of its first adoption. (2) The IFRS 16 Leases add important changes in the accounting for lessees by introducing a similar treatment to financial leases for all operating leases with a term of more than 12 months. This mean, in general terms, that an asset should be recognized for the right to use the underlying leased assets and a liability representing its present value of payments associate to the agreement. Monthly leases payments will be replace by the asset depreciation and a financial cost in the income statement. We are evaluating the impact that the adoption of the new lease rule will have on the consolidated financial statements. Currently, we believe that the adoption of this new standard will have a significant impact on the consolidated statement of financial position due to the recording of an asset for right of use and a liability, corresponding to the recording of the leases that are currently registered as operating leases. LATAM Airlines Group S.A. and subsidiaries are still assessing this standard to determinate the effect on their Financial Statements, covenants and other financial indicators. 2.2. Basis of Consolidation (a) Subsidiaries Subsidiaries are all the entities (including special-purpose entities) over which the Company has the power to control the financial and operating policies, which are generally accompanied by a holding of more than half of the voting rights. In evaluating whether the Company controls another entity, the existence and effect of potential voting rights that are currently exercisable or convertible at the date of the consolidated financial statements are considered. The subsidiaries are consolidated from the date on which control is passed to the Company and they are excluded from the consolidation on the date they cease to be so controlled. The results and flows are incorporated from the date of acquisition. Balances, transactions and unrealized gains on transactions between the Company’s entities are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment loss of the asset transferred. When necessary in order to ensure uniformity with the policies adopted by the Company, the accounting policies of the subsidiaries are modified. To account for and identify the financial information revealed when carrying out a business combination, such as the acquisition of an entity by the Company, is apply the acquisition method provided for in IFRS 3: Business combination. (b) Transactions with non-controlling interests The Company applies the policy of considering transactions with non-controlling interests, when not related to loss of control, as equity transactions without an effect on income. (c) Sales of subsidiaries When a subsidiary is sold and a percentage of participation is not retained, the Company derecognizes assets and liabilities of the subsidiary, the non-controlling and other components of equity related to the subsidiary. Any gain or loss resulting from the loss of control is recognized in the consolidated income statement in Other gains (losses). If LATAM Airlines Group S.A. and Subsidiaries retain an ownership of participation in the sold subsidiary, and does not represent control, this is recognized at fair value on the date that control is lost, the amounts previously recognized in Other comprehensive income are accounted as if the Company had disposed directly from the assets and related liabilities, which can cause these amounts are reclassified to profit or loss. The percentage retained valued at fair value is subsequently accounted using the equity method. (d) Investees or associates Investees or associates are all entities over which LATAM Airlines Group S.A. and Subsidiaries have significant influence but have no control. This usually arises from holding between 20% and 50% of the voting rights. Investments in associates are booked using the equity method and are initially recognized at their cost. 2.3. Foreign currency transactions (a) Presentation and functional currencies The items included in the financial statements of each of the entities of LATAM Airlines Group S.A. and Subsidiaries are valued using the currency of the main economic environment in which the entity operates (the functional currency). The functional currency of LATAM Airlines Group S.A. is the United States dollar which is also the presentation currency of the consolidated financial statements of LATAM Airlines Group S.A. and Subsidiaries. (b) Transactions and balances Foreign currency transactions are translated to the functional currency using the exchange rates on the transaction dates. Foreign currency gains and losses resulting from the liquidation of these transactions and from the translation at the closing exchange rates of the monetary assets and liabilities denominated in foreign currency are shown in the consolidated statement of income by function except when deferred in Other comprehensive income as qualifying cash flow hedges. (c) Group entities The results and financial position of all the Group entities (none of which has the currency of a hyper-inflationary economy) that have a functional currency other than the presentation currency are translated to the presentation currency as follows: (i) Assets and liabilities of each consolidated statement of financial position presented are translated at the closing exchange rate on the consolidated statement of financial position date; (ii) The revenues and expenses of each income statement account are translated at the exchange rates prevailing on the transaction dates, and (iii) All the resultant exchange differences by conversion are shown as a separate component in other comprehensive income. The exchange rates used correspond to those fixed in the country where the subsidiary is located, whose functional currency is different to the U.S. dollar. Adjustments to the Goodwill and fair value arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and are translated at the closing exchange rate or period informed. 2.4. Property, plant and equipment The land of LATAM Airlines Group S.A. and Subsidiaries, are recognized at cost less any accumulated impairment loss. The rest of the Properties, plants and equipment are recorded, both in their initial recognition and in their subsequent measurement, at their historical cost less the corresponding depreciation and any loss due to deterioration. The amounts of advances paid to the aircraft manufacturers are activated by the Company under Construction in progress until they are received. Subsequent costs (replacement of components, improvements, extensions, etc.) are included in the value of the initial asset or are recognized as a separate asset, only when it is probable that the future economic benefits associated with the elements of property, plant and equipment, they will flow to the Company and the cost of the item can be determined reliably. The value of the replaced component is written off. The rest of the repairs and maintenance are charged to the result of the year in which they are incurred. The depreciation of the properties, plants and equipment is calculated using the linear method over their estimated technical useful lives; except in the case of certain technical components which are depreciated on the basis of cycles and hours flown. The residual value and the useful life of the assets are reviewed and adjusted, if necessary, once a year. When the value of an asset exceeds its estimated recoverable amount, its value is immediately reduced to its recoverable amount (Note 2.8). Losses and gains from the sale of property, plant and equipment are calculated by comparing the consideration with the book value and are included in the consolidated statement of income. 2.5. Intangible assets other than goodwill (a) Airport slots and Loyalty program Airport slots and the Coalition and Loyalty program are intangible assets of indefinite useful life and are subject to impairment tests annually as an integral part of each CGU, in accordance with the premises that are applicable, included as follows: Airport slots – Air transport CGU Loyalty program – Coalition and loyalty program Multiplus CGU (See Note 16) The airport slots correspond to an administrative authorization to carry out operations of arrival and departure of aircraft at a specific airport, within a specified period. The Loyalty program corresponds to the system of accumulation and redemption of points that has developed Multiplus S.A., subsidiary of TAM S.A. The Brands, airport Slots and Loyalty program were recognized in fair values determined in accordance with IFRS 3, as a consequence of the business combination with TAM and Subsidiaries. (b) Computer software Licenses for computer software acquired are capitalized on the basis of the costs incurred in acquiring them and preparing them for using the specific software. These costs are amortized over their estimated useful lives, for which the Company has been defined useful lives between 3 and 10 years. Expenses related to the development or maintenance of computer software which do not qualify for capitalization, are shown as an expense when incurred. The personnel costs and others costs directly related to the production of unique and identifiable computer software controlled by the Company, are shown as intangible Assets others than Goodwill when they have met all the criteria for capitalization. (c) Brands The Brands were acquired in the business combination with TAM S.A. and Subsidiaries and recognized at fair value under IFRS. During the year 2016, the estimated useful life of the brands change from an indefinite useful life to a five-year period, the period in which the value of the brands will be amortized (See Note 15). 2.6. Goodwill Goodwill represents the excess of acquisition cost over the fair value of the Company’s participation in the net identifiable assets of the subsidiary or associate on the acquisition date. Goodwill related to acquisition of subsidiaries is not amortized but tested for impairment annually or each time that there is evidence of impairment. Gains and losses on the sale of an entity include the book amount of the goodwill related to the entity sold. 2.7. Borrowing costs Interest costs incurred for the construction of any qualified asset are capitalized over the time necessary for completing and preparing the asset for its intended use. Other interest costs are recognized in the consolidated income statement when they are accrued. 2.8. Losses for impairment of non-financial assets Intangible assets that have an indefinite useful life, and developing IT projects, are not subject to amortization and are subject to annual testing for impairment. Assets subject to amortization are subjected to impairment tests whenever any event or change in circumstances indicates that the book value of the assets may not be recoverable. An impairment loss is recorded when the book value is greater than the recoverable amount. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In evaluating the impairment, the assets are grouped at the lowest level for which cash flows are separately identifiable (CGUs). Non-financial assets other than goodwill that have suffered an impairment loss are reviewed if there are indicators of reverse losses at each reporting date. 2.9. Financial assets The Company classifies its financial instruments in the following categories: financial assets at fair value through profit and loss and loans and receivables. The classification depends on the purpose for which the financial instruments were acquired. Management determines the classification of its financial instruments at the time of initial recognition, which occurs on the date of transaction. (a) Financial assets at fair value through profit and loss Financial assets at fair value through profit and loss are financial instruments held for trading and those which have been designated at fair value through profit or loss in their initial classification. A financial asset is classified in this category if acquired mainly for the purpose of being sold in the near future or when these assets are managed and measured using fair value. Derivatives are also classified as held for trading unless they are designated as hedges. The financial assets in this category and have been designated initial recognition through profit or loss, are classified as Cash and cash equivalents and Other current financial assets and those designated as instruments held for trading are classified as Other current and non-current financial assets. (b) Loans and receivables Loans and receivables are non-derivative financial instruments with fixed or determinable payments not traded on an active market. These items are classified in current assets except for those with maturity over 12 months from the date of the consolidated statement of financial position, which are classified as non-current assets. Loans and receivables are included in trade and other accounts receivable in the consolidated statement of financial position (Note 2.12). The regular purchases and sales of financial assets are recognized on the trade date – the date on which the Group commits to purchase or sell the asset. Investments are initially recognized at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. Financial assets carried at fair value through profit or losses are initially recognized at fair value, and transaction costs are expensed in the income statement. Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred and the Group has transferred substantially all risks and rewards of ownership. The financial assets at fair value through profit or loss are subsequently carried at fair value. Loans and receivables are subsequently carried at amortized cost using the effective interest rate method. At the date of each consolidated statement of financial position, the Company assesses if there is objective evidence that a financial asset or group of financial assets may have suffered an impairment loss. 2.10. Derivative financial instruments and hedging activities Derivatives are booked initially at fair value on the date the derivative contracts are signed and later they continue to be valued at their fair value. The method for booking the resultant loss or gain depends on whether the derivative has been designated as a hedging instrument and if so, the nature of the item hedged. The Company designates certain derivatives as: (a) Hedge of the fair value of recognized assets (fair value hedge); (b) Hedge of an identified risk associated with a recognized liability or an expected highly- Probable transaction (cash-flow hedge), or (c) Derivatives that do not qualify for hedge accounting. The Company documents, at the inception of each transaction, the relationship between the hedging instrument and the hedged item, as well as its objectives for managing risk and the strategy for carrying out various hedging transactions. The Company also documents its assessment, both at the beginning and on an ongoing basis, as to whether the derivatives used in the hedging transactions are highly effective in offsetting the changes in the fair value or cash flows of the items being hedged. The total fair value of the hedging derivatives is booked as Other non-current financial asset or liability if the remaining maturity of the item hedged is over 12 months, and as an other current financial asset or liability if the remaining term of the item hedged is less than 12 months. Derivatives not booked as hedges are classified as Other financial assets or liabilities. (a) Fair value hedges Changes in the fair value of designated derivatives that qualify as fair value hedges are shown in the consolidated statement of income, together with any change in the fair value of the asset or liability hedged that is attributable to the risk being hedged. (b) Cash flow hedges The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is shown in the statement of other comprehensive income. The loss or gain relating to the ineffective portion is recognized immediately in the consolidated statement of income under other gains (losses). Amounts accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss. In case of variable interest-rate hedges, the amounts recognized in the statement of other comprehensive income are reclassified to results within financial costs at the same time the associated debts accrue interest. For fuel price hedges, the amounts shown in the statement of other comprehensive income are reclassified to results under the line item Cost of sales to the extent that the fuel subject to the hedge is used. For foreign currency hedges, the amounts recognized in the statement of other comprehensive income are reclassified to income as deferred revenue resulting from the use of points, are recognized as Income. When hedging instruments mature or are sold or when they do not meet the requirements to be accounted for as hedges, any gain or loss accumulated in the statement of Other comprehensive income until that moment remains in the statement of other comprehensive income and is reclassified to the consolidated statement of income when the hedged transaction is finally recognized. When it is expected that the hedged transaction is no longer going to occur, the gain or loss accumulated in the statement of other comprehensive income is taken immediately to the consolidated statement of income as “Other gains (losses)”. (c) Derivatives not booked as a hedge The changes in fair value of any derivative instrument that is not booked as a hedge are shown immediately in the consolidated statement of income in “Other gains (losses)”. 2.11. Inventories Inventories, detailed in Note 10, are shown at the lower of cost and their net realizable value. The cost is determined on the basis of the weighted average cost method (WAC). The net realizable value is the estimated selling price in the normal course of business, less estimated costs necessary to make the sale. 2.12. Trade and other accounts receivable Trade accounts receivable are shown initially at their fair value and later at their amortized cost in accordance with the effective interest rate method, less the allowance for impairment losses. An allowance for impairment loss of trade accounts receivable is made when there is objective evidence that the Company will not be able to recover all the amounts due according to the original terms of the accounts receivable. The existence of significant financial difficulties on the part of the debtor, the probability that the debtor is entering bankruptcy or financial reorganization and the default or delay in making payments are considered indicators that the receivable has been impaired. The amount of the provision is the difference between the book value of the assets and the present value of the estimated future cash flows, discounted at the original effective interest rate. The book value of the asset is reduced by the amount of the allowance and the loss is shown in the consolidated statement of income in Cost of sales. When an account receivable is written off, it is charged to the allowance account for accounts receivable. 2.13. Cash and cash equivalents Cash and cash equivalents include cash and bank balances, time deposits in financial institutions, and other short-term and highly liquid investments. 2.14. Capital The common shares are classified as net equity. Incremental costs directly attributable to the issuance of new shares or options are shown in net equity as a deduction from the proceeds received from the placement of shares. 2.15. Trade and other accounts payables Trade payables and other accounts payable are initially recognized at fair value and subsequently at amortized cost. 2.16. Interest-bearing loans Financial liabilities are shown initially at their fair value, net of the costs incurred in the transaction. Later, these financial liabilities are valued at their amortized cost; any difference between the proceeds obtained (net of the necessary arrangement| costs) and the repayment value, is shown in the consolidated statement of income during the term of the debt, according to the effective interest rate method. Financial liabilities are classified in current and non-current liabilities according to the contractual payment dates of the nominal principal. 2.17. Current and deferred taxes The expense by current tax is comprised of income and deferred taxes. The charge for current tax is calculated based on tax laws in force on the date of statement of financial position, in the countries in which the subsidiaries and associates operate and generate taxable income. Deferred taxes are calculated using the liability method, on the temporary differences arising between the tax bases of assets and liabilities and their book values. However, if the temporary differences arise from the initial recognition of a liability or an asset in a transaction different from a business combination that at the time of the transaction does not affect the accounting result or the tax gain or loss, they are not booked. The deferred tax is determined using the tax rates (and laws) that have been enacted or substantially enacted at the consolidated financial statements close, and are expected to apply when the related deferred tax asset is realized or the deferred tax liability discharged. Deferred tax assets are recognized when it is probable that there will be sufficient future tax earnings with which to compensate the temporary differences. The tax (current and deferred) is recognized in income by function, unless it relates to an item recognized in other comprehensive income, directly in equity or from business combination. In that case the tax is also recognized in other comprehensive income, directly in income by function or goodwill, respectively. 2.18. Employee benefits (a) Personnel vacations The Company recognizes the expense for personnel vacations on an accrual basis. (b) Share-based compensation The compensation plans implemented based on the shares of the Company are recognized in the consolidated financial statements in accordance with IFRS 2: Share-based payments, for plans based on the granting of options, the effect of fair value is recorded in equity with a charge to remuneration in a linear manner between the date of grant of said options and the date on which they become irrevocable, for the plans considered as cash settled award the fair value, updated as of the closing date of each reporting period, is recorded as a liability with charge to remuneration. (c) Post-employment and other long-term benefits Provisions are made for these obligations by applying the method of the projected unit credit method, and taking into account estimates of future permanence, mortality rates and future wage increases determined on the basis of actuarial calculations. The discount rates are determined by reference to market interest-rate curves. Actuarial gains or losses are shown in other comprehensive income. (d) Incentives The Company has an annual incentives plan for its personnel for compliance with objectives and individual contribution to the results. The incentives eventually granted consist of a given number or portion of monthly remuneration and the provision is made on the basis of the amount estimated for distribution. 2.19. Provisions Provisions are recognized when: (i) The Company has a present legal or implicit obligation as a result of past events; (ii) It is probable that payment is going to be necessary to settle an obligation; and (iii) The amount has been reliably estimated. 2.20. Revenue recognition Revenues include the fair value of the proceeds received or to be received on sales of goods and rendering services in the ordinary course of the Company’s business. Revenues are shown net of refunds, rebates and discounts. (a) Rendering of services (i) Passenger and cargo transport The Company shows revenue from the transportation of passengers and cargo once the service has been provided. Consistent with the foregoing, the Company presents the deferred revenues, generated by anticipated sale of flight tickets and freight services, in heading other non - financial liabilities in the Consolidated Statement of Financial Position. (ii) Frequent flyer program The Company currently has a frequent flyer programs, whose objective is customer loyalty through the delivery of kilometers or points fly whenever the programs holders make certain flights, use the services of entities registered with the program or make purchases with an associated credit card. The kilometers or points earned can be exchanged for flight tickets or other services of associated entities. The consolidated financial statements include liabilities for this concept (deferred income), according to the estimate of the valuation established for the kilometers or points accumulated pending use at that date, in accordance with IFRIC 13: Customer loyalty programs. (iii) Other revenues The Company records revenues for other services when these have been provided. (b) Dividend income Dividend income is booked when the right to receive the payment is established. 2.21. Leases (a) When the Company is the lessee – financial lease The Company leases certain Property, plant and equipment in which it has substantially all the risk and benefits deriving from the ownership; they are therefore classified as financial leases. Financial leases are initially recorded at the lower of the fair value of the asset leased and the present value of the minimum lease payments. Every lease payment is separated between the liability component and the financial expenses so as to obtain a constant interest rate over the outstanding amount of the debt. The corresponding leasing obligations, net of financial charges, are included in other financial liabilities. The element of interest in the financial cost is charged to the consolidated statement of income over the lease per |
FINANCIAL RISK MANAGEMENT
FINANCIAL RISK MANAGEMENT | 12 Months Ended |
Dec. 31, 2017 | |
Financial Risk Management | |
FINANCIAL RISK MANAGEMENT | NOTE 3 - FINANCIAL RISK MANAGEMENT 3.1. Financial risk factors The Company is exposed to different financial risks: (a) market risk, (b) credit risk, and (c) liquidity risk. The program overall risk management of the Company aims to minimize the adverse effects of financial risks affecting the company. (a) Market risk Due to the nature of its operations, the Company is exposed to market factors such as: (i) fuel-price risk, (ii) exchange -rate risk, and (iii) interest -rate risk. The Company has developed policies and procedures for managing market risk, which aim to identify, quantify, monitor and mitigate the adverse effects of changes in market factors mentioned above. For this, the Administration monitors the evolution of price levels, exchange rates and interest rates, and quantifies their risk exposures (Value at Risk), and develops and implements hedging strategies. (i) Fuel-price risk: Exposition: For the execution of its operations the Company purchases a fuel called Jet Fuel grade 54 USGC, which is subject to the fluctuations of international fuel prices. Mitigation: To cover the risk exposure fuel, the Company operates with derivative instruments (swaps and options) whose underlying assets may be different from Jet Fuel, being possible use West Texas Intermediate (“WTI”) crude, Brent (“BRENT”) crude and distillate Heating Oil (“HO”), which have a high correlation with Jet Fuel and greater liquidity. Fuel Hedging Results: During the period ended December 31, 2017, the Company recognized gains of US $ 15.1 million for fuel net premium coverage. During the same period of 2016, the Company recognized losses of US $ 48.0 million for the same concept. As of December 31, 2017, the market value of fuel positions amounted to US $ 10.7 million (positive). At the end of December 2016, this market value was US $ 8.1 million (positive). The following tables show the level of hedge for different periods: Positions as of December 31, 2017 (*) Maturities Q118 Q218 Q318 Total Percentage of coverage over the expected volume of consumption 19 % 12 % 5 % 12 % (*) The volume shown in the table considers all the hedging instruments (swaps and options). Positions as of December 31, 2016 (*) Maturities Q117 Q217 Total Percentage of coverage over the expected volume of consumption 21 % 16 % 18 % (*) The volume shown in the table considers all the hedging instruments (swaps and options). Sensitivity analysis A drop in fuel price positively affects the Company through a reduction in costs. However, also negatively affects contracted positions as these are acquired to protect the Company against the risk of a rise in price. The policy therefore is to maintain a hedge-free percentage in order to be competitive in the event of a drop in price. The current hedge positions they are booked as cash flow hedge contracts, so a variation in the fuel price has an impact on the Company’s net equity. The following table shows the sensitivity analysis of the financial instruments according to reasonable changes in the fuel price and their effect on equity. The term of the projection was defined until the end of the last current fuel hedge contract, being the last business day of the third quarter of 2018. The calculations were made considering a parallel movement of US$ 5 per barrel in the curve of the BRENT and JET crude futures benchmark price at the end of December 2017 and the end of December, 2016. Positions as of December 31, 2017 Positions as of December 31, 2016 Benchmark price effect on equity effect on equity (US$ per barrel) (millions of US$) (millions of US$) +5 +1.8 +3.12 -5 - 3.3 -4.78 Given the structure of fuel coverage during 2017, considers a hedge-free portion, a vertical drop of 5 dollars in the JET reference price (considered as the monthly average), would have meant an approximate impact US $ 109.7 million of lower fuel costs. For the same period, a vertical rise of $ 5 in the JET reference price (considered as the monthly average) would have meant an impact of approximately US $ 110.5 million of higher fuel costs. (ii) Foreign exchange rate risk: Exposition: The functional and presentation currency of the Financial Statements of the Parent Company is the US dollar, so that the risk of the Transactional and Conversion exchange rate arises mainly from the Company's business, strategic and accounting operating activities that are expressed in a monetary unit other than the functional currency. The subsidiaries of LATAM are also exposed to foreign exchange risk whose impact affects the Company's Consolidated Income. The largest operational exposure to LATAM's exchange risk comes from the concentration of businesses in Brazil, which are mostly denominated in Brazilian Real (BRL), and are actively managed by the company. At a lower concentration, the Company is also exposed to the fluctuation of other currencies, such as: euro, pound sterling, Australian dollar, Colombian peso, Chilean peso, Argentine peso, Paraguayan guarani, Mexican peso, Peruvian nuevo sol and New Zealand dollar. Mitigation The Company mitigates currency risk exposures by contracting derivative instruments or through natural hedges or execution of internal operations. FX Hedging Results In order to reduce the exposure to the exchange rate risk in the operational cash flows of 2017, and to ensure the operating margin, LATAM makes hedges using FX derivatives. As of December 31, 2017, the market value of FX derivative positions amounted to US $ 4.4 million (positive). At the end of December 2016, this market value was US $ 1.1 million (negative). During the period ended December 31, 2017, the Company recognized losses of US $ 9.7 million for FX net premium coverage. During the same period of 2016, the company recognized losses of US $ 40.3 million for this concept. As of December 31, 2017, the Company has contracted FX derivatives for US $ 180 million for BRL. By the end of December 2016, the company had contracted FX derivatives for US $ 60 million for BRL, and US $ 10 million for GBP. Sensitivity analysis: A depreciation of the R $ / US $ exchange rate, negatively affects the Company's operating cash flows, however, also positively affects the value of the positions of derivatives contracted. FX derivatives are recorded as cash flow hedge contracts; therefore, a variation in the exchange rate has an impact on the market value of the derivatives, the changes of which affect the Company's net equity. The following table shows the awareness of FX derivative instruments according to reasonable changes in the exchange rate and its effect on equity. The projection term was defined until the end of the last contract of coverage in force, being the last business day of the second quarter of the year 2018: Appreciation (depreciation) Effect at December 31, 2017 Effect at December 31, 2016 of R$ (*) Millions of US$ Millions of US$ -10% -10.7 -1.02 +10% +9.7 +3.44 (*)Both currencies (BRL and GBP) only apply period to the closing of 2016. During 2017, the Company contracted derivative currency swaps to hedge debt issued the same year for a notional UF 8.7 million. As of December 31, 2017, the market value of derivative positions of currency swaps amounted to US$ 30.6 million (positive). As of December 31, 2017, the Company has recorded an amount for ineffectiveness in the consolidated statement of income for this type of hedges for US $ 6.2 million (positive). In the case of TAM S.A, whose functional currency is the Brazilian real, a large part of its liabilities are expressed in US dollars. Therefore, when converting financial assets and liabilities, from dollars to reais, they have an impact on the result of TAM S.A., which is consolidated in the Company's Income Statement. With the objective of reducing the impact on the Company's results caused by appreciations or depreciations of R$/US $, the Company has executed internal operations to reduce the net exposure in US$ for TAM S.A. The following table shows the variation of financial performance to appreciate or depreciate 10% exchange rate R$/US$: Appreciation (depreciation)* Effect at December 31, 2017 Effect at December 31, 2016 of R$/US$ Millons of US$ Millons of US$ -10% +80.5 +119.2 +10% -80.5 -119.2 (*) Appreciation (depreciation) of US$ regard to the covered currencies. Effects of exchange rate derivatives in the Financial Statements The profit or losses caused by changes in the fair value of hedging instruments are segregated between intrinsic value and temporary value. The intrinsic value is the actual percentage of cash flow covered, initially shown in equity and later transferred to income, while the hedge transaction is recorded in income. The temporary value corresponds to the ineffective portion of cash flow hedge which is recognized in the financial results of the Company (Note 19). Due to the functional currency of TAM S.A. and Subsidiaries is the Brazilian real, the Company presents the effects of the exchange rate fluctuations in Other comprehensive income by converting the Statement of financial position and Income statement of TAM S.A. and Subsidiaries from their functional currency to the U.S. dollar, which is the presentation currency of the consolidated financial statement of LATAM Airlines Group S.A. and Subsidiaries. The Goodwill generated in the Business combination is recognized as an asset of TAM S.A. and Subsidiaries in Brazilian real whose conversion to U.S. dollar also produces effects in other comprehensive income. The following table shows the change in Other comprehensive income recognized in Total equity in the case of appreciate or depreciate 10% the exchange rate R$/US$: Appreciation (depreciation) Effect at December 31, 2017 Effect at December 31, 2016 of R$/US$ Millions of US$ Millions of US$ -10% +386.62 +351.04 +10% -316.33 -287.22 (iii) Interest -rate risk: Exposition: The Company is exposed to fluctuations in interest rates affecting the markets future cash flows of the assets, and current and future financial liabilities. The Company is exposed in one portion to the variations of London Inter-Bank Offer Rate (“LIBOR”) and other interest rates of less relevance are Brazilian Interbank Deposit Certificate ("ILC"). Mitigation In order to reduce the risk of an eventual rise in interest rates, the Company has signed interest-rate swap and call option contracts. Currently a 63% (63% at December 31, 2016) of the debt is fixed to fluctuations in interest rate. Rate Hedging Results At December 31, 2017, the market value of the positions of interest rate derivatives amounted to US$ 6.6 million (negative). At end of December 2016 this market value was US$ 17.2 million (negative). Sensitivity analysis: The following table shows the sensitivity of changes in financial obligations that are not hedged against interest-rate variations. These changes are considered reasonably possible, based on current market conditions each date. Increase (decrease) Positions as of December 31, 2017 Positions as of December 31, 2016 futures curve effect on profit or loss before tax effect on profit or loss before tax in libor 3 months (millions of US$) (millions of US$) +100 basis points -29.26 -32.16 -100 basis points +29.26 +32.16 Much of the current rate derivatives are registered for as hedges of cash flow, therefore, a variation in the exchange rate has an impact on the market value of derivatives, whose changes impact on the Company’s net equity. The calculations were made increasing (decreasing) vertically 100 basis points of the three-month Libor futures curve, being both reasonably possible scenarios according to historical market conditions. Increase (decrease) Positions as of December 31, 2017 Positions as of December 31, 2016 futures curve effect on equity effect on equity in libor 3 months (millions of US$) (millions of US$) +100 basis points +1.9 +3.93 -100 basis points -1.9 -4.03 The assumptions of sensitivity calculation must assume that forward curves of interest rates do not necessarily reflect the real value of the compensation flows. Moreover, the structure of interest rates is dynamic over time. During the periods presented, the Company has no registered amounts by ineffectiveness in consolidated statement of income for this kind of hedging. (b) Credit risk Credit risk occurs when the counterparty to a financial agreement or instrument fails to discharge an obligation due or financial instrument, leading to a loss in market value of a financial instrument (only financial assets, not liabilities). The Company is exposed to credit risk due to its operative and financial activities, including deposits with banks and financial institutions, investments in other kinds of instruments, exchange-rate transactions and the contracting of derivative instruments or options. To reduce the credit risk associated with operational activities, the Company has established credit limits to abridge the exposure of their debtors which are monitored permanently (mainly in case of operational activities in Brazil with travel agents). As a way to mitigate credit risk related to financial activities, the Company requires that the counterparty to the financial activities remain at least investment grade by major Risk Assessment Agencies. Additionally the Company has established maximum limits for investments which are monitored regularly. (i) Financial activities Cash surpluses that remain after the financing of assets necessary for the operation are invested according to credit limits approved by the Company’s Board, mainly in time deposits with different financial institutions, private investment funds, short-term mutual funds, and easily-liquidated corporate and sovereign bonds with short remaining maturities. These investments are booked as Cash and cash equivalents and other current financial assets. In order to reduce counterparty risk and to ensure that the risk assumed is known and managed by the Company, investments are diversified among different banking institutions (both local and international). The Company evaluates the credit standing of each counterparty and the levels of investment, based on (i) their credit rating, (ii) the equity size of the counterparty, and (iii) investment limits according to the Company’s level of liquidity. According to these three parameters, the Company chooses the most restrictive parameter of the previous three and based on this, establishes limits for operations with each counterparty. The Company has no guarantees to mitigate this exposure. (ii) Operational activities The Company has four large sales “clusters”: travel agencies, cargo agents, airlines and credit-card administrators. The first three are governed by International Air Transport Association, international (“IATA”) organization comprising most of the airlines that represent over 90% of scheduled commercial traffic and one of its main objectives is to regulate the financial transactions between airlines and travel agents and cargo. When an agency or airline does not pay their debt, they are excluded from operating with IATA’s member airlines. In the case of credit-card administrators, they are fully guaranteed by 100% by the issuing institutions. The exposure consists of the term granted, which fluctuates between 1 and 45 days. One of the tools the Company uses for reducing credit risk is to participate in global entities related to the industry, such as IATA, Business Sales Processing (“BSP”), Cargo Account Settlement Systems (“CASS”), IATA Clearing House (“ICH”) and banks (credit cards). These institutions fulfill the role of collectors and distributors between airlines and travel and cargo agencies. In the case of the Clearing House, it acts as an offsetting entity between airlines for the services provided between them. A reduction in term and implementation of guarantees has been achieved through these entities. Currently the sales invoicing of TAM Linhas Aéreas S.A. related with travel agents and cargo agents for domestic transportation in Brazil is done directly by TAM Linhas Aéreas S.A. Credit quality of financial assets The external credit evaluation system used by the Company is provided by IATA. Internal systems are also used for particular evaluations or specific markets based on trade reports available on the local market. The internal classification system is complementary to the external one, i.e. for agencies or airlines not members of IATA, the internal demands are greater. To reduce the credit risk associated with operational activities, the Company has established credit limits to abridge the exposure of their debtors which are monitored permanently (mainly in case of operational activities of TAM Linhas Aéreas S.A. with travel agents).The bad-debt rate in the principal countries where the Company has a presence is insignificant. (c) Liquidity risk Liquidity risk represents the risk that the Company has no sufficient funds to meet its obligations. Because of the cyclical nature of the business, the operation, and its investment and financing needs related to the acquisition of new aircraft and renewal of its fleet, plus the financing needs, the Company requires liquid funds, defined as cash and cash equivalents plus other short term financial assets, to meet its payment obligations. The liquid funds, the future cash generation and the capacity to obtain additional funding, through bond issuance and banking loans, will allow the Company to obtain sufficient alternatives to face its investment and financing future commitments. At December 31, 2017 is US$ 1,614 million (US$ 1,486 million at December 31, 2016), invested in short term instruments through financial high credit rating levels entities. In addition to the liquid funds, the Company has access to short term credit line. As of December 31, 2017, LATAM has working capital credit lines with multiple banks and additionally has a US$ 450 million undrawn committed credit line (US$ 325 million at December 31, 2016) subject to borrowing base availability. Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2017 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2 Chile. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Loans to exporters 97.032.000-8 BBVA Chile US$ 75,863 - - - - 75,863 75,000 At Expiration 2.30 2.30 97.032.000-8 BBVA Chile UF - 57,363 - - - 57,363 55,801 At Expiration 3.57 2.77 97.036.000-K SANTANDER Chile US$ 30,131 - - - - 30,131 30,000 At Expiration 2.49 2.49 97.030.000-7 ESTADO Chile US$ 40,257 - - - - 40,257 40,000 At Expiration 2.57 2.57 97.003.000-K BANCO DO BRASIL Chile US$ 100,935 - - - - 100,935 100,000 At Expiration 2.40 2.40 97.951.000-4 HSBC Chile US$ 12,061 - - - - 12,061 12,000 At Expiration 2.03 2.03 Bank loans 97.023.000-9 CORPBANCA Chile UF 22,082 22,782 43,430 - - 88,294 84,664 Quarterly 3.68 3.68 0-E BLADEX U.S.A. US$ - 16,465 15,628 - - 32,093 30,000 Semiannual 5.51 5.51 97.036.000-K SANTANDER Chile US$ 2,040 3,368 202,284 - - 207,692 202,284 Quarterly 4.41 4.41 Obligations with the public 0-E BANK OF NEW YORK U.S.A. US$ - 84,375 650,625 96,250 772,188 1,603,438 1,200,000 At Expiration 7.44 7.03 97.030.000-7 ESTADO Chile UF - 20,860 41,720 226,379 245,067 534,026 379,274 At Expiration 5.50 5.50 Guaranteed obligations 0-E CREDIT AGRICOLE France US$ 8,368 25,415 56,305 12,751 - 102,839 98,091 Quarterly 2.66 2.22 0-E BNP PARIBAS U.S.A. US$ 14,498 59,863 148,469 145,315 313,452 681,597 575,221 Quarterly 3.41 3.40 0-E WELLS FARGO U.S.A. US$ 30,764 92,309 246,285 246,479 245,564 861,401 808,987 Quarterly 2.46 1.75 0-E WILMINGTON TRUST COMPANY U.S.A. US$ 32,026 95,042 253,469 244,836 676,474 1,301,847 1,034,853 Quarterly 4.48 4.48 0-E CITIBANK U.S.A. US$ 14,166 42,815 114,612 112,435 102,045 386,073 351,217 Quarterly 3.31 2.47 0-E BTMU U.S.A. US$ 3,292 9,997 26,677 26,704 14,133 80,803 74,734 Quarterly 2.87 2.27 0-E APPLE BANK U.S.A. US$ 1,611 4,928 13,163 13,196 7,369 40,267 37,223 Quarterly 2.78 2.18 0-E US BANK U.S.A. US$ 18,485 55,354 146,709 145,364 158,236 524,148 472,833 Quarterly 4.00 2.82 0-E DEUTSCHE BANK U.S.A. US$ 4,043 12,340 32,775 32,613 32,440 114,211 96,906 Quarterly 4.39 4.39 0-E NATIXIS France US$ 18,192 54,952 129,026 105,990 166,011 474,171 413,011 Quarterly 3.42 3.40 0-E PK AirFinance U.S.A. US$ 2,375 7,308 20,812 18,104 - 48,599 46,500 Monthly 3.18 3.18 0-E KFW IPEX-BANK Germany US$ 2,570 7,111 16,709 1,669 - 28,059 26,888 Quarterly 3.31 3.31 0-E AIRBUS FINANCIAL U.S.A. US$ 2,033 6,107 15,931 - - 24,071 22,925 Monthly 3.19 3.19 0-E INVESTEC England US$ 1,930 11,092 26,103 26,045 11,055 76,225 63,378 Semiannual 6.04 6.04 Other guaranteed obligations 0-E CREDIT AGRICOLE France US$ 1,757 5,843 246,926 - - 254,526 241,287 At Expiration 3.38 3.38 Financial leases 0-E ING U.S.A. US$ 5,890 12,076 28,234 - - 46,200 42,957 Quarterly 5.67 5.00 0-E CITIBANK U.S.A. US$ 12,699 38,248 91,821 51,222 2,880 196,870 184,274 Quarterly 3.78 3.17 0-E PEFCO U.S.A. US$ 13,354 34,430 23,211 - - 70,995 67,783 Quarterly 5.46 4.85 0-E BNP PARIBAS U.S.A. US$ 13,955 35,567 50,433 2,312 - 102,267 98,105 Quarterly 3.66 3.25 0-E WELLS FARGO U.S.A. US$ 12,117 38,076 98,424 66,849 21,253 236,719 221,113 Quarterly 3.17 2.67 97.036.000-K SANTANDER Chile US$ 6,049 18,344 48,829 47,785 3,156 124,163 117,023 Quarterly 2.51 1.96 0-E RRPF ENGINE England US$ 370 3,325 8,798 8,692 9,499 30,684 25,983 Monthly 4.01 4.01 Other loans 0-E CITIBANK (*) U.S.A. US$ 25,783 77,810 206,749 - - 310,342 285,891 Quarterly 6.00 6.00 Derivatives of coverage - Others - US$ 5,656 6,719 6,228 - - 18,603 17,407 - 0.00 0.00 Total 535,352 960,284 3,010,385 1,630,990 2,780,822 8,917,833 7,633,613 (*) Bonus securitized with the future flows of credit card sales in the United States and Canada. Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2017 Debtor: TAM S.A. and Subsidiaries, Tax No. 02.012.862/0001-60, Brazil. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Bank loans 0-E NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ Holland US$ 176 497 1,332 722 - 2,727 2,382 Monthly 6.01 6.01 Financial leases 0-E NATIXIS France US$ 4,248 7,903 23,141 71,323 - 106,615 99,036 Quarterly / Semiannual 5.59 5.59 0-E WACAPOU LEASING S.A. Luxembourg US$ 837 2,411 6,509 3,277 - 13,034 12,047 Quarterly 3.69 3.69 0-E SOCIÉTÉ GÉNÉRALE MILAN BRANCH Italy US$ 11,735 32,230 204,836 - - 248,801 244,513 Quarterly 4.87 4.81 0-E BANCO IBM S.A Brazil BRL 34 - - - - 34 21 Monthly 6.89 6.89 0-E SOCIÉTÉ GÉNÉRALE France BRL 161 12 - - - 173 109 Monthly 6.89 6.89 Total 17,191 43,053 235,818 75,322 - 371,384 358,108 Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2017 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2, Chile. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Trade and other accounts payables - OTHERS OTHERS ThUS$ 566,838 - - - - 566,838 566,838 - - - CLP 165,299 - - - - 165,299 165,299 - - - BRL 315,605 - - - - 315,605 315,605 - - - Other currencies 290,244 11,215 - - - 301,459 301,459 - - - Accounts payable to related parties currents 78.997.060-2 Viajes Falabella Ltda. Chile CLP 534 - - - - 534 534 - - - 0-E Inversora Aeronáutica Argentina Argentina ThUS$ 4 - - - - 4 4 - - - 0-E Consultoría Administrativa Profesional S.A. de C.V. Mexico MXN 210 - - - - 210 210 - - - 78.591.370-1 Bethia S.A. y Filiales Chile CLP 12 - - - - 12 12 - - - Total 1,338,746 11,215 - - - 1,349,961 1,349,961 Total consolidated 1,891,289 1,014,552 3,246,203 1,706,312 2,780,822 10,639,178 9,341,682 Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2016 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2 Chile. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Loans to exporters 97.032.000-8 BBVA Chile ThUS$ 75,212 - - - - 75,212 75,000 At Expiration 1.85 1.85 97.032.000-8 BBVA Chile ThUS$ - 52,675 - - - 52,675 50,381 At Expiration 5.23 4.43 97.036.000-K SANTANDER Chile ThUS$ 30,193 - - - - 30,193 30,000 At Expiration 2.39 2.39 97.030.000-7 ESTADO Chile ThUS$ 40,191 - - - - 40,191 40,000 At Expiration 1.91 1.91 97.003.000-K BANCO DO BRASIL Chile ThUS$ 72,151 - - - - 72,151 70,000 At Expiration 3.08 3.08 97.951.000-4 HSBC Chile ThUS$ 12,054 - - - - 12,054 12,000 At Expiration 1.79 1.79 Bank loans 97.023.000-9 CORPBANCA Chile UF 20,808 61,112 63,188 16,529 - 161,637 153,355 Quarterly 4.06 4.06 0-E BLADEX U.S.A. ThUS$ - 14,579 31,949 - - 46,528 42,500 Semiannual 5.14 5.14 0-E DVB BANK SE U.S.A. ThUS$ 145 199 28,911 - - 29,255 28,911 Quarterly 1.86 1.86 97.036.000-K SANTANDER Chile ThUS$ 1,497 4,308 160,556 - - 166,361 158,194 Quarterly 3.55 3.55 Obligations with the public 0-E BANK OF NEW YORK U.S.A. ThUS$ - 36,250 72,500 518,125 - 626,875 500,000 At Expiration 7.77 7.25 Guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ 11,728 30,916 65,008 33,062 3,760 144,474 138,417 Quarterly 2.21 1.81 0-E BNP PARIBAS U.S.A. ThUS$ 13,805 56,324 142,178 141,965 376,894 731,166 628,118 Quarterly 2.97 2.96 0-E WELLS FARGO U.S.A. ThUS$ 35,896 107,830 287,878 288,338 411,076 1,131,018 1,056,345 Quarterly 2.37 1.68 0-E WILMINGTON TRUST COMPANY U.S.A. ThUS$ 25,833 79,043 206,952 200,674 733,080 1,245,582 967,336 Quarterly 4.25 4.25 0-E CITIBANK U.S.A. ThUS$ 20,224 61,020 164,077 166,165 184,053 595,539 548,168 Quarterly 2.72 1.96 97.036.000-K SANTANDER Chile ThUS$ 5,857 17,697 47,519 48,024 26,448 145,545 138,574 Quarterly 1.98 1.44 0-E BTMU U.S.A. ThUS$ 3,163 9,568 25,752 26,117 27,270 91,870 85,990 Quarterly 2.31 1.72 0-E APPLE BANK U.S.A. ThUS$ 1,551 4,712 12,693 12,891 13,857 45,704 42,754 Quarterly 2.29 1.69 0-E US BANK U.S.A. ThUS$ 18,563 55,592 147,357 146,045 230,747 598,304 532,608 Quarterly 3.99 2.81 0-E DEUTSCHE BANK U.S.A. ThUS$ 6,147 18,599 31,640 31,833 48,197 136,416 117,263 Quarterly 3.86 3.86 0-E NATIXIS France ThUS$ 14,779 44,826 116,809 96,087 206,036 478,537 422,851 Quarterly 2.60 2.57 0-E PK AirFinance U.S.A. ThUS$ 2,265 6,980 19,836 25,610 3,153 57,844 54,787 Monthly 2.40 2.40 0-E KFW IPEX-BANK Germany ThUS$ 2,503 7,587 18,772 9,178 - 38,040 36,191 Quarterly 2.55 2.55 0-E AIRBUS FINANCIAL U.S.A. ThUS$ 1,982 5,972 16,056 7,766 - 31,776 30,199 Monthly 2.49 2.49 0-E INVESTEC England ThUS$ 1,880 10,703 25,369 25,569 23,880 87,401 72,202 Semiannual 5.67 5.67 Other guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ 1,501 4,892 268,922 - - 275,315 256,860 At Expiration 2.85 2.85 Financial leases 0-E ING U.S.A. ThUS$ 5,889 17,671 34,067 12,134 - 69,761 63,698 Quarterly 5.62 4.96 0-E CREDIT AGRICOLE France ThUS$ 1,788 5,457 - - - 7,245 7,157 Quarterly 1.85 1.85 0-E CITIBANK U.S.A. ThUS$ 6,083 18,250 48,667 14,262 - 87,262 78,249 Quarterly 6.40 5.67 0-E PEFCO U.S.A. ThUS$ 17,558 50,593 67,095 3,899 - 139,145 130,811 Quarterly 5.39 4.79 0-E BNP PARIBAS U.S.A. ThUS$ 13,744 41,508 79,165 22,474 - 156,891 149,119 Quarterly 3.69 3.26 0-E WELLS FARGO U.S.A. ThUS$ 5,591 16,751 44,615 44,514 1,880 113,351 103,326 Quarterly 3.98 3.54 0-E DVB BANK SE U.S.A. ThUS$ 4,773 9,541 - - - 14,314 14,127 Quarterly 2.57 2.57 0-E RRPF ENGINE England ThUS$ - - 8,248 8,248 12,716 29,212 25,274 Monthly 2.35 2.35 Other loans 0-E BOEING U.S.A. ThUS$ 163 320 26,214 - - 26,697 26,214 At Expiration 2.35 2.35 0-E CITIBANK (*) U.S.A. ThUS$ 25,802 77,795 207,001 103,341 - 413,939 370,389 Quarterly 6.00 6.00 Hedging derivatives - OTROS - ThUS$ 7,364 15,479 7,846 - - 30,689 - - 0.00 0.00 - Total 508,683 944,749 2,476,840 2,002,850 2,303,047 8,236,169 7,257,368 (*) Securitized bond with the future flows from the sales with credit card in United States and Canada. Clases de pasivo para el análisis del riesgo de liquidez agrupado por vencimiento al 31 de diciembre de 2016 Nombre empresa deudora: TAM S.A. y Filiales, Rut 02.012.862/0001-60, Brasil. Más de Más de Más de País de Descripción Hasta 90 días uno a tres a Más de Total Rut empresa empresa de la 90 a un tres cinco cinco Total Valor Tipo de Tasa Tasa acreedora Nombre empresa acreedora acreedora moneda días año años años años Valor nominal amortización efectiva nominal MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ % % Préstamos bancarios 0-E NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ Holanda US$ 179 493 1,315 1,314 54 3,355 2,882 Mensual 6.01 6.01 0-E CITIBANK E.E.U.U. US$ 1,528 203,150 - - - 204,678 200,000 Al Vencimiento 3.39 3.14 Obligaciones con el Público 0-E THE BANK OF NEW YORK E.E.U.U. US$ - 352,938 83,750 562,813 - 999,501 800,000 Al Vencimiento 8.17 8.00 Arrendamiento Financiero 0-E AFS INVESTMENT IX LLC E.E.U.U. US$ 2,733 7,698 20,522 8,548 - 39,501 35,448 Mensual 1.25 1.25 0-E DVB BANK SE E.E.U.U. US$ 120 165 - - - 285 282 Mensual 2.50 2.50 0-E GENERAL ELECTRIC CAPITAL CORPORATION E.E.U.U. US$ 3,852 5,098 - - - 8,950 8,846 Mensual 2.30 2.30 0-E KFW IPEX-BANK Alemania US$ 592 1,552 - - - 2,144 2,123 Mensual/Trimestral 2.80 2.80 0-E NATIXIS Francia US$ 4,290 7,837 22,834 40,968 41,834 117,763 107,443 Trimestral/Semestral 4.90 4.90 0-E WACAPOU LEASING S.A. Luxemburgo US$ 833 2,385 6,457 6,542 - 16,217 14,754 Trimestral 3.00 3.00 0-E SOCIÉTÉ GÉNÉRALE MILAN BRANCH Italia US$ 11,875 32,116 85,995 171,553 - 301,539 279,335 Trimestral 4.18 4.11 0-E BANCO IBM S.A Brasil BRL 380 1,161 35 - - 1,576 1,031 Mensual 13.63 13.63 0-E HP FINANCIAL SERVICE Brasil BRL 225 - - - - 225 222 Mensual 10.02 10.02 0-E SOCIÉTÉ GÉNÉRALE Francia BRL 146 465 176 - - 787 519 Mensual 13.63 13.63 Total 26,753 615,058 221,084 791,738 41,888 1,696,521 1,452,885 Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2016 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2, Chile. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Trade and other accounts payables - OTHERS OTHERS ThUS$ 549,897 21,215 - - - 571,112 571,112 - - - CLP 48,842 (30 ) - - - 48,812 48,812 - - - BRL 346,037 27 - - - 346,064 346,064 - - - Others currencies 140,471 11,467 - - - 151,938 151,938 - - - Accounts payable to related parties currents 0-E Consultoría Administrativa Profesional S.A. de C.V. Mexico MXN 170 - - - - 170 170 - - - 78.997.060-2 Viajes Falabella Ltda. Chile CLP 46 - - - - 46 46 - - - 0-E TAM Aviação Executiva e Taxi Aéreo S.A. Brazil BRL 28 - - - - 28 28 - - - 65.216.000-K Comunidad Mujer Chile CLP 13 - - - - 13 13 78.591.370-1 Bethia S.A. y Filiales Chile CLP 6 - - - - 6 6 79.773.440-3 Transportes San Felipe S.A. Chile CLP 4 - - - - 4 4 - - - 0-E Inversora Aeronáutica Argentina Argentina ThUS$ 2 - - - - 2 2 - - - Total 1,085,516 32,679 - - - 1,118,195 1,118,195 Total consolidated 1,620,952 1,592,486 2,697,924 2,794,588 2,344,935 11,050,885 9,828,448 The Company has fuel, interest rate and exchange rate hedging strategies involving derivatives contracts with different financial institutions. The Company has margin facilities with each financial institution in order to regulate the mutual exposure produced by changes in the market valuation of the derivatives. At the end of 2016, the Company provided US$ 30.2 million in derivative margin guarantees, for cash and stand-by letters of credit. At December 31, 2017, the Company had provided US$ 16.4 million in guarantees for Cash and cash equivalent and stand-by letters of credit. The decrease was due at: i) maturity of hedge contracts, ii) acquire of new fuel purchase contracts, and iii) changes in fuel prices, exchange rate and interest rates. 3.2. Capital risk management The Company’s objectives, with respect to the management of capital, are (i) to comply with |
ACCOUNTING ESTIMATES AND JUDGME
ACCOUNTING ESTIMATES AND JUDGMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Estimates And Judgments | |
ACCOUNTING ESTIMATES AND JUDGMENTS | NOTE 4 - ACCOUNTING ESTIMATES AND JUDGMENTS The Company has used estimates to value and record certain assets, liabilities, revenue, expenditure, and commitments. Basically, these estimates relate to: (a) Evaluation of possible losses through impairment of goodwill and intangible assets with an indefinite useful life. As of December 31, 2017, the goodwill amounts to ThUS $ 2,672,550 (ThUS $ 2,710,382 as of December 31, 2016), while the intangible assets comprise the Airport Slots for ThUS $ 964,513 (ThUS $ 978,849 as of December 31, 2016) and Loyalty Program for ThUS $ 321,440 (ThUS $ 326,262 as of December 31, 2016). The Company checks at least once a year whether goodwill and intangible assets with an indefinite useful life have suffered an impairment loss. For this evaluation, the Company has identified two cash generating units (CGU), "Air transport" and "Multiplus coalition and loyalty program". The book value of the surplus value assigned to each CGU as of December 31, 2017 amounted to ThUS $ 2,146,692 and ThUS $ 525,858 (ThUS $ 2,176,634 and ThUS $ 533,748 as of December 31, 2016), which include the following Intangible assets of indefinite useful life: Air Transport Coalition and loyalty As of As of As of As of December 31, December 31, December 31, December 31, 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Airport Slots 964,513 978,849 - - Loyalty program - - 321,440 326,262 The recoverable value of these cash-generating units (CGUs) has been determined based on calculations of their value in use. The principal assumptions used by the management include: growth rate, exchange rate, discount rate, fuel prices, and other economic assumptions. The estimation of these assumptions requires significant judgment by the management, as these variables feature inherent uncertainty; however, the assumptions used are consistent with Company’s internal planning. Therefore, management evaluates and updates the estimates on an annual basis, in light of conditions that affect these variables. The mainly assumptions used as well as, the corresponding sensitivity analyses are showed in Note 16. (b) Useful life, residual value, and impairment of property, plant, and equipment The depreciation of assets is calculated based on the linear model, except for certain technical components depreciated on cycles and hours flown. These useful lives are reviewed on an annual basis according with the Company’s future economic benefits associated with them. Changes in circumstances such as: technological advances, business model, planned use of assets or capital strategy may render the useful life different to the lifespan estimated. When it is determined that the useful life of property, plant, and equipment must be reduced, as may occur in line with changes in planned usage of assets, the difference between the net book value and estimated recoverable value is depreciated, in accordance with the revised remaining useful life. Residual values are estimated in accordance with the market value that these assets will have at the end of their useful life. The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, once a year. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount (note 2.8). (c) Recoverability of deferred tax assets Deferred taxes are calculated according to the liability method, on the temporary differences that arise between the tax bases of assets and liabilities and their carrying amounts. Deferred tax assets on tax losses are recognized to the extent that it is probable that future tax benefits will be available with which to offset the temporary differences. The Company makes financial and fiscal projections to evaluate the realization in time of this deferred tax asset. Additionally, it ensures that these projections are consistent with those used to measure other long-lived assets. As of December 31, 2017, the Company has recognized deferred tax assets of ThUS $ 364,021 (ThUS $ 384,580 as of December 31, 2016) and has ceased to recognize deferred tax assets on tax losses of ThUS $ 81,155 (ThUS $ 115,801 as of December 31, 2016) (Note 18). (d) Air tickets sold that are not actually used. The Company register advance sales of tickets as deferred revenue. Revenue from ticket sales is recognized in the income statement when the service is provided or when the tickets expires unused, reducing the corresponding deferred revenue. The Company evaluates monthly the probability that tickets expiry unused, based on the history of used tickets. Changes in the exchange probability would have an impact our revenue in the year in which the change occurs and in future years. As of December 31, 2017, deferred revenue associated with air tickets sold amounted to ThUS$ 1,550,447 (ThUS$ 1,535,229 as of December 31, 2016). An hypothetical change of 1% in passenger behavior regarding to the ticket usage, that is, if during the next six months after sells probability of used were 89% rather than 90%, as we consider, it would lead to a change in the expiry period from six to seven months, which, would have an impact of up to ThUS$ 20,000 in the results of 2017. (e) Valuation of loyalty points and kilometers granted to loyalty program members, pending usage. As of December 31, 2017 and 2016 the Company operated the following loyalty programs: LATAM Pass, LATAM Fidelidade and Multiplus, with the objective of enhancing customer loyalty by offering points or kilometers (see Note 22). The members of these programs accumulate kilometers when they fly with LATAM Airlines Group or any other airline member of the onewordl® program, as well as use the services of the associated entities. When kilometers and points are redeemed for products and services other than the services provided by the Company, revenue is recognized immediately; when they are redeemed for air tickets on airlines from LATAM Airlines Group S.A. and subsidiaries, revenue is deferred until the transport service is provided or the corresponding tickets expired. Deferred revenue from loyalty programs at the closing date corresponds to the valuation of points and kilometers granted to loyalty program members, pending of use, weighted by the probability to be redeemed. According to IFRIC-13, kilometers and points value that the Company estimate are not likely to be redeemed (“breakage”), they recognize the associated value proportionally during the period in which the remaining kilometers or points are expected to be redeemed. The Company uses statistical models to estimate the breakage, based on historical redemption patterns and projections prepared by external experts. As of December 31, 2017, the deferred revenue associated with the LATAM Pass loyalty program amounts to ThUS $ 853,505 (ThUS$ 896,190 as of December 31, 2016). A hypothetical change of one percentage point in the exchange probability would result in an impact as of December 31, 2017 of ThUS$ 25,000 (ThUS$ 30,632 as of December 31, 2016). While the deferred revenues associated with the loyalty programs LATAM Fidelidade and Multiplus amount to ThUS $ 364,866 (ThUS$ 392,107 as of December 31, 2016). A hypothetical change of two percentage points in the number of points pending to be exchanged would result in an impact ThUS$ 16,700 in 2017 (ThUS$ 14,639 in 2016). The value of kilometers and other components are determined by the Company based on a fair value analysis. As of December 31, 2017 a hypothetical change of one percentage point in the fair value of the unused kilometers would result in an impact of ThUS$ 8,000 in 2017 (ThUS$ 8,400 in 2016). (f) Provisions needs, and their valuation when required Known contingencies are recognized when: the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation and the amount has been reliably estimated. The Company applies professional judgment, experience, and knowledge to use available information to determine these values, in light of the specific characteristics of known risks. This process facilitates the early assessment and valuation of potential risks in individual cases or in the development of contingent eventualities. (g) Investment in subsidiary (TAM) The management has applied its judgment in determining that LATAM Airlines Group S.A. controls TAM S.A. and Subsidiaries, for accounting purposes, and has therefore consolidated the financial statements. The grounds for this decision are that LATAM issued ordinary shares in exchange for the majority of circulating ordinary and preferential shares in TAM, except for those TAM shareholders who did not accept the exchange, which were subject to a squeeze out, entitling LATAM to substantially all economic benefits generated by the LATAM Group, and thus exposing it to substantially all risks relating to the operations of TAM. This exchange aligns the economic interests of LATAM and all of its shareholders, including the controlling shareholders of TAM, thus insuring that the shareholders and directors of TAM shall have no incentive to exercise their rights in a manner that would be beneficial to TAM but detrimental to LATAM. Furthermore, all significant actions necessary of the operation of the airlines require votes in favor by the controlling shareholders of both LATAM and TAM. Since the integration of LAN and TAM operations, the most critical airline operations in Brazil have been managed by the CEO of TAM while global activities have been managed by the CEO of LATAM, who is in charge of the operation of the LATAM Group as a whole and reports to the LATAM Board. The CEO of LATAM also evaluates the performance of LATAM Group executives and, together with the LATAM Board, determines compensation. Although Brazilian law currently imposes restrictions on the percentages of voting rights that may be held by foreign investors, LATAM believes that the economic basis of these agreements meets the requirements of accounting standards in force, and that the consolidation of the operations of LAN and LATAM is appropriate. These estimates were made based on the best information available relating to the matters analyzed. In any case, it is possible that events that may take place in the future could lead to their modification in future reporting periods, which would be made in a prospective manner. |
SEGMENTAL INFORMATION
SEGMENTAL INFORMATION | 12 Months Ended |
Dec. 31, 2017 | |
Segmental Information | |
SEGMENTAL INFORMATION | NOTE 5 - SEGMENTAL INFORMATION The Company has determined that it has two operating segments: the air transportation business and the coalition and loyalty program Multiplus. The Air transport segment corresponds to the route network for air transport and it is based on the way that the business is run and managed, according to the centralized nature of its operations, the ability to open and close routes and reallocate resources (aircraft, crew, staff, etc..) within the network, which is a functional relationship between all of them, making them inseparable. This segment definition is the most common level used by the global airline industry. The segment of loyalty coalition called Multiplus, unlike LATAM Pass and LATAM Fidelidade, is a frequent flyer programs which operate as a unilateral system of loyalty that offers a flexible coalition system, interrelated among its members, with 19.4 million of members, along with being a regulated entity with a separately business and not directly related to air transport. For the periods ended Coalition and Air loyalty program transportation Multiplus Eliminations Consolidated At December 31, At December 31, At December 31, At December 31, 2017 2016 2015 2017 2016 2015 2017 2016 2015 2017 2016 2015 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Income from ordinary activities from external customers (*) 9,159,031 8,587,772 9,278,041 454,876 400,568 462,004 - - - 9,613,907 8,988,340 9,740,045 LAN passenger 4,313,287 4,104,348 4,241,918 - - - - - - 4,313,287 4,104,348 4,241,918 TAM passenger 3,726,314 3,372,799 3,706,692 454,876 400,568 462,004 - - - 4,181,190 3,773,367 4,168,696 Freight 1,119,430 1,110,625 1,329,431 - - - - - - 1,119,430 1,110,625 1,329,431 Income from ordinary activities from transactions with other operating segments 454,876 400,568 462,004 67,554 65,969 67,826 (522,430 ) (466,537 ) (529,830 ) - - Other operating income 308,937 364,551 230,823 240,952 174,197 154,958 - - - 549,889 538,748 385,781 Interest income 28,184 27,287 21,818 50,511 58,380 63,647 (10,718 ) (10,385 ) 78,695 74,949 75,080 Interest expense (393,286 ) (427,054 ) (423,742 ) - - - 10,718 10,385 (393,286 ) (416,336 ) (413,357 ) Total net interest expense (365,102 ) (399,767 ) (401,924 ) 50,511 58,380 63,647 - - - (314,591 ) (341,387 ) (338,277 ) Depreciation and amortization (994,416 ) (952,285 ) (923,311 ) (7,209 ) (8,043 ) (11,095 ) - - - (1,001,625 ) (960,328 ) (934,406 ) Material non-cash items other than depreciation and amortization (75,479 ) 10,069 (507,921 ) (145 ) (991 ) 1,893 - - - (75,624 ) 9,078 (506,028 ) Disposal of fixed assets and inventory losses (39,238 ) (82,734 ) (20,932 ) - - - - - - (39,238 ) (82,734 ) (20,932 ) Doubtful accounts (18,272 ) (29,674 ) (18,292 ) (144 ) (476 ) 611 - - - (18,416 ) (30,150 ) (17,681 ) Exchange differences (18,717 ) 122,129 (469,178 ) (1 ) (478 ) 1,282 - - - (18,718 ) 121,651 (467,896 ) Result of indexation units 748 348 481 - (37 ) - - - - 748 311 481 Income (loss) atributable to owners of the parents (3,482 ) (83,653 ) (356,039 ) 158,783 152,873 136,765 - - - 155,301 69,220 (219,274 ) Participation of the entity in the income of associates - - 37 - - - - - - - - 37 Expenses for income tax (104,376 ) (92,476 ) 249,090 (69,128 ) (70,728 ) (70,707 ) - - - (173,504 ) (163,204 ) 178,383 Segment profit / (loss) 41,931 (42,203 ) (315,497 ) 158,783 152,873 136,765 - - - 200,714 110,670 (178,732 ) Assets of segment 17,430,937 17,805,749 16,924,200 1,373,049 1,400,432 1,182,111 (6,014 ) (7,987 ) (4,893 ) 18,797,972 19,198,194 18,101,418 Segment liabilities 14,007,916 14,469,505 14,700,072 563,849 572,065 490,076 (41,029 ) (28,680 ) (26,278 ) 14,530,736 15,012,890 15,163,870 Amount of non-current asset additions 412,846 1,481,090 1,492,281 - - - - - - 412,846 1,481,090 1,492,281 Property, plant and equipment 325,513 1,390,730 1,439,057 - - - - - - 325,513 1,390,730 1,439,057 Intangibles other than goodwill 87,333 90,360 53,224 - - - - - - 87,333 90,360 53,224 Purchase of non-monetary assets of segment 490,983 782,957 1,622,198 - - - - - - 490,983 782,957 1,622,198 (*) The Company does not have any interest revenue that should be recognized as income from ordinary activities by interest. For the periods ended Coalition and Air loyalty program transportation Multiplus Eliminations Consolidated At December 31, At December 31, At December 31, At December 31, 2017 2016 2015 2017 2016 2015 2017 2016 2015 2017 2016 2015 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Net cash flows from Purchases of property, plant and equipment 403,282 693,581 691,930 384 789 2,440 - - - 403,666 694,370 694,370 Additions associated with maintenance 218,537 197,866 230,526 - - - - - - 218,537 197,866 230,526 Other additions 184,745 495,715 461,404 384 789 2,440 - - - 185,129 496,504 463,844 Purchases of intangible assets 79,102 84,377 41,399 8,216 4,210 11,050 - - - 87,318 88,587 52,449 Net cash flows from (used in) operating activities 1,489,797 827,108 1,531,395 186,367 154,411 147,348 (9,424 ) (635 ) (6,642 ) 1,666,740 980,884 1,672,101 Net cash flow from (used in) investing activities (278,790 ) (426,989 ) (1,679,272 ) (8,632 ) (4,800 ) (16,423 ) - - - (287,422 ) (431,789 ) (1,695,695 ) Net cash flows from (used in) financing activities (1,010,705 ) (246,907 ) (4,708 ) (168,383 ) (149,372 ) (123,652 ) - - - (1,179,088 ) (396,279 ) (128,360 ) (**) The company does not have the cash flows of intangible asset acquisitions associated with maintenance. The Company’s revenues by geographic area are as follows: For the period ended At December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Peru 626,316 627,215 681,340 Argentina 1,113,467 1,030,973 979,324 U.S.A. 900,413 933,130 1,025,475 Europe 676,282 714,436 723,062 Colombia 359,276 343,001 353,007 Brazil 3,436,402 2,974,234 3,464,297 Ecuador 190,268 198,171 238,500 Chile 1,527,158 1,512,570 1,575,519 Asia Pacific and rest of Latin America 784,325 654,610 699,521 Income from ordinary activities 9,613,907 8,988,340 9,740,045 Other operating income 549,889 538,748 385,781 The Company allocates revenues by geographic area based on the point of sale of the passenger ticket or cargo. Assets are composed primarily of aircraft and aeronautical equipment, which are used throughout the different countries, so it is not possible to assign a geographic area. The Company has no customers that individually represent more than 10% of sales. |
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS | 12 Months Ended |
Dec. 31, 2017 | |
Cash and cash equivalents [abstract] | |
CASH AND CASH EQUIVALENTS | NOTE 6 - CASH AND CASH EQUIVALENTS As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Cash on hand 8,562 8,630 Bank balances 330,430 255,746 Overnight 239,292 295,060 Total Cash 578,284 559,436 Cash equivalents Time deposits 534,062 374,369 Mutual funds 29,658 15,522 Total cash equivalents 563,720 389,891 Total cash and cash equivalents 1,142,004 949,327 Cash and cash equivalents are denominated in the following currencies: As of As of Currency December 31, December 31, 2017 2016 ThUS$ ThUS$ Argentine peso 12,135 7,871 Brazilian real 106,499 97,401 Chilean peso 81,845 30,758 Colombian peso 7,264 4,336 Euro 11,746 1,695 US Dollar 882,114 780,124 Other currencies 40,401 27,142 Total 1,142,004 949,327 |
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Financial Instruments | |
FINANCIAL INSTRUMENTS | NOTE 7 - FINANCIAL INSTRUMENTS 7.1. Financial instruments by category As of December 31, 2017 Initial designation Assets Loans Held as fair value and Hedge for through receivables derivatives trading profit and loss Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Cash and cash equivalents 1,112,346 - - 29,658 1,142,004 Other financial assets, current (*) 23,918 62,348 1,421 472,232 559,919 Trade and others accounts receivable, current 1,214,050 - - - 1,214,050 Accounts receivable from related entities, current 2,582 - - - 2,582 Other financial assets, non current (*) 87,077 519 494 - 88,090 Accounts receivable, non current 6,891 - - - 6,891 Total 2,446,864 62,867 1,915 501,890 3,013,536 Liabilities Other Held financial Hedge liabilities derivatives Total ThUS$ ThUS$ ThUS$ Other liabilities, current 1,288,749 12,200 1,300,949 Trade and others accounts payable, current 1,695,202 - 1,695,202 Accounts payable to related entities, current 760 - 760 Other financial liabilities, non-current 6,602,891 2,617 6,605,508 Accounts payable, non-current 498,832 - 498,832 Total 10,086,434 14,817 10,101,251 (*) The value presented as initial designation as fair value through profit and loss, corresponds mainly to private investment funds; and loans and receivables corresponds to guarantees given. As of December 31, 2016 Initial designation Assets Loans Held as fair value and Hedge for through receivables derivatives trading profit and loss Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Cash and cash equivalents 933,805 - - 15,522 949,327 Other financial assets, current (*) 164,426 11,411 - 536,991 712,828 Trade and others accounts receivable, current 1,107,889 - - - 1,107,889 Accounts receivable from related entities, current 554 - - - 554 Other financial assets, non current (*) 101,603 - 522 - 102,125 Accounts receivable, non current 8,254 - - - 8,254 Total 2,316,531 11,411 522 552,513 2,880,977 Liabilities Other Held financial Hedge liabilities derivatives Total ThUS$ ThUS$ ThUS$ Other liabilities, current 1,814,647 24,881 1,839,528 Trade and others accounts payable, current 1,593,068 - 1,593,068 Accounts payable to related entities, current 269 - 269 Other financial liabilities, non-current 6,790,273 6,679 6,796,952 Accounts payable, non-current 359,391 - 359,391 Total 10,557,648 31,560 10,589,208 (*) The value presented as initial designation as fair value through profit and loss, corresponds mainly to private investment funds; and loans and receivables corresponds to guarantees given. 7.2. Financial instruments by currency a) Assets As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Cash and cash equivalents 1,142,004 949,327 Argentine peso 12,135 7,871 Brazilian real 106,499 97,401 Chilean peso 81,845 30,758 Colombian peso 7,264 4,336 Euro 11,746 1,695 US Dollar 882,114 780,124 Other currencies 40,401 27,142 Other financial assets (current and non-current) 648,009 814,953 Argentine peso 297 337 Brazilian real 475,810 686,501 Chilean peso 26,679 668 Colombian peso 1,928 1,023 Euro 7,853 6,966 US Dollar 133,431 117,346 Other currencies 2,011 2,112 Trade and other accounts receivable, current 1,214,050 1,107,889 Argentine peso 49,958 82,770 Brazilian real 635,890 551,260 Chilean peso 83,415 92,791 Colombian peso 3,249 16,454 Euro 48,286 21,923 US Dollar 257,324 312,394 Other currencies (*) 135,928 30,297 Accounts receivable, non-current 6,891 8,254 Brazilian real 4 4 Chilean peso 6,887 8,250 Accounts receivable from related entities, current 2,582 554 Brazilian real 2 - Chilean peso 735 554 US Dollar 1,845 - Total assets 3,013,536 2,880,977 Argentine peso 62,390 90,978 Brazilian real 1,218,205 1,335,166 Chilean peso 199,561 133,021 Colombian peso 12,441 21,813 Euro 67,885 30,584 US Dollar 1,274,714 1,209,864 Other currencies 178,340 59,551 (*) See the composition of the others currencies in Note 8 Trade, other accounts receivable and non-current accounts receivable. b) Liabilities Liabilities information is detailed in the table within Note 3 Financial risk management. |
TRADE AND OTHER ACCOUNTS RECEIV
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE | 12 Months Ended |
Dec. 31, 2017 | |
Trade and other receivables [abstract] | |
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE | NOTE 8 - TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Trade accounts receivable 1,175,796 1,022,933 Other accounts receivable 133,054 170,264 Total trade and other accounts receivable 1,308,850 1,193,197 Less: Allowance for impairment loss (87,909 ) (77,054 ) Total net trade and accounts receivable 1,220,941 1,116,143 Less: non-current portion – accounts receivable (6,891 ) (8,254 ) Trade and other accounts receivable, current 1,214,050 1,107,889 The fair value of trade and other accounts receivable does not differ significantly from the book value. The maturity of these accounts at the end of each period is as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Fully performing 1,040,671 907,358 Matured accounts receivable, but not impaired Expired from 1 to 90 days 34,153 27,651 Expired from 91 to 180 days 10,141 9,303 More than 180 days overdue (*) 2,922 1,567 Total matured accounts receivable, but not impaired 47,216 38,521 Matured accounts receivable and impaired Judicial, pre-judicial collection and protested documents 43,175 34,909 Debtor under pre-judicial collection process and portfolio sensitization 44,734 42,145 Total matured accounts receivable and impaired 87,909 77,054 Total 1,175,796 1,022,933 (*) Value of this segment corresponds primarily to accounts receivable that were evaluated in their ability to recover, therefore not requiring a provision. Currency balances that make up the Trade and other accounts receivable and non-current accounts receivable are the following: As of As of December 31, December 31, Currency 2017 2016 ThUS$ ThUS$ Argentine Peso 49,958 82,770 Brazilian Real 635,894 551,264 Chilean Peso 90,302 101,041 Colombian peso 3,249 16,454 Euro 48,286 21,923 US Dollar 257,324 312,394 Other currency (*) 135,928 30,297 Total 1,220,941 1,116,143 (*) Other currencies Australian Dollar 40,303 5,487 Chinese Yuan 37 271 Danish Krone 197 151 Pound Sterling 5,068 3,904 Indian Rupee 3,277 303 Japanese Yen 18,756 2,601 Norwegian Kroner 133 184 Swiss Franc 2,430 1,512 Korean Won 18,225 4,241 New Taiwanese Dollar 2,983 662 Other currencies 44,519 10,938 Total 135,928 30,254 The Company records allowances when there is evidence of impairment of trade receivables. The criteria used to determine that there is objective evidence of impairment losses are the maturity of the portfolio, specific acts of damage (default) and specific market signals. Maturity Impairment Judicial and pre-judicial collection assets 100 % Over 1 year 100 % Between 6 and 12 months 50 % Movement in the allowance for impairment loss of Trade and other accounts receivables are the following: Opening (Increase) Closing balance Write-offs Decrease balance Periods ThUS$ ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 (71,042 ) 10,120 850 (60,072 ) From January 1 to December 31, 2016 (60,072 ) 20,910 (37,892 ) (77,054 ) From January 1 to December 31, 2017 (77,054 ) 8,249 (19,104 ) (87,909 ) Once pre-judicial and judicial collection efforts are exhausted, the assets are written off against the allowance. The Company only uses the allowance method rather than direct write-off, to ensure control. Historic and current re-negotiations are not relevant and the policy is to analyze case by case in order to classify them according to the existence of risk, determining whether it is appropriate to re-classify accounts to pre-judicial recovery. If such re-classification is justified, an allowance is made for the account, whether overdue or falling due. The maximum credit-risk exposure at the date of presentation of the information is the fair value of each one of the categories of accounts receivable indicated above. As of December 31, 2017 As of December 31, 2016 Gross exposure Gross Exposure net Gross exposure Gross Exposure net according to impaired of risk according to Impaired of risk balance exposure concentrations balance exposure concentrations ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Trade accounts receivable 1,175,796 (87,909 ) 1,087,887 1,022,933 (77,054 ) 945,879 Other accounts receivable 133,054 - 133,054 170,264 - 170,264 There are no relevant guarantees covering credit risk and these are valued when they are settled; no materially significant direct guarantees exist. Existing guarantees, if appropriate, are made through IATA. |
ACCOUNTS RECEIVABLE FROM_PAYABL
ACCOUNTS RECEIVABLE FROM/PAYABLE TO RELATED ENTITIES | 12 Months Ended |
Dec. 31, 2017 | |
Trade and other receivables [abstract] | |
ACCOUNTS RECEIVABLE FROM/PAYABLE TO RELATED ENTITIES | NOTE 9 - ACCOUNTS RECEIVABLE FROM/PAYABLE TO RELATED ENTITIES (a) Accounts Receivable As of As of Country December 31, December 31, Tax No. Related party Relationship of origin Currency 2017 2016 ThUS$ ThUS$ Foreign Qatar Airways Indirect shareholder Qatar ThU$ 1,845 - 78.591.370-1 Bethia S.A. and Subsidiaries Related director Chile CLP 728 538 Foreign TAM Aviação Executiva e Taxi Aéreo S.A. Related director Brazil BRL 2 - 87.752.000-5 Granja Marina Tornagaleones S.A. Common shareholder Chile CLP 5 14 96.810.370-9 Inversiones Costa Verde Ltda. y CPA. Related director Chile CLP 2 2 Total current assets 2,582 554 (b) Accounts payable As of As of Country December 31, December 31, Tax No. Related party Relationship of origin Currency 2017 2016 ThUS$ ThUS$ 78.997.060-2 Viajes Falabella Ltda. Related director Chile CLP 534 46 78.591.370-1 Bethia S.A. and Subsidiaries Related director Chile CLP 12 6 Foreign Inversora Aeronáutica Argentina S.A. Related director Argentina ThUS$ 4 2 65.216.000-K Comunidad Mujer Related director Chile CLP - 13 Foreign Consultoría Administrativa Profesional S.A. de C.V. Related company México MXN 210 170 Foreign TAM Aviação Executiva e Taxi Aéreo S.A. Related director Brazil BRL - 28 79.773.440-3 Transportes San Felipe S.A Common property Chile CLP - 4 Total current liabilities 760 269 Transactions between related parties have been carried out on free-trade conditions between interested and duly-informed parties. The transaction times are between 30 and 45 days, and the nature of settlement of the transactions is monetary. |
INVENTORIES
INVENTORIES | 12 Months Ended |
Dec. 31, 2017 | |
Inventories Tables | |
INVENTORIES | NOTE 10 -INVENTORIES The composition of Inventories is as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Technical stock 195,530 191,864 Non-technical stock 41,136 49,499 Total 236,666 241,363 The items included in this heading are spare parts and materials that will be used mainly in consumption in in-flight and maintenance services provided to the Company and third parties, which are valued at average cost, net of provision for obsolescence, as per the following detail: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Provision for obsolescence Technical stock 21,839 31,647 Provision for obsolescenceNon-technical stock 6,488 3,429 Total 28,327 35,076 The resulting amounts do not exceed the respective net realization values. As of December 31, 2017, the Company recorded ThUS$ 155,421 (ThUS$ 167,365 at December 31, 2016) within the income statement, mainly due to in-flight consumption and maintenance, which forms part of Cost of sales. |
OTHER FINANCIAL ASSETS
OTHER FINANCIAL ASSETS | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous assets [abstract] | |
OTHER FINANCIAL ASSETS | NOTE 11 - OTHER FINANCIAL ASSETS The composition of other financial assets is as follows: Current Assets Non-current assets Total Assets As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ (a) Other financial assets Private investment funds 472,232 536,991 - - 472,232 536,991 Deposits in guarantee (aircraft) 15,690 16,819 41,058 56,846 56,748 73,665 Guarantees for margins of derivatives 2,197 939 - - 2,197 939 Other investments - - 494 522 494 522 Domestic and foreign bonds 1,421 - - - 1,421 - Other guarantees given 6,031 140,733 46,019 44,757 52,050 185,490 Other - 5,935 - - - 5,935 Subtotal of other financial assets 497,571 701,417 87,571 102,125 585,142 803,542 (b) Hedging assets Interest accrued since the last payment date of Cross currency swap 202 64 - - 202 64 Fair value of interest rate derivatives 3,113 - - - 3,113 - Fair value of foreign currency derivatives 48,322 1,259 519 - 48,841 1,259 Fair value of fuel price derivatives 10,711 10,088 - - 10,711 10,088 Subtotal of hedging assets 62,348 11,411 519 - 62,867 11,411 Total Other Financial Assets 559,919 712,828 88,090 102,125 648,009 814,953 The types of derivative hedging contracts maintained by the Company at the end of each period are described in Note 19. |
OTHER NON-FINANCIAL ASSETS
OTHER NON-FINANCIAL ASSETS | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous assets [abstract] | |
OTHER NON-FINANCIAL ASSETS | NOTE 12 - OTHER NON-FINANCIAL ASSETS The composition of other non-financial assets is as follows: Current assets Non-current assets Total Assets As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ (a) Advance payments Aircraft leases 31,322 37,560 4,718 14,065 36,040 51,625 Aircraft insurance and other 17,681 14,717 - - 17,681 14,717 Others 10,012 4,521 1,186 1,573 11,198 6,094 Subtotal advance payments 59,015 56,798 5,904 15,638 64,919 72,436 (b) Other assets Aircraft maintenance reserve (*) 21,505 51,576 51,836 90,175 73,341 141,751 Sales tax 137,866 102,351 37,959 40,232 175,825 142,583 Other taxes 2,475 500 - - 2,475 500 Contributions to Société Internationale de Télécommunications Aéronautiques ("SITA") 327 406 670 591 997 997 Judicial deposits - - 124,438 90,604 124,438 90,604 Others - 611 - 104 - 715 Subtotal other assets 162,173 155,444 214,903 221,706 377,076 377,150 Total Other Non - Financial Assets 221,188 212,242 220,807 237,344 441,995 449,586 (*) Aircraft maintenance reserves reflect prepayment deposits made by the group to lessors of certain aircraft under operating lease agreements in order to ensure that funds are available to support the scheduled heavy maintenance of the aircraft. These amounts are calculated based on performance measures, such as flight hours or cycles, are paid periodically (usually monthly) and are contractually required to be repaid to the lessee upon the completion of the required maintenance of the leased aircraft. At the end of the lease term, any unused maintenance reserves are either returned to the Company in cash or used to offset amounts that we may owe the lessor as a maintenance adjustment. In some cases (five lease agreements), if the maintenance cost incurred by LATAM is less than the corresponding maintenance reserves, the lessor is entitled to retain those excess amounts at the time the heavy maintenance is performed. The Company periodically reviews its maintenance reserves for each of its leased aircraft to ensure that they will be recovered, and recognizes an expense if any such amounts are less than probable of being returned. The cost of aircraft maintenance in the last years has been higher than the related maintenance reserves for all aircraft. As of December 31, 2017, maintenance reserves total ThUS $ 73,341 (ThUS $ 141,751 as of December 31, 2016), corresponding to 14 aircraft that maintain remaining balances, which will be settled in the next maintenance or return. Aircraft maintenance reserves are classified as current or non-current depending on the dates when the related maintenance is expected to be performed (Note 2.23) |
NON-CURRENT ASSETS AND DISPOSAL
NON-CURRENT ASSETS AND DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous assets [abstract] | |
NON-CURRENT ASSETS AND DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE | NOTE 13 - NON-CURRENT ASSETS AND DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE Non-current assets and in disposal groups held for sale at December 31, 2017 and December 31, 2016 are detailed below: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Current assets Aircraft 236,022 281,158 Engines and rotables 9,197 29,083 Other assets 45,884 26,954 Total 291,103 337,195 Current liabilities Other liabilities 15,546 10,152 Total 15,546 10,152 The balances are presented at the lower of book value and fair value less cost to sell. The fair value of these assets was determined based on quoted prices in active markets for similar assets or liabilities. This is a level II measurement as per the fair value hierarchy set out in note 3.3 (2). There were no transfers between levels for recurring fair value measurements during the year. (a) Assets reclassified from Property, plant and equipment to Non-current assets or groups of assets for disposal classified as held for sale During 2016, two Airbus A319 aircraft, two Airbus A320 aircraft, six Airbus A330 aircraft, two Boeing 777 aircraft, eight A330 spare engines, A330 rotables and two buildings under the heading Non-current assets were transferred from the Property, plant and equipment heading. or groups of assets for disposal, classified as held for sale. As a result, as of December 31, 2016, an adjustment of US $ 55 million was recorded to write down these assets to their net. During 2016, two Airbus A319 aircraft, one Airbus A320 aircraft, two Airbus A330 aircraft, one A330 spare engine and D200 rotables were sold. During 2017, an adjustment of US $ 17.4 million was recognized to record these assets at their net realizable value. In addition, during 2017 seven Airbus A330 Spare engines and two Airbus A330 aircraft were sold. The detail of fleet classified as non-current assets or groups of assets for disposal classified as held for sale is the following: As of As of December 31, December 31, Aircraft 2017 2016 Boeing 777 Freighter 2 (*) 2 (*) Airbus A330-200 1 3 Airbus A320-200 1 1 ATR42-300 1 1 Total 5 7 (*) One aircraft leased to DHL. (b) Assets reclassified from Inventories to Non-current assets or groups of assets for disposal classified as held for sale During in the first quarter of 2017, stocks of the fleet Airbus A330, were reclassified from Inventories to Non-current assets or groups of assets for disposal classified as held for sale. During 2017 an adjustment of US $ 1.3 million was recognized to record these assets at their net realizable value. In addition, during 2017 part of the A330 inventory was sold. |
INVESTMENTS IN SUBSIDIARIES
INVESTMENTS IN SUBSIDIARIES | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of subsidiaries [abstract] | |
INVESTMENTS IN SUBSIDIARIES | NOTE 14 - INVESTMENTS IN SUBSIDIARIES (a) Investments in subsidiaries The Company has investments in companies recognized as investments in subsidiaries. All the companies defined as subsidiaries have been consolidated within the financial statements of LATAM Airlines Group S.A. and Subsidiaries. The consolidation also includes special-purpose entities. Detail of significant subsidiaries and summarized financial information: Ownership As of As of Country of Functional December 31, December 31, Name of significant subsidiary incorporation currency 2017 2016 % % Lan Perú S.A. Peru US$ 70.00000 70.00000 Lan Cargo S.A. Chile US$ 99.89803 99.89803 Lan Argentina S.A. Argentina ARS 99.86560 99.86560 Transporte Aéreo S.A. Chile US$ 100.00000 100.00000 Aerolane Líneas Aéreas Nacionales del Ecuador S.A. Ecuador US$ 100.00000 100.00000 Aerovías de Integración Regional, AIRES S.A. Colombia COP 99.19061 99.19061 TAM S.A. Brazil BRL 99.99938 99.99938 The consolidated subsidiaries do not have significant restrictions for transferring funds to controller. Summary financial information of significant subsidiaries Results for the period Statement of financial position as of December 31, 2017 ended December 31, 2017 Total Current Non-current Total Current Non-current Net Name of significant subsidiary Assets Assets Assets Liabilities Liabilities Liabilities Revenue Income ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Lan Perú S.A. 315,607 294,308 21,299 303,204 301,476 1,728 1,046,423 1,205 Lan Cargo S.A. 584,169 266,836 317,333 371,934 292,529 79,405 264,544 (30,220 ) Lan Argentina S.A. 198,951 166,445 32,506 143,731 139,914 3,817 387,557 (41,636 ) Transporte Aéreo S.A. 324,498 30,909 293,589 104,357 36,901 67,456 317,436 2,172 Aerolane Líneas Aéreas Nacionales del Ecuador S.A. 96,407 66,166 30,241 84,123 78,817 5,306 219,039 3,722 Aerovías de Integración Regional, AIRES S.A. 138,138 64,160 73,978 91,431 80,081 11,350 279,414 526 TAM S.A. (*) 4,490,714 1,843,822 2,646,892 3,555,423 2,052,633 1,502,790 4,621,338 160,582 Statement of financial position as of December 31, 2016 Results for the period Total Current Non-current Total Current Non-current Net Name of significant subsidiary Assets Assets Assets Liabilities Liabilities Liabilities Revenue Income ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Lan Perú S.A. 306,111 283,691 22,420 294,912 293,602 1,310 967,787 (2,164 ) Lan Cargo S.A. 480,908 144,309 336,599 239,728 211,395 28,333 266,296 (24,813 ) Lan Argentina S.A. 216,331 194,306 22,025 200,172 197,330 2,842 371,896 (29,572 ) Transporte Aéreo S.A. 340,940 36,986 303,954 124,805 59,668 65,137 297,247 8,206 Aerolane Líneas Aéreas Nacionales del Ecuador S.A. 89,667 56,064 33,603 81,101 75,985 5,116 219,676 (1,281 ) Aerovías de Integración Regional, AIRES S.A. 129,734 55,132 74,602 85,288 74,160 11,128 277,503 (13,675 ) TAM S.A. (*) 5,287,286 1,794,189 3,493,097 4,710,308 2,837,620 1,872,688 4,145,951 2,107 Statement of financial position as of December 31, 2015 Results for the period Total Current Non-current Total Current Non-current Net Name of significant subsidiary Assets Assets Assets Liabilities Liabilities Liabilities Revenue Income ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Lan Perú S.A. 255,691 232,547 23,144 240,938 239,521 1,417 1,078,992 5,068 Lan Cargo S.A. 483,033 159,294 323,739 217,037 147,423 69,614 278,117 (74,408 ) Lan Argentina S.A. 195,756 180,558 15,198 170,384 168,126 2,258 443,317 9,432 Transporte Aéreo S.A. 331,117 41,756 289,361 122,666 44,495 78,171 324,464 5,878 Aerolane Líneas Aéreas Nacionales del Ecuador S.A. 126,001 80,641 45,360 116,153 111,245 4,908 246,402 (1,278 ) Aerovías de Integración Regional, AIRES S.A. 130,039 62,937 67,102 75,003 64,829 10,174 291,354 (34,079 ) TAM S.A. (*) 4,711,316 1,350,377 3,360,939 4,199,223 1,963,400 2,235,823 4,597,611 (183,812 ) (*) Correspond to consolidated information of TAM S.A. and Subsidiaries. (b) Non-controlling interest As of As of As of As of Country December 31, December 31, December 31, December 31, Equity Tax No. of origin 2017 2016 2017 2016 % % ThUS$ ThUS$ Lan Perú S.A 0-E Peru 30.00000 30.00000 3,722 3,360 Lan Cargo S.A. and Subsidiaries 93.383.000-4 Chile 0.10196 0.10196 849 957 Promotora Aérea Latinoamericana S.A. and Subsidiaries 0-E Mexico 51.00000 51.00000 4,578 3,162 Inversora Cordillera S.A. and Subsidiaries 0-E Argentina 0,13940 0.70422 3,502 515 Lan Argentina S.A. 0-E Argentina 0,02842 0.13440 79 (311 ) Americonsult de Guatemala S.A. 0-E Guatemala 1.00000 1.00000 1 1 Americonsult Costa Rica S.A. 0-E Costa Rica 1.00000 1.00000 12 12 Linea Aérea Carguera de Colombiana S.A. 0-E Colombia 10.00000 10.00000 (520 ) (905 ) Aerolíneas Regionales de Integración Aires S.A. 0-E Colombia 0.80944 0.80944 461 436 Transportes Aereos del Mercosur S.A. 0-E Paraguay 5.02000 5.02000 1,324 1,104 Multiplus S.A. 0-E Brazil 27.26000 27.26000 77,139 80,313 Total 91,147 88,644 As of As of As of For the period ended Country December 31, December 31, December 31, December 31, Incomes Tax No. of origin 2017 2016 2015 2017 2016 2015 % % % ThUS$ ThUS$ ThUS$ Lan Perú S.A 0-E Peru 30.00000 30.00000 30.00000 360 (649 ) 1,521 Lan Cargo S.A. and Subsidiaries 93.383.000-4 Chile 0.10196 0.10196 0.10605 (4 ) (7 ) (69 ) Promotora Aerea Latinoamericana S.A. and Subsidiaries 0-E Mexico 51.00000 51.00000 51.00000 1,416 96 1,349 Inversora Cordillera S.A. and Subsidiaries 0-E Argentina 0,13940 0.70422 0.70422 117 364 281 Lan Argentina S.A. 0-E Argentina 0,02842 0.13440 1.00000 24 77 61 Americonsult de Guatemala S.A. 0-E Guatemala 1.00000 1.00000 1.00000 - (4 ) 1 Americonsult Costa Rica S.A. 0-E Costa Rica 1.00000 1.00000 1.00000 - - 5 Linea Aérea Carguera de Colombiana S.A. 0-E Colombia 10.00000 10.00000 10.00000 398 (106 ) 14 Aerolíneas Regionales de Integración Aires S.A. 0-E Colombia 0.80944 0.80944 0.98307 4 (140 ) (335 ) Transportes Aereos del Mercosur S.A. 0-E Paraguay 5.02000 5.02000 5.02000 299 146 431 Multiplus S.A. 0-E Brazil 27.26000 27.26000 27.26000 42,796 41,673 37,283 Total 45,410 41,450 40,542 |
INTANGIBLE ASSETS OTHER THAN GO
INTANGIBLE ASSETS OTHER THAN GOODWILL | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of detailed information about intangible assets [abstract] | |
INTANGIBLE ASSETS OTHER THAN GOODWILL | NOTE 15 - INTANGIBLE ASSETS OTHER THAN GOODWILL The details of intangible assets are as follows: Classes of intangible assets Classes of intangible assets (net) (gross) As of As of As of As of December 31, December 31, December 31, December 31, 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Airport slots 964,513 978,849 964,513 978,849 Loyalty program 321,440 326,262 321,440 326,262 Computer software 160,970 157,016 509,377 419,652 Developing software 123,415 91,053 123,415 91,053 Trademarks (1) 46,909 57,133 62,539 63,730 Other assets - - - 808 Total 1,617,247 1,610,313 1,981,284 1,880,354 Movement in Intangible assets other than goodwill: Computer Trademarks software Developing Airport and loyalty Net software slots (2) program (1) (2) Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 126,797 74,050 1,201,028 478,204 1,880,079 Additions 4,954 48,270 - - 53,224 Withdrawals (4,612 ) (162 ) - (1 ) (4,775 ) Transfer software 28,726 (30,426 ) - - (1,700 ) Foreing exchange (14,871 ) (16,845 ) (384,041 ) (152,910 ) (568,667 ) Amortization (36,736 ) - - - (36,736 ) Closing balance as of December 31, 2015 104,258 74,887 816,987 325,293 1,321,425 Opening balance as of January 1, 2016 104,258 74,887 816,987 325,293 1,321,425 Additions 6,688 83,672 - - 90,360 Withdrawals (736 ) (191 ) - - (927 ) Transfer software 85,029 (74,376 ) - - 10,653 Foreing exchange 5,689 7,061 161,862 64,447 239,059 Amortization (43,912 ) - - (6,345 ) (50,257 ) Closing balance as of December 31, 2016 157,016 91,053 978,849 383,395 1,610,313 Opening balance as of January 1, 2017 157,016 91,053 978,849 383,395 1,610,313 Additions 8,453 78,880 - - 87,333 Withdrawals (244 ) (684 ) - - (928 ) Transfer software 45,783 (45,580 ) - - 203 Foreing exchange (1,215 ) (254 ) (14,336 ) (5,459 ) (21,264 ) Amortization (48,823 ) - - (9,587 ) (58,410 ) Closing balance as of December 31, 2017 160,970 123,415 964,513 368,349 1,617,247 (1) In 2016, after the extensive work of integration after the association between LAN and TAM, during which there has been solid progress in the homologation of the optimization processes of its air connections, in addition to the restructuring and modernization of the fleet of aircraft, the Company has resolved adopt a unique name and identity, and announce that the brand of the group will be LATAM ", which would unite all companies under a single image. Given the above, we have proceeded to review the brands useful life, concluding that these should go from an indefinite to defined useful life. The estimated new useful life is 5 years, equivalent to the period for finishing all the image changes necessary. (2) See Note 2.5 The amortization of the period is shown in the consolidated statement of income in administrative expenses. The accumulated amortization of computer programs and brands as of December 31, 2017, amounts to ThUS$ 373,463 (ThUS$ 270,041 at December 31, 2016). |
GOODWILL
GOODWILL | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of detailed information about intangible assets [abstract] | |
GOODWILL | NOTE 16 – GOODWILL The Goodwill amount at December 31, 2017 is ThUS$ 2,672,550 (ThUS$ 2,710,382 at December 31, 2016 and ThUS$ 2,280,575 at December 31, 2015). Movement of Goodwill separated by CGU it includes the following: Coalition Movement of Goodwill, separated by CGU: and loyalty Air program Transport Multiplus Total ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 2,658,503 654,898 3,313,401 Increase (decrease) due to exchange rate differences (823,415 ) (209,411 ) (1,032,826 ) Closing balance as of December 31, 2015 1,835,088 445,487 2,280,575 Opening balance as of January 1, 2016 1,835,088 445,487 2,280,575 Increase (decrease) due to exchange rate differences 341,813 88,261 430,074 Others (267 ) - (267 ) Closing balance as of December 31, 2016 2,176,634 533,748 2,710,382 Opening balance as of January 1, 2017 2,176,634 533,748 2,710,382 Increase (decrease) due to exchange rate differences (29,942 ) (7,890 ) (37,832 ) Others - - - Closing balance as of December 31, 2017 2,146,692 525,858 2,672,550 The Company has two cash- generating units (CGUs), “Air transportation” and, “Coalition and loyalty program Multiplus”. The CGU "Air transport" considers the transport of passengers and cargo, both in the domestic markets of Chile, Peru, Argentina, Colombia, Ecuador and Brazil, and in a developed series of regional and international routes in America, Europe and Oceania, while the CGU "Coalition and loyalty program Multiplus” works with an integrated network associated companies in Brazil. The recoverable amounts of cash-generating units have been determined based on value-in-use calculations. These calculations require the use of expected cash flows, 5 years after tax, which are based on the budget approved by the Board. Cash flows beyond the budget period are extrapolated using the estimated growth rates, which do not exceed the average rates of long-term growth. Management establish rates for annual growth, discount, inflation and exchange for each cash generating, as well as fuel prices, based on their key assumptions. The annual growth rate is based on past performance and management's expectations over market developments in each country where it operates. The discount rates used are in American Dollars for the CGU "Air transportation" and Brazilian Reals for CGU "Program coalition loyalty Multiplus", both after taxes and reflect specific risks related to each country where the Company operates. Inflation and exchange rates are based on available data for each country and the information provided by the Central Bank of each country, and the fuel price is determined based on estimated production levels, competitive environment market in which they operate and its business strategy. As of December 31, 2017 the recoverable values were determined using the following assumptions presented below: Air transportation Coalition and loyalty CGU program Multiplus CGU (2) Annual growth rate (Terminal) % 1.0 - 2.0 4.0 - 5.0 Exchange rate (1) R$/US$ 3.3 - 3.9 3.3 - 3.9 Discount rate based on the weighted average cost of capital (WACC) % 7.55 - 8.55 - Discount rate based on cost of equity (Ke) % - 12.4 - 13.4 Fuel Price from futures price curves commodities markets US$/barrel 73-78 - (1) In line with the expectations of the Central Bank of Brazil (2) The flow, as well as annual growth rte and discount, are denominated in real. The result of the impairment test, which includes a sensitivity analysis of the main variables, showed that the estimated recoverable amount is higher than carrying value of the book value of net assets allocated to the cash generating unit, and therefore impairment was not detected. CGU´s are sensitive to rates for annual growth, discount and exchanges rates. The sensitivity analysis included the individual impact of changes in estimates critical in determining the recoverable amounts, namely: Decrease Increase Increase Minimum Maximum Maximum terminal WACC CoE growth rate % % % Air transportation CGU 8.55 - 1.0 Coalition and loyalty program Multiplus CGU - 13.4 4.0 In none of the previous cases impairment in the cash- generating unit was presented. |
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2017 | |
Property, plant and equipment [abstract] | |
PROPERTY, PLANT AND EQUIPMENT | NOTE 17 - PROPERTY, PLANT AND EQUIPMENT The composition by category of Property, plant and equipment is as follows: Gross Book Value Acumulated depreciation Net Book Value As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Construction in progress (*) 556,822 470,065 - - 556,822 470,065 Land 49,780 50,148 - - 49,780 50,148 Buildings 190,552 190,771 (66,004 ) (60,552 ) 124,548 130,219 Plant and equipment 9,222,540 10,099,587 (2,390,142 ) (2,350,045 ) 6,832,398 7,749,542 Own aircraft 8,544,185 9,436,684 (2,138,612 ) (2,123,025 ) 6,405,573 7,313,659 Other (**) 678,355 662,903 (251,530 ) (227,020 ) 426,825 435,883 Machinery 39,084 39,246 (29,296 ) (26,821 ) 9,788 12,425 Information technology equipment 166,713 163,695 (136,557 ) (123,981 ) 30,156 39,714 Fixed installations and accessories 186,989 178,363 (106,212 ) (94,451 ) 80,777 83,912 Motor vehicles 70,290 96,808 (58,812 ) (67,855 ) 11,478 28,953 Leasehold improvements 186,679 192,100 (102,454 ) (87,559 ) 84,225 104,541 Other property, plants and equipment 3,640,838 3,005,981 (1,355,475 ) (1,177,351 ) 2,285,363 1,828,630 Financial leasing aircraft 3,551,041 2,905,556 (1,328,421 ) (1,152,190 ) 2,222,620 1,753,366 Other 89,797 100,425 (27,054 ) (25,161 ) 62,743 75,264 Total 14,310,287 14,486,764 (4,244,952 ) (3,988,615 ) 10,065,335 10,498,149 (*) As of December 31, 2017, includes pre-delivery payments to aircraft manufacturers for ThUS$ 543,720 (ThUS$ 434,250 as of December 31, 2016) (**) Mainly considers rotable and tools. (a) Movement in the different categories of Property, plant and equipment: Other Information Fixed property, Property, Plant and technology installations Motor Leasehold plant and Plant and Construction Buildings equipment equipment & accessories vehicles improvements equipment equipment in progress Land net net net net net net net net ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 937,279 57,988 167,006 6,954,089 51,009 43,783 1,965 56,523 2,503,434 10,773,076 Additions 39,711 - 439 1,304,199 15,322 1,692 280 13,188 64,226 1,439,057 Disposals - - (500 ) (76,675 ) (1) (27 ) - (8 ) - (11 ) (77,221 ) Retirements (1,262 ) - (956 ) (38,240 ) (104 ) (476 ) (4 ) - (8,902 ) (49,944 ) Depreciation expenses - - (7,161 ) (521,688 ) (16,196 ) (11,649 ) (378 ) (13,973 ) (174,474 ) (745,519 ) Foreing exchange (932 ) (11,786 ) (18,248 ) (129,933 ) (6,126 ) (13,269 ) (638 ) (1,659 ) (252,709 ) (435,300 ) Other increases (decreases) 168,016 (889 ) (49,089 ) (150,677 ) 11 68,877 308 9 (2,058 ) 34,508 Changes, total 205,533 (12,675 ) (75,515 ) 386,986 (7,120 ) 45,175 (440 ) (2,435 ) (373,928 ) 165,581 Closing balance as of December 31, 2015 1,142,812 45,313 91,491 7,341,075 43,889 88,958 1,525 54,088 2,129,506 10,938,657 Opening balance as of January 1, 2016 1,142,812 45,313 91,491 7,341,075 43,889 88,958 1,525 54,088 2,129,506 10,938,657 Additions 14,481 - 272 1,301,093 7,392 292 6 54,181 13,013 1,390,730 Disposals - - - (16,918 ) (2) (59 ) - (32 ) - (2,972 ) (19,981 ) Retirements (284 ) - (68 ) (39,816 ) (55 ) (1,258 ) - - (2,604 ) (44,085 ) Depreciation expenses - - (6,234 ) (562,131 ) (14,909 ) (13,664 ) (293 ) (23,283 ) (124,038 ) (744,552 ) Foreing exchange 5,081 4,835 2,538 51,770 2,924 9,384 223 2,849 93,383 172,987 Other increases (decreases) (692,025 ) - 42,220 (285,198 ) (3) 532 200 (384 ) 16,706 (277,658 ) (1,195,607 ) Changes, total (672,747 ) 4,835 38,728 448,800 (4,175 ) (5,046 ) (480 ) 50,453 (300,876 ) (440,508 ) Closing balance as of December 31, 2016 470,065 50,148 130,219 7,789,875 39,714 83,912 1,045 104,541 1,828,630 10,498,149 Opening balance as of January 1, 2017 470,065 50,148 130,219 7,789,875 39,714 83,912 1,045 104,541 1,828,630 10,498,149 Additions 11,145 - - 258,615 5,708 329 77 8,156 41,483 325,513 Disposals - - - (16,004 ) (6 ) (10 ) (43 ) - (27 ) (16,090 ) Retirements (127 ) - (6 ) (24,341 ) (473 ) (497 ) - - (1,610 ) (27,054 ) Depreciation expenses - - (7,946 ) (496,857 ) (14,587 ) (14,124 ) (187 ) (27,266 ) (204,237 ) (765,204 ) Foreing exchange 107 (368 ) (275 ) (4,603 ) (183 ) (820 ) (8 ) (243 ) (5,113 ) (11,506 ) Other increases (decreases) 75,632 - 2,556 (653,457 ) (17 ) 11,987 (448 ) (963 ) 626,237 61,527 Changes, total 86,757 (368 ) (5,671 ) (936,647 ) (9,558 ) (3,135 ) (609 ) (20,316 ) 456,733 (432,814 ) Closing balance as of December 31, 2017 556,822 49,780 124,548 6,853,228 30,156 80,777 436 84,225 2,285,363 10,065,335 (1) During the first half of 2015 three Airbus A340 aircraft were sold. During the second half of 2015 seven Dash-200 aircraft were sold. During the second half of 2015 two Airbus A319 aircraft were sold. (2) During 2016 the sale of two Airbus A330 aircraft was materialized. (3) During 2016 the reclassification to non-current assets or groups of assets for disposal classified as held for sale (see Note 13) of two Airbus A319 aircraft, two Airbus A320 aircraft, six Airbus A330 aircraft and two Boeing 777 aircraft was materialized. (b) Composition of the fleet: Aircraft included in Property, Operating Total plant and equipment leases fleet As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, Aircraft Model 2017 2016 2017 2016 2017 2016 Boeing 767 300ER 34 34 2 3 36 37 Boeing 767 300F 8 (1) 8 (1) 2 3 10 (1) 11 (1) Boeing 777 300ER 4 4 6 6 10 10 Boeing 777 Freighter - - - 2 - 2 Boeing 787 800 6 6 4 4 10 10 Boeing 787 900 4 4 10 8 14 12 Airbus A319 100 37 36 9 12 46 48 Airbus A320 200 93 (2) 93 38 53 131 (2) 146 Airbus A320 NEO 1 1 3 1 4 2 Airbus A321 200 30 30 17 17 47 47 Airbus A350 900 5 (3) 5 2 (3) 2 7 (3) 7 Total 222 221 93 111 315 332 (1) Two aircraft leased to FEDEX as of December 2017; three aircraft as of December 2016. (2) Three aircraft leased to Salam Air and one to Sundair (3) Four aircraft leased to Qatar Air. Two in operating leases and two in Properties, plant and equipment. (c) Method used for the depreciation of Property, plant and equipment: Useful life (years) Method minimum maximum Buildings Straight line without residual value 20 50 Plant and equipment Straight line with residual value of 20% in the short-haul fleet and 36% in the long-haul fleet. (*) 5 23 Information technology equipment Straight line without residual value 5 10 Fixed installations and accessories Straight line without residual value 10 10 Motor vehicle Straight line without residual value 10 10 Leasehold improvements Straight line without residual value 5 5 Other property, plant and equipment Straight line with residual value of 20% in the short-haul fleet and 36% in the long-haul fleet. (*) 10 23 (*) Except for the Boeing 767 300ER and Boeing 767 300F fleets which consider a lower residual value due to the extension of their useful life to 22 and 23 years respectively. Additionally certain technical components, which are depreciated based on the basis of cycles and flight hours. The aircraft with remarketing clause (**) under modality of financial leasing, which are depreciated according to the duration of their contracts, between 12 and 18 years. Its residual values are estimated according to market value at the end of such contracts. (**) Aircraft with remarketing clause are those that are required to sell at the end of the contract. As of December 31, 2017, the deferred charge for the period, which is included in the consolidated statement of income, amounts to ThUS $ 765,204 (ThUS $ 744,552 as of December 31, 2016). This charge is recognized in the items of cost of sales and administrative expenses of the consolidated statement of income. (d) Additional information regarding Property, plant and equipment: (i) Property, plant and equipment pledged as guarantee: Description of Property, plant and equipment pledged as guarantee: As of As of December 31, December 31, 2017 2016 Guarantee Assets Existing Book Existing Book agent (*) committed Fleet Debt Value Debt Value ThUS$ ThUS$ ThUS$ ThUS$ Wilmington Aircraft and engines Airbus A321 / A350 637,934 721,602 596,224 722,979 Trust Company Boeing 767 593,655 888,948 811,723 1,164,364 Boeing 787 720,267 842,127 739,031 899,445 - - Banco Santander S.A. Aircraft and engines Airbus A319 - - 50,671 91,889 Airbus A320 199,165 291,649 462,950 709,788 Airbus A321 29,296 40,584 32,853 44,227 - - BNP Paribas Aircraft and engines Airbus A319 84,767 136,407 134,346 228,384 Airbus A320 110,267 175,650 128,173 181,838 - Credit Agricole Aircraft and engines Airbus A319 20,874 38,826 26,014 37,389 Airbus A320 46,895 98,098 71,794 144,157 Airbus A321 30,322 85,463 40,609 93,110 - - - Wells Fargo Aircraft and engines Airbus A320 224,786 306,660 252,428 333,419 - Bank of Utah Aircraft and engines Airbus A320 / A350 614,632 666,665 670,826 709,280 - - Natixis Aircraft and engines Airbus A320 34,592 72,388 45,748 66,738 Airbus A321 378,418 481,397 377,104 514,625 - - Citibank N. A. Aircraft and engines Airbus A320 94,882 141,817 111,243 166,370 Airbus A321 36,026 72,741 42,867 70,166 - - KfW IPEX-Bank Aircraft and engines Airbus A319 5,592 5,505 7,494 6,360 Airbus A320 21,296 30,513 28,696 36,066 Airbus Financial Services Aircraft and engines Airbus A319 22,927 26,973 30,199 33,823 PK AirFinance US, Inc. Aircraft and engines Airbus A320 46,500 56,539 54,786 46,341 JP Morgan Aircraft and engines Boeing 777 (1) 169,674 216,000 192,671 236,400 Banco BBVA Land and buildings (2) 55,801 66,876 50,381 69,498 Total direct guarantee 4,178,568 5,463,428 4,958,831 6,606,656 (*) Due to the characteristics of a syndicated loan, the guarantee agent is the representative of the creditors. (1) These assets are classified under Non-current assets and disposal group classified as held for sale (2) Corresponds to a debt classified in item loans to exporters (see Note 19). The amounts of existing debt are presented at nominal value. Book value corresponds to the carrying value of the goods provided as guarantees. Additionally, there are indirect guarantees related to assets recorded in Property, plant and equipment whose total debt at December 31, 2017 amounted to ThUS$ 1,087,052 (ThUS$ 913,494 at December 31, 2016). The book value of assets with indirect guarantees as of December 31, 2017 amounts to ThUS$ 2,222,620 (ThUS$ 1,740,815 as of December 31, 2016). (ii) Commitments and others Fully depreciated assets and commitments for future purchases are as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Gross book value of fully depreciated property, plant and equipment still in use 136,811 116,386 Commitments for the acquisition of aircraft (*) 15,400,000 15,100,000 (*) Acording to the manufacturer’s price list. Purchase commitment of aircraft Year of delivery Manufacturer 2018 2019 2020 2021 2022 Total Airbus S.A.S. 13 11 16 21 11 72 A320-NEO 7 3 9 8 5 32 A321 - 1 - - - 1 A321-NEO 2 3 5 5 4 19 A350-1000 - - 2 8 2 12 A350-900 4 4 - - - 8 The Boeing Company - 6 2 2 - 10 Boeing 777 - 2 - - - 2 Boeing 787-9 - 4 2 2 - 8 Total 13 17 18 23 11 82 As of December 31, 2017, as a result of the different aircraft purchase agreements signed with Airbus SAS, there remain 52 Airbus aircraft of the A320 family, with deliveries between 2018 and 2022, and 20 Airbus aircraft of the A350 family with dates of delivery between 2018 and 2022. The approximate amount is ThUS$ 12,600,000, according to the manufacturer’s price list. As of December 31, 2017, as a result of the different aircraft purchase agreements signed with The Boeing Company, there are 8 Boeing 787 Dreamliner aircraft remaining, with delivery dates between 2019 and 2021, and 2 Boeing 777 aircraft, with delivery scheduled for the year 2019. The approximate amount, according to the manufacturer's list prices, is ThUS $ 2,800,000. (iii) Capitalized interest costs with respect to Property, plant and equipment. For the periods ended December 31, 2017 2016 2015 Average rate of capitalization of capitalized interest costs % 4.21 3.54 2.79 Costs of capitalized interest ThUS$ 11,053 (696 ) 22,551 (iv) Financial leases The detail of the main financial leases is as follows: As of As of December 31, December 31, Lessor Aircraft Model 2017 2016 Bandurria Leasing Limitd Airbus A319 100 3 - Bandurria Leasing Limitd Airbus A320 200 4 - Becacina Leasing LLC Boeing 767 300ER 1 1 Caiquen Leasing LLC Boeing 767 300F 1 1 Cernicalo Leasing LLC Boeing 767 300F - 2 Cisne Leasing LLC Boeing 767 300ER 2 2 Codorniz Leasing Limited Airbus A319 100 - 2 Conure Leasing Limited Airbus A320 200 2 2 Flamenco Leasing LLC Boeing 767 300ER 1 1 FLYAFI 1 S.R.L. Boeing 777 300ER 1 1 FLYAFI 2 S.R.L. Boeing 777 300ER 1 1 FLYAFI 3 S.R.L. Boeing 777 300ER 1 1 Garza Leasing LLC Boeing 767 300ER 1 1 General Electric Capital Corporation Airbus A330 200 - 3 Intraelo BETA Corpotation (KFW) Airbus A320 200 - 1 Jilguero Leasing LLC Boing B767 300ER 3 - Loica Leasing Limited Airbus A319 100 2 2 Loica Leasing Limited Airbus A320 200 2 2 Mirlo Leasing LLC Boeing 767 300ER 1 1 NBB Rio de Janeiro Lease CO and Brasilia Lease LLC (BBAM) Airbus A320 200 1 1 NBB São Paulo Lease CO. Limited (BBAM) Airbus A321 200 1 1 Osprey Leasing Limited Airbus A319 100 8 8 Patagon Leasing Limited Airbus A319 100 3 - Petrel Leasing LLC Boeing 767 300ER 1 1 Pilpilen Leasing Limited Airbus A320 200 - 4 Pochard Leasing LLC Boeing 767 300ER 2 2 Quetro Leasing LLC Boeing 767 300ER 3 3 SG Infraestructure Italia S.R.L. Boeing 777 300ER 1 1 SL Alcyone LTD (Showa) Airbus A320 200 1 1 Torcaza Leasing Limited Airbus A320 200 8 - Tricahue Leasing LLC Boeing 767 300ER 3 3 Wacapou Leasing S.A Airbus A320 200 1 1 Wells Fargo Bank North National Association Airbus A319 100 1 - Total 60 50 Financial leasing contracts where the Company acts as the lessee of aircrafts establish duration between 12 and 18 year terms and semi-annual, quarterly and monthly payments of obligations. Additionally, the lessee will have the obligation to contract and maintain active the insurance coverage for the aircrafts, perform maintenance on the aircrafts and update the airworthiness certificates at their own cost. The assets acquired under the financial leasing modality are classified under Other property, plant and equipment. As of December 31, 2017, the Company registered sixty aircraft under this modality (fifty aircraft as of December 31, 2016). The book value of assets under financial leases as of December 31, 2017 amounts to ThUS$ 2,107,526 (ThUS$ 1,753,366 at December 31, 2016). The minimum payments under financial leases are as follows: As of December 31, 2017 As of December 31, 2016 As of December 31, 2015 Gross Present Gross Present Gross Present Value Interest Value Value Interest Value Value Interest Value ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ No later than one year 303,863 (32,447 ) 271,416 285,168 (32,365 ) 252,803 360,862 (47,492 ) 313,370 Between one and five years 835,696 (30,050 ) 805,646 704,822 (43,146 ) 661,676 1,003,237 (75,363 ) 927,874 Over five years 36,788 (816 ) 35,972 43,713 (120 ) 43,593 95,050 (1,406 ) 93,644 Total 1,176,347 (63,313 ) 1,113,034 1,033,703 (75,631 ) 958,072 1,459,149 (124,261 ) 1,334,888 |
CURRENT AND DEFERRED TAXES
CURRENT AND DEFERRED TAXES | 12 Months Ended |
Dec. 31, 2017 | |
Major components of tax expense (income) [abstract] | |
CURRENT AND DEFERRED TAXES | NOTE 18 - CURRENT AND DEFERRED TAXES In the period ended December 31, 2017, the income tax provision was calculated for such period, applying the rate of 25.5% for the business year 2017, in accordance with the Law No. 20,780 published in the Official Journal of the Republic of Chile on September 29, 2014. Among the main changes is the progressive increase of the First Category Tax which will reach 27% in 2018 if the "Partially Integrated Taxation System" is chosen. Alternatively, if the Company chooses the "Attributed Income Taxation System" the top rate would reach 25% in 2017. As LATAM Airlines Group S.A. is a public company, by default it must choose the "Partially Integrated Taxation System", unless a future Extraordinary Meeting of Shareholders of the Company agrees, by a minimum of 2/3 of the votes, to choose the "Attributed Income Taxation System". This decision was taken in the last quarter of 2016. On February 8, 2016, an amendment to the abovementioned Law was issued (as Law 20,899) stating, as its main amendments, that Companies such Latam Airlines Group S.A. had to mandatorily choose the "Partially Integrated Taxation System" and could not elect to use the other system. The Partially Integrated Taxation System is based on the taxation by the perception of profits and the Attributed Income Taxation System is based on the taxation by the accrual of profits. Assets and deferred tax liabilities are offset if there is a legal right to offset the assets and liabilities always correspond to the same entity and tax authority. (a) Current taxes (a.1) The composition of the current tax assets is the following: Current assets Non-current assets Total assets As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Provisional monthly payments (advances) 65,257 43,821 - - 65,257 43,821 Other recoverable credits 12,730 21,556 17,532 20,272 30,262 41,828 Total assets by current tax 77,987 65,377 17,532 20,272 95,519 85,649 (a.2) The composition of the current tax liabilities are as follows: Current liabilities Non-current liabilities Total liabilities As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Income tax provision 3,511 9,632 - - 3,511 9,632 Additional tax provision - 4,654 - - - 4,654 Total liabilities by current tax 3,511 14,286 - - 3,511 14,286 (b) Deferred taxes The balances of deferred tax are the following: Assets Liabilities As of As of As of As of December 31, December 31, December 31, December 31, Concept 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Depreciation 210,855 11,735 1,401,277 1,387,760 Leased assets (103,201 ) (35,922 ) 275,142 203,836 Amortization (484 ) (15,820 ) 54,335 61,660 Provisions (9,771 ) 222,253 690 (59,096 ) Revaluation of financial instruments (734 ) - (4,484 ) (3,223 ) Tax losses 290,973 202,536 (1,188,586 ) (1,126,200 ) Intangibles - - 406,536 430,705 Others (23,617 ) (202 ) 4,787 20,317 Total 364,021 384,580 949,697 915,759 The balance of deferred tax assets and liabilities are composed primarily of temporary differences to be reversed in the long term. Movements of Deferred tax assets and liabilities (a) From January 1 to December 31, 2015 Opening Recognized in Recognized in Exchange Ending balance consolidated comprehensive rate balance Assets/(liabilities) income income variation Others Asset (liability) ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Depreciation (871,640 ) (267,891 ) - 8,540 - (1,130,991 ) Leased assets (185,775 ) (73,330 ) - 7,803 - (251,302 ) Amortization (160,100 ) 84,330 - 4,606 - (71,164 ) Provisions 351,077 150,362 3,911 (126,813 ) - 378,537 Revaluation of financial instruments 12,806 19,760 (21,103 ) (3,179 ) - 8,284 Tax losses (*) 722,749 320,397 - (33,364 ) - 1,009,782 Intangibles (523,275 ) (8,362 ) - 167,323 - (364,314 ) Others 9,587 45,638 - (62,182 ) (6,845 ) (13,802 ) Total (644,571 ) 270,904 (17,192 ) (37,266 ) (6,845 ) (434,970 ) (b) From January 1 to December 31, 2016 Opening Recognized in Recognized in Exchange Ending balance consolidated comprehensive rate balance Assets/(liabilities) income income variation Others Asset (liability) ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Depreciation (1,130,991 ) (241,435 ) - (3,599 ) - (1,376,025 ) Leased assets (251,302 ) 14,833 - (3,289 ) - (239,758 ) Amortization (71,164 ) (4,375 ) - (1,941 ) - (77,480 ) Provisions 378,537 (149,969 ) 921 53,448 (1,568 ) 281,369 Revaluation of financial instruments 8,284 28,294 (34,695 ) 1,340 - 3,223 Tax losses (*) 1,009,782 304,892 - 14,062 - 1,328,736 Intangibles (364,314 ) 4,131 - (70,522 ) - (430,705 ) Others (13,802 ) (30,185 ) - 22,234 1,214 (20,539 ) Total (434,970 ) (73,814 ) (33,774 ) 11,733 (354 ) (531,179 ) (c) From January 1 to December 31, 2017 Opening Recognized in Recognized in Exchange Ending balance consolidated comprehensive rate balance Assets/(liabilities) income income variation Asset (liability) ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Depreciation (1,376,025 ) 185,282 - 322 (1,190,421 ) Leased assets (239,758 ) (138,879 ) - 294 (378,343 ) Amortization (77,480 ) 22,486 - 174 (54,820 ) Provisions 281,369 (286,267 ) (785 ) (4,778 ) (10,461 ) Revaluation of financial instruments 3,223 2,417 (1,770 ) (120 ) 3,750 Tax losses (*) 1,328,736 152,081 - (1,257 ) 1,479,560 Intangibles (430,705 ) 24,436 - (267 ) (406,536 ) Others (20,539 ) (7,547 ) - (319 ) (28,405 ) Total (531,179 ) (45,991 ) (2,555 ) (5,951 ) (585,676 ) Deferred tax assets not recognized: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Tax losses 81,155 115,801 Total Deferred tax assets not recognized 81,155 115,801 Deferred tax assets on tax loss, are recognized to the extent that it is likely probable the realization of future tax benefit By the above at December 31, 2017, the Company has not recognized deferred tax assets of ThUS$ 81,155 (ThUS$ 115,801 at December 31, 2016) according with a loss of ThUS$ 247,920 (ThUS$ 340,591 at December 31, 2016). Deferred tax expense and current income taxes: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Current tax expense Current tax expense 127,024 87,307 92,916 Adjustment to previous period’s current tax 489 2,083 (395 ) Total current tax expense, net 127,513 89,390 92,521 Deferred tax expense Deferred expense for taxes related to the creation and reversal of temporary differences 45,991 73,814 (270,904 ) Reduction (increase) in value of deferred tax assets during the evaluation of its usefulness - - - Total deferred tax expense, net 45,991 73,814 (270,904 ) Income tax expense 173,504 163,204 (178,383 ) Composition of income tax expense (income): For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Current tax expense, net, foreign 100,657 80,600 89,460 Current tax expense, net, Chile 26,856 8,790 3,061 Total current tax expense, net 127,513 89,390 92,521 Deferred tax expense, net, foreign 21,846 119,175 (280,445 ) Deferred tax expense, net, Chile 24,145 (45,361 ) 9,541 Deferred tax expense, net, total 45,991 73,814 (270,904 ) Income tax expense 173,504 163,204 (178,383 ) Profit before tax by the legal tax rate in Chile (25.5% and 24.0% at December 31, 2017 and 2016, respectively) For the period ended For the period ended December 31, December 31, 2017 2016 2015 2017 2016 2015 ThUS$ ThUS$ ThUS$ % % % Tax expense using the legal rate (*) 95,425 65,449 (89,472 ) 25.50 24.00 22.50 Tax effect by change in tax rate (*) 897 - - 0.24 - - Tax effect of rates in other jurisdictions 42,326 16,333 (21,803 ) 11.31 5.99 5.48 Tax effect of non-taxable operating revenues (44,593 ) (62,419 ) (106,381 ) (11.92 ) (22.89 ) 26.75 Tax effect of disallowable expenses 35,481 132,469 38,677 9.48 48.58 (9.73 ) Tax effect of the use of tax losses not previously recognized 211 - - 0.06 - - Other increases (decreases) in legal tax charge 43,757 11,372 596 11.69 4.17 (0.15 ) Total adjustments to tax expense using the legal rate 78,079 97,755 (88,911 ) 20.86 35.85 22.35 Tax expense using the effective rate 173,504 163,204 (178,383 ) 46.36 59.85 44.85 (*) On September 29, 2014, Law No. 20,780 "Amendment to the system of income taxation and introduces various adjustments in the tax system." was published in the Official Journal of the Republic of Chile. Within major tax reforms that this law contains, the First- Category Tax rate is gradually modified from 2014 to 2018 and should be declared and paid in tax year 2015. Thus, at December 31, 2017 the Company presents the reconciliation of income tax expense and legal tax rate considering the rate increase. Deferred taxes related to items charged to net equity: For the period ended December 31, 2017 2016 ThUS$ ThUS$ Aggregate deferred taxation of components of other comprehensive income (2,555 ) (33,774 ) Aggregate deferred taxation related to items charged to net equity - (807 ) |
OTHER FINANCIAL LIABILITIES
OTHER FINANCIAL LIABILITIES | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous liabilities [abstract] | |
OTHER FINANCIAL LIABILITIES | NOTE 19 - OTHER FINANCIAL LIABILITIES The composition of other financial liabilities is as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Current (a) Interest bearing loans 1,288,749 1,814,647 (b) Hedge derivatives 12,200 24,881 Total current 1,300,949 1,839,528 Non-current (a) Interest bearing loans 6,602,891 6,790,273 (b) Hedge derivatives 2,617 6,679 Total non-current 6,605,508 6,796,952 (a) Interest bearing loans Obligations with credit institutions and debt instruments: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Current Loans to exporters 314,618 278,164 Bank loans (1) 59,017 290,810 Guaranteed obligations 531,173 578,014 Other guaranteed obligations 2,170 1,908 Subtotal bank loans 906,978 1,148,896 Obligation with the public (2) 14,785 312,043 Financial leases 276,541 268,040 Other loans 90,445 85,668 Total current 1,288,749 1,814,647 As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Non-current Bank loans 260,433 294,477 Guaranteed obligations (3) 3,505,669 4,180,538 Other guaranteed obligations 240,007 254,512 Subtotal bank loans 4,006,109 4,729,527 Obligation with the public (4) (5) (6) 1,569,281 997,302 Financial leases 832,964 754,321 Other loans 194,537 309,123 Total non-current 6,602,891 6,790,273 Total obligations with financial institutions 7,891,640 8,604,920 (1) On September 29, 2016 TAM Linhas Aéreas S.A. obtained financing for US$ 200 million, guaranteed with 18% of the shares of Multiplus S.A., percentage adjustable depending on the shares price. Additionally, TAM obtained a hedging economic (Cross Currency Swap) for the same amount and period, in order to convert the commitment currency from US$ to BRL. On March 30, 2017, TAM Linhas Aéreas S.A. restructured the financing mentioned in the previous paragraph, modifying the nominal amount of the transaction to US $ 137 million. On September 27, 2017, TAM Linhas Aéreas S.A. made the payment of capital plus interest corresponding to the last installment of the financing described above. Simultaneously, all the garments were lifted on the shares of Multiplus S.A. delivered as collateral. (2) On April 25, 2017, the payment of the principal plus interest on the long-term bonds issued by the company TAM Capital Inc. for an amount of US$ 300,000,000 at an interest rate of 7.375% annual. The payment consisted of 100% of the capital, US$ 300,000,000, and interest accrued as of the date of payment for ThUS $ 11,063. (3) On April 10, 2017, the issuance and private placement of debt securities in the amount of US$ 140,000,000 was made under the current structure of the Enhanced Equipment Trust Certificates ("EETC") issued and placed the year 2015 to finance the acquisition of eleven Airbus A321-200, two Airbus A350-900 and four Boeing 787-9 with arrivals between July 2015 and April 2016. The offer is made up of Class C Certificates, which are subordinate to the Current Class A Certificates and Class B Certificates held by the Company. The term of the Class C Certificates is six years and expires in 2023. (4) On April 11, 2017, LATAM Finance Limited, a company incorporated in the Cayman Islands with limited liability and exclusively owned by LATAM Airlines Group SA, has issued and placed on the international market, pursuant to Rule 144 -A and Regulation S of the securities laws of the United States of America, long-term unsecured bonds in the amount of US$ 700,000,000, maturing in 2024 at an annual interest rate of 6.875%. As reported in the essential fact of April 6, 2017, the Issue and placement of the 144-A Bonds was intended to finance general corporate purposes of LATAM. (5) On August 17, 2017, LATAM made the placement in the local market (Santiago Stock Exchange) of the Series A Bonds (BLATM-A), Series B (BLATM-B), Series C (BLATM-) C) and Series D (BLATM-D), which correspond to the first issue of bonds charged to the line inscribed in the Securities Registry of the Commission for the Financial Market (“CMF”), under number 862 for a total of UF 9,000,000. The total amount placed of the Series A Bond was UF 2,500,000; The total amount placed of the Series B Bond was UF 2,500,000. The total amount placed of the Series C Bond was UF 1,850,000. The total amount placed of the Series D Bond was UF 1,850,000, thus totaling UF 8,700,000. The Series A Bonds have an expiration date on June 1, 2022 and an annual interest rate of 5.25%. The Series B Bonds have an expiration date on January 1, 2028 and an annual interest rate of 5.75%. The Series C Bonds have an expiration date on June 1, 2022 and an annual interest rate of 5.25%. The Series D Bonds have an expiration date on January 1, 2028 and an annual interest rate of 5.75%. The proceeds of the placement of the Series A, Series B, Series C and Series D Bonds were allocated in full to the partial financing of the early redemption of the total bonds of TAM Capital 3 inc. (6) On September 1, 2017, TAM Capital 3 Inc., a company controlled indirectly by TAM S.A. through its subsidiary TAM Linhas Aéreas SA, which consolidates its financial statements with LATAM, made the full advance redemption of the bonds it placed abroad on June 3, 2011, for an amount of US $ 500 million at a 8.375% rate and with an expiration date on June 3, 2021. The total redemption was partially financed with the placement of bonds in the local market described in number (5) above, and the balance, with other funds available from the Company. All interest-bearing liabilities are recorded according to the effective rate method. Under IFRS, in the case of fixed rate loans, the effective rate determined does not vary over the duration of the loan, whereas in variable rate loans, the effective rate changes to the date of each payment of interest. Currency balances that make the interest bearing loans: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Currency Brazilian real 130 1,253 Chilean peso (U.F.) 521,122 203,194 US Dollar 7,370,388 8,400,473 Total 7,891,640 8,604,920 Interest-bearing loans due in installments to December 31, 2017 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2, Chile. Nominal values Accounting values More than More than More than More than More than More than Up to 90 days one to three to More than Total Up to 90 days one to three to More than Total Creditor 90 to one three five five nominal 90 to one three five five accounting Effective Nominal Tax No. Creditor country Currency days year years years years value days year years years years value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Loans to exporters 97.032.000-8 BBVA Chile ThUS$ 75,000 - - - - 75,000 75,781 - - - - 75,781 At Expiration 2.30 2.30 97.032.000-8 BBVA Chile UF - 55,801 - - - 55,801 - 55,934 - - - 55,934 At Expiration 3.57 2.77 97.036.000-K SANTANDER Chile ThUS$ 30,000 - - - - 30,000 30,129 - - - - 30,129 At Expiration 2.49 2.49 97.030.000-7 ESTADO Chile ThUS$ 40,000 - - - - 40,000 40,071 - - - - 40,071 At Expiration 2.57 2.57 97.003.000-K BANCO DO BRASIL Chile ThUS$ 100,000 - - - - 100,000 100,696 - - - - 100,696 At Expiration 2.40 2.40 97.951.000-4 HSBC Chile ThUS$ 12,000 - - - - 12,000 12,007 - - - - 12,007 At Expiration 2.03 2.03 Bank loans 97.023.000-9 CORPBANCA Chile UF 21,298 21,360 42,006 - - 84,664 21,542 21,360 41,548 - - 84,450 Quarterly 3.68 3.68 0-E BLADEX U.S.A. ThUS$ - 15,000 15,000 - - 30,000 - 15,133 14,750 - - 29,883 Semiannual 5.51 5.51 97.036.000-K SANTANDER Chile ThUS$ - - 202,284 - - 202,284 439 - 202,284 - - 202,723 Quarterly 4.41 4.41 Obligations with the public 0-E BANK OF NEW YORK U.S.A. ThUS$ - - 500,000 - 700,000 1,200,000 - 13,047 492,745 - 697,536 1,203,328 At Expiration 7.44 7.03 97.030.000-7 ESTADO Chile UF - - - 189,637 189,637 379,274 - 1,738 189,500 189,500 380,738 At Expiration 5.50 5.50 Guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ 7,767 23,840 54,074 12,410 - 98,091 8,101 23,840 52,924 12,026 - 96,891 Quarterly 2.66 2.22 0-E BNP PARIBAS U.S.A. ThUS$ 10,929 44,145 114,800 119,948 285,399 575,221 13,328 44,781 111,319 117,987 282,714 570,129 Quarterly 3.41 3.40 0-E WELLS FARGO U.S.A. ThUS$ 27,223 82,402 225,221 233,425 240,716 808,987 30,143 82,402 203,371 224,295 236,179 776,390 Quarterly 2.46 1.75 0-E WILMINGTON TRUST U.S.A. ThUS$ 20,427 61,669 175,334 183,332 594,091 1,034,853 26,614 61,669 169,506 180,520 590,723 1,029,032 Quarterly 4.48 4.48 0-E CITIBANK U.S.A. ThUS$ 11,994 36,501 101,230 104,308 97,184 351,217 13,231 36,501 95,208 101,558 94,807 341,305 Quarterly 3.31 2.47 0-E BTMU U.S.A. ThUS$ 2,856 8,689 24,007 25,278 13,904 74,734 3,082 8,689 22,955 24,941 13,849 73,516 Quarterly 2.87 2.27 0-E APPLE BANK U.S.A. ThUS$ 1,401 4,278 11,828 12,474 7,242 37,223 1,583 4,278 11,303 12,303 7,212 36,679 Quarterly 2.78 2.18 0-E US BANK U.S.A. ThUS$ 15,157 45,992 126,550 132,441 152,693 472,833 17,364 45,992 109,705 125,006 148,318 446,385 Quarterly 4.00 2.82 0-E DEUTSCHE BANK U.S.A. ThUS$ 2,965 9,127 25,826 28,202 30,786 96,906 3,534 9,127 25,130 27,739 30,323 95,853 Quarterly 4.39 4.39 0-E NATIXIS France ThUS$ 14,645 44,627 107,068 91,823 154,848 413,011 15,642 44,627 105,056 90,823 153,124 409,272 Quarterly 3.42 3.40 0-E PK AIRFINANCE U.S.A. ThUS$ 2,163 6,722 19,744 17,871 - 46,500 2,225 6,722 19,744 17,871 - 46,562 Monthly 3.18 3.18 0-E KFW IPEX-BANK Germany ThUS$ 2,397 6,678 16,173 1,640 - 26,888 2,428 6,677 16,174 1,640 - 26,919 Quarterly 3.31 3.31 0-E AIRBUS FINANCIAL U.S.A. ThUS$ 1,855 5,654 15,416 - - 22,925 1,900 5,654 15,416 - - 22,970 Monthly 3.19 3.19 0-E INVESTEC England ThUS$ 1,374 7,990 20,440 22,977 10,597 63,378 1,808 8,181 19,801 22,769 10,565 63,124 Semiannual 6.04 6.04 - SWAP Aviones llegados - ThUS$ 301 749 765 - - 1,815 301 749 765 - - 1,815 Quarterly - Other guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ - - 241,287 - - 241,287 2,170 - 240,007 - - 242,177 At Expiration 3.38 3.38 Financial leases 0-E ING U.S.A. ThUS$ 5,347 10,779 26,831 - - 42,957 5,717 10,779 26,500 - - 42,996 Quarterly 5.67 5.00 0-E CITIBANK U.S.A. ThUS$ 11,206 34,267 86,085 49,853 2,863 184,274 12,013 34,267 84,104 49,516 2,859 182,759 Quarterly 3.78 3.17 0-E PEFCO U.S.A. ThUS$ 12,526 32,850 22,407 - - 67,783 12,956 32,850 22,088 - - 67,894 Quarterly 5.46 4.85 0-E BNP PARIBAS U.S.A. ThUS$ 13,146 33,840 48,823 2,296 - 98,105 13,548 33,840 48,253 2,293 - 97,934 Quarterly 3.66 3.25 0-E WELLS FARGO U.S.A. ThUS$ 10,630 33,866 91,162 64,471 20,984 221,113 11,460 33,866 88,674 63,860 20,903 218,763 Quarterly 3.17 2.67 97.036.000-K SANTANDER Chile ThUS$ 5,459 16,542 45,416 46,472 3,134 117,023 5,813 16,542 44,010 46,153 3,128 115,646 Quarterly 2.51 1.96 0-E RRPF ENGINE England ThUS$ 265 2,430 6,856 7,441 8,991 25,983 265 2,430 6,856 7,441 8,991 25,983 Monthly 4.01 4.01 Other loans 0-E CITIBANK (*) U.S.A. ThUS$ 21,822 67,859 196,210 - - 285,891 22,586 67,859 194,537 - - 284,982 Quarterly 6.00 6.00 Total 482,153 713,657 2,562,843 1,346,299 2,513,069 7,618,021 508,477 729,534 2,484,733 1,318,241 2,490,731 7,531,716 (*) Bonus securitized with the future flows of credit card sales in the United States and Canada. Interest-bearing loans due in installments to December 31, 2017 Debtor: TAM S.A. and Subsidiaries, Tax No. 02.012.862/0001-60, Brazil. Nominal values Accounting values More than More than More than More than More than More than Up to 90 days one to three to More than Total Up to 90 days one to three to More than Total Creditor 90 to one three five five nominal 90 to one three five five accounting Effective Nominal Tax No. Creditor country Currency days year years years years value days year years years years value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Bank loans 0-E NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ Holland ThUS$ 130 401 1,161 690 - 2,382 142 401 1,161 690 - 2,394 Monthly 6.01 6.01 Financial leases 0-E NATIXIS France ThUS$ 2,853 6,099 19,682 70,402 - 99,036 3,592 6,099 19,682 70,402 - 99,775 Quarterly/Semiannual 5.59 5.59 0-E WACAPOU LEASING S.A. Luxemburg ThUS$ 696 2,125 6,020 3,206 - 12,047 732 2,125 6,020 3,207 - 12,084 Quarterly 3.69 3.69 0-E SOCIÉTÉ GÉNÉRALE MILAN BRANCH Italy ThUS$ 8,964 27,525 208,024 - - 244,513 9,992 27,525 208,024 - - 245,541 Quarterly 4.87 4.81 0-E BANCO IBM S.A Brazil BRL 21 - - - - 21 21 - - - - 21 Monthly 6.89 6.89 0-E SOCIETE GENERALE France BRL 101 8 - - - 109 101 8 - - - 109 Monthly 6.89 6.89 Total 12,765 36,158 234,887 74,298 - 358,108 14,580 36,158 234,887 74,299 - 359,924 Total consolidated 494,918 749,815 2,797,730 1,420,597 2,513,069 7,976,129 523,057 765,692 2,719,620 1,392,540 2,490,731 7,891,640 Interest-bearing loans due in installments to December 31, 2016 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2, Chile. Nominal values Accounting values More than More than More than More than More than More than Up to 90 days one to three to More than Total Up to 90 days one to three to More than Total Creditor 90 to one three five five nominal 90 to one three five five accounting Effective Nominal Tax No. Creditor country Currency days year years years years value days year years years years value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Loans to exporters 97.032.000-8 BBVA Chile ThUS$ 75,000 - - - - 75,000 75,234 - - - - 75,234 At Expiration 1.85 1.85 97.032.000-8 BBVA Chile UF - 50,381 - - - 50,381 - 50,324 - - - 50,324 At Expiration 5.23 4.43 97.036.000-K SANTANDER Chile ThUS$ 30,000 - - - - 30,000 30,183 - - - - 30,183 At Expiration 2.39 2.39 97.030.000-7 ESTADO Chile ThUS$ 40,000 - - - - 40,000 40,098 - - - - 40,098 At Expiration 1.91 1.91 97.003.000-K BANCO DO BRASIL Chile ThUS$ 70,000 - - - - 70,000 70,323 - - - - 70,323 At Expiration 3.08 3.08 97.951.000-4 HSBC Chile ThUS$ 12,000 - - - - 12,000 12,002 - - - - 12,002 At Expiration 1.79 1.79 Bank loans 97.023.000-9 CORPBANCA Chile UF 19,229 57,686 60,186 16,254 - 153,355 19,819 57,686 59,176 16,189 - 152,870 Quarterly 4.06 4.06 0-E BLADEX U.S.A. ThUS$ - 12,500 30,000 - - 42,500 - 12,667 29,625 - - 42,292 Semiannual 5.14 5.14 0-E DVB BANK SE U.S.A. ThUS$ - - 28,911 - - 28,911 3 - 28,911 - - 28,914 Quarterly 1.86 1.86 97.036.000-K SANTANDER Chile ThUS$ - - 158,194 - - 158,194 542 - 158,194 - - 158,736 Quarterly 3.55 3.55 Obligations with the public 0-E BANK OF NEW YORK U.S.A. ThUS$ - - - 500,000 - 500,000 2,291 - - 489,885 - 492,176 At Expiration 7.77 7.25 Guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ 11,073 29,252 62,209 32,172 3,711 138,417 11,454 29,252 60,781 31,221 3,631 136,339 Quarterly 2.21 1.81 0-E BNP PARIBAS U.S.A. ThUS$ 10,496 42,401 111,962 118,181 345,078 628,118 12,792 43,023 108,271 116,067 341,481 621,634 Quarterly 2.97 2.96 0-E WELLS FARGO U.S.A. ThUS$ 31,448 95,186 260,112 269,512 400,087 1,056,345 35,211 95,186 233,012 257,387 391,253 1,012,049 Quarterly 2.37 1.68 0-E WILMINGTON TRUST U.S.A. ThUS$ 15,554 49,236 135,254 140,848 626,444 967,336 20,997 49,236 130,792 138,455 622,153 961,633 Quarterly 4.25 4.25 0-E CITIBANK U.S.A. ThUS$ 17,495 53,162 146,932 154,774 175,805 548,168 19,059 53,162 138,257 150,891 172,087 533,456 Quarterly 2.72 1.96 97.036.000-K SANTANDER Chile ThUS$ 5,347 16,204 44,472 46,386 26,165 138,574 5,680 16,204 42,707 45,815 26,063 136,469 Quarterly 1.98 1.44 0-E BTMU U.S.A. ThUS$ 2,787 8,470 23,393 24,635 26,705 85,990 3,001 8,470 22,132 24,149 26,519 84,271 Quarterly 2.31 1.72 0-E APPLE BANK U.S.A. ThUS$ 1,364 4,167 11,516 12,146 13,561 42,754 1,538 4,166 10,889 11,902 13,464 41,959 Quarterly 2.29 1.69 0-E US BANK U.S.A. ThUS$ 14,817 44,958 123,705 129,462 219,666 532,608 17,298 44,958 104,709 120,509 211,895 499,369 Quarterly 3.99 2.81 0-E DEUTSCHE BANK U.S.A. ThUS$ 4,992 15,365 24,725 26,984 45,197 117,263 5,570 15,365 24,023 26,515 44,522 115,995 Quarterly 3.86 3.86 0-E NATIXIS France ThUS$ 12,289 37,388 98,873 82,066 192,235 422,851 13,038 37,388 97,469 81,130 190,048 419,073 Quarterly 2.60 2.57 0-E PK AIRFINANCE U.S.A. ThUS$ 2,018 6,268 18,413 24,944 3,144 54,787 2,071 6,269 18,412 24,944 3,144 54,840 Monthly 2.40 2.40 0-E KFW IPEX-BANK Germany ThUS$ 2,288 7,015 17,869 9,019 - 36,191 2,319 7,015 17,869 9,019 - 36,222 Quarterly 2.55 2.55 0-E AIRBUS FINANCIAL U.S.A. ThUS$ 1,797 5,476 15,262 7,664 - 30,199 1,841 5,477 15,261 7,664 - 30,243 Monthly 2.49 2.49 0-E INVESTEC England ThUS$ 1,298 7,526 19,290 21,667 22,421 72,202 1,771 7,733 18,533 21,368 22,309 71,714 Semiannual 5.67 5.67 - SWAP Aviones llegados - ThUS$ 403 1,067 1,658 158 - 3,286 403 1,067 1,658 158 - 3,286 Quarterly - - Other guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ - - 256,860 - - 256,860 1,908 - 254,512 - - 256,420 Quarterly 2.85 2.85 Financial leases 0-E ING U.S.A. ThUS$ 5,089 15,653 31,151 11,805 - 63,698 5,641 15,652 30,577 11,771 - 63,641 Quarterly 5.62 4.96 0-E CREDIT AGRICOLE France ThUS$ 1,754 5,403 - - - 7,157 1,780 5,403 - - - 7,183 Quarterly 1.85 1.85 0-E CITIBANK U.S.A. ThUS$ 4,956 15,312 44,177 13,804 - 78,249 5,622 15,312 43,413 13,762 - 78,109 Quarterly 6.40 5.67 0-E PEFCO U.S.A. ThUS$ 15,979 47,048 63,957 3,827 - 130,811 16,852 47,048 63,072 3,819 - 130,791 Quarterly 5.39 4.79 0-E BNP PARIBAS U.S.A. ThUS$ 12,520 38,494 75,958 22,147 - 149,119 13,122 38,494 74,776 22,079 - 148,471 Quarterly 3.69 3.26 0-E WELLS FARGO U.S.A. ThUS$ 4,678 14,261 39,862 42,663 1,862 103,326 5,018 14,260 38,834 42,430 1,861 102,403 Quarterly 3.98 3.54 0-E DVB BANK SE U.S.A. ThUS$ 4,680 9,447 - - - 14,127 4,713 9,448 - - - 14,161 Quarterly 2.57 2.57 0-E RRPF ENGINE England ThUS$ - - 6,402 6,955 11,917 25,274 - - 6,402 6,955 11,917 25,274 Monthly 2.35 2.35 Other loans 0-E BOEING U.S.A. ThUS$ - - 26,214 - - 26,214 185 - 26,214 - - 26,399 At Expiration 2.35 2.35 0-E CITIBANK (*) U.S.A. ThUS$ 20,555 63,942 184,866 101,026 - 370,389 21,541 63,942 182,043 100,866 - 368,392 Quarterly 6.00 6.00 Total 451,906 753,268 2,122,383 1,819,099 2,113,998 7,260,654 480,920 754,207 2,040,524 1,774,950 2,082,347 7,132,948 (*) Securitized bond with the future flows from the sales with credit card in United States and Canada. Interest-bearing loans due in installments to December 31, 2016 Debtor: TAM S.A. and Subsidiaries, Tax No. 02.012.862/0001-60, Brazil. Nominal values Accounting values More than More than More than More than More than More than Up to 90 days one to three to More than Total Up to 90 days one to three to More than Total Creditor 90 to one three five five nominal 90 to one three five five accounting Effective Nominal Tax No. Creditor country Currency days year years years years value days year years years years value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Bank loans 0-E NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ Holland ThUS$ 122 378 1,094 1,234 54 2,882 137 378 1,094 1,233 55 2,897 Monthly 6.01 6.01 0-E CITIBANK U.S.A ThUS$ - 200,000 - - - 200,000 (151 ) 199,729 - - - 199,578 At Expiration 3.39 3.14 Obligation with the public 0-E THE BANK OF NEW YORK U.S.A ThUS$ - 300,000 - 500,000 - 800,000 8,173 301,579 4,119 503,298 - 817,169 At Expiration 8.17 8.00 Financial leases 0-E AFS INVESTMENT IX LLC U.S.A ThUS$ 2,086 6,437 18,556 8,369 - 35,448 2,253 6,437 18,556 8,369 - 35,615 Monthly 1.25 1.25 0-E DVB BANK SE U.S.A ThUS$ 118 164 - - - 282 119 164 - - - 283 Monthly 2.50 2.50 0-E GENERAL ELECTRIC CAPITAL CORPORATION U.S.A ThUS$ 3,771 5,075 - - - 8,846 3,794 5,075 - - - 8,869 Monthly 2.30 2.30 0-E KFW IPEX-BANK Germany ThUS$ 579 1,544 - - - 2,123 583 1,544 - - - 2,127 Monthly/Quarterly 2.80 2.80 0-E NATIXIS France ThUS$ 2,675 5,732 18,485 38,820 41,731 107,443 3,533 5,732 18,485 38,820 41,731 108,301 Quarterly/Semiannual 4.90 4.90 0-E WACAPOU LEASING S.A. Luxemburg ThUS$ 668 2,038 5,768 6,280 - 14,754 709 2,038 5,768 6,280 - 14,795 Quarterly 3.00 3.00 0-E SOCIÉTÉ GÉNÉRALE MILAN BRANCH Italy ThUS$ 8,547 26,275 74,783 169,730 - 279,335 9,779 26,275 74,783 169,730 - 280,567 Quarterly 4.18 4.11 0-E BANCO IBM S.A Brazil BRL 260 749 22 - - 1,031 260 749 21 - - 1,030 Monthly 13.63 13.63 0-E HP FINANCIAL SERVICE Brazil BRL 222 - - - - 222 222 - - - - 222 Monthly 10.02 10.02 0-E SOCIETE GENERALE France BRL 102 307 110 - - 519 102 307 110 - - 519 Monthly 13.63 13.63 Total 19,150 548,699 118,818 724,433 41,785 1,452,885 29,513 550,007 122,936 727,730 41,786 1,471,972 Total consolidated 471,056 1,301,967 2,241,201 2,543,532 2,155,783 8,713,539 510,433 1,304,214 2,163,460 2,502,680 2,124,133 8,604,920 (b) Hedge derivatives Total hedge Current liabilities Non-current liabilities derivatives As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Accrued interest from the last date of interest rate swap 1,189 2,148 - - 1,189 2,148 Fair value of interest rate derivatives 8,919 9,578 2,617 6,679 11,536 16,257 Fair value of foreign currency derivatives 2,092 13,155 - - 2,092 13,155 Total hedge derivatives 12,200 24,881 2,617 6,679 14,817 31,560 The foreign currency derivatives correspond to options, forwards and swaps. Hedging operation The fair values of net assets/ (liabilities), by type of derivative, of the contracts held as hedging instruments are presented below: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Cross currency swaps (CCS) (1) 38,875 (12,286 ) Interest rate swaps (2) (6,542 ) (16,926 ) Fuel options (3) 10,711 10,088 Currency forward - options US$/GBP$ (4) - 618 Currency forward - options US$/EUR$ (4) - 109 Currency options R$/US$ (4) 4,370 (1,752 ) Currency options CLP/US$ (4) 636 - (1) Covers the significant variations in cash flows associated with market risk implicit in the changes in the 3-month LIBOR interest rate and the exchange rate US$/UF of bank loans. These contracts are recorded as cash flow hedges and fair value. (2) Covers the significant variations in cash flows associated with market risk implicit in the increases in the 3 months LIBOR interest rates for long-term loans incurred in the acquisition of aircraft and bank loans. These contracts are recorded as cash flow hedges. (3) Covers significant variations in cash flows associated with market risk implicit in the changes in the price of future fuel purchases. These contracts are recorded as cash flow hedges. (4) Covers the foreign exchange risk exposure of operating cash flows caused mainly by fluctuations in the exchange rate R$/US$, US$/EUR and US$/GBP. These contracts are recorded as cash flow hedges. During the periods presented, the Company only has cash flow and fair value hedges (in the case of CCS). In the case of fuel hedges, the cash flows subject to such hedges will occur and will impact results in the next 3 months from the date of the consolidated statement of financial position, while in the case of hedges of interest rates, these they will occur and will impact results throughout the life of the associated loans, up to their maturity. In the case of currency hedges through a CCS, there is a group of hedging relationships, in which two types of hedge accounting are generated, one of cash flow for the US $ / UF component; and another of fair value, for the floating rate component US $. The other group of hedging relationships only generates cash flow hedge accounting for the US $ / UF component. During the periods presented, no hedging operations of future highly probable transaction that have not been realized have occurred. Since none of the coverage resulted in the recognition of a non-financial asset, no portion of the result of the derivatives recognized in equity was transferred to the initial value of such assets. The amounts recognized in comprehensive income during the period and transferred from net equity to income are as follows: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Debit (credit) recognized in comprehensive income during the period 18,344 127,390 80,387 Debit (credit) transferred from net equity to income during the period (15,000 ) (113,403 ) (151,244 ) |
TRADE AND OTHER ACCOUNTS PAYABL
TRADE AND OTHER ACCOUNTS PAYABLES | 12 Months Ended |
Dec. 31, 2017 | |
Trade And Other Accounts Payables | |
TRADE AND OTHER ACCOUNTS PAYABLES | NOTE 20 - TRADE AND OTHER ACCOUNTS PAYABLES The composition of Trade and other accounts payables is as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Current (a) Trade and other accounts payables 1,349,201 1,117,926 (b) Accrued liabilities at the reporting date 346,001 475,142 Total trade and other accounts payables 1,695,202 1,593,068 (a) Trade and other accounts payable: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Trade creditors 1,096,540 876,163 Leasing obligation 4,448 10,446 Other accounts payable 248,213 231,317 Total 1,349,201 1,117,926 The details of Trade and other accounts payables are as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Boarding Fee 249,898 170,053 Aircraft Fuel 219,601 188,276 Suppliers technical purchases 114,690 40,305 Airport charges and overflight 106,534 77,484 Handling and ground handling 103,784 87,406 Other personnel expenses 89,621 81,632 Professional services and advisory 81,679 79,270 Marketing 75,220 61,053 Leases, maintenance and IT services 69,873 44,287 Services on board 68,605 44,589 Air companies 31,381 21,197 Land services 31,151 74,260 Maintenance 26,244 25,962 Crew 24,163 29,074 Achievement of goals 5,732 17,801 Communications 5,273 7,500 Aviation insurance 5,108 7,694 Aircraft and engines leasing 4,285 10,446 SEC agreement (*) - 4,719 Others 36,359 44,918 Total trade and other accounts payables 1,349,201 1,117,926 (*) Provision made for payments of fines, on July 25, 2016 LATAM reached agreements with the U.S. Department of Justice ("DOJ") U.S. and the Securities and Exchange Commission ("SEC") both authorities of the United States of America, in force as of this date, regarding the investigation on payments by LAN Airlines S.A. made in 2006-2007 to a consultant who advised on the resolution of labor matters in Argentina. The amount to the SEC agreement is ThUS$ 6,744 plus interests of ThUS$ 2,694. As of December 31, 2017, the debt was paid in full. (b) Liabilities accrued: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Accrued personnel expenses 125,246 113,785 Aircraft and engine maintenance 92,711 244,949 Accounts payable to personnel (*) 99,862 89,523 Others accrued liabilities 28,182 26,885 Total accrued liabilities 346,001 475,142 (*) Profits and bonds participation (Note 23 letter b) |
OTHER PROVISIONS
OTHER PROVISIONS | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of other provisions [abstract] | |
OTHER PROVISIONS | NOTE 21 - OTHER PROVISIONS Other provisions: Current liabilities Non-current liabilities Total Liabilities As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Provision for contingencies (1) Tax contingencies 1,913 1,425 258,305 313,064 260,218 314,489 Civil contingencies 497 993 62,858 56,413 63,355 57,406 Labor contingencies 373 225 28,360 29,307 28,733 29,532 Other - - 15,187 15,046 15,187 15,046 Provision for European Commision investigation (2) - - 9,883 8,664 9,883 8,664 Total other provisions (3) 2,783 2,643 374,593 422,494 377,376 425,137 (1) Provisions for contingencies: The tax contingencies correspond to litigation and tax criteria related to the tax treatment applicable to direct and indirect taxes, which are found in both administrative and judicial stage. The civil contingencies correspond to different demands of civil order filed against the Company. The labor contingencies correspond to different demands of labor order filed against the Company. The Provisions are recognized in the consolidated income statement in administrative expenses or tax expenses, as appropriate. (2) Provision made for proceedings brought by the European Commission for possible breaches of free competition in the freight market. (3) Total other provision at December 31, 2017, and 2016, include the fair value correspond to those contingencies from the business combination with TAM S.A and subsidiaries, with a probability of loss under 50%, which are not provided for the normal application of IFRS enforcement and that only must be recognized in the context of a business combination in accordance with IFRS 3. Movement of provisions: European Legal Commission claims (1) Investigation (2) Total ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 705,552 9,999 715,551 Increase in provisions 54,675 - 54,675 Provision used (19,522 ) - (19,522 ) Difference by subsidiaries conversion (220,266 ) - (220,266 ) Reversal of provision (100,740 ) - (100,740 ) Exchange difference (1,246 ) (1,033 ) (2,279 ) Closing balance as of December 31, 2015 418,453 8,966 427,419 Opening balance as of January 1, 2016 418,453 8,966 427,419 Increase in provisions 141,797 - 141,797 Provision used (21,997 ) - (21,997 ) Difference by subsidiaries conversion 79,396 - 79,396 Reversal of provision (201,425 ) - (201,425 ) Exchange difference 249 (302 ) (53 ) Closing balance as of December 31, 2016 416,473 8,664 425,137 Opening balance as of January 1, 2017 416,473 8,664 425,137 Increase in provisions 106,943 - 106,943 Provision used (14,860 ) - (14,860 ) Difference by subsidiaries conversion (5,830 ) - (5,830 ) Reversal of provision (135,109 ) - (135,109 ) Exchange difference (124 ) 1,219 1,095 Closing balance as of December 31, 2017 367,493 9,883 377,376 (1) Cumulative balances include judicial deposit delivered as security, with respect to the "Aerovía Fundo" (FA), for US $ 100 million, made in order to suspend the application of the tax credit. The Company is discussing in the Court the constitutionality of the requirement made by FA in a lawsuit. Initially it was covered by the effects of a precautionary measure, this means that the Company would not be obliged to collect the tax, as long as there is no judicial decision in this regard. However, the decision taken by the judge in the first instance was published unfavorably, revoking the injunction. As the lawsuit is still underway (TAM appealed this first decision), the Company needed to make the judicial deposit, for the suspension of the enforceability of the tax credit; deposit that was classified in this item, discounting the existing provision for this purpose. Finally, if the final decision is favorable to the Company, the deposit made will return to TAM. On the other hand, if the court confirms the first decision, said deposit will become a final payment in favor of the Government of Brazil. The procedural stage as of December 31, 2017 is described in Note 31 in the Role of the case 2001.51.01.012530-0. (2) European Commission Provision: Provision constituted on the occasion of the process initiated in December 2007 by the General Competition Directorate of the European Commission against more than 25 cargo airlines, among which is Lan Cargo SA, which forms part of the global investigation initiated in 2006 for possible infractions of free competition in the air cargo market, which was carried out jointly by the European and United States authorities. With respect to Europe, the General Directorate of Competition imposed fines totaling € 799,445,000 (seven hundred and ninety-nine million four hundred and forty-five thousand Euros) for infractions of European Union regulations on free competition against eleven (11) airlines, among which are LATAM Airlines Group SA and its subsidiary Lan Cargo S.A. For its part, LATAM Airlines Group S.A. and Lan Cargo S.A., jointly and severally, have been fined for the amount of € 8,220,000 (eight million two hundred and twenty thousand Euros), for these infractions, an amount that was provisioned in the financial statements of LATAM. On January 24, 2011, LATAM Airlines Group S.A. and Lan Cargo S.A. They appealed the decision before the Court of Justice of the European Union. On December 16, 2015, the European Court resolved the appeal and annulled the Commission's Decision. The European Commission did not appeal the judgment, but on March 17, 2017, the European Commission again adopted its original decision to impose on the eleven lines original areas, the same fine previously imposed, amounting to a total of 776,465,000 Euros In the case of LAN Cargo and its parent, LATAM Airlines Group S.A. imposed the same fine of 8.2 million Euros. The procedural stage as of December 31, 2017 is described in Note 31 in section (ii) judgments received by LATAM Airlines Group S.A. and Subsidiaries. |
OTHER NON-FINANCIAL LIABILITIES
OTHER NON-FINANCIAL LIABILITIES | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous liabilities [abstract] | |
OTHER NON-FINANCIAL LIABILITIES | NOTE 22 - OTHER NON-FINANCIAL LIABILITIES Current liabilities Non-current liabilities Total Liabilities As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Deferred revenues (*) 2,690,961 2,655,086 158,305 213,781 2,849,266 2,868,867 Sales tax 22,902 19,402 - - 22,902 19,402 Retentions 38,197 45,542 - - 38,197 45,542 Others taxes 8,695 7,465 - - 8,695 7,465 Dividends payable 46,590 20,766 - - 46,590 20,766 Other sundry liabilities 16,618 13,984 - - 16,618 13,984 Total other non-financial liabilities 2,823,963 2,762,245 158,305 213,781 2,982,268 2,976,026 (*) Note 2.20. The balance comprises, mainly, deferred income by services not yet rendered at December 31, 2017 and 2016; and programs such as: LATAM Pass, LATAM Fidelidade y Multiplus: LATAM Pass is the frequent passenger program created by LAN to reward the preference and loyalty of its customers with multiple benefits and privileges, through the accumulation of kilometers that can be exchanged for free flight tickets or for a varied range of products and services. Customers accumulate LATAM Pass kilometers every time they fly on LAN, TAM, oneworld® member companies and other airlines associated with the program, as well as buying at stores or using the services of a vast network of companies that have an agreement with the program around the world. For its part, TAM, thinking of people who travel constantly, created the LATAM Fidelidade program, in order to improve the service and give recognition to those who choose the company. Through the program, customers accumulate points in a wide variety of loyalty programs in a single account and can redeem them in all TAM destinations and associated airline companies, and even more, participate in the Multiplus Fidelidade Network. Multiplus is a coalition of loyalty programs, with the objective of operating accumulation and exchange of points. This program has a network integrated by associated companies, including hotels, financial institutions, retail companies, supermarkets, vehicle leases and magazines, among many other partners from different segments. |
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of defined benefit plans [abstract] | |
EMPLOYEE BENEFITS | NOTE 23 - EMPLOYEE BENEFITS As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Retirements payments 55,119 49,680 Resignation payments 10,124 10,097 Other obligations 35,844 22,545 Total liability for employee benefits 101,087 82,322 (a) The movement in retirements and resignation payments and other obligations: Increase (decrease) Actuarial Opening current service Benefits (gains) Currency Closing balance provision paid losses translation balance ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 74,102 (13,609 ) (3,824 ) 14,631 (6,029 ) 65,271 From January 1 to December 31, 2016 65,271 17,487 (4,536 ) 3,105 995 82,322 From January 1 to December 31, 2017 82,322 21,635 (5,399 ) (2,763 ) 5,292 101,087 The principal assumptions used in the calculation to the provision in Chile are presented below: As of December 31, Assumptions 2017 2016 Discount rate 4.55 % 4.54 % Expected rate of salary increase 4.50 % 4.50 % Rate of turnover 6.98 % 6.16 % Mortality rate RV-2014 RV-2009 Inflation rate 2.72 % 2.86 % Retirement age of women 60 60 Retirement age of men 65 65 The discount rate corresponds to the 20-year term rate of the BCP Central Bank of Chile Bonds. The RV-2014 mortality tables correspond to those established by the Commission for the Financial Market of Chile and for the determination of the inflation rates; the market performance curves of Central Bank of Chile papers of the BCUs have been used. BCP long term at the date of scope. The calculation of the present value of the defined benefit obligation is sensitive to the variation of some actuarial assumptions such as discount rate, salary increase, rotation and inflation. The sensitivity analysis for these variables is presented below: Effect on the liability As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Discount rate Change in the accrued liability an closing for increase in 100 p.b. (5,795 ) (5,665 ) Change in the accrued liability an closing for decrease of 100 p.b. 6,617 5,952 Rate of wage growth Change in the accrued liability an closing for increase in 100 p.b. 6,412 6,334 Change in the accrued liability an closing for decrease of 100 p.b. (5,750 ) (5,644 ) (b) The liability for short-term: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Profit-sharing and bonuses (*) 99,862 89,523 (*) Accounts payables to employees (Note 20 letter b) The participation in profits and bonuses correspond to an annual incentives plan for achievement of objectives. (c) Employment expenses are detailed below: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Salaries and wages 1,604,552 1,549,402 1,631,320 Short-term employee benefits 145,245 132,436 171,366 Termination benefits 85,070 79,062 51,684 Other personnel expenses 188,767 190,233 218,435 Total 2,023,634 1,951,133 2,072,805 |
ACCOUNTS PAYABLE, NON-CURRENT
ACCOUNTS PAYABLE, NON-CURRENT | 12 Months Ended |
Dec. 31, 2017 | |
Trade and other payables [abstract] | |
ACCOUNTS PAYABLE, NON-CURRENT | NOTE 24 - ACCOUNTS PAYABLE, NON-CURRENT As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Aircraft and engine maintenance 483,795 347,085 Provision for vacations and bonuses 14,725 12,080 Other sundry liabilities 312 226 Total accounts payable, non-current 498,832 359,391 |
EQUITY
EQUITY | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of classes of share capital [abstract] | |
EQUITY | NOTE 25 - EQUITY (a) Capital The Company’s objective is to maintain an appropriate level of capitalization that enables it to ensure access to the financial markets for carrying out its medium and long-term objectives, optimizing the return for its shareholders and maintaining a solid financial position. The paid capital of the Company at December 31, 2017 amounts to ThUS$ 3,146,265 (*) divided into 606,407,693 common stock of a same series (ThUS$ 3,149,564 (**) divided into 606,407,693 shares as of December 31, 2016), a single series nominative, ordinary character with no par value. There are no special series of shares and no privileges. The form of its stock certificates and their issuance, exchange, disablement, loss, replacement and other similar circumstances, as well as the transfer of the shares, is governed by the provisions of Corporations Law and its regulations. (*) Includes deduction of issuance costs for ThUS $ 3,299 and adjustment for placement of 10,282 shares for ThUS $ 156, approved at the Extraordinary Shareholders Meeting of the Company on April 27, 2017. (**) Includes adjustment for placement of the aforementioned 10,282 shares for ThUS $ 156. (b) Subscribed and paid shares On August 18, 2016, the Company held an extraordinary meeting of shareholders in which it was approved to increase the capital by issuing 61,316,424 shares of payment, all ordinary shares, without par value. As of December 31, 2017, 60,849,592 shares had been placed against this increase, according to the following breakdown: (a) 30,499,685 shares subscribed and paid at the end of the preferred subscription period, which expired on, December 2016, raising the equivalent of US$ 304,996,850; and (b) 30,349,907 additional shares subscribed on December 28, 2016, earning the equivalent of US$ 303,499,070. As a result of the last placement, as of December 31, 2017, the number Company shares subscribed and paid amounts to 606,407,693. At December 31, 2017, the Company's capital stock is represented by 608,374,525 shares, all of the same and unique series, nominative, ordinary, with no par value, which is divided into: (a) the 606,407,693 subscribed and paid shares mentioned above; and (b) 1,966,832 shares pending subscription and payment, of which: (i) 1,500,000 shares are allocated to compensation stock option plans; and (ii) 466,832 correspond to the balance of shares pending placement of the last capital increase. During 2016, the Company's capital stock was expressed in 613,164,243 shares, all of the same and unique series, nominative, ordinary, with no par value, that is, 551,847,819 shares already authorized at the beginning of the year and 61,316,424 shares authorized in the last Capital increase dated August 18, 2016. However, on December 21, 2016, the deadline for the subscription and payment of 4,789,718 shares that were destined to compensation plans for workers expired, so that the Company's capital stock was reduced to 608,374,525 shares. The following table shows the movement of the authorized and fully paid shares described above: Movement of authorized shares Nro. Of shares Autorized shares as of January 1, 2016 551,847,819 Increase capital approved at Extraordinary Shareholders meeting dated August 18, 2016 61,316,424 Full capital decrease due to maturity of the subscription and payment period of the compensation plan 2011, December 21, 2016 (*) (4,789,718 ) Authorized shares as of December 31, 2016 608,374,525 Autorized shares as of January 1, 2017 608,374,525 There is no movement of authorized shares during the period 2017 - Authorized shares as of December 31, 2017 608,374,525 (*) See Note 34 (a.1) Movement fully paid shares Movement value Cost of issuance of shares and placement Paid- in N° of (1) of shares (2) Capital shares ThUS$ ThUS$ ThUS$ Paid shares as of January 1, 2016 545,547,819 2,552,066 (6,361 ) 2,545,705 Approved at Extraordinary Shereholders meeting dated August 18, 2016 60,849,592 608,496 - 608,496 Capital reserve - - (4,793 ) (4,793 ) Increase (decrease) by transfers and other changes (4) 10,282 156 - 156 Paid shares as of December 31, 2016 606,407,693 3,160,718 (11,154 ) 3,149,564 Paid shares as of January 1, 2017 606,407,693 3,160,718 (11,154 ) 3,149,564 Capital reserve - - (3,299 ) (3,299 ) Paid shares as of December 31, 2017 606,407,693 (3) 3,160,718 (14,453 ) 3,146,265 (1) Amounts reported represent only those arising from the payment of the shares subscribed. (2) Decrease of capital by capitalization of reserves for cost of issuance and placement of shares established according to Extraordinary Shareholder´s Meetings, where such decreases were authorized. (3) At December 31, 2017, the difference between authorized shares and fully paid shares are 1,966,832 shares, of which 1,500,000 correspond to compensation plans for executives of LATAM Airlines Group S.A. and subsidiaries (see Note 34(a.2)) and 466,832 correspond to the shares issued and unsubscribed from the capital increase approved at the Extraordinary Shareholders Meeting held on August 18, 2016. (4) These 10,282 shares were placed in January 2014 and charged to the Compensation plan 2011 (See Note 34 (a.1)) (c) Treasury stock At December 31, 2017, the Company held no treasury stock, the remaining of ThUS$ (178) corresponds to the difference between the amount paid for the shares and their book value, at the time of the full right decrease of the shares which held in its portfolio. (d) Reserve of share- based payments Movement of Reserves of share- based payments: Stock Opening option Deferred Net movement Closing Periods balance plan tax of the period balance ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 29,642 8,924 (2,919 ) 6,005 35,647 From January 1 to December 31, 2016 35,647 3,698 (807 ) 2,891 38,538 From January 1 to December 31, 2017 38,538 943 - 943 39,481 These reserves are related to the “Share-based payments” explained in Note 34. (e) Other sundry reserves Movement of Other sundry reserves: Opening Legal Closing Periods balance reserves balance ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 2,635,748 (1,069 ) 2,634,679 From January 1 to December 31, 2016 2,634,679 5,602 2,640,281 From January 1 to December 31, 2017 2,640,281 (501 ) 2,639,780 Balance of Other sundry reserves comprises the following: As of As of As of December 31, December 31, December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Higher value for TAM S.A. share exchange (1) 2,665,692 2,665,692 2,665,692 Reserve for the adjustment to the value of fixed assets (2) 2,620 2,620 2,620 Transactions with non-controlling interest (3) (25,911 ) (25,911 ) (25,891 ) Cost of issuance and placement of shares 0 (9 ) (4,793 ) Others (2,621 ) (2,111 ) (2,949 ) Total 2,639,780 2,640,281 2,634,679 (1) Corresponds to the difference in the shares value of TAM S.A. acquired (under subscriptions) by Sister Holdco S.A. and Holdco II S.A. (under the Exchange Offer), as stipulated in the Declaration of Posting of Merger by Absorption and the fair value of these exchange shares of LATAM Airlines Group S.A. at June 22, 2012. (2) Corresponds to the technical revaluation of fixed assets authorized by the Commission for the Financial Market in 1979, in Circular N° 1529. The revaluation was optional and could be taken only once, the reserve is not distributable and can only be capitalized. (3) The balance at December 31, 2017, correspond to the loss generated by the participation of Lan Pax Group S.A. and Inversiones Lan S.A. in the acquisition of shares of Aerovías de Integración Regional Aires of ThUS$ (3,480) and ThUS$ (20), respectively; the acquisition of TAM S.A. of the minority holding of Aerolinhas Brasileiras S.A. of ThUS$ (885) and the acquisition of minority interest of Aerolane S.A. by Lan Pax group S.A. through Holdco Ecuador S.A. for US$ (21,526). (f) Reserves with effect in other comprehensive income. Movement of Reserves with effect in other comprehensive income: Actuarial gain Currency Cash flow or loss on defined translation hedging benefit plans reserve reserve reserve Total ThUS$ ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 (1,193,871 ) (151,340 ) - (1,345,211 ) Derivatives valuation gains (losses) - 82,730 - 82,730 Deferred tax - (21,900 ) - (21,900 ) Actuarial reserves by employee benefit plans - - (14,627 ) (14,627 ) Deferred tax actuarial IAS by employee benefit plans - - 3,910 3,910 Difference by subsidiaries conversion (1,382,170 ) - - (1,382,170 ) Closing balance as of December 31, 2015 (2,576,041 ) (90,510 ) (10,717 ) (2,677,268 ) Opening balance as of January 1, 2016 (2,576,041 ) (90,510 ) (10,717 ) (2,677,268 ) Derivatives valuation gains (losses) - 126,360 - 126,360 Deferred tax - (34,344 ) - (34,344 ) Actuarial reserves by employee benefit plans - - (3,104 ) (3,104 ) Deferred tax actuarial IAS by employee benefit plans - - 921 921 Difference by subsidiaries conversion 489,486 - - 489,486 Closing balance as of December 31, 2016 (2,086,555 ) 1,506 (12,900 ) (2,097,949 ) Opening balance as of January 1, 2017 (2,086,555 ) 1,506 (12,900 ) (2,097,949 ) Derivatives valuation gains (losses) - 18,436 - 18,436 Deferred tax - (1,802 ) - (1,802 ) Actuarial reserves by employee benefit plans - - 2,758 2,758 Deferred tax actuarial IAS by employee benefit plans - - (784 ) (784 ) Difference by subsidiaries conversion (45,036 ) - - (45,036 ) Closing balance as of December 31, 2017 (2,131,591 ) 18,140 (10,926 ) (2,124,377 ) (f.1) Currency translation reserve These originate from exchange differences arising from the translation of any investment in foreign entities (or Chilean investment with a functional currency different to that of the parent), and from loans and other instruments in foreign currency designated as hedges for such investments. When the investment (all or part) is sold or disposed and loss of control occurs, these reserves are shown in the consolidated statement of income as part of the loss or gain on the sale or disposal. If the sale does not involve loss of control, these reserves are transferred to non-controlling interests. (f.2) Cash flow hedging reserve These originate from the fair value valuation at the end of each period of the outstanding derivative contracts that have been defined as cash flow hedges. When these contracts expire, these reserves should be adjusted and the corresponding results recognized. (f.3) Reserves of actuarial gains or losses on defined benefit plans Correspond to the increase or decrease in the obligation present value for defined benefit plan due to changes in actuarial assumptions, and experience adjustments, which is the effects of differences between the previous actuarial assumptions and what has actually occurred. (g) Retained earnings Movement of Retained earnings: Result Other Opening for the increase Closing Periods balance period Dividends (decreases) balance ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 536,190 (219,274 ) - 1,034 317,950 From January 1 to December 31, 2016 317,950 69,220 (20,766 ) - 366,404 From January 1 to December 31, 2017 366,404 155,304 (46,590 ) - 475,118 (h) Dividends per share Minimum mandatory Final dividend dividend dividend Description of dividend 2017 2016 Date of dividend 12/31/2017 12-31-2016 Amount of the dividend (ThUS$) 46,590 20,766 (*) Number of shares among which the dividend is distributed 606,407,693 606,407,693 Dividend per share (US$) 0.0768 0.0342 (*) In accordance with the Material Fact issued on April 27, 2017, LATAM Airlines Group S.A. shareholders approved the distribution of the final dividend proposed by the board of directors in the Ordinary Session of April 4, 2017, amounting to ThUS $ 20,766, which corresponds to 30% of the profits for the year corresponding to the year 2016. The payment was made on May 18, 2017. |
REVENUE
REVENUE | 12 Months Ended |
Dec. 31, 2017 | |
Revenue [abstract] | |
REVENUE | NOTE 26 - REVENUE The detail of revenues is as follows: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Passengers LAN 4,313,287 4,104,348 4,241,918 Passengers TAM 4,181,190 3,773,367 4,168,696 Cargo 1,119,430 1,110,625 1,329,431 Total 9,613,907 8,988,340 9,740,045 |
COSTS AND EXPENSES BY NATURE
COSTS AND EXPENSES BY NATURE | 12 Months Ended |
Dec. 31, 2017 | |
Material income and expense [abstract] | |
COSTS AND EXPENSES BY NATURE | NOTE 27 - COSTS AND EXPENSES BY NATURE (a) Costs and operating expenses The main operating costs and administrative expenses are detailed below: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Aircraft fuel 2,318,816 2,056,643 2,651,067 Other rentals and landing fees 1,172,129 1,077,407 1,109,826 Aircraft rentals 579,551 568,979 525,134 Aircraft maintenance 430,825 366,153 437,235 Comissions 252,474 269,296 302,774 Passenger services 288,662 286,621 295,439 Other operating expenses 1,381,546 1,424,595 1,293,320 Total 6,424,003 6,049,694 6,614,795 (b) Depreciation and amortization Depreciation and amortization are detailed below: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Depreciation (*) 943,215 910,071 897,670 Amortization 58,410 50,257 36,736 Total 1,001,625 960,328 934,406 (*) Include the depreciation of Property, plant and equipment and the maintenance cost of aircraft held under operating leases. The amount of maintenance cost included within the depreciation line item at December 31, 2017 is ThUS$ 359,940 and ThUS$ 345,651 for the same period of 2016. (c) Personnel expenses The costs for personnel expenses are disclosed in Note 23 liability for employee benefits. (d) Financial costs The detail of financial costs is as follows: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Bank loan interest 347,551 352,405 331,511 Financial leases 37,522 32,573 42,855 Other financial instruments 8,213 31,358 38,991 Total 393,286 416,336 413,357 Costs and expenses by nature presented in this note plus the Employee expenses disclosed in Note 23, are equivalent to the sum of cost of sales, distribution costs, administrative expenses, other expenses and financing costs presented in the consolidated statement of income by function. |
OTHER INCOME, BY FUNCTION
OTHER INCOME, BY FUNCTION | 12 Months Ended |
Dec. 31, 2017 | |
Material income and expense [abstract] | |
OTHER INCOME, BY FUNCTION | NOTE 28 - OTHER INCOME, BY FUNCTION Other income by function is as follows: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Coalition and loyalty program Multiplus 240,952 174,197 154,958 Tours 109,463 133,575 113,225 Aircraft leasing 103,741 65,011 46,547 Customs and warehousing 26,793 24,548 25,457 Maintenance 6,585 17,090 11,669 Duty free 8,038 11,141 16,408 Other miscellaneous income 54,317 113,186 17,517 Total 549,889 538,748 385,781 |
FOREIGN CURRENCY AND EXCHANGE R
FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES | 12 Months Ended |
Dec. 31, 2017 | |
Foreign Currency And Exchange Rate Differences | |
FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES | NOTE 29 - FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES The functional currency of LATAM Airlines Group S.A. is the US dollar, also it has subsidiaries whose functional currency is different to the US dollar, such as the chilean peso, argentine peso, colombian peso, brazilian real and guaraní. The functional currency is defined as the currency of the primary economic environment in which an entity operates and in each entity and all other currencies are defined as foreign currency. Considering the above, the balances by currency mentioned in this note correspond to the sum of foreign currency of each of the entities that make LATAM Airlines Group S.A. and Subsidiaries. (a) Foreign currency The foreign currency detail of balances of monetary items in current and non-current assets is as follows: As of As of December 31, December 31, Current assets 2017 2016 ThUS$ ThUS$ Cash and cash equivalents 260,092 201,416 Argentine peso 7,309 4,438 Brazilian real 14,242 9,705 Chilean peso 81,693 30,221 Colombian peso 1,105 1,137 Euro 11,746 1,695 U.S. dollar 108,327 128,694 Other currency 35,670 25,526 Other financial assets, current 36,484 14,573 Argentine peso 21 12 Brazilian real 17 734 Chilean peso 26,605 585 Colombian peso 150 - U.S. dollar 9,343 12,879 Other currency 348 363 As of As of December 31, December 31, Current assets 2017 2016 ThUS$ ThUS$ Other non - financial assets, current 107,170 107,789 Argentine peso 16,507 16,086 Brazilian real 19,686 20,158 Chilean peso 34,258 1,619 Colombian peso 340 713 Euro 2,722 1,563 U.S. dollar 21,907 50,157 Other currency 11,750 17,493 Trade and other accounts receivable, current 373,447 251,204 Argentine peso 49,680 54,356 Brazilian real 22,006 30,675 Chilean peso 82,369 90,482 Colombian peso 1,169 9,720 Euro 48,286 21,923 U.S. dollar 34,268 14,086 Other currency 135,669 29,962 Accounts receivable from related entities, current 958 554 Chilean peso 735 554 U.S. dollar 223 - Tax current assets 33,575 28,198 Argentine peso 1,679 1,798 Brazilian real 3,934 2,462 Chilean peso 3,317 6,333 Colombian peso 660 1,418 Euro 179 273 U.S. dollar 327 177 Peruvian sol 21,948 14,387 Other currency 1,531 1,350 Total current assets 811,726 603,734 Argentine peso 75,196 76,690 Brazilian real 59,885 63,734 Chilean peso 228,977 129,794 Colombian peso 3,424 12,988 Euro 62,933 25,454 U.S. Dollar 174,395 205,993 Other currency 206,916 89,081 As of As of December 31, December 31, Non-current assets 2017 2016 ThUS$ ThUS$ Other financial assets, non-current 20,975 26,772 Brazilian real 3,831 2,769 Chilean peso 74 83 Colombian peso 281 285 Euro 7,853 6,966 U.S. dollar 7,273 14,920 Other currency 1,663 1,749 Other non - financial assets, non-current 9,108 19,069 Argentine peso 172 142 Brazilian real 6,368 6,029 U.S. dollar 38 8,309 Other currency 2,530 4,589 Accounts receivable, non-current 6,887 7,356 Chilean peso 6,887 7,356 Deferred tax assets 2,081 2,110 Colombian peso 86 117 Other currency 1,995 1,993 Total non-current assets 39,051 55,307 Argentine peso 172 142 Brazilian real 10,199 8,798 Chilean peso 6,961 7,439 Colombian peso 367 402 Euro 7,853 6,966 U.S. dollar 7,311 23,229 Other currency 6,188 8,331 The foreign currency detail of balances of monetary items in current liabilities and non-current is as follows: Up to 90 days 91 days to 1 year As of As of As of As of December 31, December 31, December 31, December 31, Current liabilities 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Other financial liabilities, current 36,000 287,175 115,182 455,086 Chilean peso 21,542 55,962 79,032 108,010 U.S. dollar 14,458 231,213 36,150 347,076 Trade and other accounts payables, current 919,373 585,149 33,707 16,097 Argentine peso 122,452 20,838 8,636 907 Brazilian real 28,810 40,740 669 27 Chilean peso 233,202 60,701 11,311 12,255 Colombian peso 2,964 9,049 855 578 Euro 58,081 23,445 9,165 5 U.S. dollar 409,380 374,431 1,154 962 Peruvian sol 39,064 33,701 825 1,093 Mexican peso 2,732 1,535 115 - Pound sterling 5,839 1,769 199 246 Uruguayan peso 1,890 6,899 - - Other currency 14,959 12,041 778 24 Accounts payable to related entities, current 760 220 - - Chilean peso 546 23 - - U.S. dollar 4 8 - - Other currency 210 189 - - Other provisions, current 959 511 - - Chilean peso 30 28 - - Other currency 929 483 - - Tax liabilities, current - (204 ) 174 2,501 Argentine peso - - 174 2,501 Brazilian real - (3 ) - - Chilean peso - (25 ) - - Other currency - (176 ) - - Up to 90 days 91 days to 1 year As of As of As of As of December 31, December 31, December 31, December 31, Current liabilities 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Other non-financial liabilities, current 25,190 33,439 - - Argentine peso 393 13,463 - - Brazilian real 542 430 - - Chilean peso 11,283 14,999 - - Colombian peso 837 578 - - Euro 5,954 168 - - U.S. dollar 3,160 684 - - Other currency 3,021 3,117 - - Total current liabilities 982,282 906,290 149,063 473,684 Argentine peso 122,845 34,301 8,810 3,408 Brazilian real 29,352 41,167 669 27 Chilean peso 266,603 131,688 90,343 120,265 Colombian peso 3,801 9,627 855 578 Euro 64,035 23,613 9,165 5 U.S. dollar 427,002 606,336 37,304 348,038 Other currency 68,644 59,558 1,917 1,363 More than 1 to 3 years More than 3 to 5 years More than 5 years As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, Non-current liabilities 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Other financial liabilities, non-current 276,436 178,793 263,798 747,218 189,500 41,785 Chilean peso 41,548 59,177 189,500 16,189 189,500 - U.S. dollar 234,888 119,616 74,298 731,029 - 41,785 Accounts payable, non-current 362,964 195,629 - - - - Chilean peso 13,251 10,474 - - - - U.S. dollar 348,329 183,904 - - - - Other currency 1,384 1,251 - - - - Other provisions, non-current 41,514 39,513 - - - - Argentine peso 940 635 - - - - Brazillian real 24,074 23,541 - - - - Chilean peso - 38 - - - - Colombian peso 551 569 - - - - Euro 9,883 8,664 - - - - U.S. dollar 6,066 6,066 - - - - Provisions for employees benefits, non-current 77,579 68,774 - - - - Brazilian real - 28 - - - - Chilean peso 73,399 68,380 - - - - U.S. dollar 4,180 366 - - - - Other non-financial liabilities, non-current - 3 - - - - Colombian peso - 3 - - - - Total non-current liabilities 758,493 482,712 263,798 747,218 189,500 41,785 Argentine peso 940 635 - - - - Brazilian real 24,074 23,569 - - - - Chilean peso 128,198 138,069 189,500 16,189 189,500 - Colombian peso 551 572 - - - - Euro 9,883 8,664 - - - - U.S. dollar 593,463 309,952 74,298 731,029 - 41,785 Other currency 1,384 1,251 - - - - As of As of December 31, December 31, General summary of foreign currency: 2017 2016 ThUS$ ThUS$ Total assets 850,777 659,041 Argentine peso 75,368 76,832 Brazilian real 70,084 72,532 Chilean peso 235,938 137,233 Colombian peso 3,791 13,390 Euro 70,786 32,420 U.S. dollar 181,706 229,222 Other currency 213,104 97,412 Total liabilities 2,343,136 2,651,689 Argentine peso 132,595 38,344 Brazilian real 54,095 64,763 Chilean peso 864,144 406,211 Colombian peso 5,207 10,777 Euro 83,083 32,282 U.S. dollar 1,132,067 2,037,140 Other currency 71,945 62,172 Net position Argentine peso (57,227 ) 38,488 Brazilian real 15,989 7,769 Chilean peso (628,206 ) (268,978 ) Colombian peso (1,416 ) 2,613 Euro (12,297 ) 138 U.S. dollar (950,361 ) (1,807,918 ) Other currency 141,159 35,240 (b) Exchange differences Exchange differences recognized in income, except for financial instruments measured at fair value through profit or loss, for the period ended December 31, 2017, 2016 and 2015, generated a charge of ThUS $ 18,718, a credit of ThUS $ 121,651 and a charge of ThUS $ 467,896, respectively. Exchange differences recognized in equity as reserves for exchange differences for conversion, for the period ended December 31, 2017, 2016 and 2015, generated a charge of ThUS $ 47,495, a credit of ThUS $ 494,362 and a charge of ThUS $1, 409,439, respectively. The following shows the current exchange rates for the U.S. dollar, on the dates indicated: As of December 31, 2017 2016 2015 2014 Argentine peso 18.57 15.84 12.97 8.55 Brazilian real 3.31 3.25 3.98 2.66 Chilean peso 614.75 669.47 710.16 606.75 Colombian peso 2,984.77 3,000.25 3,183.00 2,389.50 Euro 0.83 0.95 0.92 0.82 Strong bolivar 3,345.00 673.76 198.70 12.00 Australian dollar 1.28 1.38 1.37 1.22 Boliviano 6.86 6.86 6.85 6.86 Mexican peso 19.66 20.63 17.34 14.74 New Zealand dollar 1.41 1.44 1.46 1.28 Peruvian Sol 3.24 3.35 3.41 2.99 Uruguayan peso 28.74 29.28 29.88 24.25 |
EARNINGS _ (LOSS) PER SHARE
EARNINGS / (LOSS) PER SHARE | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Loss Per Share | |
EARNINGS / (LOSS) PER SHARE | NOTE 30 - EARNINGS / (LOSS) PER SHARE For the period ended December 31, Basic earnings / (loss) per share 2017 2016 2015 Earnings / (loss) attributable to owners of the parent (ThUS$) 155,304 69,220 (219,274 ) Weighted average number of shares, basic 606,407,693 546,559,599 545,547,819 Basic earnings / (loss) per share (US$) 0.25610 0.12665 (0.40193 ) For the period ended December 31, Diluted earnings / (loss) per share 2017 2016 2015 Earnings / (loss) attributable to owners of the parent (ThUS$) 155,304 69,220 (219,274 ) Weighted average number of shares, basic 606,407,693 546,559,599 (*) 545,547,819 Weighted average number of shares, diluted 606,407,693 546,559,599 545,547,819 Diluted earnings / (loss) per share (US$) 0.25610 0.12665 (0.40193 ) (*) In the calculation of diluted earnings per share have not been considered the compensation plan disclosed in Note 34 (a.1), because the average market price is lower than the price of options. |
CONTINGENCIES
CONTINGENCIES | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of contingent liabilities [abstract] | |
CONTINGENCIES | NOTE 31 – CONTINGENCIES I. Lawsuits 1) Lawsuits filed by LATAM Airlines Group S.A. and Subsidiaries Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ Atlantic Aviation Investments LLC (AAI). Supreme Court of the State of New York County of New York. 07-6022920 Atlantic Aviation Investments LLC. ("AAI"), an indirect subsidiary LATAM Airlines Group S.A., incorporated under the laws of the State of Delaware, sued in August 29 th The decision ordering Variglog to pay principal, interest and costs to AAI is in the enforcement stage in Switzerland. A settlement for CHF 24,541,781.45 was reached in Brazil for the Swiss funds, and it was agreed that it would be divided as follows: (i) 54.6% of Variglog’s assets for the Swiss funds; and (ii) 45.4% to AAI, subject to approval of the Brazilian Bankruptcy Commission. Variglog also filed a petition in Switzerland for recognition of the decision declaring its condition of being in judicial recovery, and subsequently, of being declared in bankruptcy. The Brazilian courts approved the AAI settlement and Variglog’s bankruptcy on April 11, 2016, which were confirmed by those courts on September 21, 2016. The final decision approving the agreement was certified September 23, 2016. US$8.9 million have been recovered thus far to date, leaving a balance of US$2.08 million pending. Variglog funds remain under embargo by AAII in Switzerland. 10,976 Plus interests and costs 2) Lawsuits received by LATAM Airlines Group S.A. and Subsidiaries Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ LATAM Airlines Group S.A. y Lan Cargo S.A. European Commission. - Investigation of alleged infringements to free competition of cargo airlines, especially fuel surcharge. On December 26 th On April 14 th On May 11, 2015, we attended a hearing at which we petitioned for the vacation of the Decision based on discrepancies in the Decision between the operating section, which mentions four infringements (depending on the routes involved) but refers to Lan in only one of those four routes; and the ruling section (which mentions one single conjoint infraction). On November 9 th This fine is being appealed by Lan Cargo S.A. and LATAM Airlines Group S.A. On December 16, 2015, the European Court of Justice revoked the Commission’s decision because of discrepancies. The European Commission did not appeal the decision, but presented a new one on March 17, 2017 reiterating the imposition of the same fine on the eleven original airlines. The fine totals 776,465,000 Euros. It imposed the same fine as before on Lan Cargo and its parent, LATAM Airlines Group S.A., totaling 8.2 million Euros. On May 31, 2017 Lan Cargo S.A. and LATAM Airlines Group S.A. filed a petition with the General Court of the European Union seeking vacation of this decision. We presented our defense in December 2017. 9,823 Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ Lan Cargo S.A. y LATAM Airlines Group S.A. In the High Court of Justice Chancery División (England) Ovre Romerike District Court (Norway) y Directie Juridische Zaken Afdeling Ceveil Recht (Netherlands) , Cologne Regional Court (Landgerich Köln Germany). - Lawsuits filed against European airlines by users of freight services in private lawsuits as a result of the investigation into alleged breaches of competition of cargo airlines, especially fuel surcharge. Lan Cargo S.A. and LATAM Airlines Group S.A., have been sued in court proceedings directly and/or in third party, based in England, Norway, the Netherlands and Germany. Cases are in the uncovering evidence stage. -0- Aerolinhas Brasileiras S.A. Federal Justice. 0008285-53.2015.403.6105 An action seeking to quash a decision and petioning for early protection in order to obgain a revocation of the penalty imposed by the Brazilian Competition Authority (CADE) in the investigation of cargo airlines alleged fair trade violations, in particular the fuel surcharge. This action was filed by presenting a guaranty – policy – in order to suspend the effects of the CADE’s decision regarding the payment of the following fines: (i) ABSA: ThUS$10,438; (ii) Norberto Jochmann: ThUS$201; (iii) Hernan Merino: ThUS$ 102; (iv) Felipe Meyer :ThUS$ 102. The action also deals with the affirmative obligation required by the CADE consisting of the duty to publish the condemnation in a widely circulating newspaper. This obligation had also been stayed by the court of federal justice in this process. Awaiting CADE’s statement. ABSA began a judicial review in search of an additional reduction in the fine amount. At this time we cannot predict the final amount of the fine as the judicial review by the Federal Court Judge is still pending. 11,828 Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ Aerolinhas Brasileiras S.A. Federal Justice. 0001872-58.2014.4.03.6105 An annulment action with a motion for preliminary injunction was filed on 28/02/2014, in order to cancel tax debts of PIS, CONFINS, IPI and II, connected with the administrative process 10831.005704/2006.43. We have been waiting since August 21, 2015 for a statement by Serasa on TAM’s letter of indemnity and a statement by the Union. The statement was authenticated on January 29, 2016. A petition on evidence and replications were filed on June 20, 2016. A new insurance policy was submitted on March 3, 2016 with the change to the guarantee requested by PGFN, which was declared on June 3, 2016. A decision is pending. 15,811 Tam Linhas Aéreas S.A. Department of Federal Revenue of Brazil 19515.720476/2015-83 Alleged irregularities in the SAT payments for the periods 01/2011 to 12/2012 A judgment by CARF is pending since April 12, 2016. 66,258 Tam Linhas Aéreas S.A. Court of the Second Region. 2001.51.01.012530-0 Ordinary judicial action brought for the purpose of declaring the nonexistence of legal relationship obligating the company to collect the Air Fund. Unfavorable court decision in first instance. Currently expecting the ruling on the appeal filed by the company. In order to suspend chargeability of Tax Credit a Guaranty Deposit to the Court was delivered for MUS$106. The court decision requesting that the Expert make all clarifications requested by the parties in a period of 30 days was published on March 29, 2016. The plaintiffs’ submitted a petition on June 21, 2016 requesting acceptance of the opinion of their consultant and an urgent ruling on the dispute. No amount additional to the deposit that has already been made is required if this case is lost. 100,240 Tam Linhas Aéreas S.A. Internal Revenue Service of Brazil. 10880.725950/2011-05 Compensation credits of the Social Integration Program (PIS) and Contribution for Social Security Financing (COFINS) Declared on DCOMPs. The objection ( manifestação de inconformidade 64,383 Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ Aerovías de Integración Regional, AIRES S.A. United States Court of Appeals for the Eleventh Circuit, Florida, U.S.A. 2013-20319 CA 01 The July 30 th The June 20 th This case is being heard by the 45th Civil Court of the Bogotá Circuit in Colombia. The court issued an order on August 16, 2016 setting the hearing date pursuant to Article 101 for February 2, 2017. At that hearing, a reconciliation should have been attempted, the facts in dispute determined, interrogatories made and evidence admitted. At the petition of Regional One’s attorneys on January 27, 2017, which was accepted by the respondent, the hearing to be held on February 2, 2017 was postponed. A reconciliation hearing was held on June 14, 2017 that failed. This commenced the evidentiary stage in which the legal representative of LATAM Airlines Colombia was interrogated. The judge must now decree which evidence must be presented and analyzed. The U.S. Federal Court for the State of Florida rendered a decision on March 26, 2014 sustaining the petition of Lan Colombia Airlines to stay the proceedings in the U.S. as long as the lawsuit in Colombia was pending. The U.S. Court also closed the case administratively. The Federal Court of Appeals confirmed the closing of the U.S. case on April 1, 2015. On October 13, 2015, Regional One filed a petition with the U.S. Court seeking a reopening of the case. Lan Colombia Airlines presented its arguments for keeping the case closed, which were sustained by the Court on August 23, 2016. The case in the U.S. continues to be closed. 12,443 Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ Tam Linhas Aéreas S.A. Internal Revenue Service of Brazil 10880.722.355/2014-52 On August 19th, 2014 the Federal Tax Service issued a notice of violation stating that compensation credits Program (PIS) and the Contribution for the Financing of Social Security COFINS by TAM are not directly related to the activity of air transport. An administrative objection was filed on September 17th, 2014. A first-instance ruling was rendered on June 1, 2016 that was partially favorable. The separate fine was revoked. A voluntary appeal was filed on June 30, 2016, which is pending a decision by CARF. On January 9, 2016, the case was referred to the Second Division, Fourth Chamber, of the Third Section of the Administrative Council of Tax Appeals (CARF). 73,890 Tam Viagens S.A. Department of Finance to the municipality of São Paulo. 67.168.795 / 67.168.833 / 67.168.884 / 67.168.906 / 67.168.914 / 67.168.965 A claim was filed alleging infraction and seeking a fine because of a deficient basis for calculation of the service tax (ISS) because the company supposedly made incorrect deductions. We received notice of the petition on December 22, 2015. The objection was filed on January 19, 2016. The company was notified on November 23, 2016 of the decision that partially sustained the interim infringement ruling. An ordinary appeal was filed on December 19, 2016 before the Municipal Tax Council of Sao Paulo and a judgment is pending. 108,396 Tam Linhas Aéreas S.A. Labor Court of São Paulo. 0001734-78.2014.5.02.0045 Action filed by the Ministry of Labor, which requires compliance with legislation on breaks, extra hours and others. This case is in the initial stages. It could possibly impact both operations and employee work shift control. TAM won in the first instance, but the Prosecutor’s Office has appealed the trial court’s decision. That decision was sustained by the appellate court. A petition by the Prosecutor’s Office for clarification is now pending before the courts. The Office of the Public Prosecutor withdrew the petition for clarification and the case was closed in favor of LATAM. Now pending are the measures pertaining to lawsuit management so that transfer to the court is declared. 16,170 Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ TAM S.A. Conselho Administrativo de Recursos Fiscais. 13855.720077/2014-02 Notice of an alleged infringement presented by Secretaria da Receita Federal do Brasil requiring the payment of IRPJ and CSLL, taxes related to the income earned by TAM on March, 2011, in relation of the reduction of the statute capital of Multiplus S.A. On January 12, 2014, it was filed an appeal against the object of the notice of infringement. Currently, the company is waiting for the court judgment regarding the appeal filed in the Conselho Administrativo de Recursos Fiscais (CARF) The case will be put into the system again for re-assignment for hearing and reporting because of the departure of Eduardo de Andrade, a CARF council member. The decision was against TAM. The lawsuit was on August 13, 2017. The administrative court’s decision was that TAM Linhas Aereas must pay Corporate Income Tax (IRPJ) and the Social Contribution based on Net Profits (CSLL). The Company was summoned to hear a decision on December 18, 2017. TAM filed an appeal on December 28, 2017 and must now await the appellate decision. 149,031 TAM Linhas Aéreas S.A. Sao Paulo Labor Court, Sao Paulo 1001531-73.2016.5.02.0710 The Ministry of Labor filed an action seeking that the company adapt the ergonomics and comfort of seats. In August 2016, the Ministry of Labor filed a new lawsuit before the competent Labor Court in Sao Paulo, in the same terms as case 0000009-45.2016.5.02.090, as previously reported. The judgment is pending. (16/02/2018). 17,230 Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ LATAM Airlines Group S.A. 22° Civil Court of Santiago C-29.945-2016 The Company received notice of a civil liability claim by Inversiones Ranco Tres S.A. on January 18, 2017. It is represented by Mr. Jorge Enrique Said Yarur. It was filed against LATAM Airlines Group S.A. for an alleged contractual default by the Company and against Ramon Eblen Kadiz, Jorge Awad Mehech, Juan Jose Cueto Plaza, Enrique Cueto Plaza and Ignacio Cueto Plaza, directors and officers, for alleged breaches of their duties. In the case of Juan Jose Cueto Plaza, Enrique Cueto Plaza and Ignacio Cueto Plaza, it alleges a breach, as controllers of the Company, of their duties under the incorporation agreement. LATAM has retained legal counsel specializing in this area to defend it. The claim was answered on March 22, 2017 and the plaintiff filed its replication on April 4, 2017. LATAM filed its rejoinder on April 13, 2017, which concluded the argument stage of the lawsuit. A reconciliation hearing was held on May 2, 2017, but the parties did not reach an agreement. The Court issued the evidentiary decree on May 12, 2017. We filed a petition for reconsideration because we disagreed with certain points of evidence. That petition was partially sustained by the Court on June 27, 2017. The evidentiary stage commenced and then concluded on July 20, 2017. Observations to the evidence must now be presented. That period expires August 1, 2017. We filed our observations to the evidence on August 1, 2017. We were served the decision on December 13, 2017 that dismissed the claim since LATAM was in no way liable. The plaintiff filed an appeal on December 26, 2017. Now pending is the admission of the appeal by the Court of Appeals. 21,547 TAM Linhas Aéreas S.A. 10th Jurisdiction of Federal Tax Enforcement of Sao Paulo 0020869-47.2017.4.03.6182 Tax Enforcement Lien No. 0061196-68.2016.4.03.6182 on Profit-Based Social Contributions from 2004 to 2007. This tax enforcement was referred to the 10th Federal Jurisdiction on February 16, 2017. A petition reporting our request to submit collateral was recorded on April 18, 2017. At this time, the period is pending for the plaintiff to respond to our petition. 42,548 TAM Linhas Aéreas S.A. Federal Revenue Bureau 10880.900360/2017-55 A claim regarding the negative Company Income Tax (IRPJ) balance. Appraisals of compensation that were not accepted. The case was referred to the National Claims Management Center of the Federal Revenue Bureau for Sao Paulo on May 11, 2017. 15,910 Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ TAM Linhas Aéreas S.A. Internal Revenue Service of Brazil 16643.000085/2009-47 Notice of claim to recover income taxes and social contributions paid on the basis of net profits (SCL) according to the royalty expenses and use of the TAM trademark. Before the Internal Revenue Service of Brazil. A service of process is expected in the lawsuit on admissibility of the special appeal, filed by the General Counsel of the National Treasury, as well as notification of the decision rendered by the Administrative Council of Tax Appeals (CARF). The decision was made to file a lawsuit on December 5, 2017. 17,657 TAM Linhas Aéreas S.A. Internal Revenue Service of Brazil 10831.012344/2005-55 Notice of an infringement filed by the Company to request the import tax (II), the Social Integration Program (PIS) of the Social Security Funding Contribution (COFINS) as a result of an unidentified international cargo loss. Before the Internal Revenue Service of Brazil. The administrative decision was against the company. The matter is pending a decision by the CARF. 17,844 TAM Linhas Aéreas S.A. Treasury Department of the State of Sao Paulo 3.123.785-0 Notice of an infringement to demand payment of the tax on the circulation of merchandise and services (ICMS) assessable on aircraft imports. Before the Treasury Department of the State of Sao Paulo. A decision is now pending on the appeal that the company has filed with the Federal Supreme Court (STF). 14,647 TAM Linhas Aéreas S.A. Treasury Department of the State of Sao Paulo 4.037.054 Action brought by the Treasury Department of the State of Sao Paulo because of non-payment of the tax on the circulation of merchandise and services (ICMS) in relation to telecommunications services. Before the Treasury Department of the State of Sao Paulo. Defensive arguments have been presented. The first-instance decision sustained all parts of the notice. We filed an ordinary appeal on which a decision is pending by the Sao Paulo Tax Court. 10,808 TAM Linhas Aéreas S.A. DERAT SPO (Delegacía de Receita Federal) 13808.005459/2001-45 Collection of the Social Security Funding Contribution (COFINS) based on gross revenue of the company in the period 1999-2000 The decision on collection was pending through June 2, 2010. 27,226 Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ Pantanal Linhas Aéreas S.A. Tax Enforcement Court 0253410-30.2012.8.26.0014 A lawsuit seeking enforcement of the fine and ICMS. A decision is pending on the appeal. 10,877 TAM Linhas Aéreas S.A Federal Revenue Bureau 10880.938.664/2016-12 An administrative lawsuit about compensation not being proportional to the negative corporate income tax balance. A decision is pending by CARF on the appeal. 27,369 TAM Linhas Aéreas S.A. Vara das execucões fiscais. 1997.0002503-9 This is a tax collection claim for a customs fine—forfeiture of the temporary customs clearance of goods (new lawsuit). Collateral insurance was offered in 2016 and accepted by the Ministry of Finance in a petition made November 9, 2016. The defensive arguments were presented (attachments against the tax collection) and the decision was favorable to TAM, which makes the payment of a fine more unlikely for TAM. Now pending in the lawsuit is a decision in the appeal made by the Ministry of Finance. 9,983 TAM Linhas Aéreas S.A. Delegacía de Receita Federal 10611.720630/2017-16 This is an administrative claim about a fine for the incorrectness of an import declaration (new lawsuit). The administrative defensive arguments were presented September 28, 2017. 22,253 TAM Linhas Aéreas S.A. Delegacía de Receita Federal 10611.720852/2016-58 An improper charge of the Contribution for the Financing of Social Security (COFINS) on an import (new lawsuit). We are currently awaiting a decision. There is no predictable decision date because it depends on the court of the government agency. 16,079 TAM Linhas Aéreas S.A Delegacía de Receita Federal 16692.721.933/2017-80 The Internal Revenue Service of Brazil issued a notice of violation because TAM applied for credits offsetting the contributions for the Social Integration Program (PIS) and the Social Security Funding Contribution (COFINS) that do not bear a direct relationship to air transport (new claim). We are awaiting the presentation of an administrative defense. 34.321 Company Court Case Number Origin Stage of trial Amounts Committed (*) ThUS$ SNEA (Sindicato Nacional das empresas aeroviárias) União Federal 0012177-54.2016.4.01.3400 A claim against the 72% increase in airport control fees (TAT-ADR) and approach control fees (TAT-APP) charged by the Airspace Control Department (“DECEA”). A decision is now pending on the appeal presented by SNEA. 23.118 TAM Linhas Aéreas S/A União Federal 2001.51.01.020420-0 TAM and other airlines filed a recourse claim seeking a finding that there is no legal or tax basis to be released from collecting the Additional Airport Fee (“ATAERO”). A decision by the superior court is pending. The amount is indeterminate because even though TAM is the plaintiff, if the ruling is against it, it could be ordered by the trial judge to pay certain fees. -0- - In order to deal with any financial obligations arising from legal proceedings in effect at December 31, 2017, whether civil, tax, or labor, LATAM Airlines Group S.A. and Subsidiaries, has made provisions, which are included in Other non-current provisions that are disclosed in Note 21. - The Company has not disclosed the individual probability of success for each contingency in order to not negatively affect its outcome. (*) The Company has reported the amounts involved only for the lawsuits for which a reliable estimation can be made of the financial impacts and of the possibility of any recovery, pursuant to Paragraph 86 of IAS 37 Provisions, Contingent Liabilities and Contingent Assets. II. Governmental Investigations 1) On July 25, 2016, LATAM reached agreements with the U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) regarding the investigation of payments for US$1,150,000 by Lan Airlines S.A. in 2006-2007 to a consultant advising it in the resolution of labor matters in Argentina. The purpose of the investigation was to determine whether these payments violated the U.S. Foreign Corrupt Practices Act (“FCPA”) that: (i) forbids bribery of foreign government authorities in order to obtain a commercial advantage; and (ii) requires the companies that must abide by the FCPA to keep appropriate accounting records and implant an adequate internal control system. The FCPA is applicable to LATAM because of its ADR program in effect on the U.S. securities market. After an exhaustive investigation, the DOJ and SEC concluded that there was no violation of the bribery provisions of the FCPA, which is consistent with the results of LATAM’s internal investigation. However, the DOJ and SEC consider that LAN accounted for these payments incorrectly and, consequently, infringed the part of the FCPA requiring companies to keep accurate accounting records. These authorities also consider that LAN’s internal controls in 2006-2007 were weak, so LAN would have also violated the provisions in the FCPA requiring it to maintain an adequate internal control system. The agreements signed, included the following: a) The agreement with the DOJ involves: (i) entering into a Deferred Prosecution Agreement (“DPA”), which is a public contract under which the DOJ files public charges alleging an infringement of the FCPA accounting regulations. LATAM is not obligated to answer these charges, the DOJ will not pursue them for a period of 3 years, and the DOJ will dismiss the charges after expiration of that 3-year period provided LATAM complies with all terms of the DPA. In exchange, LATAM must admit to the negotiated events described in the DPA and agree to pay the negotiated fine explained below and abide by other terms stipulated in the agreement; (ii) clauses in which LATAM admits that the payments to the consultant in Argentina were incorrectly accounted for and that at the time those payments were made (2006-2007), it did not have adequate internal controls in place; (iii) LATAM’s agreement to have an outside consultant monitor, evaluate and report to the DOJ on the effectiveness of LATAM’s compliance program for a period of 27 months; and LATAM’s agreement to continue evaluating and reporting directly to the DOJ on the effectiveness of its compliance program for a period of 9 months after the consultant’s work concludes; and (iv) LATAM paid a fine of ThUS$ 12,750. b) The agreement with the SEC involves: (i) accepting a Cease and Desist Order, which is an administrative resolution of the SEC closing the investigation, in which LATAM will accept certain obligations and statements of fact that are described in the document; (ii) accepting the same obligations regarding the consultant mentioned above; and (iii) LATAM paid a fine of KUS$6,744 and interest of ThUS$ 2,694. Nothing is owed to the SEC at this time as ThUS$ 4,719 was paid in July 2017. LATAM continued to cooperate with the Chilean authorities on this matter. The investigation continues. The 7th Criminal Court set the hearing date for October 24, 2017, at the request of the Office of the Public Prosecutor. The Prosecutor has petitioned that the investigation be closed. 2) LATAM received six Requests for Information from the Central-North Metropolitan Region Legal Division, on October 25, 2016, on November 11, 2016, on March 8, 2017, on March 22, 2017, on July 7, 2017 and the last on August 28, 2017. It requested information related to the investigation of payments made by LAN Airlines in 2006 and 2007 to a consultant who advised it on the resolution of labor matters in Argentina. It also requested an explanation of information provided to the market. The five requests have already been answered and the requested information has been provided. The 7th Criminal Court set the hearing date for October 24, 2017 at the request of the Public Prosecutor. A reopening of the investigation was denied at that hearing and that denial was confirmed by the Santiago Court of Appeals on November 20, 2017. 3) The ecuatorian airline affiliate, LATAM Airlines Ecuador was given notice on August 26, 2016 of an investigation of LATAM Airlines Ecuador and two other airlines begun, at its own initiative, by one of the Investigative Departments of the Ecuadoran Market Power Control Commission, limited to alleged signs of conscious parallelism in relation to specific fares on one domestic route in Ecuador from August 2012 to February 2013. The Investigative Prefecture has 180 days (through February 21, 2017) to issue a report on whether to quash the investigation or file charges against two or more of the parties involved. That period can be extended for another 180 days. A proceeding would begin only if the decision is made to file charges. The Commission extended the term of the investigation for another 180 days (through August 18, 2017) LATAM Airlines Ecuador is cooperating with the authority and has retained a law firm and economist expert in the subject to advise the company during this process and any additional information requested will be furnished. We received notice on August 23, 2017 that the Market Regulatory Commission decided to quash the investigation against AEROLANE LÍNEAS AÉREAS NACIONALES DEL ECUADOR S.A. and two other airlines because there was insufficient information to charge them. This decision is final. |
COMMITMENTS
COMMITMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Commitments | |
COMMITMENTS | NOTE 32 – COMMITMENTS (a) Loan covenants With respect to various loans signed by the Company for the financing of Boeing 767, 767F, 777F and 787 aircraft, which carry the guarantee of the United States Export–Import Bank, limits have been set on some of the Company’s financial indicators on a consolidated basis, for which, in any case non-compliance does not generate acceleration of the loans. Moreover, and related to these same contracts, restrictions are also in place on the Company’s management in terms of its ownership, in relation to the ownership structure and the controlling group, and disposal of the assets which mainly refers to important transfers of assets. The Company and its subsidiaries do not maintain financial credit contracts with banks in Chile that indicate some limits on financial indicators of the Company or its subsidiaries. The Revolving Credit Facility ("Revolving Credit Facility") with guaranteed aircraft, engines, spare parts and supplies for a total amount of US $ 450 million includes restrictions of minimum liquidity measured at the level of the Consolidated Company and measured at the individual level for the companies LATAM Airlines Group S.A. and TAM Linhas Aéreas S.A. which remain stand by while the credit line is not used. This credit line established with a consortium of eleven banks led by Citibank, is not used as of December 31, 2017. As of December 31, 2017, the Company is in compliance with all the indicators detailed above. (b) Commitments under operating leases as lessee Details of the main operating leases are as follows: As of As of December 31, December 31, Lessor Aircraft 2017 2016 ACS Aero 1 Alpha limited Airbus A320 1 - Aircraft 76B-26329 Inc. Boeing 767 1 1 Aircraft 76B-27615 Inc. Boeing 767 - 1 Aircraft 76B-28206 Inc. Boeing 767 1 1 Aviación Centaurus, A.I.E. Airbus A319 3 3 Aviación Centaurus, A.I.E. Airbus A321 1 1 Aviación Real A.I.E. Airbus A319 1 1 Aviación Real A.I.E. Airbus A320 1 1 Aviación Tritón A.I.E. Airbus A319 3 3 Avolon Aerospace AOE 19 Limited Airbus A320 - 1 Avolon Aerospace AOE 20 Limited Airbus A320 - 1 Avolon Aerospace AOE 6 Limited Airbus A320 - 1 Avolon Aerospace AOE 62 Limited Boeing 777 1 1 Avolon Aerospace AOE 100 Limited Airbus A320 2 - AWAS 5234 Trust Airbus A320 1 1 Baker & Spice Aviation Limited Airbus A320 1 1 Bank of America Airbus A321 2 2 Bank of Utah Boeing 787 2 - CIT Aerospace International Airbus A320 1 2 ECAF I 1215 DAC Airbus A320 - 1 ECAF I 2838 DAC Airbus A320 1 1 ECAF I 40589 DAC Boeing 777 1 1 Eden Irish Aircr Leasing MSN 1459 Airbus A320 1 1 GECAS Sverige Aircraft Leasing Worldwide AB Airbus A320 - 1 GFL Aircraft Leasing Netherlands B.V. Airbus A320 - 1 IC Airlease One Limited Airbus A321 1 1 JSA Aircraft 38484, LLC Boeing 787 1 1 JSA Aircraft 7126, LLC Airbus A320 1 1 JSA Aircraft 7128, LLC Airbus A321 1 1 JSA Aircraft 7239, LLC Airbus A321 1 1 JSA Aircraft 7298, LLC Airbus A321 1 1 Macquarie Aerospace Finance 5125-2 Trust Airbus A320 1 1 Macquarie Aerospace Finance 5178 Limited Airbus A320 1 1 As of As of December 31, December 31, Lessor Aircraft 2017 2016 Magix Airlease Limited Airbus A320 - 1 MASL Sweden (8) AB Airbus A320 - 1 Merlin Aviation Leasing (Ireland) 18 Limited Airbus A320 1 1 Merlin Aviation Leasing (Ireland) 7 Limited Airbus A320 1 - NBB Cuckoo Co., Ltd Airbus A321 1 1 NBB Grosbeak Co., Ltd Airbus A321 1 1 NBB Redstart Co. Ltd Airbus A321 1 1 NBB-6658 Lease Partnership Airbus A321 1 1 NBB-6670 Lease Partnership Airbus A321 1 1 Orix Aviation Systems Limited Airbus A320 4 5 PAAL Aquila Company Limited Airbus A321 2 2 PAAL Gemini Company Limited Airbus A321 1 1 SASOF II (J) Aviation Ireland Limited Airbus A319 - 1 Shenton Aircraft Leasing Limited Airbus A320 1 1 Sky High XXIV Leasing Company Limited Airbus A320 5 5 Sky High XXV Leasing Company Limited Airbus A320 2 2 SMBC Aviation Capital Limited Airbus A320 4 6 SMBC Aviation Capital Limited Airbus A321 2 2 TC-CIT Aviation Ireland Limited Airbus A320 - 1 Volito Aviation August 2007 AB Airbus A320 2 2 Volito Aviation November 2006 AB Airbus A320 2 2 Volito November 2006 AB Airbus A320 2 2 Wells Fargo Bank North National Association Airbus A319 2 3 Wells Fargo Bank North National Association Airbus A320 - 2 Wells Fargo Bank Northwest National Association Airbus A320 5 7 Wells Fargo Bank Northwest National Association Airbus A350 2 2 Wells Fargo Bank Northwest National Association Boeing 767 2 3 Wells Fargo Bank Northwest National Association Boeing 777 4 6 Wells Fargo Bank Northwest National Association Boeing 787 11 11 Wilmington Trust Company Airbus A319 - 1 Total 93 111 The rentals are shown in results for the period for which they are incurred. The minimum future lease payments not yet payable are the following: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ No later than one year 462,205 533,319 Between one and five years 1,620,253 1,459,362 Over five years 1,498,064 1,262,509 Total 3,580,522 3,255,190 The minimum operating lease payments charged to income are the following: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Minimum operating lease payments 579,551 568,979 525,134 Total 579,551 568,979 525,134 During 2017 two Airbus A320-200N were added for a period of twelve years each and two Airbus A319-100 aircraft, fifteen Airbus A320 aircraft were returned. On the other hand, two Boeing 787-9 aircraft were added for a period of twelve year each and one Boeing 767-300ER aircraft and one Boeing 767-300 Freighter aircraft were returned. The operating lease agreements entered into by the Parent Company and its subsidiaries establish that aircraft maintenance must be carried out in accordance with the technical provisions of the manufacturer and in the margins agreed in the contracts with the lessor, a cost assumed by the lessee. Additionally, for each aircraft, the lessee must purchase policies that cover the associated risk and the amount of the assets involved. As for the rent payments, these are unrestricted and cannot be netted from other accounts receivable or payable by the lessor and the lessee. At December 31, 2017 the Company has existing letters of credit related to operating leasing as follows: Value Release Creditor Guarantee Debtor Type ThUS$ date GE Capital Aviation Services Limited Lan Cargo S.A. One letter of credit 1,100 Nov 30, 2018 ACS Aero 1 Alpha Limited LATAM Airlines Group S.A. One letter of credit 3,255 Aug 31, 2018 Bank of America LATAM Airlines Group S.A. Three letter of credit 1,043 Jul 2, 2018 Bank of Utah LATAM Airlines Group S.A. One letter of credit 2,000 Mar 24, 2019 Engine Lease Finance Corporation LATAM Airlines Group S.A. One letter of credit 4,750 Oct 8, 2018 GE Capital Aviation Services Ltd. LATAM Airlines Group S.A. Six letter of credit 22,105 Apr 30, 2018 International Lease Finance Corp LATAM Airlines Group S.A. Three letter of credit 1,450 Aug 5, 2018 ORIX Aviation Systems Limited LATAM Airlines Group S.A. Two letter of credit 7,366 Dec 11, 2018 Wells Fargo Bank LATAM Airlines Group S.A. Nine letter of credit 15,160 Mar 2, 2018 CIT Aerospace International Tam Linhas Aéreas S.A. One letter of credit 6,000 Oct 25, 2018 Wells Fargo Bank North N.A. Tam Linhas Aéreas S.A. One letter of credit 5,500 Jul 15, 2018 69,729 (c) Other commitments At December 31, 2017 the Company has existing letters of credit, certificates of deposits and warranty insurance policies as follows: Value Release Creditor Guarantee Debtor Type ThUS$ date Servicio Nacional de Aduana del Ecuador Líneas Aéreas Nacionales del Ecuador S.A. Three letter of credit 1,705 Aug 5, 2018 Corporación Peruana de Aeropuertos y Aviación Comercial Lan Perú S.A. Twenty five letter of credit 1,897 Jan 31, 2018 Lima Airport Partners S.R.L. Lan Perú S.A. Eighteen letter of credit 996 Apr 30, 2018 Superintendencia Nacional de Aduanas y de Administración Tributaria Lan Perú S.A. Ten letter of credit 80,000 Jan 21, 2018 Aena Aeropuertos S.A. LATAM Airlines Group S.A. Four letter of credit 2,809 Nov 15, 2018 American Alternative Insurance Corporation LATAM Airlines Group S.A. Six letter of credit 3,690 Apr 5, 2018 Comisión Europea LATAM Airlines Group S.A. One letter of credit 9,868 Jun 16, 2018 Deutsche Bank A.G. LATAM Airlines Group S.A. One letter of credit 15,000 Mar 31, 2018 Dirección General de Aeronáutica Civil LATAM Airlines Group S.A. Fifty three letter of credit 19,759 Feb 28, 2018 Empresa Pública de Hidrocarburos del Ecuador EP Petroecuador LATAM Airlines Group S.A. One letter of credit 5,500 Jun 18, 2018 Metropolitan Dade County LATAM Airlines Group S.A. Eight letter of credit 2,273 Mar 13, 2018 4ª Vara Mista de Bayeux Tam Linhas Aéreas S.A. One insurance policies guarantee 1,044 Mar 25, 2021 Conselho Administrativo de Conselhos Federais Tam Linhas Aéreas S.A. One insurance policies guarantee 12,703 May 19, 2020 Fundação de Proteão de Defesa do Consumidor Procon Tam Linhas Aéreas S.A. Two insurance policies guarantee 3,926 Apr 1, 2021 União Federal Tam Linhas Aéreas S.A. One insurance policies guarantee 6,604 Oct 20, 2021 União Federal -Fazenda Nacional Tam Linhas Aéreas S.A. One insurance policies guarantee 41,243 Jul 30, 2020 União Federal - Procuradoira - Gral da fazenda Nacional Tam Linhas Aéreas S.A. Four insurance policies guarantee 50,196 Jan 4, 2020 União Federal Vara Comarca de DF Tam Linhas Aéreas S.A. One insurance policies guarantee 1,551 Sep 28, 2021 União Federal Vara Comarca de SP Tam Linhas Aéreas S.A. One insurance policies guarantee 19,268 Feb 22, 2021 280,032 |
TRANSACTIONS WITH RELATED PARTI
TRANSACTIONS WITH RELATED PARTIES | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of transactions between related parties [abstract] | |
TRANSACTIONS WITH RELATED PARTIES | NOTE 33 - TRANSACTIONS WITH RELATED PARTIES (a) Details of transactions with related parties as follows: Transaction amount Nature of Nature of with related parties relationship with Country related parties As of December 31, Tax No. Related party related parties of origin transactions Currency 2017 2016 2015 ThUS$ ThUS$ ThUS$ 96.810.370-9 Inversiones Costa Verde Ltda. y CPA. Related director Chile Tickets sales CLP 18 6 15 65.216.000-K Comunidad Mujer Related director Chile Tickets sales CLP 14 9 2 Services provided for advertising CLP - (12 ) (10 ) 78.591.370-1 Bethia S.A and subsidiaries Related director Chile Services received of cargo transport CLP 1,643 (394 ) (259 ) Services received from National and International Courier CLP (382 ) (285 ) (227 ) Services provided of cargo transport CLP (17 ) 192 30 65.216.000-K Viajes Falabella Ltda. Related director Chile Sales commissions CLP (761 ) (727 ) (50 ) 79.773.440-3 Transportes San Felipe S.A Related director Chile Services received of transfer of passengers CLP - (84 ) (127 ) Tickets sales CLP 1 3 7 87.752.000-5 Granja Marina Tornagaleones S.A. Common shareholder Chile Tickets sales CLP 72 76 117 Foreign Consultoría Administrativa Profesional S.A. de C.V. Associate Mexico Professional counseling services received MXN (2,357 ) (2,563 ) (1,191 ) Foreign Inversora Aeronáutica Argentina Related director Argentina Leases as lessor ARS (251 ) (264 ) (269 ) Revenue billboard advertising maintaining US$ - - 1 Foreign TAM Aviação Executiva e Taxi Aéreo S/A Related director Brazil Services provided BRL 45 (120 ) (61 ) Services received at airports BRL (39 ) 7 5 Foreign Qatar Airways Indirect shareholder Qatar Services provided by aircraft lease US$ 31,707 - - Interlineal received service US$ (2,139 ) - - Interlineal provided service US$ 5,279 - - Services provided of handling US$ 1,002 - - The balances of Accounts receivable and accounts payable to related parties are disclosed in Note 9. Transactions between related parties have been carried out on free-trade conditions between interested and duly-informed parties. (b) Compensation of key management The Company has defined for these purposes that key management personnel are the executives who define the Company’s policies and major guidelines and who directly affect the results of the business, considering the levels of Vice-Presidents, Chief Executives and Directors (Senior). For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Remuneration 17,826 16,514 17,185 Management fees 468 556 547 Non-monetary benefits 740 778 864 Short-term benefits 36,970 23,459 19,814 Share-based payments 13,173 8,085 10,811 Total 69,177 49,392 49,221 |
SHARE-BASED PAYMENTS
SHARE-BASED PAYMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
SHARE-BASED PAYMENTS | NOTE 34 - SHARE-BASED PAYMENTS (a) Compensation plan for increase of capital Compensation plans implemented by providing options for the subscription and payment of shares that have been granted by LATAM Airlines Group S.A. to employees of the Company and its subsidiaries, are recognized in the financial statements in accordance with the provisions of IFRS 2 "Share-based Payment”, showing the effect of the fair value of the options granted under compensation in linear between the date of grant of such options and the date on which these irrevocable. (a.1) Compensation plan 2011 On December 21, 2016, the subscription and payment period of the 4,800,000 shares corresponding to the compensation plan approved at the Extraordinary Shareholders' Meeting held on December 21, 2011, expired. Of the total shares allocated to the 2011 Compensation Plan, only 10,282 shares were subscribed and paid, having been placed on the market in January 2014. In view of the above, at the expiration date, the 2011 Compensation Plan had a balance of 4,789,718 shares pending of subscription and payment, which was deducted from the authorized capital of the Company. Number of Stock Options In share-based payment arrangements Options Expired Opening waived by Action Closing Periods balance executives Options Balance From January 1 to December 31, 2016 4,518,000 (4,172,000 ) (346,000 ) - From January 1 to December 31, 2017 - - - - These options was valued and recorded at fair value at the grant date, determined by the "Black-Scholes-Merton”. No result has been recognized as of December 2017 (ThUS$ 2,989 at December 31, 2016). (a.2) Compensation plan 2013 At the Extraordinary Shareholders’ Meeting held on June 11, 2013, the Company’s shareholders approved motions including increasing corporate equity, of which 1,500,000 shares were allocated to compensation plans for employees of the Company and its subsidiaries, in conformity with the stipulations established in Article 24 of the Corporations Law. With regard to this compensation, a defined date for implementation does not exist. (b) Compensation plan 2016-2018 The company implemented a retention plan long-term for executives, which lasts until December 2018, with a vesting period between October 2018 and March 2019, which consists of an extraordinary bonus whose calculation formula is based on the variation the value to experience the action of LATAM Airlines Group S.A. for a period of time. This benefit is recognized in accordance with the provisions of IFRS 2 "Share-based Payments" and has been considered as cash settled award and therefore recorded at fair value as a liability, which is updated to the closing date of each financial statement with effect on profit or loss. Base Units Opening Closing Periods balance Granted Annulled Exercised Balance From January 1 to December 31, 2016 4,719,720 - - - 4,719,720 From January 1 to December 31, 2017 4,719,720 37,359 (1,193,286 ) (630,897 ) 2,932,896 The fair value has been determined on the basis of the best estimate of the future value of the Company share multiplied by the number of units granted bases. At December 31, 2017, the carrying amount of ThUS$ 13,173, is classified under "Administrative expenses" in the Consolidated Statement of Income by Function. (c) Subsidiaries compensation plans (c.1) Stock Options Multiplus S.A., subsidiaries of TAM S.A., have outstanding stock options at December 31, 2017, which amounted to 316,025 shares (at December 31, 2016, the distribution of outstanding stock options amounted to 394,698 for Multiplus S.A.). Multiplus S.A. 4nd Extraordinary 3rd Grant 4th Grant Grant Description 03/21/2012 04/03/2013 11/20/2013 Total Outstanding option number as December 31, 2016 84,249 173,399 137,050 394,698 Outstanding option number as December 31, 2017 84,249 163,251 68,525 316,025 For Multiplus S.A., the plan's terms provide that the options granted to the usual prizes are divided into three equal parts and employees may exercise one-third of their two, three and four, options respectively, as long as they keep being employees of the company. The agreed term of the options is seven years after the grant of the option. The first extraordinary granting was divided into two equal parts, and only half of the options may be exercised after three years and half after four years. The second extraordinary granting was also divided into two equal parts, which may be exercised after one and two years respectively. The acquisition of the share's rights, in both companies is as follows: Number of shares Number of shares Accrued options Non accrued options As of As of As of As of December 31, December 31, December 31, December 31, Company 2017 2016 2017 2016 Multiplus S.A. - - 316,025 394,698 In accordance with IFRS 2 - Payments based on shares, the fair value of the option must be recalculated and recorded in the liability of the Company, once cash payment is made (cash-settled). The fair value of these options was calculated using the "Black-Scholes-Merton" method, where the assumptions were updated with information from LATAM Airlines Group S.A. As of December 31, 2017 and December 31, 2016 there is no value recorded in liabilities and results. (c.2) Payments based on restricted stock In May of 2014 the Management Council of Multiplus S.A. approved a plan to grant restricted stock, a total of 91,103 ordinary, registered book entry securities with no face value, issued by the Company to beneficiaries. The quantity of restricted stock units was calculated based on employees’ expected remunerations divided by the average price of shares in Multiplus S.A. traded on the BM&F Bovespa exchange in the month prior to issue, April of 2014. This benefits plan will only grant beneficiaries the right to the restricted stock when the following conditions have been met: a. Compliance with the performance goal defined by this Council as return on Capital Invested. b. The Beneficiary must remain as an administrator or employee of the Company for the period running from the date of issue to the following dates described, in order to obtain rights over the following fractions: (i) 1/3 (one third) after the 2nd year from the issue date; (ii) 1/3 (one third) after the 3rd year from the issue date; (iii) 1/3 (one third) after the 4th year from the issue date. Number shares in circulation Not acquired due Opening to breach of employment Closing balance Granted Exercised retention conditions balance From January 1 to December 31, 2016 175,910 138,282 (15,811 ) (60,525 ) 237,856 From January 1 to December 31, 2017 237,856 129,218 (41,801 ) (15,563 ) 309,710 |
STATEMENT OF CASH FLOWS
STATEMENT OF CASH FLOWS | 12 Months Ended |
Dec. 31, 2017 | |
Statement Of Cash Flows Details 3 | |
STATEMENT OF CASH FLOWS | NOTE 35 - STATEMENT OF CASH FLOWS (a) The Company has done significant non-cash transactions mainly with financial leases, which are detailed in Note 17 letter (d), additional information in numeral (iv) Financial leases. (b) Other inflows (outflows) of cash: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Guarantees 59,988 (51,559 ) (2,125 ) Fuel hedge 19,862 (50,029 ) (243,587 ) DOJ fine - (12,750 ) - SEC agreement - (4,719 ) - Fuel derivatives premiums (2,832 ) (6,840 ) (20,932 ) Hedging margin guarantees (4,201 ) 1,184 87,842 Tax paid on bank transaction (6,635 ) (10,668 ) (7,176 ) Bank commissions, taxes paid and other (7,738 ) (769 ) (5,137 ) Change reservation systems (16,120 ) - 11,000 Currency hedge (17,798 ) (39,534 ) 1,802 Court deposits (33,457 ) (33,635 ) (6,314 ) Others - 50 - Total Other inflows (outflows) Operation flow (8,931 ) (209,269 ) (184,627 ) Others deposits in guarantees 3,754 - - Recovery loans convertible into shares - 8,896 20,000 Certificate of bank deposits - - 3,497 Tax paid on bank transaction (2,594 ) (3,716 ) (12,921 ) Others (10,383 ) (4,337 ) - Total Other inflows (outflows) Investment flow (9,223 ) 843 10,576 Loan guarantee 80,615 (74,186 ) - Credit card loan manager - - 3,227 Early redemption of bonds TAM 2020 - - (15,328 ) Guarantees bonds emission - - (26,111 ) Aircraft Financing advances (26,214 ) (125,149 ) (28,144 ) Settlement of derivative contracts (40,695 ) (29,828 ) (35,891 ) Others - - 2,490 Total Other inflows (outflows) Financing flow 13,706 (229,163 ) (99,757 ) (c) Dividends: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Latam Airlines Group S.A. (20,766 ) - - Multiplus S.A. (*) (45,876 ) (40,823 ) (34,632 ) Lan Perú S.A. (*) - (400 ) (400 ) Total dividends paid (66,642 ) (41,223 ) (35,032 ) (*) Dividends paid to minority shareholders d) Reconciliation of liabilities arising from financing activities: As of Cash flows Non-Flow Movements As of Obligations with December 31, Obtainment Payment Interest accrued December 31, financial institutions 2016 Capital Capital Interest and others Reclassifications 2017 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Loans to exporters 278,164 130,000 (99,719 ) (7,563 ) 13,737 - 314,619 Bank loans 585,287 70,357 (345,552 ) (21,127 ) 32,668 - 321,633 Guaranteed obligations 4,758,552 182,140 (486,599 ) (154,072 ) 155,907 (419,085 ) 4,036,843 Other guaranteed obligations 256,420 - (15,022 ) (8,890 ) 9,667 - 242,175 Obligation with the public 1,309,345 1,055,167 (797,828 ) (128,764 ) 146,146 - 1,584,066 Financial leases 1,022,361 - (344,005 ) (46,874 ) 58,937 419,085 1,109,504 Other loans 394,791 13,107 (124,688 ) (22,434 ) 22,024 - 282,800 Total Obligations with financial institutions 8,604,920 1,450,771 (2,213,413 ) (389,724 ) 439,086 - 7,891,640 (e) Advances of aircraft Below are the cash flows associated with aircraft purchases, which are included in the statement of consolidated cash flow, in the item Purchases of properties, plants and equipment: For the periods ended December 31, 2017 2016 MUS$ MUS$ Increases (payments) (205,143 ) (170,684 ) Recoveries 78,641 727,585 Total cash flows (126,502 ) 556,901 |
THE ENVIRONMENT
THE ENVIRONMENT | 12 Months Ended |
Dec. 31, 2017 | |
Environment | |
THE ENVIRONMENT | NOTE 36 - THE ENVIRONMENT LATAM Airlines Group S.A has a commitment to sustainable development seeking to generate value taking into account the governance, environmental and social aspects. The company manages environmental issues at a corporate level, centralized in the Sustainability Management. For the company to monitor and minimize its impact on the environment is a commitment of the highest level; where the continuous improvement and contribute to the solution of the global climate change problem, generating added value to the company and the region, are the pillars of its management. One of the functions of the Sustainability Management in environmental issues, together with the various areas of the Company, is to ensure environmental compliance, implement a management system and environmental programs that comply with the requirements every day more. demanding worldwide; in addition to continuous improvement programs in their internal processes, which generate environmental, social and economic benefits and which are added to those currently carried out. Within the sustainability strategy, the Environment dimension of LATAM Airlines Group S.A., is called Climate Change and is based on the goal of achieving world leadership in this area, and for which we work on the following aspects: i. Carbon footprint ii. Eco Efficiency iii. Sustainable Alternative Energy iv. Standards and Certifications This is how, during 2017, the following initiatives have been carried out: - Implementation of an Environmental Management System for the main operations of the company. It is highlighted that the company during 2016 has recertified its environmental management system in Miami facilities following the guidelines of the international standard ISO 14.001. - Maintenance of the Stage 2 Certification of IATA Environmental Assestment (IEnvA) whose scope is the international flights operated from Chile, the most advanced level of this certification; being the first in the continent and one of the four airlines in the world that have this certification. - Preparation of the environmental chapter for the sustainability report of the company, which allows to measure progress in environmental issues. - Answer to the questionnaire of the DJSI. - Measurement and external verification of the Corporate Carbon Footprint. - Neutralization of land operations in the operations of Colombia and Peru with emblematic reforestation projects in the respective countries. It is highlighted that in 2017, LATAM Airlines Group maintained its inclusion for the fourth consecutive year in the world category of the Dow Jones Sustainability Index, with only 3 airlines in the world belonging to this select group. |
EVENTS SUBSEQUENT TO THE DATE O
EVENTS SUBSEQUENT TO THE DATE OF THE FINANCIAL STATEMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
EVENTS SUBSEQUENT TO THE DATE OF THE FINANCIAL STATEMENTS | NOTE 37 - EVENTS SUBSEQUENT TO THE DATE OF THE FINANCIAL STATEMENTS Subsequent to December 31, 2017 and until the date of issuance of these financial statements, there is no knowledge of other financial or other events that significantly affect the balances or their interpretation. The consolidated financial statements of LATAM Airlines Group S.A. and Subsidiaries as of December 31, 2017, have been approved in an Extraordinary Board Meeting on March 14, 2018. |
SUMMARY OF SIGNIFICANT ACCOUN44
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies | |
Basis of Preparation | 2.1. Basis of Preparation The consolidated financial statements of LATAM Airlines Group S.A. for the period ended December 31, 2017, have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (“IASB”) incorporated therein and with the interpretations issued by the International Financial Reporting Standards Interpretations Committee (IFRIC). The consolidated financial statements have been prepared under the historic-cost criterion, although modified by the valuation at fair value of certain financial instruments. The preparation of the consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires management to use its judgment in applying the Company’s accounting policies. Note 4 shows the areas that imply a greater degree of judgment or complexity or the areas where the assumptions and estimates are significant to the consolidated financial statements. During 2016 the Company recorded out of period adjustments resulting in an aggregate net decrease of US$ 18.2 million to "Net income (loss) for the period" for the year ended December 31, 2016. These adjustments include US$ 39.5 million (loss) resulting from an account reconciliation process initi a In order to facilitate comparison, some minor reclassifications have been made to the consolidated financial statements for the previous year. (a) Accounting pronouncements with implementation effective from January 1, 2017: (i) Standards and amendments Date of issue Mandatory Application: Annual periods beginning on or after Amendment to IAS 7: Statement of cash flow January 2016 01/01/2017 Amendment to IAS 12: Income tax January 2016 01/01/2017 (ii) Improvements Improvements to International Financial Reporting Standards (2014-2016 cycle): IFRS 12 Disclosure of interests in other entities December 2016 01/01/2017 The application of standards, amendments, interpretations and improvements had no material impact on the consolidated financial statements of the Company. (b) Accounting pronouncements not yet in force for financial years beginning on January 1, 2017 and which has not been effected early adoption (i) Standards and amendments Date of issue Mandatory Application: Annual periods beginning on or after IFRS 9: Financial instruments. December 2009 01/01/2018 Amendment to IFRS 9: Financial instruments. November 2013 01/01/2018 IFRS 15: Revenue from contracts with customers (1). May 2014 01/01/2018 Amendment to IFRS 15: Revenue from contracts with customers. April 2016 01/01/2018 Mandatory Application: (i) Standards and amendments Date of issue Annual periods Amendment to IFRS 2: Share-based payments June 2016 01/01/2018 Amendment to IFRS 4: Insurance contracts. September 2016 01/01/2018 Amendment to IAS 40: Investment property December 2016 01/01/2018 IFRS 16: Leases (2). January 2016 01/01/2019 Amendment to IFRS 9: Financial Instruments October 2017 01/01/2019 Amendment to IAS 28: Investments in associates and joint ventures October 2017 01/01/2019 IFRS 17: Insurance contracts May 2017 01/01/2021 Amendment to IFRS 10: Consolidated financial statements and IAS 28 Investments in associates and joint ventures. September 2014 To be determined (ii) Improvements Improvements to International Financial Reporting Standards. (cycle 2014-2016) IFRS 1: First-time adoption of international financial reporting standards and IAS 28 investments in associates and joint ventures. December 2016 01/01/2018 Improvements to International Financial Reporting Standards. (cycle 2015-2017) IFRS 3: Business combinations, IAS 12: Income tax, IFRS 11: Joint arrangements and IAS 23: Borrowing costs December 2017 01/01/2019 (iii) Interpretations IFRIC 22: Foreign currency transactions and advance consideration December 2016 01/01/2018 IFRIC 23: Uncertain tax positions June 2017 01/01/2019 The Company’s management believes that the adoption of the standards, amendments and interpretations described above but not yet effective would not have a significant impact on the Company’s consolidated financial statements in the year of their first application, except for IFRS 15 and IFRS 16: (1) IFRS 15 Revenue from Contracts with Customers supersedes actual standard for revenue recognition that actually uses the Company, as IAS 18 Revenue and IFRIC 13 Customer Loyalty Programmes. The core principle of IFRS 15 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This standards supersedes IFRS 15 supersedes, IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers; and SIC-31 Revenue - Barter Transactions Involving Advertising Services. The Company evaluated the possible adoption impacts that this new standard will have on the consolidated financial statements and has identified changes in: i) the recognition of the income associated with the fines for changes, which were previously recognized at the time of the sale and now will be considered as a modification of the initial transport contract and therefore the recognition must be deferred until the rendering of the service; ii) the moment of recognition of the income from the sale of some services or products, where the Company concluded that it acted as principal, and therefore the revenues must be deferred until the service is rendered; and iii) the presentation of the income associated with the sale of products, where the Company concluded that it acted as agent and therefore the income must be presented net of the associated costs. As of December 31, 2017, the effect of the changes indicated above As of December 31, 2017, the effect of the changes indicated above will not have a significant impact on the Company’s consolidated financial statements in the year of its first adoption. (2) The IFRS 16 Leases add important changes in the accounting for lessees by introducing a similar treatment to financial leases for all operating leases with a term of more than 12 months. This mean, in general terms, that an asset should be recognized for the right to use the underlying leased assets and a liability representing its present value of payments associate to the agreement. Monthly leases payments will be replace by the asset depreciation and a financial cost in the income statement. We are evaluating the impact that the adoption of the new lease rule will have on the consolidated financial statements. Currently, we believe that the adoption of this new standard will have a significant impact on the consolidated statement of financial position due to the recording of an asset for right of use and a liability, corresponding to the recording of the leases that are currently registered as operating leases. LATAM Airlines Group S.A. and subsidiaries are still assessing this standard to determinate the effect on their Financial Statements, covenants and other financial indicators. |
Basis of Consolidation | 2.2. Basis of Consolidation (a) Subsidiaries Subsidiaries are all the entities (including special-purpose entities) over which the Company has the power to control the financial and operating policies, which are generally accompanied by a holding of more than half of the voting rights. In evaluating whether the Company controls another entity, the existence and effect of potential voting rights that are currently exercisable or convertible at the date of the consolidated financial statements are considered. The subsidiaries are consolidated from the date on which control is passed to the Company and they are excluded from the consolidation on the date they cease to be so controlled. The results and flows are incorporated from the date of acquisition. Balances, transactions and unrealized gains on transactions between the Company’s entities are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment loss of the asset transferred. When necessary in order to ensure uniformity with the policies adopted by the Company, the accounting policies of the subsidiaries are modified. To account for and identify the financial information revealed when carrying out a business combination, such as the acquisition of an entity by the Company, is apply the acquisition method provided for in IFRS 3: Business combination. (b) Transactions with non-controlling interests The Company applies the policy of considering transactions with non-controlling interests, when not related to loss of control, as equity transactions without an effect on income. (c) Sales of subsidiaries When a subsidiary is sold and a percentage of participation is not retained, the Company derecognizes assets and liabilities of the subsidiary, the non-controlling and other components of equity related to the subsidiary. Any gain or loss resulting from the loss of control is recognized in the consolidated income statement in Other gains (losses). If LATAM Airlines Group S.A. and Subsidiaries retain an ownership of participation in the sold subsidiary, and does not represent control, this is recognized at fair value on the date that control is lost, the amounts previously recognized in Other comprehensive income are accounted as if the Company had disposed directly from the assets and related liabilities, which can cause these amounts are reclassified to profit or loss. The percentage retained valued at fair value is subsequently accounted using the equity method. (d) Investees or associates Investees or associates are all entities over which LATAM Airlines Group S.A. and Subsidiaries have significant influence but have no control. This usually arises from holding between 20% and 50% of the voting rights. Investments in associates are booked using the equity method and are initially recognized at their cost. |
Foreign currency transactions | 2.3. Foreign currency transactions (a) Presentation and functional currencies The items included in the financial statements of each of the entities of LATAM Airlines Group S.A. and Subsidiaries are valued using the currency of the main economic environment in which the entity operates (the functional currency). The functional currency of LATAM Airlines Group S.A. is the United States dollar which is also the presentation currency of the consolidated financial statements of LATAM Airlines Group S.A. and Subsidiaries. (b) Transactions and balances Foreign currency transactions are translated to the functional currency using the exchange rates on the transaction dates. Foreign currency gains and losses resulting from the liquidation of these transactions and from the translation at the closing exchange rates of the monetary assets and liabilities denominated in foreign currency are shown in the consolidated statement of income by function except when deferred in Other comprehensive income as qualifying cash flow hedges. (c) Group entities The results and financial position of all the Group entities (none of which has the currency of a hyper-inflationary economy) that have a functional currency other than the presentation currency are translated to the presentation currency as follows: (i) Assets and liabilities of each consolidated statement of financial position presented are translated at the closing exchange rate on the consolidated statement of financial position date; (ii) The revenues and expenses of each income statement account are translated at the exchange rates prevailing on the transaction dates, and (iii) All the resultant exchange differences by conversion are shown as a separate component in other comprehensive income. The exchange rates used correspond to those fixed in the country where the subsidiary is located, whose functional currency is different to the U.S. dollar. Adjustments to the Goodwill and fair value arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and are translated at the closing exchange rate or period informed. |
Property, plant and equipment | 2.4. Property, plant and equipment The land of LATAM Airlines Group S.A. and Subsidiaries, are recognized at cost less any accumulated impairment loss. The rest of the Properties, plants and equipment are recorded, both in their initial recognition and in their subsequent measurement, at their historical cost less the corresponding depreciation and any loss due to deterioration. The amounts of advances paid to the aircraft manufacturers are activated by the Company under Construction in progress until they are received. Subsequent costs (replacement of components, improvements, extensions, etc.) are included in the value of the initial asset or are recognized as a separate asset, only when it is probable that the future economic benefits associated with the elements of property, plant and equipment, they will flow to the Company and the cost of the item can be determined reliably. The value of the replaced component is written off. The rest of the repairs and maintenance are charged to the result of the year in which they are incurred. The depreciation of the properties, plants and equipment is calculated using the linear method over their estimated technical useful lives; except in the case of certain technical components which are depreciated on the basis of cycles and hours flown. The residual value and the useful life of the assets are reviewed and adjusted, if necessary, once a year. When the value of an asset exceeds its estimated recoverable amount, its value is immediately reduced to its recoverable amount (Note 2.8). Losses and gains from the sale of property, plant and equipment are calculated by comparing the consideration with the book value and are included in the consolidated statement of income. |
Intangible assets other than goodwill | 2.5. Intangible assets other than goodwill (a) Airport slots and Loyalty program Airport slots and the Coalition and Loyalty program are intangible assets of indefinite useful life and are subject to impairment tests annually as an integral part of each CGU, in accordance with the premises that are applicable, included as follows: Airport slots – Air transport CGU Loyalty program – Coalition and loyalty program Multiplus CGU (See Note 16) The airport slots correspond to an administrative authorization to carry out operations of arrival and departure of aircraft at a specific airport, within a specified period. The Loyalty program corresponds to the system of accumulation and redemption of points that has developed Multiplus S.A., subsidiary of TAM S.A. The Brands, airport Slots and Loyalty program were recognized in fair values determined in accordance with IFRS 3, as a consequence of the business combination with TAM and Subsidiaries. (b) Computer software Licenses for computer software acquired are capitalized on the basis of the costs incurred in acquiring them and preparing them for using the specific software. These costs are amortized over their estimated useful lives, for which the Company has been defined useful lives between 3 and 10 years. Expenses related to the development or maintenance of computer software which do not qualify for capitalization, are shown as an expense when incurred. The personnel costs and others costs directly related to the production of unique and identifiable computer software controlled by the Company, are shown as intangible Assets others than Goodwill when they have met all the criteria for capitalization. (c) Brands The Brands were acquired in the business combination with TAM S.A. and Subsidiaries and recognized at fair value under IFRS. During the year 2016, the estimated useful life of the brands change from an indefinite useful life to a five-year period, the period in which the value of the brands will be amortized (See Note 15). |
Goodwill | 2.6. Goodwill Goodwill represents the excess of acquisition cost over the fair value of the Company’s participation in the net identifiable assets of the subsidiary or associate on the acquisition date. Goodwill related to acquisition of subsidiaries is not amortized but tested for impairment annually or each time that there is evidence of impairment. Gains and losses on the sale of an entity include the book amount of the goodwill related to the entity sold. |
Borrowing costs | 2.7. Borrowing costs Interest costs incurred for the construction of any qualified asset are capitalized over the time necessary for completing and preparing the asset for its intended use. Other interest costs are recognized in the consolidated income statement when they are accrued. |
Losses for impairment of non-financial assets | 2.8. Losses for impairment of non-financial assets Intangible assets that have an indefinite useful life, and developing IT projects, are not subject to amortization and are subject to annual testing for impairment. Assets subject to amortization are subjected to impairment tests whenever any event or change in circumstances indicates that the book value of the assets may not be recoverable. An impairment loss is recorded when the book value is greater than the recoverable amount. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In evaluating the impairment, the assets are grouped at the lowest level for which cash flows are separately identifiable (CGUs). Non-financial assets other than goodwill that have suffered an impairment loss are reviewed if there are indicators of reverse losses at each reporting date. |
Financial assets | 2.9. Financial assets The Company classifies its financial instruments in the following categories: financial assets at fair value through profit and loss and loans and receivables. The classification depends on the purpose for which the financial instruments were acquired. Management determines the classification of its financial instruments at the time of initial recognition, which occurs on the date of transaction. (a) Financial assets at fair value through profit and loss Financial assets at fair value through profit and loss are financial instruments held for trading and those which have been designated at fair value through profit or loss in their initial classification. A financial asset is classified in this category if acquired mainly for the purpose of being sold in the near future or when these assets are managed and measured using fair value. Derivatives are also classified as held for trading unless they are designated as hedges. The financial assets in this category and have been designated initial recognition through profit or loss, are classified as Cash and cash equivalents and Other current financial assets and those designated as instruments held for trading are classified as Other current and non-current financial assets. (b) Loans and receivables Loans and receivables are non-derivative financial instruments with fixed or determinable payments not traded on an active market. These items are classified in current assets except for those with maturity over 12 months from the date of the consolidated statement of financial position, which are classified as non-current assets. Loans and receivables are included in trade and other accounts receivable in the consolidated statement of financial position (Note 2.12). The regular purchases and sales of financial assets are recognized on the trade date – the date on which the Group commits to purchase or sell the asset. Investments are initially recognized at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. Financial assets carried at fair value through profit or losses are initially recognized at fair value, and transaction costs are expensed in the income statement. Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred and the Group has transferred substantially all risks and rewards of ownership. The financial assets at fair value through profit or loss are subsequently carried at fair value. Loans and receivables are subsequently carried at amortized cost using the effective interest rate method. At the date of each consolidated statement of financial position, the Company assesses if there is objective evidence that a financial asset or group of financial assets may have suffered an impairment loss. |
Derivative financial instruments and hedging activities | 2.10. Derivative financial instruments and hedging activities Derivatives are booked initially at fair value on the date the derivative contracts are signed and later they continue to be valued at their fair value. The method for booking the resultant loss or gain depends on whether the derivative has been designated as a hedging instrument and if so, the nature of the item hedged. The Company designates certain derivatives as: (a) Hedge of the fair value of recognized assets (fair value hedge); (b) Hedge of an identified risk associated with a recognized liability or an expected highly- Probable transaction (cash-flow hedge), or (c) Derivatives that do not qualify for hedge accounting. The Company documents, at the inception of each transaction, the relationship between the hedging instrument and the hedged item, as well as its objectives for managing risk and the strategy for carrying out various hedging transactions. The Company also documents its assessment, both at the beginning and on an ongoing basis, as to whether the derivatives used in the hedging transactions are highly effective in offsetting the changes in the fair value or cash flows of the items being hedged. The total fair value of the hedging derivatives is booked as Other non-current financial asset or liability if the remaining maturity of the item hedged is over 12 months, and as an other current financial asset or liability if the remaining term of the item hedged is less than 12 months. Derivatives not booked as hedges are classified as Other financial assets or liabilities. (a) Fair value hedges Changes in the fair value of designated derivatives that qualify as fair value hedges are shown in the consolidated statement of income, together with any change in the fair value of the asset or liability hedged that is attributable to the risk being hedged. (b) Cash flow hedges The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is shown in the statement of other comprehensive income. The loss or gain relating to the ineffective portion is recognized immediately in the consolidated statement of income under other gains (losses). Amounts accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss. In case of variable interest-rate hedges, the amounts recognized in the statement of other comprehensive income are reclassified to results within financial costs at the same time the associated debts accrue interest. For fuel price hedges, the amounts shown in the statement of other comprehensive income are reclassified to results under the line item Cost of sales to the extent that the fuel subject to the hedge is used. For foreign currency hedges, the amounts recognized in the statement of other comprehensive income are reclassified to income as deferred revenue resulting from the use of points, are recognized as Income. When hedging instruments mature or are sold or when they do not meet the requirements to be accounted for as hedges, any gain or loss accumulated in the statement of Other comprehensive income until that moment remains in the statement of other comprehensive income and is reclassified to the consolidated statement of income when the hedged transaction is finally recognized. When it is expected that the hedged transaction is no longer going to occur, the gain or loss accumulated in the statement of other comprehensive income is taken immediately to the consolidated statement of income as “Other gains (losses)”. (c) Derivatives not booked as a hedge The changes in fair value of any derivative instrument that is not booked as a hedge are shown immediately in the consolidated statement of income in “Other gains (losses)”. |
Inventories | 2.11. Inventories Inventories, detailed in Note 10, are shown at the lower of cost and their net realizable value. The cost is determined on the basis of the weighted average cost method (WAC). The net realizable value is the estimated selling price in the normal course of business, less estimated costs necessary to make the sale. |
Trade and other accounts receivable | 2.12. Trade and other accounts receivable Trade accounts receivable are shown initially at their fair value and later at their amortized cost in accordance with the effective interest rate method, less the allowance for impairment losses. An allowance for impairment loss of trade accounts receivable is made when there is objective evidence that the Company will not be able to recover all the amounts due according to the original terms of the accounts receivable. The existence of significant financial difficulties on the part of the debtor, the probability that the debtor is entering bankruptcy or financial reorganization and the default or delay in making payments are considered indicators that the receivable has been impaired. The amount of the provision is the difference between the book value of the assets and the present value of the estimated future cash flows, discounted at the original effective interest rate. The book value of the asset is reduced by the amount of the allowance and the loss is shown in the consolidated statement of income in Cost of sales. When an account receivable is written off, it is charged to the allowance account for accounts receivable. |
Cash and cash equivalents | 2.13. Cash and cash equivalents Cash and cash equivalents include cash and bank balances, time deposits in financial institutions, and other short-term and highly liquid investments. |
Capital | 2.14. Capital The common shares are classified as net equity. Incremental costs directly attributable to the issuance of new shares or options are shown in net equity as a deduction from the proceeds received from the placement of shares. |
Trade and other accounts payables | 2.15. Trade and other accounts payables Trade payables and other accounts payable are initially recognized at fair value and subsequently at amortized cost. |
Interest-bearing loans | 2.16. Interest-bearing loans Financial liabilities are shown initially at their fair value, net of the costs incurred in the transaction. Later, these financial liabilities are valued at their amortized cost; any difference between the proceeds obtained (net of the necessary arrangement| costs) and the repayment value, is shown in the consolidated statement of income during the term of the debt, according to the effective interest rate method. Financial liabilities are classified in current and non-current liabilities according to the contractual payment dates of the nominal principal. |
Current and deferred taxes | 2.17. Current and deferred taxes The expense by current tax is comprised of income and deferred taxes. The charge for current tax is calculated based on tax laws in force on the date of statement of financial position, in the countries in which the subsidiaries and associates operate and generate taxable income. Deferred taxes are calculated using the liability method, on the temporary differences arising between the tax bases of assets and liabilities and their book values. However, if the temporary differences arise from the initial recognition of a liability or an asset in a transaction different from a business combination that at the time of the transaction does not affect the accounting result or the tax gain or loss, they are not booked. The deferred tax is determined using the tax rates (and laws) that have been enacted or substantially enacted at the consolidated financial statements close, and are expected to apply when the related deferred tax asset is realized or the deferred tax liability discharged. Deferred tax assets are recognized when it is probable that there will be sufficient future tax earnings with which to compensate the temporary differences. The tax (current and deferred) is recognized in income by function, unless it relates to an item recognized in other comprehensive income, directly in equity or from business combination. In that case the tax is also recognized in other comprehensive income, directly in income by function or goodwill, respectively. |
Employee benefits | 2.18. Employee benefits (a) Personnel vacations The Company recognizes the expense for personnel vacations on an accrual basis. (b) Share-based compensation The compensation plans implemented based on the shares of the Company are recognized in the consolidated financial statements in accordance with IFRS 2: Share-based payments, for plans based on the granting of options, the effect of fair value is recorded in equity with a charge to remuneration in a linear manner between the date of grant of said options and the date on which they become irrevocable, for the plans considered as cash settled award the fair value, updated as of the closing date of each reporting period, is recorded as a liability with charge to remuneration. (c) Post-employment and other long-term benefits Provisions are made for these obligations by applying the method of the projected unit credit method, and taking into account estimates of future permanence, mortality rates and future wage increases determined on the basis of actuarial calculations. The discount rates are determined by reference to market interest-rate curves. Actuarial gains or losses are shown in other comprehensive income. (d) Incentives The Company has an annual incentives plan for its personnel for compliance with objectives and individual contribution to the results. The incentives eventually granted consist of a given number or portion of monthly remuneration and the provision is made on the basis of the amount estimated for distribution. |
Provisions | 2.19. Provisions Provisions are recognized when: (i) The Company has a present legal or implicit obligation as a result of past events; (ii) It is probable that payment is going to be necessary to settle an obligation; and (iii) The amount has been reliably estimated. |
Revenue recognition | 2.20. Revenue recognition Revenues include the fair value of the proceeds received or to be received on sales of goods and rendering services in the ordinary course of the Company’s business. Revenues are shown net of refunds, rebates and discounts. (a) Rendering of services (i) Passenger and cargo transport The Company shows revenue from the transportation of passengers and cargo once the service has been provided. Consistent with the foregoing, the Company presents the deferred revenues, generated by anticipated sale of flight tickets and freight services, in heading other non - financial liabilities in the Consolidated Statement of Financial Position. (ii) Frequent flyer program The Company currently has a frequent flyer programs, whose objective is customer loyalty through the delivery of kilometers or points fly whenever the programs holders make certain flights, use the services of entities registered with the program or make purchases with an associated credit card. The kilometers or points earned can be exchanged for flight tickets or other services of associated entities. The consolidated financial statements include liabilities for this concept (deferred income), according to the estimate of the valuation established for the kilometers or points accumulated pending use at that date, in accordance with IFRIC 13: Customer loyalty programs. (iii) Other revenues The Company records revenues for other services when these have been provided. (b) Dividend income Dividend income is booked when the right to receive the payment is established. |
Leases | 2.21. Leases (a) When the Company is the lessee – financial lease The Company leases certain Property, plant and equipment in which it has substantially all the risk and benefits deriving from the ownership; they are therefore classified as financial leases. Financial leases are initially recorded at the lower of the fair value of the asset leased and the present value of the minimum lease payments. Every lease payment is separated between the liability component and the financial expenses so as to obtain a constant interest rate over the outstanding amount of the debt. The corresponding leasing obligations, net of financial charges, are included in other financial liabilities. The element of interest in the financial cost is charged to the consolidated statement of income over the lease period so that it produces a constant periodic rate of interest on the remaining balance of the liability for each year. The asset acquired under a financial lease is depreciated over its useful life and is included in Property, plant and equipment. (b) When the Company is the lessee – operating lease Leases, in which the lessor retains an important part of the risks and benefits deriving from ownership, are classified as operating leases. Payments with respect to operating leases (net of any incentive received from the lessor) are charged in the consolidated statement of income on a straight-line basis over the term of the lease. |
Non-current assets or disposal groups classified as held for sale | 2.22. Non-current assets or disposal groups classified as held for sale Non-current assets (or disposal groups) classified as assets held for sale are shown at the lesser of their book value and the fair value less costs to sell. |
Maintenance | 2.23. Maintenance The costs incurred for scheduled heavy maintenance of the aircraft’s fuselage and engines are capitalized and depreciated until the next maintenance. The depreciation rate is determined on technical grounds, according to the use of the aircraft expressed in terms of cycles and flight hours. In case of own aircraft or under financial leases, these maintenance cost are capitalized as Property, plant and equipment, while in the case of aircraft under operating leases, a liability is accrued based on the use of the main components is recognized, since a contractual obligation with the lessor to return the aircraft on agreed terms of maintenance levels exists. These are recognized as Cost of sales. Additionally, some leases establish the obligation of the lessee to make deposits to the lessor as a guarantee of compliance with the maintenance and return conditions. These deposits, often called maintenance reserves, accumulate until a major maintenance is performed, once made, the recovery is requested to the lessor. At the end of the contract period, there is comparison between the reserves that have been paid and required return conditions, and compensation between the parties are made if applicable. The unscheduled maintenance of aircraft and engines, as well as minor maintenance, are charged to results as incurred. |
Environmental costs | 2.24. Environmental costs Disbursements related to environmental protection are charged to results when incurred. |
GENERAL INFORMATION (Tables)
GENERAL INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
General Information | |
Schedule of subsidiaries | The main subsidiaries included in these consolidated financial statements are as follows: a) Participation rate As December 31, 2017 As December 31, 2016 As December 31, 2015 Country Functional Tax No. Company of origin Currency Direct Indirect Total Direct Indirect Total Direct Indirect Total % % % % % % % % % 96.518.860-6 Latam Travel Chile S.A. and Subsidary (*) Chile US$ 99.9900 0.0100 100.0000 99.9900 0.0100 100.0000 99.9900 0.0100 100.0000 96.763.900-1 Inmobiliaria Aeronáutica S.A. Chile US$ 0.0000 0.0000 0.0000 99.0100 0.9900 100.0000 99.0100 0.9900 100.0000 96.969.680-0 Lan Pax Group S.A. and Subsidiaries Chile US$ 99.8361 0.1639 100.0000 99.8361 0.1639 100.0000 99.8361 0.1639 100.0000 Foreign Lan Perú S.A. Peru US$ 49.0000 21.0000 70.0000 49.0000 21.0000 70.0000 49.0000 21.0000 70.0000 Foreign Lan Chile Investments Limited and Subsidiary Cayman Ins land US$ 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 99.9900 0.0100 100.0000 93.383.000-4 Lan Cargo S.A. Chile US$ 99.8939 0.0041 99.8980 99.8939 0.0041 99.8980 99.8939 0.0041 99.8980 Foreign Connecta Corporation U.S.A. US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 Foreign Prime Airport Services Inc. and Subsidary U.S.A. US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 96.951.280-7 Transporte Aéreo S.A. Chile US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 Foreign Aircraft International Leasing Limited U.S.A. US$ 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 100.0000 100.0000 96.631.520-2 Fast Air Almacenes de Carga S.A. Chile CLP 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 96.631.410-9 Ladeco Cargo S.A. Chile CLP 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 100.0000 100.0000 Foreign Laser Cargo S.R.L. Argentina ARS 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 Foreign Lan Cargo Overseas Limited and Subsidiaries Bahamas US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 96.969.690-8 Lan Cargo Inversiones S.A. and Subsidary Chile US$ 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 0.0000 100.0000 100.0000 96.575.810-0 Inversiones Lan S.A. and Subsidiaries Chile US$ 99.7100 0.2900 100.0000 99.7100 0.2900 100.0000 99.7100 0.2900 100.0000 96.847.880-K Technical Trainning LATAM S.A. Chile CLP 99.8300 0.1700 100.0000 99.8300 0.1700 100.0000 99.8300 0.1700 100.0000 Foreign Latam Finance Limited Cayman Ins land US$ 100.0000 0.0000 100.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Foreign Peuco Finance Limited Cayman Ins land US$ 100.0000 0.0000 100.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Foreign Profesional Airline Services INC. U.S.A. US$ 100.0000 0.0000 100.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 Foreign TAM S.A. and Subsidiaries (**) Brazil BRL 63.0901 36.9099 100.0000 63.0901 36.9099 100.0000 63.0901 36.9099 100.0000 (*) In June 2016, Lantours Division de Servicios Terrestres S.A. changes its name to Latam Travel Chile S.A. (**) As of December 31, 2017, indirect ownership participation on TAM S.A and subsidiaries is from Holdco I S.A., LATAM is entitled to 99,9983% of the economic rights and 49% of the rights politicians product of provisional measure No. 714 of the Brazilian Government implemented during 2016 which allows foreign capital to have up to 49% of the property. Thus, since April 2016, LATAM Airlines Group S.A. owns 901 voting shares of Holdco I S.A., equivalent to 49% of the total shares with voting rights of said company and TEP Chile S.A. owns 938 voting shares of Holdco I S.A., equivalent to 51% of the total voting shares of that company. b) Financial Information Statement of financial position Net Income For the periods ended December 31, As of December 31, 2017 As of December 31, 2016 As of December 31, 2015 2017 2016 2015 Tax No. Company Assets Liabilities Equity Assets Liabilities Equity Assets Liabilities Equity Gain/(loss) ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ 96.518.860-6 Latam TravelChile S.A. and Subsidary (*) 6,771 2,197 4,574 5,468 2,727 2,741 5,613 5,522 91 1,833 2,650 2,341 96.763.900-1 Inmobiliaria Aeronáutica S.A. - - - 36,756 8,843 27,913 39,302 14,832 24,470 - 3,443 1,404 96.969.680-0 Lan PaxGroup S.A. and Subsidiaries (**) 499,345 1,101,548 (596,406 ) 475,763 1,045,761 (561,472 ) 519,663 1,049,232 (521,907 ) (35,943 ) (36,331 ) (35,187 ) Foreign Lan Perú S.A. 315,607 303,204 12,403 306,111 294,912 11,199 255,691 240,938 14,753 1,205 (2,164 ) 5,068 Foreign Lan Chile Investments Limited and Subsidiary (**) - - - - - - 2,015 13 2,002 - 23 (13 ) 93.383.000-4 Lan Cargo S.A. 584,169 371,934 212,235 480,908 239,728 241,180 483,033 217,037 265,966 (30,220 ) (24,813 ) (74,408 ) Foreign Connecta Corporation 38,735 17,248 21,487 31,981 23,525 8,456 37,070 38,298 (1,228 ) 13,013 9,684 194 Foreign Prime Airport Services Inc. and Subsidary (**) 12,671 15,722 (3,051 ) 7,385 11,294 (3,909 ) 6,683 11,180 (4,497 ) 857 588 279 96.951.280-7 Transporte Aéreo S.A. 324,498 104,357 220,141 340,940 124,805 216,135 331,117 122,666 208,451 2,172 8,206 5,878 Foreign Aircraft International Leasing Limited - - - - 4 (4 ) - 9 (4 ) 96.631.520-2 Fast Air Almacenes de Carga S.A. 12,931 4,863 8,068 10,023 3,645 6,378 8,985 4,641 4,344 939 1,717 1,811 Foreign Laser Cargo S.R.L. 18 27 (9 ) 21 32 (11 ) 27 39 (12 ) 2 (1 ) 69 Foreign Lan Cargo Overseas Limited and Subsidiaries (**) 66,039 42,271 18,808 54,092 35,178 15,737 62,406 43,759 15,563 3,438 176 3,344 96.969.690-8 Lan Cargo Inversiones S.A. and Subsidary (**) 144,884 156,005 (10,112 ) 80,644 95,747 (13,506 ) 54,179 68,220 (12,601 ) 3,389 (910 ) 113 96.575.810-0 Inversiones Lan S.A. and Subsidiaries (**) 11,681 5,201 6,377 10,971 6,452 4,452 16,512 14,676 1,828 1,561 2,549 2,772 96.847.880-K Technical Trainning LATAM S.A. 1,967 367 1,600 1,745 284 1,461 1,527 266 1,261 109 73 (72 ) Foreign Latam Finance Limited 678,289 708,306 (30,017 ) - - - - - - (30,017 ) - - Foreign Peuco Finance Limited 608,191 608,191 - - - - - - - - - - Foreign Profesional Airline Services INC. 3,703 3,438 265 - - - - - - 294 - - Foreign TAM S.A. and Subsidiaries (**) 4,490,714 3,555,423 856,829 5,287,286 4,710,308 495,562 4,969,553 4,199,223 423,190 160,582 2,107 (183,581 ) (*) In June 2016, Lantours Division of Terrestrial Services S.A. changed its name to Latam Travel Chile S.A. (**) The Equity reported corresponds to Equity attributable to owners of the parent, it does not include Non-controlling interest. |
SUMMARY OF SIGNIFICANT ACCOUN46
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies | |
Schedule of reconciliation of differences in Income tax system | In order to facilitate comparison, some minor reclassifications have been made to the consolidated financial statements for the previous year. (a) Accounting pronouncements with implementation effective from January 1, 2017: (i) Standards and amendments Date of issue Mandatory Application: Annual periods beginning on or after Amendment to IAS 7: Statement of cash flow January 2016 01/01/2017 Amendment to IAS 12: Income tax January 2016 01/01/2017 (ii) Improvements Improvements to International Financial Reporting Standards (2014-2016 cycle): IFRS 12 Disclosure of interests in other entities December 2016 01/01/2017 The application of standards, amendments, interpretations and improvements had no material impact on the consolidated financial statements of the Company. (b) Accounting pronouncements not yet in force for financial years beginning on January 1, 2017 and which has not been effected early adoption (i) Standards and amendments Date of issue Mandatory Application: Annual periods beginning on or after IFRS 9: Financial instruments. December 2009 01/01/2018 Amendment to IFRS 9: Financial instruments. November 2013 01/01/2018 IFRS 15: Revenue from contracts with customers (1). May 2014 01/01/2018 Amendment to IFRS 15: Revenue from contracts with customers. April 2016 01/01/2018 Mandatory Application: (i) Standards and amendments Date of issue Annual periods Amendment to IFRS 2: Share-based payments June 2016 01/01/2018 Amendment to IFRS 4: Insurance contracts. September 2016 01/01/2018 Amendment to IAS 40: Investment property December 2016 01/01/2018 IFRS 16: Leases (2). January 2016 01/01/2019 Amendment to IFRS 9: Financial Instruments October 2017 01/01/2019 Amendment to IAS 28: Investments in associates and joint ventures October 2017 01/01/2019 IFRS 17: Insurance contracts May 2017 01/01/2021 Amendment to IFRS 10: Consolidated financial statements and IAS 28 Investments in associates and joint ventures. September 2014 To be determined (ii) Improvements Improvements to International Financial Reporting Standards. (cycle 2014-2016) IFRS 1: First-time adoption of international financial reporting standards and IAS 28 investments in associates and joint ventures. December 2016 01/01/2018 Improvements to International Financial Reporting Standards. (cycle 2015-2017) IFRS 3: Business combinations, IAS 12: Income tax, IFRS 11: Joint arrangements and IAS 23: Borrowing costs December 2017 01/01/2019 (iii) Interpretations IFRIC 22: Foreign currency transactions and advance consideration December 2016 01/01/2018 IFRIC 23: Uncertain tax positions June 2017 01/01/2019 |
FINANCIAL RISK MANAGEMENT (Tabl
FINANCIAL RISK MANAGEMENT (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Schedule of level of hedge | The following tables show the level of hedge for different periods: Positions as of December 31, 2017 (*) Maturities Q118 Q218 Q318 Total Percentage of coverage over the expected volume of consumption 19 % 12 % 5 % 12 % (*) The volume shown in the table considers all the hedging instruments (swaps and options). Positions as of December 31, 2016 (*) Maturities Q117 Q217 Total Percentage of coverage over the expected volume of consumption 21 % 16 % 18 % (*) The volume shown in the table considers all the hedging instruments (swaps and options). |
Schedule of class of liability for the analysis of liquidity risk ordered by date of maturity | LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2 Chile. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Loans to exporters 97.032.000-8 BBVA Chile US$ 75,863 - - - - 75,863 75,000 At Expiration 2.30 2.30 97.032.000-8 BBVA Chile UF - 57,363 - - - 57,363 55,801 At Expiration 3.57 2.77 97.036.000-K SANTANDER Chile US$ 30,131 - - - - 30,131 30,000 At Expiration 2.49 2.49 97.030.000-7 ESTADO Chile US$ 40,257 - - - - 40,257 40,000 At Expiration 2.57 2.57 97.003.000-K BANCO DO BRASIL Chile US$ 100,935 - - - - 100,935 100,000 At Expiration 2.40 2.40 97.951.000-4 HSBC Chile US$ 12,061 - - - - 12,061 12,000 At Expiration 2.03 2.03 Bank loans 97.023.000-9 CORPBANCA Chile UF 22,082 22,782 43,430 - - 88,294 84,664 Quarterly 3.68 3.68 0-E BLADEX U.S.A. US$ - 16,465 15,628 - - 32,093 30,000 Semiannual 5.51 5.51 97.036.000-K SANTANDER Chile US$ 2,040 3,368 202,284 - - 207,692 202,284 Quarterly 4.41 4.41 Obligations with the public 0-E BANK OF NEW YORK U.S.A. US$ - 84,375 650,625 96,250 772,188 1,603,438 1,200,000 At Expiration 7.44 7.03 97.030.000-7 ESTADO Chile UF - 20,860 41,720 226,379 245,067 534,026 379,274 At Expiration 5.50 5.50 Guaranteed obligations 0-E CREDIT AGRICOLE France US$ 8,368 25,415 56,305 12,751 - 102,839 98,091 Quarterly 2.66 2.22 0-E BNP PARIBAS U.S.A. US$ 14,498 59,863 148,469 145,315 313,452 681,597 575,221 Quarterly 3.41 3.40 0-E WELLS FARGO U.S.A. US$ 30,764 92,309 246,285 246,479 245,564 861,401 808,987 Quarterly 2.46 1.75 0-E WILMINGTON TRUST COMPANY U.S.A. US$ 32,026 95,042 253,469 244,836 676,474 1,301,847 1,034,853 Quarterly 4.48 4.48 0-E CITIBANK U.S.A. US$ 14,166 42,815 114,612 112,435 102,045 386,073 351,217 Quarterly 3.31 2.47 0-E BTMU U.S.A. US$ 3,292 9,997 26,677 26,704 14,133 80,803 74,734 Quarterly 2.87 2.27 0-E APPLE BANK U.S.A. US$ 1,611 4,928 13,163 13,196 7,369 40,267 37,223 Quarterly 2.78 2.18 0-E US BANK U.S.A. US$ 18,485 55,354 146,709 145,364 158,236 524,148 472,833 Quarterly 4.00 2.82 0-E DEUTSCHE BANK U.S.A. US$ 4,043 12,340 32,775 32,613 32,440 114,211 96,906 Quarterly 4.39 4.39 0-E NATIXIS France US$ 18,192 54,952 129,026 105,990 166,011 474,171 413,011 Quarterly 3.42 3.40 0-E PK AirFinance U.S.A. US$ 2,375 7,308 20,812 18,104 - 48,599 46,500 Monthly 3.18 3.18 0-E KFW IPEX-BANK Germany US$ 2,570 7,111 16,709 1,669 - 28,059 26,888 Quarterly 3.31 3.31 0-E AIRBUS FINANCIAL U.S.A. US$ 2,033 6,107 15,931 - - 24,071 22,925 Monthly 3.19 3.19 0-E INVESTEC England US$ 1,930 11,092 26,103 26,045 11,055 76,225 63,378 Semiannual 6.04 6.04 Other guaranteed obligations 0-E CREDIT AGRICOLE France US$ 1,757 5,843 246,926 - - 254,526 241,287 At Expiration 3.38 3.38 Financial leases 0-E ING U.S.A. US$ 5,890 12,076 28,234 - - 46,200 42,957 Quarterly 5.67 5.00 0-E CITIBANK U.S.A. US$ 12,699 38,248 91,821 51,222 2,880 196,870 184,274 Quarterly 3.78 3.17 0-E PEFCO U.S.A. US$ 13,354 34,430 23,211 - - 70,995 67,783 Quarterly 5.46 4.85 0-E BNP PARIBAS U.S.A. US$ 13,955 35,567 50,433 2,312 - 102,267 98,105 Quarterly 3.66 3.25 0-E WELLS FARGO U.S.A. US$ 12,117 38,076 98,424 66,849 21,253 236,719 221,113 Quarterly 3.17 2.67 97.036.000-K SANTANDER Chile US$ 6,049 18,344 48,829 47,785 3,156 124,163 117,023 Quarterly 2.51 1.96 0-E RRPF ENGINE England US$ 370 3,325 8,798 8,692 9,499 30,684 25,983 Monthly 4.01 4.01 Other loans 0-E CITIBANK (*) U.S.A. US$ 25,783 77,810 206,749 - - 310,342 285,891 Quarterly 6.00 6.00 Derivatives of coverage - Others - US$ 5,656 6,719 6,228 - - 18,603 17,407 - 0.00 0.00 Total 535,352 960,284 3,010,385 1,630,990 2,780,822 8,917,833 7,633,613 (*) Bonus securitized with the future flows of credit card sales in the United States and Canada. Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2017 Debtor: TAM S.A. and Subsidiaries, Tax No. 02.012.862/0001-60, Brazil. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Bank loans 0-E NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ Holland US$ 176 497 1,332 722 - 2,727 2,382 Monthly 6.01 6.01 Financial leases 0-E NATIXIS France US$ 4,248 7,903 23,141 71,323 - 106,615 99,036 Quarterly / Semiannual 5.59 5.59 0-E WACAPOU LEASING S.A. Luxembourg US$ 837 2,411 6,509 3,277 - 13,034 12,047 Quarterly 3.69 3.69 0-E SOCIÉTÉ GÉNÉRALE MILAN BRANCH Italy US$ 11,735 32,230 204,836 - - 248,801 244,513 Quarterly 4.87 4.81 0-E BANCO IBM S.A Brazil BRL 34 - - - - 34 21 Monthly 6.89 6.89 0-E SOCIÉTÉ GÉNÉRALE France BRL 161 12 - - - 173 109 Monthly 6.89 6.89 Total 17,191 43,053 235,818 75,322 - 371,384 358,108 Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2017 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2, Chile. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Trade and other accounts payables - OTHERS OTHERS ThUS$ 566,838 - - - - 566,838 566,838 - - - CLP 165,299 - - - - 165,299 165,299 - - - BRL 315,605 - - - - 315,605 315,605 - - - Other currencies 290,244 11,215 - - - 301,459 301,459 - - - Accounts payable to related parties currents 78.997.060-2 Viajes Falabella Ltda. Chile CLP 534 - - - - 534 534 - - - 0-E Inversora Aeronáutica Argentina Argentina ThUS$ 4 - - - - 4 4 - - - 0-E Consultoría Administrativa Profesional S.A. de C.V. Mexico MXN 210 - - - - 210 210 - - - 78.591.370-1 Bethia S.A. y Filiales Chile CLP 12 - - - - 12 12 - - - Total 1,338,746 11,215 - - - 1,349,961 1,349,961 Total consolidated 1,891,289 1,014,552 3,246,203 1,706,312 2,780,822 10,639,178 9,341,682 Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2016 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2 Chile. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Loans to exporters 97.032.000-8 BBVA Chile ThUS$ 75,212 - - - - 75,212 75,000 At Expiration 1.85 1.85 97.032.000-8 BBVA Chile ThUS$ - 52,675 - - - 52,675 50,381 At Expiration 5.23 4.43 97.036.000-K SANTANDER Chile ThUS$ 30,193 - - - - 30,193 30,000 At Expiration 2.39 2.39 97.030.000-7 ESTADO Chile ThUS$ 40,191 - - - - 40,191 40,000 At Expiration 1.91 1.91 97.003.000-K BANCO DO BRASIL Chile ThUS$ 72,151 - - - - 72,151 70,000 At Expiration 3.08 3.08 97.951.000-4 HSBC Chile ThUS$ 12,054 - - - - 12,054 12,000 At Expiration 1.79 1.79 Bank loans 97.023.000-9 CORPBANCA Chile UF 20,808 61,112 63,188 16,529 - 161,637 153,355 Quarterly 4.06 4.06 0-E BLADEX U.S.A. ThUS$ - 14,579 31,949 - - 46,528 42,500 Semiannual 5.14 5.14 0-E DVB BANK SE U.S.A. ThUS$ 145 199 28,911 - - 29,255 28,911 Quarterly 1.86 1.86 97.036.000-K SANTANDER Chile ThUS$ 1,497 4,308 160,556 - - 166,361 158,194 Quarterly 3.55 3.55 Obligations with the public 0-E BANK OF NEW YORK U.S.A. ThUS$ - 36,250 72,500 518,125 - 626,875 500,000 At Expiration 7.77 7.25 Guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ 11,728 30,916 65,008 33,062 3,760 144,474 138,417 Quarterly 2.21 1.81 0-E BNP PARIBAS U.S.A. ThUS$ 13,805 56,324 142,178 141,965 376,894 731,166 628,118 Quarterly 2.97 2.96 0-E WELLS FARGO U.S.A. ThUS$ 35,896 107,830 287,878 288,338 411,076 1,131,018 1,056,345 Quarterly 2.37 1.68 0-E WILMINGTON TRUST COMPANY U.S.A. ThUS$ 25,833 79,043 206,952 200,674 733,080 1,245,582 967,336 Quarterly 4.25 4.25 0-E CITIBANK U.S.A. ThUS$ 20,224 61,020 164,077 166,165 184,053 595,539 548,168 Quarterly 2.72 1.96 97.036.000-K SANTANDER Chile ThUS$ 5,857 17,697 47,519 48,024 26,448 145,545 138,574 Quarterly 1.98 1.44 0-E BTMU U.S.A. ThUS$ 3,163 9,568 25,752 26,117 27,270 91,870 85,990 Quarterly 2.31 1.72 0-E APPLE BANK U.S.A. ThUS$ 1,551 4,712 12,693 12,891 13,857 45,704 42,754 Quarterly 2.29 1.69 0-E US BANK U.S.A. ThUS$ 18,563 55,592 147,357 146,045 230,747 598,304 532,608 Quarterly 3.99 2.81 0-E DEUTSCHE BANK U.S.A. ThUS$ 6,147 18,599 31,640 31,833 48,197 136,416 117,263 Quarterly 3.86 3.86 0-E NATIXIS France ThUS$ 14,779 44,826 116,809 96,087 206,036 478,537 422,851 Quarterly 2.60 2.57 0-E PK AirFinance U.S.A. ThUS$ 2,265 6,980 19,836 25,610 3,153 57,844 54,787 Monthly 2.40 2.40 0-E KFW IPEX-BANK Germany ThUS$ 2,503 7,587 18,772 9,178 - 38,040 36,191 Quarterly 2.55 2.55 0-E AIRBUS FINANCIAL U.S.A. ThUS$ 1,982 5,972 16,056 7,766 - 31,776 30,199 Monthly 2.49 2.49 0-E INVESTEC England ThUS$ 1,880 10,703 25,369 25,569 23,880 87,401 72,202 Semiannual 5.67 5.67 Other guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ 1,501 4,892 268,922 - - 275,315 256,860 At Expiration 2.85 2.85 Financial leases 0-E ING U.S.A. ThUS$ 5,889 17,671 34,067 12,134 - 69,761 63,698 Quarterly 5.62 4.96 0-E CREDIT AGRICOLE France ThUS$ 1,788 5,457 - - - 7,245 7,157 Quarterly 1.85 1.85 0-E CITIBANK U.S.A. ThUS$ 6,083 18,250 48,667 14,262 - 87,262 78,249 Quarterly 6.40 5.67 0-E PEFCO U.S.A. ThUS$ 17,558 50,593 67,095 3,899 - 139,145 130,811 Quarterly 5.39 4.79 0-E BNP PARIBAS U.S.A. ThUS$ 13,744 41,508 79,165 22,474 - 156,891 149,119 Quarterly 3.69 3.26 0-E WELLS FARGO U.S.A. ThUS$ 5,591 16,751 44,615 44,514 1,880 113,351 103,326 Quarterly 3.98 3.54 0-E DVB BANK SE U.S.A. ThUS$ 4,773 9,541 - - - 14,314 14,127 Quarterly 2.57 2.57 0-E RRPF ENGINE England ThUS$ - - 8,248 8,248 12,716 29,212 25,274 Monthly 2.35 2.35 Other loans 0-E BOEING U.S.A. ThUS$ 163 320 26,214 - - 26,697 26,214 At Expiration 2.35 2.35 0-E CITIBANK (*) U.S.A. ThUS$ 25,802 77,795 207,001 103,341 - 413,939 370,389 Quarterly 6.00 6.00 Hedging derivatives - OTROS - ThUS$ 7,364 15,479 7,846 - - 30,689 - - 0.00 0.00 - Total 508,683 944,749 2,476,840 2,002,850 2,303,047 8,236,169 7,257,368 (*) Securitized bond with the future flows from the sales with credit card in United States and Canada. Clases de pasivo para el análisis del riesgo de liquidez agrupado por vencimiento al 31 de diciembre de 2016 Nombre empresa deudora: TAM S.A. y Filiales, Rut 02.012.862/0001-60, Brasil. Más de Más de Más de País de Descripción Hasta 90 días uno a tres a Más de Total Rut empresa empresa de la 90 a un tres cinco cinco Total Valor Tipo de Tasa Tasa acreedora Nombre empresa acreedora acreedora moneda días año años años años Valor nominal amortización efectiva nominal MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ % % Préstamos bancarios 0-E NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ Holanda US$ 179 493 1,315 1,314 54 3,355 2,882 Mensual 6.01 6.01 0-E CITIBANK E.E.U.U. US$ 1,528 203,150 - - - 204,678 200,000 Al Vencimiento 3.39 3.14 Obligaciones con el Público 0-E THE BANK OF NEW YORK E.E.U.U. US$ - 352,938 83,750 562,813 - 999,501 800,000 Al Vencimiento 8.17 8.00 Arrendamiento Financiero 0-E AFS INVESTMENT IX LLC E.E.U.U. US$ 2,733 7,698 20,522 8,548 - 39,501 35,448 Mensual 1.25 1.25 0-E DVB BANK SE E.E.U.U. US$ 120 165 - - - 285 282 Mensual 2.50 2.50 0-E GENERAL ELECTRIC CAPITAL CORPORATION E.E.U.U. US$ 3,852 5,098 - - - 8,950 8,846 Mensual 2.30 2.30 0-E KFW IPEX-BANK Alemania US$ 592 1,552 - - - 2,144 2,123 Mensual/Trimestral 2.80 2.80 0-E NATIXIS Francia US$ 4,290 7,837 22,834 40,968 41,834 117,763 107,443 Trimestral/Semestral 4.90 4.90 0-E WACAPOU LEASING S.A. Luxemburgo US$ 833 2,385 6,457 6,542 - 16,217 14,754 Trimestral 3.00 3.00 0-E SOCIÉTÉ GÉNÉRALE MILAN BRANCH Italia US$ 11,875 32,116 85,995 171,553 - 301,539 279,335 Trimestral 4.18 4.11 0-E BANCO IBM S.A Brasil BRL 380 1,161 35 - - 1,576 1,031 Mensual 13.63 13.63 0-E HP FINANCIAL SERVICE Brasil BRL 225 - - - - 225 222 Mensual 10.02 10.02 0-E SOCIÉTÉ GÉNÉRALE Francia BRL 146 465 176 - - 787 519 Mensual 13.63 13.63 Total 26,753 615,058 221,084 791,738 41,888 1,696,521 1,452,885 Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2016 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2, Chile. More than More than More than Up to 90 days one to three to More than Creditor 90 to one three five five Nominal Effective Nominal Tax No. Creditor country Currency days year years years years Total value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Trade and other accounts payables - OTHERS OTHERS ThUS$ 549,897 21,215 - - - 571,112 571,112 - - - CLP 48,842 (30 ) - - - 48,812 48,812 - - - BRL 346,037 27 - - - 346,064 346,064 - - - Others currencies 140,471 11,467 - - - 151,938 151,938 - - - Accounts payable to related parties currents 0-E Consultoría Administrativa Profesional S.A. de C.V. Mexico MXN 170 - - - - 170 170 - - - 78.997.060-2 Viajes Falabella Ltda. Chile CLP 46 - - - - 46 46 - - - 0-E TAM Aviação Executiva e Taxi Aéreo S.A. Brazil BRL 28 - - - - 28 28 - - - 65.216.000-K Comunidad Mujer Chile CLP 13 - - - - 13 13 78.591.370-1 Bethia S.A. y Filiales Chile CLP 6 - - - - 6 6 79.773.440-3 Transportes San Felipe S.A. Chile CLP 4 - - - - 4 4 - - - 0-E Inversora Aeronáutica Argentina Argentina ThUS$ 2 - - - - 2 2 - - - Total 1,085,516 32,679 - - - 1,118,195 1,118,195 Total consolidated 1,620,952 1,592,486 2,697,924 2,794,588 2,344,935 11,050,885 9,828,448 |
Schedule of classification of financial instruments at fair value | The following table shows the classification of financial instruments at fair value, depending on the level of information used in the assessment: As of December 31, 2017 As of December 31, 2016 Fair value measurements using values Fair value measurements using values considered as considered as Fair value Level I Level II Level III Fair value Level I Level II Level III ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Assets Cash and cash equivalents 29,658 29,658 - - 15,522 15,522 - - Short-term mutual funds 29,658 29,658 - - 15,522 15,522 - - Other financial assets, current 536,001 473,653 62,348 - 548,402 536,991 11,411 - Fair value derived interest rate 3,113 - 3,113 - - - - - Fair value of fuel derivatives 10,711 - 10,711 - 10,088 - 10,088 - Fair value derived from foreign currency 48,322 - 48,322 - 1,259 - 1,259 - Interest accrued since the last payment date of Cross Currency Swap 202 - 202 - 64 - 64 - Private investment funds 472,232 472,232 - - 536,991 536,991 - - Domestic and foreign bonds 1,421 1,421 - - - - - - Other financial assets, not current 519 - 519 - - - - - Fair value derived from foreign currency 519 - 519 - - - - - Liabilities Other financial liabilities, current 12,200 - 12,200 - 24,881 - 24,881 - Fair value of interest rate derivatives 8,919 - 8,919 - 9,579 - 9,579 - Fair value of foreign currency derivatives 2,092 - 2,092 - 13,155 - 13,155 - Interest accrued since the last payment date of Currency Swap 1,189 - 1,189 - 2,147 - 2,147 - Other financial liabilities, non current 2,617 - 2,617 - 6,679 - 6,679 - Fair value of interest rate derivatives 2,617 - 2,617 - 6,679 - 6,679 - |
Schedule of financial instruments which are not recorded at fair value | In order to meet the disclosure requirements of fair values, the Company has valued these instruments as shown in the table below: As of December 31, 2017 As of December 31, 2016 Book Fair Book Fair value value value value ThUS$ ThUS$ ThUS$ ThUS$ Cash and cash equivalents 1,112,346 1,112,346 933,805 933,805 Cash on hand 8,562 8,562 8,630 8,630 Bank balance 330,430 330,430 255,746 255,746 Overnight 239,292 239,292 295,060 295,060 Time deposits 534,062 534,062 374,369 374,369 Other financial assets, current 23,918 23,918 164,426 164,426 Other financial assets 23,918 23,918 164,426 164,426 Trade debtors, other accounts receivable and Current accounts receivable 1,214,050 1,214,050 1,107,889 1,107,889 Accounts receivable from entities related, current 2,582 2,582 554 554 Other financial assets, not current 87,571 87,571 102,125 102,125 Accounts receivable, non-current 6,891 6,891 8,254 8,254 Other current financial liabilities 1,288,749 1,499,495 1,814,647 2,022,290 Accounts payable for trade and other accounts payable, current 1,695,202 1,695,202 1,593,068 1,593,068 Accounts payable to entities related, current 760 760 269 269 Other financial liabilities, not current 6,602,891 6,738,872 6,790,273 6,970,375 Accounts payable, not current 498,832 498,832 359,391 359,391 |
Fuel-Price Risk [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Schedule of sensitivity analysis | The calculations were made considering a parallel movement of US$ 5 per barrel in the curve of the BRENT and JET crude futures benchmark price at the end of December 2017 and the end of December, 2016. Positions as of December 31, 2017 Positions as of December 31, 2016 Benchmark price effect on equity effect on equity (US$ per barrel) (millions of US$) (millions of US$) +5 +1.8 +3.12 -5 - 3.3 -4.78 |
Foreign Exchange Rate Risk [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Schedule of sensitivity analysis | The following table shows the awareness of FX derivative instruments according to reasonable changes in the exchange rate and its effect on equity. The projection term was defined until the end of the last contract of coverage in force, being the last business day of the second quarter of the year 2018: Appreciation (depreciation) Effect at December 31, 2017 Effect at December 31, 2016 of R$ (*) Millions of US$ Millions of US$ -10% -10.7 -1.02 +10% +9.7 +3.44 (*)Both currencies (BRL and GBP) only apply period to the closing of 2016. The following table shows the variation of financial performance to appreciate or depreciate 10% exchange rate R$/US$: Appreciation (depreciation)* Effect at December 31, 2017 Effect at December 31, 2016 of R$/US$ Millons of US$ Millons of US$ -10% +80.5 +119.2 +10% -80.5 -119.2 (*) Appreciation (depreciation) of US$ regard to the covered currencies. The following table shows the change in Other comprehensive income recognized in Total equity in the case of appreciate or depreciate 10% the exchange rate R$/US$: Appreciation (depreciation) Effect at December 31, 2017 Effect at December 31, 2016 of R$/US$ Millions of US$ Millions of US$ -10% +386.62 +351.04 +10% -316.33 -287.22 |
Interest Rate Risk [Member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Schedule of sensitivity analysis | The following table shows the sensitivity of changes in financial obligations that are not hedged against interest-rate variations. These changes are considered reasonably possible, based on current market conditions each date. Increase (decrease) Positions as of December 31, 2017 Positions as of December 31, 2016 futures curve effect on profit or loss before tax effect on profit or loss before tax in libor 3 months (millions of US$) (millions of US$) +100 basis points -29.26 -32.16 -100 basis points +29.26 +32.16 The calculations were made increasing (decreasing) vertically 100 basis points of the three-month Libor futures curve, being both reasonably possible scenarios according to historical market conditions. Increase (decrease) Positions as of December 31, 2017 Positions as of December 31, 2016 futures curve effect on equity effect on equity in libor 3 months (millions of US$) (millions of US$) +100 basis points +1.9 +3.93 -100 basis points -1.9 -4.03 |
ACCOUNTING ESTIMATES AND JUDG48
ACCOUNTING ESTIMATES AND JUDGMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Estimates And Judgments | |
Schedule for intangible assets with an indefinite useful life assigned to CGU | The book value of the surplus value assigned to each CGU as of December 31, 2017 amounted to ThUS $ 2,146,692 and ThUS $ 525,858 (ThUS $ 2,176,634 and ThUS $ 533,748 as of December 31, 2016), which include the following Intangible assets of indefinite useful life: Air Transport Coalition and loyalty As of As of As of As of December 31, December 31, December 31, December 31, 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Airport Slots 964,513 978,849 - - Loyalty program - - 321,440 326,262 |
SEGMENTAL INFORMATION (Tables)
SEGMENTAL INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segmental Information | |
Schedule of financial statements of operating segment | The segment of loyalty coalition called Multiplus, unlike LATAM Pass and LATAM Fidelidade, is a frequent flyer programs which operate as a unilateral system of loyalty that offers a flexible coalition system, interrelated among its members, with 19.4 million of members, along with being a regulated entity with a separately business and not directly related to air transport. For the periods ended Coalition and Air loyalty program transportation Multiplus Eliminations Consolidated At December 31, At December 31, At December 31, At December 31, 2017 2016 2015 2017 2016 2015 2017 2016 2015 2017 2016 2015 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Income from ordinary activities from external customers (*) 9,159,031 8,587,772 9,278,041 454,876 400,568 462,004 - - - 9,613,907 8,988,340 9,740,045 LAN passenger 4,313,287 4,104,348 4,241,918 - - - - - - 4,313,287 4,104,348 4,241,918 TAM passenger 3,726,314 3,372,799 3,706,692 454,876 400,568 462,004 - - - 4,181,190 3,773,367 4,168,696 Freight 1,119,430 1,110,625 1,329,431 - - - - - - 1,119,430 1,110,625 1,329,431 Income from ordinary activities from transactions with other operating segments 454,876 400,568 462,004 67,554 65,969 67,826 (522,430 ) (466,537 ) (529,830 ) - - Other operating income 308,937 364,551 230,823 240,952 174,197 154,958 - - - 549,889 538,748 385,781 Interest income 28,184 27,287 21,818 50,511 58,380 63,647 (10,718 ) (10,385 ) 78,695 74,949 75,080 Interest expense (393,286 ) (427,054 ) (423,742 ) - - - 10,718 10,385 (393,286 ) (416,336 ) (413,357 ) Total net interest expense (365,102 ) (399,767 ) (401,924 ) 50,511 58,380 63,647 - - - (314,591 ) (341,387 ) (338,277 ) Depreciation and amortization (994,416 ) (952,285 ) (923,311 ) (7,209 ) (8,043 ) (11,095 ) - - - (1,001,625 ) (960,328 ) (934,406 ) Material non-cash items other than depreciation and amortization (75,479 ) 10,069 (507,921 ) (145 ) (991 ) 1,893 - - - (75,624 ) 9,078 (506,028 ) Disposal of fixed assets and inventory losses (39,238 ) (82,734 ) (20,932 ) - - - - - - (39,238 ) (82,734 ) (20,932 ) Doubtful accounts (18,272 ) (29,674 ) (18,292 ) (144 ) (476 ) 611 - - - (18,416 ) (30,150 ) (17,681 ) Exchange differences (18,717 ) 122,129 (469,178 ) (1 ) (478 ) 1,282 - - - (18,718 ) 121,651 (467,896 ) Result of indexation units 748 348 481 - (37 ) - - - - 748 311 481 Income (loss) atributable to owners of the parents (3,482 ) (83,653 ) (356,039 ) 158,783 152,873 136,765 - - - 155,301 69,220 (219,274 ) Participation of the entity in the income of associates - - 37 - - - - - - - - 37 Expenses for income tax (104,376 ) (92,476 ) 249,090 (69,128 ) (70,728 ) (70,707 ) - - - (173,504 ) (163,204 ) 178,383 Segment profit / (loss) 41,931 (42,203 ) (315,497 ) 158,783 152,873 136,765 - - - 200,714 110,670 (178,732 ) Assets of segment 17,430,937 17,805,749 16,924,200 1,373,049 1,400,432 1,182,111 (6,014 ) (7,987 ) (4,893 ) 18,797,972 19,198,194 18,101,418 Segment liabilities 14,007,916 14,469,505 14,700,072 563,849 572,065 490,076 (41,029 ) (28,680 ) (26,278 ) 14,530,736 15,012,890 15,163,870 Amount of non-current asset additions 412,846 1,481,090 1,492,281 - - - - - - 412,846 1,481,090 1,492,281 Property, plant and equipment 325,513 1,390,730 1,439,057 - - - - - - 325,513 1,390,730 1,439,057 Intangibles other than goodwill 87,333 90,360 53,224 - - - - - - 87,333 90,360 53,224 Purchase of non-monetary assets of segment 490,983 782,957 1,622,198 - - - - - - 490,983 782,957 1,622,198 (*) The Company does not have any interest revenue that should be recognized as income from ordinary activities by interest. For the periods ended Coalition and Air loyalty program transportation Multiplus Eliminations Consolidated At December 31, At December 31, At December 31, At December 31, 2017 2016 2015 2017 2016 2015 2017 2016 2015 2017 2016 2015 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Net cash flows from Purchases of property, plant and equipment 403,282 693,581 691,930 384 789 2,440 - - - 403,666 694,370 694,370 Additions associated with maintenance 218,537 197,866 230,526 - - - - - - 218,537 197,866 230,526 Other additions 184,745 495,715 461,404 384 789 2,440 - - - 185,129 496,504 463,844 Purchases of intangible assets 79,102 84,377 41,399 8,216 4,210 11,050 - - - 87,318 88,587 52,449 Net cash flows from (used in) operating activities 1,489,797 827,108 1,531,395 186,367 154,411 147,348 (9,424 ) (635 ) (6,642 ) 1,666,740 980,884 1,672,101 Net cash flow from (used in) investing activities (278,790 ) (426,989 ) (1,679,272 ) (8,632 ) (4,800 ) (16,423 ) - - - (287,422 ) (431,789 ) (1,695,695 ) Net cash flows from (used in) financing activities (1,010,705 ) (246,907 ) (4,708 ) (168,383 ) (149,372 ) (123,652 ) - - - (1,179,088 ) (396,279 ) (128,360 ) (**) The company does not have the cash flows of intangible asset acquisitions associated with maintenance. |
Schedule of revenues by geographic area | The Company’s revenues by geographic area are as follows: For the period ended At December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Peru 626,316 627,215 681,340 Argentina 1,113,467 1,030,973 979,324 U.S.A. 900,413 933,130 1,025,475 Europe 676,282 714,436 723,062 Colombia 359,276 343,001 353,007 Brazil 3,436,402 2,974,234 3,464,297 Ecuador 190,268 198,171 238,500 Chile 1,527,158 1,512,570 1,575,519 Asia Pacific and rest of Latin America 784,325 654,610 699,521 Income from ordinary activities 9,613,907 8,988,340 9,740,045 Other operating income 549,889 538,748 385,781 |
CASH AND CASH EQUIVALENTS (Tabl
CASH AND CASH EQUIVALENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Cash and cash equivalents [abstract] | |
Schedule of cash and cash equivalents | As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Cash on hand 8,562 8,630 Bank balances 330,430 255,746 Overnight 239,292 295,060 Total Cash 578,284 559,436 Cash equivalents Time deposits 534,062 374,369 Mutual funds 29,658 15,522 Total cash equivalents 563,720 389,891 Total cash and cash equivalents 1,142,004 949,327 |
Schedule of cash and cash equivalents denominated by currencies | Cash and cash equivalents are denominated in the following currencies: As of As of Currency December 31, December 31, 2017 2016 ThUS$ ThUS$ Argentine peso 12,135 7,871 Brazilian real 106,499 97,401 Chilean peso 81,845 30,758 Colombian peso 7,264 4,336 Euro 11,746 1,695 US Dollar 882,114 780,124 Other currencies 40,401 27,142 Total 1,142,004 949,327 |
FINANCIAL INSTRUMENTS (Tables)
FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Financial Instruments | |
Schedule of financial instruments by category | Financial instruments by category As of December 31, 2017 Initial designation Assets Loans Held as fair value and Hedge for through receivables derivatives trading profit and loss Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Cash and cash equivalents 1,112,346 - - 29,658 1,142,004 Other financial assets, current (*) 23,918 62,348 1,421 472,232 559,919 Trade and others accounts receivable, current 1,214,050 - - - 1,214,050 Accounts receivable from related entities, current 2,582 - - - 2,582 Other financial assets, non current (*) 87,077 519 494 - 88,090 Accounts receivable, non current 6,891 - - - 6,891 Total 2,446,864 62,867 1,915 501,890 3,013,536 Liabilities Other Held financial Hedge liabilities derivatives Total ThUS$ ThUS$ ThUS$ Other liabilities, current 1,288,749 12,200 1,300,949 Trade and others accounts payable, current 1,695,202 - 1,695,202 Accounts payable to related entities, current 760 - 760 Other financial liabilities, non-current 6,602,891 2,617 6,605,508 Accounts payable, non-current 498,832 - 498,832 Total 10,086,434 14,817 10,101,251 (*) The value presented as initial designation as fair value through profit and loss, corresponds mainly to private investment funds; and loans and receivables corresponds to guarantees given. As of December 31, 2016 Initial designation Assets Loans Held as fair value and Hedge for through receivables derivatives trading profit and loss Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Cash and cash equivalents 933,805 - - 15,522 949,327 Other financial assets, current (*) 164,426 11,411 - 536,991 712,828 Trade and others accounts receivable, current 1,107,889 - - - 1,107,889 Accounts receivable from related entities, current 554 - - - 554 Other financial assets, non current (*) 101,603 - 522 - 102,125 Accounts receivable, non current 8,254 - - - 8,254 Total 2,316,531 11,411 522 552,513 2,880,977 Liabilities Other Held financial Hedge liabilities derivatives Total ThUS$ ThUS$ ThUS$ Other liabilities, current 1,814,647 24,881 1,839,528 Trade and others accounts payable, current 1,593,068 - 1,593,068 Accounts payable to related entities, current 269 - 269 Other financial liabilities, non-current 6,790,273 6,679 6,796,952 Accounts payable, non-current 359,391 - 359,391 Total 10,557,648 31,560 10,589,208 (*) The value presented as initial designation as fair value through profit and loss, corresponds mainly to private investment funds; and loans and receivables corresponds to guarantees given. |
Schedule of financial instruments by currency | Financial instruments by currency a) Assets As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Cash and cash equivalents 1,142,004 949,327 Argentine peso 12,135 7,871 Brazilian real 106,499 97,401 Chilean peso 81,845 30,758 Colombian peso 7,264 4,336 Euro 11,746 1,695 US Dollar 882,114 780,124 Other currencies 40,401 27,142 Other financial assets (current and non-current) 648,009 814,953 Argentine peso 297 337 Brazilian real 475,810 686,501 Chilean peso 26,679 668 Colombian peso 1,928 1,023 Euro 7,853 6,966 US Dollar 133,431 117,346 Other currencies 2,011 2,112 Trade and other accounts receivable, current 1,214,050 1,107,889 Argentine peso 49,958 82,770 Brazilian real 635,890 551,260 Chilean peso 83,415 92,791 Colombian peso 3,249 16,454 Euro 48,286 21,923 US Dollar 257,324 312,394 Other currencies (*) 135,928 30,297 Accounts receivable, non-current 6,891 8,254 Brazilian real 4 4 Chilean peso 6,887 8,250 Accounts receivable from related entities, current 2,582 554 Brazilian real 2 - Chilean peso 735 554 US Dollar 1,845 - Total assets 3,013,536 2,880,977 Argentine peso 62,390 90,978 Brazilian real 1,218,205 1,335,166 Chilean peso 199,561 133,021 Colombian peso 12,441 21,813 Euro 67,885 30,584 US Dollar 1,274,714 1,209,864 Other currencies 178,340 59,551 (*) See the composition of the others currencies in Note 8 Trade, other accounts receivable and non-current accounts receivable. |
TRADE AND OTHER ACCOUNTS RECE52
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Trade and other receivables [abstract] | |
Schedule of trade and other accounts receivable | As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Trade accounts receivable 1,175,796 1,022,933 Other accounts receivable 133,054 170,264 Total trade and other accounts receivable 1,308,850 1,193,197 Less: Allowance for impairment loss (87,909 ) (77,054 ) Total net trade and accounts receivable 1,220,941 1,116,143 Less: non-current portion – accounts receivable (6,891 ) (8,254 ) Trade and other accounts receivable, current 1,214,050 1,107,889 |
Schedule of matured accounts receivable and impaired | The maturity of these accounts at the end of each period is as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Fully performing 1,040,671 907,358 Matured accounts receivable, but not impaired Expired from 1 to 90 days 34,153 27,651 Expired from 91 to 180 days 10,141 9,303 More than 180 days overdue (*) 2,922 1,567 Total matured accounts receivable, but not impaired 47,216 38,521 Matured accounts receivable and impaired Judicial, pre-judicial collection and protested documents 43,175 34,909 Debtor under pre-judicial collection process and portfolio sensitization 44,734 42,145 Total matured accounts receivable and impaired 87,909 77,054 Total 1,175,796 1,022,933 (*) Value of this segment corresponds primarily to accounts receivable that were evaluated in their ability to recover, therefore not requiring a provision. |
Schedule of trade and other accounts receivable and non-current accounts receivable | Currency balances that make up the Trade and other accounts receivable and non-current accounts receivable are the following: As of As of December 31, December 31, Currency 2017 2016 ThUS$ ThUS$ Argentine Peso 49,958 82,770 Brazilian Real 635,894 551,264 Chilean Peso 90,302 101,041 Colombian peso 3,249 16,454 Euro 48,286 21,923 US Dollar 257,324 312,394 Other currency (*) 135,928 30,297 Total 1,220,941 1,116,143 (*) Other currencies Australian Dollar 40,303 5,487 Chinese Yuan 37 271 Danish Krone 197 151 Pound Sterling 5,068 3,904 Indian Rupee 3,277 303 Japanese Yen 18,756 2,601 Norwegian Kroner 133 184 Swiss Franc 2,430 1,512 Korean Won 18,225 4,241 New Taiwanese Dollar 2,983 662 Other currencies 44,519 10,938 Total 135,928 30,254 |
Schedule of impairment losses are the maturity of the portfolio | The criteria used to determine that there is objective evidence of impairment losses are the maturity of the portfolio, specific acts of damage (default) and specific market signals. Maturity Impairment Judicial and pre-judicial collection assets 100 % Over 1 year 100 % Between 6 and 12 months 50 % |
Schedule of allowance for impairment loss of trade and other accounts receivables | Movement in the allowance for impairment loss of Trade and other accounts receivables are the following: Opening (Increase) Closing balance Write-offs Decrease balance Periods ThUS$ ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 (71,042 ) 10,120 850 (60,072 ) From January 1 to December 31, 2016 (60,072 ) 20,910 (37,892 ) (77,054 ) From January 1 to December 31, 2017 (77,054 ) 8,249 (19,104 ) (87,909 ) |
Schedule of accounts receivable categories | The maximum credit-risk exposure at the date of presentation of the information is the fair value of each one of the categories of accounts receivable indicated above. As of December 31, 2017 As of December 31, 2016 Gross exposure Gross Exposure net Gross exposure Gross Exposure net according to impaired of risk according to Impaired of risk balance exposure concentrations balance exposure concentrations ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Trade accounts receivable 1,175,796 (87,909 ) 1,087,887 1,022,933 (77,054 ) 945,879 Other accounts receivable 133,054 - 133,054 170,264 - 170,264 |
ACCOUNTS RECEIVABLE FROM_PAYA53
ACCOUNTS RECEIVABLE FROM/PAYABLE TO RELATED ENTITIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Trade and other receivables [abstract] | |
Schedule of accounts receivable to related party | Accounts Receivable As of As of Country December 31, December 31, Tax No. Related party Relationship of origin Currency 2017 2016 ThUS$ ThUS$ Foreign Qatar Airways Indirect shareholder Qatar ThU$ 1,845 - 78.591.370-1 Bethia S.A. and Subsidiaries Related director Chile CLP 728 538 Foreign TAM Aviação Executiva e Taxi Aéreo S.A. Related director Brazil BRL 2 - 87.752.000-5 Granja Marina Tornagaleones S.A. Common shareholder Chile CLP 5 14 96.810.370-9 Inversiones Costa Verde Ltda. y CPA. Related director Chile CLP 2 2 Total current assets 2,582 554 |
Schedule of accounts payable to related party | Accounts payable As of As of Country December 31, December 31, Tax No. Related party Relationship of origin Currency 2017 2016 ThUS$ ThUS$ 78.997.060-2 Viajes Falabella Ltda. Related director Chile CLP 534 46 78.591.370-1 Bethia S.A. and Subsidiaries Related director Chile CLP 12 6 Foreign Inversora Aeronáutica Argentina S.A. Related director Argentina ThUS$ 4 2 65.216.000-K Comunidad Mujer Related director Chile CLP - 13 Foreign Consultoría Administrativa Profesional S.A. de C.V. Related company México MXN 210 170 Foreign TAM Aviação Executiva e Taxi Aéreo S.A. Related director Brazil BRL - 28 79.773.440-3 Transportes San Felipe S.A Common property Chile CLP - 4 Total current liabilities 760 269 |
INVENTORIES (Tables)
INVENTORIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Inventories Tables | |
Schedule of composition of inventories | The composition of Inventories is as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Technical stock 195,530 191,864 Non-technical stock 41,136 49,499 Total 236,666 241,363 |
Schedule of inventory average cost, net of provision for obsolescence | The items included in this heading are spare parts and materials that will be used mainly in consumption in in-flight and maintenance services provided to the Company and third parties, which are valued at average cost, net of provision for obsolescence, as per the following detail: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Provision for obsolescence Technical stock 21,839 31,647 Provision for obsolescenceNon-technical stock 6,488 3,429 Total 28,327 35,076 |
OTHER FINANCIAL ASSETS (Tables)
OTHER FINANCIAL ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous assets [abstract] | |
Schedule of composition of other financial assets | The composition of other financial assets is as follows: Current Assets Non-current assets Total Assets As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ (a) Other financial assets Private investment funds 472,232 536,991 - - 472,232 536,991 Deposits in guarantee (aircraft) 15,690 16,819 41,058 56,846 56,748 73,665 Guarantees for margins of derivatives 2,197 939 - - 2,197 939 Other investments - - 494 522 494 522 Domestic and foreign bonds 1,421 - - - 1,421 - Other guarantees given 6,031 140,733 46,019 44,757 52,050 185,490 Other - 5,935 - - - 5,935 Subtotal of other financial assets 497,571 701,417 87,571 102,125 585,142 803,542 (b) Hedging assets Interest accrued since the last payment date of Cross currency swap 202 64 - - 202 64 Fair value of interest rate derivatives 3,113 - - - 3,113 - Fair value of foreign currency derivatives 48,322 1,259 519 - 48,841 1,259 Fair value of fuel price derivatives 10,711 10,088 - - 10,711 10,088 Subtotal of hedging assets 62,348 11,411 519 - 62,867 11,411 Total Other Financial Assets 559,919 712,828 88,090 102,125 648,009 814,953 |
OTHER NON-FINANCIAL ASSETS (Tab
OTHER NON-FINANCIAL ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous assets [abstract] | |
Schedule of composition of Other non-financial assets | The composition of other non-financial assets is as follows: Current assets Non-current assets Total Assets As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ (a) Advance payments Aircraft leases 31,322 37,560 4,718 14,065 36,040 51,625 Aircraft insurance and other 17,681 14,717 - - 17,681 14,717 Others 10,012 4,521 1,186 1,573 11,198 6,094 Subtotal advance payments 59,015 56,798 5,904 15,638 64,919 72,436 (b) Other assets Aircraft maintenance reserve (*) 21,505 51,576 51,836 90,175 73,341 141,751 Sales tax 137,866 102,351 37,959 40,232 175,825 142,583 Other taxes 2,475 500 - - 2,475 500 Contributions to Société Internationale de Télécommunications Aéronautiques ("SITA") 327 406 670 591 997 997 Judicial deposits - - 124,438 90,604 124,438 90,604 Others - 611 - 104 - 715 Subtotal other assets 162,173 155,444 214,903 221,706 377,076 377,150 Total Other Non - Financial Assets 221,188 212,242 220,807 237,344 441,995 449,586 (*) Aircraft maintenance reserves reflect prepayment deposits made by the group to lessors of certain aircraft under operating lease agreements in order to ensure that funds are available to support the scheduled heavy maintenance of the aircraft. |
NON-CURRENT ASSETS AND DISPOS57
NON-CURRENT ASSETS AND DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous assets [abstract] | |
Schedule of non-current assets and in disposal groups held for sale | Non-current assets and in disposal groups held for sale at December 31, 2017 and December 31, 2016 are detailed below: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Current assets Aircraft 236,022 281,158 Engines and rotables 9,197 29,083 Other assets 45,884 26,954 Total 291,103 337,195 Current liabilities Other liabilities 15,546 10,152 Total 15,546 10,152 |
Schedule of fleet classified as non-current assets or groups of assets for disposal classified as held | The detail of fleet classified as non-current assets or groups of assets for disposal classified as held for sale is the following: As of As of December 31, December 31, Aircraft 2017 2016 Boeing 777 Freighter 2 (*) 2 (*) Airbus A330-200 1 3 Airbus A320-200 1 1 ATR42-300 1 1 Total 5 7 (*) One aircraft leased to DHL. |
INVESTMENTS IN SUBSIDIARIES (Ta
INVESTMENTS IN SUBSIDIARIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of subsidiaries [abstract] | |
Schedule of significant subsidiaries | Detail of significant subsidiaries and summarized financial information: Ownership As of As of Country of Functional December 31, December 31, Name of significant subsidiary incorporation currency 2017 2016 % % Lan Perú S.A. Peru US$ 70.00000 70.00000 Lan Cargo S.A. Chile US$ 99.89803 99.89803 Lan Argentina S.A. Argentina ARS 99.86560 99.86560 Transporte Aéreo S.A. Chile US$ 100.00000 100.00000 Aerolane Líneas Aéreas Nacionales del Ecuador S.A. Ecuador US$ 100.00000 100.00000 Aerovías de Integración Regional, AIRES S.A. Colombia COP 99.19061 99.19061 TAM S.A. Brazil BRL 99.99938 99.99938 |
Schedule of financial statements of subsidiaries | Summary financial information of significant subsidiaries Results for the period Statement of financial position as of December 31, 2017 ended December 31, 2017 Total Current Non-current Total Current Non-current Net Name of significant subsidiary Assets Assets Assets Liabilities Liabilities Liabilities Revenue Income ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Lan Perú S.A. 315,607 294,308 21,299 303,204 301,476 1,728 1,046,423 1,205 Lan Cargo S.A. 584,169 266,836 317,333 371,934 292,529 79,405 264,544 (30,220 ) Lan Argentina S.A. 198,951 166,445 32,506 143,731 139,914 3,817 387,557 (41,636 ) Transporte Aéreo S.A. 324,498 30,909 293,589 104,357 36,901 67,456 317,436 2,172 Aerolane Líneas Aéreas Nacionales del Ecuador S.A. 96,407 66,166 30,241 84,123 78,817 5,306 219,039 3,722 Aerovías de Integración Regional, AIRES S.A. 138,138 64,160 73,978 91,431 80,081 11,350 279,414 526 TAM S.A. (*) 4,490,714 1,843,822 2,646,892 3,555,423 2,052,633 1,502,790 4,621,338 160,582 Statement of financial position as of December 31, 2016 Results for the period Total Current Non-current Total Current Non-current Net Name of significant subsidiary Assets Assets Assets Liabilities Liabilities Liabilities Revenue Income ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Lan Perú S.A. 306,111 283,691 22,420 294,912 293,602 1,310 967,787 (2,164 ) Lan Cargo S.A. 480,908 144,309 336,599 239,728 211,395 28,333 266,296 (24,813 ) Lan Argentina S.A. 216,331 194,306 22,025 200,172 197,330 2,842 371,896 (29,572 ) Transporte Aéreo S.A. 340,940 36,986 303,954 124,805 59,668 65,137 297,247 8,206 Aerolane Líneas Aéreas Nacionales del Ecuador S.A. 89,667 56,064 33,603 81,101 75,985 5,116 219,676 (1,281 ) Aerovías de Integración Regional, AIRES S.A. 129,734 55,132 74,602 85,288 74,160 11,128 277,503 (13,675 ) TAM S.A. (*) 5,287,286 1,794,189 3,493,097 4,710,308 2,837,620 1,872,688 4,145,951 2,107 Statement of financial position as of December 31, 2015 Results for the period Total Current Non-current Total Current Non-current Net Name of significant subsidiary Assets Assets Assets Liabilities Liabilities Liabilities Revenue Income ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Lan Perú S.A. 255,691 232,547 23,144 240,938 239,521 1,417 1,078,992 5,068 Lan Cargo S.A. 483,033 159,294 323,739 217,037 147,423 69,614 278,117 (74,408 ) Lan Argentina S.A. 195,756 180,558 15,198 170,384 168,126 2,258 443,317 9,432 Transporte Aéreo S.A. 331,117 41,756 289,361 122,666 44,495 78,171 324,464 5,878 Aerolane Líneas Aéreas Nacionales del Ecuador S.A. 126,001 80,641 45,360 116,153 111,245 4,908 246,402 (1,278 ) Aerovías de Integración Regional, AIRES S.A. 130,039 62,937 67,102 75,003 64,829 10,174 291,354 (34,079 ) TAM S.A. (*) 4,711,316 1,350,377 3,360,939 4,199,223 1,963,400 2,235,823 4,597,611 (183,812 ) (*) Correspond to consolidated information of TAM S.A. and Subsidiaries. |
Schedule of non-controlling interest of subsidiary | Non-controlling interest As of As of As of As of Country December 31, December 31, December 31, December 31, Equity Tax No. of origin 2017 2016 2017 2016 % % ThUS$ ThUS$ Lan Perú S.A 0-E Peru 30.00000 30.00000 3,722 3,360 Lan Cargo S.A. and Subsidiaries 93.383.000-4 Chile 0.10196 0.10196 849 957 Promotora Aérea Latinoamericana S.A. and Subsidiaries 0-E Mexico 51.00000 51.00000 4,578 3,162 Inversora Cordillera S.A. and Subsidiaries 0-E Argentina 0,13940 0.70422 3,502 515 Lan Argentina S.A. 0-E Argentina 0,02842 0.13440 79 (311 ) Americonsult de Guatemala S.A. 0-E Guatemala 1.00000 1.00000 1 1 Americonsult Costa Rica S.A. 0-E Costa Rica 1.00000 1.00000 12 12 Linea Aérea Carguera de Colombiana S.A. 0-E Colombia 10.00000 10.00000 (520 ) (905 ) Aerolíneas Regionales de Integración Aires S.A. 0-E Colombia 0.80944 0.80944 461 436 Transportes Aereos del Mercosur S.A. 0-E Paraguay 5.02000 5.02000 1,324 1,104 Multiplus S.A. 0-E Brazil 27.26000 27.26000 77,139 80,313 Total 91,147 88,644 As of As of As of For the period ended Country December 31, December 31, December 31, December 31, Incomes Tax No. of origin 2017 2016 2015 2017 2016 2015 % % % ThUS$ ThUS$ ThUS$ Lan Perú S.A 0-E Peru 30.00000 30.00000 30.00000 360 (649 ) 1,521 Lan Cargo S.A. and Subsidiaries 93.383.000-4 Chile 0.10196 0.10196 0.10605 (4 ) (7 ) (69 ) Promotora Aerea Latinoamericana S.A. and Subsidiaries 0-E Mexico 51.00000 51.00000 51.00000 1,416 96 1,349 Inversora Cordillera S.A. and Subsidiaries 0-E Argentina 0,13940 0.70422 0.70422 117 364 281 Lan Argentina S.A. 0-E Argentina 0,02842 0.13440 1.00000 24 77 61 Americonsult de Guatemala S.A. 0-E Guatemala 1.00000 1.00000 1.00000 - (4 ) 1 Americonsult Costa Rica S.A. 0-E Costa Rica 1.00000 1.00000 1.00000 - - 5 Linea Aérea Carguera de Colombiana S.A. 0-E Colombia 10.00000 10.00000 10.00000 398 (106 ) 14 Aerolíneas Regionales de Integración Aires S.A. 0-E Colombia 0.80944 0.80944 0.98307 4 (140 ) (335 ) Transportes Aereos del Mercosur S.A. 0-E Paraguay 5.02000 5.02000 5.02000 299 146 431 Multiplus S.A. 0-E Brazil 27.26000 27.26000 27.26000 42,796 41,673 37,283 Total 45,410 41,450 40,542 |
INTANGIBLE ASSETS OTHER THAN 59
INTANGIBLE ASSETS OTHER THAN GOODWILL (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule of intangible assets | The details of intangible assets are as follows: Classes of intangible assets Classes of intangible assets (net) (gross) As of As of As of As of December 31, December 31, December 31, December 31, 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Airport slots 964,513 978,849 964,513 978,849 Loyalty program 321,440 326,262 321,440 326,262 Computer software 160,970 157,016 509,377 419,652 Developing software 123,415 91,053 123,415 91,053 Trademarks (1) 46,909 57,133 62,539 63,730 Other assets - - - 808 Total 1,617,247 1,610,313 1,981,284 1,880,354 |
Schedule of movement in Intangible assets | Movement in Intangible assets other than goodwill: Computer Trademarks software Developing Airport and loyalty Net software slots (2) program (1) (2) Total ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 126,797 74,050 1,201,028 478,204 1,880,079 Additions 4,954 48,270 - - 53,224 Withdrawals (4,612 ) (162 ) - (1 ) (4,775 ) Transfer software 28,726 (30,426 ) - - (1,700 ) Foreing exchange (14,871 ) (16,845 ) (384,041 ) (152,910 ) (568,667 ) Amortization (36,736 ) - - - (36,736 ) Closing balance as of December 31, 2015 104,258 74,887 816,987 325,293 1,321,425 Opening balance as of January 1, 2016 104,258 74,887 816,987 325,293 1,321,425 Additions 6,688 83,672 - - 90,360 Withdrawals (736 ) (191 ) - - (927 ) Transfer software 85,029 (74,376 ) - - 10,653 Foreing exchange 5,689 7,061 161,862 64,447 239,059 Amortization (43,912 ) - - (6,345 ) (50,257 ) Closing balance as of December 31, 2016 157,016 91,053 978,849 383,395 1,610,313 Opening balance as of January 1, 2017 157,016 91,053 978,849 383,395 1,610,313 Additions 8,453 78,880 - - 87,333 Withdrawals (244 ) (684 ) - - (928 ) Transfer software 45,783 (45,580 ) - - 203 Foreing exchange (1,215 ) (254 ) (14,336 ) (5,459 ) (21,264 ) Amortization (48,823 ) - - (9,587 ) (58,410 ) Closing balance as of December 31, 2017 160,970 123,415 964,513 368,349 1,617,247 (1) In 2016, after the extensive work of integration after the association between LAN and TAM, during which there has been solid progress in the homologation of the optimization processes of its air connections, in addition to the restructuring and modernization of the fleet of aircraft, the Company has resolved adopt a unique name and identity, and announce that the brand of the group will be LATAM ", which would unite all companies under a single image. Given the above, we have proceeded to review the brands useful life, concluding that these should go from an indefinite to defined useful life. The estimated new useful life is 5 years, equivalent to the period for finishing all the image changes necessary. (2) See Note 2.5 The amortization of the period is shown in the consolidated statement of income in administrative expenses. The accumulated amortization of computer programs and brands as of December 31, 2017, amounts to ThUS$ 373,463 (ThUS$ 270,041 at December 31, 2016). |
GOODWILL (Tables)
GOODWILL (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule of movement of goodwill | Coalition Movement of Goodwill, separated by CGU: and loyalty Air program Transport Multiplus Total ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 2,658,503 654,898 3,313,401 Increase (decrease) due to exchange rate differences (823,415 ) (209,411 ) (1,032,826 ) Closing balance as of December 31, 2015 1,835,088 445,487 2,280,575 Opening balance as of January 1, 2016 1,835,088 445,487 2,280,575 Increase (decrease) due to exchange rate differences 341,813 88,261 430,074 Others (267 ) - (267 ) Closing balance as of December 31, 2016 2,176,634 533,748 2,710,382 Opening balance as of January 1, 2017 2,176,634 533,748 2,710,382 Increase (decrease) due to exchange rate differences (29,942 ) (7,890 ) (37,832 ) Others - - - Closing balance as of December 31, 2017 2,146,692 525,858 2,672,550 |
Schedule of recoverable values categories by CGU | As of December 31, 2017 the recoverable values were determined using the following assumptions presented below: Air transportation Coalition and loyalty CGU program Multiplus CGU (2) Annual growth rate (Terminal) % 1.0 - 2.0 4.0 - 5.0 Exchange rate (1) R$/US$ 3.3 - 3.9 3.3 - 3.9 Discount rate based on the weighted average cost of capital (WACC) % 7.55 - 8.55 - Discount rate based on cost of equity (Ke) % - 12.4 - 13.4 Fuel Price from futures price curves commodities markets US$/barrel 73-78 - (1) In line with the expectations of the Central Bank of Brazil (2) The flow, as well as annual growth rte and discount, are denominated in real. |
Schedule of sensitivity analysis of goodwill by CGU | The sensitivity analysis included the individual impact of changes in estimates critical in determining the recoverable amounts, namely: Decrease Increase Increase Minimum Maximum Maximum terminal WACC CoE growth rate % % % Air transportation CGU 8.55 - 1.0 Coalition and loyalty program Multiplus CGU - 13.4 4.0 |
PROPERTY, PLANT AND EQUIPMENT (
PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, plant and equipment [abstract] | |
Schedule of composition of property, plant and equipment | The composition by category of Property, plant and equipment is as follows: Gross Book Value Acumulated depreciation Net Book Value As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Construction in progress (*) 556,822 470,065 - - 556,822 470,065 Land 49,780 50,148 - - 49,780 50,148 Buildings 190,552 190,771 (66,004 ) (60,552 ) 124,548 130,219 Plant and equipment 9,222,540 10,099,587 (2,390,142 ) (2,350,045 ) 6,832,398 7,749,542 Own aircraft 8,544,185 9,436,684 (2,138,612 ) (2,123,025 ) 6,405,573 7,313,659 Other (**) 678,355 662,903 (251,530 ) (227,020 ) 426,825 435,883 Machinery 39,084 39,246 (29,296 ) (26,821 ) 9,788 12,425 Information technology equipment 166,713 163,695 (136,557 ) (123,981 ) 30,156 39,714 Fixed installations and accessories 186,989 178,363 (106,212 ) (94,451 ) 80,777 83,912 Motor vehicles 70,290 96,808 (58,812 ) (67,855 ) 11,478 28,953 Leasehold improvements 186,679 192,100 (102,454 ) (87,559 ) 84,225 104,541 Other property, plants and equipment 3,640,838 3,005,981 (1,355,475 ) (1,177,351 ) 2,285,363 1,828,630 Financial leasing aircraft 3,551,041 2,905,556 (1,328,421 ) (1,152,190 ) 2,222,620 1,753,366 Other 89,797 100,425 (27,054 ) (25,161 ) 62,743 75,264 Total 14,310,287 14,486,764 (4,244,952 ) (3,988,615 ) 10,065,335 10,498,149 (*) As of December 31, 2017, includes pre-delivery payments to aircraft manufacturers for ThUS$ 543,720 (ThUS$ 434,250 as of December 31, 2016) (**) Mainly considers rotable and tools. |
Schedule of movement of property, plant and equipment | Movement in the different categories of Property, plant and equipment: Other Information Fixed property, Property, Plant and technology installations Motor Leasehold plant and Plant and Construction Buildings equipment equipment & accessories vehicles improvements equipment equipment in progress Land net net net net net net net net ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 937,279 57,988 167,006 6,954,089 51,009 43,783 1,965 56,523 2,503,434 10,773,076 Additions 39,711 - 439 1,304,199 15,322 1,692 280 13,188 64,226 1,439,057 Disposals - - (500 ) (76,675 ) (1) (27 ) - (8 ) - (11 ) (77,221 ) Retirements (1,262 ) - (956 ) (38,240 ) (104 ) (476 ) (4 ) - (8,902 ) (49,944 ) Depreciation expenses - - (7,161 ) (521,688 ) (16,196 ) (11,649 ) (378 ) (13,973 ) (174,474 ) (745,519 ) Foreing exchange (932 ) (11,786 ) (18,248 ) (129,933 ) (6,126 ) (13,269 ) (638 ) (1,659 ) (252,709 ) (435,300 ) Other increases (decreases) 168,016 (889 ) (49,089 ) (150,677 ) 11 68,877 308 9 (2,058 ) 34,508 Changes, total 205,533 (12,675 ) (75,515 ) 386,986 (7,120 ) 45,175 (440 ) (2,435 ) (373,928 ) 165,581 Closing balance as of December 31, 2015 1,142,812 45,313 91,491 7,341,075 43,889 88,958 1,525 54,088 2,129,506 10,938,657 Opening balance as of January 1, 2016 1,142,812 45,313 91,491 7,341,075 43,889 88,958 1,525 54,088 2,129,506 10,938,657 Additions 14,481 - 272 1,301,093 7,392 292 6 54,181 13,013 1,390,730 Disposals - - - (16,918 ) (2) (59 ) - (32 ) - (2,972 ) (19,981 ) Retirements (284 ) - (68 ) (39,816 ) (55 ) (1,258 ) - - (2,604 ) (44,085 ) Depreciation expenses - - (6,234 ) (562,131 ) (14,909 ) (13,664 ) (293 ) (23,283 ) (124,038 ) (744,552 ) Foreing exchange 5,081 4,835 2,538 51,770 2,924 9,384 223 2,849 93,383 172,987 Other increases (decreases) (692,025 ) - 42,220 (285,198 ) (3) 532 200 (384 ) 16,706 (277,658 ) (1,195,607 ) Changes, total (672,747 ) 4,835 38,728 448,800 (4,175 ) (5,046 ) (480 ) 50,453 (300,876 ) (440,508 ) Closing balance as of December 31, 2016 470,065 50,148 130,219 7,789,875 39,714 83,912 1,045 104,541 1,828,630 10,498,149 Opening balance as of January 1, 2017 470,065 50,148 130,219 7,789,875 39,714 83,912 1,045 104,541 1,828,630 10,498,149 Additions 11,145 - - 258,615 5,708 329 77 8,156 41,483 325,513 Disposals - - - (16,004 ) (6 ) (10 ) (43 ) - (27 ) (16,090 ) Retirements (127 ) - (6 ) (24,341 ) (473 ) (497 ) - - (1,610 ) (27,054 ) Depreciation expenses - - (7,946 ) (496,857 ) (14,587 ) (14,124 ) (187 ) (27,266 ) (204,237 ) (765,204 ) Foreing exchange 107 (368 ) (275 ) (4,603 ) (183 ) (820 ) (8 ) (243 ) (5,113 ) (11,506 ) Other increases (decreases) 75,632 - 2,556 (653,457 ) (17 ) 11,987 (448 ) (963 ) 626,237 61,527 Changes, total 86,757 (368 ) (5,671 ) (936,647 ) (9,558 ) (3,135 ) (609 ) (20,316 ) 456,733 (432,814 ) Closing balance as of December 31, 2017 556,822 49,780 124,548 6,853,228 30,156 80,777 436 84,225 2,285,363 10,065,335 (1) During the first half of 2015 three Airbus A340 aircraft were sold. During the second half of 2015 seven Dash-200 aircraft were sold. During the second half of 2015 two Airbus A319 aircraft were sold. (2) During 2016 the sale of two Airbus A330 aircraft was materialized. (3) During 2016 the reclassification to non-current assets or groups of assets for disposal classified as held for sale (see Note 13) of two Airbus A319 aircraft, two Airbus A320 aircraft, six Airbus A330 aircraft and two Boeing 777 aircraft was materialized. |
Schedule of composition of the fleet | Composition of the fleet: Aircraft included in Property, Operating Total plant and equipment leases fleet As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, Aircraft Model 2017 2016 2017 2016 2017 2016 Boeing 767 300ER 34 34 2 3 36 37 Boeing 767 300F 8 (1) 8 (1) 2 3 10 (1) 11 (1) Boeing 777 300ER 4 4 6 6 10 10 Boeing 777 Freighter - - - 2 - 2 Boeing 787 800 6 6 4 4 10 10 Boeing 787 900 4 4 10 8 14 12 Airbus A319 100 37 36 9 12 46 48 Airbus A320 200 93 (2) 93 38 53 131 (2) 146 Airbus A320 NEO 1 1 3 1 4 2 Airbus A321 200 30 30 17 17 47 47 Airbus A350 900 5 (3) 5 2 (3) 2 7 (3) 7 Total 222 221 93 111 315 332 (1) Two aircraft leased to FEDEX as of December 2017; three aircraft as of December 2016. (2) Three aircraft leased to Salam Air and one to Sundair (3) Four aircraft leased to Qatar Air. Two in operating leases and two in Properties, plant and equipment. |
Schedule of method used for the depreciation of property, plant and equipment | Method used for the depreciation of Property, plant and equipment: Useful life (years) Method minimum maximum Buildings Straight line without residual value 20 50 Plant and equipment Straight line with residual value of 20% in the short-haul fleet and 36% in the long-haul fleet. (*) 5 23 Information technology equipment Straight line without residual value 5 10 Fixed installations and accessories Straight line without residual value 10 10 Motor vehicle Straight line without residual value 10 10 Leasehold improvements Straight line without residual value 5 5 Other property, plant and equipment Straight line with residual value of 20% in the short-haul fleet and 36% in the long-haul fleet. (*) 10 23 (*) Except for the Boeing 767 300ER and Boeing 767 300F fleets which consider a lower residual value due to the extension of their useful life to 22 and 23 years respectively. Additionally certain technical components, which are depreciated based on the basis of cycles and flight hours. The aircraft with remarketing clause (**) under modality of financial leasing, which are depreciated according to the duration of their contracts, between 12 and 18 years. Its residual values are estimated according to market value at the end of such contracts. (**) Aircraft with remarketing clause are those that are required to sell at the end of the contract. |
Schedule of property, plant and equipment pledged as guarantee | Description of Property, plant and equipment pledged as guarantee: As of As of December 31, December 31, 2017 2016 Guarantee Assets Existing Book Existing Book agent (*) committed Fleet Debt Value Debt Value ThUS$ ThUS$ ThUS$ ThUS$ Wilmington Aircraft and engines Airbus A321 / A350 637,934 721,602 596,224 722,979 Trust Company Boeing 767 593,655 888,948 811,723 1,164,364 Boeing 787 720,267 842,127 739,031 899,445 - - Banco Santander S.A. Aircraft and engines Airbus A319 - - 50,671 91,889 Airbus A320 199,165 291,649 462,950 709,788 Airbus A321 29,296 40,584 32,853 44,227 - - BNP Paribas Aircraft and engines Airbus A319 84,767 136,407 134,346 228,384 Airbus A320 110,267 175,650 128,173 181,838 - Credit Agricole Aircraft and engines Airbus A319 20,874 38,826 26,014 37,389 Airbus A320 46,895 98,098 71,794 144,157 Airbus A321 30,322 85,463 40,609 93,110 - - - Wells Fargo Aircraft and engines Airbus A320 224,786 306,660 252,428 333,419 - Bank of Utah Aircraft and engines Airbus A320 / A350 614,632 666,665 670,826 709,280 - - Natixis Aircraft and engines Airbus A320 34,592 72,388 45,748 66,738 Airbus A321 378,418 481,397 377,104 514,625 - - Citibank N. A. Aircraft and engines Airbus A320 94,882 141,817 111,243 166,370 Airbus A321 36,026 72,741 42,867 70,166 - - KfW IPEX-Bank Aircraft and engines Airbus A319 5,592 5,505 7,494 6,360 Airbus A320 21,296 30,513 28,696 36,066 Airbus Financial Services Aircraft and engines Airbus A319 22,927 26,973 30,199 33,823 PK AirFinance US, Inc. Aircraft and engines Airbus A320 46,500 56,539 54,786 46,341 JP Morgan Aircraft and engines Boeing 777 (1) 169,674 216,000 192,671 236,400 Banco BBVA Land and buildings (2) 55,801 66,876 50,381 69,498 Total direct guarantee 4,178,568 5,463,428 4,958,831 6,606,656 (*) Due to the characteristics of a syndicated loan, the guarantee agent is the representative of the creditors. (1) These assets are classified under Non-current assets and disposal group classified as held for sale (2) Corresponds to a debt classified in item loans to exporters (see Note 19). |
Schedule of fully depreciated assets and commitments for future purchases | Fully depreciated assets and commitments for future purchases are as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Gross book value of fully depreciated property, plant and equipment still in use 136,811 116,386 Commitments for the acquisition of aircraft (*) 15,400,000 15,100,000 (*) Acording to the manufacturer’s price list. |
Schedule of purchase commitment | Purchase commitment of aircraft Year of delivery Manufacturer 2018 2019 2020 2021 2022 Total Airbus S.A.S. 13 11 16 21 11 72 A320-NEO 7 3 9 8 5 32 A321 - 1 - - - 1 A321-NEO 2 3 5 5 4 19 A350-1000 - - 2 8 2 12 A350-900 4 4 - - - 8 The Boeing Company - 6 2 2 - 10 Boeing 777 - 2 - - - 2 Boeing 787-9 - 4 2 2 - 8 Total 13 17 18 23 11 82 |
Schedule of capitalized interest costs | Capitalized interest costs with respect to Property, plant and equipment. For the periods ended December 31, 2017 2016 2015 Average rate of capitalization of capitalized interest costs % 4.21 3.54 2.79 Costs of capitalized interest ThUS$ 11,053 (696 ) 22,551 |
Schedule of financial leases | As of As of December 31, December 31, Lessor Aircraft Model 2017 2016 Bandurria Leasing Limitd Airbus A319 100 3 - Bandurria Leasing Limitd Airbus A320 200 4 - Becacina Leasing LLC Boeing 767 300ER 1 1 Caiquen Leasing LLC Boeing 767 300F 1 1 Cernicalo Leasing LLC Boeing 767 300F - 2 Cisne Leasing LLC Boeing 767 300ER 2 2 Codorniz Leasing Limited Airbus A319 100 - 2 Conure Leasing Limited Airbus A320 200 2 2 Flamenco Leasing LLC Boeing 767 300ER 1 1 FLYAFI 1 S.R.L. Boeing 777 300ER 1 1 FLYAFI 2 S.R.L. Boeing 777 300ER 1 1 FLYAFI 3 S.R.L. Boeing 777 300ER 1 1 Garza Leasing LLC Boeing 767 300ER 1 1 General Electric Capital Corporation Airbus A330 200 - 3 Intraelo BETA Corpotation (KFW) Airbus A320 200 - 1 Jilguero Leasing LLC Boing B767 300ER 3 - Loica Leasing Limited Airbus A319 100 2 2 Loica Leasing Limited Airbus A320 200 2 2 Mirlo Leasing LLC Boeing 767 300ER 1 1 NBB Rio de Janeiro Lease CO and Brasilia Lease LLC (BBAM) Airbus A320 200 1 1 NBB São Paulo Lease CO. Limited (BBAM) Airbus A321 200 1 1 Osprey Leasing Limited Airbus A319 100 8 8 Patagon Leasing Limited Airbus A319 100 3 - Petrel Leasing LLC Boeing 767 300ER 1 1 Pilpilen Leasing Limited Airbus A320 200 - 4 Pochard Leasing LLC Boeing 767 300ER 2 2 Quetro Leasing LLC Boeing 767 300ER 3 3 SG Infraestructure Italia S.R.L. Boeing 777 300ER 1 1 SL Alcyone LTD (Showa) Airbus A320 200 1 1 Torcaza Leasing Limited Airbus A320 200 8 - Tricahue Leasing LLC Boeing 767 300ER 3 3 Wacapou Leasing S.A Airbus A320 200 1 1 Wells Fargo Bank North National Association Airbus A319 100 1 - Total 60 50 |
Schedule of minimum payments under financial leases | The minimum payments under financial leases are as follows: As of December 31, 2017 As of December 31, 2016 As of December 31, 2015 Gross Present Gross Present Gross Present Value Interest Value Value Interest Value Value Interest Value ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ No later than one year 303,863 (32,447 ) 271,416 285,168 (32,365 ) 252,803 360,862 (47,492 ) 313,370 Between one and five years 835,696 (30,050 ) 805,646 704,822 (43,146 ) 661,676 1,003,237 (75,363 ) 927,874 Over five years 36,788 (816 ) 35,972 43,713 (120 ) 43,593 95,050 (1,406 ) 93,644 Total 1,176,347 (63,313 ) 1,113,034 1,033,703 (75,631 ) 958,072 1,459,149 (124,261 ) 1,334,888 |
CURRENT AND DEFERRED TAXES (Tab
CURRENT AND DEFERRED TAXES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Major components of tax expense (income) [abstract] | |
Schedule of Composition of current tax assets | The composition of the current tax assets is the following: Current assets Non-current assets Total assets As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Provisional monthly payments (advances) 65,257 43,821 - - 65,257 43,821 Other recoverable credits 12,730 21,556 17,532 20,272 30,262 41,828 Total assets by current tax 77,987 65,377 17,532 20,272 95,519 85,649 |
Schedule of composition of current tax liabilities | The composition of the current tax liabilities are as follows: Current liabilities Non-current liabilities Total liabilities As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Income tax provision 3,511 9,632 - - 3,511 9,632 Additional tax provision - 4,654 - - - 4,654 Total liabilities by current tax 3,511 14,286 - - 3,511 14,286 |
Schedule of balances of deferred tax are | The balances of deferred tax are the following: Assets Liabilities As of As of As of As of December 31, December 31, December 31, December 31, Concept 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Depreciation 210,855 11,735 1,401,277 1,387,760 Leased assets (103,201 ) (35,922 ) 275,142 203,836 Amortization (484 ) (15,820 ) 54,335 61,660 Provisions (9,771 ) 222,253 690 (59,096 ) Revaluation of financial instruments (734 ) - (4,484 ) (3,223 ) Tax losses 290,973 202,536 (1,188,586 ) (1,126,200 ) Intangibles - - 406,536 430,705 Others (23,617 ) (202 ) 4,787 20,317 Total 364,021 384,580 949,697 915,759 |
Schedule of movements of deferred tax assets and liabilities | Movements of Deferred tax assets and liabilities (a) From January 1 to December 31, 2015 Opening Recognized in Recognized in Exchange Ending balance consolidated comprehensive rate balance Assets/(liabilities) income income variation Others Asset (liability) ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Depreciation (871,640 ) (267,891 ) - 8,540 - (1,130,991 ) Leased assets (185,775 ) (73,330 ) - 7,803 - (251,302 ) Amortization (160,100 ) 84,330 - 4,606 - (71,164 ) Provisions 351,077 150,362 3,911 (126,813 ) - 378,537 Revaluation of financial instruments 12,806 19,760 (21,103 ) (3,179 ) - 8,284 Tax losses (*) 722,749 320,397 - (33,364 ) - 1,009,782 Intangibles (523,275 ) (8,362 ) - 167,323 - (364,314 ) Others 9,587 45,638 - (62,182 ) (6,845 ) (13,802 ) Total (644,571 ) 270,904 (17,192 ) (37,266 ) (6,845 ) (434,970 ) (b) From January 1 to December 31, 2016 Opening Recognized in Recognized in Exchange Ending balance consolidated comprehensive rate balance Assets/(liabilities) income income variation Others Asset (liability) ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Depreciation (1,130,991 ) (241,435 ) - (3,599 ) - (1,376,025 ) Leased assets (251,302 ) 14,833 - (3,289 ) - (239,758 ) Amortization (71,164 ) (4,375 ) - (1,941 ) - (77,480 ) Provisions 378,537 (149,969 ) 921 53,448 (1,568 ) 281,369 Revaluation of financial instruments 8,284 28,294 (34,695 ) 1,340 - 3,223 Tax losses (*) 1,009,782 304,892 - 14,062 - 1,328,736 Intangibles (364,314 ) 4,131 - (70,522 ) - (430,705 ) Others (13,802 ) (30,185 ) - 22,234 1,214 (20,539 ) Total (434,970 ) (73,814 ) (33,774 ) 11,733 (354 ) (531,179 ) (c) From January 1 to December 31, 2017 Opening Recognized in Recognized in Exchange Ending balance consolidated comprehensive rate balance Assets/(liabilities) income income variation Asset (liability) ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Depreciation (1,376,025 ) 185,282 - 322 (1,190,421 ) Leased assets (239,758 ) (138,879 ) - 294 (378,343 ) Amortization (77,480 ) 22,486 - 174 (54,820 ) Provisions 281,369 (286,267 ) (785 ) (4,778 ) (10,461 ) Revaluation of financial instruments 3,223 2,417 (1,770 ) (120 ) 3,750 Tax losses (*) 1,328,736 152,081 - (1,257 ) 1,479,560 Intangibles (430,705 ) 24,436 - (267 ) (406,536 ) Others (20,539 ) (7,547 ) - (319 ) (28,405 ) Total (531,179 ) (45,991 ) (2,555 ) (5,951 ) (585,676 ) |
Schedule of deferred tax assets not recognized | Deferred tax assets not recognized: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Tax losses 81,155 115,801 Total Deferred tax assets not recognized 81,155 115,801 |
Schedule of deferred tax expense and current income taxes | Deferred tax expense and current income taxes: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Current tax expense Current tax expense 127,024 87,307 92,916 Adjustment to previous period’s current tax 489 2,083 (395 ) Total current tax expense, net 127,513 89,390 92,521 Deferred tax expense Deferred expense for taxes related to the creation and reversal of temporary differences 45,991 73,814 (270,904 ) Reduction (increase) in value of deferred tax assets during the evaluation of its usefulness - - - Total deferred tax expense, net 45,991 73,814 (270,904 ) Income tax expense 173,504 163,204 (178,383 ) |
Schedule of composition of income tax expense (income) | Composition of income tax expense (income): For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Current tax expense, net, foreign 100,657 80,600 89,460 Current tax expense, net, Chile 26,856 8,790 3,061 Total current tax expense, net 127,513 89,390 92,521 Deferred tax expense, net, foreign 21,846 119,175 (280,445 ) Deferred tax expense, net, Chile 24,145 (45,361 ) 9,541 Deferred tax expense, net, total 45,991 73,814 (270,904 ) Income tax expense 173,504 163,204 (178,383 ) |
Schedule of profit before tax by the legal tax rate | Profit before tax by the legal tax rate in Chile (25.5% and 24.0% at December 31, 2017 and 2016, respectively) For the period ended For the period ended December 31, December 31, 2017 2016 2015 2017 2016 2015 ThUS$ ThUS$ ThUS$ % % % Tax expense using the legal rate (*) 95,425 65,449 (89,472 ) 25.50 24.00 22.50 Tax effect by change in tax rate (*) 897 - - 0.24 - - Tax effect of rates in other jurisdictions 42,326 16,333 (21,803 ) 11.31 5.99 5.48 Tax effect of non-taxable operating revenues (44,593 ) (62,419 ) (106,381 ) (11.92 ) (22.89 ) 26.75 Tax effect of disallowable expenses 35,481 132,469 38,677 9.48 48.58 (9.73 ) Tax effect of the use of tax losses not previously recognized 211 - - 0.06 - - Other increases (decreases) in legal tax charge 43,757 11,372 596 11.69 4.17 (0.15 ) Total adjustments to tax expense using the legal rate 78,079 97,755 (88,911 ) 20.86 35.85 22.35 Tax expense using the effective rate 173,504 163,204 (178,383 ) 46.36 59.85 44.85 (*) On September 29, 2014, Law No. 20,780 "Amendment to the system of income taxation and introduces various adjustments in the tax system." was published in the Official Journal of the Republic of Chile. Within major tax reforms that this law contains, the First- Category Tax rate is gradually modified from 2014 to 2018 and should be declared and paid in tax year 2015. |
Schedule of deferred taxes related to items charged to net equity | Deferred taxes related to items charged to net equity: For the period ended December 31, 2017 2016 ThUS$ ThUS$ Aggregate deferred taxation of components of other comprehensive income (2,555 ) (33,774 ) Aggregate deferred taxation related to items charged to net equity - (807 ) |
OTHER FINANCIAL LIABILITIES (Ta
OTHER FINANCIAL LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous liabilities [abstract] | |
Schedule of composition of other financial liabilities | The composition of other financial liabilities is as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Current (a) Interest bearing loans 1,288,749 1,814,647 (b) Hedge derivatives 12,200 24,881 Total current 1,300,949 1,839,528 Non-current (a) Interest bearing loans 6,602,891 6,790,273 (b) Hedge derivatives 2,617 6,679 Total non-current 6,605,508 6,796,952 |
Schedule of composition of interest bearing loans | Obligations with credit institutions and debt instruments: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Current Loans to exporters 314,618 278,164 Bank loans (1) 59,017 290,810 Guaranteed obligations 531,173 578,014 Other guaranteed obligations 2,170 1,908 Subtotal bank loans 906,978 1,148,896 Obligation with the public (2) 14,785 312,043 Financial leases 276,541 268,040 Other loans 90,445 85,668 Total current 1,288,749 1,814,647 As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Non-current Bank loans 260,433 294,477 Guaranteed obligations (3) 3,505,669 4,180,538 Other guaranteed obligations 240,007 254,512 Subtotal bank loans 4,006,109 4,729,527 Obligation with the public (4) (5) (6) 1,569,281 997,302 Financial leases 832,964 754,321 Other loans 194,537 309,123 Total non-current 6,602,891 6,790,273 Total obligations with financial institutions 7,891,640 8,604,920 (1) On September 29, 2016 TAM Linhas Aéreas S.A. obtained financing for US$ 200 million, guaranteed with 18% of the shares of Multiplus S.A., percentage adjustable depending on the shares price. Additionally, TAM obtained a hedging economic (Cross Currency Swap) for the same amount and period, in order to convert the commitment currency from US$ to BRL. On March 30, 2017, TAM Linhas Aéreas S.A. restructured the financing mentioned in the previous paragraph, modifying the nominal amount of the transaction to US $ 137 million. On September 27, 2017, TAM Linhas Aéreas S.A. made the payment of capital plus interest corresponding to the last installment of the financing described above. Simultaneously, all the garments were lifted on the shares of Multiplus S.A. delivered as collateral. (2) On April 25, 2017, the payment of the principal plus interest on the long-term bonds issued by the company TAM Capital Inc. for an amount of US$ 300,000,000 at an interest rate of 7.375% annual. The payment consisted of 100% of the capital, US$ 300,000,000, and interest accrued as of the date of payment for ThUS $ 11,063. (3) On April 10, 2017, the issuance and private placement of debt securities in the amount of US$ 140,000,000 was made under the current structure of the Enhanced Equipment Trust Certificates ("EETC") issued and placed the year 2015 to finance the acquisition of eleven Airbus A321-200, two Airbus A350-900 and four Boeing 787-9 with arrivals between July 2015 and April 2016. The offer is made up of Class C Certificates, which are subordinate to the Current Class A Certificates and Class B Certificates held by the Company. The term of the Class C Certificates is six years and expires in 2023. (4) On April 11, 2017, LATAM Finance Limited, a company incorporated in the Cayman Islands with limited liability and exclusively owned by LATAM Airlines Group SA, has issued and placed on the international market, pursuant to Rule 144 -A and Regulation S of the securities laws of the United States of America, long-term unsecured bonds in the amount of US$ 700,000,000, maturing in 2024 at an annual interest rate of 6.875%. As reported in the essential fact of April 6, 2017, the Issue and placement of the 144-A Bonds was intended to finance general corporate purposes of LATAM. (5) On August 17, 2017, LATAM made the placement in the local market (Santiago Stock Exchange) of the Series A Bonds (BLATM-A), Series B (BLATM-B), Series C (BLATM-) C) and Series D (BLATM-D), which correspond to the first issue of bonds charged to the line inscribed in the Securities Registry of the Commission for the Financial Market (“CMF”), under number 862 for a total of UF 9,000,000. The total amount placed of the Series A Bond was UF 2,500,000; The total amount placed of the Series B Bond was UF 2,500,000. The total amount placed of the Series C Bond was UF 1,850,000. The total amount placed of the Series D Bond was UF 1,850,000, thus totaling UF 8,700,000. The Series A Bonds have an expiration date on June 1, 2022 and an annual interest rate of 5.25%. The Series B Bonds have an expiration date on January 1, 2028 and an annual interest rate of 5.75%. The Series C Bonds have an expiration date on June 1, 2022 and an annual interest rate of 5.25%. The Series D Bonds have an expiration date on January 1, 2028 and an annual interest rate of 5.75%. The proceeds of the placement of the Series A, Series B, Series C and Series D Bonds were allocated in full to the partial financing of the early redemption of the total bonds of TAM Capital 3 inc. (6) On September 1, 2017, TAM Capital 3 Inc., a company controlled indirectly by TAM S.A. through its subsidiary TAM Linhas Aéreas SA, which consolidates its financial statements with LATAM, made the full advance redemption of the bonds it placed abroad on June 3, 2011, for an amount of US $ 500 million at a 8.375% rate and with an expiration date on June 3, 2021. The total redemption was partially financed with the placement of bonds in the local market described in number (5) above, and the balance, with other funds available from the Company. |
Schedule of currency balances of interest bearing loans | Currency balances that make the interest bearing loans: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Currency Brazilian real 130 1,253 Chilean peso (U.F.) 521,122 203,194 US Dollar 7,370,388 8,400,473 Total 7,891,640 8,604,920 |
Schedule of interest-bearing loans catrgories by installments | Interest-bearing loans due in installments to December 31, 2017 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2, Chile. Nominal values Accounting values More than More than More than More than More than More than Up to 90 days one to three to More than Total Up to 90 days one to three to More than Total Creditor 90 to one three five five nominal 90 to one three five five accounting Effective Nominal Tax No. Creditor country Currency days year years years years value days year years years years value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Loans to exporters 97.032.000-8 BBVA Chile ThUS$ 75,000 - - - - 75,000 75,781 - - - - 75,781 At Expiration 2.30 2.30 97.032.000-8 BBVA Chile UF - 55,801 - - - 55,801 - 55,934 - - - 55,934 At Expiration 3.57 2.77 97.036.000-K SANTANDER Chile ThUS$ 30,000 - - - - 30,000 30,129 - - - - 30,129 At Expiration 2.49 2.49 97.030.000-7 ESTADO Chile ThUS$ 40,000 - - - - 40,000 40,071 - - - - 40,071 At Expiration 2.57 2.57 97.003.000-K BANCO DO BRASIL Chile ThUS$ 100,000 - - - - 100,000 100,696 - - - - 100,696 At Expiration 2.40 2.40 97.951.000-4 HSBC Chile ThUS$ 12,000 - - - - 12,000 12,007 - - - - 12,007 At Expiration 2.03 2.03 Bank loans 97.023.000-9 CORPBANCA Chile UF 21,298 21,360 42,006 - - 84,664 21,542 21,360 41,548 - - 84,450 Quarterly 3.68 3.68 0-E BLADEX U.S.A. ThUS$ - 15,000 15,000 - - 30,000 - 15,133 14,750 - - 29,883 Semiannual 5.51 5.51 97.036.000-K SANTANDER Chile ThUS$ - - 202,284 - - 202,284 439 - 202,284 - - 202,723 Quarterly 4.41 4.41 Obligations with the public 0-E BANK OF NEW YORK U.S.A. ThUS$ - - 500,000 - 700,000 1,200,000 - 13,047 492,745 - 697,536 1,203,328 At Expiration 7.44 7.03 97.030.000-7 ESTADO Chile UF - - - 189,637 189,637 379,274 - 1,738 189,500 189,500 380,738 At Expiration 5.50 5.50 Guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ 7,767 23,840 54,074 12,410 - 98,091 8,101 23,840 52,924 12,026 - 96,891 Quarterly 2.66 2.22 0-E BNP PARIBAS U.S.A. ThUS$ 10,929 44,145 114,800 119,948 285,399 575,221 13,328 44,781 111,319 117,987 282,714 570,129 Quarterly 3.41 3.40 0-E WELLS FARGO U.S.A. ThUS$ 27,223 82,402 225,221 233,425 240,716 808,987 30,143 82,402 203,371 224,295 236,179 776,390 Quarterly 2.46 1.75 0-E WILMINGTON TRUST U.S.A. ThUS$ 20,427 61,669 175,334 183,332 594,091 1,034,853 26,614 61,669 169,506 180,520 590,723 1,029,032 Quarterly 4.48 4.48 0-E CITIBANK U.S.A. ThUS$ 11,994 36,501 101,230 104,308 97,184 351,217 13,231 36,501 95,208 101,558 94,807 341,305 Quarterly 3.31 2.47 0-E BTMU U.S.A. ThUS$ 2,856 8,689 24,007 25,278 13,904 74,734 3,082 8,689 22,955 24,941 13,849 73,516 Quarterly 2.87 2.27 0-E APPLE BANK U.S.A. ThUS$ 1,401 4,278 11,828 12,474 7,242 37,223 1,583 4,278 11,303 12,303 7,212 36,679 Quarterly 2.78 2.18 0-E US BANK U.S.A. ThUS$ 15,157 45,992 126,550 132,441 152,693 472,833 17,364 45,992 109,705 125,006 148,318 446,385 Quarterly 4.00 2.82 0-E DEUTSCHE BANK U.S.A. ThUS$ 2,965 9,127 25,826 28,202 30,786 96,906 3,534 9,127 25,130 27,739 30,323 95,853 Quarterly 4.39 4.39 0-E NATIXIS France ThUS$ 14,645 44,627 107,068 91,823 154,848 413,011 15,642 44,627 105,056 90,823 153,124 409,272 Quarterly 3.42 3.40 0-E PK AIRFINANCE U.S.A. ThUS$ 2,163 6,722 19,744 17,871 - 46,500 2,225 6,722 19,744 17,871 - 46,562 Monthly 3.18 3.18 0-E KFW IPEX-BANK Germany ThUS$ 2,397 6,678 16,173 1,640 - 26,888 2,428 6,677 16,174 1,640 - 26,919 Quarterly 3.31 3.31 0-E AIRBUS FINANCIAL U.S.A. ThUS$ 1,855 5,654 15,416 - - 22,925 1,900 5,654 15,416 - - 22,970 Monthly 3.19 3.19 0-E INVESTEC England ThUS$ 1,374 7,990 20,440 22,977 10,597 63,378 1,808 8,181 19,801 22,769 10,565 63,124 Semiannual 6.04 6.04 - SWAP Aviones llegados - ThUS$ 301 749 765 - - 1,815 301 749 765 - - 1,815 Quarterly - Other guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ - - 241,287 - - 241,287 2,170 - 240,007 - - 242,177 At Expiration 3.38 3.38 Financial leases 0-E ING U.S.A. ThUS$ 5,347 10,779 26,831 - - 42,957 5,717 10,779 26,500 - - 42,996 Quarterly 5.67 5.00 0-E CITIBANK U.S.A. ThUS$ 11,206 34,267 86,085 49,853 2,863 184,274 12,013 34,267 84,104 49,516 2,859 182,759 Quarterly 3.78 3.17 0-E PEFCO U.S.A. ThUS$ 12,526 32,850 22,407 - - 67,783 12,956 32,850 22,088 - - 67,894 Quarterly 5.46 4.85 0-E BNP PARIBAS U.S.A. ThUS$ 13,146 33,840 48,823 2,296 - 98,105 13,548 33,840 48,253 2,293 - 97,934 Quarterly 3.66 3.25 0-E WELLS FARGO U.S.A. ThUS$ 10,630 33,866 91,162 64,471 20,984 221,113 11,460 33,866 88,674 63,860 20,903 218,763 Quarterly 3.17 2.67 97.036.000-K SANTANDER Chile ThUS$ 5,459 16,542 45,416 46,472 3,134 117,023 5,813 16,542 44,010 46,153 3,128 115,646 Quarterly 2.51 1.96 0-E RRPF ENGINE England ThUS$ 265 2,430 6,856 7,441 8,991 25,983 265 2,430 6,856 7,441 8,991 25,983 Monthly 4.01 4.01 Other loans 0-E CITIBANK (*) U.S.A. ThUS$ 21,822 67,859 196,210 - - 285,891 22,586 67,859 194,537 - - 284,982 Quarterly 6.00 6.00 Total 482,153 713,657 2,562,843 1,346,299 2,513,069 7,618,021 508,477 729,534 2,484,733 1,318,241 2,490,731 7,531,716 (*) Bonus securitized with the future flows of credit card sales in the United States and Canada. Interest-bearing loans due in installments to December 31, 2017 Debtor: TAM S.A. and Subsidiaries, Tax No. 02.012.862/0001-60, Brazil. Nominal values Accounting values More than More than More than More than More than More than Up to 90 days one to three to More than Total Up to 90 days one to three to More than Total Creditor 90 to one three five five nominal 90 to one three five five accounting Effective Nominal Tax No. Creditor country Currency days year years years years value days year years years years value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Bank loans 0-E NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ Holland ThUS$ 130 401 1,161 690 - 2,382 142 401 1,161 690 - 2,394 Monthly 6.01 6.01 Financial leases 0-E NATIXIS France ThUS$ 2,853 6,099 19,682 70,402 - 99,036 3,592 6,099 19,682 70,402 - 99,775 Quarterly/Semiannual 5.59 5.59 0-E WACAPOU LEASING S.A. Luxemburg ThUS$ 696 2,125 6,020 3,206 - 12,047 732 2,125 6,020 3,207 - 12,084 Quarterly 3.69 3.69 0-E SOCIÉTÉ GÉNÉRALE MILAN BRANCH Italy ThUS$ 8,964 27,525 208,024 - - 244,513 9,992 27,525 208,024 - - 245,541 Quarterly 4.87 4.81 0-E BANCO IBM S.A Brazil BRL 21 - - - - 21 21 - - - - 21 Monthly 6.89 6.89 0-E SOCIETE GENERALE France BRL 101 8 - - - 109 101 8 - - - 109 Monthly 6.89 6.89 Total 12,765 36,158 234,887 74,298 - 358,108 14,580 36,158 234,887 74,299 - 359,924 Total consolidated 494,918 749,815 2,797,730 1,420,597 2,513,069 7,976,129 523,057 765,692 2,719,620 1,392,540 2,490,731 7,891,640 Interest-bearing loans due in installments to December 31, 2016 Debtor: LATAM Airlines Group S.A. and Subsidiaries, Tax No. 89.862.200-2, Chile. Nominal values Accounting values More than More than More than More than More than More than Up to 90 days one to three to More than Total Up to 90 days one to three to More than Total Creditor 90 to one three five five nominal 90 to one three five five accounting Effective Nominal Tax No. Creditor country Currency days year years years years value days year years years years value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Loans to exporters 97.032.000-8 BBVA Chile ThUS$ 75,000 - - - - 75,000 75,234 - - - - 75,234 At Expiration 1.85 1.85 97.032.000-8 BBVA Chile UF - 50,381 - - - 50,381 - 50,324 - - - 50,324 At Expiration 5.23 4.43 97.036.000-K SANTANDER Chile ThUS$ 30,000 - - - - 30,000 30,183 - - - - 30,183 At Expiration 2.39 2.39 97.030.000-7 ESTADO Chile ThUS$ 40,000 - - - - 40,000 40,098 - - - - 40,098 At Expiration 1.91 1.91 97.003.000-K BANCO DO BRASIL Chile ThUS$ 70,000 - - - - 70,000 70,323 - - - - 70,323 At Expiration 3.08 3.08 97.951.000-4 HSBC Chile ThUS$ 12,000 - - - - 12,000 12,002 - - - - 12,002 At Expiration 1.79 1.79 Bank loans 97.023.000-9 CORPBANCA Chile UF 19,229 57,686 60,186 16,254 - 153,355 19,819 57,686 59,176 16,189 - 152,870 Quarterly 4.06 4.06 0-E BLADEX U.S.A. ThUS$ - 12,500 30,000 - - 42,500 - 12,667 29,625 - - 42,292 Semiannual 5.14 5.14 0-E DVB BANK SE U.S.A. ThUS$ - - 28,911 - - 28,911 3 - 28,911 - - 28,914 Quarterly 1.86 1.86 97.036.000-K SANTANDER Chile ThUS$ - - 158,194 - - 158,194 542 - 158,194 - - 158,736 Quarterly 3.55 3.55 Obligations with the public 0-E BANK OF NEW YORK U.S.A. ThUS$ - - - 500,000 - 500,000 2,291 - - 489,885 - 492,176 At Expiration 7.77 7.25 Guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ 11,073 29,252 62,209 32,172 3,711 138,417 11,454 29,252 60,781 31,221 3,631 136,339 Quarterly 2.21 1.81 0-E BNP PARIBAS U.S.A. ThUS$ 10,496 42,401 111,962 118,181 345,078 628,118 12,792 43,023 108,271 116,067 341,481 621,634 Quarterly 2.97 2.96 0-E WELLS FARGO U.S.A. ThUS$ 31,448 95,186 260,112 269,512 400,087 1,056,345 35,211 95,186 233,012 257,387 391,253 1,012,049 Quarterly 2.37 1.68 0-E WILMINGTON TRUST U.S.A. ThUS$ 15,554 49,236 135,254 140,848 626,444 967,336 20,997 49,236 130,792 138,455 622,153 961,633 Quarterly 4.25 4.25 0-E CITIBANK U.S.A. ThUS$ 17,495 53,162 146,932 154,774 175,805 548,168 19,059 53,162 138,257 150,891 172,087 533,456 Quarterly 2.72 1.96 97.036.000-K SANTANDER Chile ThUS$ 5,347 16,204 44,472 46,386 26,165 138,574 5,680 16,204 42,707 45,815 26,063 136,469 Quarterly 1.98 1.44 0-E BTMU U.S.A. ThUS$ 2,787 8,470 23,393 24,635 26,705 85,990 3,001 8,470 22,132 24,149 26,519 84,271 Quarterly 2.31 1.72 0-E APPLE BANK U.S.A. ThUS$ 1,364 4,167 11,516 12,146 13,561 42,754 1,538 4,166 10,889 11,902 13,464 41,959 Quarterly 2.29 1.69 0-E US BANK U.S.A. ThUS$ 14,817 44,958 123,705 129,462 219,666 532,608 17,298 44,958 104,709 120,509 211,895 499,369 Quarterly 3.99 2.81 0-E DEUTSCHE BANK U.S.A. ThUS$ 4,992 15,365 24,725 26,984 45,197 117,263 5,570 15,365 24,023 26,515 44,522 115,995 Quarterly 3.86 3.86 0-E NATIXIS France ThUS$ 12,289 37,388 98,873 82,066 192,235 422,851 13,038 37,388 97,469 81,130 190,048 419,073 Quarterly 2.60 2.57 0-E PK AIRFINANCE U.S.A. ThUS$ 2,018 6,268 18,413 24,944 3,144 54,787 2,071 6,269 18,412 24,944 3,144 54,840 Monthly 2.40 2.40 0-E KFW IPEX-BANK Germany ThUS$ 2,288 7,015 17,869 9,019 - 36,191 2,319 7,015 17,869 9,019 - 36,222 Quarterly 2.55 2.55 0-E AIRBUS FINANCIAL U.S.A. ThUS$ 1,797 5,476 15,262 7,664 - 30,199 1,841 5,477 15,261 7,664 - 30,243 Monthly 2.49 2.49 0-E INVESTEC England ThUS$ 1,298 7,526 19,290 21,667 22,421 72,202 1,771 7,733 18,533 21,368 22,309 71,714 Semiannual 5.67 5.67 - SWAP Aviones llegados - ThUS$ 403 1,067 1,658 158 - 3,286 403 1,067 1,658 158 - 3,286 Quarterly - - Other guaranteed obligations 0-E CREDIT AGRICOLE France ThUS$ - - 256,860 - - 256,860 1,908 - 254,512 - - 256,420 Quarterly 2.85 2.85 Financial leases 0-E ING U.S.A. ThUS$ 5,089 15,653 31,151 11,805 - 63,698 5,641 15,652 30,577 11,771 - 63,641 Quarterly 5.62 4.96 0-E CREDIT AGRICOLE France ThUS$ 1,754 5,403 - - - 7,157 1,780 5,403 - - - 7,183 Quarterly 1.85 1.85 0-E CITIBANK U.S.A. ThUS$ 4,956 15,312 44,177 13,804 - 78,249 5,622 15,312 43,413 13,762 - 78,109 Quarterly 6.40 5.67 0-E PEFCO U.S.A. ThUS$ 15,979 47,048 63,957 3,827 - 130,811 16,852 47,048 63,072 3,819 - 130,791 Quarterly 5.39 4.79 0-E BNP PARIBAS U.S.A. ThUS$ 12,520 38,494 75,958 22,147 - 149,119 13,122 38,494 74,776 22,079 - 148,471 Quarterly 3.69 3.26 0-E WELLS FARGO U.S.A. ThUS$ 4,678 14,261 39,862 42,663 1,862 103,326 5,018 14,260 38,834 42,430 1,861 102,403 Quarterly 3.98 3.54 0-E DVB BANK SE U.S.A. ThUS$ 4,680 9,447 - - - 14,127 4,713 9,448 - - - 14,161 Quarterly 2.57 2.57 0-E RRPF ENGINE England ThUS$ - - 6,402 6,955 11,917 25,274 - - 6,402 6,955 11,917 25,274 Monthly 2.35 2.35 Other loans 0-E BOEING U.S.A. ThUS$ - - 26,214 - - 26,214 185 - 26,214 - - 26,399 At Expiration 2.35 2.35 0-E CITIBANK (*) U.S.A. ThUS$ 20,555 63,942 184,866 101,026 - 370,389 21,541 63,942 182,043 100,866 - 368,392 Quarterly 6.00 6.00 Total 451,906 753,268 2,122,383 1,819,099 2,113,998 7,260,654 480,920 754,207 2,040,524 1,774,950 2,082,347 7,132,948 (*) Securitized bond with the future flows from the sales with credit card in United States and Canada. Interest-bearing loans due in installments to December 31, 2016 Debtor: TAM S.A. and Subsidiaries, Tax No. 02.012.862/0001-60, Brazil. Nominal values Accounting values More than More than More than More than More than More than Up to 90 days one to three to More than Total Up to 90 days one to three to More than Total Creditor 90 to one three five five nominal 90 to one three five five accounting Effective Nominal Tax No. Creditor country Currency days year years years years value days year years years years value Amortization rate rate ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ % % Bank loans 0-E NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ Holland ThUS$ 122 378 1,094 1,234 54 2,882 137 378 1,094 1,233 55 2,897 Monthly 6.01 6.01 0-E CITIBANK U.S.A ThUS$ - 200,000 - - - 200,000 (151 ) 199,729 - - - 199,578 At Expiration 3.39 3.14 Obligation with the public 0-E THE BANK OF NEW YORK U.S.A ThUS$ - 300,000 - 500,000 - 800,000 8,173 301,579 4,119 503,298 - 817,169 At Expiration 8.17 8.00 Financial leases 0-E AFS INVESTMENT IX LLC U.S.A ThUS$ 2,086 6,437 18,556 8,369 - 35,448 2,253 6,437 18,556 8,369 - 35,615 Monthly 1.25 1.25 0-E DVB BANK SE U.S.A ThUS$ 118 164 - - - 282 119 164 - - - 283 Monthly 2.50 2.50 0-E GENERAL ELECTRIC CAPITAL CORPORATION U.S.A ThUS$ 3,771 5,075 - - - 8,846 3,794 5,075 - - - 8,869 Monthly 2.30 2.30 0-E KFW IPEX-BANK Germany ThUS$ 579 1,544 - - - 2,123 583 1,544 - - - 2,127 Monthly/Quarterly 2.80 2.80 0-E NATIXIS France ThUS$ 2,675 5,732 18,485 38,820 41,731 107,443 3,533 5,732 18,485 38,820 41,731 108,301 Quarterly/Semiannual 4.90 4.90 0-E WACAPOU LEASING S.A. Luxemburg ThUS$ 668 2,038 5,768 6,280 - 14,754 709 2,038 5,768 6,280 - 14,795 Quarterly 3.00 3.00 0-E SOCIÉTÉ GÉNÉRALE MILAN BRANCH Italy ThUS$ 8,547 26,275 74,783 169,730 - 279,335 9,779 26,275 74,783 169,730 - 280,567 Quarterly 4.18 4.11 0-E BANCO IBM S.A Brazil BRL 260 749 22 - - 1,031 260 749 21 - - 1,030 Monthly 13.63 13.63 0-E HP FINANCIAL SERVICE Brazil BRL 222 - - - - 222 222 - - - - 222 Monthly 10.02 10.02 0-E SOCIETE GENERALE France BRL 102 307 110 - - 519 102 307 110 - - 519 Monthly 13.63 13.63 Total 19,150 548,699 118,818 724,433 41,785 1,452,885 29,513 550,007 122,936 727,730 41,786 1,471,972 Total consolidated 471,056 1,301,967 2,241,201 2,543,532 2,155,783 8,713,539 510,433 1,304,214 2,163,460 2,502,680 2,124,133 8,604,920 |
Schedule of hedge derivatives | Hedge derivatives Total hedge Current liabilities Non-current liabilities derivatives As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Accrued interest from the last date of interest rate swap 1,189 2,148 - - 1,189 2,148 Fair value of interest rate derivatives 8,919 9,578 2,617 6,679 11,536 16,257 Fair value of foreign currency derivatives 2,092 13,155 - - 2,092 13,155 Total hedge derivatives 12,200 24,881 2,617 6,679 14,817 31,560 |
Schedule of hedging operation | The fair values of net assets/ (liabilities), by type of derivative, of the contracts held as hedging instruments are presented below: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Cross currency swaps (CCS) (1) 38,875 (12,286 ) Interest rate swaps (2) (6,542 ) (16,926 ) Fuel options (3) 10,711 10,088 Currency forward - options US$/GBP$ (4) - 618 Currency forward - options US$/EUR$ (4) - 109 Currency options R$/US$ (4) 4,370 (1,752 ) Currency options CLP/US$ (4) 636 - (1) Covers the significant variations in cash flows associated with market risk implicit in the changes in the 3-month LIBOR interest rate and the exchange rate US$/UF of bank loans. These contracts are recorded as cash flow hedges and fair value. (2) Covers the significant variations in cash flows associated with market risk implicit in the increases in the 3 months LIBOR interest rates for long-term loans incurred in the acquisition of aircraft and bank loans. These contracts are recorded as cash flow hedges. (3) Covers significant variations in cash flows associated with market risk implicit in the changes in the price of future fuel purchases. These contracts are recorded as cash flow hedges. (4) Covers the foreign exchange risk exposure of operating cash flows caused mainly by fluctuations in the exchange rate R$/US$, US$/EUR and US$/GBP. These contracts are recorded as cash flow hedges. |
Schedule of comprehensive income | The amounts recognized in comprehensive income during the period and transferred from net equity to income are as follows: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Debit (credit) recognized in comprehensive income during the period 18,344 127,390 80,387 Debit (credit) transferred from net equity to income during the period (15,000 ) (113,403 ) (151,244 ) |
TRADE AND OTHER ACCOUNTS PAYA64
TRADE AND OTHER ACCOUNTS PAYABLES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Trade And Other Accounts Payables | |
Schedule of composition of trade and other accounts payables & accrued liabilities | The composition of Trade and other accounts payables is as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Current (a) Trade and other accounts payables 1,349,201 1,117,926 (b) Accrued liabilities at the reporting date 346,001 475,142 Total trade and other accounts payables 1,695,202 1,593,068 |
Schedule of current trade and other accounts payables | Trade and other accounts payable: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Trade creditors 1,096,540 876,163 Leasing obligation 4,448 10,446 Other accounts payable 248,213 231,317 Total 1,349,201 1,117,926 |
Schedule of composition of current trade and other accounts payable | The details of Trade and other accounts payables are as follows: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Boarding Fee 249,898 170,053 Aircraft Fuel 219,601 188,276 Suppliers technical purchases 114,690 40,305 Airport charges and overflight 106,534 77,484 Handling and ground handling 103,784 87,406 Other personnel expenses 89,621 81,632 Professional services and advisory 81,679 79,270 Marketing 75,220 61,053 Leases, maintenance and IT services 69,873 44,287 Services on board 68,605 44,589 Air companies 31,381 21,197 Land services 31,151 74,260 Maintenance 26,244 25,962 Crew 24,163 29,074 Achievement of goals 5,732 17,801 Communications 5,273 7,500 Aviation insurance 5,108 7,694 Aircraft and engines leasing 4,285 10,446 SEC agreement (*) - 4,719 Others 36,359 44,918 Total trade and other accounts payables 1,349,201 1,117,926 (*) Provision made for payments of fines, on July 25, 2016 LATAM reached agreements with the U.S. Department of Justice ("DOJ") U.S. and the Securities and Exchange Commission ("SEC") both authorities of the United States of America, in force as of this date, regarding the investigation on payments by LAN Airlines S.A. made in 2006-2007 to a consultant who advised on the resolution of labor matters in Argentina. The amount to the SEC agreement is ThUS$ 6,744 plus interests of ThUS$ 2,694. |
Schedule of composition of accrued liabilities | Liabilities accrued: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Accrued personnel expenses 125,246 113,785 Aircraft and engine maintenance 92,711 244,949 Accounts payable to personnel (*) 99,862 89,523 Others accrued liabilities 28,182 26,885 Total accrued liabilities 346,001 475,142 (*) Profits and bonds participation (Note 23 letter b) |
OTHER PROVISIONS (Tables)
OTHER PROVISIONS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of other provisions [abstract] | |
Schedule of composition of other provisions | Other provisions: Current liabilities Non-current liabilities Total Liabilities As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Provision for contingencies (1) Tax contingencies 1,913 1,425 258,305 313,064 260,218 314,489 Civil contingencies 497 993 62,858 56,413 63,355 57,406 Labor contingencies 373 225 28,360 29,307 28,733 29,532 Other - - 15,187 15,046 15,187 15,046 Provision for European Commision investigation (2) - - 9,883 8,664 9,883 8,664 Total other provisions (3) 2,783 2,643 374,593 422,494 377,376 425,137 (1) Provisions for contingencies: The tax contingencies correspond to litigation and tax criteria related to the tax treatment applicable to direct and indirect taxes, which are found in both administrative and judicial stage. The civil contingencies correspond to different demands of civil order filed against the Company. The labor contingencies correspond to different demands of labor order filed against the Company. The Provisions are recognized in the consolidated income statement in administrative expenses or tax expenses, as appropriate. (2) Provision made for proceedings brought by the European Commission for possible breaches of free competition in the freight market. (3) Total other provision at December 31, 2017, and 2016, include the fair value correspond to those contingencies from the business combination with TAM S.A and subsidiaries, with a probability of loss under 50%, which are not provided for the normal application of IFRS enforcement and that only must be recognized in the context of a business combination in accordance with IFRS 3. |
Schedule of movement of other provisions | Movement of provisions: European Legal Commission claims (1) Investigation (2) Total ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 705,552 9,999 715,551 Increase in provisions 54,675 - 54,675 Provision used (19,522 ) - (19,522 ) Difference by subsidiaries conversion (220,266 ) - (220,266 ) Reversal of provision (100,740 ) - (100,740 ) Exchange difference (1,246 ) (1,033 ) (2,279 ) Closing balance as of December 31, 2015 418,453 8,966 427,419 Opening balance as of January 1, 2016 418,453 8,966 427,419 Increase in provisions 141,797 - 141,797 Provision used (21,997 ) - (21,997 ) Difference by subsidiaries conversion 79,396 - 79,396 Reversal of provision (201,425 ) - (201,425 ) Exchange difference 249 (302 ) (53 ) Closing balance as of December 31, 2016 416,473 8,664 425,137 Opening balance as of January 1, 2017 416,473 8,664 425,137 Increase in provisions 106,943 - 106,943 Provision used (14,860 ) - (14,860 ) Difference by subsidiaries conversion (5,830 ) - (5,830 ) Reversal of provision (135,109 ) - (135,109 ) Exchange difference (124 ) 1,219 1,095 Closing balance as of December 31, 2017 367,493 9,883 377,376 (1) Cumulative balances include judicial deposit delivered as security, with respect to the "Aerovía Fundo" (FA), for US $ 100 million, made in order to suspend the application of the tax credit. The Company is discussing in the Court the constitutionality of the requirement made by FA in a lawsuit. Initially it was covered by the effects of a precautionary measure, this means that the Company would not be obliged to collect the tax, as long as there is no judicial decision in this regard. However, the decision taken by the judge in the first instance was published unfavorably, revoking the injunction. As the lawsuit is still underway (TAM appealed this first decision), the Company needed to make the judicial deposit, for the suspension of the enforceability of the tax credit; deposit that was classified in this item, discounting the existing provision for this purpose. Finally, if the final decision is favorable to the Company, the deposit made will return to TAM. On the other hand, if the court confirms the first decision, said deposit will become a final payment in favor of the Government of Brazil. The procedural stage as of December 31, 2017 is described in Note 31 in the Role of the case 2001.51.01.012530-0. (2) European Commission Provision: Provision constituted on the occasion of the process initiated in December 2007 by the General Competition Directorate of the European Commission against more than 25 cargo airlines, among which is Lan Cargo SA, which forms part of the global investigation initiated in 2006 for possible infractions of free competition in the air cargo market, which was carried out jointly by the European and United States authorities. With respect to Europe, the General Directorate of Competition imposed fines totaling € 799,445,000 (seven hundred and ninety-nine million four hundred and forty-five thousand Euros) for infractions of European Union regulations on free competition against eleven (11) airlines, among which are LATAM Airlines Group SA and its subsidiary Lan Cargo S.A. For its part, LATAM Airlines Group S.A. and Lan Cargo S.A., jointly and severally, have been fined for the amount of € 8,220,000 (eight million two hundred and twenty thousand Euros), for these infractions, an amount that was provisioned in the financial statements of LATAM. On January 24, 2011, LATAM Airlines Group S.A. and Lan Cargo S.A. They appealed the decision before the Court of Justice of the European Union. On December 16, 2015, the European Court resolved the appeal and annulled the Commission's Decision. The European Commission did not appeal the judgment, but on March 17, 2017, the European Commission again adopted its original decision to impose on the eleven lines original areas, the same fine previously imposed, amounting to a total of 776,465,000 Euros In the case of LAN Cargo and its parent, LATAM Airlines Group S.A. imposed the same fine of 8.2 million Euros. The procedural stage as of December 31, 2017 is described in Note 31 in section (ii) judgments received by LATAM Airlines Group S.A. and Subsidiaries. |
OTHER NON-FINANCIAL LIABILITI66
OTHER NON-FINANCIAL LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous liabilities [abstract] | |
Schedule of composition of non financial liabilities | Current liabilities Non-current liabilities Total Liabilities As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Deferred revenues (*) 2,690,961 2,655,086 158,305 213,781 2,849,266 2,868,867 Sales tax 22,902 19,402 - - 22,902 19,402 Retentions 38,197 45,542 - - 38,197 45,542 Others taxes 8,695 7,465 - - 8,695 7,465 Dividends payable 46,590 20,766 - - 46,590 20,766 Other sundry liabilities 16,618 13,984 - - 16,618 13,984 Total other non-financial liabilities 2,823,963 2,762,245 158,305 213,781 2,982,268 2,976,026 (*) Note 2.20. |
EMPLOYEE BENEFITS (Tables)
EMPLOYEE BENEFITS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of defined benefit plans [abstract] | |
Schedule of composition of employee benefits | As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Retirements payments 55,119 49,680 Resignation payments 10,124 10,097 Other obligations 35,844 22,545 Total liability for employee benefits 101,087 82,322 |
Schedule of movement of employee benefits | The movement in retirements and resignation payments and other obligations: Increase (decrease) Actuarial Opening current service Benefits (gains) Currency Closing balance provision paid losses translation balance ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 74,102 (13,609 ) (3,824 ) 14,631 (6,029 ) 65,271 From January 1 to December 31, 2016 65,271 17,487 (4,536 ) 3,105 995 82,322 From January 1 to December 31, 2017 82,322 21,635 (5,399 ) (2,763 ) 5,292 101,087 |
Schedule of principal assumptions | The principal assumptions used in the calculation to the provision in Chile are presented below: As of December 31, Assumptions 2017 2016 Discount rate 4.55 % 4.54 % Expected rate of salary increase 4.50 % 4.50 % Rate of turnover 6.98 % 6.16 % Mortality rate RV-2014 RV-2009 Inflation rate 2.72 % 2.86 % Retirement age of women 60 60 Retirement age of men 65 65 |
Schedule of sensitivity analysis actuarial assumptions | The sensitivity analysis for these variables is presented below: Effect on the liability As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Discount rate Change in the accrued liability an closing for increase in 100 p.b. (5,795 ) (5,665 ) Change in the accrued liability an closing for decrease of 100 p.b. 6,617 5,952 Rate of wage growth Change in the accrued liability an closing for increase in 100 p.b. 6,412 6,334 Change in the accrued liability an closing for decrease of 100 p.b. (5,750 ) (5,644 ) |
Schedule of liability for short-term | The liability for short-term: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Profit-sharing and bonuses (*) 99,862 89,523 (*) Accounts payables to employees (Note 20 letter b) |
Schedule of employment expenses | Employment expenses are detailed below: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Salaries and wages 1,604,552 1,549,402 1,631,320 Short-term employee benefits 145,245 132,436 171,366 Termination benefits 85,070 79,062 51,684 Other personnel expenses 188,767 190,233 218,435 Total 2,023,634 1,951,133 2,072,805 |
ACCOUNTS PAYABLE, NON-CURRENT (
ACCOUNTS PAYABLE, NON-CURRENT (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Trade and other payables [abstract] | |
Schedule of accounts payable, non-current | As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ Aircraft and engine maintenance 483,795 347,085 Provision for vacations and bonuses 14,725 12,080 Other sundry liabilities 312 226 Total accounts payable, non-current 498,832 359,391 |
EQUITY (Tables)
EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of reserves within equity [line items] | |
Schedule of movement of authorized shares | The following table shows the movement of the authorized and fully paid shares described above: Movement of authorized shares Nro. Of shares Autorized shares as of January 1, 2016 551,847,819 Increase capital approved at Extraordinary Shareholders meeting dated August 18, 2016 61,316,424 Full capital decrease due to maturity of the subscription and payment period of the compensation plan 2011, December 21, 2016 (*) (4,789,718 ) Authorized shares as of December 31, 2016 608,374,525 Autorized shares as of January 1, 2017 608,374,525 There is no movement of authorized shares during the period 2017 - Authorized shares as of December 31, 2017 608,374,525 (*) See Note 34 (a.1) |
Schedule of movement of fully paid shares | Movement fully paid shares Movement value Cost of issuance of shares and placement Paid- in N° of (1) of shares (2) Capital shares ThUS$ ThUS$ ThUS$ Paid shares as of January 1, 2016 545,547,819 2,552,066 (6,361 ) 2,545,705 Approved at Extraordinary Shereholders meeting dated August 18, 2016 60,849,592 608,496 - 608,496 Capital reserve - - (4,793 ) (4,793 ) Increase (decrease) by transfers and other changes (4) 10,282 156 - 156 Paid shares as of December 31, 2016 606,407,693 3,160,718 (11,154 ) 3,149,564 Paid shares as of January 1, 2017 606,407,693 3,160,718 (11,154 ) 3,149,564 Capital reserve - - (3,299 ) (3,299 ) Paid shares as of December 31, 2017 606,407,693 (3) 3,160,718 (14,453 ) 3,146,265 (1) Amounts reported represent only those arising from the payment of the shares subscribed. (2) Decrease of capital by capitalization of reserves for cost of issuance and placement of shares established according to Extraordinary Shareholder´s Meetings, where such decreases were authorized. (3) At December 31, 2017, the difference between authorized shares and fully paid shares are 1,966,832 shares, of which 1,500,000 correspond to compensation plans for executives of LATAM Airlines Group S.A. and subsidiaries (see Note 34(a.2)) and 466,832 correspond to the shares issued and unsubscribed from the capital increase approved at the Extraordinary Shareholders Meeting held on August 18, 2016. (4) These 10,282 shares were placed in January 2014 and charged to the Compensation plan 2011 (See Note 34 (a.1)) |
Schedule of movement of reserves of share-based payments | Movement of Reserves of share- based payments: Stock Opening option Deferred Net movement Closing Periods balance plan tax of the period balance ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 29,642 8,924 (2,919 ) 6,005 35,647 From January 1 to December 31, 2016 35,647 3,698 (807 ) 2,891 38,538 From January 1 to December 31, 2017 38,538 943 - 943 39,481 |
Schedule of balance of other sundry reserves | Balance of Other sundry reserves comprises the following: As of As of As of December 31, December 31, December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Higher value for TAM S.A. share exchange (1) 2,665,692 2,665,692 2,665,692 Reserve for the adjustment to the value of fixed assets (2) 2,620 2,620 2,620 Transactions with non-controlling interest (3) (25,911 ) (25,911 ) (25,891 ) Cost of issuance and placement of shares 0 (9 ) (4,793 ) Others (2,621 ) (2,111 ) (2,949 ) Total 2,639,780 2,640,281 2,634,679 (1) Corresponds to the difference in the shares value of TAM S.A. acquired (under subscriptions) by Sister Holdco S.A. and Holdco II S.A. (under the Exchange Offer), as stipulated in the Declaration of Posting of Merger by Absorption and the fair value of these exchange shares of LATAM Airlines Group S.A. at June 22, 2012. (2) Corresponds to the technical revaluation of fixed assets authorized by the Commission for the Financial Market in 1979, in Circular N° 1529. The revaluation was optional and could be taken only once, the reserve is not distributable and can only be capitalized. (3) The balance at December 31, 2017, correspond to the loss generated by the participation of Lan Pax Group S.A. and Inversiones Lan S.A. in the acquisition of shares of Aerovías de Integración Regional Aires of ThUS$ (3,480) and ThUS$ (20), respectively; the acquisition of TAM S.A. of the minority holding of Aerolinhas Brasileiras S.A. of ThUS$ (885) and the acquisition of minority interest of Aerolane S.A. by Lan Pax group S.A. through Holdco Ecuador S.A. for US$ (21,526). |
Schedule of movement of reserves with effect in other comprehensive income | Movement of Reserves with effect in other comprehensive income: Actuarial gain Currency Cash flow or loss on defined translation hedging benefit plans reserve reserve reserve Total ThUS$ ThUS$ ThUS$ ThUS$ Opening balance as of January 1, 2015 (1,193,871 ) (151,340 ) - (1,345,211 ) Derivatives valuation gains (losses) - 82,730 - 82,730 Deferred tax - (21,900 ) - (21,900 ) Actuarial reserves by employee benefit plans - - (14,627 ) (14,627 ) Deferred tax actuarial IAS by employee benefit plans - - 3,910 3,910 Difference by subsidiaries conversion (1,382,170 ) - - (1,382,170 ) Closing balance as of December 31, 2015 (2,576,041 ) (90,510 ) (10,717 ) (2,677,268 ) Opening balance as of January 1, 2016 (2,576,041 ) (90,510 ) (10,717 ) (2,677,268 ) Derivatives valuation gains (losses) - 126,360 - 126,360 Deferred tax - (34,344 ) - (34,344 ) Actuarial reserves by employee benefit plans - - (3,104 ) (3,104 ) Deferred tax actuarial IAS by employee benefit plans - - 921 921 Difference by subsidiaries conversion 489,486 - - 489,486 Closing balance as of December 31, 2016 (2,086,555 ) 1,506 (12,900 ) (2,097,949 ) Opening balance as of January 1, 2017 (2,086,555 ) 1,506 (12,900 ) (2,097,949 ) Derivatives valuation gains (losses) - 18,436 - 18,436 Deferred tax - (1,802 ) - (1,802 ) Actuarial reserves by employee benefit plans - - 2,758 2,758 Deferred tax actuarial IAS by employee benefit plans - - (784 ) (784 ) Difference by subsidiaries conversion (45,036 ) - - (45,036 ) Closing balance as of December 31, 2017 (2,131,591 ) 18,140 (10,926 ) (2,124,377 ) |
Schedule of movement of retained earnings | Movement of Retained earnings: Result Other Opening for the increase Closing Periods balance period Dividends (decreases) balance ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 536,190 (219,274 ) - 1,034 317,950 From January 1 to December 31, 2016 317,950 69,220 (20,766 ) - 366,404 From January 1 to December 31, 2017 366,404 155,304 (46,590 ) - 475,118 |
Schedule of dividends | (h) Dividends per share Minimum mandatory Final dividend dividend dividend Description of dividend 2017 2016 Date of dividend 12/31/2017 12-31-2016 Amount of the dividend (ThUS$) 46,590 20,766 (*) Number of shares among which the dividend is distributed 606,407,693 606,407,693 Dividend per share (US$) 0.0768 0.0342 (*) In accordance with the Material Fact issued on April 27, 2017, LATAM Airlines Group S.A. shareholders approved the distribution of the final dividend proposed by the board of directors in the Ordinary Session of April 4, 2017, amounting to ThUS $ 20,766, which corresponds to 30% of the profits for the year corresponding to the year 2016. |
Other Sundry Reserves [Member] | |
Disclosure of reserves within equity [line items] | |
Schedule of balance of other sundry reserves | Movement of Other sundry reserves: Opening Legal Closing Periods balance reserves balance ThUS$ ThUS$ ThUS$ From January 1 to December 31, 2015 2,635,748 (1,069 ) 2,634,679 From January 1 to December 31, 2016 2,634,679 5,602 2,640,281 From January 1 to December 31, 2017 2,640,281 (501 ) 2,639,780 |
REVENUE (Tables)
REVENUE (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Revenue [abstract] | |
Schedule of detail of revenues | The detail of revenues is as follows: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Passengers LAN 4,313,287 4,104,348 4,241,918 Passengers TAM 4,181,190 3,773,367 4,168,696 Cargo 1,119,430 1,110,625 1,329,431 Total 9,613,907 8,988,340 9,740,045 |
COSTS AND EXPENSES BY NATURE (T
COSTS AND EXPENSES BY NATURE (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Material income and expense [abstract] | |
Schedule of operating costs and administrative expenses | The main operating costs and administrative expenses are detailed below: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Aircraft fuel 2,318,816 2,056,643 2,651,067 Other rentals and landing fees 1,172,129 1,077,407 1,109,826 Aircraft rentals 579,551 568,979 525,134 Aircraft maintenance 430,825 366,153 437,235 Comissions 252,474 269,296 302,774 Passenger services 288,662 286,621 295,439 Other operating expenses 1,381,546 1,424,595 1,293,320 Total 6,424,003 6,049,694 6,614,795 |
Schedule of depreciation and amortisation expense | Depreciation and amortization are detailed below: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Depreciation (*) 943,215 910,071 897,670 Amortization 58,410 50,257 36,736 Total 1,001,625 960,328 934,406 (*) Include the depreciation of Property, plant and equipment and the maintenance cost of aircraft held under operating leases. The amount of maintenance cost included within the depreciation line item at December 31, 2017 is ThUS$ 359,940 and ThUS$ 345,651 for the same period of 2016. |
Schedule of finance costs | The detail of financial costs is as follows: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Bank loan interest 347,551 352,405 331,511 Financial leases 37,522 32,573 42,855 Other financial instruments 8,213 31,358 38,991 Total 393,286 416,336 413,357 |
OTHER INCOME, BY FUNCTION (Tabl
OTHER INCOME, BY FUNCTION (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Material income and expense [abstract] | |
Schedule of other income by function | Other income by function is as follows: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Coalition and loyalty program Multiplus 240,952 174,197 154,958 Tours 109,463 133,575 113,225 Aircraft leasing 103,741 65,011 46,547 Customs and warehousing 26,793 24,548 25,457 Maintenance 6,585 17,090 11,669 Duty free 8,038 11,141 16,408 Other miscellaneous income 54,317 113,186 17,517 Total 549,889 538,748 385,781 |
FOREIGN CURRENCY AND EXCHANGE73
FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Foreign exchange rates [abstract] | |
Schedule of foreign currency | The foreign currency detail of balances of monetary items in current and non-current assets is as follows: As of As of December 31, December 31, Current assets 2017 2016 ThUS$ ThUS$ Cash and cash equivalents 260,092 201,416 Argentine peso 7,309 4,438 Brazilian real 14,242 9,705 Chilean peso 81,693 30,221 Colombian peso 1,105 1,137 Euro 11,746 1,695 U.S. dollar 108,327 128,694 Other currency 35,670 25,526 Other financial assets, current 36,484 14,573 Argentine peso 21 12 Brazilian real 17 734 Chilean peso 26,605 585 Colombian peso 150 - U.S. dollar 9,343 12,879 Other currency 348 363 As of As of December 31, December 31, Current assets 2017 2016 ThUS$ ThUS$ Other non - financial assets, current 107,170 107,789 Argentine peso 16,507 16,086 Brazilian real 19,686 20,158 Chilean peso 34,258 1,619 Colombian peso 340 713 Euro 2,722 1,563 U.S. dollar 21,907 50,157 Other currency 11,750 17,493 Trade and other accounts receivable, current 373,447 251,204 Argentine peso 49,680 54,356 Brazilian real 22,006 30,675 Chilean peso 82,369 90,482 Colombian peso 1,169 9,720 Euro 48,286 21,923 U.S. dollar 34,268 14,086 Other currency 135,669 29,962 Accounts receivable from related entities, current 958 554 Chilean peso 735 554 U.S. dollar 223 - Tax current assets 33,575 28,198 Argentine peso 1,679 1,798 Brazilian real 3,934 2,462 Chilean peso 3,317 6,333 Colombian peso 660 1,418 Euro 179 273 U.S. dollar 327 177 Peruvian sol 21,948 14,387 Other currency 1,531 1,350 Total current assets 811,726 603,734 Argentine peso 75,196 76,690 Brazilian real 59,885 63,734 Chilean peso 228,977 129,794 Colombian peso 3,424 12,988 Euro 62,933 25,454 U.S. Dollar 174,395 205,993 Other currency 206,916 89,081 As of As of December 31, December 31, Non-current assets 2017 2016 ThUS$ ThUS$ Other financial assets, non-current 20,975 26,772 Brazilian real 3,831 2,769 Chilean peso 74 83 Colombian peso 281 285 Euro 7,853 6,966 U.S. dollar 7,273 14,920 Other currency 1,663 1,749 Other non - financial assets, non-current 9,108 19,069 Argentine peso 172 142 Brazilian real 6,368 6,029 U.S. dollar 38 8,309 Other currency 2,530 4,589 Accounts receivable, non-current 6,887 7,356 Chilean peso 6,887 7,356 Deferred tax assets 2,081 2,110 Colombian peso 86 117 Other currency 1,995 1,993 Total non-current assets 39,051 55,307 Argentine peso 172 142 Brazilian real 10,199 8,798 Chilean peso 6,961 7,439 Colombian peso 367 402 Euro 7,853 6,966 U.S. dollar 7,311 23,229 Other currency 6,188 8,331 The foreign currency detail of balances of monetary items in current liabilities and non-current is as follows: Up to 90 days 91 days to 1 year As of As of As of As of December 31, December 31, December 31, December 31, Current liabilities 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Other financial liabilities, current 36,000 287,175 115,182 455,086 Chilean peso 21,542 55,962 79,032 108,010 U.S. dollar 14,458 231,213 36,150 347,076 Trade and other accounts payables, current 919,373 585,149 33,707 16,097 Argentine peso 122,452 20,838 8,636 907 Brazilian real 28,810 40,740 669 27 Chilean peso 233,202 60,701 11,311 12,255 Colombian peso 2,964 9,049 855 578 Euro 58,081 23,445 9,165 5 U.S. dollar 409,380 374,431 1,154 962 Peruvian sol 39,064 33,701 825 1,093 Mexican peso 2,732 1,535 115 - Pound sterling 5,839 1,769 199 246 Uruguayan peso 1,890 6,899 - - Other currency 14,959 12,041 778 24 Accounts payable to related entities, current 760 220 - - Chilean peso 546 23 - - U.S. dollar 4 8 - - Other currency 210 189 - - Other provisions, current 959 511 - - Chilean peso 30 28 - - Other currency 929 483 - - Tax liabilities, current - (204 ) 174 2,501 Argentine peso - - 174 2,501 Brazilian real - (3 ) - - Chilean peso - (25 ) - - Other currency - (176 ) - - Up to 90 days 91 days to 1 year As of As of As of As of December 31, December 31, December 31, December 31, Current liabilities 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ Other non-financial liabilities, current 25,190 33,439 - - Argentine peso 393 13,463 - - Brazilian real 542 430 - - Chilean peso 11,283 14,999 - - Colombian peso 837 578 - - Euro 5,954 168 - - U.S. dollar 3,160 684 - - Other currency 3,021 3,117 - - Total current liabilities 982,282 906,290 149,063 473,684 Argentine peso 122,845 34,301 8,810 3,408 Brazilian real 29,352 41,167 669 27 Chilean peso 266,603 131,688 90,343 120,265 Colombian peso 3,801 9,627 855 578 Euro 64,035 23,613 9,165 5 U.S. dollar 427,002 606,336 37,304 348,038 Other currency 68,644 59,558 1,917 1,363 More than 1 to 3 years More than 3 to 5 years More than 5 years As of As of As of As of As of As of December 31, December 31, December 31, December 31, December 31, December 31, Non-current liabilities 2017 2016 2017 2016 2017 2016 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Other financial liabilities, non-current 276,436 178,793 263,798 747,218 189,500 41,785 Chilean peso 41,548 59,177 189,500 16,189 189,500 - U.S. dollar 234,888 119,616 74,298 731,029 - 41,785 Accounts payable, non-current 362,964 195,629 - - - - Chilean peso 13,251 10,474 - - - - U.S. dollar 348,329 183,904 - - - - Other currency 1,384 1,251 - - - - Other provisions, non-current 41,514 39,513 - - - - Argentine peso 940 635 - - - - Brazillian real 24,074 23,541 - - - - Chilean peso - 38 - - - - Colombian peso 551 569 - - - - Euro 9,883 8,664 - - - - U.S. dollar 6,066 6,066 - - - - Provisions for employees benefits, non-current 77,579 68,774 - - - - Brazilian real - 28 - - - - Chilean peso 73,399 68,380 - - - - U.S. dollar 4,180 366 - - - - Other non-financial liabilities, non-current - 3 - - - - Colombian peso - 3 - - - - Total non-current liabilities 758,493 482,712 263,798 747,218 189,500 41,785 Argentine peso 940 635 - - - - Brazilian real 24,074 23,569 - - - - Chilean peso 128,198 138,069 189,500 16,189 189,500 - Colombian peso 551 572 - - - - Euro 9,883 8,664 - - - - U.S. dollar 593,463 309,952 74,298 731,029 - 41,785 Other currency 1,384 1,251 - - - - As of As of December 31, December 31, General summary of foreign currency: 2017 2016 ThUS$ ThUS$ Total assets 850,777 659,041 Argentine peso 75,368 76,832 Brazilian real 70,084 72,532 Chilean peso 235,938 137,233 Colombian peso 3,791 13,390 Euro 70,786 32,420 U.S. dollar 181,706 229,222 Other currency 213,104 97,412 Total liabilities 2,343,136 2,651,689 Argentine peso 132,595 38,344 Brazilian real 54,095 64,763 Chilean peso 864,144 406,211 Colombian peso 5,207 10,777 Euro 83,083 32,282 U.S. dollar 1,132,067 2,037,140 Other currency 71,945 62,172 Net position Argentine peso (57,227 ) 38,488 Brazilian real 15,989 7,769 Chilean peso (628,206 ) (268,978 ) Colombian peso (1,416 ) 2,613 Euro (12,297 ) 138 U.S. dollar (950,361 ) (1,807,918 ) Other currency 141,159 35,240 |
Schedule of exchange differences | The following shows the current exchange rates for the U.S. dollar, on the dates indicated: As of December 31, 2017 2016 2015 2014 Argentine peso 18.57 15.84 12.97 8.55 Brazilian real 3.31 3.25 3.98 2.66 Chilean peso 614.75 669.47 710.16 606.75 Colombian peso 2,984.77 3,000.25 3,183.00 2,389.50 Euro 0.83 0.95 0.92 0.82 Strong bolivar 3,345.00 673.76 198.70 12.00 Australian dollar 1.28 1.38 1.37 1.22 Boliviano 6.86 6.86 6.85 6.86 Mexican peso 19.66 20.63 17.34 14.74 New Zealand dollar 1.41 1.44 1.46 1.28 Peruvian Sol 3.24 3.35 3.41 2.99 Uruguayan peso 28.74 29.28 29.88 24.25 |
EARNINGS _ (LOSS) PER SHARE (Ta
EARNINGS / (LOSS) PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Loss Per Share | |
Schedule of earning per share | For the period ended December 31, Basic earnings / (loss) per share 2017 2016 2015 Earnings / (loss) attributable to owners of the parent (ThUS$) 155,304 69,220 (219,274 ) Weighted average number of shares, basic 606,407,693 546,559,599 545,547,819 Basic earnings / (loss) per share (US$) 0.25610 0.12665 (0.40193 ) For the period ended December 31, Diluted earnings / (loss) per share 2017 2016 2015 Earnings / (loss) attributable to owners of the parent (ThUS$) 155,304 69,220 (219,274 ) Weighted average number of shares, basic 606,407,693 546,559,599 (*) 545,547,819 Weighted average number of shares, diluted 606,407,693 546,559,599 545,547,819 Diluted earnings / (loss) per share (US$) 0.25610 0.12665 (0.40193 ) (*) In the calculation of diluted earnings per share have not been considered the compensation plan disclosed in Note 34 (a.1), because the average market price is lower than the price of options. |
COMMITMENTS (Tables)
COMMITMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of contingent liabilities [abstract] | |
Schedule of operating leases | Details of the main operating leases are as follows: As of As of December 31, December 31, Lessor Aircraft 2017 2016 ACS Aero 1 Alpha limited Airbus A320 1 - Aircraft 76B-26329 Inc. Boeing 767 1 1 Aircraft 76B-27615 Inc. Boeing 767 - 1 Aircraft 76B-28206 Inc. Boeing 767 1 1 Aviación Centaurus, A.I.E. Airbus A319 3 3 Aviación Centaurus, A.I.E. Airbus A321 1 1 Aviación Real A.I.E. Airbus A319 1 1 Aviación Real A.I.E. Airbus A320 1 1 Aviación Tritón A.I.E. Airbus A319 3 3 Avolon Aerospace AOE 19 Limited Airbus A320 - 1 Avolon Aerospace AOE 20 Limited Airbus A320 - 1 Avolon Aerospace AOE 6 Limited Airbus A320 - 1 Avolon Aerospace AOE 62 Limited Boeing 777 1 1 Avolon Aerospace AOE 100 Limited Airbus A320 2 - AWAS 5234 Trust Airbus A320 1 1 Baker & Spice Aviation Limited Airbus A320 1 1 Bank of America Airbus A321 2 2 Bank of Utah Boeing 787 2 - CIT Aerospace International Airbus A320 1 2 ECAF I 1215 DAC Airbus A320 - 1 ECAF I 2838 DAC Airbus A320 1 1 ECAF I 40589 DAC Boeing 777 1 1 Eden Irish Aircr Leasing MSN 1459 Airbus A320 1 1 GECAS Sverige Aircraft Leasing Worldwide AB Airbus A320 - 1 GFL Aircraft Leasing Netherlands B.V. Airbus A320 - 1 IC Airlease One Limited Airbus A321 1 1 JSA Aircraft 38484, LLC Boeing 787 1 1 JSA Aircraft 7126, LLC Airbus A320 1 1 JSA Aircraft 7128, LLC Airbus A321 1 1 JSA Aircraft 7239, LLC Airbus A321 1 1 JSA Aircraft 7298, LLC Airbus A321 1 1 Macquarie Aerospace Finance 5125-2 Trust Airbus A320 1 1 Macquarie Aerospace Finance 5178 Limited Airbus A320 1 1 As of As of December 31, December 31, Lessor Aircraft 2017 2016 Magix Airlease Limited Airbus A320 - 1 MASL Sweden (8) AB Airbus A320 - 1 Merlin Aviation Leasing (Ireland) 18 Limited Airbus A320 1 1 Merlin Aviation Leasing (Ireland) 7 Limited Airbus A320 1 - NBB Cuckoo Co., Ltd Airbus A321 1 1 NBB Grosbeak Co., Ltd Airbus A321 1 1 NBB Redstart Co. Ltd Airbus A321 1 1 NBB-6658 Lease Partnership Airbus A321 1 1 NBB-6670 Lease Partnership Airbus A321 1 1 Orix Aviation Systems Limited Airbus A320 4 5 PAAL Aquila Company Limited Airbus A321 2 2 PAAL Gemini Company Limited Airbus A321 1 1 SASOF II (J) Aviation Ireland Limited Airbus A319 - 1 Shenton Aircraft Leasing Limited Airbus A320 1 1 Sky High XXIV Leasing Company Limited Airbus A320 5 5 Sky High XXV Leasing Company Limited Airbus A320 2 2 SMBC Aviation Capital Limited Airbus A320 4 6 SMBC Aviation Capital Limited Airbus A321 2 2 TC-CIT Aviation Ireland Limited Airbus A320 - 1 Volito Aviation August 2007 AB Airbus A320 2 2 Volito Aviation November 2006 AB Airbus A320 2 2 Volito November 2006 AB Airbus A320 2 2 Wells Fargo Bank North National Association Airbus A319 2 3 Wells Fargo Bank North National Association Airbus A320 - 2 Wells Fargo Bank Northwest National Association Airbus A320 5 7 Wells Fargo Bank Northwest National Association Airbus A350 2 2 Wells Fargo Bank Northwest National Association Boeing 767 2 3 Wells Fargo Bank Northwest National Association Boeing 777 4 6 Wells Fargo Bank Northwest National Association Boeing 787 11 11 Wilmington Trust Company Airbus A319 - 1 Total 93 111 |
Schedule of minimum future lease payments not yet payable | The minimum future lease payments not yet payable are the following: As of As of December 31, December 31, 2017 2016 ThUS$ ThUS$ No later than one year 462,205 533,319 Between one and five years 1,620,253 1,459,362 Over five years 1,498,064 1,262,509 Total 3,580,522 3,255,190 |
Schedule of minimum lease payments charged to income | The minimum operating lease payments charged to income are the following: For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Minimum operating lease payments 579,551 568,979 525,134 Total 579,551 568,979 525,134 |
Schedule of existing letters of credit related to operating leasing | At December 31, 2017 the Company has existing letters of credit related to operating leasing as follows: Value Release Creditor Guarantee Debtor Type ThUS$ date GE Capital Aviation Services Limited Lan Cargo S.A. One letter of credit 1,100 Nov 30, 2018 ACS Aero 1 Alpha Limited LATAM Airlines Group S.A. One letter of credit 3,255 Aug 31, 2018 Bank of America LATAM Airlines Group S.A. Three letter of credit 1,043 Jul 2, 2018 Bank of Utah LATAM Airlines Group S.A. One letter of credit 2,000 Mar 24, 2019 Engine Lease Finance Corporation LATAM Airlines Group S.A. One letter of credit 4,750 Oct 8, 2018 GE Capital Aviation Services Ltd. LATAM Airlines Group S.A. Six letter of credit 22,105 Apr 30, 2018 International Lease Finance Corp LATAM Airlines Group S.A. Three letter of credit 1,450 Aug 5, 2018 ORIX Aviation Systems Limited LATAM Airlines Group S.A. Two letter of credit 7,366 Dec 11, 2018 Wells Fargo Bank LATAM Airlines Group S.A. Nine letter of credit 15,160 Mar 2, 2018 CIT Aerospace International Tam Linhas Aéreas S.A. One letter of credit 6,000 Oct 25, 2018 Wells Fargo Bank North N.A. Tam Linhas Aéreas S.A. One letter of credit 5,500 Jul 15, 2018 69,729 |
Schedule of letters of credit, certificates of deposits and warranty insurance policies | At December 31, 2017 the Company has existing letters of credit, certificates of deposits and warranty insurance policies as follows: Value Release Creditor Guarantee Debtor Type ThUS$ date Servicio Nacional de Aduana del Ecuador Líneas Aéreas Nacionales del Ecuador S.A. Three letter of credit 1,705 Aug 5, 2018 Corporación Peruana de Aeropuertos y Aviación Comercial Lan Perú S.A. Twenty five letter of credit 1,897 Jan 31, 2018 Lima Airport Partners S.R.L. Lan Perú S.A. Eighteen letter of credit 996 Apr 30, 2018 Superintendencia Nacional de Aduanas y de Administración Tributaria Lan Perú S.A. Ten letter of credit 80,000 Jan 21, 2018 Aena Aeropuertos S.A. LATAM Airlines Group S.A. Four letter of credit 2,809 Nov 15, 2018 American Alternative Insurance Corporation LATAM Airlines Group S.A. Six letter of credit 3,690 Apr 5, 2018 Comisión Europea LATAM Airlines Group S.A. One letter of credit 9,868 Jun 16, 2018 Deutsche Bank A.G. LATAM Airlines Group S.A. One letter of credit 15,000 Mar 31, 2018 Dirección General de Aeronáutica Civil LATAM Airlines Group S.A. Fifty three letter of credit 19,759 Feb 28, 2018 Empresa Pública de Hidrocarburos del Ecuador EP Petroecuador LATAM Airlines Group S.A. One letter of credit 5,500 Jun 18, 2018 Metropolitan Dade County LATAM Airlines Group S.A. Eight letter of credit 2,273 Mar 13, 2018 4ª Vara Mista de Bayeux Tam Linhas Aéreas S.A. One insurance policies guarantee 1,044 Mar 25, 2021 Conselho Administrativo de Conselhos Federais Tam Linhas Aéreas S.A. One insurance policies guarantee 12,703 May 19, 2020 Fundação de Proteão de Defesa do Consumidor Procon Tam Linhas Aéreas S.A. Two insurance policies guarantee 3,926 Apr 1, 2021 União Federal Tam Linhas Aéreas S.A. One insurance policies guarantee 6,604 Oct 20, 2021 União Federal -Fazenda Nacional Tam Linhas Aéreas S.A. One insurance policies guarantee 41,243 Jul 30, 2020 União Federal - Procuradoira - Gral da fazenda Nacional Tam Linhas Aéreas S.A. Four insurance policies guarantee 50,196 Jan 4, 2020 União Federal Vara Comarca de DF Tam Linhas Aéreas S.A. One insurance policies guarantee 1,551 Sep 28, 2021 União Federal Vara Comarca de SP Tam Linhas Aéreas S.A. One insurance policies guarantee 19,268 Feb 22, 2021 280,032 |
TRANSACTIONS WITH RELATED PAR76
TRANSACTIONS WITH RELATED PARTIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments | |
Schedule of related party transactions | Details of transactions with related parties as follows: Transaction amount Nature of Nature of with related parties relationship with Country related parties As of December 31, Tax No. Related party related parties of origin transactions Currency 2017 2016 2015 ThUS$ ThUS$ ThUS$ 96.810.370-9 Inversiones Costa Verde Ltda. y CPA. Related director Chile Tickets sales CLP 18 6 15 65.216.000-K Comunidad Mujer Related director Chile Tickets sales CLP 14 9 2 Services provided for advertising CLP - (12 ) (10 ) 78.591.370-1 Bethia S.A and subsidiaries Related director Chile Services received of cargo transport CLP 1,643 (394 ) (259 ) Services received from National and International Courier CLP (382 ) (285 ) (227 ) Services provided of cargo transport CLP (17 ) 192 30 65.216.000-K Viajes Falabella Ltda. Related director Chile Sales commissions CLP (761 ) (727 ) (50 ) 79.773.440-3 Transportes San Felipe S.A Related director Chile Services received of transfer of passengers CLP - (84 ) (127 ) Tickets sales CLP 1 3 7 87.752.000-5 Granja Marina Tornagaleones S.A. Common shareholder Chile Tickets sales CLP 72 76 117 Foreign Consultoría Administrativa Profesional S.A. de C.V. Associate Mexico Professional counseling services received MXN (2,357 ) (2,563 ) (1,191 ) Foreign Inversora Aeronáutica Argentina Related director Argentina Leases as lessor ARS (251 ) (264 ) (269 ) Revenue billboard advertising maintaining US$ - - 1 Foreign TAM Aviação Executiva e Taxi Aéreo S/A Related director Brazil Services provided BRL 45 (120 ) (61 ) Services received at airports BRL (39 ) 7 5 Foreign Qatar Airways Indirect shareholder Qatar Services provided by aircraft lease US$ 31,707 - - Interlineal received service US$ (2,139 ) - - Interlineal provided service US$ 5,279 - - Services provided of handling US$ 1,002 - - |
Schedule of key management personnel compensation | The Company has defined for these purposes that key management personnel are the executives who define the Company’s policies and major guidelines and who directly affect the results of the business, considering the levels of Vice-Presidents, Chief Executives and Directors (Senior). For the period ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Remuneration 17,826 16,514 17,185 Management fees 468 556 547 Non-monetary benefits 740 778 864 Short-term benefits 36,970 23,459 19,814 Share-based payments 13,173 8,085 10,811 Total 69,177 49,392 49,221 |
SHARE-BASED PAYMENTS (Tables)
SHARE-BASED PAYMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Schedule of acquisition of the share's rights | The acquisition of the share's rights, in both companies is as follows: Number of shares Number of shares Accrued options Non accrued options As of As of As of As of December 31, December 31, December 31, December 31, Company 2017 2016 2017 2016 Multiplus S.A. - - 316,025 394,698 |
Schedule of number shares in circulation | Number shares in circulation Not acquired due Opening to breach of employment Closing balance Granted Exercised retention conditions balance From January 1 to December 31, 2016 175,910 138,282 (15,811 ) (60,525 ) 237,856 From January 1 to December 31, 2017 237,856 129,218 (41,801 ) (15,563 ) 309,710 |
Compensation Plan 2011 [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Schedule of share-based payments balance | In view of the above, at the expiration date, the 2011 Compensation Plan had a balance of 4,789,718 shares pending of subscription and payment, which was deducted from the authorized capital of the Company. Number of Stock Options In share-based payment arrangements Options Expired Opening waived by Action Closing Periods balance executives Options Balance From January 1 to December 31, 2016 4,518,000 (4,172,000 ) (346,000 ) - From January 1 to December 31, 2017 - - - - |
Compensation Plan 2016-2018 [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Schedule of share-based payments balance | This benefit is recognized in accordance with the provisions of IFRS 2 "Share-based Payments" and has been considered as cash settled award and therefore recorded at fair value as a liability, which is updated to the closing date of each financial statement with effect on profit or loss. Base Units Opening Closing Periods balance Granted Annulled Exercised Balance From January 1 to December 31, 2016 4,719,720 - - - 4,719,720 From January 1 to December 31, 2017 4,719,720 37,359 (1,193,286 ) (630,897 ) 2,932,896 |
Subsidiaries Compensation Plans [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Schedule of share-based payments balance | Multiplus S.A. 4nd Extraordinary 3rd Grant 4th Grant Grant Description 03/21/2012 04/03/2013 11/20/2013 Total Outstanding option number as December 31, 2016 84,249 173,399 137,050 394,698 Outstanding option number as December 31, 2017 84,249 163,251 68,525 316,025 |
STATEMENT OF CASH FLOWS (Tables
STATEMENT OF CASH FLOWS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Statement Of Cash Flows Details 3 | |
Schedule of other inflows (outflows) of cash | Other inflows (outflows) of cash: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Guarantees 59,988 (51,559 ) (2,125 ) Fuel hedge 19,862 (50,029 ) (243,587 ) DOJ fine - (12,750 ) - SEC agreement - (4,719 ) - Fuel derivatives premiums (2,832 ) (6,840 ) (20,932 ) Hedging margin guarantees (4,201 ) 1,184 87,842 Tax paid on bank transaction (6,635 ) (10,668 ) (7,176 ) Bank commissions, taxes paid and other (7,738 ) (769 ) (5,137 ) Change reservation systems (16,120 ) - 11,000 Currency hedge (17,798 ) (39,534 ) 1,802 Court deposits (33,457 ) (33,635 ) (6,314 ) Others - 50 - Total Other inflows (outflows) Operation flow (8,931 ) (209,269 ) (184,627 ) Others deposits in guarantees 3,754 - - Recovery loans convertible into shares - 8,896 20,000 Certificate of bank deposits - - 3,497 Tax paid on bank transaction (2,594 ) (3,716 ) (12,921 ) Others (10,383 ) (4,337 ) - Total Other inflows (outflows) Investment flow (9,223 ) 843 10,576 Loan guarantee 80,615 (74,186 ) - Credit card loan manager - - 3,227 Early redemption of bonds TAM 2020 - - (15,328 ) Guarantees bonds emission - - (26,111 ) Aircraft Financing advances (26,214 ) (125,149 ) (28,144 ) Settlement of derivative contracts (40,695 ) (29,828 ) (35,891 ) Others - - 2,490 Total Other inflows (outflows) Financing flow 13,706 (229,163 ) (99,757 ) |
Schedule of dividends paid to minority shareholders | Dividends: For the periods ended December 31, 2017 2016 2015 ThUS$ ThUS$ ThUS$ Latam Airlines Group S.A. (20,766 ) - - Multiplus S.A. (*) (45,876 ) (40,823 ) (34,632 ) Lan Perú S.A. (*) - (400 ) (400 ) Total dividends paid (66,642 ) (41,223 ) (35,032 ) (*) Dividends paid to minority shareholders |
Schedule of liabilities arising from financing activities | Reconciliation of liabilities arising from financing activities: As of Cash flows Non-Flow Movements As of Obligations with December 31, Obtainment Payment Interest accrued December 31, financial institutions 2016 Capital Capital Interest and others Reclassifications 2017 ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ ThUS$ Loans to exporters 278,164 130,000 (99,719 ) (7,563 ) 13,737 - 314,619 Bank loans 585,287 70,357 (345,552 ) (21,127 ) 32,668 - 321,633 Guaranteed obligations 4,758,552 182,140 (486,599 ) (154,072 ) 155,907 (419,085 ) 4,036,843 Other guaranteed obligations 256,420 - (15,022 ) (8,890 ) 9,667 - 242,175 Obligation with the public 1,309,345 1,055,167 (797,828 ) (128,764 ) 146,146 - 1,584,066 Financial leases 1,022,361 - (344,005 ) (46,874 ) 58,937 419,085 1,109,504 Other loans 394,791 13,107 (124,688 ) (22,434 ) 22,024 - 282,800 Total Obligations with financial institutions 8,604,920 1,450,771 (2,213,413 ) (389,724 ) 439,086 - 7,891,640 |
Schedule of statement of consolidated cash flow | Below are the cash flows associated with aircraft purchases, which are included in the statement of consolidated cash flow, in the item Purchases of properties, plants and equipment: For the periods ended December 31, 2017 2016 MUS$ MUS$ Increases (payments) (205,143 ) (170,684 ) Recoveries 78,641 727,585 Total cash flows (126,502 ) 556,901 |
GENERAL INFORMATION (Details)
GENERAL INFORMATION (Details) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Latam Travel Chile S.A. and Subsidiaries [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | [1] | 96.518.860-6 | ||
Country of origin | Chile | |||
Functional Currency | US$ | |||
Direct | [2] | 99.99% | 99.99% | 99.99% |
Indirect | [2] | 0.01% | 0.01% | 0.01% |
Total | [2] | 100.00% | 100.00% | 100.00% |
Inmobiliaria Aeronautica S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | 96.763.900-1 | |||
Country of origin | Chile | |||
Functional Currency | US$ | |||
Direct | 0.00% | 99.01% | 99.01% | |
Indirect | 0.00% | 0.99% | 0.99% | |
Total | 0.00% | 100.00% | 100.00% | |
Lan Pax Group S.A. and Subsidiaries [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | [3] | 96.969.680-0 | ||
Country of origin | Chile | |||
Functional Currency | US$ | |||
Direct | 99.8361% | 99.8361% | 99.8361% | |
Indirect | 0.1639% | 0.1639% | 0.1639% | |
Total | 100.00% | 100.00% | 100.00% | |
Lan Peru S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | Foreign | |||
Country of origin | Peru | Peru | ||
Functional Currency | US$ | US$ | ||
Direct | 49.00% | 49.00% | 49.00% | |
Indirect | 21.00% | 21.00% | 21.00% | |
Total | 70.00% | 70.00% | 70.00% | |
Lan Chile Investments Limited and Subsidiary [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | [3] | Foreign | ||
Country of origin | Cayman Insland | |||
Functional Currency | US$ | |||
Direct | 0.00% | 0.00% | 99.99% | |
Indirect | 0.00% | 0.00% | 0.01% | |
Total | 0.00% | 0.00% | 100.00% | |
Lan Cargo S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | 93.383.000-4 | |||
Country of origin | Chile | Chile | ||
Functional Currency | US$ | US$ | ||
Direct | 99.8939% | 99.8939% | 99.8939% | |
Indirect | 0.0041% | 0.0041% | 0.0041% | |
Total | 99.898% | 99.898% | 99.898% | |
Connecta Corporation [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | Foreign | |||
Country of origin | U.S.A. | |||
Functional Currency | US$ | |||
Direct | 0.00% | 0.00% | 0.00% | |
Indirect | 100.00% | 100.00% | 100.00% | |
Total | 100.00% | 100.00% | 100.00% | |
Prime Airport Services Inc. and Subsidary [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | [3] | Foreign | ||
Country of origin | U.S.A. | |||
Functional Currency | US$ | |||
Direct | 0.00% | 0.00% | 0.00% | |
Indirect | 100.00% | 100.00% | 100.00% | |
Total | 100.00% | 100.00% | 100.00% | |
Transporte Aereo S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | 96.951.280-7 | |||
Country of origin | Chile | Chile | ||
Functional Currency | US$ | US$ | ||
Direct | 0.00% | 0.00% | 0.00% | |
Indirect | 100.00% | 100.00% | 100.00% | |
Total | 100.00% | 100.00% | 100.00% | |
Aircraft International Leasing Limited [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | Foreign | |||
Country of origin | U.S.A. | |||
Functional Currency | US$ | |||
Direct | 0.00% | 0.00% | 0.00% | |
Indirect | 0.00% | 0.00% | 100.00% | |
Total | 0.00% | 0.00% | 100.00% | |
Fast Air Almacenes de Carga S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | 96.631.520-2 | |||
Country of origin | Chile | |||
Functional Currency | CLP | |||
Direct | 0.00% | 0.00% | 0.00% | |
Indirect | 100.00% | 100.00% | 100.00% | |
Total | 100.00% | 100.00% | 100.00% | |
Ladeco Cargo S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | 96.631.410-9 | |||
Country of origin | Chile | |||
Functional Currency | CLP | |||
Direct | 0.00% | 0.00% | 0.00% | |
Indirect | 0.00% | 0.00% | 100.00% | |
Total | 0.00% | 0.00% | 100.00% | |
Laser Cargo S.R.L. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | Foreign | |||
Country of origin | Argentina | |||
Functional Currency | ARS | |||
Direct | 0.00% | 0.00% | 0.00% | |
Indirect | 100.00% | 100.00% | 100.00% | |
Total | 100.00% | 100.00% | 100.00% | |
Lan Cargo Overseas Limited and Subsidiaries [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | [3] | Foreign | ||
Country of origin | Bahamas | |||
Functional Currency | US$ | |||
Direct | 0.00% | 0.00% | 0.00% | |
Indirect | 100.00% | 100.00% | 100.00% | |
Total | 100.00% | 100.00% | 100.00% | |
Lan Cargo Inversiones S.A. and Subsidary [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | [3] | 96.969.690-8 | ||
Country of origin | Chile | |||
Functional Currency | US$ | |||
Direct | 0.00% | 0.00% | 0.00% | |
Indirect | 100.00% | 100.00% | 100.00% | |
Total | 100.00% | 100.00% | 100.00% | |
Inversiones Lan S.A. and Subsidiaries [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | [3] | 96.575.810-0 | ||
Country of origin | Chile | |||
Functional Currency | US$ | |||
Direct | 99.71% | 99.71% | 99.71% | |
Indirect | 0.29% | 0.29% | 0.29% | |
Total | 100.00% | 100.00% | 100.00% | |
Technical Trainning LATAM S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | 59.068.920-3 | |||
Country of origin | Chile | |||
Functional Currency | CLP | |||
Direct | 99.83% | 99.83% | 99.83% | |
Indirect | 0.17% | 0.17% | 0.17% | |
Total | 100.00% | 100.00% | 100.00% | |
Latam Finance Limited [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | Foreign | |||
Country of origin | Cayman Ins land | |||
Functional Currency | US$ | |||
Direct | 100.00% | 0.00% | 0.00% | |
Indirect | 0.00% | 0.00% | 0.00% | |
Total | 100.00% | 0.00% | 0.00% | |
Peuco Finance Limited [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | Foreign | |||
Country of origin | Cayman Ins land | |||
Functional Currency | US$ | |||
Direct | 100.00% | 0.00% | 0.00% | |
Indirect | 0.00% | 0.00% | 0.00% | |
Total | 100.00% | 0.00% | 0.00% | |
Profesional Airline Services INC. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | Foreign | |||
Country of origin | U.S.A. | |||
Functional Currency | US$ | |||
Direct | 100.00% | 0.00% | 0.00% | |
Indirect | 0.00% | 0.00% | 0.00% | |
Total | 100.00% | 0.00% | 0.00% | |
TAM S.A. and Subsidiaries [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Tax No. | [3] | Foreign | ||
Country of origin | Brazil | Brazil | ||
Functional Currency | BRL | BRL | ||
Direct | [4] | 63.0901% | 63.0901% | 63.0901% |
Indirect | [4] | 36.9099% | 36.9099% | 36.9099% |
Total | [4] | 100.00% | 99.9993% | 99.9993% |
[1] | In June 2016, Lantours Division of Terrestrial Services S.A. changed its name to Latam Travel Chile S.A. | |||
[2] | In June 2016, Lantours Division de Servicios Terrestres S.A. changes its name to Latam Travel Chile S.A. | |||
[3] | The Equity reported corresponds to Equity attributable to owners of the parent, it does not include Non-controlling interest. | |||
[4] | As of December 31, 2017, indirect ownership participation on TAM S.A and subsidiaries is from Holdco I S.A., LATAM is entitled to 99,9983% of the economic rights and 49% of the rights politicians product of provisional measure No. 714 of the Brazilian Government implemented during 2016 which allows foreign capital to have up to 49% of the property. |
GENERAL INFORMATION (Details 1)
GENERAL INFORMATION (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Disclosure of subsidiaries [line items] | ||||||
Assets | $ 18,797,972 | $ 19,198,194 | ||||
Liabilities | 14,530,736 | 15,012,890 | ||||
Equity | 4,267,236 | 4,185,304 | $ 2,937,548 | $ 4,503,695 | ||
Net income (loss) for the year | $ 200,714 | 110,670 | (178,732) | |||
Latam Travel Chile S.A. and Subsidiaries [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | [1] | 96.518.860-6 | ||||
Assets | [1] | $ 6,771 | 5,468 | 5,613 | ||
Liabilities | [1] | 2,197 | 2,727 | 5,522 | ||
Equity | [1] | 4,574 | 2,741 | 91 | ||
Net income (loss) for the year | [1] | $ 1,833 | 2,650 | 2,341 | ||
Inmobiliaria Aeronautica S.A. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | 96.763.900-1 | |||||
Assets | 36,756 | 39,302 | ||||
Liabilities | 8,843 | 14,832 | ||||
Equity | 27,913 | 24,470 | ||||
Net income (loss) for the year | 3,443 | 1,404 | ||||
Lan Pax Group S.A. and Subsidiaries [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | [2] | 96.969.680-0 | ||||
Assets | [2] | $ 499,345 | 475,763 | 519,663 | ||
Liabilities | [2] | 1,101,548 | 1,045,761 | 1,049,232 | ||
Equity | [2] | (596,406) | (561,472) | (521,907) | ||
Net income (loss) for the year | [2] | $ (35,943) | (36,331) | (35,187) | ||
Lan Peru S.A. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | Foreign | |||||
Assets | $ 315,607 | 306,111 | 255,691 | |||
Liabilities | 303,204 | 294,912 | 240,938 | |||
Equity | 12,403 | 11,199 | 14,753 | |||
Net income (loss) for the year | $ 1,205 | (2,164) | 5,068 | |||
Lan Chile Investments Limited and Subsidiary [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | [2] | Foreign | ||||
Assets | [2] | 2,015 | ||||
Liabilities | [2] | 13 | ||||
Equity | [2] | 2,002 | ||||
Net income (loss) for the year | [2] | 23 | (13) | |||
Lan Cargo S.A. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | 93.383.000-4 | |||||
Assets | $ 584,169 | 480,908 | 483,033 | |||
Liabilities | 371,934 | 239,728 | 217,037 | |||
Equity | 212,235 | 241,180 | 265,966 | |||
Net income (loss) for the year | $ (30,220) | (24,813) | (74,408) | |||
Connecta Corporation [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | Foreign | |||||
Assets | $ 38,735 | 31,981 | 37,070 | |||
Liabilities | 17,248 | 23,525 | 38,298 | |||
Equity | 21,487 | 8,456 | (1,228) | |||
Net income (loss) for the year | $ 13,013 | 9,684 | 194 | |||
Prime Airport Services Inc. and Subsidary [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | [2] | Foreign | ||||
Assets | [2] | $ 12,671 | 7,385 | 6,683 | ||
Liabilities | [2] | 15,722 | 11,294 | 11,180 | ||
Equity | [2] | (3,051) | (3,909) | (4,497) | ||
Net income (loss) for the year | [2] | $ 857 | 588 | 279 | ||
Transporte Aereo S.A. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | 96.951.280-7 | |||||
Assets | $ 324,498 | 340,940 | 331,117 | |||
Liabilities | 104,357 | 124,805 | 122,666 | |||
Equity | 220,141 | 216,135 | 208,451 | |||
Net income (loss) for the year | $ 2,172 | 8,206 | 5,878 | |||
Aircraft International Leasing Limited [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | Foreign | |||||
Assets | ||||||
Liabilities | 4 | |||||
Equity | (4) | |||||
Net income (loss) for the year | 9 | (4) | ||||
Fast Air Almacenes de Carga S.A. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | 96.631.520-2 | |||||
Assets | $ 12,931 | 10,023 | 8,985 | |||
Liabilities | 4,863 | 3,645 | 4,641 | |||
Equity | 8,068 | 6,378 | 4,344 | |||
Net income (loss) for the year | $ 939 | 1,717 | 1,811 | |||
Laser Cargo S.R.L. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | Foreign | |||||
Assets | $ 18 | 21 | 27 | |||
Liabilities | 27 | 32 | 39 | |||
Equity | (9) | (11) | (12) | |||
Net income (loss) for the year | $ 2 | (1) | 69 | |||
Lan Cargo Overseas Limited and Subsidiaries [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | [2] | Foreign | ||||
Assets | [2] | $ 66,039 | 54,092 | 62,406 | ||
Liabilities | [2] | 42,271 | 35,178 | 43,759 | ||
Equity | [2] | 18,808 | 15,737 | 15,563 | ||
Net income (loss) for the year | [2] | $ 3,438 | 176 | 3,344 | ||
Lan Cargo Inversiones S.A. and Subsidary [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | [2] | 96.969.690-8 | ||||
Assets | [2] | $ 144,884 | 80,644 | 54,179 | ||
Liabilities | [2] | 156,005 | 95,747 | 68,220 | ||
Equity | [2] | (10,112) | (13,506) | (12,601) | ||
Net income (loss) for the year | [2] | $ 3,389 | (910) | 113 | ||
Inversiones Lan S.A. and Subsidiaries [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | [2] | 96.575.810-0 | ||||
Assets | [2] | $ 11,681 | 10,971 | 16,512 | ||
Liabilities | [2] | 5,201 | 6,452 | 14,676 | ||
Equity | [2] | 6,377 | 4,452 | 1,828 | ||
Net income (loss) for the year | [2] | $ 1,561 | 2,549 | 2,772 | ||
Technical Trainning LATAM S.A. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | 59.068.920-3 | |||||
Assets | $ 678,289 | 1,745 | 1,527 | |||
Liabilities | 708,306 | 284 | 266 | |||
Equity | (30,017) | 1,461 | 1,261 | |||
Net income (loss) for the year | $ (30,017) | 73 | (72) | |||
Peuco Finance Limited [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | Foreign | |||||
Assets | $ 608,191 | |||||
Liabilities | 608,191 | |||||
Equity | ||||||
Net income (loss) for the year | ||||||
Profesional Airline Services INC. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | Foreign | |||||
Assets | $ 3,703 | |||||
Liabilities | 3,438 | |||||
Equity | 265 | |||||
Net income (loss) for the year | $ 294 | |||||
TAM S.A. and Subsidiaries [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Tax No . | [2] | Foreign | ||||
Assets | [3] | $ 4,490,714 | 5,287,286 | 4,969,553 | [2] | |
Liabilities | [3] | 3,555,423 | 4,710,308 | 4,199,223 | ||
Equity | [2] | 856,829 | 495,562 | 423,190 | ||
Net income (loss) for the year | [2],[3] | $ 160,582 | $ 2,107 | $ (183,581) | ||
[1] | In June 2016, Lantours Division of Terrestrial Services S.A. changed its name to Latam Travel Chile S.A. | |||||
[2] | The Equity reported corresponds to Equity attributable to owners of the parent, it does not include Non-controlling interest. | |||||
[3] | Correspond to consolidated information of TAM S.A. and Subsidiaries. |
GENERAL INFORMATION (Details Na
GENERAL INFORMATION (Details Narrative) $ in Thousands | Apr. 02, 2016 | Jan. 16, 2016shares | Dec. 31, 2017USD ($)Employeeshares | Dec. 11, 2017shares | Dec. 31, 2016shares | Aug. 18, 2016shares | Dec. 31, 2015shares |
Disclosure of subsidiaries [line items] | |||||||
Number of revised authorized shares capital stock | 608,374,525 | 608,374,525 | 551,847,819 | ||||
Number of average employees | Employee | 43,593 | ||||||
Number of employees | Employee | 43,095 | ||||||
Administrative Staff [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Number of employees | Employee | 6,922 | ||||||
Maintenance Staff [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Number of employees | Employee | 4,742 | ||||||
Operations Staff [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Number of employees | Employee | 15,126 | ||||||
Cabin Crew [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Number of employees | Employee | 9,016 | ||||||
Controls Crew [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Number of employees | Employee | 3,957 | ||||||
Sales Staff [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Number of employees | Employee | 3,332 | ||||||
Cueto Group [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of ownership interest holding by controlling shareholder | 27.91% | ||||||
1485 Registered Shareholders [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of share capital in form of ADRs | 4.14% | ||||||
Common/Ordinary Shares [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Number of shares subscribed and paid capital | 606,407,693 | 606,407,693 | |||||
Number of shares issued | 61,316,424 | ||||||
Number of shares placed | 60,849,592 | ||||||
Number of revised authorized shares capital stock | 608,374,525 | 61,316,424 | |||||
Number of shares pending of subscription and payment | 1,966,832 | 4,789,718 | |||||
Number of shares allocated for stock option plan | 1,500,000 | ||||||
Number of balances shares for placement of the last capital increase | 466,832 | ||||||
Number of previously authorized shares capital stock | 613,164,243 | ||||||
Number of shares for subscription and payment expired | 30,499,685 | 4,789,718 | |||||
TAM S.A. and Subsidiaries [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Number of balances shares for placement of the last capital increase | 210,000 | ||||||
Lan Pax Group S.A. and Subsidiaries [Member] | Class C [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Number of shares placed | 90,000,000 | ||||||
Percentage of equity ownership | 99.8656% | ||||||
Percentage of ownership chages for capital increase | 4.87% | ||||||
Peuco Finance Limited [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of equity ownership | 100.00% | ||||||
Inmobiliaria Aeronautica S.A. [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of equity ownership | 100.00% | ||||||
Rampas Andes Airport Services S.A. [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Sale value | $ | $ 8,624 | ||||||
TEP Chile S.A [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Maximum percentage of voting rights | 51.00% | ||||||
Number of voting shares hold | 938 | ||||||
Holdco I S.A [Member] | TAM S.A. and Subsidiaries [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of economic rights | 99.99% | ||||||
Percentage of rights politicians product | 49.00% | ||||||
Maximum percentage of voting rights | 49.00% | ||||||
Number of voting shares hold | 901 | ||||||
Aerovias de Integracion Regional, AIRES S.A. [Member] | Inversiones Lan S.A. and Subsidiaries [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of equity ownership | 99.1941% | ||||||
Decrease in ownership interest | 9.498% | ||||||
Number of shares acquired | 4,951 | ||||||
Multiplus Corretora de Seguros Ltda [Member] | TAM S.A. and Subsidiaries [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of equity ownership | 99.99% | ||||||
Multiplus Corretora de Seguros Ltda [Member] | TAM S.A. and Subsidiaries [Member] | Prismah Fidelidade Ltda [Member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of equity ownership | 99.99% |
SUMMARY OF SIGNIFICANT ACCOUN82
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about intangible assets [line items] | ||
Decrease in net income (loss) for the period | $ 18,200 | |
Loss related to foreign exchange differences | 11,000 | |
Gain of unclaimed fees for expired tickets | 32,300 | |
Useful life of intangible asset | The estimated new useful life is 5 years, equivalent to the period for finishing all the image changes necessary. | |
TAM S.A. and Subsidiaries [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Loss resulting from an account reconciliation process | $ 39,500 | |
Trade Marks [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Useful life of intangible asset | P5Y |
FINANCIAL RISK MANAGEMENT (Deta
FINANCIAL RISK MANAGEMENT (Details) | 3 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Fuel-Price Risk [Member] | Fuel Derivative [Member] | ||||||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||||||
Percentage of coverage over the expected volume of consumption | [1] | 5.00% | 12.00% | 19.00% | 1600.00% | 2100.00% | 12.00% | 1800.00% |
[1] | The volume shown in the table considers all the hedging instruments (swaps and options). |
FINANCIAL RISK MANAGEMENT (De84
FINANCIAL RISK MANAGEMENT (Details 1) - Fuel-Price Risk [Member] - Fuel Derivative [Member] - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Top of range [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Benchmark price (per barrel) | $ 5 | $ 5 |
Positions effect on equity | $ 1,800 | $ 3,120 |
Bottom of range [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Benchmark price (per barrel) | $ (5) | $ (5) |
Positions effect on equity | $ (3,300) | $ (4,780) |
FINANCIAL RISK MANAGEMENT (De85
FINANCIAL RISK MANAGEMENT (Details 2) - Foreign Exchange Rate Risk [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Bottom of range [member] | |||
Disclosure of risk management strategy related to hedge accounting [line items] | |||
Appreciation (depreciation) of R$ /GBP | [1] | (10.00%) | (10.00%) |
Positions effect on equity | $ 80,500 | $ 11,920 | |
Effect on Other comprehensive income recognized in Total equity | $ (386,620) | $ 351,040 | |
Top of range [member] | |||
Disclosure of risk management strategy related to hedge accounting [line items] | |||
Appreciation (depreciation) of R$ /GBP | [1] | 10.00% | 10.00% |
Positions effect on equity | $ (80,500) | $ (11,920) | |
Effect on Other comprehensive income recognized in Total equity | $ (316,330) | $ (287,220) | |
Foreign Forward Instrument [Member] | Bottom of range [member] | |||
Disclosure of risk management strategy related to hedge accounting [line items] | |||
Appreciation (depreciation) of R$ /GBP | [2] | (10.00%) | (10.00%) |
Positions effect on equity | $ (10,700) | $ (1,020) | |
Foreign Forward Instrument [Member] | Top of range [member] | |||
Disclosure of risk management strategy related to hedge accounting [line items] | |||
Appreciation (depreciation) of R$ /GBP | [2] | 10.00% | 10.00% |
Positions effect on equity | $ 9,700 | $ 3,440 | |
[1] | Appreciation (depreciation) of US$ regard to the covered currencies. | ||
[2] | Both currencies (BRL and GBP) only apply period to the closing of 2016. |
FINANCIAL RISK MANAGEMENT (De86
FINANCIAL RISK MANAGEMENT (Details 3) - Interest Rate Risk [Member] - Interest Rate Derivative Contracts [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2017 | |
Bottom of range [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Increase (decrease) futures curve in libor 3 months | -100 basis points | |
Positions on effect on profit or loss before tax | $ (4,030) | $ (1,900) |
Positions effect on equity | $ (32,160) | (29,260) |
Top of range [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Increase (decrease) futures curve in libor 3 months | +100 basis points | |
Positions on effect on profit or loss before tax | $ 3,930 | 1,900 |
Positions effect on equity | $ 32,160 | $ 29,260 |
FINANCIAL RISK MANAGEMENT (De87
FINANCIAL RISK MANAGEMENT (Details 4) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | |||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | $ 14,817 | $ 31,560 | ||
CITIBANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
SANTANDER [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.036.000-K | |||
Creditor country | Chile | |||
Currency | US$ | |||
BNP PARIBAS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
PEFCO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
CITIBANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
ING [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
KFWIP EX-BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | Germany | Germany | ||
Currency | US$ | US$ | ||
PK AirFinance [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
NATIXIS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | France | France | ||
Currency | US$ | US$ | ||
DEUTSCHE BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
US BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
APPLE BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
BTMU [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
CITIBANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
WILMINGTON TRUST [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
WELLS FARGO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
CREDIT AGRICOLE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | France | France | ||
Currency | US$ | US$ | ||
ESTADO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.030.000-7 | |||
Creditor country | Chile | |||
Currency | UF | |||
BANK OF NEWYORK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
SANTANDER [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.036.000-K | 97.036.000-K | ||
Creditor country | Chile | Chile | ||
Currency | US$ | US$ | ||
BLADEX [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
CORP BANCA [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.023.000-9 | 97.023.000-9 | ||
Creditor country | Chile | Chile | ||
Currency | UF | UF | ||
HSBC [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.951.000-4 | 97.951.000-4 | ||
Creditor country | Chile | Chile | ||
Currency | US$ | US$ | ||
BANCO DO BRASIL [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97,003,000-K | 97.003.000-K | ||
Creditor country | Chile | Chile | ||
Currency | US$ | US$ | ||
ESTADO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.030.000-7 | 97.030.000-7 | ||
Creditor country | Chile | Chile | ||
Currency | US$ | US$ | ||
SANTANDER [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.036.000-K | 97.036.000-K | ||
Creditor country | Chile | Chile | ||
Currency | US$ | US$ | ||
BBVA [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.032.000-8 | 97.032.000-8 | ||
Creditor country | Chile | Chile | ||
Currency | US$ | US$ | ||
BBVA [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.032.000-8 | 97.032.000-8 | ||
Creditor country | Chile | Chile | ||
Currency | UF | UF | ||
DVB BANK SE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
BOEING [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
DVB BANK SE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | U.S.A. | |||
Currency | US$ | |||
WELLS FARGO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
BNP PARIBAS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
CREDITAGRICOLE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | France | France | ||
Currency | US$ | US$ | ||
CREDITAGRICOLE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | France | |||
Currency | US$ | |||
INVESTEC [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A | England | ||
Currency | US$ | US$ | ||
AIRBUS FINANCIAL [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | US$ | ||
DVB BANK SE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | U.S.A. | |||
Currency | US$ | |||
TAM S.A. and Subsidiaries [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | [1] | Foreign | ||
TAM S.A. and Subsidiaries [Member] | SOCIETE GENERALE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | France | France | ||
Currency | BRL | BRL | ||
TAM S.A. and Subsidiaries [Member] | BANCO IBMS .A [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | Brazil | Brazil | ||
Currency | BRL | BRL | ||
TAM S.A. and Subsidiaries [Member] | SOCIETEGENERALE MILAN BRANCH [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | Italy | Italy | ||
Currency | US$ | US$ | ||
TAM S.A. and Subsidiaries [Member] | WACAPOULEASING S.A. [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | Luxemburg | Luxemburg | ||
Currency | US$ | US$ | ||
TAM S.A. and Subsidiaries [Member] | NATIXIS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | France | France | ||
Currency | US$ | US$ | ||
TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | Holland | Holland | ||
Currency | US$ | US$ | ||
TAM S.A. and Subsidiaries [Member] | HP FINANCIAL SERVICE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | Brazil | |||
Currency | BRL | |||
TAM S.A. and Subsidiaries [Member] | KFW IPEX BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | Germany | |||
Currency | US$ | |||
TAM S.A. and Subsidiaries [Member] | CITIBANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | U.S.A | |||
Currency | US$ | |||
Liquidity Risk [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | $ 7,633,613 | $ 7,257,368 | ||
Total trade and other payables | 1,349,961 | 1,118,195 | ||
Total consolidated | 9,341,682 | 9,828,448 | ||
Liquidity Risk [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 535,352 | 508,683 | ||
Total trade and other payables | 1,338,746 | 1,085,516 | ||
Total consolidated | 1,891,289 | 1,620,952 | ||
Liquidity Risk [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 960,284 | 944,749 | ||
Total trade and other payables | 11,215 | 32,679 | ||
Total consolidated | 1,014,552 | 1,592,486 | ||
Liquidity Risk [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 8,917,833 | 8,236,169 | ||
Total trade and other payables | 1,349,961 | 1,118,195 | ||
Total consolidated | 10,639,178 | 11,050,885 | ||
Liquidity Risk [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 3,010,385 | 2,476,840 | ||
Total trade and other payables | ||||
Total consolidated | 3,246,203 | 2,697,924 | ||
Liquidity Risk [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 1,630,990 | 2,002,850 | ||
Total trade and other payables | ||||
Total consolidated | 1,706,312 | 2,794,588 | ||
Liquidity Risk [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 2,780,822 | 2,303,047 | ||
Total trade and other payables | ||||
Total consolidated | $ 2,780,822 | $ 2,344,935 | ||
Liquidity Risk [Member] | OTHERS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Creditor country | OTHERS | OTHERS | ||
Currency | Others currencies | Other currencies | ||
Nominal value | $ 301,459 | $ 151,938 | ||
Effective rate % | ||||
Nominal rate % | ||||
Liquidity Risk [Member] | OTHERS [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | $ 290,244 | 140,471 | ||
Liquidity Risk [Member] | OTHERS [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | 11,215 | 11,467 | ||
Liquidity Risk [Member] | OTHERS [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | 301,459 | $ 151,938 | ||
Liquidity Risk [Member] | OTHERS [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | OTHERS [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | OTHERS [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | OTHERS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Creditor country | OTHERS | OTHERS | ||
Currency | BRL | BRL | ||
Nominal value | $ 315,605 | $ 346,064 | ||
Effective rate % | ||||
Nominal rate % | ||||
Liquidity Risk [Member] | OTHERS [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | $ 315,605 | 346,037 | ||
Liquidity Risk [Member] | OTHERS [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | 27 | |||
Liquidity Risk [Member] | OTHERS [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | 315,605 | $ 346,064 | ||
Liquidity Risk [Member] | OTHERS [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | OTHERS [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | OTHERS [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | OTHERS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Creditor country | OTHERS | OTHERS | ||
Currency | CLP | CLP | ||
Nominal value | $ 165,299 | $ 48,812 | ||
Effective rate % | ||||
Nominal rate % | ||||
Liquidity Risk [Member] | OTHERS [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | $ 165,299 | 48,842 | ||
Liquidity Risk [Member] | OTHERS [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | (30) | |||
Liquidity Risk [Member] | OTHERS [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | 165,299 | $ 48,812 | ||
Liquidity Risk [Member] | OTHERS [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | OTHERS [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | OTHERS [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | Others [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Creditor country | OTHERS | OTHERS | ||
Currency | ThUS$ | ThUS$ | ||
Nominal value | $ 566,838 | $ 571,112 | ||
Effective rate % | ||||
Nominal rate % | ||||
Liquidity Risk [Member] | Others [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | $ 566,838 | 549,897 | ||
Liquidity Risk [Member] | Others [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | 21,215 | |||
Liquidity Risk [Member] | Others [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | 566,838 | $ 571,112 | ||
Liquidity Risk [Member] | Others [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | Others [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | Others [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Trade and other accounts payables | ||||
Liquidity Risk [Member] | Viajes Falabella Ltda [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 78.997.060-2 | 78.997.060-2 | ||
Creditor country | Chile | Chile | ||
Currency | CLP | CLP | ||
Nominal value | $ 534 | $ 46 | ||
Effective rate % | ||||
Nominal rate % | ||||
Liquidity Risk [Member] | Viajes Falabella Ltda [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | $ 534 | 46 | ||
Liquidity Risk [Member] | Viajes Falabella Ltda [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Viajes Falabella Ltda [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | 534 | $ 46 | ||
Liquidity Risk [Member] | Viajes Falabella Ltda [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Viajes Falabella Ltda [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Viajes Falabella Ltda [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Inversora Aeronautica Argentina [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0 -E | ||
Creditor country | Argentina | Argentina | ||
Currency | ThUS$ | ThUS$ | ||
Nominal value | $ 4 | $ 2 | ||
Effective rate % | ||||
Nominal rate % | ||||
Liquidity Risk [Member] | Inversora Aeronautica Argentina [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | $ 4 | 2 | ||
Liquidity Risk [Member] | Inversora Aeronautica Argentina [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Inversora Aeronautica Argentina [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | 4 | $ 2 | ||
Liquidity Risk [Member] | Inversora Aeronautica Argentina [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Inversora Aeronautica Argentina [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Inversora Aeronautica Argentina [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Consultoria Administrativa Profesional S.A. de C.V. [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | |||
Creditor country | Mexico | |||
Currency | MXN | |||
Nominal value | $ 210 | |||
Effective rate % | ||||
Nominal rate % | ||||
Liquidity Risk [Member] | Consultoria Administrativa Profesional S.A. de C.V. [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | $ 210 | |||
Liquidity Risk [Member] | Consultoria Administrativa Profesional S.A. de C.V. [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Consultoria Administrativa Profesional S.A. de C.V. [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | 210 | |||
Liquidity Risk [Member] | Consultoria Administrativa Profesional S.A. de C.V. [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Consultoria Administrativa Profesional S.A. de C.V. [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Consultoria Administrativa Profesional S.A. de C.V. [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Bethia S.A. y Filiales [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 78.591.370-1 | 78.591.370-1 | ||
Creditor country | Chile | Chile | ||
Currency | CLP | CLP | ||
Nominal value | $ 12 | $ 6 | ||
Effective rate % | ||||
Nominal rate % | ||||
Liquidity Risk [Member] | Bethia S.A. y Filiales [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | $ 12 | 6 | ||
Liquidity Risk [Member] | Bethia S.A. y Filiales [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Bethia S.A. y Filiales [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | 12 | $ 6 | ||
Liquidity Risk [Member] | Bethia S.A. y Filiales [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Bethia S.A. y Filiales [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Bethia S.A. y Filiales [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | ||||
Liquidity Risk [Member] | Others [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Currency | US$ | |||
Nominal value | $ 17,407 | |||
Effective rate % | 0.00% | |||
Nominal rate % | 0.00% | |||
Liquidity Risk [Member] | Others [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | $ 5,656 | |||
Liquidity Risk [Member] | Others [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | 6,719 | |||
Liquidity Risk [Member] | Others [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | 18,603 | |||
Liquidity Risk [Member] | Others [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | 6,228 | |||
Liquidity Risk [Member] | Others [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | ||||
Liquidity Risk [Member] | Others [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | ||||
Liquidity Risk [Member] | CITIBANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | [2] | |
Creditor country | U.S.A. | U.S.A. | [2] | |
Currency | US$ | ThUS$ | [2] | |
Amortization | [2] | Quarterly | Quarterly | |
Nominal value | $ 285,891 | $ 370,389 | [2] | |
Effective rate % | 6.00% | 6.00% | [2] | |
Nominal rate % | 6.00% | 6.00% | [2] | |
Liquidity Risk [Member] | CITIBANK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | [2] | $ 25,802 | ||
Other loans | [2] | $ 25,783 | ||
Liquidity Risk [Member] | CITIBANK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | [2] | 77,795 | ||
Other loans | 77,810 | |||
Liquidity Risk [Member] | CITIBANK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | [2] | 413,939 | ||
Other loans | 310,342 | |||
Liquidity Risk [Member] | CITIBANK [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | [2] | 103,341 | ||
Other loans | 206,749 | |||
Liquidity Risk [Member] | CITIBANK [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | [2] | $ 207,001 | ||
Other loans | ||||
Liquidity Risk [Member] | CITIBANK [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Other loans | ||||
Liquidity Risk [Member] | SANTANDER [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.036.000-K | 97.036.000-K | ||
Creditor country | Chile | Chile | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 117,023 | $ 138,574 | ||
Effective rate % | 2.51% | 1.98% | ||
Nominal rate % | 1.96% | 1.44% | ||
Liquidity Risk [Member] | SANTANDER [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 6,049 | |||
Guaranteed obligations | $ 5,857 | |||
Liquidity Risk [Member] | SANTANDER [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 18,344 | |||
Guaranteed obligations | 17,697 | |||
Liquidity Risk [Member] | SANTANDER [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 124,163 | |||
Guaranteed obligations | 145,545 | |||
Liquidity Risk [Member] | SANTANDER [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 48,829 | |||
Guaranteed obligations | 47,519 | |||
Liquidity Risk [Member] | SANTANDER [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 47,785 | |||
Guaranteed obligations | 48,024 | |||
Liquidity Risk [Member] | SANTANDER [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 3,156 | |||
Guaranteed obligations | $ 26,448 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | |||
Creditor country | U.S.A. | |||
Currency | US$ | |||
Amortization | Quarterly | |||
Nominal value | $ 221,113 | |||
Effective rate % | 3.17% | |||
Nominal rate % | 2.67% | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 12,117 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 38,076 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 236,719 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 98,424 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 66,849 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 21,253 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 98,105 | $ 628,118 | ||
Effective rate % | 3.66% | 2.97% | ||
Nominal rate % | 3.25% | 2.96% | ||
Liquidity Risk [Member] | BNP PARIBAS [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 13,955 | |||
Guaranteed obligations | $ 13,805 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 35,567 | |||
Guaranteed obligations | 56,324 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 102,267 | |||
Guaranteed obligations | 731,166 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 50,433 | |||
Guaranteed obligations | 142,178 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 2,312 | |||
Guaranteed obligations | $ 141,965 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | ||||
Liquidity Risk [Member] | PEFCO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 67,783 | $ 130,811 | ||
Effective rate % | 5.46% | 5.39% | ||
Nominal rate % | 4.85% | 4.79% | ||
Liquidity Risk [Member] | PEFCO [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 13,354 | $ 17,558 | ||
Liquidity Risk [Member] | PEFCO [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 34,430 | 50,593 | ||
Liquidity Risk [Member] | PEFCO [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 70,995 | 139,145 | ||
Liquidity Risk [Member] | PEFCO [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 23,211 | 67,095 | ||
Liquidity Risk [Member] | PEFCO [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 3,899 | |||
Liquidity Risk [Member] | PEFCO [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | ||||
Liquidity Risk [Member] | CITIBANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 184,274 | $ 78,249 | ||
Effective rate % | 3.78% | 6.40% | ||
Nominal rate % | 3.17% | 5.67% | ||
Liquidity Risk [Member] | CITIBANK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 12,699 | $ 6,083 | ||
Liquidity Risk [Member] | CITIBANK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 38,248 | 18,250 | ||
Liquidity Risk [Member] | CITIBANK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 196,870 | 87,262 | ||
Liquidity Risk [Member] | CITIBANK [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 91,821 | 48,667 | ||
Liquidity Risk [Member] | CITIBANK [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 51,222 | $ 14,262 | ||
Liquidity Risk [Member] | CITIBANK [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 2,880 | |||
Liquidity Risk [Member] | ING [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 42,957 | $ 63,698 | ||
Effective rate % | 5.67% | 5.62% | ||
Nominal rate % | 5.00% | 4.96% | ||
Liquidity Risk [Member] | ING [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 5,890 | $ 5,889 | ||
Liquidity Risk [Member] | ING [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 12,076 | 17,671 | ||
Liquidity Risk [Member] | ING [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 46,200 | 69,761 | ||
Liquidity Risk [Member] | ING [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 28,234 | 34,067 | ||
Liquidity Risk [Member] | ING [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 12,134 | |||
Liquidity Risk [Member] | ING [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | ||||
Liquidity Risk [Member] | KFWIP EX-BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | Germany | Germany | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 26,888 | $ 36,191 | ||
Effective rate % | 3.31% | 2.55% | ||
Nominal rate % | 3.31% | 2.55% | ||
Liquidity Risk [Member] | KFWIP EX-BANK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 2,570 | $ 2,503 | ||
Liquidity Risk [Member] | KFWIP EX-BANK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 7,111 | 7,587 | ||
Liquidity Risk [Member] | KFWIP EX-BANK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 28,059 | 38,040 | ||
Liquidity Risk [Member] | KFWIP EX-BANK [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 16,709 | 18,772 | ||
Liquidity Risk [Member] | KFWIP EX-BANK [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 1,669 | $ 9,178 | ||
Liquidity Risk [Member] | KFWIP EX-BANK [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | ||||
Liquidity Risk [Member] | PK AirFinance [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Monthly | Monthly | ||
Nominal value | $ 46,500 | $ 54,787 | ||
Effective rate % | 3.18% | 2.40% | ||
Nominal rate % | 3.18% | 2.40% | ||
Liquidity Risk [Member] | PK AirFinance [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 2,375 | $ 2,265 | ||
Liquidity Risk [Member] | PK AirFinance [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 7,308 | 6,980 | ||
Liquidity Risk [Member] | PK AirFinance [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 48,599 | 57,844 | ||
Liquidity Risk [Member] | PK AirFinance [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 20,812 | 19,836 | ||
Liquidity Risk [Member] | PK AirFinance [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 18,104 | 25,610 | ||
Liquidity Risk [Member] | PK AirFinance [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 3,153 | |||
Liquidity Risk [Member] | NATIXIS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | France | France | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 413,011 | $ 422,851 | ||
Effective rate % | 3.42% | 2.60% | ||
Nominal rate % | 3.40% | 2.57% | ||
Liquidity Risk [Member] | NATIXIS [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 18,192 | $ 14,779 | ||
Liquidity Risk [Member] | NATIXIS [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 54,952 | 44,826 | ||
Liquidity Risk [Member] | NATIXIS [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 474,171 | 478,537 | ||
Liquidity Risk [Member] | NATIXIS [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 129,026 | 116,809 | ||
Liquidity Risk [Member] | NATIXIS [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 105,990 | 96,087 | ||
Liquidity Risk [Member] | NATIXIS [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 166,011 | $ 206,036 | ||
Liquidity Risk [Member] | DEUTSCHE BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 96,906 | $ 117,263 | ||
Effective rate % | 4.39% | 3.86% | ||
Nominal rate % | 4.39% | 3.86% | ||
Liquidity Risk [Member] | DEUTSCHE BANK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 4,043 | $ 6,147 | ||
Liquidity Risk [Member] | DEUTSCHE BANK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 12,340 | 18,599 | ||
Liquidity Risk [Member] | DEUTSCHE BANK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 114,211 | 136,416 | ||
Liquidity Risk [Member] | DEUTSCHE BANK [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 32,775 | 31,640 | ||
Liquidity Risk [Member] | DEUTSCHE BANK [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 32,613 | 31,833 | ||
Liquidity Risk [Member] | DEUTSCHE BANK [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 32,440 | $ 48,197 | ||
Liquidity Risk [Member] | US BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 472,833 | $ 532,608 | ||
Effective rate % | 4.00% | 3.99% | ||
Nominal rate % | 2.82% | 2.81% | ||
Liquidity Risk [Member] | US BANK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 18,485 | $ 18,563 | ||
Liquidity Risk [Member] | US BANK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 55,354 | 55,592 | ||
Liquidity Risk [Member] | US BANK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 524,148 | 598,304 | ||
Liquidity Risk [Member] | US BANK [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 146,709 | 147,357 | ||
Liquidity Risk [Member] | US BANK [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 145,364 | 146,045 | ||
Liquidity Risk [Member] | US BANK [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 158,236 | $ 230,747 | ||
Liquidity Risk [Member] | APPLE BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 37,223 | $ 42,754 | ||
Effective rate % | 2.78% | 2.29% | ||
Nominal rate % | 2.18% | 1.69% | ||
Liquidity Risk [Member] | APPLE BANK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 1,611 | $ 1,551 | ||
Liquidity Risk [Member] | APPLE BANK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 4,928 | 4,712 | ||
Liquidity Risk [Member] | APPLE BANK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 40,267 | 45,704 | ||
Liquidity Risk [Member] | APPLE BANK [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 13,163 | 12,693 | ||
Liquidity Risk [Member] | APPLE BANK [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 13,196 | 12,891 | ||
Liquidity Risk [Member] | APPLE BANK [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 7,369 | $ 13,857 | ||
Liquidity Risk [Member] | BTMU [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 74,734 | $ 85,990 | ||
Effective rate % | 2.87% | 2.31% | ||
Nominal rate % | 2.27% | 1.72% | ||
Liquidity Risk [Member] | BTMU [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 3,292 | $ 3,163 | ||
Liquidity Risk [Member] | BTMU [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 9,997 | 9,568 | ||
Liquidity Risk [Member] | BTMU [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 80,803 | 91,870 | ||
Liquidity Risk [Member] | BTMU [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 26,677 | 25,752 | ||
Liquidity Risk [Member] | BTMU [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 26,704 | 26,117 | ||
Liquidity Risk [Member] | BTMU [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 14,133 | $ 27,270 | ||
Liquidity Risk [Member] | CITIBANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 351,217 | $ 548,168 | ||
Effective rate % | 3.31% | 2.72% | ||
Nominal rate % | 2.47% | 1.96% | ||
Liquidity Risk [Member] | CITIBANK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 14,166 | $ 20,224 | ||
Liquidity Risk [Member] | CITIBANK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 42,815 | 61,020 | ||
Liquidity Risk [Member] | CITIBANK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 386,073 | 595,539 | ||
Liquidity Risk [Member] | CITIBANK [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 114,612 | 164,077 | ||
Liquidity Risk [Member] | CITIBANK [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 112,435 | 166,165 | ||
Liquidity Risk [Member] | CITIBANK [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 102,045 | $ 184,053 | ||
Liquidity Risk [Member] | WILMINGTON TRUST [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | |||
Creditor country | U.S.A. | |||
Currency | US$ | |||
Amortization | Quarterly | |||
Nominal value | $ 1,034,853 | |||
Effective rate % | 4.48% | |||
Nominal rate % | 4.48% | |||
Liquidity Risk [Member] | WILMINGTON TRUST [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 32,026 | |||
Liquidity Risk [Member] | WILMINGTON TRUST [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 95,042 | |||
Liquidity Risk [Member] | WILMINGTON TRUST [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 1,301,847 | |||
Liquidity Risk [Member] | WILMINGTON TRUST [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 253,469 | |||
Liquidity Risk [Member] | WILMINGTON TRUST [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 244,836 | |||
Liquidity Risk [Member] | WILMINGTON TRUST [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 676,474 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 808,987 | $ 1,056,345 | ||
Effective rate % | 2.46% | 2.37% | ||
Nominal rate % | 1.75% | 1.68% | ||
Liquidity Risk [Member] | WELLS FARGO [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 30,764 | $ 35,896 | ||
Liquidity Risk [Member] | WELLS FARGO [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 92,309 | 107,830 | ||
Liquidity Risk [Member] | WELLS FARGO [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 861,401 | 1,131,018 | ||
Liquidity Risk [Member] | WELLS FARGO [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 246,285 | 287,878 | ||
Liquidity Risk [Member] | WELLS FARGO [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 246,479 | 288,338 | ||
Liquidity Risk [Member] | WELLS FARGO [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 245,564 | $ 411,076 | ||
Liquidity Risk [Member] | CREDIT AGRICOLE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | France | France | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 98,091 | $ 138,417 | ||
Effective rate % | 2.66% | 2.21% | ||
Nominal rate % | 2.22% | 1.81% | ||
Liquidity Risk [Member] | CREDIT AGRICOLE [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 8,368 | $ 11,728 | ||
Liquidity Risk [Member] | CREDIT AGRICOLE [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 25,415 | 30,916 | ||
Liquidity Risk [Member] | CREDIT AGRICOLE [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 102,839 | 144,474 | ||
Liquidity Risk [Member] | CREDIT AGRICOLE [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 56,305 | $ 65,008 | ||
Liquidity Risk [Member] | CREDIT AGRICOLE [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 12,751 | |||
Liquidity Risk [Member] | CREDIT AGRICOLE [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | ||||
Liquidity Risk [Member] | ESTADO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.030.000-7 | |||
Creditor country | Chile | |||
Currency | UF | |||
Amortization | At Expiration | |||
Nominal value | $ 379,274 | |||
Effective rate % | 5.50% | |||
Nominal rate % | 5.50% | |||
Liquidity Risk [Member] | ESTADO [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | ||||
Liquidity Risk [Member] | ESTADO [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 20,860 | |||
Liquidity Risk [Member] | ESTADO [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 534,026 | |||
Liquidity Risk [Member] | ESTADO [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 41,720 | |||
Liquidity Risk [Member] | ESTADO [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 226,379 | |||
Liquidity Risk [Member] | ESTADO [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | $ 245,067 | |||
Liquidity Risk [Member] | BANK OF NEWYORK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | At Expiration | At Expiration | ||
Nominal value | $ 1,200,000 | $ 500,000 | ||
Effective rate % | 7.44% | 7.77% | ||
Nominal rate % | 7.03% | 7.25% | ||
Liquidity Risk [Member] | BANK OF NEWYORK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | ||||
Liquidity Risk [Member] | BANK OF NEWYORK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 84,375 | $ 36,250 | ||
Liquidity Risk [Member] | BANK OF NEWYORK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 1,603,438 | 626,875 | ||
Liquidity Risk [Member] | BANK OF NEWYORK [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 650,625 | 72,500 | ||
Liquidity Risk [Member] | BANK OF NEWYORK [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 96,250 | $ 518,125 | ||
Liquidity Risk [Member] | BANK OF NEWYORK [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | $ 772,188 | |||
Liquidity Risk [Member] | SANTANDER [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.036.000-K | 97.036.000-K | ||
Creditor country | Chile | Chile | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 202,284 | $ 158,194 | ||
Effective rate % | 4.41% | 3.55% | ||
Nominal rate % | 4.41% | 3.55% | ||
Liquidity Risk [Member] | SANTANDER [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | $ 2,040 | |||
Obligations with the public | $ 1,497 | |||
Liquidity Risk [Member] | SANTANDER [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 3,368 | |||
Liquidity Risk [Member] | SANTANDER [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 207,692 | |||
Obligations with the public | 166,361 | |||
Liquidity Risk [Member] | SANTANDER [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 202,284 | |||
Obligations with the public | $ 160,556 | |||
Liquidity Risk [Member] | SANTANDER [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | ||||
Liquidity Risk [Member] | SANTANDER [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | ||||
Liquidity Risk [Member] | BLADEX [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Semiannual | Semiannual | ||
Nominal value | $ 30,000 | |||
Effective rate % | 5.51% | |||
Nominal rate % | 5.51% | |||
Liquidity Risk [Member] | BLADEX [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | ||||
Liquidity Risk [Member] | BLADEX [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 16,465 | |||
Liquidity Risk [Member] | BLADEX [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 32,093 | |||
Liquidity Risk [Member] | BLADEX [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 15,628 | |||
Liquidity Risk [Member] | BLADEX [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | ||||
Liquidity Risk [Member] | BLADEX [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | ||||
Liquidity Risk [Member] | CORP BANCA [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.023.000-9 | 97.023.000-9 | ||
Creditor country | Chile | Chile | ||
Currency | UF | UF | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 84,664 | $ 153,355 | ||
Effective rate % | 3.68% | 4.06% | ||
Nominal rate % | 3.68% | 4.06% | ||
Liquidity Risk [Member] | CORP BANCA [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | $ 22,082 | |||
Obligations with the public | $ 20,808 | |||
Liquidity Risk [Member] | CORP BANCA [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 22,782 | |||
Obligations with the public | 61,112 | |||
Liquidity Risk [Member] | CORP BANCA [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 88,294 | |||
Obligations with the public | 161,637 | |||
Liquidity Risk [Member] | CORP BANCA [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 43,430 | |||
Obligations with the public | 63,188 | |||
Liquidity Risk [Member] | CORP BANCA [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | ||||
Obligations with the public | $ 16,529 | |||
Liquidity Risk [Member] | CORP BANCA [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | ||||
Liquidity Risk [Member] | HSBC [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.951.000-4 | 97.951.000-4 | ||
Creditor country | Chile | Chile | ||
Currency | US$ | ThUS$ | ||
Amortization | At Expiration | At Expiration | ||
Nominal value | $ 12,000 | $ 12,000 | ||
Effective rate % | 2.03% | 1.79% | ||
Nominal rate % | 2.03% | 1.79% | ||
Liquidity Risk [Member] | HSBC [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | $ 12,061 | $ 12,054 | ||
Liquidity Risk [Member] | HSBC [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | HSBC [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | 12,061 | $ 12,054 | ||
Liquidity Risk [Member] | HSBC [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | HSBC [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | HSBC [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BANCO DO BRASIL [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.003.000-K | 97.003.000-K | ||
Creditor country | Chile | Chile | ||
Currency | US$ | ThUS$ | ||
Amortization | At Expiration | At Expiration | ||
Nominal value | $ 100,000 | $ 70,000 | ||
Effective rate % | 2.40% | 3.08% | ||
Nominal rate % | 2.40% | 3.08% | ||
Liquidity Risk [Member] | BANCO DO BRASIL [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | $ 100,935 | $ 72,151 | ||
Liquidity Risk [Member] | BANCO DO BRASIL [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BANCO DO BRASIL [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | 100,935 | $ 72,151 | ||
Liquidity Risk [Member] | BANCO DO BRASIL [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BANCO DO BRASIL [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BANCO DO BRASIL [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | ESTADO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.030.000-7 | 97.030.000-7 | ||
Creditor country | Chile | Chile | ||
Currency | US$ | ThUS$ | ||
Amortization | At Expiration | At Expiration | ||
Nominal value | $ 40,000 | $ 40,000 | ||
Effective rate % | 2.57% | 1.91% | ||
Nominal rate % | 2.57% | 1.91% | ||
Liquidity Risk [Member] | ESTADO [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | $ 40,257 | $ 40,191 | ||
Liquidity Risk [Member] | ESTADO [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | ESTADO [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | 40,257 | $ 40,191 | ||
Liquidity Risk [Member] | ESTADO [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | ESTADO [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | ESTADO [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | SANTANDER [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.036.000-K | 97.036.000-K | ||
Creditor country | Chile | Chile | ||
Currency | US$ | ThUS$ | ||
Amortization | At Expiration | At Expiration | ||
Nominal value | $ 30,000 | $ 30,000 | ||
Effective rate % | 2.49% | 2.39% | ||
Nominal rate % | 2.49% | 2.39% | ||
Liquidity Risk [Member] | SANTANDER [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | $ 30,131 | $ 30,193 | ||
Liquidity Risk [Member] | SANTANDER [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | SANTANDER [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | 30,131 | $ 30,193 | ||
Liquidity Risk [Member] | SANTANDER [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | SANTANDER [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | SANTANDER [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BBVA [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.032.000-8 | 97.032.000-8 | ||
Creditor country | Chile | Chile | ||
Currency | UF | ThUS$ | ||
Amortization | At Expiration | At Expiration | ||
Nominal value | $ 55,801 | $ 75,000 | ||
Effective rate % | 3.57% | 1.85% | ||
Nominal rate % | 2.77% | 1.85% | ||
Liquidity Risk [Member] | BBVA [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | $ 75,212 | |||
Liquidity Risk [Member] | BBVA [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | 57,363 | |||
Liquidity Risk [Member] | BBVA [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | 57,363 | $ 75,212 | ||
Liquidity Risk [Member] | BBVA [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BBVA [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BBVA [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BBVA [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 97.032.000-8 | 97.032.000-8 | ||
Creditor country | Chile | Chile | ||
Currency | US$ | ThUS$ | ||
Amortization | At Expiration | At Expiration | ||
Nominal value | $ 75,000 | |||
Effective rate % | 2.30% | |||
Nominal rate % | 2.30% | |||
Liquidity Risk [Member] | BBVA [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | $ 75,863 | |||
Liquidity Risk [Member] | BBVA [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BBVA [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | 75,863 | |||
Liquidity Risk [Member] | BBVA [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BBVA [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | BBVA [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Loans to exporters | ||||
Liquidity Risk [Member] | Trans portes San Felipe S.A. [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 79.773.440-3 | |||
Creditor country | Chile | |||
Currency | CLP | |||
Nominal value | $ 4 | |||
Liquidity Risk [Member] | Trans portes San Felipe S.A. [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | 4 | |||
Liquidity Risk [Member] | Trans portes San Felipe S.A. [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | $ 4 | |||
Liquidity Risk [Member] | Comunidad Mujer [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 65.216.000-K | |||
Creditor country | Chile | |||
Currency | CLP | |||
Nominal value | $ 13 | |||
Liquidity Risk [Member] | Comunidad Mujer [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | 13 | |||
Liquidity Risk [Member] | Comunidad Mujer [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | $ 13 | |||
Liquidity Risk [Member] | TAM Aviacao Executiva e Taxi Aereo S.A. [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0 -E | |||
Creditor country | Brazil | |||
Currency | BRL | |||
Nominal value | $ 28 | |||
Liquidity Risk [Member] | TAM Aviacao Executiva e Taxi Aereo S.A. [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | 28 | |||
Liquidity Risk [Member] | TAM Aviacao Executiva e Taxi Aereo S.A. [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | $ 28 | |||
Liquidity Risk [Member] | Consultoria Consultoria Administrativa Profesional S.A. de C.V [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | Mexico | |||
Currency | MXN | |||
Nominal value | $ 170 | |||
Liquidity Risk [Member] | Consultoria Consultoria Administrativa Profesional S.A. de C.V [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | 170 | |||
Liquidity Risk [Member] | Consultoria Consultoria Administrativa Profesional S.A. de C.V [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Accounts payable to related parties currents | $ 170 | |||
Liquidity Risk [Member] | OTROS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Currency | ThUS$ | |||
Liquidity Risk [Member] | BOEING [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | U.S.A. | |||
Currency | ThUS$ | |||
Amortization | At Expiration | |||
Nominal value | $ 26,214 | |||
Effective rate % | 2.35% | |||
Nominal rate % | 2.35% | |||
Liquidity Risk [Member] | BOEING [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 163 | |||
Liquidity Risk [Member] | BOEING [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 320 | |||
Liquidity Risk [Member] | BOEING [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 26,697 | |||
Liquidity Risk [Member] | BOEING [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 26,214 | |||
Liquidity Risk [Member] | RRP F ENGINE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | England | England | ||
Currency | US$ | ThUS$ | ||
Amortization | Monthly | Monthly | ||
Nominal value | $ 25,983 | |||
Effective rate % | 4.01% | |||
Nominal rate % | 4.01% | |||
Liquidity Risk [Member] | RRP F ENGINE [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 370 | |||
Liquidity Risk [Member] | RRP F ENGINE [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 3,325 | |||
Liquidity Risk [Member] | RRP F ENGINE [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 30,684 | |||
Liquidity Risk [Member] | RRP F ENGINE [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 8,798 | |||
Liquidity Risk [Member] | RRP F ENGINE [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 8,692 | |||
Liquidity Risk [Member] | RRP F ENGINE [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 9,499 | |||
Liquidity Risk [Member] | DVB BANK SE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | U.S.A. | |||
Currency | ThUS$ | |||
Amortization | Quarterly | |||
Nominal value | $ 14,127 | |||
Effective rate % | 2.57% | |||
Nominal rate % | 2.57% | |||
Liquidity Risk [Member] | DVB BANK SE [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 4,773 | |||
Liquidity Risk [Member] | DVB BANK SE [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 9,541 | |||
Liquidity Risk [Member] | DVB BANK SE [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 14,314 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | U.S.A. | |||
Currency | ThUS$ | |||
Amortization | Quarterly | |||
Nominal value | $ 103,326 | |||
Effective rate % | 3.98% | |||
Nominal rate % | 3.54% | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 5,591 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 16,751 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 113,351 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 44,615 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 44,514 | |||
Liquidity Risk [Member] | WELLS FARGO [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 1,880 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Quarterly | Quarterly | ||
Nominal value | $ 575,221 | |||
Effective rate % | 3.41% | |||
Nominal rate % | 3.40% | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 14,498 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 59,863 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 681,597 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 148,469 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 145,315 | |||
Liquidity Risk [Member] | BNP PARIBAS [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 313,452 | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | France | |||
Currency | ThUS$ | |||
Amortization | Quarterly | |||
Nominal value | $ 7,157 | |||
Effective rate % | 1.85% | |||
Nominal rate % | 1.85% | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 1,788 | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 5,457 | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 7,245 | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | France | France | ||
Currency | US$ | ThUS$ | ||
Amortization | At Expiration | At Expiration | ||
Nominal value | $ 241,287 | |||
Effective rate % | 3.38% | |||
Nominal rate % | 3.38% | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Other guaranteed obligations | $ 1,757 | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Other guaranteed obligations | 5,843 | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Other guaranteed obligations | 254,526 | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Other guaranteed obligations | 246,926 | |||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Other guaranteed obligations | ||||
Liquidity Risk [Member] | CREDITAGRICOLE [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Other guaranteed obligations | ||||
Liquidity Risk [Member] | INVESTEC [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | England | England | ||
Currency | US$ | ThUS$ | ||
Amortization | Semiannual | Semiannual | ||
Nominal value | $ 63,378 | |||
Effective rate % | 6.04% | |||
Nominal rate % | 6.04% | |||
Liquidity Risk [Member] | INVESTEC [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 1,930 | |||
Liquidity Risk [Member] | INVESTEC [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 11,092 | |||
Liquidity Risk [Member] | INVESTEC [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 76,225 | |||
Liquidity Risk [Member] | INVESTEC [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 26,103 | |||
Liquidity Risk [Member] | INVESTEC [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 26,045 | |||
Liquidity Risk [Member] | INVESTEC [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 11,055 | |||
Liquidity Risk [Member] | AIRBUS FINANCIAL [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | U.S.A. | U.S.A. | ||
Currency | US$ | ThUS$ | ||
Amortization | Monthly | Monthly | ||
Nominal value | $ 22,925 | |||
Effective rate % | 3.19% | |||
Nominal rate % | 3.19% | |||
Liquidity Risk [Member] | AIRBUS FINANCIAL [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 2,033 | |||
Liquidity Risk [Member] | AIRBUS FINANCIAL [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 6,107 | |||
Liquidity Risk [Member] | AIRBUS FINANCIAL [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 24,071 | |||
Liquidity Risk [Member] | AIRBUS FINANCIAL [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 15,931 | |||
Liquidity Risk [Member] | AIRBUS FINANCIAL [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | ||||
Liquidity Risk [Member] | AIRBUS FINANCIAL [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | ||||
Liquidity Risk [Member] | Wilmington Trust Company [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | U.S.A. | |||
Currency | ThUS$ | |||
Amortization | Quarterly | |||
Nominal value | $ 967,336 | |||
Effective rate % | 4.25% | |||
Nominal rate % | 4.25% | |||
Liquidity Risk [Member] | Wilmington Trust Company [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 25,833 | |||
Liquidity Risk [Member] | Wilmington Trust Company [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 79,043 | |||
Liquidity Risk [Member] | Wilmington Trust Company [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 1,245,582 | |||
Liquidity Risk [Member] | Wilmington Trust Company [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 206,952 | |||
Liquidity Risk [Member] | Wilmington Trust Company [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | 200,674 | |||
Liquidity Risk [Member] | Wilmington Trust Company [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Guaranteed obligations | $ 733,080 | |||
Liquidity Risk [Member] | DVB BANK SE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | U.S.A. | |||
Currency | ThUS$ | |||
Amortization | Quarterly | |||
Nominal value | $ 28,911 | |||
Effective rate % | 1.86% | |||
Nominal rate % | 1.86% | |||
Liquidity Risk [Member] | DVB BANK SE [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | $ 145 | |||
Liquidity Risk [Member] | DVB BANK SE [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 199 | |||
Liquidity Risk [Member] | DVB BANK SE [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 29,255 | |||
Liquidity Risk [Member] | DVB BANK SE [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 28,911 | |||
Liquidity Risk [Member] | OTHERS [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | 7,364 | |||
Liquidity Risk [Member] | OTHERS [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | 15,479 | |||
Liquidity Risk [Member] | OTHERS [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | 30,689 | |||
Liquidity Risk [Member] | OTHERS [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Hedging derivatives | 7,846 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 1,452,885 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 26,753 | |||
Total consolidated | 17,191 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 615,058 | |||
Total consolidated | 43,053 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 1,696,521 | |||
Total consolidated | 371,384 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 221,084 | |||
Total consolidated | 235,818 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | 791,738 | |||
Total consolidated | 75,322 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Nominal value | $ 41,888 | |||
Total consolidated | ||||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETE GENERALE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | France | France | ||
Currency | BRL | BRL | ||
Amortization | Monthly | Mensual | ||
Nominal value | $ 109 | |||
Effective rate % | 6.89% | 13.63% | ||
Nominal rate % | 6.89% | 13.63% | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETE GENERALE [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 161 | $ 146 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETE GENERALE [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 12 | 465 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETE GENERALE [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 173 | 787 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETE GENERALE [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 176 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETE GENERALE [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | ||||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETE GENERALE [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | ||||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | BANCO IBMS .A [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | Brazil | Brazil | ||
Currency | BRL | BRL | ||
Amortization | Monthly | Mensual | ||
Nominal value | $ 21 | |||
Effective rate % | 6.89% | 13.63% | ||
Nominal rate % | 6.89% | 13.63% | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | BANCO IBMS .A [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 34 | $ 380 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | BANCO IBMS .A [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 1,161 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | BANCO IBMS .A [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 34 | 1,576 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | BANCO IBMS .A [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 35 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | BANCO IBMS .A [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | ||||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | BANCO IBMS .A [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | ||||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETEGENERALE MILAN BRANCH [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | Italy | Italy | ||
Currency | US$ | US $ | ||
Amortization | Quarterly | Trimestral | ||
Nominal value | $ 244,513 | |||
Effective rate % | 4.87% | 4.18% | ||
Nominal rate % | 4.81% | 4.11% | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETEGENERALE MILAN BRANCH [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 11,735 | $ 11,875 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETEGENERALE MILAN BRANCH [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 32,230 | 32,116 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETEGENERALE MILAN BRANCH [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 248,801 | 301,539 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETEGENERALE MILAN BRANCH [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 204,836 | 85,995 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETEGENERALE MILAN BRANCH [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 171,553 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | SOCIETEGENERALE MILAN BRANCH [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | ||||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | WACAPOULEASING S.A. [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | Luxemburg | Luxemburg | ||
Currency | US$ | US $ | ||
Amortization | Quarterly | Trimestral | ||
Nominal value | $ 12,047 | |||
Effective rate % | 3.69% | 3.00% | ||
Nominal rate % | 3.69% | 3.00% | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | WACAPOULEASING S.A. [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 837 | $ 833 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | WACAPOULEASING S.A. [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 2,411 | 2,385 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | WACAPOULEASING S.A. [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 13,034 | 16,217 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | WACAPOULEASING S.A. [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 6,509 | 6,457 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | WACAPOULEASING S.A. [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 3,277 | $ 6,542 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | WACAPOULEASING S.A. [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | ||||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NATIXIS [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | 0-E | ||
Creditor country | France | France | ||
Currency | US$ | US $ | ||
Amortization | Quarterly/Semiannual | Trimestral/Semestral | ||
Nominal value | $ 99,036 | |||
Effective rate % | 5.59% | 4.90% | ||
Nominal rate % | 5.59% | 4.90% | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NATIXIS [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 4,248 | $ 4,290 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NATIXIS [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 7,903 | 7,837 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NATIXIS [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 106,615 | 117,763 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NATIXIS [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 23,141 | 22,834 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NATIXIS [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 71,323 | 40,968 | ||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NATIXIS [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 41,834 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | Holland | |||
Currency | US$ | |||
Amortization | Monthly | |||
Nominal value | $ 2,382 | |||
Effective rate % | 6.01% | |||
Nominal rate % | 6.01% | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | $ 176 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 497 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 2,727 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 1,332 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 722 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | ||||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | HP FINANCIAL SERVICE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | Brazil | |||
Currency | BRL | |||
Amortization | Mensual | |||
Effective rate % | 10.02% | |||
Nominal rate % | 10.02% | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | HP FINANCIAL SERVICE [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 225 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | HP FINANCIAL SERVICE [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 225 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | KFW IPEX BANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | Alemania | |||
Currency | US $ | |||
Amortization | Mensual/Trimestral | |||
Effective rate % | 2.80% | |||
Nominal rate % | 2.80% | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | KFW IPEX BANK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 592 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | KFW IPEX BANK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 1,552 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | KFW IPEX BANK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 2,144 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | GENERAL ELECTRIC CAPITAL CORPORATION [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | E.E.U.U. | |||
Currency | US $ | |||
Amortization | Mensual | |||
Effective rate % | 2.30% | |||
Nominal rate % | 2.30% | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 3,852 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | GENERAL ELECTRIC CAPITAL CORPORATION [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 5,098 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 8,950 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | DVB BANK SE [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | E.E.U.U. | |||
Currency | US $ | |||
Amortization | Mensual | |||
Effective rate % | 2.50% | |||
Nominal rate % | 2.50% | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | DVB BANK SE [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 120 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | DVB BANK SE [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 165 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | DVB BANK SE [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 285 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | AFS INVESTMENT IX [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | E.E.U.U. | |||
Currency | US $ | |||
Amortization | Mensual | |||
Effective rate % | 1.25% | |||
Nominal rate % | 1.25% | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | AFS INVESTMENT IX [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 2,733 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | AFS INVESTMENT IX [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 7,698 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | AFS INVESTMENT IX [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 39,501 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | AFS INVESTMENT IX [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | 20,522 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | AFS INVESTMENT IX [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Financial leases | $ 8,548 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | THE BANK OF NEWYORK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | E.E.U.U.. | |||
Currency | US $ | |||
Amortization | Al Vencimiento | |||
Effective rate % | 8.17% | |||
Nominal rate % | 8.00% | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | THE BANK OF NEWYORK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | $ 352,938 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | THE BANK OF NEWYORK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 999,501 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | THE BANK OF NEWYORK [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | 83,750 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | THE BANK OF NEWYORK [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Obligations with the public | $ 562,813 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | CITIBANK [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | E.E.U.U. | |||
Currency | US $ | |||
Amortization | Al Vencimiento | |||
Effective rate % | 3.39% | |||
Nominal rate % | 3.14% | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | CITIBANK [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | $ 1,528 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | CITIBANK [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 203,150 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | CITIBANK [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | $ 204,678 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Tax No. | 0-E | |||
Creditor country | Holanda | |||
Currency | US $ | |||
Amortization | Mensual | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Effective rate % | 6.01% | |||
Nominal rate % | 6.01% | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | Up to 90 days [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | $ 179 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | More than 90 days to one year [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 493 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | Total [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 3,355 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | More than one to three years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 1,315 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | More than three to five years [Member] | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | 1,314 | |||
Liquidity Risk [Member] | TAM S.A. and Subsidiaries [Member] | NEDERLANDSCHE CREDIETVERZEKERING MAATSCHAPPIJ [Member] | Over five years | ||||
Disclosure of risk management strategy related to hedge accounting [line items] | ||||
Bank loans | $ 54 | |||
[1] | The Equity reported corresponds to Equity attributable to owners of the parent, it does not include Non-controlling interest. | |||
[2] | Securitized bond with the future flows from the sales with credit card in United States and Canada. |
FINANCIAL RISK MANAGEMENT (De88
FINANCIAL RISK MANAGEMENT (Details 5) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Other financial assets, current | $ 3,745,499 | $ 3,626,775 |
Other financial assets, not current | 15,052,473 | 15,571,419 |
Liabilities | ||
Other financial liabilities , current | 8,688,022 | 8,790,699 |
Other financial liabilities, non current | 5,842,714 | 6,222,191 |
Level 1 [Member] | Other Financial Liabilities , Current [Member] | ||
Liabilities | ||
Other financial liabilities , current | ||
Level 1 [Member] | Interest Accrued Since The Last Payment Date Of Currency Swap [Member] | ||
Liabilities | ||
Other financial liabilities , current | ||
Level 1 [Member] | Other Financial Liabilities, Non Current [Member] | ||
Liabilities | ||
Other financial liabilities, non current | ||
Level 2 [Member] | Other Financial Liabilities , Current [Member] | ||
Liabilities | ||
Other financial liabilities , current | 12,200 | 24,881 |
Level 2 [Member] | Interest Accrued Since The Last Payment Date Of Currency Swap [Member] | ||
Liabilities | ||
Other financial liabilities , current | 1,189 | 2,147 |
Level 2 [Member] | Other Financial Liabilities, Non Current [Member] | ||
Liabilities | ||
Other financial liabilities, non current | 2,617 | 6,679 |
Level 3 [Member] | Other Financial Liabilities , Current [Member] | ||
Liabilities | ||
Other financial liabilities , current | ||
Level 3 [Member] | Interest Accrued Since The Last Payment Date Of Currency Swap [Member] | ||
Liabilities | ||
Other financial liabilities , current | ||
Level 3 [Member] | Other Financial Liabilities, Non Current [Member] | ||
Liabilities | ||
Other financial liabilities, non current | ||
Fuel Derivative [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, current | ||
Fuel Derivative [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, current | 10,711 | 10,088 |
Fuel Derivative [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, current | ||
Fair Value Of Foreign Currency Derivatives [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, current | ||
Other financial assets, not current | ||
Fair Value Of Foreign Currency Derivatives [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, current | 48,322 | 1,259 |
Other financial assets, not current | 519 | |
Fair Value Of Foreign Currency Derivatives [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, current | ||
Other financial assets, not current | ||
Fair Value Of Interest Rate Derivatives [Member] | Level 1 [Member] | ||
Liabilities | ||
Other financial liabilities , current | ||
Other financial liabilities, non current | ||
Fair Value Of Interest Rate Derivatives [Member] | Level 2 [Member] | ||
Liabilities | ||
Other financial liabilities , current | 8,919 | 9,579 |
Other financial liabilities, non current | 8,919 | 6,679 |
Fair Value Of Interest Rate Derivatives [Member] | Level 3 [Member] | ||
Liabilities | ||
Other financial liabilities , current | ||
Other financial liabilities, non current | ||
Fair Value Of Foreign Currency Derivatives [Member] | Level 1 [Member] | ||
Liabilities | ||
Other financial liabilities , current | ||
Fair Value Of Foreign Currency Derivatives [Member] | Level 2 [Member] | ||
Liabilities | ||
Other financial liabilities , current | 2,092 | 13,155 |
Fair Value Of Foreign Currency Derivatives [Member] | Level 3 [Member] | ||
Liabilities | ||
Other financial liabilities , current | ||
Fair Value Derived Interest Rate [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, current | ||
Fair Value Derived Interest Rate [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, current | 3,113 | |
Fair Value Derived Interest Rate [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, current | ||
Cash And Cash Equivalents [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, current | 29,658 | 15,522 |
Cash And Cash Equivalents [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, current | ||
Cash And Cash Equivalents [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, current | ||
Short-Term Mutual Funds [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, current | 29,658 | 15,522 |
Short-Term Mutual Funds [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, current | ||
Short-Term Mutual Funds [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, current | ||
Other Financial Assets, Current [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, current | 473,653 | 536,991 |
Other Financial Assets, Current [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, current | 62,348 | 11,411 |
Other Financial Assets, Current [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, current | ||
Interest Accrued Since The Last Payment Date Of Cross Currency Swap [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, current | ||
Interest Accrued Since The Last Payment Date Of Cross Currency Swap [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, current | 202 | 64 |
Interest Accrued Since The Last Payment Date Of Cross Currency Swap [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, current | ||
Private Investment Funds [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, current | 472,232 | 536,991 |
Private Investment Funds [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, current | ||
Private Investment Funds [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, current | ||
Domestic And Foreign Bonds [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, current | 1,421 | |
Domestic And Foreign Bonds [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, current | ||
Domestic And Foreign Bonds [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, current | ||
Other Financial Assets, Not Current [Member] | Level 1 [Member] | ||
Assets | ||
Other financial assets, not current | ||
Other Financial Assets, Not Current [Member] | Level 2 [Member] | ||
Assets | ||
Other financial assets, not current | 519 | |
Other Financial Assets, Not Current [Member] | Level 3 [Member] | ||
Assets | ||
Other financial assets, not current | ||
Fair Value [Member] | Other Financial Liabilities , Current [Member] | ||
Liabilities | ||
Other financial liabilities , current | 12,200 | 24,881 |
Fair Value [Member] | Interest Accrued Since The Last Payment Date Of Currency Swap [Member] | ||
Liabilities | ||
Other financial liabilities , current | 1,189 | 2,147 |
Fair Value [Member] | Other Financial Liabilities, Non Current [Member] | ||
Liabilities | ||
Other financial liabilities, non current | 2,617 | 6,679 |
Fair Value [Member] | Fuel Derivative [Member] | ||
Assets | ||
Other financial assets, current | 10,711 | 10,088 |
Fair Value [Member] | Fair Value Of Foreign Currency Derivatives [Member] | ||
Assets | ||
Other financial assets, current | 48,322 | 1,259 |
Other financial assets, not current | 519 | |
Fair Value [Member] | Fair Value Of Interest Rate Derivatives [Member] | ||
Liabilities | ||
Other financial liabilities , current | 8,919 | 9,579 |
Other financial liabilities, non current | 8,919 | 6,679 |
Fair Value [Member] | Fair Value Of Foreign Currency Derivatives [Member] | ||
Liabilities | ||
Other financial liabilities , current | 2,092 | 13,155 |
Fair Value [Member] | Fair Value Derived Interest Rate [Member] | ||
Assets | ||
Other financial assets, current | 3,113 | |
Fair Value [Member] | Cash And Cash Equivalents [Member] | ||
Assets | ||
Other financial assets, current | 29,658 | 15,522 |
Fair Value [Member] | Short-Term Mutual Funds [Member] | ||
Assets | ||
Other financial assets, current | 29,658 | 15,522 |
Fair Value [Member] | Other Financial Assets, Current [Member] | ||
Assets | ||
Other financial assets, current | 536,001 | 548,402 |
Fair Value [Member] | Interest Accrued Since The Last Payment Date Of Cross Currency Swap [Member] | ||
Assets | ||
Other financial assets, current | 202 | 64 |
Fair Value [Member] | Private Investment Funds [Member] | ||
Assets | ||
Other financial assets, current | 472,232 | 536,991 |
Fair Value [Member] | Domestic And Foreign Bonds [Member] | ||
Assets | ||
Other financial assets, current | 1,421 | |
Fair Value [Member] | Other Financial Assets, Not Current [Member] | ||
Assets | ||
Other financial assets, not current | $ 519 |
FINANCIAL RISK MANAGEMENT (De89
FINANCIAL RISK MANAGEMENT (Details 6) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure of fair value measurement of assets [line items] | ||||
Cash and cash equivalents | $ 1,142,004 | $ 949,327 | $ 753,497 | $ 989,396 |
Cash on hand | 8,562 | 8,630 | ||
Bank balance | 330,430 | 255,746 | ||
Overnight | 239,292 | 295,060 | ||
Other financial assets, current | 559,919 | 712,828 | ||
Other financial assets | 221,188 | 212,242 | ||
Trade debtors, other accounts receivable and Current accounts receivable | 1,214,050 | 1,107,889 | ||
Accounts receivable from entities related, current | 1,175,796 | 1,022,933 | ||
Other financial assets | 88,090 | 102,125 | ||
Other current financial liabilities | 1,300,949 | 1,839,528 | ||
Accounts payable for trade and other accounts payable, current | 1,695,202 | 1,593,068 | ||
Accounts payable to entities related, current | 760 | 269 | ||
Other financial liabilities, not current | 6,605,508 | 6,796,952 | ||
Accounts payable, not current | 498,832 | 359,391 | ||
Fair Value [Member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Cash and cash equivalents | 1,112,346 | 933,805 | ||
Cash on hand | 8,562 | 8,630 | ||
Bank balance | 330,430 | 255,746 | ||
Overnight | 239,292 | 295,060 | ||
Time deposits | 534,062 | 374,369 | ||
Other financial assets, current | 23,918 | 164,426 | ||
Other financial assets | 23,918 | 164,426 | ||
Trade debtors, other accounts receivable and Current accounts receivable | 1,214,050 | 1,107,889 | ||
Accounts receivable from entities related, current | 2,582 | 554 | ||
Other financial assets | 87,571 | 102,125 | ||
Accounts receivable, non-current | 6,891 | 8,254 | ||
Other current financial liabilities | 1,288,749 | 1,814,647 | ||
Accounts payable for trade and other accounts payable, current | 1,695,202 | 1,593,068 | ||
Accounts payable to entities related, current | 760 | 269 | ||
Other financial liabilities, not current | 6,602,891 | 6,790,273 | ||
Accounts payable, not current | 498,832 | 359,391 | ||
Book Value [Member] | ||||
Disclosure of fair value measurement of assets [line items] | ||||
Cash and cash equivalents | 1,112,346 | 933,805 | ||
Cash on hand | 8,562 | 8,630 | ||
Bank balance | 330,430 | 255,746 | ||
Overnight | 239,292 | 295,060 | ||
Time deposits | 534,062 | 374,369 | ||
Other financial assets, current | 23,918 | 164,426 | ||
Other financial assets | 23,918 | 164,426 | ||
Trade debtors, other accounts receivable and Current accounts receivable | 1,214,050 | 1,107,889 | ||
Accounts receivable from entities related, current | 2,582 | 554 | ||
Other financial assets | 87,571 | 102,125 | ||
Accounts receivable, non-current | 6,891 | 8,254 | ||
Other current financial liabilities | 1,499,495 | 2,022,290 | ||
Accounts payable for trade and other accounts payable, current | 1,695,202 | 1,593,068 | ||
Accounts payable to entities related, current | 760 | 269 | ||
Other financial liabilities, not current | 6,738,872 | 6,970,375 | ||
Accounts payable, not current | $ 498,832 | $ 359,391 |
FINANCIAL RISK MANAGEMENT (De90
FINANCIAL RISK MANAGEMENT (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Recognized gains (losses) | $ 6,200 | |
Vertical fall in cost of total fuel consumption | 109,700 | |
Vertical rise in cost of total fuel consumption | 110,500 | |
Currency swap contract [member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Market value | 30,600 | |
Currency swap contract [member] | CLF | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Notional amount | 8,700 | |
Fuel-Price Risk [Member] | Fuel Derivative [Member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Recognized gains (losses) | 15,100 | $ 48,000 |
Market value | 10,700 | 8,100 |
Foreign Exchange Rate Risk [Member] | Foreign Forward Instrument [Member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Recognized gains (losses) | 700 | 40,300 |
Market value | 1,100 | |
Derivatives to BRL | $ 180,000 | 60,000 |
Derivatives to GBP | $ 10,000 | |
Interest Rate Risk [Member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Percentage of fixed to fluctuations in interest rate | 63.00% | 63.00% |
Interest Rate Risk [Member] | Interest Rate Derivative Contracts [Member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Market value | $ 6,600 | $ 17,200 |
Liquidity Risk [Member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Liquid funds balance | 1,614,000 | 1,486,000 |
Undrawn committed credit line | 450,000 | 325,000 |
Derivative margin guarantees for cash and stand-by letters of credit | $ 16,400 | $ 30,200 |
ACCOUNTING ESTIMATES AND JUDG91
ACCOUNTING ESTIMATES AND JUDGMENTS (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Airport Slots [Member] | Air Transport CGU [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets with indefinite useful life | $ 964,513 | $ 978,849 |
Airport Slots [Member] | Coalition and Loyalty Program Multiplus CGU [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets with indefinite useful life | ||
Loyalty Program [Member] | Air Transport CGU [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets with indefinite useful life | ||
Loyalty Program [Member] | Coalition and Loyalty Program Multiplus CGU [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets with indefinite useful life | $ 321,440 | $ 326,262 |
ACCOUNTING ESTIMATES AND JUDG92
ACCOUNTING ESTIMATES AND JUDGMENTS (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill | $ 2,672,550 | $ 2,710,382 | $ 2,280,575 | $ 3,313,401 |
Deferred tax assets | 364,021 | 384,580 | ||
Recognize deferred tax assets for tax losses | (45,991) | (73,814) | 270,904 | |
Deferred revenue | $ 1,550,447 | 1,535,229 | ||
Description of change in ticket usage | An hypothetical change of 1% in passenger behavior regarding to the ticket usage,—that is, if during the next six months after sells probability of used were 89% rather than 90%, as we consider, it would lead to a change in the expiry period from six to seven months, which, as of December 31, 2016, would have an impact of up to ThUS$ 20,000. | |||
Impact of fair value of unused kilometers | $ 8,000 | 8,400 | ||
Air Transport CGU [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill | 2,146,692 | 2,176,634 | 1,835,088 | 2,658,503 |
Coalition and Loyalty Program Multiplus CGU [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Goodwill | 525,858 | 533,748 | $ 445,487 | $ 654,898 |
Airport Slots [Member] | Air Transport CGU [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Intangible assets with indefinite useful life | 964,513 | 978,849 | ||
Airport Slots [Member] | Coalition and Loyalty Program Multiplus CGU [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Intangible assets with indefinite useful life | ||||
LATAM Fidelidade and Multiplus Loyalty Program [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Deferred revenue | 364,866 | 392,107 | ||
Probable change in deferred revenue | 16,700 | 14,639 | ||
Loyalty Program [Member] | Air Transport CGU [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Intangible assets with indefinite useful life | ||||
Loyalty Program [Member] | Coalition and Loyalty Program Multiplus CGU [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Intangible assets with indefinite useful life | 321,440 | 326,262 | ||
LATAM Pass Loyalty Program [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Deferred revenue | 853,505 | 896,190 | ||
Probable change in deferred revenue | $ 25,000 | $ 30,632 | ||
Trade Marks [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Estimated useful life of brands from indefinite useful life | 5 years |
SEGMENTAL INFORMATION (Details)
SEGMENTAL INFORMATION (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | $ 9,613,907 | $ 8,988,340 | $ 9,740,045 | ||
Other operating income | 549,889 | 538,748 | 385,781 | ||
Depreciation and amortization | 1,001,625 | 960,328 | 934,406 | ||
Result of indexation units | (748) | (311) | (481) | ||
Income (loss) atributable to owners of the parents | 155,304 | 69,220 | (219,274) | ||
Expenses for income tax | 173,504 | 163,204 | (178,383) | ||
Net income (loss) for the year | 200,714 | 110,670 | (178,732) | ||
Assets of segment | 18,797,972 | 19,198,194 | |||
Segment liabilities | 14,530,736 | 15,012,890 | |||
Property, plant and equipment | 10,065,335 | 10,498,149 | 10,938,657 | $ 10,773,076 | |
Intangibles other than goodwill | 1,617,247 | 1,610,313 | 1,321,425 | $ 1,880,079 | |
LAN Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | 4,313,287 | 4,104,348 | 4,241,918 | ||
TAM Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | 4,181,190 | 3,773,367 | 4,168,696 | ||
Freight [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | 1,119,430 | 1,110,625 | 1,329,431 | ||
Air Transportation [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [1] | 9,159,031 | 8,587,772 | 9,278,041 | |
Income from ordinary activities from transactions with other operating segments | 454,876 | 400,568 | 462,004 | ||
Other operating income | 308,937 | 364,551 | 230,823 | ||
Interest income | 28,184 | 27,287 | 21,818 | ||
Interest expense | (393,286) | (427,054) | (423,742) | ||
Total net interest expense | (365,102) | (399,767) | (401,924) | ||
Depreciation and amortization | (994,416) | (952,285) | (923,311) | ||
Material non-cash items other than depreciation and amortization | (75,479) | 10,069 | (507,921) | ||
Disposal of fixed assets and inventory losses | (39,238) | (82,734) | (20,932) | ||
Doubtful accounts | (18,272) | (29,674) | (18,292) | ||
Exchange differences | (18,717) | 122,129 | (469,178) | ||
Result of indexation units | 748 | 348 | 481 | ||
Income (loss) atributable to owners of the parents | (3,482) | (83,653) | (356,039) | ||
Participation of the entity in the income of associates | 37 | ||||
Expenses for income tax | (104,376) | (92,476) | 249,090 | ||
Net income (loss) for the year | 41,931 | (42,203) | (315,497) | ||
Assets of segment | 17,430,937 | 17,805,749 | 16,924,200 | ||
Segment liabilities | 14,007,916 | 14,469,505 | 14,700,072 | ||
Amount of non-current asset additions | 412,846 | 1,481,090 | 1,492,281 | ||
Property, plant and equipment | 325,513 | 1,390,730 | 1,439,057 | ||
Intangibles other than goodwill | 87,333 | 90,360 | 53,224 | ||
Purchase of non-monetary assets of segment | 490,983 | 782,957 | 1,622,198 | ||
Air Transportation [Member] | LAN Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | 4,313,287 | 4,104,348 | 4,241,918 | |
Air Transportation [Member] | TAM Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | 3,726,314 | 3,372,799 | 3,706,692 | |
Air Transportation [Member] | Freight [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | 1,119,430 | 1,110,625 | 1,329,431 | |
Coalition And Loyalty Program Multiplus [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [1] | 454,876 | 400,568 | 462,004 | |
Income from ordinary activities from transactions with other operating segments | 67,554 | 65,969 | 67,826 | ||
Other operating income | 240,952 | 174,197 | 154,958 | ||
Interest income | 50,511 | 58,380 | 63,647 | ||
Interest expense | |||||
Total net interest expense | 50,511 | 58,380 | 63,647 | ||
Depreciation and amortization | (7,209) | (8,043) | (11,095) | ||
Material non-cash items other than depreciation and amortization | (145) | (991) | 1,893 | ||
Disposal of fixed assets and inventory losses | |||||
Doubtful accounts | (144) | (476) | 611 | ||
Exchange differences | (1) | (478) | 1,282 | ||
Result of indexation units | (37) | ||||
Income (loss) atributable to owners of the parents | 158,783 | 152,873 | 136,765 | ||
Participation of the entity in the income of associates | |||||
Expenses for income tax | (69,128) | (70,728) | (70,707) | ||
Net income (loss) for the year | 158,783 | 152,873 | 136,765 | ||
Assets of segment | 1,373,049 | 1,400,432 | 1,182,111 | ||
Segment liabilities | 563,849 | 572,065 | 490,076 | ||
Amount of non-current asset additions | |||||
Property, plant and equipment | |||||
Intangibles other than goodwill | |||||
Purchase of non-monetary assets of segment | |||||
Coalition And Loyalty Program Multiplus [Member] | LAN Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | ||||
Coalition And Loyalty Program Multiplus [Member] | TAM Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | 454,876 | 400,568 | 462,004 | |
Coalition And Loyalty Program Multiplus [Member] | Freight [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | ||||
Eliminations [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [1] | ||||
Income from ordinary activities from transactions with other operating segments | (522,430) | (466,537) | (529,830) | ||
Other operating income | |||||
Interest income | (10,718) | (10,385) | |||
Interest expense | 10,718 | 10,385 | |||
Total net interest expense | |||||
Depreciation and amortization | |||||
Material non-cash items other than depreciation and amortization | |||||
Disposal of fixed assets and inventory losses | |||||
Doubtful accounts | |||||
Exchange differences | |||||
Result of indexation units | |||||
Income (loss) atributable to owners of the parents | |||||
Participation of the entity in the income of associates | |||||
Expenses for income tax | |||||
Net income (loss) for the year | |||||
Assets of segment | (6,014) | (7,987) | (4,893) | ||
Segment liabilities | (41,029) | (28,680) | (26,278) | ||
Amount of non-current asset additions | |||||
Property, plant and equipment | |||||
Intangibles other than goodwill | |||||
Purchase of non-monetary assets of segment | |||||
Eliminations [Member] | LAN Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | ||||
Eliminations [Member] | TAM Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | ||||
Eliminations [Member] | Freight [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | ||||
Operating Segments [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [1] | 9,613,907 | 8,988,340 | 9,740,045 | |
Income from ordinary activities from transactions with other operating segments | |||||
Other operating income | 549,889 | 538,748 | 385,781 | ||
Interest income | 78,695 | 74,949 | 75,080 | ||
Interest expense | (393,286) | (416,336) | (413,357) | ||
Total net interest expense | (314,591) | (341,387) | (338,277) | ||
Depreciation and amortization | (1,001,625) | (960,328) | (934,406) | ||
Material non-cash items other than depreciation and amortization | (75,624) | 9,078 | (506,028) | ||
Disposal of fixed assets and inventory losses | (39,238) | (82,734) | (20,932) | ||
Doubtful accounts | (18,416) | (30,150) | (17,681) | ||
Exchange differences | (18,718) | 121,651 | (467,896) | ||
Result of indexation units | 748 | 311 | 481 | ||
Income (loss) atributable to owners of the parents | 155,301 | 69,220 | (219,274) | ||
Participation of the entity in the income of associates | 37 | ||||
Expenses for income tax | (173,504) | (163,204) | 178,383 | ||
Net income (loss) for the year | 200,714 | 110,670 | (178,732) | ||
Assets of segment | 18,797,972 | 19,198,194 | 18,101,418 | ||
Segment liabilities | 14,530,736 | 15,012,890 | 15,163,870 | ||
Amount of non-current asset additions | 412,846 | 1,481,090 | 1,492,281 | ||
Property, plant and equipment | 325,513 | 1,390,730 | 1,439,057 | ||
Intangibles other than goodwill | 87,333 | 90,360 | 53,224 | ||
Purchase of non-monetary assets of segment | 490,983 | 782,957 | 1,622,198 | ||
Operating Segments [Member] | LAN Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | 4,313,287 | 4,104,348 | 4,241,918 | |
Operating Segments [Member] | TAM Passenger [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | 4,181,190 | 3,773,367 | 4,168,696 | |
Operating Segments [Member] | Freight [Member] | |||||
Disclosure of operating segments [line items] | |||||
Income from ordinary activities from external customers | [2] | $ 1,119,430 | $ 1,110,625 | $ 1,329,431 | |
[1] | The Company does not have any interest revenue that should be recognized as income from ordinary activities by interest. | ||||
[2] | The value presented as initial designation as fair value through profit and loss, corresponds mainly to private investment funds; and loans and receivables corresponds to guarantees given. |
SEGMENTAL INFORMATION (Details
SEGMENTAL INFORMATION (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net cash flows from | |||
Purchases of property, plant and equipment | $ (403,666) | $ (694,370) | $ (1,569,749) |
Purchases of intangible assets | (87,318) | (88,587) | (52,449) |
Net cash flows from (used in) operating activities | 1,666,740 | 980,884 | 1,672,101 |
Net cash flow from (used in) investing activities | (287,422) | (431,789) | (1,695,695) |
Net cash flows from (used in) financing activities | (1,179,088) | (396,279) | (128,360) |
Air Transportation [Member] | |||
Net cash flows from | |||
Purchases of property, plant and equipment | 403,282 | 693,581 | 691,930 |
Additions associated with maintenance | 218,537 | 197,866 | 230,526 |
Other additions | 184,745 | 495,715 | 461,404 |
Purchases of intangible assets | 79,102 | 84,377 | 41,399 |
Net cash flows from (used in) operating activities | 1,489,797 | 827,108 | 1,531,395 |
Net cash flow from (used in) investing activities | (278,790) | (426,989) | (1,679,272) |
Net cash flows from (used in) financing activities | (1,010,705) | (246,907) | (4,708) |
Coalition And Loyalty Program Multiplus [Member] | |||
Net cash flows from | |||
Purchases of property, plant and equipment | 384 | 789 | 2,440 |
Additions associated with maintenance | |||
Other additions | 384 | 789 | 2,440 |
Purchases of intangible assets | 8,216 | 4,210 | 11,050 |
Net cash flows from (used in) operating activities | 186,367 | 154,411 | 147,348 |
Net cash flow from (used in) investing activities | (8,632) | (4,800) | (16,423) |
Net cash flows from (used in) financing activities | (168,383) | (149,372) | (123,652) |
Eliminations [Member] | |||
Net cash flows from | |||
Purchases of property, plant and equipment | |||
Additions associated with maintenance | |||
Other additions | |||
Purchases of intangible assets | |||
Net cash flows from (used in) operating activities | (9,424) | (635) | (6,642) |
Net cash flow from (used in) investing activities | |||
Net cash flows from (used in) financing activities | |||
Operating Segments [Member] | |||
Net cash flows from | |||
Purchases of property, plant and equipment | 403,666 | 694,370 | 694,370 |
Additions associated with maintenance | 218,537 | 197,866 | 230,526 |
Other additions | 185,129 | 496,504 | 463,844 |
Purchases of intangible assets | 87,318 | 88,587 | 52,449 |
Net cash flows from (used in) operating activities | 1,666,740 | 980,884 | 1,672,101 |
Net cash flow from (used in) investing activities | (287,422) | (431,789) | (1,695,695) |
Net cash flows from (used in) financing activities | $ (1,179,088) | $ (396,279) | $ (128,360) |
SEGMENTAL INFORMATION (Detail95
SEGMENTAL INFORMATION (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | $ 9,613,907 | $ 8,988,340 | $ 9,740,045 |
Other operating income | 549,889 | 538,748 | 385,781 |
Peru | |||
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | 626,316 | 627,215 | 681,340 |
Argentina | |||
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | 1,113,467 | 1,030,973 | 979,324 |
U.S.A. | |||
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | 900,413 | 933,130 | 1,025,475 |
Europe | |||
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | 676,282 | 714,436 | 723,062 |
Colombia | |||
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | 359,276 | 343,001 | 353,007 |
Brazil | |||
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | 3,436,402 | 2,974,234 | 3,464,297 |
Ecuador | |||
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | 190,268 | 198,171 | 238,500 |
Chili | |||
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | 1,527,158 | 1,512,570 | 1,575,519 |
Asia Pacific and rest of Latin America | |||
Disclosure of geographical areas [line items] | |||
Income from ordinary activities | $ 784,325 | $ 654,610 | $ 699,521 |
SEGMENTAL INFORMATION (Detail96
SEGMENTAL INFORMATION (Details Narrative) | Dec. 31, 2017MemberSegment |
Disclosure of operating segments [line items] | |
Number of operating segment | Segment | 2 |
Coalition And Loyalty Program Multiplus [Member] | |
Disclosure of operating segments [line items] | |
Number of member for loyalty coalition | Member | 19,400,000 |
CASH AND CASH EQUIVALENTS (Deta
CASH AND CASH EQUIVALENTS (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Cash and cash equivalents [abstract] | ||||
Cash on hand | $ 8,562 | $ 8,630 | ||
Bank balances | 330,430 | 255,746 | ||
Overnight | 239,292 | 295,060 | ||
Total Cash | 578,284 | 559,436 | ||
Cash equivalents | ||||
Time deposits | 534,062 | 374,369 | ||
Mutual funds | 29,658 | 15,522 | ||
Total cash equivalents | 563,720 | 389,891 | ||
Total cash and cash equivalents | $ 1,142,004 | $ 949,327 | $ 753,497 | $ 989,396 |
CASH AND CASH EQUIVALENTS (De98
CASH AND CASH EQUIVALENTS (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure of financial assets [line items] | ||||
Total | $ 1,142,004 | $ 949,327 | $ 753,497 | $ 989,396 |
Argentina, Pesos | ||||
Disclosure of financial assets [line items] | ||||
Total | 12,135 | 7,871 | ||
Brazil, Brazil Real | ||||
Disclosure of financial assets [line items] | ||||
Total | 106,499 | 97,401 | ||
Chile, Pesos | ||||
Disclosure of financial assets [line items] | ||||
Total | 81,845 | 30,758 | ||
Colombia, Pesos | ||||
Disclosure of financial assets [line items] | ||||
Total | 7,264 | 4,336 | ||
Euro Member Countries, Euro | ||||
Disclosure of financial assets [line items] | ||||
Total | 11,746 | 1,695 | ||
United States of America, Dollars | ||||
Disclosure of financial assets [line items] | ||||
Total | 882,114 | 780,124 | ||
Other currency | ||||
Disclosure of financial assets [line items] | ||||
Total | $ 40,401 | $ 27,142 |
FINANCIAL INSTRUMENTS (Details)
FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Assets | |||||
Cash and cash equivalents | $ 1,142,004 | $ 949,327 | $ 753,497 | $ 989,396 | |
Other financial assets, current | 559,919 | 712,828 | |||
Trade and others accounts receivable, current | 1,214,050 | 1,107,889 | |||
Accounts receivable from related entities, current | 2,582 | 554 | |||
Other non-financial assets | 221,188 | 212,242 | |||
Accounts receivable, non current | 6,891 | 8,254 | |||
Total | 18,797,972 | 19,198,194 | |||
Liabilities | |||||
Trade and other accounts payables | 1,695,202 | 1,593,068 | |||
Other financial liabilities, non-current | 2,823,963 | 2,762,245 | |||
Total liabilities | 14,530,736 | 15,012,890 | |||
Other Financial Liabilities [Member] | |||||
Liabilities | |||||
Other liabilities, current | 1,288,749 | 1,814,647 | |||
Trade and other accounts payables | 1,695,202 | 1,593,068 | |||
Accounts payable to related entities, current | 760 | 269 | |||
Other financial liabilities, non-current | 6,602,891 | 6,790,273 | |||
Accounts payable, non-current | 498,832 | 359,391 | |||
Total liabilities | 10,086,434 | 10,557,648 | |||
Held Hedge Derivatives [Member] | |||||
Liabilities | |||||
Other liabilities, current | 12,200 | 24,881 | |||
Trade and other accounts payables | |||||
Accounts payable to related entities, current | |||||
Other financial liabilities, non-current | 2,617 | 6,679 | |||
Accounts payable, non-current | |||||
Total liabilities | 14,817 | 31,560 | |||
Financial liabilities [Member] | |||||
Liabilities | |||||
Other liabilities, current | 1,300,949 | 1,839,528 | |||
Trade and other accounts payables | 1,695,202 | 1,593,068 | |||
Accounts payable to related entities, current | 760 | 269 | |||
Other financial liabilities, non-current | 6,605,508 | 6,796,952 | |||
Accounts payable, non-current | 498,832 | 359,391 | |||
Total liabilities | 10,101,251 | 10,589,208 | |||
Loans And Receivables [Member] | |||||
Assets | |||||
Cash and cash equivalents | 1,112,346 | 933,805 | |||
Other financial assets, current | [1] | 23,918 | 164,426 | ||
Trade and others accounts receivable, current | 1,214,050 | 1,107,889 | |||
Accounts receivable from related entities, current | 2,582 | 554 | |||
Other non-financial assets | [1] | 87,077 | 101,603 | ||
Accounts receivable, non current | 6,891 | 8,254 | |||
Total | 2,446,864 | 2,316,531 | |||
Hedge Derivatives [Member] | |||||
Assets | |||||
Cash and cash equivalents | |||||
Other financial assets, current | [1] | 62,348 | 11,411 | ||
Trade and others accounts receivable, current | |||||
Accounts receivable from related entities, current | |||||
Other non-financial assets | [1] | 519 | |||
Accounts receivable, non current | |||||
Total | 62,867 | 11,411 | |||
Held For Trading [Member] | |||||
Assets | |||||
Cash and cash equivalents | |||||
Other financial assets, current | [1] | 1,421 | |||
Trade and others accounts receivable, current | |||||
Accounts receivable from related entities, current | |||||
Other non-financial assets | [1] | 494 | 522 | ||
Accounts receivable, non current | |||||
Total | 1,915 | 522 | |||
Initial Designation As Fair Value Through Profit And Loss [Member] | |||||
Assets | |||||
Cash and cash equivalents | 29,658 | 15,522 | |||
Other financial assets, current | [1] | 472,232 | 536,991 | ||
Trade and others accounts receivable, current | |||||
Accounts receivable from related entities, current | |||||
Other non-financial assets | [1] | ||||
Accounts receivable, non current | |||||
Total | 501,890 | 552,513 | |||
Financial Assets [Member] | |||||
Assets | |||||
Cash and cash equivalents | 1,142,004 | 949,327 | |||
Other financial assets, current | [1] | 559,919 | 712,828 | ||
Trade and others accounts receivable, current | 1,214,050 | 1,107,889 | |||
Accounts receivable from related entities, current | 2,582 | 554 | |||
Other non-financial assets | [1] | 88,090 | 102,125 | ||
Accounts receivable, non current | 6,891 | 8,254 | |||
Total | $ 3,013,536 | $ 2,880,977 | |||
[1] | The value presented as initial designation as fair value through profit and loss, corresponds mainly to private investment funds; and loans and receivables corresponds to guarantees given. |
FINANCIAL INSTRUMENTS (Details
FINANCIAL INSTRUMENTS (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Assets | |||||
Cash and cash equivalents | $ 1,142,004 | $ 949,327 | $ 753,497 | $ 989,396 | |
Other financial assets (current and non-current) | 648,009 | 814,953 | |||
Trade and other accounts receivable | 1,214,050 | 1,107,889 | |||
Accounts receivable, non-current | 6,891 | 8,254 | |||
Accounts receivable from related entities, current | 2,582 | 554 | |||
Total | 18,797,972 | 19,198,194 | |||
Argentina, Pesos | |||||
Assets | |||||
Cash and cash equivalents | 12,135 | 7,871 | |||
Other financial assets (current and non-current) | 297 | 337 | |||
Trade and other accounts receivable | 49,958 | 82,770 | |||
Accounts receivable, non-current | 4 | ||||
Total | 62,390 | 90,978 | |||
Brazil, Brazil Real | |||||
Assets | |||||
Cash and cash equivalents | 106,499 | 97,401 | |||
Other financial assets (current and non-current) | 475,810 | 686,501 | |||
Trade and other accounts receivable | 635,890 | 551,260 | |||
Accounts receivable, non-current | 4 | 8,250 | |||
Accounts receivable from related entities, current | 2 | ||||
Total | 1,218,205 | 1,335,166 | |||
Chile, Pesos | |||||
Assets | |||||
Cash and cash equivalents | 81,845 | 30,758 | |||
Other financial assets (current and non-current) | 26,679 | 668 | |||
Trade and other accounts receivable | 83,415 | 92,791 | |||
Accounts receivable, non-current | 6,887 | ||||
Accounts receivable from related entities, current | 735 | 554 | |||
Total | 199,561 | 133,021 | |||
Colombia, Pesos | |||||
Assets | |||||
Cash and cash equivalents | 7,264 | 4,336 | |||
Other financial assets (current and non-current) | 1,928 | 1,023 | |||
Trade and other accounts receivable | 3,249 | 16,454 | |||
Total | 12,441 | 21,813 | |||
Euro Member Countries, Euro | |||||
Assets | |||||
Cash and cash equivalents | 11,746 | 1,695 | |||
Other financial assets (current and non-current) | 7,853 | 6,966 | |||
Trade and other accounts receivable | 48,286 | 21,923 | |||
Total | 67,885 | 30,584 | |||
United States of America, Dollars | |||||
Assets | |||||
Cash and cash equivalents | 882,114 | 780,124 | |||
Other financial assets (current and non-current) | 133,431 | 117,346 | |||
Trade and other accounts receivable | 257,324 | 312,394 | |||
Accounts receivable from related entities, current | 1,845 | ||||
Total | 1,274,714 | 1,209,864 | |||
Other currency | |||||
Assets | |||||
Cash and cash equivalents | 40,401 | 27,142 | |||
Other financial assets (current and non-current) | 2,011 | 2,112 | |||
Trade and other accounts receivable | [1] | 135,928 | 30,297 | ||
Total | $ 178,340 | $ 59,551 | |||
[1] | See the composition of the others currencies in Note 8 Trade, other accounts receivable and non-current accounts receivable. |
TRADE AND OTHER ACCOUNTS REC101
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Trade accounts receivable | $ 1,175,796 | $ 1,022,933 |
Other accounts receivable | 133,054 | 170,264 |
Total net trade and accounts receivable | 1,220,941 | 1,116,143 |
Less: non-current portion - accounts receivable | (6,891) | (8,254) |
Trade and other accounts receivable, current | 1,214,050 | 1,107,889 |
Gross Book Value [Member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Trade accounts receivable | 1,175,796 | 1,022,933 |
Other accounts receivable | 133,054 | 170,264 |
Total net trade and accounts receivable | 1,308,850 | 1,193,197 |
Accumulated Impairment [Member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Other accounts receivable | ||
Total net trade and accounts receivable | $ (87,909) | $ (77,054) |
TRADE AND OTHER ACCOUNTS REC102
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | $ 1,175,796 | $ 1,022,933 | |
Gross Book Value [Member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | 1,175,796 | 1,022,933 | |
Gross Book Value [Member] | Fully performing [Member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | 1,040,671 | 907,358 | |
Gross Book Value [Member] | Not impaired Assets [Member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | 47,216 | 38,521 | |
Gross Book Value [Member] | Not impaired Assets [Member] | Up to 90 days [Member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | 34,153 | 27,651 | |
Gross Book Value [Member] | Not impaired Assets [Member] | Expired from 91 to 180 days [Member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | 10,141 | 9,303 | |
Gross Book Value [Member] | Not impaired Assets [Member] | Between 6 and 12 months [Member] | Judicial, pre-judicial collection and protested documents [Member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | [1] | 2,922 | 1,567 |
Gross Book Value [Member] | Impaired Assets [Member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | 87,909 | 77,054 | |
Gross Book Value [Member] | Impaired Assets [Member] | Judicial, pre-judicial collection and protested documents [Member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | 43,175 | 34,909 | |
Gross Book Value [Member] | Impaired Assets [Member] | Debtor under pre-judicial collection process and portfolio sensitization [Member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Total | $ 44,734 | $ 42,145 | |
[1] | Value of this segment corresponds primarily to accounts receivable that were evaluated in their ability to recover, therefore not requiring a provision. |
TRADE AND OTHER ACCOUNTS REC103
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | $ 1,220,941 | $ 1,116,143 |
Argentina, Pesos | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 49,958 | 82,770 |
Brazil, Brazil Real | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 635,894 | 551,264 |
Chile, Pesos | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 90,302 | 101,041 |
Colombia, Pesos | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 3,249 | 16,454 |
Euro Member Countries, Euro | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 48,286 | 21,923 |
United States of America, Dollars | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 257,324 | 312,394 |
Australia, Dollars | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 40,303 | 5,487 |
China, Yuan Renminbi | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 37 | 271 |
Danish Krone | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 197 | 151 |
Pound sterling | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 5,068 | 3,904 |
Indian Rupee | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 3,277 | 303 |
Japanese Yen | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 18,756 | 2,601 |
Norwegian Kroner | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 133 | 184 |
Swiss Franc | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 2,430 | 1,512 |
Korean Won | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 18,225 | 4,241 |
New Taiwanese Dollar | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 2,983 | 662 |
Other currencies | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | 44,519 | 10,938 |
Other currency | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Total | $ 135,928 | $ 30,254 |
TRADE AND OTHER ACCOUNTS REC104
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE (Details 3) | 12 Months Ended |
Dec. 31, 2017 | |
Over 1 year [Member] | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Percentage of impairment losses maturity | 100.00% |
Between 6 and 12 months [Member] | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Percentage of impairment losses maturity | 50.00% |
Judicial, pre-judicial collection and protested documents [Member] | |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |
Percentage of impairment losses maturity | 100.00% |
TRADE AND OTHER ACCOUNTS REC105
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE (Details 4) - Accumulated Impairment [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of reconciliation of changes in goodwill [line items] | |||
Opening balance | $ (77,054) | $ (60,072) | $ (71,042) |
Write-offs | 8,249 | 20,910 | 10,120 |
(Increase) Decrease | (19,104) | (37,892) | 850 |
Closing balance | $ (87,909) | $ (77,054) | $ (60,072) |
TRADE AND OTHER ACCOUNTS REC106
TRADE AND OTHER ACCOUNTS RECEIVABLE CURRENT, AND NON-CURRENT ACCOUNTS RECEIVABLE (Details 5) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Trade accounts receivable | $ 1,087,887 | $ 945,879 |
Other accounts receivable | 133,054 | 170,264 |
Gross Book Value [Member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Trade accounts receivable | 1,175,796 | 1,022,933 |
Other accounts receivable | 133,054 | 170,264 |
Accumulated Impairment [Member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Trade accounts receivable | (87,909) | (77,054) |
Other accounts receivable |
ACCOUNTS RECEIVABLE FROM_PAY107
ACCOUNTS RECEIVABLE FROM/PAYABLE TO RELATED ENTITIES (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of transactions between related parties [line items] | ||
Accounts Receivable | $ 2,582 | $ 554 |
Qatar Airways [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | Foreign | |
Nature of relationship with related parties | Indirect shareholder | |
Country of origin | Qatar | |
Currency | ThU$ | |
Accounts Receivable | $ 1,845 | |
Bethia S.A and Subsidiaries [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | 78.591.370-1 | |
Nature of relationship with related parties | Related director | |
Country of origin | Chile | |
Currency | CLP | |
Accounts Receivable | $ 728 | 538 |
TAM Aviacao Executiva e Taxi Aereo S.A. [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | Foreign | |
Nature of relationship with related parties | Related director | |
Country of origin | Brazil | |
Currency | BRL | |
Accounts Receivable | $ 2 | |
Granja Marina Tornagaleones S.A. [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | 87.752.000-5 | |
Nature of relationship with related parties | Common shareholder | |
Country of origin | Chile | |
Currency | CLP | |
Accounts Receivable | $ 5 | 14 |
Inversiones Costa Verde Ltda. yCPA. [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | 96.810.370-9 | |
Nature of relationship with related parties | Related director | |
Country of origin | Chile | |
Currency | CLP | |
Accounts Receivable | $ 2 | $ 2 |
ACCOUNTS RECEIVABLE FROM_PAY108
ACCOUNTS RECEIVABLE FROM/PAYABLE TO RELATED ENTITIES (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of transactions between related parties [line items] | ||
Accounts payable | $ 760 | $ 269 |
Viajes Falabella Ltda. [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | 65.216.000-K | |
Nature of relationship with related parties | Related director | |
Country of origin | Chile | |
Currency | CLP | |
Accounts payable | $ 534 | 46 |
Bethia S.A and Subsidiaries [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | 78.591.370-1 | |
Nature of relationship with related parties | Related director | |
Country of origin | Chile | |
Currency | CLP | |
Accounts payable | $ 12 | 6 |
Inversora Aeronautica Argentina [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | Foreign | |
Nature of relationship with related parties | Related director | |
Country of origin | Argentina | |
Currency | ARUS$ | |
Accounts payable | $ 4 | 2 |
Comunidad Mujer [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | 65.216.000-K | |
Nature of relationship with related parties | Related director | |
Country of origin | Chile | |
Currency | CLP | |
Accounts payable | 13 | |
Consultoria Administrativa Profesional S.A. de C.V. [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | Foreign | |
Nature of relationship with related parties | Associate | |
Country of origin | Mexico | |
Currency | MXN | |
Accounts payable | $ 210 | 170 |
TAM Aviacao Executiva e Taxi Aereo S/A [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | Foreign | |
Nature of relationship with related parties | Related director | |
Country of origin | Brazil | |
Currency | BRL | |
Accounts payable | 28 | |
Transportes San Felipe S.A [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Tax No | 79.773.440-3 | |
Nature of relationship with related parties | Related director | |
Country of origin | Chile | |
Currency | CLP | |
Accounts payable | $ 4 |
INVENTORIES (Details)
INVENTORIES (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Inventories Tables | ||
Technical stock | $ 195,530 | $ 191,864 |
Non-technical stock | 41,136 | 49,499 |
Total | $ 236,666 | $ 241,363 |
INVENTORIES (Details 1)
INVENTORIES (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Inventories Tables | ||
Provision for obsolescence Technical stock | $ 21,839 | $ 31,647 |
Provision for obsolescenceNon-technical stock | 6,488 | 3,429 |
Total | $ 28,327 | $ 35,076 |
INVENTORIES (Details Narrative)
INVENTORIES (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Inventories Tables | |||
Cost of sales | $ 7,441,849 | $ 6,967,037 | $ 7,636,709 |
OTHER FINANCIAL ASSETS (Details
OTHER FINANCIAL ASSETS (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial assets [line items] | |||
Current Assets | $ 559,919 | $ 712,828 | |
Non-current assets | 88,090 | 102,125 | |
Total Assets | 648,009 | 814,953 | |
Other Financial Assets Categories [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 497,571 | 701,417 | |
Non-current assets | 87,571 | 102,125 | |
Total Assets | 585,142 | 803,542 | |
Hedging Assets Categories [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 62,348 | 11,411 | |
Non-current assets | 519 | ||
Total Assets | 62,867 | 11,411 | |
Hedging Assets Categories [Member] | Interest Accrued Since The Last Payment Date Of Cross Currency Swap [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 202 | 64 | |
Non-current assets | |||
Total Assets | 202 | 64 | |
Hedging Assets Categories [Member] | Foreign Exchange Rate Risk [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | [1] | 48,322 | 1,259 |
Non-current assets | [1] | 519 | |
Total Assets | [1] | 48,841 | 1,259 |
Hedging Assets Categories [Member] | Fuel-Price Risk [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 10,711 | 10,088 | |
Non-current assets | |||
Total Assets | 10,711 | 10,088 | |
Private Investment Funds [Member] | Other Financial Assets Categories [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 472,232 | 536,991 | |
Non-current assets | |||
Total Assets | 472,232 | 536,991 | |
Deposits In Guarantee (Aircraft) [Member] | Other Financial Assets Categories [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 15,690 | 16,819 | |
Non-current assets | 41,058 | 56,846 | |
Total Assets | 56,748 | 73,665 | |
Guarantees For Margins Of Derivatives [Member] | Other Financial Assets Categories [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 2,197 | 939 | |
Non-current assets | |||
Total Assets | 2,197 | 939 | |
Other Investments [Member] | Other Financial Assets Categories [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | |||
Non-current assets | 494 | 522 | |
Total Assets | 494 | 522 | |
Domestic And Foreign Bonds [Member] | Other Financial Assets Categories [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 1,421 | ||
Non-current assets | |||
Total Assets | 1,421 | ||
Other Guarantees Given [Member] | Other Financial Assets Categories [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 6,031 | 140,733 | |
Non-current assets | 46,019 | 44,757 | |
Total Assets | 52,050 | 185,490 | |
Others [Member] | Other Financial Assets Categories [Member] | |||
Disclosure of financial assets [line items] | |||
Current Assets | 5,935 | ||
Non-current assets | |||
Total Assets | $ 5,935 | ||
[1] | The foreign currency derivatives correspond to forward and combination of options. |
OTHER NON-FINANCIAL ASSETS (Det
OTHER NON-FINANCIAL ASSETS (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of financial assets [line items] | ||||
Current Assets | $ 221,188 | $ 212,242 | ||
Non-current assets | 220,807 | 237,344 | ||
Total Assets | 441,995 | 449,586 | ||
Advance Payments Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | 59,015 | [1] | 56,798 | |
Non-current assets | 5,904 | [1] | 15,638 | |
Total Assets | 64,919 | [1] | 72,436 | |
Other Assets Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | 162,173 | 155,444 | ||
Non-current assets | 214,903 | 221,706 | ||
Total Assets | 377,076 | 377,150 | ||
Aircraft Leases [Member] | Advance Payments Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | 31,322 | 37,560 | ||
Non-current assets | 4,718 | 14,065 | ||
Total Assets | 36,040 | 51,625 | ||
Aircraft Insurance And Other [Member] | Advance Payments Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | 17,681 | 14,717 | ||
Non-current assets | ||||
Total Assets | 17,681 | 14,717 | ||
Others [Member] | Advance Payments Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | 10,012 | 4,521 | ||
Non-current assets | 1,186 | 1,573 | ||
Total Assets | 11,198 | 6,094 | ||
Others [Member] | Other Assets Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | 611 | |||
Non-current assets | 104 | |||
Total Assets | 715 | |||
Aircraft Maintenance Reserve [Member] | Other Assets Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | [1] | 21,505 | 51,576 | |
Non-current assets | [1] | 51,836 | 90,175 | |
Total Assets | [1] | 73,341 | 141,751 | |
Sales Tax [Member] | Other Assets Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | 137,866 | 102,351 | ||
Non-current assets | 37,959 | 40,232 | ||
Total Assets | 175,825 | 142,583 | ||
Other Taxes [Member] | Other Assets Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | 2,475 | 500 | ||
Non-current assets | ||||
Total Assets | 2,475 | 500 | ||
Contributions to Societe Internationale de Telecommunications Aeronautiques ("SITA") [Member] | Other Assets Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | 327 | 406 | ||
Non-current assets | 670 | 591 | ||
Total Assets | 997 | 997 | ||
Judicial Deposits [Member] | Other Assets Categories [Member] | ||||
Disclosure of financial assets [line items] | ||||
Current Assets | ||||
Non-current assets | 124,438 | 90,604 | ||
Total Assets | $ 124,438 | $ 90,604 | ||
[1] | Aircraft maintenance reserves reflect prepayment deposits made by the group to lessors of certain aircraft under operating lease agreements in order to ensure that funds are available to support the scheduled heavy maintenance of the aircraft. |
NON-CURRENT ASSETS AND DISPO114
NON-CURRENT ASSETS AND DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets | ||
Total current assets | $ 291,103 | $ 337,195 |
Current liabilities | ||
Total current liabilities | 15,546 | 10,152 |
Non-current Assets And In Disposal Groups Held For Sale [Member] | ||
Current assets | ||
Aircraft | 236,022 | 281,158 |
Engines and rotables | 9,197 | 29,083 |
Other assets | 45,884 | 26,954 |
Total current assets | 291,103 | 337,195 |
Current liabilities | ||
Other liabilities | 15,546 | 10,152 |
Total current liabilities | $ 15,546 | $ 10,152 |
NON-CURRENT ASSETS AND DISPO115
NON-CURRENT ASSETS AND DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE (Details 1) - Aircraft | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 5 | 7 | |
Boeing 777 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | [1] | 2 | 2 |
Airbus A330-200 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 1 | 3 | |
Airbus A320-200 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 1 | 1 | |
ATR42-300 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 1 | 1 | |
[1] | One aircraft leased to DHL. |
NON-CURRENT ASSETS AND DISPO116
NON-CURRENT ASSETS AND DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE (Details Narrative) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($)Employee | Dec. 31, 2016USD ($)AircraftBuilding | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets write down adjustment | $ | $ 55,000 | |
Assets reclassified from property, plant and equipment net realizable value | $ | $ 17,400 | |
Assets reclassified from inventories net realizable value | $ | $ 1,300 | |
Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of assets classified as held for sale | 2 | |
Number of assets sold | 2 | |
Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of assets classified as held for sale | 2 | |
Number of assets sold | 1 | |
Airbus A330 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of assets classified as held for sale | 6 | |
Number of assets sold | 2 | 2 |
Boeing 777 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of assets classified as held for sale | 2 | |
Airbus A330 (Spare Engines)[Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of assets classified as held for sale | 8 | |
Number of assets sold | 7 | 1 |
Airbus A330 (Rotables)[Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of assets classified as held for sale | 8 | |
Buildings [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of assets classified as held for sale | Building | 2 | |
D200 Rotables [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of assets sold | 1 |
INVESTMENTS IN SUBSIDIARIES (De
INVESTMENTS IN SUBSIDIARIES (Details) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Lan Peru S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation | Peru | Peru | ||
Functional currency | US$ | US$ | ||
Percentage of equity ownership | 70.00% | 70.00% | 70.00% | |
Lan Cargo S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation | Chile | Chile | ||
Functional currency | US$ | US$ | ||
Percentage of equity ownership | 99.898% | 99.898% | 99.898% | |
Lan Argentina S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation | Argentina | Argentina | ||
Functional currency | ARS | ARS | ||
Percentage of equity ownership | 99.8656% | 99.8656% | ||
Transporte Aereo S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation | Chile | Chile | ||
Functional currency | US$ | US$ | ||
Percentage of equity ownership | 100.00% | 100.00% | 100.00% | |
Aerolane Lineas Aereas Nacionales del Ecuador S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation | Ecuador | Ecuador | ||
Functional currency | US$ | US$ | ||
Percentage of equity ownership | 100.00% | 100.00% | ||
Aerovias de Integracion Regional, AIRES S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation | Colombia | Colombia | ||
Functional currency | COP | COP | ||
Percentage of equity ownership | 99.1906% | 99.1906% | ||
TAM S.A. and Subsidiaries [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Country of incorporation | Brazil | Brazil | ||
Functional currency | BRL | BRL | ||
Percentage of equity ownership | [1] | 100.00% | 99.9993% | 99.9993% |
[1] | As of December 31, 2017, indirect ownership participation on TAM S.A and subsidiaries is from Holdco I S.A., LATAM is entitled to 99,9983% of the economic rights and 49% of the rights politicians product of provisional measure No. 714 of the Brazilian Government implemented during 2016 which allows foreign capital to have up to 49% of the property. |
INVESTMENTS IN SUBSIDIARIES 118
INVESTMENTS IN SUBSIDIARIES (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Disclosure of subsidiaries [line items] | |||||
Assets | $ 18,797,972 | $ 19,198,194 | |||
Current Assets | 3,745,499 | 3,626,775 | |||
Non-current Assets | 15,052,473 | 15,571,419 | |||
Total liabilities | 14,530,736 | 15,012,890 | |||
Current Liabilities | 5,842,714 | 6,222,191 | |||
Non-current Liabilities | 8,688,022 | 8,790,699 | |||
Revenue | 9,613,907 | 8,988,340 | $ 9,740,045 | ||
Net income (loss) for the year | 200,714 | 110,670 | (178,732) | ||
Lan Peru S.A. [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Assets | 315,607 | 306,111 | 255,691 | ||
Current Assets | 294,308 | 283,691 | 232,547 | ||
Non-current Assets | 21,299 | 22,420 | 23,144 | ||
Total liabilities | 303,204 | 294,912 | 240,938 | ||
Current Liabilities | 301,476 | 293,602 | 239,521 | ||
Non-current Liabilities | 1,728 | 1,310 | 1,417 | ||
Revenue | 1,046,423 | 967,787 | 1,078,992 | ||
Net income (loss) for the year | 1,205 | (2,164) | 5,068 | ||
Lan Cargo S.A. [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Assets | 584,169 | 480,908 | 483,033 | ||
Current Assets | 266,836 | 144,309 | 159,294 | ||
Non-current Assets | 317,333 | 336,599 | 323,739 | ||
Total liabilities | 371,934 | 239,728 | 217,037 | ||
Current Liabilities | 292,529 | 211,395 | 147,423 | ||
Non-current Liabilities | 79,405 | 28,333 | 69,614 | ||
Revenue | 264,544 | 266,296 | 278,117 | ||
Net income (loss) for the year | (30,220) | (24,813) | (74,408) | ||
Lan Argentina S.A. [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Assets | 198,951 | 216,331 | 195,756 | ||
Current Assets | 166,445 | 194,306 | 180,558 | ||
Non-current Assets | 32,506 | 22,025 | 15,198 | ||
Total liabilities | 143,731 | 200,172 | 170,384 | ||
Current Liabilities | 139,914 | 197,330 | 168,126 | ||
Non-current Liabilities | 3,817 | 2,842 | 2,258 | ||
Revenue | 387,557 | 371,896 | 443,317 | ||
Net income (loss) for the year | (41,636) | (29,572) | 9,432 | ||
Transporte Aereo S.A. [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Assets | 324,498 | 340,940 | 331,117 | ||
Current Assets | 30,909 | 36,986 | 41,756 | ||
Non-current Assets | 293,589 | 303,954 | 289,361 | ||
Total liabilities | 104,357 | 124,805 | 122,666 | ||
Current Liabilities | 36,901 | 59,668 | 44,495 | ||
Non-current Liabilities | 67,456 | 65,137 | 78,171 | ||
Revenue | 317,436 | 297,247 | 324,464 | ||
Net income (loss) for the year | 2,172 | 8,206 | 5,878 | ||
Aerolane Lineas Aereas Nacionales del Ecuador S.A. [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Assets | 96,407 | 89,667 | 126,001 | ||
Current Assets | 66,166 | 56,064 | 80,641 | ||
Non-current Assets | 30,241 | 33,603 | 45,360 | ||
Total liabilities | 84,123 | 81,101 | 116,153 | ||
Current Liabilities | 78,817 | 75,985 | 111,245 | ||
Non-current Liabilities | 5,306 | 5,116 | 4,908 | ||
Revenue | 219,039 | 219,676 | 246,402 | ||
Net income (loss) for the year | 3,722 | (1,281) | (1,278) | ||
Aerovias de Integracion Regional, AIRES S.A. [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Assets | 138,138 | 129,734 | 130,039 | ||
Current Assets | 64,160 | 55,132 | 62,937 | ||
Non-current Assets | 73,978 | 74,602 | 67,102 | ||
Total liabilities | 91,431 | 85,288 | 75,003 | ||
Current Liabilities | 80,081 | 74,160 | 64,829 | ||
Non-current Liabilities | 11,350 | 11,128 | 10,174 | ||
Revenue | 279,414 | 277,503 | 291,354 | ||
Net income (loss) for the year | 526 | (13,675) | (34,079) | ||
TAM S.A. and Subsidiaries [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Assets | [1] | 4,490,714 | 5,287,286 | 4,969,553 | [2] |
Current Assets | [1] | 1,843,822 | 1,794,189 | 1,350,377 | |
Non-current Assets | [1] | 2,646,892 | 3,493,097 | 3,360,939 | |
Total liabilities | [1] | 3,555,423 | 4,710,308 | 4,199,223 | |
Current Liabilities | [1] | 2,052,633 | 2,837,620 | 1,963,400 | |
Non-current Liabilities | [1] | 1,502,790 | 1,872,688 | 2,235,823 | |
Revenue | [1] | 4,621,338 | 4,145,951 | 4,597,611 | |
Net income (loss) for the year | [1],[2] | $ 160,582 | $ 2,107 | $ (183,581) | |
[1] | Correspond to consolidated information of TAM S.A. and Subsidiaries. | ||||
[2] | The Equity reported corresponds to Equity attributable to owners of the parent, it does not include Non-controlling interest. |
INVESTMENTS IN SUBSIDIARIES 119
INVESTMENTS IN SUBSIDIARIES (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of subsidiaries [line items] | |||
Total | $ 91,147 | $ 88,644 | |
Lan Peru S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | Foreign | ||
Country of origin | Peru | Peru | |
Percentage of equity ownwrship | 70.00% | 70.00% | 70.00% |
Lan Cargo S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 93.383.000-4 | ||
Country of origin | Chile | Chile | |
Percentage of equity ownwrship | 99.898% | 99.898% | 99.898% |
Lan Argentina S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of origin | Argentina | Argentina | |
Percentage of equity ownwrship | 99.8656% | 99.8656% | |
Aerolane Lineas Aereas Nacionales del Ecuador S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of origin | Ecuador | Ecuador | |
Percentage of equity ownwrship | 100.00% | 100.00% | |
Non-Controlling Interest [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | $ 91,147 | $ 88,644 | |
Non-Controlling Interest [Member] | Lan Peru S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Peru | Peru | Peru |
Percentage of equity ownwrship | 30.00% | 30.00% | |
Total | $ 3,722 | $ 3,360 | |
Non-Controlling Interest [Member] | Lan Cargo S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 93.383.000 - 4 | 93.383.000 - 4 | 93.383.000 - 4 |
Country of origin | Chile | Chile | Chile |
Percentage of equity ownwrship | 0.10196% | 0.10196% | |
Total | $ 849 | $ 957 | |
Non-Controlling Interest [Member] | Promotora Aerea Latinoamericana S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Mexico | Mexico | Mexico |
Percentage of equity ownwrship | 51.00% | 51.00% | |
Total | $ 4,578 | $ 3,162 | |
Non-Controlling Interest [Member] | Inversora Cordillera S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Argentina | Argentina | Argentina |
Percentage of equity ownwrship | 0.1394% | 70.422% | |
Total | $ 3,502 | $ 515 | |
Non-Controlling Interest [Member] | Lan Argentina S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Argentina | Argentina | Argentina |
Percentage of equity ownwrship | 0.02842% | 0.1344% | |
Total | $ 79 | $ (311) | |
Non-Controlling Interest [Member] | Americonsult de Guatemala S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Guatemala | Guatemala | Guatemala |
Percentage of equity ownwrship | 1.00% | 1.00% | |
Total | $ 1 | $ 1 | |
Non-Controlling Interest [Member] | Americonsult Costa Rica S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Costa Rica | Costa Rica | Costa Rica |
Percentage of equity ownwrship | 1.00% | 1.00% | |
Total | $ 12 | $ 12 | |
Non-Controlling Interest [Member] | Linea Aerea Carguera de Colombiana S.A. [Mmeber] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Colombia | Colombia | Colombia |
Percentage of equity ownwrship | 10.00% | 10.00% | |
Total | $ (520) | $ (905) | |
Non-Controlling Interest [Member] | Aerolane Lineas Aereas Nacionales del Ecuador S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | |
Country of origin | Colombia | Colombia | |
Percentage of equity ownwrship | 0.8094% | 0.8094% | |
Total | $ 461 | $ 436 | |
Non-Controlling Interest [Member] | Transportes Aereos del Mercosur S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Paraguay | Paraguay | Paraguay |
Percentage of equity ownwrship | 5.02% | 5.02% | |
Total | $ 1,324 | $ 1,104 | |
Non-Controlling Interest [Member] | Multiplus S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Brazil | Brazil | Brazil |
Percentage of equity ownwrship | 27.26% | 27.26% | |
Total | $ 77,139 | $ 80,313 |
INVESTMENTS IN SUBSIDIARIES 120
INVESTMENTS IN SUBSIDIARIES (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of subsidiaries [line items] | |||
Total | $ 45,410 | $ 41,450 | $ 40,542 |
Lan Peru S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | Foreign | ||
Country of origin | Peru | Peru | |
Lan Cargo S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 93.383.000-4 | ||
Country of origin | Chile | Chile | |
Lan Argentina S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of origin | Argentina | Argentina | |
Non-Controlling Interest [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | $ 45,410 | $ 41,450 | $ 40,542 |
Non-Controlling Interest [Member] | Lan Peru S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Peru | Peru | Peru |
Percentage of income attributable to subsidiaries | 30.00% | 30.00% | 30.00% |
Total | $ 360 | $ (649) | $ 1,521 |
Non-Controlling Interest [Member] | Lan Cargo S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 93.383.000 - 4 | 93.383.000 - 4 | 93.383.000 - 4 |
Country of origin | Chile | Chile | Chile |
Percentage of income attributable to subsidiaries | 0.10196% | 0.10196% | 0.10196% |
Total | $ (4) | $ (7) | $ (69) |
Non-Controlling Interest [Member] | Promotora Aerea Latinoamericana S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Mexico | Mexico | Mexico |
Percentage of income attributable to subsidiaries | 51.00% | 51.00% | 51.00% |
Total | $ 1,416 | $ 96 | $ 1,349 |
Non-Controlling Interest [Member] | Inversora Cordillera S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Argentina | Argentina | Argentina |
Percentage of income attributable to subsidiaries | 0.1394% | 0.7042% | 0.7042% |
Total | $ 117 | $ 364 | $ 281 |
Non-Controlling Interest [Member] | Lan Argentina S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Argentina | Argentina | Argentina |
Percentage of income attributable to subsidiaries | 0.02842% | 0.1344% | 1.00% |
Total | $ 24 | $ 77 | $ 61 |
Non-Controlling Interest [Member] | Americonsult de Guatemala S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Guatemala | Guatemala | Guatemala |
Percentage of income attributable to subsidiaries | 1.00% | 1.00% | 1.00% |
Total | $ (4) | $ 1 | |
Non-Controlling Interest [Member] | Americonsult Costa Rica S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Costa Rica | Costa Rica | Costa Rica |
Percentage of income attributable to subsidiaries | 1.00% | 1.00% | 1.00% |
Total | $ 1 | ||
Non-Controlling Interest [Member] | Linea Aerea Carguera de Colombiana S.A. [Mmeber] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Colombia | Colombia | Colombia |
Percentage of income attributable to subsidiaries | 10.00% | 10.00% | 10.00% |
Total | $ 398 | $ (106) | $ 14 |
Non-Controlling Interest [Member] | Aerolineas Regionales de Integracion Aires S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Colombia | Colombia | Colombia |
Percentage of income attributable to subsidiaries | 0.8094% | 0.8094% | 0.98307% |
Total | $ 4 | $ (140) | $ (335) |
Non-Controlling Interest [Member] | Transportes Aereos del Mercosur S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Paraguay | Paraguay | Paraguay |
Percentage of income attributable to subsidiaries | 5.02% | 5.02% | 5.02% |
Total | $ 299 | $ 146 | $ 431 |
Non-Controlling Interest [Member] | Multiplus S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No . | 0 - E | 0 - E | 0 - E |
Country of origin | Brazil | Brazil | Brazil |
Percentage of income attributable to subsidiaries | 27.26% | 27.26% | 27.26% |
Total | $ 42,796 | $ 41,673 | $ 37,283 |
INTANGIBLE ASSETS OTHER THAN121
INTANGIBLE ASSETS OTHER THAN GOODWILL (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | $ 1,617,247 | $ 1,610,313 | $ 1,321,425 | $ 1,880,079 | |
Gross Book Value [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 1,981,284 | 1,880,354 | |||
Airport Slots [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | [1] | 964,513 | 978,849 | 816,987 | 1,201,028 |
Airport Slots [Member] | Gross Book Value [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 964,513 | 978,849 | |||
Loyalty Program [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 321,440 | 326,262 | |||
Loyalty Program [Member] | Gross Book Value [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 321,440 | 326,262 | |||
Computer Software [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 160,970 | 157,016 | 104,258 | 126,797 | |
Computer Software [Member] | Gross Book Value [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 509,377 | 419,652 | |||
Developing Software [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 123,415 | 91,053 | $ 74,887 | $ 74,050 | |
Developing Software [Member] | Gross Book Value [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 123,415 | 91,053 | |||
Trade Marks [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 46,909 | 57,133 | |||
Trade Marks [Member] | Gross Book Value [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | 62,539 | 63,730 | |||
Other Assets [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | |||||
Other Assets [Member] | Gross Book Value [Member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Intangible assets other than goodwill | $ 808 | ||||
[1] | See Note 2.5 |
INTANGIBLE ASSETS OTHER THAN122
INTANGIBLE ASSETS OTHER THAN GOODWILL (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Reconciliation of changes in intangible assets other than goodwill [Roll Forward] | ||||
Opening balance | $ 1,610,313 | $ 1,321,425 | $ 1,880,079 | |
Additions | 87,333 | 90,360 | 53,224 | |
Withdrawals | (928) | (927) | (4,775) | |
Transfer software | 203 | 10,653 | (1,700) | |
Foreing exchange | (21,264) | 239,059 | (568,667) | |
Amortization | (58,410) | (50,257) | (36,736) | |
Closing balance | 1,617,247 | 1,610,313 | 1,321,425 | |
Computer Software [Member] | ||||
Reconciliation of changes in intangible assets other than goodwill [Roll Forward] | ||||
Opening balance | 157,016 | 104,258 | 126,797 | |
Additions | 8,453 | 6,688 | 4,954 | |
Withdrawals | (244) | (736) | (4,612) | |
Transfer software | 45,783 | 85,029 | 28,726 | |
Foreing exchange | (1,215) | 5,689 | (14,871) | |
Amortization | (48,823) | (43,912) | (36,736) | |
Closing balance | 160,970 | 157,016 | 104,258 | |
Developing Software [Member] | ||||
Reconciliation of changes in intangible assets other than goodwill [Roll Forward] | ||||
Opening balance | 91,053 | 74,887 | 74,050 | |
Additions | 78,880 | 83,672 | 48,270 | |
Withdrawals | (684) | (191) | (162) | |
Transfer software | (45,580) | (74,376) | (30,426) | |
Foreing exchange | (254) | 7,061 | (16,845) | |
Amortization | ||||
Closing balance | 123,415 | 91,053 | 74,887 | |
Airport Slots [Member] | ||||
Reconciliation of changes in intangible assets other than goodwill [Roll Forward] | ||||
Opening balance | [1] | 978,849 | 816,987 | 1,201,028 |
Additions | [1] | |||
Withdrawals | [1] | |||
Transfer software | [1] | |||
Foreing exchange | [1] | (14,336) | 161,862 | (384,041) |
Amortization | [1] | |||
Closing balance | [1] | 964,513 | 978,849 | 816,987 |
Trademarks and Loyalty Program [Member] | ||||
Reconciliation of changes in intangible assets other than goodwill [Roll Forward] | ||||
Opening balance | [1],[2] | 383,395 | 325,293 | 478,204 |
Additions | [1],[2] | |||
Withdrawals | [1],[2] | (1) | ||
Transfer software | [1],[2] | |||
Foreing exchange | [1],[2] | (5,459) | 64,447 | (152,910) |
Amortization | [1],[2] | (9,587) | (6,345) | |
Closing balance | [1],[2] | $ 368,349 | $ 383,395 | $ 325,293 |
[1] | See Note 2.5 | |||
[2] | In 2016, after the extensive work of integration after the association between LAN and TAM, during which there has been solid progress in the homologation of the optimization processes of its air connections, in addition to the restructuring and modernization of the fleet of aircraft, the Company has resolved adopt a unique name and identity, and announce that the brand of the group will be LATAM ", which would unite all companies under a single image. |
INTANGIBLE ASSETS OTHER THAN123
INTANGIBLE ASSETS OTHER THAN GOODWILL (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about intangible assets [line items] | |||
Useful lives | The estimated new useful life is 5 years, equivalent to the period for finishing all the image changes necessary. | ||
Accumulated amortization | $ (58,410) | $ (50,257) | $ (36,736) |
Computer Programs [Member] | Accumulated Depreciation [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Accumulated amortization | $ 373,463 | $ 270,041 |
GOODWILL (Details)
GOODWILL (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reconciliation of changes in goodwill [Roll Forward] | |||
Opening balance | $ 2,710,382 | $ 2,280,575 | $ 3,313,401 |
Increase (decrease) due to exchange rate differences | (37,832) | 430,074 | (1,032,826) |
Others | (267) | ||
Closing balance | 2,672,550 | 2,710,382 | 2,280,575 |
Air Transport CGU [Member] | |||
Reconciliation of changes in goodwill [Roll Forward] | |||
Opening balance | 2,176,634 | 1,835,088 | 2,658,503 |
Increase (decrease) due to exchange rate differences | (29,942) | 341,813 | (823,415) |
Others | (267) | ||
Closing balance | 2,146,692 | 2,176,634 | 1,835,088 |
Coalition and Loyalty Program Multiplus CGU [Member] | |||
Reconciliation of changes in goodwill [Roll Forward] | |||
Opening balance | 533,748 | 445,487 | 654,898 |
Increase (decrease) due to exchange rate differences | (7,890) | 88,261 | (209,411) |
Others | |||
Closing balance | $ 525,858 | $ 533,748 | $ 445,487 |
GOODWILL (Details 1)
GOODWILL (Details 1) - Goodwill [Member] $ in Thousands | Dec. 31, 2017USD ($)$ / shares | |
Air Transport CGU [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual growth rate (Terminal) | 1.00% | |
Discount rate based on the weighted average cost of capital (WACC) | 8.55% | |
Air Transport CGU [Member] | Bottom of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual growth rate (Terminal) | 1.00% | |
Exchange rate (in dollars per share) | 3.3 | [1] |
Discount rate based on the weighted average cost of capital (WACC) | 7.55% | |
Fuel Price from futures price curves commodities markets (in dollars per Barril) | $ | $ 73 | |
Air Transport CGU [Member] | Top of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual growth rate (Terminal) | 2.00% | |
Exchange rate (in dollars per share) | 3.9 | [1] |
Discount rate based on the weighted average cost of capital (WACC) | 8.55% | |
Fuel Price from futures price curves commodities markets (in dollars per Barril) | $ | $ 78 | |
Coalition and Loyalty Program Multiplus CGU [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual growth rate (Terminal) | 4.00% | |
Discount rate based on cost of equity (Ke) | 13.40% | |
Coalition and Loyalty Program Multiplus CGU [Member] | Bottom of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual growth rate (Terminal) | 4.00% | [2] |
Exchange rate (in dollars per share) | 3.3 | [1],[2] |
Discount rate based on cost of equity (Ke) | 12.40% | [2] |
Coalition and Loyalty Program Multiplus CGU [Member] | Top of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Annual growth rate (Terminal) | 5.00% | [2] |
Exchange rate (in dollars per share) | 3.9 | [1],[2] |
Discount rate based on cost of equity (Ke) | 13.40% | [2] |
[1] | In line with the expectations of the Central Bank of Brazil. | |
[2] | The flow, as well as annual growth rte and discount, are denominated in real. |
GOODWILL (Details 2)
GOODWILL (Details 2) - Goodwill [Member] | Dec. 31, 2017 |
Air Transport CGU [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
Increase Maximum WACC | 8.55% |
Decrease Minimum terminal growth rate | 1.00% |
Coalition and Loyalty Program Multiplus CGU [Member] | |
Disclosure of detailed information about intangible assets [line items] | |
Increase Maximum CoE | 13.40% |
Decrease Minimum terminal growth rate | 4.00% |
GOODWILL (Details Narrative)
GOODWILL (Details Narrative) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure of detailed information about intangible assets [abstract] | ||||
Goodwill | $ 2,672,550 | $ 2,710,382 | $ 2,280,575 | $ 3,313,401 |
PROPERTY, PLANT AND EQUIPMEN128
PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | $ 10,065,335 | $ 10,498,149 | $ 10,938,657 | $ 10,773,076 | |||
Construction in Progress [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 556,822 | [1] | 470,065 | [2] | 1,142,812 | 937,279 | |
Land [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 49,780 | 50,148 | 45,313 | 57,988 | |||
Buildings [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 124,548 | 130,219 | 91,491 | 167,006 | |||
Plant and Equipment [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 6,832,398 | 7,749,542 | |||||
Own Aircraft [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 6,405,573 | 7,313,659 | |||||
Other [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | [3] | 426,825 | 435,883 | ||||
Machinery [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 9,788 | 12,425 | |||||
Information Technology Equipment [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 30,156 | 39,714 | 43,889 | 51,009 | |||
Fixed Installations and Accessories [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 80,777 | 83,912 | 88,958 | 43,783 | |||
Motor Vehicles [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 11,478 | 28,953 | |||||
Leasehold Improvements [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 84,225 | 104,541 | 54,088 | 56,523 | |||
Other Property, Plants and Equipment [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 2,285,363 | 1,828,630 | $ 2,129,506 | $ 2,503,434 | |||
Financial Leasing Aircraft [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 2,222,620 | 1,753,366 | |||||
Other [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 62,743 | 75,264 | |||||
Gross Book Value [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 14,310,287 | 14,486,764 | |||||
Gross Book Value [Member] | Construction in Progress [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | [1] | 556,822 | 470,065 | ||||
Gross Book Value [Member] | Land [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 49,780 | 50,148 | |||||
Gross Book Value [Member] | Buildings [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 190,552 | 190,771 | |||||
Gross Book Value [Member] | Plant and Equipment [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 9,222,540 | 10,099,587 | |||||
Gross Book Value [Member] | Own Aircraft [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 8,544,185 | 9,436,684 | |||||
Gross Book Value [Member] | Other [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | [3] | 678,355 | 662,903 | ||||
Gross Book Value [Member] | Machinery [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 39,084 | 39,246 | |||||
Gross Book Value [Member] | Information Technology Equipment [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 166,713 | 163,695 | |||||
Gross Book Value [Member] | Fixed Installations and Accessories [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 186,989 | 178,363 | |||||
Gross Book Value [Member] | Motor Vehicles [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 70,290 | 96,808 | |||||
Gross Book Value [Member] | Leasehold Improvements [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 186,679 | 192,100 | |||||
Gross Book Value [Member] | Other Property, Plants and Equipment [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 3,640,838 | 3,005,981 | |||||
Gross Book Value [Member] | Financial Leasing Aircraft [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 3,551,041 | 2,905,556 | |||||
Gross Book Value [Member] | Other [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | 89,797 | 100,425 | |||||
Accumulated Depreciation [member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (4,244,952) | (3,988,615) | |||||
Accumulated Depreciation [member] | Construction in Progress [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | [1] | ||||||
Accumulated Depreciation [member] | Land [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | |||||||
Accumulated Depreciation [member] | Buildings [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (66,004) | (60,552) | |||||
Accumulated Depreciation [member] | Plant and Equipment [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (2,390,142) | (2,350,045) | |||||
Accumulated Depreciation [member] | Own Aircraft [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (2,138,612) | (2,123,025) | |||||
Accumulated Depreciation [member] | Other [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | [3] | (251,530) | (227,020) | ||||
Accumulated Depreciation [member] | Machinery [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (29,296) | (26,821) | |||||
Accumulated Depreciation [member] | Information Technology Equipment [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (136,557) | (123,981) | |||||
Accumulated Depreciation [member] | Fixed Installations and Accessories [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (106,212) | (94,451) | |||||
Accumulated Depreciation [member] | Motor Vehicles [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (58,812) | (67,855) | |||||
Accumulated Depreciation [member] | Leasehold Improvements [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (102,454) | (87,559) | |||||
Accumulated Depreciation [member] | Other Property, Plants and Equipment [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (1,355,475) | (1,177,351) | |||||
Accumulated Depreciation [member] | Financial Leasing Aircraft [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | (1,328,421) | (1,152,190) | |||||
Accumulated Depreciation [member] | Other [Member] | |||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||
Book Value | $ (27,054) | $ (25,161) | |||||
[1] | As of December 31, 2017, includes pre-delivery payments to aircraft manufacturers for ThUS$ 543,720 (ThUS$ 434,250 as of December 31, 2016). | ||||||
[2] | It includes pre-delivery payments to aircraft manufacturers for ThUS$ 434,250 (ThUS$ 1,016,007 as of December 31, 2015). | ||||||
[3] | Mainly considers rotable and tools. |
PROPERTY, PLANT AND EQUIPMEN129
PROPERTY, PLANT AND EQUIPMENT (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | $ 10,498,149 | $ 10,938,657 | $ 10,773,076 | |||
Additions | 325,513 | 1,390,730 | 1,439,057 | |||
Disposals | (16,090) | (19,981) | (77,221) | |||
Retirements | (27,054) | (44,085) | (49,944) | |||
Depreciation expenses | (765,204) | (744,552) | (745,519) | |||
Foreing exchange | (11,506) | 172,987 | (435,300) | |||
Other increases (decreases) | 61,527 | (1,195,607) | 34,508 | |||
Changes, total | (432,814) | (440,508) | 165,581 | |||
Closing balance | 10,065,335 | 10,498,149 | 10,938,657 | |||
Construction in Progress [Member] | ||||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | 470,065 | [1] | 1,142,812 | 937,279 | ||
Additions | 11,145 | 14,481 | 39,711 | |||
Disposals | ||||||
Retirements | (127) | (284) | (1,262) | |||
Depreciation expenses | ||||||
Foreing exchange | 107 | 5,081 | (932) | |||
Other increases (decreases) | 75,632 | (692,025) | 168,016 | |||
Changes, total | 86,757 | (672,747) | 205,533 | |||
Closing balance | 556,822 | [2] | 470,065 | [1] | 1,142,812 | |
Land [Member] | ||||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | 50,148 | 45,313 | 57,988 | |||
Additions | ||||||
Disposals | ||||||
Retirements | ||||||
Depreciation expenses | ||||||
Foreing exchange | (368) | 4,835 | (11,786) | |||
Other increases (decreases) | (889) | |||||
Changes, total | (368) | 4,835 | (12,675) | |||
Closing balance | 49,780 | 50,148 | 45,313 | |||
Buildings [Member] | ||||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | 130,219 | 91,491 | 167,006 | |||
Additions | 272 | 439 | ||||
Disposals | (500) | |||||
Retirements | (6) | (68) | (956) | |||
Depreciation expenses | (7,946) | (6,234) | (7,161) | |||
Foreing exchange | (275) | 2,538 | (18,248) | |||
Other increases (decreases) | 2,556 | 42,220 | (49,089) | |||
Changes, total | (5,671) | 38,728 | (75,515) | |||
Closing balance | 124,548 | 130,219 | 91,491 | |||
Information Technology Equipment [Member] | ||||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | 39,714 | 43,889 | 51,009 | |||
Additions | 5,708 | 7,392 | 15,322 | |||
Disposals | (6) | (59) | (27) | |||
Retirements | (473) | (55) | (104) | |||
Depreciation expenses | (14,587) | (14,909) | (16,196) | |||
Foreing exchange | (183) | 2,924 | (6,126) | |||
Other increases (decreases) | (17) | 532 | 11 | |||
Changes, total | (9,558) | (4,175) | (7,120) | |||
Closing balance | 30,156 | 39,714 | 43,889 | |||
Fixed Installations and Accessories [Member] | ||||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | 83,912 | 88,958 | 43,783 | |||
Additions | 329 | 292 | 1,692 | |||
Disposals | (10) | |||||
Retirements | (497) | (1,258) | (476) | |||
Depreciation expenses | (14,124) | (13,664) | (11,649) | |||
Foreing exchange | (820) | 9,384 | (13,269) | |||
Other increases (decreases) | 11,987 | 200 | 68,877 | |||
Changes, total | (3,135) | (5,046) | 45,175 | |||
Closing balance | 80,777 | 83,912 | 88,958 | |||
Motor Vehicles [Member] | ||||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | 1,045 | 1,525 | 1,965 | |||
Additions | 77 | 6 | 280 | |||
Disposals | (43) | (32) | (8) | |||
Retirements | (4) | |||||
Depreciation expenses | (187) | (293) | (378) | |||
Foreing exchange | (8) | 223 | (638) | |||
Other increases (decreases) | (448) | (384) | 308 | |||
Changes, total | (609) | (480) | (440) | |||
Closing balance | 436 | 1,045 | 1,525 | |||
Leasehold Improvements [Member] | ||||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | 104,541 | 54,088 | 56,523 | |||
Additions | 8,156 | 54,181 | 13,188 | |||
Disposals | ||||||
Retirements | ||||||
Depreciation expenses | (27,266) | (23,283) | (13,973) | |||
Foreing exchange | (243) | 2,849 | (1,659) | |||
Other increases (decreases) | (963) | 16,706 | 9 | |||
Changes, total | (20,316) | 50,453 | (2,435) | |||
Closing balance | 84,225 | 104,541 | 54,088 | |||
Other Property, Plants and Equipment [Member] | ||||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | 1,828,630 | 2,129,506 | 2,503,434 | |||
Additions | 41,483 | 13,013 | 64,226 | |||
Disposals | (27) | (2,972) | (11) | |||
Retirements | (1,610) | (2,604) | (8,902) | |||
Depreciation expenses | (204,237) | (124,038) | (174,474) | |||
Foreing exchange | (5,113) | 93,383 | (252,709) | |||
Other increases (decreases) | 626,237 | (277,658) | (2,058) | |||
Changes, total | 456,733 | (300,876) | (373,928) | |||
Closing balance | 2,285,363 | 1,828,630 | 2,129,506 | |||
Plant and Equipment Net [Member] | ||||||
Reconciliation of changes in property, plant and equipment [Roll Forward] | ||||||
Opening balance | 7,789,875 | 7,341,075 | 6,954,089 | |||
Additions | 258,615 | 1,301,093 | 1,304,199 | |||
Disposals | (16,004) | (16,918) | [3] | (76,675) | [4] | |
Retirements | (24,341) | (39,816) | (38,240) | |||
Depreciation expenses | (496,857) | (562,131) | (521,688) | |||
Foreing exchange | (4,603) | 51,770 | (129,933) | |||
Other increases (decreases) | (653,457) | (285,198) | [5] | (150,677) | ||
Changes, total | (936,647) | 448,800 | 386,986 | |||
Closing balance | $ 6,853,228 | $ 7,789,875 | $ 7,341,075 | |||
[1] | It includes pre-delivery payments to aircraft manufacturers for ThUS$ 434,250 (ThUS$ 1,016,007 as of December 31, 2015). | |||||
[2] | As of December 31, 2017, includes pre-delivery payments to aircraft manufacturers for ThUS$ 543,720 (ThUS$ 434,250 as of December 31, 2016). | |||||
[3] | During 2016 the sale of two Airbus A330 aircraft was materialized. | |||||
[4] | During the first half of 2015 three Airbus A340 aircraft were sold. During the second half of 2015 seven Dash-200 aircraft were sold. During the second half of 2015 two Airbus A319 aircraft were sold. | |||||
[5] | During 2016 the reclassification to non-current assets or groups of assets for disposal classified as held for sale (see Note 13) of two Airbus A319 aircraft, two Airbus A320 aircraft, six Airbus A330 aircraft and two Boeing 777 aircraft was materialized. |
PROPERTY, PLANT AND EQUIPMEN130
PROPERTY, PLANT AND EQUIPMENT (Details 2) - Aircraft | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | |||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 315 | 332 | ||
Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 222 | 221 | ||
Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 93 | 111 | ||
Boeing 767 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | 300ER | |||
Number of aircraft | 36 | 37 | ||
Boeing 767 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 34 | 34 | ||
Boeing 767 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 2 | 3 | ||
Boeing 767 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | 300F | |||
Number of aircraft | [1] | 10 | 11 | |
Boeing 767 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | [1] | 8 | 8 | |
Boeing 767 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 2 | 3 | ||
Boeing 777 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | 300ER | |||
Number of aircraft | 10 | 10 | ||
Boeing 777 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 4 | 4 | ||
Boeing 777 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 6 | 6 | ||
Boeing 777 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | Freighter | |||
Number of aircraft | 2 | |||
Boeing 777 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | ||||
Boeing 777 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 2 | |||
Boeing 787 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | 800 | |||
Number of aircraft | 10 | 10 | ||
Boeing 787 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 6 | 6 | ||
Boeing 787 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 4 | 4 | ||
Boeing 787 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | 900 | |||
Number of aircraft | 14 | 12 | ||
Boeing 787 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 4 | 4 | ||
Boeing 787 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 10 | 8 | ||
Airbus A319 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | 100 | |||
Number of aircraft | 46 | 48 | ||
Airbus A319 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 37 | 36 | ||
Airbus A319 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 9 | 12 | ||
Airbus A320 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | 200 | |||
Number of aircraft | 131 | [2] | 146 | |
Airbus A320 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 93 | [2] | 93 | |
Airbus A320 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 38 | 53 | ||
Airbus A320 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | NEO | |||
Number of aircraft | 4 | 2 | ||
Airbus A320 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 1 | 1 | ||
Airbus A320 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 3 | 1 | ||
Airbus A321 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | 200 | |||
Number of aircraft | 47 | 47 | ||
Airbus A321 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 30 | 30 | ||
Airbus A321 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 17 | 17 | ||
Airbus A350 [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Model | 900 | |||
Number of aircraft | 7 | [3] | 7 | |
Airbus A350 [Member] | Aircraft Included in Property, Plant and Equipment [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 5 | [3] | 5 | |
Airbus A350 [Member] | Operating Leases [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Number of aircraft | 2 | [3] | 2 | |
[1] | Two aircraft leased to FEDEX as of December 2017; three aircraft as of December 2016. | |||
[2] | Three aircraft leased to Salam Air and one to Sundair. | |||
[3] | Four aircraft leased to Qatar Air. Two in operating leases and two in Properties, plant and equipment. |
PROPERTY, PLANT AND EQUIPMEN131
PROPERTY, PLANT AND EQUIPMENT (Details 3) | 12 Months Ended | |
Dec. 31, 2017 | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | Except for the Boeing 767 300ER and Boeing 767 300F fleets which consider a lower residual value due to the extension of their useful life to 22 and 23 years respectively. Additionally certain technical components, which are depreciated based on the basis of cycles and flight hours. The aircraft with remarketing clause (**) under modality of financial leasing, which are depreciated according to the duration of their contracts, between 12 and 18 years. Its residual values are estimated according to market value at the end of such contracts. | |
Buildings [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Method | Straight line without residual value | |
Buildings [Member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 20 | |
Buildings [Member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 50 | |
Plant and Equipment Net [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Method | Straight line with residual value of 20% in the short-haul fleet and 36% in the long-haul fleet. | |
Plant and Equipment Net [Member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 5 | [1] |
Plant and Equipment Net [Member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 23 | [1] |
Information Technology Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Method | Straight line without residual value | |
Information Technology Equipment [Member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 5 | |
Information Technology Equipment [Member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 10 | |
Fixed Installations and Accessories [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Method | Straight line without residual value | |
Fixed Installations and Accessories [Member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 10 | |
Fixed Installations and Accessories [Member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 10 | |
Motor Vehicles [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Method | Straight line without residual value | |
Motor Vehicles [Member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 10 | |
Motor Vehicles [Member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 10 | |
Leasehold Improvements [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Method | Straight line without residual value | |
Leasehold Improvements [Member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 5 | |
Leasehold Improvements [Member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 5 | |
Other Property, Plants and Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Method | Straight line with residual value of 20% in the short-haul fleet and 36% in the long-haul fleet. | |
Other Property, Plants and Equipment [Member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 10 | [1] |
Other Property, Plants and Equipment [Member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Useful life | 23 | [1] |
[1] | Except for the Boeing 767 300ER and Boeing 767 300F fleets which consider a lower residual value due to the extension of their useful life to 22 and 23 years respectively. Additionally certain technical components, which are depreciated based on the basis of cycles and flight hours. |
PROPERTY, PLANT AND EQUIPMEN132
PROPERTY, PLANT AND EQUIPMENT (Details 4) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | $ 4,178,568 | $ 4,958,831 | |
Book Value | $ 5,463,428 | 6,606,656 | |
Wilmington [Member] | Airbus A321 / A350 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 637,934 | 596,224 | |
Book Value | 721,602 | 722,979 | |
Trust Company [Member] | Boeing 767 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 593,655 | 811,723 | |
Book Value | 888,948 | 1,164,364 | |
Trust Company [Member] | Boeing 787 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 720,267 | 739,031 | |
Book Value | $ 842,127 | 899,445 | |
Banco Santander S.A. [Member] | Airbus A319 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | 50,671 | ||
Book Value | 91,889 | ||
Banco Santander S.A. [Member] | Airbus A320 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 199,165 | 462,950 | |
Book Value | 291,649 | 709,788 | |
Banco Santander S.A. [Member] | Airbus A321 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 29,296 | 32,853 | |
Book Value | $ 40,584 | 44,227 | |
JP Morgan [Member] | Boeing 777 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 169,674 | 192,671 | |
Book Value | $ 216,000 | 236,400 | |
Bank of Utah [Member] | Airbus A320/A350 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 614,632 | 670,826 | |
Book Value | $ 666,665 | 709,280 | |
Citibank N.A. [Member] | Airbus A320 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 94,882 | 111,243 | |
Book Value | 141,817 | 166,370 | |
Citibank N.A. [Member] | Airbus A321 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 36,026 | 42,867 | |
Book Value | $ 72,741 | 70,166 | |
Airbus Financial Services [Member] | Airbus A319 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 22,927 | 30,199 | |
Book Value | $ 26,973 | 33,823 | |
PK AirFinance US, Inc. [Member] | Airbus A320 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 46,500 | 54,786 | |
Book Value | $ 56,539 | 46,341 | |
Banco BBVA [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | [1] | Land and buildings | |
Existing Debt | $ 55,801 | 50,381 | |
Book Value | $ 66,876 | 69,498 | |
BNP PARIBAS [Member] | Airbus A319 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 84,767 | 134,346 | |
Book Value | 136,407 | 228,384 | |
BNP PARIBAS [Member] | Airbus A320 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 110,267 | 128,173 | |
Book Value | $ 175,650 | 181,838 | |
CREDIT AGRICOLE [Member] | Airbus A319 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 20,874 | 26,014 | |
Book Value | 38,826 | 37,389 | |
CREDIT AGRICOLE [Member] | Airbus A320 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 46,895 | 71,794 | |
Book Value | 98,098 | 144,157 | |
CREDIT AGRICOLE [Member] | Airbus A321 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 30,322 | 40,609 | |
Book Value | $ 85,463 | 93,110 | |
WELLS FARGO [Member] | Airbus A320 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 224,786 | 252,428 | |
Book Value | $ 306,660 | 333,419 | |
NATIXIS [Member] | Airbus A320 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 34,592 | 45,748 | |
Book Value | 72,388 | 66,738 | |
NATIXIS [Member] | Airbus A321 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 378,418 | 377,104 | |
Book Value | $ 481,397 | 514,625 | |
KFWIP EX-BANK [Member] | Airbus A319 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Assets committed | Aircraft and engines | ||
Existing Debt | $ 5,592 | 7,494 | |
Book Value | 5,505 | 6,360 | |
KFWIP EX-BANK [Member] | Airbus A320 [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Existing Debt | 21,296 | 28,696 | |
Book Value | $ 30,513 | $ 36,066 | |
[1] | Corresponds to a debt classified in item loans to exporters (see Note 19). |
PROPERTY, PLANT AND EQUIPMEN133
PROPERTY, PLANT AND EQUIPMENT (Details 5) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, plant and equipment [abstract] | |||
Gross book value of fully depreciated property, plant and equipment still in use | $ 136,811 | $ 116,386 | |
Commitments for the acquisition of aircraft | [1] | $ 15,400,000 | $ 15,100,000 |
[1] | Acording to the manufacturer's price list. |
PROPERTY, PLANT AND EQUIPMEN134
PROPERTY, PLANT AND EQUIPMENT (Details 6) | 12 Months Ended |
Dec. 31, 2017Aircraft | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 82 |
Manufacturer [Member] | Not Later Than One Year [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 13 |
Manufacturer [Member] | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 17 |
Manufacturer [Member] | 2020 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 18 |
Manufacturer [Member] | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 23 |
Manufacturer [Member] | 2022 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 11 |
Manufacturer [Member] | Airbus S.A.S. [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 72 |
Manufacturer [Member] | Airbus S.A.S. [Member] | Not Later Than One Year [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 13 |
Manufacturer [Member] | Airbus S.A.S. [Member] | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 1 |
Manufacturer [Member] | Airbus S.A.S. [Member] | 2020 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 16 |
Manufacturer [Member] | Airbus S.A.S. [Member] | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 21 |
Manufacturer [Member] | Airbus S.A.S. [Member] | 2022 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 11 |
Manufacturer [Member] | Airbus A320-NEO | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 32 |
Manufacturer [Member] | Airbus A320-NEO | Not Later Than One Year [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 7 |
Manufacturer [Member] | Airbus A320-NEO | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 3 |
Manufacturer [Member] | Airbus A320-NEO | 2020 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 9 |
Manufacturer [Member] | Airbus A320-NEO | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 8 |
Manufacturer [Member] | Airbus A320-NEO | 2022 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 5 |
Manufacturer [Member] | Airbus A321 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 1 |
Manufacturer [Member] | Airbus A321 [Member] | Not Later Than One Year [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | Airbus A321 [Member] | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 1 |
Manufacturer [Member] | Airbus A321 [Member] | 2020 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | Airbus A321 [Member] | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | Airbus A321 [Member] | 2022 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | Airbus A321-NEO [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 19 |
Manufacturer [Member] | Airbus A321-NEO [Member] | Not Later Than One Year [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 2 |
Manufacturer [Member] | Airbus A321-NEO [Member] | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 3 |
Manufacturer [Member] | Airbus A321-NEO [Member] | 2020 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 5 |
Manufacturer [Member] | Airbus A321-NEO [Member] | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 5 |
Manufacturer [Member] | Airbus A321-NEO [Member] | 2022 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 4 |
Manufacturer [Member] | Airbus A350-1000 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 8 |
Manufacturer [Member] | Airbus A350-1000 [Member] | Not Later Than One Year [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | Airbus A350-1000 [Member] | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | Airbus A350-1000 [Member] | 2020 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 2 |
Manufacturer [Member] | Airbus A350-1000 [Member] | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 8 |
Manufacturer [Member] | Airbus A350-1000 [Member] | 2022 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 2 |
Manufacturer [Member] | Airbus A350-900 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 6 |
Manufacturer [Member] | Airbus A350-900 [Member] | Not Later Than One Year [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 4 |
Manufacturer [Member] | Airbus A350-900 [Member] | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 4 |
Manufacturer [Member] | Airbus A350-900 [Member] | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | Airbus A350-900 [Member] | 2022 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | The Boeing Company [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 10 |
Manufacturer [Member] | The Boeing Company [Member] | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 6 |
Manufacturer [Member] | The Boeing Company [Member] | 2020 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 6 |
Manufacturer [Member] | The Boeing Company [Member] | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 2 |
Manufacturer [Member] | The Boeing Company [Member] | 2022 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 2 |
Manufacturer [Member] | Boeing 777 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 2 |
Manufacturer [Member] | Boeing 777 [Member] | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 2 |
Manufacturer [Member] | Boeing 777 [Member] | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | Boeing 777 [Member] | 2022 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | |
Manufacturer [Member] | Boeing 787-9 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 8 |
Manufacturer [Member] | Boeing 787-9 [Member] | 2019 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 4 |
Manufacturer [Member] | Boeing 787-9 [Member] | 2020 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 2 |
Manufacturer [Member] | Boeing 787-9 [Member] | 2021 [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Number of aircraft purchase | 2 |
PROPERTY, PLANT AND EQUIPMEN135
PROPERTY, PLANT AND EQUIPMENT (Details 7) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, plant and equipment [abstract] | |||
Average rate of capitalization of capitalized interest costs | 4.21% | 3.54% | 2.79% |
Costs of capitalized interest | $ 11,053 | $ (696) | $ 22,551 |
PROPERTY, PLANT AND EQUIPMEN136
PROPERTY, PLANT AND EQUIPMENT (Details 8) - Aircraft | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under financial leases | 60 | 50 |
Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 100 | |
Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Boeing 777 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Bandurria Leasing Limitd [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 100 | |
Number of aircraft under financial leases | 3 | |
Bandurria Leasing Limitd [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 4 | |
Becacina Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 1 | 1 |
Caiquen Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300F | |
Number of aircraft under financial leases | 1 | 1 |
Cernicalo Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300F | |
Number of aircraft under financial leases | 2 | |
Cisne Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 2 | 2 |
Codorniz Leasing Limited [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 100 | |
Number of aircraft under financial leases | 2 | |
Conure Leasing Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 2 | 2 |
Flamenco Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 1 | 1 |
FLYAFI 1 S.R.L. [Member] | Boeing 777 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 1 | 1 |
FLYAFI 2 S.R.L. [Member] | Boeing 777 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 1 | 1 |
FLYAFI 3 S.R.L. [Member] | Boeing 777 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 1 | 1 |
Garza Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 1 | 1 |
General Electric Capital Corporation [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 3 | |
Intraelo BETA Corpotation (KFW) [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 1 | |
Juliana Leasing Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 3 | |
Loica Leasing Limited [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 100 | |
Number of aircraft under financial leases | 2 | 2 |
Loica Leasing Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 2 | 2 |
Mirlo Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 1 | 1 |
NBB Rio de Janeiro Lease CO and Brasilia Lease LLC (BBAM) [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 1 | 1 |
NBB Sao Paulo Lease CO. Limited (BBAM) [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 1 | 1 |
Osprey Leasing Limited [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 100 | |
Number of aircraft under financial leases | 8 | 8 |
Patagon Leasing Limited [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 100 | |
Number of aircraft under financial leases | 3 | |
Petrel Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 1 | 1 |
Pilpilen Leasing Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 4 | |
Pochard Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 2 | 2 |
Quetro Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 3 | 3 |
SG Infraestructure Italia S.R.L. [Member] | Boeing 777 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 1 | 1 |
SL Alcyone LT D (Showa) [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 1 | 1 |
Torcaza Leasing Limited [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 8 | |
Tricahue Leasing LLC [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 300ER | |
Number of aircraft under financial leases | 3 | 3 |
WACAPOULEASING S.A. [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 200 | |
Number of aircraft under financial leases | 1 | 1 |
Wells Fargo Bank North National Association [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Model | 100 | |
Number of aircraft under financial leases | 1 |
PROPERTY, PLANT AND EQUIPMEN137
PROPERTY, PLANT AND EQUIPMENT (Details 9) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of finance lease and operating lease by lessee [line items] | |||
Gross Value | $ 1,176,347 | $ 1,033,703 | $ 1,459,149 |
Interest | (63,313) | (75,631) | (124,261) |
Present Value | 1,113,034 | 958,072 | 1,334,888 |
Not Later Than One Year [Member] | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Gross Value | 303,863 | 285,168 | |
Interest | (32,447) | (32,365) | (47,492) |
Present Value | 271,416 | 252,803 | 313,370 |
Between One And Five Years [Member] | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Gross Value | 835,696 | 704,822 | |
Interest | (30,050) | (43,146) | (75,363) |
Present Value | 805,646 | 661,676 | 927,874 |
Over five years | |||
Disclosure of finance lease and operating lease by lessee [line items] | |||
Gross Value | 36,788 | 43,713 | |
Interest | (816) | (120) | (1,406) |
Present Value | $ 35,972 | $ 43,593 | $ 93,644 |
PROPERTY, PLANT AND EQUIPMEN138
PROPERTY, PLANT AND EQUIPMENT (Details Narrative) $ in Thousands | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||
Aug. 31, 2016Aircraft | May 31, 2016Aircraft | Apr. 30, 2016Aircraft | Apr. 30, 2015Aircraft | Jun. 30, 2016Aircraft | Dec. 31, 2015USD ($)Aircraft | Jun. 30, 2014Aircraft | Dec. 31, 2017USD ($)Aircraft | Dec. 31, 2016USD ($)Aircraft | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Useful life | Except for the Boeing 767 300ER and Boeing 767 300F fleets which consider a lower residual value due to the extension of their useful life to 22 and 23 years respectively. Additionally certain technical components, which are depreciated based on the basis of cycles and flight hours. The aircraft with remarketing clause (**) under modality of financial leasing, which are depreciated according to the duration of their contracts, between 12 and 18 years. Its residual values are estimated according to market value at the end of such contracts. | |||||||||||||
Depreciation expenses | $ | $ (765,204) | $ (744,552) | $ (745,519) | |||||||||||
Indirect existing debt | $ | 1,087,052 | 913,494 | ||||||||||||
Indirect book value | $ | $ 2,222,620 | $ 1,740,815 | ||||||||||||
Number of aircraft | 5 | 7 | ||||||||||||
Frequency of payment | Semi-annual, quarterly and monthly payments of obligations. | |||||||||||||
Net book value | $ | $ 10,938,657 | $ 10,065,335 | $ 10,498,149 | 10,938,657 | $ 10,773,076 | |||||||||
Aircraft Purchase Agreement [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Description of aircraft purchase | the different aircraft purchase agreements signed with The Boeing Company, there are 8 Boeing 787 Dreamliner aircraft remaining, with delivery dates between 2019 and 2021, and 2 Boeing 777 aircraft, with delivery scheduled for the year 2019. | |||||||||||||
Manufacturers price property, plant and equipment | $ | $ 12,600,000 | |||||||||||||
Construction in Progress [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Depreciation expenses | $ | ||||||||||||||
Net book value | $ | $ 1,142,812 | 556,822 | [1] | 470,065 | [2] | 1,142,812 | 937,279 | |||||||
Pre-delivery payments to aircraft manufacturers | $ | $ 543,720 | $ 434,250 | ||||||||||||
Boeing 777 [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft sold | 4 | 2 | ||||||||||||
Number of aircraft | [3] | 2 | 2 | |||||||||||
Airbus A340 [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft sold | 3 | |||||||||||||
Dash-200 [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft sold | 7 | |||||||||||||
Airbus A319 [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft sold | 2 | 2 | ||||||||||||
Airbus A330 [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft sold | 2 | 6 | ||||||||||||
Airbus A320 [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft sold | 2 | |||||||||||||
Boeing 767 [Member] | FEDEX [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft leased | 3 | |||||||||||||
Boeing 777 [Member] | DHL [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft leased | 1 | |||||||||||||
Boeing 787-9 [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft | 4 | 8 | ||||||||||||
Airbus A321-NEO [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft | 4 | |||||||||||||
Number of aircraft cancelled | 12 | |||||||||||||
Airbus A350-1000 [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft | 2 | |||||||||||||
Airbus A350 [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Number of aircraft | 4 | |||||||||||||
The Boeing Company [Member] | Aircraft Purchase Contracts [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Description of aircraft purchase | A total of nine Boeing 787 Dreamliner aircraft, with delivery dates between 2017 and 2021, and two Boeing 777 with delivery expected for 2019 remain to be received. | |||||||||||||
Manufacturers price property, plant and equipment | $ | $ 2,800,000 | |||||||||||||
Other Property, Plants and Equipment [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Depreciation expenses | $ | $ (204,237) | $ (124,038) | (174,474) | |||||||||||
Number of aircraft | 60 | 50 | ||||||||||||
Net book value | $ | $ 2,129,506 | $ 2,285,363 | $ 1,828,630 | $ 2,129,506 | $ 2,503,434 | |||||||||
Financial Leasing Aircraft [Member] | ||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||
Net book value | $ | $ 2,222,620 | $ 1,753,366 | ||||||||||||
[1] | As of December 31, 2017, includes pre-delivery payments to aircraft manufacturers for ThUS$ 543,720 (ThUS$ 434,250 as of December 31, 2016). | |||||||||||||
[2] | It includes pre-delivery payments to aircraft manufacturers for ThUS$ 434,250 (ThUS$ 1,016,007 as of December 31, 2015). | |||||||||||||
[3] | One aircraft leased to DHL. |
CURRENT AND DEFERRED TAXES (Det
CURRENT AND DEFERRED TAXES (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Major components of tax expense (income) [abstract] | ||
Provisional monthly payments (advances), current assets | $ 65,257 | $ 43,821 |
Provisional monthly payments (advances), non-current assets | ||
Provisional monthly payments (advances) | 65,257 | 43,821 |
Other recoverable credits, current assets | 12,730 | 21,556 |
Other recoverable credits, non-current assets | 17,532 | 20,272 |
Other recoverable credits | 30,262 | 41,828 |
Total assets by current tax, current assets | 77,987 | 65,377 |
Total assets by current tax, non-current assets | 17,532 | 20,272 |
Total assets by current tax | $ 95,519 | $ 85,649 |
CURRENT AND DEFERRED TAXES (140
CURRENT AND DEFERRED TAXES (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Major components of tax expense (income) [abstract] | ||
Income tax provision, current liabilities | $ 3,511 | $ 9,632 |
Income tax provision, non-current liabilities | ||
Income tax provision | 3,511 | 9,632 |
Additional tax provision, current liabilities | 4,654 | |
Additional tax provision, non-current liabilities | ||
Additional tax provision | 4,654 | |
Total liabilities by current tax, current liabilities | 3,511 | 14,286 |
Total liabilities by current tax, non-current liabilities | ||
Total liabilities by current tax | $ 3,511 | $ 14,286 |
CURRENT AND DEFERRED TAXES (141
CURRENT AND DEFERRED TAXES (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets | $ 364,021 | $ 384,580 |
Liabilities | 949,697 | 915,759 |
Depreciation [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets | 210,855 | 11,735 |
Liabilities | 1,401,277 | 1,387,760 |
Leased Assets [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets | (103,201) | (35,922) |
Liabilities | 275,142 | 203,836 |
Amortization [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets | (484) | (15,820) |
Liabilities | 54,335 | 61,660 |
Provisions [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets | (9,771) | 222,253 |
Liabilities | 690 | (59,096) |
Revaluation of Financial Assets [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets | (734) | |
Liabilities | (4,484) | (3,223) |
Tax Losses [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets | 290,973 | 202,536 |
Liabilities | (1,188,586) | (1,126,200) |
Intangibles [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets | ||
Liabilities | 406,536 | 430,705 |
Others [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Assets | (23,617) | (202) |
Liabilities | $ 4,787 | $ 20,317 |
CURRENT AND DEFERRED TAXES (142
CURRENT AND DEFERRED TAXES (Details 3) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Opening balance Assets/(liabilities) | $ (531,179) | $ (434,970) | $ (644,571) | |
Recognized in consolidated income | (45,991) | (73,814) | 270,904 | |
Recognized in comprehensive income | (2,555) | (33,774) | (17,192) | |
Exchange rate variation | (5,951) | 11,733 | (37,266) | |
Others | (354) | (6,845) | ||
Ending balance Asset (liability) | (585,676) | (531,179) | (434,970) | |
Depreciation [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Opening balance Assets/(liabilities) | (1,376,025) | (1,130,991) | (871,640) | |
Recognized in consolidated income | 185,282 | (241,435) | (267,891) | |
Recognized in comprehensive income | ||||
Exchange rate variation | 322 | (3,599) | 8,540 | |
Others | ||||
Ending balance Asset (liability) | (1,190,421) | (1,376,025) | (1,130,991) | |
Leased Assets [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Opening balance Assets/(liabilities) | (239,758) | (251,302) | (185,775) | |
Recognized in consolidated income | (138,879) | 14,833 | (73,330) | |
Recognized in comprehensive income | ||||
Exchange rate variation | 294 | (3,289) | 7,803 | |
Others | ||||
Ending balance Asset (liability) | (378,343) | (239,758) | (251,302) | |
Amortization [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Opening balance Assets/(liabilities) | (77,480) | (71,164) | (160,100) | |
Recognized in consolidated income | 22,486 | (4,375) | 84,330 | |
Recognized in comprehensive income | ||||
Exchange rate variation | 174 | (1,941) | 4,606 | |
Others | ||||
Ending balance Asset (liability) | (54,820) | (77,480) | (71,164) | |
Provisions [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Opening balance Assets/(liabilities) | 281,369 | 378,537 | 351,077 | |
Recognized in consolidated income | (286,267) | (149,969) | 150,362 | |
Recognized in comprehensive income | (785) | 921 | 3,911 | |
Exchange rate variation | (4,778) | 53,448 | (126,813) | |
Others | (1,568) | |||
Ending balance Asset (liability) | (10,461) | 281,369 | 378,537 | |
Revaluation of Financial Assets [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Opening balance Assets/(liabilities) | 3,223 | 8,284 | 12,806 | |
Recognized in consolidated income | 2,417 | 28,294 | 19,760 | |
Recognized in comprehensive income | (1,770) | (34,695) | (21,103) | |
Exchange rate variation | (120) | 1,340 | (3,179) | |
Others | ||||
Ending balance Asset (liability) | 3,750 | 3,223 | 8,284 | |
Tax Losses [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Opening balance Assets/(liabilities) | [1] | 1,328,736 | 1,009,782 | 722,749 |
Recognized in consolidated income | [1] | 152,081 | 304,892 | 320,397 |
Recognized in comprehensive income | [1] | |||
Exchange rate variation | [1] | (1,257) | 14,062 | (33,364) |
Others | [1] | |||
Ending balance Asset (liability) | [1] | 1,479,560 | 1,328,736 | 1,009,782 |
Intangibles [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Opening balance Assets/(liabilities) | (430,705) | (364,314) | (523,275) | |
Recognized in consolidated income | 24,436 | 4,131 | (8,362) | |
Recognized in comprehensive income | ||||
Exchange rate variation | (267) | (70,522) | 167,323 | |
Others | ||||
Ending balance Asset (liability) | (406,536) | (430,705) | (364,314) | |
Others [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Opening balance Assets/(liabilities) | (20,539) | (13,802) | 9,587 | |
Recognized in consolidated income | (7,547) | (30,185) | 45,638 | |
Recognized in comprehensive income | ||||
Exchange rate variation | (319) | 22,234 | (62,182) | |
Others | 1,214 | (6,845) | ||
Ending balance Asset (liability) | $ (28,405) | $ (20,539) | $ (13,802) | |
[1] | On September 29, 2014, Law No. 20,780 "Amendment to the system of income taxation and introduces various adjustments in the tax system." was published in the Official Journal of the Republic of Chile. Within major tax reforms that this law contains, the First-Category Tax rate is gradually modified from 2014 to 2018 and should be declared and paid in tax year 2015. |
CURRENT AND DEFERRED TAXES (143
CURRENT AND DEFERRED TAXES (Details 4) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Major components of tax expense (income) [abstract] | |||
Tax losses | $ 81,155 | $ 115,801 | |
Total Deferred tax assets not recognized | $ 81,155 | $ 115,801 | $ 15,513 |
CURRENT AND DEFERRED TAXES (144
CURRENT AND DEFERRED TAXES (Details 5) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current tax expense | |||
Current tax expense | $ 127,024 | $ 87,307 | $ 92,916 |
Adjustment to previous period's current tax | 489 | 2,083 | (395) |
Total current tax expense, net | 127,513 | 89,390 | 92,521 |
Deferred tax expense | |||
Deferred expense for taxes related to the creation and reversal of temporary differences | 45,991 | 73,814 | (270,904) |
Reduction (increase) in value of deferred tax assets during the evaluation of its usefulness | |||
Total deferred tax expense, net | 45,991 | 73,814 | (270,904) |
Income tax expense | $ 173,504 | $ 163,204 | $ (178,383) |
CURRENT AND DEFERRED TAXES (145
CURRENT AND DEFERRED TAXES (Details 6) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total current tax expense, net | $ 127,513 | $ 89,390 | $ 92,521 |
Deferred tax expense, net, total | 45,991 | 73,814 | (270,904) |
Income tax expense | 173,504 | 163,204 | (178,383) |
Foreign [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total current tax expense, net | 100,657 | 80,600 | 89,460 |
Deferred tax expense, net, total | 21,846 | 119,175 | (280,445) |
Chile [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total current tax expense, net | 26,856 | 8,790 | 3,061 |
Deferred tax expense, net, total | $ 24,145 | $ (45,361) | $ 9,541 |
CURRENT AND DEFERRED TAXES (146
CURRENT AND DEFERRED TAXES (Details 7) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | ||||
Tax expense using the legal rate | [1] | $ 95,425 | $ 65,449 | $ (89,472) |
Tax effect by change in tax rate | [1] | 897 | ||
Tax effect of rates in other jurisdictions | 42,326 | 16,333 | (21,803) | |
Tax effect of non-taxable operating revenues | (44,593) | (62,419) | (106,381) | |
Tax effect of disallowable expenses | 35,481 | 132,469 | 38,677 | |
Tax effect of the use of tax losses not previously recognized | 211 | |||
Other increases (decreases) in legal tax charge | 43,757 | 11,372 | 596 | |
Total adjustments to tax expense using the legal rate | 78,079 | 97,755 | (88,911) | |
Tax expense using the effective rate | $ 173,504 | $ 163,204 | $ (178,383) | |
Reconciliation of average effective tax rate and applicable tax rate [abstract] | ||||
Tax expense using the legal rate, percent | [1] | 25.50% | 24.00% | 22.50% |
Tax effect by change in tax rate, percent | [1] | 0.24% | ||
Tax effect of rates in other jurisdictions, percent | 11.31% | 5.99% | 5.48% | |
Tax effect of non-taxable operating revenues, percent | (11.92%) | (22.89%) | 26.75% | |
Tax effect of disallowable expenses, percent | 9.48% | 48.58% | (9.73%) | |
Tax effect of the use of tax losses not previously recognized, percent | 0.06% | |||
Other increases (decreases) in legal tax charge, percent | 11.69% | 4.17% | (0.15%) | |
Total adjustments to tax expense using the legal rate, percent | 20.86% | 35.85% | 22.35% | |
Tax expense using the effective rate, percent | 46.36% | 59.85% | 44.85% | |
[1] | On September 29, 2014, Law No. 20,780 "Amendment to the system of income taxation and introduces various adjustments in the tax system." was published in the Official Journal of the Republic of Chile. Within major tax reforms that this law contains, the First-Category Tax rate is gradually modified from 2014 to 2018 and should be declared and paid in tax year 2015. |
CURRENT AND DEFERRED TAXES (147
CURRENT AND DEFERRED TAXES (Details 8) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Major components of tax expense (income) [abstract] | |||
Aggregate deferred taxation of components of other comprehensive income | $ (2,555) | $ (33,774) | $ (17,192) |
Aggregate deferred taxation related to items charged to net equity | $ (807) |
CURRENT AND DEFERRED TAXES (148
CURRENT AND DEFERRED TAXES (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Income tax, applicable tax rate (in percent) | [1] | 25.50% | 24.00% | 22.50% | |
Total Deferred tax assets not recognized | $ 81,155 | $ 115,801 | $ 15,513 | ||
Tax loss under deferred tax assets not recognized | $ 247,920 | $ 340,591 | $ 45,628 | ||
Changes In Tax Rates Or Tax Laws Enacted Or Announced [Member] | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Income tax, applicable tax rate (in percent) | 27.00% | 25.00% | |||
[1] | On September 29, 2014, Law No. 20,780 "Amendment to the system of income taxation and introduces various adjustments in the tax system." was published in the Official Journal of the Republic of Chile. Within major tax reforms that this law contains, the First-Category Tax rate is gradually modified from 2014 to 2018 and should be declared and paid in tax year 2015. |
OTHER FINANCIAL LIABILITIES (De
OTHER FINANCIAL LIABILITIES (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current | ||
(a) Interest bearing loans | $ 1,288,749 | $ 1,814,647 |
(b) Hedge derivatives | 12,200 | 24,881 |
Non-current | ||
(a) Interest bearing loans | 6,602,891 | 6,790,273 |
(b) Hedge derivatives | 2,617 | 6,679 |
Total non-current | 6,605,508 | 6,796,952 |
Other Financial Liabilities [Member] | ||
Current | ||
(a) Interest bearing loans | 1,288,749 | 1,814,647 |
(b) Hedge derivatives | 12,200 | 24,881 |
Total current | 1,300,949 | 1,839,528 |
Non-current | ||
(a) Interest bearing loans | 6,602,891 | 6,790,273 |
(b) Hedge derivatives | 2,617 | 6,679 |
Total non-current | $ 6,605,508 | $ 6,796,952 |
OTHER FINANCIAL LIABILITIES 150
OTHER FINANCIAL LIABILITIES (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Apr. 10, 2017 | Dec. 31, 2016 | |
Disclosure of financial liabilities [line items] | ||||
Total current | $ 1,288,749 | $ 1,814,647 | ||
Total non-current | 6,602,891 | 6,790,273 | ||
Total obligations with financial institutions | 7,891,640 | 8,604,920 | ||
Loans To Exporters [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Total current | 314,618 | 278,164 | ||
Total obligations with financial institutions | 314,619 | 278,164 | ||
Bank Loans [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Total current | [1] | 59,017 | 290,810 | |
Total non-current | 260,433 | 294,477 | ||
Total obligations with financial institutions | 321,633 | 585,287 | ||
Guaranteed Obligations [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Total current | 531,173 | 578,014 | ||
Total non-current | [2] | 3,505,669 | 4,180,538 | |
Total obligations with financial institutions | 4,036,843 | $ 140,000 | 4,758,552 | |
Other Guaranteed Obligations [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Total current | 2,170 | 1,908 | ||
Total non-current | 240,007 | 254,512 | ||
Total obligations with financial institutions | 242,175 | 256,420 | ||
Total Bank Loans [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Total current | [3] | 906,978 | 1,148,896 | |
Total non-current | 4,006,109 | 4,729,527 | ||
Obligation With The Public [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Total current | 14,785 | 312,043 | ||
Total non-current | [4],[5],[6] | 1,569,281 | 997,302 | |
Total obligations with financial institutions | 1,584,066 | 1,309,345 | ||
Financial Leases [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Total current | 276,541 | 268,040 | ||
Total non-current | 832,964 | 754,321 | ||
Total obligations with financial institutions | 1,109,504 | 1,022,361 | ||
Other Loans [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Total current | 90,445 | 85,668 | ||
Total non-current | 194,537 | 309,123 | ||
Total obligations with financial institutions | $ 282,800 | $ 394,791 | ||
[1] | On September 29, 2016 TAM Linhas Aereas S.A. obtained financing for US $ 200 million, guaranteed with 18% of the shares of Multiplus S.A., percentage adjustable depending on the shares price. Additionally, TAM obtained a Cross Currency Swap for the same amount and period, in order to convert the commitment currency from US$ to BRL. On March 30, 2017, TAM Linhas Aereas S.A. restructured the financing mentioned in the previous paragraph, modifying the nominal amount of the transaction to US $ 137 million. On September 27, 2017, TAM Linhas Aereas S.A. made the payment of capital plus interest corresponding to the last installment of the financing described above. Simultaneously, all the garments were lifted on the shares of Multiplus S.A. delivered as collateral. | |||
[2] | On April 10, 2017, the issuance and private placement of debt securities in the amount of US$ 140,000,000 was made under the current structure of the Enhanced Equipment Trust Certificates ("EETC") issued and placed the year 2015 to finance the acquisition of eleven Airbus A321-200, two Airbus A350-900 and four Boeing 787-9 with arrivals between July 2015 and April 2016. The offer is made up of Class C Certificates, which are subordinate to the Current Class A Certificates and Class B Certificates held by the Company. The term of the Class C Certificates is six years and expires in 2023. | |||
[3] | On April 25, 2017, the payment of the principal plus interest on the long-term bonds issued by the company TAM Capital Inc. for an amount of US$ 300,000,000 at an interest rate of 7.375% annual. The payment consisted of 100% of the capital, US$ 300,000,000, and interest accrued as of the date of payment for ThUS $ 11,063. | |||
[4] | On April 11, 2017, LATAM Finance Limited, a company incorporated in the Cayman Islands with limited liability and exclusively owned by LATAM Airlines Group SA, has issued and placed on the international market, pursuant to Rule 144 -A and Regulation S of the securities laws of the United States of America, long-term unsecured bonds in the amount of US$ 700,000,000, maturing in 2024 at an annual interest rate of 6.875%. | |||
[5] | On August 17, 2017, LATAM made the placement in the local market (Santiago Stock Exchange) of the Series A Bonds (BLATM-A), Series B (BLATM-B), Series C (BLATM-) C) and Series D (BLATM-D), which correspond to the first issue of bonds charged to the line inscribed in the Securities Registry of the Commission for the Financial Market ("CMF"), under number 862 for a total of UF 9,000,000. | |||
[6] | On September 1, 2017, TAM Capital 3 Inc., a company controlled indirectly by TAM S.A. through its subsidiary TAM Linhas Aereas SA, which consolidates its financial statements with LATAM, made the full advance redemption of the bonds it placed abroad on June 3, 2011, for an amount of US $ 500 million at a 8.375% rate and with an expiration date on June 3, 2021. The total redemption was partially financed with the placement of bonds in the local market described in number (5) above, and the balance, with other funds available from the Company. |
OTHER FINANCIAL LIABILITIES 151
OTHER FINANCIAL LIABILITIES (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total obligations with financial institutions | $ 7,891,640 | $ 8,604,920 |
Brazil, Brazil Real | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total obligations with financial institutions | 130 | 1,253 |
Chile, Pesos | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total obligations with financial institutions | 521,122 | 203,194 |
United States of America, Dollars | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Total obligations with financial institutions | $ 7,370,388 | $ 8,400,473 |
OTHER FINANCIAL LIABILITIES 152
OTHER FINANCIAL LIABILITIES (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of subsidiaries [line items] | |||
Total consolidated | $ 7,891,640 | $ 8,604,920 | |
TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | [1] | Foreign | |
Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | $ 482,153 | 451,906 | |
Total consolidated | 494,918 | 471,056 | |
Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 12,765 | 19,150 | |
Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 713,657 | 753,268 | |
Total consolidated | 749,815 | 1,301,967 | |
Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 36,158 | 548,699 | |
Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 2,562,843 | 2,122,383 | |
Total consolidated | 2,797,730 | 2,241,201 | |
Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 234,887 | 118,818 | |
Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 1,346,299 | 1,819,099 | |
Total consolidated | 1,420,597 | 2,543,532 | |
Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 74,298 | 724,433 | |
Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Total | 2,513,069 | 2,113,998 | |
Total consolidated | 2,513,069 | 2,155,783 | |
Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 41,785 | ||
Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 7,618,021 | 7,260,654 | |
Total consolidated | 7,976,129 | 8,713,539 | |
Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 358,108 | 1,452,885 | |
Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 508,477 | 480,920 | |
Total consolidated | 523,057 | 510,433 | |
Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 14,580 | 29,513 | |
Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 729,534 | 754,207 | |
Total consolidated | 765,692 | 1,304,214 | |
Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 36,158 | 550,007 | |
Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 2,484,733 | 2,040,524 | |
Total consolidated | 2,719,620 | 2,163,460 | |
Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 234,887 | 122,936 | |
Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 1,318,241 | 1,774,950 | |
Total consolidated | 1,392,540 | 2,502,680 | |
Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 74,299 | 727,730 | |
Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Total | 2,490,731 | 2,082,347 | |
Total consolidated | 2,490,731 | 2,124,133 | |
Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 41,786 | ||
Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | 7,531,716 | 7,132,948 | |
Total consolidated | 7,891,640 | 8,604,920 | |
Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Total | $ 359,924 | $ 1,471,972 | |
BBVA [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97.032.000-8 | 97.032.000-8 | |
Creditor country | Chile | Chile | |
Currency | US$ | US$ | |
Amortization | At Expiration | At Expiration | |
Effective rate % | 2.30% | 1.85% | |
Nominal rate % | 2.30% | 1.85% | |
BBVA [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 75,000 | $ 75,000 | |
BBVA [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 75,000 | 75,000 | |
BBVA [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 75,781 | 75,234 | |
BBVA [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 75,781 | $ 75,234 | |
BBVA [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97.032.000-8 | 97.032.000-8 | |
Creditor country | Chile | Chile | |
Currency | UF | UF | |
Amortization | At Expiration | At Expiration | |
Effective rate % | 3.57% | 5.23% | |
Nominal rate % | 2.77% | 4.43% | |
BBVA [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 50,381 | ||
BBVA [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 50,381 | ||
BBVA [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 50,324 | ||
BBVA [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BBVA [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 50,324 | ||
SANTANDER [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97.036.000-K | 97.036.000-K | |
Creditor country | Chile | Chile | |
Currency | US$ | US$ | |
Amortization | At Expiration | At Expiration | |
Effective rate % | 2.49% | 2.39% | |
Nominal rate % | 2.49% | 2.39% | |
SANTANDER [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 30,000 | ||
SANTANDER [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 55,801 | ||
SANTANDER [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
SANTANDER [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
SANTANDER [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
SANTANDER [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 55,801 | 30,000 | |
SANTANDER [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 30,183 | ||
SANTANDER [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 55,934 | ||
SANTANDER [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
SANTANDER [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
SANTANDER [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
SANTANDER [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 55,934 | $ 30,183 | |
ESTADO [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97.030.000-7 | 97.030.000-7 | |
Creditor country | Chile | Chile | |
Currency | US$ | US$ | |
Amortization | At Expiration | At Expiration | |
Effective rate % | 23.47% | 1.91% | |
Nominal rate % | 23.47% | 1.91% | |
ESTADO [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 30,000 | $ 40,000 | |
ESTADO [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
ESTADO [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
ESTADO [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
ESTADO [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
ESTADO [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 30,000 | 40,000 | |
ESTADO [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 30,129 | 40,098 | |
ESTADO [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
ESTADO [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
ESTADO [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
ESTADO [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
ESTADO [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 30,129 | $ 40,098 | |
BANCO DO BRASIL [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97,003,000-K | 97.003.000-K | |
Creditor country | Chile | Chile | |
Currency | US$ | US$ | |
Amortization | At Expiration | At Expiration | |
Effective rate % | 2.40% | 3.08% | |
Nominal rate % | 2.40% | 3.08% | |
BANCO DO BRASIL [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 100,000 | $ 70,000 | |
BANCO DO BRASIL [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BANCO DO BRASIL [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BANCO DO BRASIL [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BANCO DO BRASIL [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BANCO DO BRASIL [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 100,000 | 70,000 | |
BANCO DO BRASIL [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 100,696 | 70,323 | |
BANCO DO BRASIL [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BANCO DO BRASIL [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BANCO DO BRASIL [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BANCO DO BRASIL [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
BANCO DO BRASIL [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 100,696 | $ 70,323 | |
HSBC [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97.951.000-4 | 97.951.000-4 | |
Creditor country | Chile | Chile | |
Currency | US$ | US$ | |
Amortization | At Expiration | At Expiration | |
Effective rate % | 2.03% | 1.79% | |
Nominal rate % | 2.03% | 1.79% | |
HSBC [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 12,000 | $ 12,000 | |
HSBC [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
HSBC [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
HSBC [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
HSBC [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
HSBC [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 12,000 | 12,000 | |
HSBC [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 12,007 | 12,002 | |
HSBC [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
HSBC [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
HSBC [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
HSBC [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
HSBC [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 12,007 | $ 12,002 | |
CHILE [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 40,000 | ||
CHILE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
CHILE [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
CHILE [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
CHILE [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
CHILE [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 40,000 | ||
CHILE [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | 40,071 | ||
CHILE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
CHILE [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
CHILE [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
CHILE [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | |||
CHILE [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Loans to exporters | $ 40,071 | ||
CORP BANCA [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97.023.000-9 | 97.023.000-9 | |
Creditor country | Chile | Chile | |
Currency | UF | UF | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 3.68% | 4.06% | |
Nominal rate % | 3.68% | 4.06% | |
CORP BANCA [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | $ 21,298 | $ 19,229 | |
CORP BANCA [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 21,360 | 57,686 | |
CORP BANCA [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 42,006 | 60,186 | |
CORP BANCA [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 16,254 | ||
CORP BANCA [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
CORP BANCA [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 84,664 | 153,355 | |
CORP BANCA [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 21,542 | 19,819 | |
CORP BANCA [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 21,360 | 57,686 | |
CORP BANCA [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 41,548 | 59,176 | |
CORP BANCA [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 16,189 | ||
CORP BANCA [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
CORP BANCA [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | $ 84,450 | $ 152,870 | |
BLADEX [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Semiannual | Semiannual | |
Effective rate % | 5.51% | 5.14% | |
Nominal rate % | 5.51% | 5.14% | |
BLADEX [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
BLADEX [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 15,000 | 12,500 | |
BLADEX [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 15,000 | 30,000 | |
BLADEX [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
BLADEX [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
BLADEX [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 30,000 | 42,500 | |
BLADEX [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
BLADEX [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 15,133 | 12,667 | |
BLADEX [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 14,750 | 29,625 | |
BLADEX [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
BLADEX [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
BLADEX [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | $ 29,883 | $ 42,292 | |
DVB BANK SE [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | U.S.A. | ||
Currency | US$ | ||
Amortization | Quarterly | ||
Effective rate % | 1.86% | ||
Nominal rate % | 1.86% | ||
DVB BANK SE [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
DVB BANK SE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
DVB BANK SE [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 28,911 | ||
DVB BANK SE [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
DVB BANK SE [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
DVB BANK SE [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 28,911 | ||
DVB BANK SE [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 3 | ||
DVB BANK SE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
DVB BANK SE [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 28,911 | ||
DVB BANK SE [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
DVB BANK SE [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
DVB BANK SE [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | $ 28,914 | ||
SANTANDER [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97.036.000-K | 97.036.000-K | |
Creditor country | Chile | Chile | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 4.41% | 3.55% | |
Nominal rate % | 4.41% | 3.55% | |
SANTANDER [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
SANTANDER [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
SANTANDER [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 202,284 | 158,194 | |
SANTANDER [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
SANTANDER [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
SANTANDER [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 202,284 | 158,194 | |
SANTANDER [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 439 | 542 | |
SANTANDER [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
SANTANDER [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 202,284 | 158,194 | |
SANTANDER [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
SANTANDER [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
SANTANDER [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | $ 202,723 | $ 158,736 | |
BANK OF NEWYORK [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | At Expiration | At Expiration | |
Effective rate % | 7.44% | 7.77% | |
Nominal rate % | 7.03% | 7.25% | |
BANK OF NEWYORK [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
BANK OF NEWYORK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
BANK OF NEWYORK [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 500,000 | ||
BANK OF NEWYORK [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 500,000 | ||
BANK OF NEWYORK [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 700,000 | ||
BANK OF NEWYORK [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 1,200,000 | 500,000 | |
BANK OF NEWYORK [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 2,291 | ||
BANK OF NEWYORK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 13,047 | ||
BANK OF NEWYORK [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 492,745 | ||
BANK OF NEWYORK [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 489,885 | ||
BANK OF NEWYORK [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 697,536 | ||
BANK OF NEWYORK [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | $ 1,203,328 | $ 492,176 | |
CREDIT AGRICOLE [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | France | France | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 2.66% | 2.21% | |
Nominal rate % | 2.22% | 1.81% | |
CREDIT AGRICOLE [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 7,767 | $ 11,073 | |
CREDIT AGRICOLE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 23,840 | 29,252 | |
CREDIT AGRICOLE [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 54,074 | 62,209 | |
CREDIT AGRICOLE [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 12,410 | 32,172 | |
CREDIT AGRICOLE [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 3,711 | ||
CREDIT AGRICOLE [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 98,091 | 138,417 | |
CREDIT AGRICOLE [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 8,101 | 11,454 | |
CREDIT AGRICOLE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 23,840 | 29,252 | |
CREDIT AGRICOLE [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 52,924 | 60,781 | |
CREDIT AGRICOLE [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 12,026 | 31,221 | |
CREDIT AGRICOLE [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 3,631 | ||
CREDIT AGRICOLE [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 96,891 | $ 136,339 | |
BNP PARIBAS [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 3.41% | 2.97% | |
Nominal rate % | 3.40% | 2.96% | |
BNP PARIBAS [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 10,929 | $ 10,496 | |
BNP PARIBAS [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 44,145 | 42,401 | |
BNP PARIBAS [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 114,800 | 111,962 | |
BNP PARIBAS [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 119,948 | 118,181 | |
BNP PARIBAS [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 285,399 | 345,078 | |
BNP PARIBAS [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 575,221 | 628,118 | |
BNP PARIBAS [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 13,328 | 12,792 | |
BNP PARIBAS [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 44,781 | 43,023 | |
BNP PARIBAS [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 111,319 | 108,271 | |
BNP PARIBAS [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 117,987 | 116,067 | |
BNP PARIBAS [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 282,714 | 341,481 | |
BNP PARIBAS [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 570,129 | $ 621,634 | |
WELLS FARGO [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 2.27% | 2.37% | |
Nominal rate % | 1.75% | 1.68% | |
WELLS FARGO [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 27,223 | $ 31,448 | |
WELLS FARGO [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 82,402 | 95,186 | |
WELLS FARGO [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 225,221 | 260,112 | |
WELLS FARGO [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 233,425 | 269,512 | |
WELLS FARGO [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 240,716 | 400,087 | |
WELLS FARGO [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 808,987 | 1,056,345 | |
WELLS FARGO [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 30,143 | 35,211 | |
WELLS FARGO [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 82,402 | 95,186 | |
WELLS FARGO [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 203,371 | 233,012 | |
WELLS FARGO [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 224,295 | 257,387 | |
WELLS FARGO [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 236,179 | 391,253 | |
WELLS FARGO [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 776,390 | $ 1,012,049 | |
WILMINGTON TRUST [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 4.48% | 4.25% | |
Nominal rate % | 4.48% | 4.25% | |
WILMINGTON TRUST [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 20,427 | $ 15,554 | |
WILMINGTON TRUST [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 61,669 | 49,236 | |
WILMINGTON TRUST [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 175,334 | 135,254 | |
WILMINGTON TRUST [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 183,332 | 140,848 | |
WILMINGTON TRUST [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 594,091 | 626,444 | |
WILMINGTON TRUST [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 1,034,853 | 967,336 | |
WILMINGTON TRUST [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 26,614 | 20,997 | |
WILMINGTON TRUST [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 61,669 | 49,236 | |
WILMINGTON TRUST [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 169,506 | 130,792 | |
WILMINGTON TRUST [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 180,520 | 138,455 | |
WILMINGTON TRUST [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 590,723 | 622,153 | |
WILMINGTON TRUST [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 1,029,032 | $ 961,633 | |
CITIBANK [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 3.31% | 2.72% | |
Nominal rate % | 2.47% | 1.96% | |
CITIBANK [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 11,994 | $ 17,495 | |
CITIBANK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 36,501 | 53,162 | |
CITIBANK [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 101,230 | 146,932 | |
CITIBANK [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 104,308 | 154,774 | |
CITIBANK [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 97,184 | 175,805 | |
CITIBANK [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 351,217 | 548,168 | |
CITIBANK [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 13,231 | 19,059 | |
CITIBANK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 36,501 | 53,162 | |
CITIBANK [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 95,208 | 138,257 | |
CITIBANK [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 101,558 | 150,891 | |
CITIBANK [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 94,807 | 172,087 | |
CITIBANK [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 341,305 | $ 533,456 | |
AIRBUS FINANCIAL [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97.036.000-K | ||
Creditor country | Chile | ||
Currency | US$ | ||
Amortization | Quarterly | ||
Effective rate % | 1.98% | ||
Nominal rate % | 1.44% | ||
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 5,347 | ||
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 16,204 | ||
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 44,472 | ||
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 46,386 | ||
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 26,165 | ||
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 138,574 | ||
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 5,680 | ||
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 16,204 | ||
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 42,707 | ||
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 45,815 | ||
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 26,063 | ||
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 136,469 | ||
BTMU [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 2.87% | 2.31% | |
Nominal rate % | 2.27% | 1.72% | |
BTMU [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 2,856 | $ 2,787 | |
BTMU [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 8,689 | 8,470 | |
BTMU [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 24,007 | 23,393 | |
BTMU [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 25,278 | 24,635 | |
BTMU [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 13,904 | 26,705 | |
BTMU [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 74,734 | 85,990 | |
BTMU [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 3,082 | 3,001 | |
BTMU [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 8,689 | 8,470 | |
BTMU [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 22,955 | 22,132 | |
BTMU [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 24,941 | 24,149 | |
BTMU [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 13,849 | 26,519 | |
BTMU [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 73,516 | $ 84,271 | |
APPLE BANK [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 2.78% | 2.29% | |
Nominal rate % | 2.18% | 1.69% | |
APPLE BANK [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 1,401 | $ 1,364 | |
APPLE BANK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 4,278 | 4,167 | |
APPLE BANK [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 11,828 | 11,516 | |
APPLE BANK [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 12,474 | 12,146 | |
APPLE BANK [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 7,242 | 13,561 | |
APPLE BANK [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 37,223 | 42,754 | |
APPLE BANK [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 1,583 | 1,538 | |
APPLE BANK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 4,278 | 4,166 | |
APPLE BANK [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 11,303 | 10,889 | |
APPLE BANK [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 12,303 | 11,902 | |
APPLE BANK [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 7,212 | 13,464 | |
APPLE BANK [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 36,679 | $ 41,959 | |
US BANK [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 4.00% | 3.99% | |
Nominal rate % | 2.82% | 2.81% | |
US BANK [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 15,157 | $ 14,817 | |
US BANK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 45,992 | 44,958 | |
US BANK [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 126,550 | 123,705 | |
US BANK [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 132,441 | 129,462 | |
US BANK [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 152,693 | 219,666 | |
US BANK [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 472,833 | 532,608 | |
US BANK [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 17,364 | 17,298 | |
US BANK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 45,992 | 44,958 | |
US BANK [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 109,705 | 104,709 | |
US BANK [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 125,006 | 120,509 | |
US BANK [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 148,318 | 211,895 | |
US BANK [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 446,385 | $ 499,369 | |
DEUTSCHE BANK [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 4.39% | 3.86% | |
Nominal rate % | 4.39% | 3.86% | |
DEUTSCHE BANK [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 2,965 | $ 4,992 | |
DEUTSCHE BANK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 9,127 | 15,365 | |
DEUTSCHE BANK [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 25,826 | 24,725 | |
DEUTSCHE BANK [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 28,202 | 26,984 | |
DEUTSCHE BANK [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 30,786 | 45,197 | |
DEUTSCHE BANK [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 96,906 | 117,263 | |
DEUTSCHE BANK [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 3,534 | 5,570 | |
DEUTSCHE BANK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 9,127 | 24,023 | |
DEUTSCHE BANK [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 25,130 | 15,365 | |
DEUTSCHE BANK [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 27,739 | 26,515 | |
DEUTSCHE BANK [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 30,323 | 44,522 | |
DEUTSCHE BANK [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 95,853 | $ 115,995 | |
NATIXIS [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | France | France | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 3.42% | 2.60% | |
Nominal rate % | 3.40% | 2.57% | |
NATIXIS [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 14,645 | $ 12,289 | |
NATIXIS [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 44,627 | 37,388 | |
NATIXIS [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 107,068 | 98,873 | |
NATIXIS [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 91,823 | 82,066 | |
NATIXIS [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 154,848 | 192,235 | |
NATIXIS [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 413,011 | 422,851 | |
NATIXIS [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 15,642 | 13,038 | |
NATIXIS [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 44,627 | 37,388 | |
NATIXIS [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 105,056 | 97,469 | |
NATIXIS [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 90,823 | 81,130 | |
NATIXIS [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 153,124 | 190,048 | |
NATIXIS [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 409,272 | $ 419,073 | |
PK AIRFINANCE [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Monthly | Monthly | |
Effective rate % | 3.18% | 2.40% | |
Nominal rate % | 3.18% | 2.40% | |
PK AIRFINANCE [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 2,163 | $ 2,018 | |
PK AIRFINANCE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 6,722 | 6,268 | |
PK AIRFINANCE [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 19,744 | 18,413 | |
PK AIRFINANCE [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 17,871 | 24,944 | |
PK AIRFINANCE [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 3,144 | ||
PK AIRFINANCE [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 46,500 | 54,787 | |
PK AIRFINANCE [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 2,225 | 2,071 | |
PK AIRFINANCE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 6,722 | 6,269 | |
PK AIRFINANCE [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 19,744 | 18,412 | |
PK AIRFINANCE [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 17,871 | 24,944 | |
PK AIRFINANCE [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 3,144 | ||
PK AIRFINANCE [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 46,562 | $ 54,840 | |
KFW IPEX-BANK [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | Germany | Germany | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 3.31% | 2.55% | |
Nominal rate % | 3.31% | 2.55% | |
KFW IPEX-BANK [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 2,397 | $ 2,288 | |
KFW IPEX-BANK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 6,678 | 7,015 | |
KFW IPEX-BANK [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 16,173 | 17,869 | |
KFW IPEX-BANK [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 1,640 | 9,019 | |
KFW IPEX-BANK [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | |||
KFW IPEX-BANK [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 26,888 | 36,191 | |
KFW IPEX-BANK [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 2,428 | 2,319 | |
KFW IPEX-BANK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 6,677 | 7,015 | |
KFW IPEX-BANK [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 16,174 | 17,869 | |
KFW IPEX-BANK [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 1,640 | 9,019 | |
KFW IPEX-BANK [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | |||
KFW IPEX-BANK [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 26,919 | $ 36,222 | |
AIRBUS FINANCIAL [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Monthly | Monthly | |
Effective rate % | 3.19% | 2.49% | |
Nominal rate % | 3.19% | 2.49% | |
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 1,855 | $ 1,797 | |
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 5,654 | 5,476 | |
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 15,416 | 15,262 | |
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 7,664 | ||
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | |||
AIRBUS FINANCIAL [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 22,925 | 30,199 | |
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 1,900 | 1,841 | |
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 5,654 | 5,477 | |
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 15,416 | 15,261 | |
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 7,664 | ||
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | |||
AIRBUS FINANCIAL [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 22,970 | $ 30,243 | |
INVESTEC [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A | England | |
Currency | US$ | US$ | |
Amortization | Semiannual | Semiannual | |
Effective rate % | 6.04% | 5.67% | |
Nominal rate % | 6.04% | 5.67% | |
INVESTEC [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 1,298 | ||
INVESTEC [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 7,526 | ||
INVESTEC [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 19,290 | ||
INVESTEC [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 21,667 | ||
INVESTEC [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 22,421 | ||
INVESTEC [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 72,202 | ||
INVESTEC [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 1,771 | ||
INVESTEC [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 7,733 | ||
INVESTEC [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 18,533 | ||
INVESTEC [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 21,368 | ||
INVESTEC [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 22,309 | ||
INVESTEC [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 71,714 | ||
SWAP Aviones llegados [Member] | |||
Disclosure of subsidiaries [line items] | |||
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
SWAP Aviones llegados [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | $ 301 | $ 403 | |
SWAP Aviones llegados [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 749 | 1,067 | |
SWAP Aviones llegados [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 765 | 1,658 | |
SWAP Aviones llegados [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 158 | ||
SWAP Aviones llegados [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | |||
SWAP Aviones llegados [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 1,815 | 3,286 | |
SWAP Aviones llegados [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 301 | 403 | |
SWAP Aviones llegados [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 749 | 1,067 | |
SWAP Aviones llegados [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 765 | 1,658 | |
SWAP Aviones llegados [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 158 | ||
SWAP Aviones llegados [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | |||
SWAP Aviones llegados [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | 1,815 | $ 3,286 | |
AIRBUS FINANCIAL 1 [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | |||
AIRBUS FINANCIAL 1 [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Guaranteed Obligations | |||
CREDIT AGRICOLE [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | France | ||
Currency | US$ | ||
Amortization | Quarterly | ||
Effective rate % | 2.85% | ||
Nominal rate % | 2.85% | ||
CREDIT AGRICOLE [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
CREDIT AGRICOLE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
CREDIT AGRICOLE [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | 256,860 | ||
CREDIT AGRICOLE [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
CREDIT AGRICOLE [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
CREDIT AGRICOLE [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | 256,860 | ||
CREDIT AGRICOLE [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | 1,908 | ||
CREDIT AGRICOLE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
CREDIT AGRICOLE [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | 254,512 | ||
CREDIT AGRICOLE [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
CREDIT AGRICOLE [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
CREDIT AGRICOLE [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | $ 256,420 | ||
DVB BANK SE [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | U.S.A. | ||
Currency | US$ | ||
Amortization | Quarterly | ||
Effective rate % | 3.38% | ||
Nominal rate % | 3.38% | ||
DVB BANK SE [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
DVB BANK SE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
DVB BANK SE [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | 241,287 | ||
DVB BANK SE [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
DVB BANK SE [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
DVB BANK SE [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | 241,287 | ||
DVB BANK SE [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | 2,170 | ||
DVB BANK SE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
DVB BANK SE [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | 240,007 | ||
DVB BANK SE [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
DVB BANK SE [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | |||
DVB BANK SE [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other guaranteed obligations | $ 242,177 | ||
ING [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 5.13% | 5.62% | |
Nominal rate % | 4.57% | 4.96% | |
ING [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 5,347 | $ 5,089 | |
ING [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 10,779 | 15,653 | |
ING [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 26,831 | 31,151 | |
ING [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 11,805 | ||
ING [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
ING [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 42,957 | 63,698 | |
ING [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 5,717 | 5,641 | |
ING [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 10,779 | 15,652 | |
ING [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 26,500 | 30,577 | |
ING [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 11,771 | ||
ING [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
ING [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 42,996 | $ 63,641 | |
CREDITAGRICOLE [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | France | France | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 1.28% | 1.85% | |
Nominal rate % | 1.28% | 1.85% | |
CREDITAGRICOLE [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 1,754 | ||
CREDITAGRICOLE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 5,403 | ||
CREDITAGRICOLE [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
CREDITAGRICOLE [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
CREDITAGRICOLE [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
CREDITAGRICOLE [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 7,157 | ||
CREDITAGRICOLE [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 1,780 | ||
CREDITAGRICOLE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 5,403 | ||
CREDITAGRICOLE [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
CREDITAGRICOLE [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
CREDITAGRICOLE [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
CREDITAGRICOLE [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 7,183 | ||
CITIBANK [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 6.40% | 6.40% | |
Nominal rate % | 5.67% | 5.67% | |
CITIBANK [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 11,206 | $ 4,956 | |
CITIBANK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 34,267 | 15,312 | |
CITIBANK [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 86,085 | 44,177 | |
CITIBANK [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 49,853 | 13,804 | |
CITIBANK [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,863 | ||
CITIBANK [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 184,274 | 78,249 | |
CITIBANK [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 12,013 | 5,622 | |
CITIBANK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 34,267 | 15,312 | |
CITIBANK [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 84,104 | 43,413 | |
CITIBANK [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 49,516 | 13,762 | |
CITIBANK [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,859 | ||
CITIBANK [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 182,759 | $ 78,109 | |
PEFCO [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 5.37% | 5.39% | |
Nominal rate % | 4.77% | 4.79% | |
PEFCO [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 12,526 | $ 15,979 | |
PEFCO [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 32,850 | 47,048 | |
PEFCO [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 22,407 | 63,957 | |
PEFCO [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 3,827 | ||
PEFCO [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
PEFCO [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 67,783 | 130,811 | |
PEFCO [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 12,956 | 16,852 | |
PEFCO [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 32,850 | 47,048 | |
PEFCO [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 22,088 | 63,072 | |
PEFCO [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 3,819 | ||
PEFCO [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
PEFCO [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 67,894 | $ 130,791 | |
BNP PARIBAS [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 4.08% | 3.69% | |
Nominal rate % | 3.64% | 3.26% | |
BNP PARIBAS [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 13,146 | $ 12,520 | |
BNP PARIBAS [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 33,840 | 38,494 | |
BNP PARIBAS [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 48,823 | 75,958 | |
BNP PARIBAS [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,296 | 22,147 | |
BNP PARIBAS [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BNP PARIBAS [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 98,105 | 149,119 | |
BNP PARIBAS [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 13,548 | 13,122 | |
BNP PARIBAS [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 33,840 | 38,494 | |
BNP PARIBAS [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 48,253 | 74,776 | |
BNP PARIBAS [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,293 | 22,079 | |
BNP PARIBAS [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BNP PARIBAS [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 97,934 | $ 148,471 | |
WELLS FARGO [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 3.98% | 3.98% | |
Nominal rate % | 3.54% | 3.54% | |
WELLS FARGO [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 10,630 | $ 4,678 | |
WELLS FARGO [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 33,866 | 14,261 | |
WELLS FARGO [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 91,162 | 39,862 | |
WELLS FARGO [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 64,471 | 42,663 | |
WELLS FARGO [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 20,984 | 1,862 | |
WELLS FARGO [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 221,113 | 103,326 | |
WELLS FARGO [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 11,460 | 5,018 | |
WELLS FARGO [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 33,866 | 14,260 | |
WELLS FARGO [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 88,674 | 38,834 | |
WELLS FARGO [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 63,860 | 42,430 | |
WELLS FARGO [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 20,903 | 1,861 | |
WELLS FARGO [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 218,763 | $ 102,403 | |
DVB BANK SE [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 2.06% | 2.57% | |
Nominal rate % | 2.06% | 2.57% | |
DVB BANK SE [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 4,680 | ||
DVB BANK SE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 9,447 | ||
DVB BANK SE [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 14,127 | ||
DVB BANK SE [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 4,713 | ||
DVB BANK SE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 9,448 | ||
DVB BANK SE [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 14,161 | ||
RRP ENGINE [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | England | ||
Currency | US$ | ||
Amortization | Monthly | ||
Effective rate % | 2.35% | ||
Nominal rate % | 2.35% | ||
RRP ENGINE [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | $ 265 | ||
Financial leases | |||
RRP ENGINE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 2,430 | ||
Financial leases | |||
RRP ENGINE [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 6,856 | ||
Financial leases | 6,402 | ||
RRP ENGINE [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 7,441 | ||
Financial leases | 6,955 | ||
RRP ENGINE [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 8,991 | ||
Financial leases | 11,917 | ||
RRP ENGINE [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 25,983 | ||
Financial leases | 25,274 | ||
RRP ENGINE [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 265 | ||
Financial leases | |||
RRP ENGINE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 2,430 | ||
Financial leases | |||
RRP ENGINE [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 6,856 | ||
Financial leases | 6,402 | ||
RRP ENGINE [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 7,441 | ||
Financial leases | 6,955 | ||
RRP ENGINE [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 8,991 | ||
Financial leases | 11,917 | ||
RRP ENGINE [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | $ 25,983 | ||
Financial leases | $ 25,274 | ||
BANC OF AMERICA [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | U.S.A. | ||
Currency | US$ | ||
Amortization | Monthly | ||
Effective rate % | 1.41% | ||
Nominal rate % | 1.41% | ||
BANC OF AMERICA [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 674 | ||
BANC OF AMERICA [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,096 | ||
BANC OF AMERICA [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANC OF AMERICA [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANC OF AMERICA [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANC OF AMERICA [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,770 | ||
BANC OF AMERICA [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 676 | ||
BANC OF AMERICA [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,096 | ||
BANC OF AMERICA [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANC OF AMERICA [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANC OF AMERICA [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANC OF AMERICA [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,772 | ||
SANTANDER [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 5,459 | ||
SANTANDER [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 16,542 | ||
SANTANDER [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 45,416 | ||
SANTANDER [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 46,472 | ||
SANTANDER [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 3,134 | ||
SANTANDER [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 117,023 | ||
SANTANDER [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 5,813 | ||
SANTANDER [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 16,542 | ||
SANTANDER [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 44,010 | ||
SANTANDER [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 46,153 | ||
SANTANDER [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 3,128 | ||
SANTANDER [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 115,646 | ||
BOEING [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | At Expiration | At Expiration | |
Effective rate % | 1.80% | 2.35% | |
Nominal rate % | 1.80% | 2.35% | |
BOEING [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | $ 21,822 | ||
BOEING [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 67,859 | ||
BOEING [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 196,210 | 26,214 | |
BOEING [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | |||
BOEING [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Other loans | |||
BOEING [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 285,891 | 26,214 | |
BOEING [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 22,586 | 185 | |
BOEING [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 67,859 | ||
BOEING [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 194,537 | 26,214 | |
BOEING [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | |||
BOEING [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Other loans | |||
BOEING [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | $ 284,982 | $ 26,399 | |
CITIBANK [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | U.S.A. | U.S.A. | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 6.00% | 6.00% | |
Nominal rate % | 6.00% | 6.00% | |
CITIBANK [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | $ 19,361 | $ 20,555 | |
CITIBANK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 60,251 | 63,942 | |
CITIBANK [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 174,178 | 184,866 | |
CITIBANK [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 196,210 | 101,026 | |
CITIBANK [Member] | Nominal Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Other loans | |||
CITIBANK [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 450,000 | 370,389 | |
CITIBANK [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 20,485 | 21,541 | |
CITIBANK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 60,251 | 63,942 | |
CITIBANK [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 174,178 | 182,043 | |
CITIBANK [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | 192,932 | 100,866 | |
CITIBANK [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Other loans | |||
CITIBANK [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other loans | $ 447,846 | $ 368,392 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | Holland | Holland | |
Currency | US$ | US$ | |
Amortization | Monthly | Monthly | |
Effective rate % | 6.01% | 6.01% | |
Nominal rate % | 6.01% | 6.01% | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | $ 130 | $ 122 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 401 | 378 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 1,161 | 1,094 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 690 | 1,234 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 54 | ||
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 2,382 | 2,882 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 142 | 137 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 401 | 378 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 1,161 | 1,094 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 690 | 1,233 | |
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 55 | ||
NEDERLANDSCHE CREDIETVER ZEKER ING MAATS CHAPPIJ [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | $ 2,394 | $ 2,897 | |
CITIBANK [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | U.S.A | ||
Currency | US$ | ||
Amortization | At Expiration | ||
Effective rate % | 3.39% | ||
Nominal rate % | 3.14% | ||
CITIBANK [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
CITIBANK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 200,000 | ||
CITIBANK [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
CITIBANK [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
CITIBANK [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
CITIBANK [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 200,000 | ||
CITIBANK [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | (151) | ||
CITIBANK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | 199,729 | ||
CITIBANK [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
CITIBANK [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
CITIBANK [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | |||
CITIBANK [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Bank loans | $ 199,578 | ||
THE BANK OF NEW YORK [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | U.S.A | ||
Currency | US$ | ||
Amortization | At Expiration | ||
Effective rate % | 8.17% | ||
Nominal rate % | 8.00% | ||
THE BANK OF NEW YORK [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
THE BANK OF NEW YORK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 300,000 | ||
THE BANK OF NEW YORK [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
THE BANK OF NEW YORK [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 500,000 | ||
THE BANK OF NEW YORK [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
THE BANK OF NEW YORK [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 800,000 | ||
THE BANK OF NEW YORK [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 8,173 | ||
THE BANK OF NEW YORK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 301,579 | ||
THE BANK OF NEW YORK [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 4,119 | ||
THE BANK OF NEW YORK [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 503,298 | ||
THE BANK OF NEW YORK [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
THE BANK OF NEW YORK [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | $ 817,169 | ||
AFS INVESTMENT IX LLC [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | U.S.A | ||
Currency | US$ | ||
Amortization | Monthly | ||
Effective rate % | 1.25% | ||
Nominal rate % | 1.25% | ||
AFS INVESTMENT IX LLC [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 2,086 | ||
AFS INVESTMENT IX LLC [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 6,437 | ||
AFS INVESTMENT IX LLC [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 18,556 | ||
AFS INVESTMENT IX LLC [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 8,369 | ||
AFS INVESTMENT IX LLC [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
AFS INVESTMENT IX LLC [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 35,448 | ||
AFS INVESTMENT IX LLC [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,253 | ||
AFS INVESTMENT IX LLC [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 6,437 | ||
AFS INVESTMENT IX LLC [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 18,556 | ||
AFS INVESTMENT IX LLC [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 8,369 | ||
AFS INVESTMENT IX LLC [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
AFS INVESTMENT IX LLC [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 35,615 | ||
DVB BANK SE [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | U.S.A | ||
Currency | US$ | ||
Amortization | Monthly | ||
Effective rate % | 2.50% | ||
Nominal rate % | 2.50% | ||
DVB BANK SE [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 118 | ||
DVB BANK SE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 164 | ||
DVB BANK SE [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 282 | ||
DVB BANK SE [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 119 | ||
DVB BANK SE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 164 | ||
DVB BANK SE [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
DVB BANK SE [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 283 | ||
KFW IPEX BANK [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | Germany | ||
Currency | US$ | ||
Amortization | Monthly/Quarterly | ||
Effective rate % | 2.80% | ||
Nominal rate % | 2.80% | ||
KFW IPEX BANK [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 579 | ||
KFW IPEX BANK [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 1,544 | ||
KFW IPEX BANK [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
KFW IPEX BANK [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
KFW IPEX BANK [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
KFW IPEX BANK [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,123 | ||
KFW IPEX BANK [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 583 | ||
KFW IPEX BANK [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 1,544 | ||
KFW IPEX BANK [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
KFW IPEX BANK [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
KFW IPEX BANK [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
KFW IPEX BANK [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 2,127 | ||
NATIXIS [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | France | France | |
Currency | US$ | US$ | |
Amortization | Quarterly/Semiannual | Quarterly/Semiannual | |
Effective rate % | 5.59% | 4.90% | |
Nominal rate % | 5.59% | 4.90% | |
NATIXIS [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 2,853 | $ 2,675 | |
NATIXIS [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 6,099 | 5,732 | |
NATIXIS [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 19,682 | 18,485 | |
NATIXIS [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 70,402 | 38,820 | |
NATIXIS [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 41,731 | ||
NATIXIS [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 99,036 | 107,443 | |
NATIXIS [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 3,592 | 3,533 | |
NATIXIS [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 6,099 | 5,732 | |
NATIXIS [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 19,682 | 18,485 | |
NATIXIS [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 70,402 | 38,820 | |
NATIXIS [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 41,731 | ||
NATIXIS [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 99,775 | $ 108,301 | |
WACAPOULEASING S.A. [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | Luxemburg | Luxemburg | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 3.69% | 3.00% | |
Nominal rate % | 3.69% | 3.00% | |
WACAPOULEASING S.A. [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 696 | $ 668 | |
WACAPOULEASING S.A. [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,125 | 2,038 | |
WACAPOULEASING S.A. [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 6,020 | 5,768 | |
WACAPOULEASING S.A. [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 3,206 | 6,280 | |
WACAPOULEASING S.A. [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
WACAPOULEASING S.A. [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 12,047 | 14,754 | |
WACAPOULEASING S.A. [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 732 | 709 | |
WACAPOULEASING S.A. [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 2,125 | 2,038 | |
WACAPOULEASING S.A. [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 6,020 | 5,768 | |
WACAPOULEASING S.A. [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 3,207 | 6,280 | |
WACAPOULEASING S.A. [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
WACAPOULEASING S.A. [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 12,084 | $ 14,795 | |
SOCIETE GENERALE MILAN BRANCH [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | Italy | Italy | |
Currency | US$ | US$ | |
Amortization | Quarterly | Quarterly | |
Effective rate % | 4.87% | 4.18% | |
Nominal rate % | 4.81% | 4.11% | |
SOCIETE GENERALE MILAN BRANCH [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 8,964 | $ 8,547 | |
SOCIETE GENERALE MILAN BRANCH [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 27,525 | 26,275 | |
SOCIETE GENERALE MILAN BRANCH [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 208,024 | 74,783 | |
SOCIETE GENERALE MILAN BRANCH [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 169,730 | ||
SOCIETE GENERALE MILAN BRANCH [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
SOCIETE GENERALE MILAN BRANCH [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 244,513 | 279,335 | |
SOCIETE GENERALE MILAN BRANCH [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 9,992 | 9,779 | |
SOCIETE GENERALE MILAN BRANCH [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 27,525 | 26,275 | |
SOCIETE GENERALE MILAN BRANCH [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 208,024 | 74,783 | |
SOCIETE GENERALE MILAN BRANCH [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 169,730 | ||
SOCIETE GENERALE MILAN BRANCH [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
SOCIETE GENERALE MILAN BRANCH [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 245,541 | $ 280,567 | |
BANCO IBM S.A [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | Brazil | Brazil | |
Currency | BRL | BRL | |
Amortization | Monthly | Monthly | |
Effective rate % | 6.89% | 13.63% | |
Nominal rate % | 6.89% | 13.63% | |
BANCO IBM S.A [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 21 | $ 260 | |
BANCO IBM S.A [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 749 | ||
BANCO IBM S.A [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 22 | ||
BANCO IBM S.A [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANCO IBM S.A [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANCO IBM S.A [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 21 | 1,031 | |
BANCO IBM S.A [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 21 | 260 | |
BANCO IBM S.A [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 749 | ||
BANCO IBM S.A [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 21 | ||
BANCO IBM S.A [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANCO IBM S.A [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
BANCO IBM S.A [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 21 | $ 1,030 | |
HP FINANCIAL SERVICE [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | Brazil | ||
Currency | BRL | ||
Amortization | Monthly | ||
Effective rate % | 10.02% | ||
Nominal rate % | 10.02% | ||
HP FINANCIAL SERVICE [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 222 | ||
HP FINANCIAL SERVICE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
HP FINANCIAL SERVICE [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
HP FINANCIAL SERVICE [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
HP FINANCIAL SERVICE [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
HP FINANCIAL SERVICE [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 222 | ||
HP FINANCIAL SERVICE [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 222 | ||
HP FINANCIAL SERVICE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
HP FINANCIAL SERVICE [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
HP FINANCIAL SERVICE [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
HP FINANCIAL SERVICE [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
HP FINANCIAL SERVICE [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 222 | ||
SOCIETE GENERALE [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | 0-E | |
Creditor country | France | France | |
Currency | BRL | BRL | |
Amortization | Monthly | Monthly | |
Effective rate % | 6.89% | 13.63% | |
Nominal rate % | 6.89% | 13.63% | |
SOCIETE GENERALE [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 101 | $ 102 | |
SOCIETE GENERALE [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 8 | 307 | |
SOCIETE GENERALE [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 110 | ||
SOCIETE GENERALE [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
SOCIETE GENERALE [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
SOCIETE GENERALE [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 109 | 519 | |
SOCIETE GENERALE [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 101 | 102 | |
SOCIETE GENERALE [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 8 | 307 | |
SOCIETE GENERALE [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 110 | ||
SOCIETE GENERALE [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
SOCIETE GENERALE [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
SOCIETE GENERALE [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 109 | $ 519 | |
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 0-E | ||
Creditor country | U.S.A | ||
Currency | US$ | ||
Amortization | Monthly | ||
Effective rate % | 2.30% | ||
Nominal rate % | 2.30% | ||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Nominal Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 3,771 | ||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 5,075 | ||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Nominal Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Nominal Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Nominal Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Nominal Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 8,846 | ||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Accounting Value [Member] | Up to 90 days [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 3,794 | ||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | 5,075 | ||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Accounting Value [Member] | More than one to three years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Accounting Value [Member] | More than three to five years [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Accounting Value [Member] | Over five years | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | |||
GENERAL ELECTRIC CAPITAL CORPORATION [Member] | Accounting Value [Member] | Total [Member] | TAM S.A. and Subsidiaries [Member] | |||
Disclosure of subsidiaries [line items] | |||
Financial leases | $ 8,869 | ||
ESTADO 1 [Member] | |||
Disclosure of subsidiaries [line items] | |||
Tax No. | 97.030.000-7 | ||
Creditor country | Chile | ||
Currency | UF | ||
Amortization | At Expiration | ||
Effective rate % | 5.50% | ||
Nominal rate % | 5.50% | ||
ESTADO 1 [Member] | Nominal Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
ESTADO 1 [Member] | Nominal Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
ESTADO 1 [Member] | Nominal Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
ESTADO 1 [Member] | Nominal Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 189,637 | ||
ESTADO 1 [Member] | Nominal Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 189,637 | ||
ESTADO 1 [Member] | Accounting Value [Member] | Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
ESTADO 1 [Member] | Accounting Value [Member] | More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 1,738 | ||
ESTADO 1 [Member] | Accounting Value [Member] | More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | |||
ESTADO 1 [Member] | Accounting Value [Member] | More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 189,500 | ||
ESTADO 1 [Member] | Accounting Value [Member] | Over five years | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | 189,500 | ||
ESTADO 1 [Member] | Accounting Value [Member] | Total [Member] | |||
Disclosure of subsidiaries [line items] | |||
Obligations with the public | $ 380,738 | ||
[1] | The Equity reported corresponds to Equity attributable to owners of the parent, it does not include Non-controlling interest. |
OTHER FINANCIAL LIABILITIES 153
OTHER FINANCIAL LIABILITIES (Details 4) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Current liabilities | $ 12,200 | $ 24,881 |
Non-current liabilities | 2,617 | 6,679 |
Total hedge derivatives | 14,817 | 31,560 |
Interest Rate Swap [Member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Current liabilities | 1,189 | 2,148 |
Non-current liabilities | ||
Total hedge derivatives | 1,189 | 2,148 |
Interest Rate Derivative Contracts [Member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Current liabilities | 8,919 | 9,578 |
Non-current liabilities | 2,617 | 6,679 |
Total hedge derivatives | 11,536 | 16,257 |
Foreign Forward Instrument [Member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Current liabilities | 2,092 | 13,155 |
Non-current liabilities | ||
Total hedge derivatives | $ 2,092 | $ 13,155 |
OTHER FINANCIAL LIABILITIES 154
OTHER FINANCIAL LIABILITIES (Details 5) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Cross currency swaps (CCS) [Member] | |||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | |||
Fair values of net assets/ (liabilities) | [1] | $ 38,875 | $ (12,286) |
Interest rate swaps [Member] | |||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | |||
Fair values of net assets/ (liabilities) | [2] | (6,542) | (16,926) |
Fuel Derivative [Member] | |||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | |||
Fair values of net assets/ (liabilities) | [3] | 10,711 | 10,088 |
Currency forward-options US$/GBP$ [Member] | |||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | |||
Fair values of net assets/ (liabilities) | [4] | 618 | |
Currency forward-options US$/EUR$ [Member] | |||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | |||
Fair values of net assets/ (liabilities) | [4] | 109 | |
Currency options R$/US$ [Member] | |||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | |||
Fair values of net assets/ (liabilities) | [4] | 4,370 | (1,752) |
Currency options CLP/US$ | |||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | |||
Fair values of net assets/ (liabilities) | [4] | $ 636 | |
[1] | Covers the significant variations in cash flows associated with market risk implicit in the changes in the 3-month LIBOR interest rate and the exchange rate US$/UF of bank loans. These contracts are recorded as cash flow hedges and fair value. | ||
[2] | Covers the significant variations in cash flows associated with market risk implicit in the increases in the 3 months LIBOR interest rates for long-term loans incurred in the acquisition of aircraft and bank loans. These contracts are recorded as cash flow hedges. | ||
[3] | Covers significant variations in cash flows associated with market risk implicit in the changes in the price of future fuel purchases. These contracts are recorded as cash flow hedges. | ||
[4] | Covers the foreign exchange risk exposure of operating cash flows caused mainly by fluctuations in the exchange rate R$/US$, US$/EUR and US$/GBP. These contracts are recorded as cash flow hedges. |
OTHER FINANCIAL LIABILITIES 155
OTHER FINANCIAL LIABILITIES (Details 6) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Miscellaneous liabilities [abstract] | |||
Debit (credit) recognized in comprehensive income during the period | $ 18,344 | $ 127,390 | $ 80,387 |
Debit (credit) transferred from net equity to income during the period | $ (15,000) | $ (113,403) | $ (151,244) |
OTHER FINANCIAL LIABILITIES 156
OTHER FINANCIAL LIABILITIES (Details Narrative) $ in Thousands, in Thousands | Sep. 27, 2017 | Sep. 01, 2017USD ($) | Aug. 17, 2017USD ($) | Apr. 11, 2017USD ($) | Apr. 10, 2017USD ($) | Sep. 29, 2016USD ($) | Dec. 31, 2017USD ($) | Aug. 17, 2017CLF ( ) | Mar. 30, 2017USD ($) | Dec. 31, 2016USD ($) |
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | $ 7,891,640 | $ 8,604,920 | ||||||||
Bank Loans [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | 321,633 | 585,287 | ||||||||
Obligation With The Public [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | 1,584,066 | 1,309,345 | ||||||||
Guaranteed Obligations [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | $ 140,000 | $ 4,036,843 | $ 4,758,552 | |||||||
Description of debt maturity | Expires in 2023 | |||||||||
Tam Linhas Aereas S.A. [Member] | Bank Loans [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | $ 200,000 | $ 137,000 | ||||||||
Description of collateral | Simultaneously, all the garments were lifted on the shares of Multiplus S.A. delivered as collateral. | Guaranteed with 18% of the shares of Multiplus S.A., percentage adjustable depending on the shares price. | ||||||||
TAM Capital Inc [Member] | Obligation With The Public [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | $ 300,000 | |||||||||
Interest rate | 7.375% | |||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | $ 700,000 | |||||||||
Interest rate | 6.875% | |||||||||
Description of debt maturity | Maturing in 2024 | |||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | Series A Bond [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Description of debt maturity | Expiration date on June 1, 2022 | |||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | Series B Bond [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Description of debt maturity | Expiration date on January 1, 2028 | |||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | Series C Bond [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Description of debt maturity | Expiration date on June 1, 2022 | |||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | Series D Bond [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Description of debt maturity | Expiration date on January 1, 2028 | |||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | CLF | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | | 9,000 | |||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | CLF | Series A Bond [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | | 2,500 | |||||||||
Interest rate | 5.25% | 5.25% | ||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | CLF | Series B Bond [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | | 2,500 | |||||||||
Interest rate | 5.75% | 5.75% | ||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | CLF | Series C Bond [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | | 1,850 | |||||||||
Interest rate | 5.25% | 5.25% | ||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | CLF | Series D Bond [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | $ 1,850 | |||||||||
Interest rate | 5.75% | 5.75% | ||||||||
Latam Finance Limited [Member] | Obligation With The Public [Member] | CLF | Total Series Bond [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | | 8,700 | |||||||||
TAM Capital 3 Inc [Member] | Obligation With The Public [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Total obligations with financial institutions | $ 500,000 | |||||||||
Interest rate | 8.375% | |||||||||
Description of debt maturity | Expiration date on June 3, 2021 |
TRADE AND OTHER ACCOUNTS PAY157
TRADE AND OTHER ACCOUNTS PAYABLES (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current | ||
Trade and other accounts payables | $ 1,349,201 | $ 1,117,926 |
Accrued liabilities at the reporting date | 346,001 | 475,142 |
Total trade and other accounts payables | $ 1,695,202 | $ 1,593,068 |
TRADE AND OTHER ACCOUNTS PAY158
TRADE AND OTHER ACCOUNTS PAYABLES (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Miscellaneous liabilities [abstract] | ||
Trade creditors | $ 1,096,540 | $ 876,163 |
Leasing obligation | 4,448 | 10,446 |
Other accounts payable | 248,213 | 231,317 |
Trade and other accounts payables | $ 1,349,201 | $ 1,117,926 |
TRADE AND OTHER ACCOUNTS PAY159
TRADE AND OTHER ACCOUNTS PAYABLES (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Miscellaneous liabilities [abstract] | |||
Boarding Fee | $ 249,898 | $ 170,053 | |
Aircraft Fuel | 219,601 | 188,276 | |
Suppliers' technical purchases | 114,690 | 40,305 | |
Airport charges and overflight | 106,534 | 77,484 | |
Handling and ground handling | 103,784 | 87,406 | |
Other personnel expenses | 89,621 | 81,632 | |
Professional services and advisory | 81,679 | 79,270 | |
Marketing | 75,220 | 61,053 | |
Leases, maintenance and IT services | 69,873 | 44,287 | |
Services on board | 68,605 | 44,589 | |
Air companies | 31,381 | 21,197 | |
Land services | 31,151 | 74,260 | |
Maintenance | 26,244 | 25,962 | |
Crew | 24,163 | 29,074 | |
Achievement of goals | 5,732 | 17,801 | |
Communications | 5,273 | 7,500 | |
Aviation insurance | 5,108 | 7,694 | |
Aircraft and engines leasing | 4,285 | 10,446 | |
SEC agreement | [1] | 4,719 | |
Others | 36,359 | 44,918 | |
Trade and other accounts payables | $ 1,349,201 | $ 1,117,926 | |
[1] | Provision made for payments of fines, on July 25, 2016 LATAM reached agreements with the U.S. Department of Justice ("DOJ") U.S. and the Securities and Exchange Commission ("SEC") both authorities of the United States of America, in force as of this date, regarding the investigation on payments by LAN Airlines S.A. made in 2006-2007 to a consultant who advised on the resolution of labor matters in Argentina. The amount to the SEC agreement is ThUS$ 6,744 plus interests of ThUS$ 2,694. |
TRADE AND OTHER ACCOUNTS PAY160
TRADE AND OTHER ACCOUNTS PAYABLES (Details 3) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Liabilities accrued: | |||
Accrued personnel expenses | $ 125,246 | $ 113,785 | |
Aircraft and engine maintenance | 92,711 | 244,949 | |
Accounts payable to personnel | [1] | 99,862 | 89,523 |
Others accrued liabilities | 28,182 | 26,885 | |
Total accrued liabilities | $ 346,001 | $ 475,142 | |
[1] | Profits and bonds participation (Note 23 letter b). |
TRADE AND OTHER ACCOUNTS PAY161
TRADE AND OTHER ACCOUNTS PAYABLES (Details Narrative) - LATAM Airlines Group S.A. y Lan Cargo S.A. [Member] $ in Thousands | Jul. 25, 2016USD ($) |
Disclosure of subsidiaries [line items] | |
Investigation of payments | $ 6,744 |
Investigation of interest payments | $ 2,694 |
OTHER PROVISIONS (Details)
OTHER PROVISIONS (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Disclosure of other provisions [line items] | |||||||
Current liabilities | [1] | $ 2,783 | $ 2,643 | ||||
Non-current liabilities | [1] | 374,593 | 422,494 | ||||
Total Liabilities | 377,376 | [1] | 425,137 | [1] | $ 427,419 | $ 715,551 | |
Tax contingencies [Member] | |||||||
Disclosure of other provisions [line items] | |||||||
Current liabilities | [2] | 1,913 | 1,425 | ||||
Non-current liabilities | [2] | 258,305 | 313,064 | ||||
Total Liabilities | [2] | 260,218 | 314,489 | ||||
Civil contingencies [Member] | |||||||
Disclosure of other provisions [line items] | |||||||
Current liabilities | [2] | 497 | 993 | ||||
Non-current liabilities | [2] | 62,858 | 56,413 | ||||
Total Liabilities | [2] | 63,355 | 57,406 | ||||
Labor contingencies [Member] | |||||||
Disclosure of other provisions [line items] | |||||||
Current liabilities | [2] | 373 | 225 | ||||
Non-current liabilities | [2] | 28,360 | 29,307 | ||||
Total Liabilities | [2] | 28,733 | 29,532 | ||||
Other [Member] | |||||||
Disclosure of other provisions [line items] | |||||||
Current liabilities | [2] | ||||||
Non-current liabilities | [2] | 15,187 | 15,046 | ||||
Total Liabilities | [2] | 15,187 | 15,046 | ||||
Provision for European Commission Investigation [Member] | |||||||
Disclosure of other provisions [line items] | |||||||
Current liabilities | [3] | ||||||
Non-current liabilities | [3] | 9,883 | 8,664 | ||||
Total Liabilities | [4] | $ 9,883 | [3] | $ 8,664 | [3] | $ 8,966 | $ 9,999 |
[1] | Total other provision at December 31, 2017, and 2016, include the fair value correspond to those contingencies from the business combination with TAM S.A and subsidiaries, with a probability of loss under 50%, which are not provided for the normal application of IFRS enforcement and that only must be recognized in the context of a business combination in accordance with IFRS 3. | ||||||
[2] | Provisions for contingencies: The tax contingencies correspond to litigation and tax criteria related to the tax treatment applicable to direct and indirect taxes, which are found in both administrative and judicial stage. The civil contingencies correspond to different demands of civil order filed against the Company. The labor contingencies correspond to different demands of labor order filed against the Company. The Provisions are recognized in the consolidated income statement in administrative expenses or tax expenses, as appropriate. | ||||||
[3] | Provision made for proceedings brought by the European Commission for possible breaches of free competition in the freight market. | ||||||
[4] | European Commission Provision: Provision constituted on the occasion of the process initiated in December 2007 by the General Competition Directorate of the European Commission against more than 25 cargo airlines, among which is Lan Cargo SA, which forms part of the global investigation initiated in 2006 for possible infractions of free competition in the air cargo market, which was carried out jointly by the European and United States authorities. With respect to Europe, the General Directorate of Competition imposed fines totaling 799,445,000 (seven hundred and ninety-nine million four hundred and forty-five thousand Euros) for infractions of European Union regulations on free competition against eleven (11) airlines, among which are LATAM Airlines Group SA and its subsidiary Lan Cargo S.A. For its part, LATAM Airlines Group S.A. and Lan Cargo S.A., jointly and severally, have been fined for the amount of 8,220,000 (eight million two hundred and twenty thousand Euros), for these infractions, an amount that was provisioned in the financial statements of LATAM. On January 24, 2011, LATAM Airlines Group S.A. and Lan Cargo S.A. They appealed the decision before the Court of Justice of the European Union. On December 16, 2015, the European Court resolved the appeal and annulled the Commission's Decision. The European Commission did not appeal the judgment, but on March 17, 2017, the European Commission again adopted its original decision to impose on the eleven lines original areas, the same fine previously imposed, amounting to a total of 776,465,000 Euros In the case of LAN Cargo and its parent, LATAM Airlines Group S.A. imposed the same fine of 8.2 million Euros. The procedural stage as of December 31, 2017 is described in Note 31 in section (ii) judgments received by LATAM Airlines Group S.A. and Subsidiaries. |
OTHER PROVISIONS (Details 1)
OTHER PROVISIONS (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Reconciliation of changes in other provisions [Roll Forward] | ||||||
Opening balance | $ 425,137 | [1] | $ 427,419 | $ 715,551 | ||
Increase in provisions | 106,943 | 141,797 | 54,675 | |||
Provision used | (14,860) | (21,997) | (19,522) | |||
Difference by subsidiaries conversion | (5,830) | 79,396 | (220,266) | |||
Reversal of provision | (135,109) | (201,425) | (100,740) | |||
Exchange difference | 1,095 | (53) | (2,279) | |||
Closing balance | 377,376 | [1] | 425,137 | [1] | 427,419 | |
Legal claims [Member] | ||||||
Reconciliation of changes in other provisions [Roll Forward] | ||||||
Opening balance | [2] | 416,473 | 418,453 | 705,552 | ||
Increase in provisions | [2] | 106,943 | 141,797 | 54,675 | ||
Provision used | [2] | (14,860) | (21,997) | (19,522) | ||
Difference by subsidiaries conversion | [2] | (5,830) | 79,396 | (220,266) | ||
Reversal of provision | [2] | (135,109) | (201,425) | (100,740) | ||
Exchange difference | [2] | (124) | 249 | (1,246) | ||
Closing balance | [2] | 367,493 | 416,473 | 418,453 | ||
Provision for European Commission Investigation [Member] | ||||||
Reconciliation of changes in other provisions [Roll Forward] | ||||||
Opening balance | [3] | 8,664 | [4] | 8,966 | 9,999 | |
Increase in provisions | [3] | |||||
Provision used | [3] | |||||
Difference by subsidiaries conversion | [3] | |||||
Reversal of provision | [3] | |||||
Exchange difference | [3] | 1,219 | (302) | (1,033) | ||
Closing balance | [3] | $ 9,883 | [4] | $ 8,664 | [4] | $ 8,966 |
[1] | Total other provision at December 31, 2017, and 2016, include the fair value correspond to those contingencies from the business combination with TAM S.A and subsidiaries, with a probability of loss under 50%, which are not provided for the normal application of IFRS enforcement and that only must be recognized in the context of a business combination in accordance with IFRS 3. | |||||
[2] | Cumulative balances include judicial deposit delivered as security, with respect to the "Aerovia Fundo" (FA), for US $ 100 million, made in order to suspend the application of the tax credit. The Company is discussing in the Court the constitutionality of the requirement made by FA in a lawsuit. Initially it was covered by the effects of a precautionary measure, this means that the Company would not be obliged to collect the tax, as long as there is no judicial decision in this regard. However, the decision taken by the judge in the first instance was published unfavorably, revoking the injunction. As the lawsuit is still underway (TAM appealed this first decision), the Company needed to make the judicial deposit, for the suspension of the enforceability of the tax credit; deposit that was classified in this item, discounting the existing provision for this purpose. Finally, if the final decision is favorable to the Company, the deposit made will return to TAM. On the other hand, if the court confirms the first decision, said deposit will become a final payment in favor of the Government of Brazil. The procedural stage as of December 31, 2017 is described in Note 31 in the Role of the case 2001.51.01.012530-0. | |||||
[3] | European Commission Provision: Provision constituted on the occasion of the process initiated in December 2007 by the General Competition Directorate of the European Commission against more than 25 cargo airlines, among which is Lan Cargo SA, which forms part of the global investigation initiated in 2006 for possible infractions of free competition in the air cargo market, which was carried out jointly by the European and United States authorities. With respect to Europe, the General Directorate of Competition imposed fines totaling 799,445,000 (seven hundred and ninety-nine million four hundred and forty-five thousand Euros) for infractions of European Union regulations on free competition against eleven (11) airlines, among which are LATAM Airlines Group SA and its subsidiary Lan Cargo S.A. For its part, LATAM Airlines Group S.A. and Lan Cargo S.A., jointly and severally, have been fined for the amount of 8,220,000 (eight million two hundred and twenty thousand Euros), for these infractions, an amount that was provisioned in the financial statements of LATAM. On January 24, 2011, LATAM Airlines Group S.A. and Lan Cargo S.A. They appealed the decision before the Court of Justice of the European Union. On December 16, 2015, the European Court resolved the appeal and annulled the Commission's Decision. The European Commission did not appeal the judgment, but on March 17, 2017, the European Commission again adopted its original decision to impose on the eleven lines original areas, the same fine previously imposed, amounting to a total of 776,465,000 Euros In the case of LAN Cargo and its parent, LATAM Airlines Group S.A. imposed the same fine of 8.2 million Euros. The procedural stage as of December 31, 2017 is described in Note 31 in section (ii) judgments received by LATAM Airlines Group S.A. and Subsidiaries. | |||||
[4] | Provision made for proceedings brought by the European Commission for possible breaches of free competition in the freight market. |
OTHER PROVISIONS (Details Narra
OTHER PROVISIONS (Details Narrative) € in Thousands, $ in Thousands | Dec. 31, 2017USD ($)Cargo | Dec. 31, 2017EUR (€)Cargo |
Disclosure of other provisions [line items] | ||
Financial effect of fine imposed | $ | $ 12,750 | |
Provision for European Commission Investigation [Member] | ||
Disclosure of other provisions [line items] | ||
Tax credit suspend amount | $ | $ 100,000 | |
Provision for European Commission Investigation [Member] | Infringement of European Union Regulations [Member] | ||
Disclosure of other provisions [line items] | ||
Number of cargo airlines investigation held | Cargo | 25 | 25 |
Number of cargo airlines fine imposed | Cargo | 11 | 11 |
Provision for European Commission Investigation [Member] | Infringement of European Union Regulations [Member] | Euro Member Countries, Euro | ||
Disclosure of other provisions [line items] | ||
Financial effect of fine imposed | € | € 799,445 | |
Provision for European Commission Investigation [Member] | Infringement of European Union Regulations [Member] | Euro Member Countries, Euro | Lan Cargo S.A. [Member] | ||
Disclosure of other provisions [line items] | ||
Financial effect of fine imposed | € | € 8,220 |
OTHER NON-FINANCIAL LIABILIT165
OTHER NON-FINANCIAL LIABILITIES (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial assets [line items] | |||
Current liabilities | $ 2,823,963 | $ 2,762,245 | |
Non-current liabilities | 158,305 | 213,781 | |
Total Liabilities | 2,982,268 | 2,976,026 | |
Deferred Revenues [Member] | |||
Disclosure of financial assets [line items] | |||
Current liabilities | [1] | 2,690,961 | 2,655,086 |
Non-current liabilities | [1] | 158,305 | 213,781 |
Total Liabilities | [1] | 2,849,266 | 2,868,867 |
Sales Tax [Member] | |||
Disclosure of financial assets [line items] | |||
Current liabilities | 22,902 | 19,402 | |
Non-current liabilities | |||
Total Liabilities | 22,902 | 19,402 | |
Retentions [Member] | |||
Disclosure of financial assets [line items] | |||
Current liabilities | 38,197 | 45,542 | |
Non-current liabilities | |||
Total Liabilities | 38,197 | 45,542 | |
Others Taxes [Member] | |||
Disclosure of financial assets [line items] | |||
Current liabilities | 8,695 | 7,465 | |
Non-current liabilities | |||
Total Liabilities | 8,695 | 7,465 | |
Dividends payable [Member] | |||
Disclosure of financial assets [line items] | |||
Current liabilities | 46,590 | 20,766 | |
Non-current liabilities | |||
Total Liabilities | 46,590 | 20,766 | |
Other Sundry Liabilities [Member] | |||
Disclosure of financial assets [line items] | |||
Current liabilities | 16,618 | 13,984 | |
Non-current liabilities | |||
Total Liabilities | $ 16,618 | $ 13,984 | |
[1] | Note 2.20. |
EMPLOYEE BENEFITS (Details)
EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of defined benefit plans [abstract] | ||
Retirements payments | $ 55,119 | $ 49,680 |
Resignation payments | 10,124 | 10,097 |
Other obligations | 35,844 | 22,545 |
Total liability for employee benefits | $ 101,087 | $ 82,322 |
EMPLOYEE BENEFITS (Details 1)
EMPLOYEE BENEFITS (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of defined benefit plans [abstract] | |||
Opening balance | $ 82,322 | $ 65,271 | $ 74,102 |
Increase (decrease) current service provision | 21,635 | 17,487 | (13,609) |
Benefits paid | (5,399) | (4,536) | (3,824) |
Actuarial (gains) losses | (2,763) | 3,105 | 14,631 |
Currency translation | 5,292 | 995 | (6,029) |
Closing balance | $ 101,087 | $ 82,322 | $ 65,271 |
EMPLOYEE BENEFITS (Details 2)
EMPLOYEE BENEFITS (Details 2) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of defined benefit plans [abstract] | ||
Discount rate (in percent) | 4.55% | 4.54% |
Expected rate of salary increase (in percent) | 4.50% | 4.50% |
Rate of turnover (in percent) | 6.98% | 6.16% |
Mortality rate | RV2014 | RV2009 |
Inflation rate (in percent) | 2.72% | 2.86% |
Retirement age of women | P60Y | P60Y |
Retirement age of men | P65Y | P65Y |
EMPLOYEE BENEFITS (Details 3)
EMPLOYEE BENEFITS (Details 3) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Discount rate | ||
Change in the accrued liability an closing for increase in 100 p.b. | $ (5,795) | $ (5,665) |
Change in the accrued liability an closing for decrease of 100 p.b. | 6,617 | 5,952 |
Rate of wage growth | ||
Change in the accrued liability an closing for increase in 100 p.b. | 6,412 | 6,334 |
Change in the accrued liability an closing for decrease of 100 p.b. | $ (5,750) | $ (5,644) |
EMPLOYEE BENEFITS (Details 4)
EMPLOYEE BENEFITS (Details 4) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of defined benefit plans [abstract] | |||
Profit-sharing and bonuses | [1] | $ 99,862 | $ 89,523 |
[1] | Accounts payables to employees (Note 20 letter b). |
EMPLOYEE BENEFITS (Details 5)
EMPLOYEE BENEFITS (Details 5) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of defined benefit plans [abstract] | |||
Salaries and wages | $ 1,604,552 | $ 1,549,402 | $ 1,631,320 |
Short-term employee benefits | 145,245 | 132,436 | 171,366 |
Termination benefits | 85,070 | 79,062 | 51,684 |
Other personnel expenses | 188,767 | 190,233 | 218,435 |
Total | $ 2,023,634 | $ 1,951,133 | $ 2,072,805 |
ACCOUNTS PAYABLE, NON-CURREN172
ACCOUNTS PAYABLE, NON-CURRENT (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Trade and other payables [abstract] | ||
Aircraft and engine maintenance | $ 483,795 | $ 347,085 |
Provision for vacations and bonuses | 14,725 | 12,080 |
Other sundry liabilities | 312 | 226 |
Total accounts payable, non-current | $ 498,832 | $ 359,391 |
EQUITY (Details)
EQUITY (Details) - shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Classes of share capital [Roll Forward] | ||
Opening balance | 608,374,525 | 551,847,819 |
There is no movement of authorized shares during the period 2017 | ||
Increase capital approved at Extraordinary Shareholders meeting dated August 18, 2016 | 61,316,424 | |
Full capital decrease due to maturity of the subscription and payment period of the compensation plan 2011, December 21, 2016 | (4,789,718) | |
Closing balance | 608,374,525 | 608,374,525 |
EQUITY (Details 1)
EQUITY (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | ||||
Equity [Roll Forward] | |||||
Paid shares as of beginning of period | $ 3,149,564 | ||||
Approved at Extraordinary Shareholders meeting dated August 18, 2016 | $ 608,496 | ||||
Paid shares as of end of period | $ 3,146,265 | $ 3,149,564 | |||
Number of Shares [Member] | |||||
Equity [Roll Forward] | |||||
Paid shares as of beginning of period (in shares) | 606,407,693 | 545,547,819 | |||
Approved at Extraordinary Shareholders meeting dated August 18, 2016 (in shares) | 60,849,592 | ||||
Capital reserve (in shares) | |||||
Increase (decrease) by transfers and other changes (in shares) | 10,282 | 10,282 | [1] | ||
Paid shares as of end of period (in shares) | 606,407,693 | [2] | 606,407,693 | ||
Movement Value of Shares [Member] | |||||
Equity [Roll Forward] | |||||
Paid shares as of beginning of period | [3] | $ 3,160,718 | $ 2,552,066 | ||
Approved at Extraordinary Shareholders meeting dated August 18, 2016 | [3] | 608,496 | |||
Capital reserve | [3] | ||||
Increase (decrease) by transfers and other changes | 156 | 156 | [1],[3] | ||
Paid shares as of end of period | [3] | 3,160,718 | 3,160,718 | ||
Cost of Issuance and Placement of Shares [Member] | |||||
Equity [Roll Forward] | |||||
Paid shares as of beginning of period | [4] | (11,154) | (6,361) | ||
Approved at Extraordinary Shareholders meeting dated August 18, 2016 | [4] | ||||
Capital reserve | [4] | (4,793) | (4,793) | ||
Increase (decrease) by transfers and other changes | [4],[5] | ||||
Paid shares as of end of period | [4] | (14,453) | (11,154) | ||
Share Capital [Member] | |||||
Equity [Roll Forward] | |||||
Paid shares as of beginning of period | 3,149,564 | ||||
Approved at Extraordinary Shareholders meeting dated August 18, 2016 | 608,496 | ||||
Capital reserve | (3,299) | (4,793) | |||
Increase (decrease) by transfers and other changes | [1] | 156 | |||
Paid shares as of end of period | $ 3,146,265 | $ 3,149,564 | |||
[1] | These 10,282 shares were placed in January 2014 and charged to the Compensation plan 2011 (See Note 34 (a.1)) | ||||
[2] | At December 31, 2017, the difference between authorized shares and fully paid shares are 1,966,832 shares, of which 1,500,000 correspond to compensation plans for executives of LATAM Airlines Group S.A. and subsidiaries (see Note 34(a.2)) and 466,832 correspond to the shares issued and unsubscribed from the capital increase approved at the Extraordinary Shareholders Meeting held on August 18, 2016. | ||||
[3] | Amounts reported represent only those arising from the payment of the shares subscribed. | ||||
[4] | Decrease of capital by capitalization of reserves for cost of issuance and placement of shares established according to Extraordinary Shareholder's Meetings, where such decreases were authorized. | ||||
[5] | In January 2014, these 10,282 shares were placed and charged to the Compensation plan 2011 (See Note 34 (a.1)) |
EQUITY (Details 2)
EQUITY (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Equity [Roll Forward] | |||
Beginning balance | $ 4,185,304 | $ 2,937,548 | $ 4,503,695 |
Deferred tax | (807) | ||
Net movement of the period | (89,839) | 552,213 | (26,540) |
End balance | 4,267,236 | 4,185,304 | 2,937,548 |
Shares Based Payments Reserve [Member] | |||
Equity [Roll Forward] | |||
Beginning balance | 38,538 | 35,647 | 29,642 |
Stock option plan | 943 | 3,698 | 8,924 |
Deferred tax | (807) | (2,919) | |
Net movement of the period | 943 | 2,891 | 6,005 |
End balance | $ 39,481 | $ 38,538 | $ 35,647 |
EQUITY (Details 3)
EQUITY (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Equity [Roll Forward] | |||
Beginning balance | $ 4,185,304 | $ 2,937,548 | $ 4,503,695 |
Legal reserves | (89,839) | 552,213 | (26,540) |
End balance | 4,267,236 | 4,185,304 | 2,937,548 |
Other Sundry Reserves [Member] | |||
Equity [Roll Forward] | |||
Beginning balance | 2,640,281 | 2,634,679 | 2,635,748 |
Legal reserves | (501) | 5,602 | (1,069) |
End balance | $ 2,639,780 | $ 2,640,281 | $ 2,634,679 |
EQUITY (Details 4)
EQUITY (Details 4) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of reserves within equity [line items] | |||||
Transactions with non-controlling interest | $ 91,147 | $ 88,644 | |||
Total equity | 4,267,236 | 4,185,304 | $ 2,937,548 | $ 4,503,695 | |
Other Sundry Reserves [Member] | |||||
Disclosure of reserves within equity [line items] | |||||
Higher value for TAM S.A. share exchange | [1] | 2,665,692 | 2,665,692 | 2,665,692 | |
Reserve for the adjustment to the value of fixed assets | [2] | 2,620 | 2,620 | 2,620 | |
Transactions with non-controlling interest | [3] | (25,911) | (25,911) | (25,891) | |
Cost of issuance and placement of shares | 0 | (9) | (4,793) | ||
Others | (2,621) | (2,111) | (2,949) | ||
Total equity | $ 2,639,780 | $ 2,640,281 | $ 2,634,679 | $ 2,635,748 | |
[1] | Corresponds to the difference in the shares value of TAM S.A. acquired (under subscriptions) by Sister Holdco S.A. and Holdco II S.A. (under the Exchange Offer), as stipulated in the Declaration of Posting of Merger by Absorption and the fair value of these exchange shares of LATAM Airlines Group S.A. at June 22, 2012. | ||||
[2] | Corresponds to the technical revaluation of fixed assets authorized by the Commission for the Financial Market in 1979, in Circular N 1529. The revaluation was optional and could be taken only once, the reserve is not distributable and can only be capitalized. | ||||
[3] | The balance at December 31, 2017, correspond to the loss generated by the participation of Lan Pax Group S.A. and Inversiones Lan S.A. in the acquisition of shares of Aerovias de Integracion Regional Aires of ThUS$ (3,480) and ThUS$ (20), respectively; the acquisition of TAM S.A. of the minority holding of Aerolinhas Brasileiras S.A. of ThUS$ (885) and the acquisition of minority interest of Aerolane S.A. by Lan Pax group S.A. through Holdco Ecuador S.A. for US$ (21,526). |
EQUITY (Details 5)
EQUITY (Details 5) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other comprehensive income [RollForward] | |||
Beginning balance | $ 4,185,304 | $ 2,937,548 | $ 4,503,695 |
Deferred tax | (807) | ||
Tax effect on deferred tax by change legal tax rate (Tax reform)(*) | 1,770 | 34,695 | 21,103 |
End balance | 4,267,236 | 4,185,304 | 2,937,548 |
Currency Translation Reserve [Member] | |||
Other comprehensive income [RollForward] | |||
Beginning balance | (2,086,555) | (2,576,041) | (1,193,871) |
Derivatives valuation gains (losses) | |||
Deferred tax | |||
Actuarial reserves by employee benefit plans | |||
Deferred tax actuarial IAS by employee benefit plans | |||
Difference by subsidiaries conversion | (45,036) | 489,486 | (1,382,170) |
End balance | (2,131,591) | (2,086,555) | (2,576,041) |
Cash Flow Hedging Reserve [Member] | |||
Other comprehensive income [RollForward] | |||
Beginning balance | 1,506 | (90,510) | (151,340) |
Derivatives valuation gains (losses) | 18,436 | 126,360 | 82,730 |
Deferred tax | (1,802) | (34,344) | (21,900) |
Actuarial reserves by employee benefit plans | |||
Deferred tax actuarial IAS by employee benefit plans | |||
Difference by subsidiaries conversion | |||
End balance | 18,140 | 1,506 | (90,510) |
Actuarial Gains Or Losses On Defined Benefit Plans Reserve [Member] | |||
Other comprehensive income [RollForward] | |||
Beginning balance | (12,900) | (10,717) | |
Derivatives valuation gains (losses) | |||
Deferred tax | |||
Actuarial reserves by employee benefit plans | 2,758 | (3,104) | (14,627) |
Deferred tax actuarial IAS by employee benefit plans | (784) | 921 | 3,910 |
Difference by subsidiaries conversion | |||
End balance | (10,926) | (12,900) | (10,717) |
Other Comprehensive Income [Member] | |||
Other comprehensive income [RollForward] | |||
Beginning balance | (2,097,949) | (2,677,268) | (1,345,211) |
Derivatives valuation gains (losses) | 18,436 | 126,360 | 82,730 |
Deferred tax | (1,802) | (34,344) | (21,900) |
Actuarial reserves by employee benefit plans | 2,758 | (3,104) | (14,627) |
Deferred tax actuarial IAS by employee benefit plans | (784) | 921 | 3,910 |
Difference by subsidiaries conversion | (45,036) | 489,486 | (1,382,170) |
End balance | $ (2,124,377) | $ (2,097,949) | $ (2,677,268) |
EQUITY (Details 6)
EQUITY (Details 6) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Equity [Roll Forward] | |||
Beginning balance | $ 4,185,304 | $ 2,937,548 | $ 4,503,695 |
Dividends | (46,590) | (20,766) | |
End balance | 4,267,236 | 4,185,304 | 2,937,548 |
Retained Earnings [Member] | |||
Equity [Roll Forward] | |||
Beginning balance | 366,404 | 317,950 | 536,190 |
Result for the period | 155,304 | 69,220 | (219,274) |
Dividends | (46,590) | (20,766) | |
Other increase (decreases) | 1,034 | ||
End balance | $ 475,118 | $ 366,404 | $ 317,950 |
EQUITY (Details 7)
EQUITY (Details 7) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of classes of share capital [abstract] | |||
Date of dividend | Dec. 31, 2017 | Dec. 31, 2016 | |
Amount of the dividend | $ 46,590 | $ 20,766 | [1] |
Number of shares among which the dividend is distributed | $ 606,407,693 | $ 606,407,693 | |
Dividend per share (in dollars per share) | $ 0.0768 | $ 0.0342 | |
[1] | In accordance with the Material Fact issued on April 27, 2017, LATAM Airlines Group S.A. shareholders approved the distribution of the final dividend proposed by the board of directors in the Ordinary Session of April 4, 2017, amounting to ThUS $ 20,766, which corresponds to 30% of the profits for the year corresponding to the year 2016. |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | |||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 11, 2017 | Aug. 18, 2016 | Dec. 31, 2015 | ||||
Number of revised authorized shares capital stock (in shares) | 608,374,525 | 608,374,525 | 551,847,819 | |||||
Transactions with non-controlling interest | $ 91,147 | $ 88,644 | ||||||
Cost of Issuance and Placement of Shares [Member] | ||||||||
Capital reserve | [1] | (4,793) | (4,793) | |||||
Increase (decrease) by transfers and other changes | [1],[2] | |||||||
Number of Shares [Member] | ||||||||
Number of shares subscribed and paid capital (in shares) | 606,407,693 | [3] | 606,407,693 | 545,547,819 | ||||
Increase (decrease) by transfers and other changes (in shares) | 10,282 | 10,282 | [4] | |||||
Movement Value of Shares [Member] | ||||||||
Capital reserve | [5] | |||||||
Increase (decrease) by transfers and other changes | $ 156 | $ 156 | [4],[5] | |||||
Common/Ordinary Shares [Member] | ||||||||
Number of shares subscribed and paid capital (in shares) | 606,407,693 | 606,407,693 | ||||||
Value of shares subscribed and paid capital | $ 3,146,265 | $ 3,149,564 | ||||||
Number of shares issued (in shares) | 61,316,424 | |||||||
Number of shares placed (in shares) | 60,849,592 | |||||||
Number of revised authorized shares capital stock (in shares) | 608,374,525 | 61,316,424 | ||||||
Number of shares pending of subscription and payment (in shares) | 1,966,832 | 4,789,718 | ||||||
Number of shares allocated for stock option plan (in shares) | 1,500,000 | |||||||
Number of balances shares for placement of the last capital increase (in shares) | 466,832 | |||||||
Number of previously authorized shares capital stock (in shares) | 613,164,243 | |||||||
Number of shares for subscription and payment expired (in shares) | 30,499,685 | 4,789,718 | ||||||
Lan Pax Group S.A. and Subsidiaries [Member] | Holdco I S.A [Member] | ||||||||
Transactions with non-controlling interest | $ (21,526) | |||||||
Lan Pax Group S.A. and Subsidiaries [Member] | Aerovias de Integracion Regional Aires [Member] | ||||||||
Transactions with non-controlling interest | (3,480) | |||||||
Inversiones Lan S.A. and Subsidiaries [Member] | Aerovias de Integracion Regional Aires [Member] | ||||||||
Transactions with non-controlling interest | (20) | |||||||
TAM S.A. and Subsidiaries [Member] | ||||||||
Number of balances shares for placement of the last capital increase (in shares) | 210,000 | |||||||
TAM S.A. and Subsidiaries [Member] | Aerolinhas Brasileiras S.A. [Member] | ||||||||
Transactions with non-controlling interest | $ (885) | |||||||
[1] | Decrease of capital by capitalization of reserves for cost of issuance and placement of shares established according to Extraordinary Shareholder's Meetings, where such decreases were authorized. | |||||||
[2] | In January 2014, these 10,282 shares were placed and charged to the Compensation plan 2011 (See Note 34 (a.1)) | |||||||
[3] | At December 31, 2017, the difference between authorized shares and fully paid shares are 1,966,832 shares, of which 1,500,000 correspond to compensation plans for executives of LATAM Airlines Group S.A. and subsidiaries (see Note 34(a.2)) and 466,832 correspond to the shares issued and unsubscribed from the capital increase approved at the Extraordinary Shareholders Meeting held on August 18, 2016. | |||||||
[4] | These 10,282 shares were placed in January 2014 and charged to the Compensation plan 2011 (See Note 34 (a.1)) | |||||||
[5] | Amounts reported represent only those arising from the payment of the shares subscribed. |
REVENUE (Details)
REVENUE (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of major customers [line items] | |||
Revenue | $ 9,613,907 | $ 8,988,340 | $ 9,740,045 |
LAN Passenger [Member] | |||
Disclosure of major customers [line items] | |||
Revenue | 4,313,287 | 4,104,348 | 4,241,918 |
TAM Passenger [Member] | |||
Disclosure of major customers [line items] | |||
Revenue | 4,181,190 | 3,773,367 | 4,168,696 |
Freight [Member] | |||
Disclosure of major customers [line items] | |||
Revenue | $ 1,119,430 | $ 1,110,625 | $ 1,329,431 |
COSTS AND EXPENSES BY NATURE (D
COSTS AND EXPENSES BY NATURE (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Material income and expense [abstract] | |||
Aircraft fuel | $ 2,318,816 | $ 2,056,643 | $ 2,651,067 |
Other rentals and landing fees | 1,172,129 | 1,077,407 | 1,109,826 |
Aircraft rentals | 579,551 | 568,979 | 525,134 |
Aircraft maintenance | 430,825 | 366,153 | 437,235 |
Comissions | 252,474 | 269,296 | 302,774 |
Passenger services | 288,662 | 286,621 | 295,439 |
Other operating expenses | 1,381,546 | 1,424,595 | 1,293,320 |
Total | $ 6,424,003 | $ 6,049,694 | $ 6,614,795 |
COSTS AND EXPENSES BY NATURE184
COSTS AND EXPENSES BY NATURE (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Material income and expense [abstract] | ||||
Depreciation | [1] | $ 943,215 | $ 910,071 | $ 897,670 |
Amortization | 58,410 | 50,257 | 36,736 | |
Total | $ 1,001,625 | $ 960,328 | $ 934,406 | |
[1] | Include the depreciation of Property, plant and equipment and the maintenance cost of aircraft held under operating leases. The amount of maintenance cost included within the depreciation line item at December 31, 2017 is ThUS$ 359,940 and ThUS$ 345,651 for the same period of 2016. |
COSTS AND EXPENSES BY NATURE185
COSTS AND EXPENSES BY NATURE (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Material income and expense [abstract] | |||
Bank loan interest | $ 347,551 | $ 352,405 | $ 331,511 |
Financial leases | 37,522 | 32,573 | 42,855 |
Other financial instruments | 8,213 | 31,358 | 38,991 |
Total | $ 393,286 | $ 416,336 | $ 413,357 |
COSTS AND EXPENSES BY NATURE186
COSTS AND EXPENSES BY NATURE (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Material income and expense [abstract] | ||
Maintenance cost of aircraft held | $ 359,940 | $ 345,651 |
OTHER INCOME, BY FUNCTION (Deta
OTHER INCOME, BY FUNCTION (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Material income and expense [abstract] | |||
Coalition and loyalty program Multiplus | $ 240,952 | $ 174,197 | $ 154,958 |
Tours | 109,463 | 133,575 | 113,225 |
Aircraft leasing | 103,741 | 65,011 | 46,547 |
Customs and warehousing | 26,793 | 24,548 | 25,457 |
Maintenance | 6,585 | 17,090 | 11,669 |
Duty free | 8,038 | 11,141 | 16,408 |
Other miscellaneous income | 54,317 | 113,186 | 17,517 |
Total | $ 549,889 | $ 538,748 | $ 385,781 |
FOREIGN CURRENCY AND EXCHANG188
FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of subsidiaries [line items] | ||
Cash and cash equivalents | $ 260,092 | $ 201,416 |
Other financial assets, current | 36,484 | 14,573 |
Other non-financial assets, current | 107,170 | 107,789 |
Trade and other accounts receivable, current | 373,447 | 251,204 |
Accounts receivable from related entities, current | 958 | 554 |
Tax current assets | 33,575 | 28,198 |
Total current assets | 811,726 | 603,734 |
Other financial assets, non-current | 20,975 | 26,772 |
Other non-financial assets, non-current | 9,108 | 19,069 |
Accounts receivable, non-current | 6,887 | 7,356 |
Deferred tax assets | 2,081 | 2,110 |
Total non-current assets | 39,051 | 55,307 |
Argentina, Pesos | ||
Disclosure of subsidiaries [line items] | ||
Cash and cash equivalents | 7,309 | 4,438 |
Other financial assets, current | 21 | 12 |
Other non-financial assets, current | 16,507 | 16,086 |
Trade and other accounts receivable, current | 49,680 | 54,356 |
Tax current assets | 1,679 | 1,798 |
Total current assets | 75,196 | 76,690 |
Other financial assets, non-current | ||
Other non-financial assets, non-current | 172 | 142 |
Total non-current assets | 172 | 142 |
Brazil, Brazil Real | ||
Disclosure of subsidiaries [line items] | ||
Cash and cash equivalents | 14,242 | 9,705 |
Other financial assets, current | 17 | 734 |
Other non-financial assets, current | 19,686 | 20,158 |
Trade and other accounts receivable, current | 22,006 | 30,675 |
Tax current assets | 3,934 | 2,462 |
Total current assets | 59,885 | 63,734 |
Other financial assets, non-current | 3,831 | 2,769 |
Other non-financial assets, non-current | 6,368 | 6,029 |
Total non-current assets | 10,199 | 8,798 |
Chile, Pesos | ||
Disclosure of subsidiaries [line items] | ||
Cash and cash equivalents | 81,693 | 30,221 |
Other financial assets, current | 26,605 | 585 |
Other non-financial assets, current | 34,258 | 1,619 |
Trade and other accounts receivable, current | 82,369 | 90,482 |
Accounts receivable from related entities, current | 735 | 554 |
Tax current assets | 3,317 | 6,333 |
Total current assets | 228,977 | 129,794 |
Other financial assets, non-current | 74 | 83 |
Accounts receivable, non-current | 6,887 | 7,356 |
Total non-current assets | 6,961 | 7,439 |
Colombia, Pesos | ||
Disclosure of subsidiaries [line items] | ||
Cash and cash equivalents | 1,105 | 1,137 |
Other financial assets, current | 150 | |
Other non-financial assets, current | 340 | 713 |
Trade and other accounts receivable, current | 1,169 | 9,720 |
Tax current assets | 660 | 1,418 |
Total current assets | 3,424 | 12,988 |
Other financial assets, non-current | 281 | 285 |
Deferred tax assets | 86 | 117 |
Total non-current assets | 367 | 402 |
Euro Member Countries, Euro | ||
Disclosure of subsidiaries [line items] | ||
Cash and cash equivalents | 11,746 | 1,695 |
Other non-financial assets, current | 2,722 | 1,563 |
Trade and other accounts receivable, current | 48,286 | 21,923 |
Tax current assets | 179 | 273 |
Total current assets | 62,933 | 25,454 |
Other financial assets, non-current | 7,853 | 6,966 |
Total non-current assets | 7,853 | 6,966 |
United States of America, Dollars | ||
Disclosure of subsidiaries [line items] | ||
Cash and cash equivalents | 108,327 | 128,694 |
Other financial assets, current | 9,343 | 12,879 |
Other non-financial assets, current | 21,907 | 50,157 |
Trade and other accounts receivable, current | 34,268 | 14,086 |
Accounts receivable from related entities, current | 223 | |
Tax current assets | 327 | 177 |
Total current assets | 174,395 | 205,993 |
Other financial assets, non-current | 7,273 | 14,920 |
Other non-financial assets, non-current | 38 | 8,309 |
Accounts receivable, non-current | ||
Total non-current assets | 7,311 | 23,229 |
Peru, Nuevos Soles | ||
Disclosure of subsidiaries [line items] | ||
Tax current assets | 21,948 | 14,387 |
Other currency | ||
Disclosure of subsidiaries [line items] | ||
Cash and cash equivalents | 35,670 | 25,526 |
Other financial assets, current | 348 | 363 |
Other non-financial assets, current | 11,750 | 17,493 |
Trade and other accounts receivable, current | 135,669 | 29,962 |
Tax current assets | 1,531 | 1,350 |
Total current assets | 206,916 | 89,081 |
Other financial assets, non-current | 1,663 | 1,749 |
Other non-financial assets, non-current | 2,530 | 4,589 |
Accounts receivable, non-current | ||
Deferred tax assets | 1,995 | 1,993 |
Total non-current assets | $ 6,188 | $ 8,331 |
FOREIGN CURRENCY AND EXCHANG189
FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, current | $ 1,300,949 | $ 1,839,528 | |
Trade and other accounts payables | 1,695,202 | 1,593,068 | |
Other provisions, current | [1] | 2,783 | 2,643 |
Tax liabilities, current | 3,511 | 14,286 | |
Other non-financial liabilities | 2,823,963 | 2,762,245 | |
Total current liabilities | 5,842,714 | 6,222,191 | |
Other financial liabilities, non-current | 6,605,508 | 6,796,952 | |
Other provisions, non-current | [1] | 374,593 | 422,494 |
Other non-financial liabilities, non-current | 158,305 | 213,781 | |
Total non-current liabilities | 8,688,022 | 8,790,699 | |
Up to 90 days [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, current | 36,000 | 287,175 | |
Trade and other accounts payables | 919,373 | 585,149 | |
Accounts payable to related entities | 760 | 220 | |
Other provisions, current | 959 | 511 | |
Tax liabilities, current | (204) | ||
Other non-financial liabilities | 25,190 | 33,439 | |
Total current liabilities | 982,282 | 906,290 | |
Up to 90 days [Member] | Chile, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, current | 21,542 | 55,962 | |
Trade and other accounts payables | 233,202 | 60,701 | |
Accounts payable to related entities | 546 | 23 | |
Other provisions, current | 30 | 28 | |
Tax liabilities, current | (25) | ||
Other non-financial liabilities | 11,283 | 14,999 | |
Total current liabilities | 266,603 | 131,688 | |
Up to 90 days [Member] | United States of America, Dollars | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, current | 14,458 | 231,213 | |
Trade and other accounts payables | 409,380 | 374,431 | |
Accounts payable to related entities | 4 | 8 | |
Other provisions, current | |||
Other non-financial liabilities | 3,160 | 684 | |
Total current liabilities | 427,002 | 606,336 | |
Up to 90 days [Member] | Argentina, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 122,452 | 20,838 | |
Tax liabilities, current | |||
Other non-financial liabilities | 393 | 13,463 | |
Total current liabilities | 122,845 | 34,301 | |
Up to 90 days [Member] | Brazil, Brazil Real | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 28,810 | 40,740 | |
Tax liabilities, current | (3) | ||
Other non-financial liabilities | 542 | 430 | |
Total current liabilities | 29,352 | 41,167 | |
Up to 90 days [Member] | Colombia, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 2,964 | 9,049 | |
Other non-financial liabilities | 837 | 578 | |
Total current liabilities | 3,801 | 9,627 | |
Up to 90 days [Member] | Euro Member Countries, Euro | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 58,081 | 23,445 | |
Other non-financial liabilities | 5,954 | 168 | |
Total current liabilities | 64,035 | 23,613 | |
Up to 90 days [Member] | Venezuelan bolivar fuerte | |||
Disclosure of subsidiaries [line items] | |||
Total current liabilities | 763 | ||
Up to 90 days [Member] | Peru, Nuevos Soles | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 39,064 | 33,701 | |
Up to 90 days [Member] | Mexico, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 2,732 | 1,535 | |
Up to 90 days [Member] | South Sudan pound | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 5,839 | 1,769 | |
Up to 90 days [Member] | Uruguay, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 1,890 | 6,899 | |
Up to 90 days [Member] | Other currency | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 14,959 | 12,041 | |
Accounts payable to related entities | 210 | 189 | |
Other provisions, current | 929 | 483 | |
Tax liabilities, current | (176) | ||
Other non-financial liabilities | 3,021 | 3,117 | |
Total current liabilities | 68,644 | 59,558 | |
More than 90 days to one year [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, current | 115,182 | 455,086 | |
Trade and other accounts payables | 33,707 | 16,097 | |
Accounts payable to related entities | |||
Other provisions, current | |||
Tax liabilities, current | 174 | 2,501 | |
Other non-financial liabilities | |||
Total current liabilities | 149,063 | 473,684 | |
More than 90 days to one year [Member] | Chile, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, current | 79,032 | 108,010 | |
Trade and other accounts payables | 11,311 | 12,255 | |
Accounts payable to related entities | |||
Other provisions, current | 28 | ||
Tax liabilities, current | |||
Other non-financial liabilities | |||
Total current liabilities | 90,343 | 120,265 | |
More than 90 days to one year [Member] | United States of America, Dollars | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, current | 36,150 | 347,076 | |
Trade and other accounts payables | 1,154 | 962 | |
Accounts payable to related entities | |||
Other non-financial liabilities | |||
Total current liabilities | 37,304 | 348,038 | |
More than 90 days to one year [Member] | Argentina, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 8,636 | 907 | |
Tax liabilities, current | 174 | 2,501 | |
Other non-financial liabilities | |||
Total current liabilities | 8,810 | 3,408 | |
More than 90 days to one year [Member] | Brazil, Brazil Real | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 669 | 27 | |
Tax liabilities, current | |||
Other non-financial liabilities | |||
Total current liabilities | 669 | 27 | |
More than 90 days to one year [Member] | Colombia, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 855 | 578 | |
Other non-financial liabilities | |||
Total current liabilities | 855 | 578 | |
More than 90 days to one year [Member] | Euro Member Countries, Euro | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 9,165 | 5 | |
Other non-financial liabilities | |||
Total current liabilities | 9,165 | 5 | |
More than 90 days to one year [Member] | Venezuelan bolivar fuerte | |||
Disclosure of subsidiaries [line items] | |||
Total current liabilities | |||
More than 90 days to one year [Member] | Peru, Nuevos Soles | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 825 | 1,093 | |
More than 90 days to one year [Member] | Mexico, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 115 | ||
More than 90 days to one year [Member] | South Sudan pound | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 199 | 246 | |
More than 90 days to one year [Member] | Uruguay, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | |||
More than 90 days to one year [Member] | Other currency | |||
Disclosure of subsidiaries [line items] | |||
Trade and other accounts payables | 778 | 24 | |
Accounts payable to related entities | |||
Other provisions, current | |||
Tax liabilities, current | |||
Other non-financial liabilities | |||
Total current liabilities | 1,917 | 1,363 | |
More than one to three years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, non-current | 276,436 | 178,793 | |
Accounts payable, non-current | 362,964 | 195,629 | |
Other provisions, non-current | 41,514 | 39,513 | |
Provisions for employees benefits, non-current | 77,579 | 68,774 | |
Other non-financial liabilities, non-current | 3 | ||
Total non-current liabilities | 758,493 | 482,712 | |
More than one to three years [Member] | Chile, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, non-current | 41,548 | 59,177 | |
Accounts payable, non-current | 13,251 | 10,474 | |
Other provisions, non-current | 38 | ||
Provisions for employees benefits, non-current | 73,399 | 68,380 | |
Total non-current liabilities | 128,198 | 138,069 | |
More than one to three years [Member] | United States of America, Dollars | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, non-current | 234,888 | 119,616 | |
Accounts payable, non-current | 348,329 | 183,904 | |
Other provisions, non-current | 6,066 | 6,066 | |
Provisions for employees benefits, non-current | 4,180 | 366 | |
Total non-current liabilities | 593,463 | 309,952 | |
More than one to three years [Member] | Argentina, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | 940 | 635 | |
Total non-current liabilities | 940 | 635 | |
More than one to three years [Member] | Brazil, Brazil Real | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | 24,074 | 23,541 | |
Provisions for employees benefits, non-current | 28 | ||
Total non-current liabilities | 24,074 | 23,569 | |
More than one to three years [Member] | Colombia, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | 551 | 569 | |
Provisions for employees benefits, non-current | |||
Other non-financial liabilities, non-current | 3 | ||
Total non-current liabilities | 551 | 572 | |
More than one to three years [Member] | Euro Member Countries, Euro | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | 9,883 | 8,664 | |
Total non-current liabilities | 9,883 | 8,664 | |
More than one to three years [Member] | Other currency | |||
Disclosure of subsidiaries [line items] | |||
Accounts payable, non-current | 1,384 | 1,251 | |
Total non-current liabilities | 1,384 | 1,251 | |
More than three to five years [Member] | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, non-current | 263,798 | 747,218 | |
Accounts payable, non-current | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Other non-financial liabilities, non-current | |||
Total non-current liabilities | 263,798 | 747,218 | |
More than three to five years [Member] | Chile, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, non-current | 189,500 | 16,189 | |
Accounts payable, non-current | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Total non-current liabilities | 189,500 | 16,189 | |
More than three to five years [Member] | United States of America, Dollars | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, non-current | 74,298 | 731,029 | |
Accounts payable, non-current | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Total non-current liabilities | 74,298 | 731,029 | |
More than three to five years [Member] | Argentina, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | |||
Total non-current liabilities | |||
More than three to five years [Member] | Brazil, Brazil Real | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Total non-current liabilities | |||
More than three to five years [Member] | Colombia, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Other non-financial liabilities, non-current | |||
Total non-current liabilities | |||
More than three to five years [Member] | Euro Member Countries, Euro | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | |||
Total non-current liabilities | |||
More than three to five years [Member] | Other currency | |||
Disclosure of subsidiaries [line items] | |||
Accounts payable, non-current | |||
Total non-current liabilities | |||
Over five years | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, non-current | 189,500 | 41,785 | |
Accounts payable, non-current | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Other non-financial liabilities, non-current | |||
Total non-current liabilities | 189,500 | 41,785 | |
Over five years | Chile, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, non-current | 189,500 | ||
Accounts payable, non-current | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Total non-current liabilities | 189,500 | ||
Over five years | United States of America, Dollars | |||
Disclosure of subsidiaries [line items] | |||
Other financial liabilities, non-current | 41,785 | ||
Accounts payable, non-current | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Total non-current liabilities | 41,785 | ||
Over five years | Argentina, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | |||
Total non-current liabilities | |||
Over five years | Brazil, Brazil Real | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Total non-current liabilities | |||
Over five years | Colombia, Pesos | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | |||
Provisions for employees benefits, non-current | |||
Other non-financial liabilities, non-current | |||
Total non-current liabilities | |||
Over five years | Euro Member Countries, Euro | |||
Disclosure of subsidiaries [line items] | |||
Other provisions, non-current | |||
Total non-current liabilities | |||
Over five years | Other currency | |||
Disclosure of subsidiaries [line items] | |||
Accounts payable, non-current | |||
Total non-current liabilities | |||
[1] | Total other provision at December 31, 2017, and 2016, include the fair value correspond to those contingencies from the business combination with TAM S.A and subsidiaries, with a probability of loss under 50%, which are not provided for the normal application of IFRS enforcement and that only must be recognized in the context of a business combination in accordance with IFRS 3. |
FOREIGN CURRENCY AND EXCHANG190
FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES (Details 2) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of subsidiaries [line items] | ||
Total assets | $ 850,777 | $ 659,041 |
Total liabilities | 2,343,136 | 2,651,689 |
Argentina, Pesos | ||
Disclosure of subsidiaries [line items] | ||
Total assets | 75,368 | 76,832 |
Total liabilities | 132,595 | 38,344 |
Net position | (57,227) | 38,488 |
Brazil, Brazil Real | ||
Disclosure of subsidiaries [line items] | ||
Total assets | 70,084 | 72,532 |
Total liabilities | 54,095 | 64,763 |
Net position | 15,989 | 7,769 |
Chile, Pesos | ||
Disclosure of subsidiaries [line items] | ||
Total assets | 235,938 | 137,233 |
Total liabilities | 864,144 | 406,211 |
Net position | (628,206) | (268,978) |
Colombia, Pesos | ||
Disclosure of subsidiaries [line items] | ||
Total assets | 3,791 | 13,390 |
Total liabilities | 5,207 | 10,777 |
Net position | (1,416) | 2,613 |
Euro Member Countries, Euro | ||
Disclosure of subsidiaries [line items] | ||
Total assets | 70,786 | 32,420 |
Total liabilities | 83,083 | 32,282 |
Net position | (12,297) | 138 |
United States of America, Dollars | ||
Disclosure of subsidiaries [line items] | ||
Total assets | 181,706 | 229,222 |
Total liabilities | 1,132,067 | 2,037,140 |
Net position | (950,361) | (1,807,918) |
Other currency | ||
Disclosure of subsidiaries [line items] | ||
Total assets | 213,104 | 97,412 |
Total liabilities | 71,945 | 62,172 |
Net position | $ 141,159 | $ 35,240 |
FOREIGN CURRENCY AND EXCHANG191
FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES (Details 3) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Argentina, Pesos | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 18.57 | 15.84 | 12.97 | 8.55 |
Brazil, Brazil Real | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 3.31 | 3.25 | 3.98 | 2.66 |
Chile, Pesos | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 614.75 | 669.47 | 710.16 | 606.75 |
Colombia, Pesos | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 2,984.77 | 3,000.25 | 3,183 | 2,389.50 |
Euro Member Countries, Euro | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 0.83 | 0.95 | 0.92 | 0.82 |
Venezuelan bolivar fuerte | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 3,345 | 673.76 | 198.7 | 12 |
Australia, Dollars | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 1.28 | 1.38 | 1.37 | 1.22 |
Bolivia, Bolivianos | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 6.86 | 6.86 | 6.85 | 6.86 |
Mexico, Pesos | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 19.66 | 20.63 | 17.34 | 14.74 |
New Zealand, Dollars | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 1.41 | 1.44 | 1.46 | 1.28 |
Peru, Nuevos Soles | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 3.24 | 3.35 | 3.41 | 2.99 |
Uruguay, Pesos | ||||
Disclosure of subsidiaries [line items] | ||||
Exchange rate (in dollars per share) | 28.74 | 29.28 | 29.88 | 24.25 |
FOREIGN CURRENCY AND EXCHANG192
FOREIGN CURRENCY AND EXCHANGE RATE DIFFERENCES (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Foreign exchange rates [abstract] | |||
Exchange differences recognized in the income statement | $ (18,718) | $ 121,651 | $ (467,896) |
Exchange differences recognized in equity as reserves | $ 47,495 | $ 494,362 | $ 1,409,439 |
EARNINGS _ (LOSS) PER SHARE (De
EARNINGS / (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Basic earnings / (loss) per share | ||||
Earnings / (loss) attributable to owners of the parent | $ 155,304 | $ 69,220 | $ (219,274) | |
Weighted average number of shares, basic (in shares) | 606,407,693 | 546,559,599 | [1] | 545,547,819 |
Basic earnings / (loss) per share (US$) (in dollars per share) | $ 0.2561 | $ 0.12665 | $ (0.40193) | |
Diluted earnings / (loss) per share | ||||
Earnings / (loss) attributable to owners of the parent | $ 155,304 | $ 69,220 | $ (219,274) | |
Weighted average number of shares, basic (in shares) | 606,407,693 | 546,559,599 | [1] | 545,547,819 |
Weighted average number of shares, diluted (in shares) | 606,407,693 | 546,559,599 | 545,547,819 | |
Diluted earnings / (loss) per share (US$) (in dollars per share) | $ 0.2561 | $ 0.12665 | $ (0.40193) | |
[1] | In the calculation of diluted earnings per share have not been considered the compensation plan disclosed in Note 34 (a.1), because the average market price is lower than the price of options. |
CONTINGENCIES (Details)
CONTINGENCIES (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Jul. 25, 2016 | Dec. 31, 2007 | ||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | $ 12,750 | ||||
Agreement term | 3 years | ||||
Explanation of possibility of reimbursement, contingent liabilities | Paid a fine of KUS$6,744 and interest of ThUS$ 2,694. | ||||
Payable to SEC | [1] | $ 4,719 | |||
Lan Airlines S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Investigation of payments | $ 1,150,000 | ||||
Atlantic Aviation Investments, LLC (AAI) [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 10,976 | |||
LATAM Airlines Group S.A. y Lan Cargo S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 9,892 | |||
Investigation of payments | $ 6,744 | ||||
Lan Cargo S.A. y LATAM Airlines Group S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 0 | |||
Aerolinhas Brasileiras S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 11,828 | |||
Aerolinhas Brasileiras S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 15,811 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 66,258 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 100,240 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 64,383 | |||
Aerovias de Integracion Regional, AIRES S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 12,443 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 73,890 | |||
Tam Viagens S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 108,396 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 16,170 | |||
TAM S.A. and Subsidiaries [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 149,031 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 17,230 | |||
LATAM Airlines Group S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 21,547 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 42,548 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 15,910 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 17,657 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 17,844 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 14,647 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 10,808 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 27,226 | |||
Pantanal Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 10,877 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 27,369 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 9,983 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 22,253 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 16,079 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 34,321 | |||
SNEA (Sindicato Nacional das empresas aeroviarias) [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | 23,118 | |||
Tam Linhas Aereas S.A. [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Amounts committed | [2] | $ 0 | |||
[1] | Provision made for payments of fines, on July 25, 2016 LATAM reached agreements with the U.S. Department of Justice ("DOJ") U.S. and the Securities and Exchange Commission ("SEC") both authorities of the United States of America, in force as of this date, regarding the investigation on payments by LAN Airlines S.A. made in 2006-2007 to a consultant who advised on the resolution of labor matters in Argentina. The amount to the SEC agreement is ThUS$ 6,744 plus interests of ThUS$ 2,694. | ||||
[2] | The Company has reported the amounts involved only for the lawsuits for which a reliable estimation can be made of the financial impacts and of the possibility of any recovery, pursuant to Paragraph 86 of IAS 37 Provisions, Contingent Liabilities and Contingent Assets. |
COMMITMENTS (Details)
COMMITMENTS (Details) - Aircraft | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 93 | 111 |
ACS Aero 1 Alpha Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
Aircraft 76B-26329 Inc. [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Aircraft 76B-27615 Inc. [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
Aircraft 76B-28206 Inc. [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Aviacion Centaurus, A.I.E. [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 3 | 3 |
Aviacion Centaurus, A.I.E. 1 [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Aviacion Real A.I.E. [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Aviacion Real A.I.E. 1 [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Aviacion Triton A.I.E. [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 3 | 3 |
Avolon Aerospace AOE 19 Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
Avolon Aerospace AOE 20 Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
Avolon Aerospace AOE 6 Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
Avolon Aerospace AOE 62 Limited [Member] | Boeing 777 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Avolon Aerospace AOE 100 Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | ||
Avolon Aerospace AOE 100 Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | |
AWAS 5234 Trust [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Baker & Spice Aviation Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Bank of America [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | 2 |
Bank of Utah [Member] | Boeing 787 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | |
CIT Aerospace International [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 2 |
ECAF I 1215 DAC [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
ECAF I 2838 DAC [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
ECAF I 40589 DAC [Member] | Boeing 777 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Eden Irish Aircr Leasing MSN 1459 [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
GECAS Sverige Aircraft Leasing Worldwide AB [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
GFL Aircraft Leasing Netherlands B.V. [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
IC Airlease One Limited [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
JSA Aircraft 38484, LLC [Member] | Boeing 787 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
JSA Aircraft 7126, LLC [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
JSA Aircraft 7128, LLC [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
JSA Aircraft 7239, LLC [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
JSA Aircraft 7298, LLC [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Macquarie Aerospace Finance 5125-2 Trust [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Macquarie Aerospace Finance 5178 Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Magix Airlease Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
MASL Sweden (8) AB [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
Merlin Aviation Leasing (Ireland) 18 Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Merlin Aviation Leasing (Ireland) 7 Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
NBB Cuckoo Co., Ltd [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
NBB Grosbeak Co., Ltd [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
NBB Redstart Co. Ltd [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
NBB-6658 Lease Partnership [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
NBB-6670 Lease Partnership [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Orix Aviation Systems Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 4 | 5 |
PAAL Aquila Company Limited [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | 2 |
PAAL Gemini Company Limited [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
SASOF II (J) Aviation Ireland Limited [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
Shenton Aircraft Leasing Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | 1 |
Sky High XXIV Leasing Company Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 5 | 5 |
Sky High XXV Leasing Company Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | 2 |
SMBC Aviation Capital Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 4 | 6 |
SMBC Aviation Capital Limited [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | |
Sunflower Aircraft Leasing Limited [Member] | Airbus A321 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | |
TC-CIT Aviation Ireland Limited [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 | |
Volito Aviation August 2007 AB [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | 2 |
Volito Aviation November 2006 AB [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | 2 |
Volito November 2006 AB [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | 2 |
Wells Fargo Bank North National Association [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 3 | |
Wells Fargo Bank North National Association [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | |
Wells Fargo Bank Northwest National Association [Member] | Airbus A320 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 5 | 7 |
Wells Fargo Bank Northwest National Association [Member] | Airbus A350 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | 2 |
Wells Fargo Bank Northwest National Association [Member] | Boeing 767 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 2 | 3 |
Wells Fargo Bank Northwest National Association [Member] | Boeing 777 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 4 | 6 |
Wells Fargo Bank Northwest National Association [Member] | Boeing 787 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 11 | 11 |
Wells Fargo Bank Northwest National Association [Member] | Airbus A350 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | ||
Wilmington Trust Company [Member] | Airbus A319 [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Number of aircraft under operating leases | 1 |
COMMITMENTS (Details 1)
COMMITMENTS (Details 1) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Minimum future lease payments not yet payable | $ 3,580,522 | $ 3,255,190 |
Not Later Than One Year [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Minimum future lease payments not yet payable | 462,205 | 533,319 |
Between One And Five Years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Minimum future lease payments not yet payable | 1,620,253 | 1,459,362 |
Over five years | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Minimum future lease payments not yet payable | $ 1,498,064 | $ 1,262,509 |
COMMITMENTS (Details 2)
COMMITMENTS (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Commitments | |||
Minimum operating lease payments | $ 579,551 | $ 568,979 | $ 525,134 |
Total | $ 579,551 | $ 568,979 | $ 525,134 |
COMMITMENTS (Details 3)
COMMITMENTS (Details 3) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Disclosure of transactions between related parties [line items] | |
Value | $ 69,729 |
Ge Capital Aviation Services Limited [Member] | Lan Cargo S.A. [Member] | One Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 1,100 |
Release date | Nov. 30, 2018 |
ACS Aero 1 Alpha Limited [Member] | LATAM Airlines Group S.A. [Member] | One Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 3,255 |
Release date | Aug. 31, 2018 |
Bank of America [Member] | LATAM Airlines Group S.A. [Member] | Three Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 1,043 |
Release date | Jul. 2, 2018 |
Bank of Utah [Member] | LATAM Airlines Group S.A. [Member] | One Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 2,000 |
Release date | Mar. 24, 2019 |
Engine Lease Finance Corporation [Member] | LATAM Airlines Group S.A. [Member] | One Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 4,750 |
Release date | Oct. 8, 2018 |
Ge Capital Aviation Services Ltd. [Member] | LATAM Airlines Group S.A. [Member] | Six Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 22,105 |
Release date | Apr. 30, 2018 |
International Lease Finance Corp [Member] | LATAM Airlines Group S.A. [Member] | Three Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 1,450 |
Release date | Aug. 5, 2018 |
Orix Aviation Systems Limited [Member] | LATAM Airlines Group S.A. [Member] | Two Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 7,366 |
Release date | Dec. 11, 2018 |
Wells Fargo Bank [Member] | LATAM Airlines Group S.A. [Member] | Nine Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 15,160 |
Release date | Mar. 2, 2018 |
CIT Aerospace International [Member] | Tam Linhas Aereas S.A. [Member] | One Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 6,000 |
Release date | Oct. 25, 2018 |
Wells Fargo Bank North N.A. [Member] | Tam Linhas Aereas S.A. [Member] | One Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 5,500 |
Release date | Jul. 15, 2018 |
COMMITMENTS (Details 4)
COMMITMENTS (Details 4) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Disclosure of transactions between related parties [line items] | |
Value | $ 280,032 |
Servicio Nacional De Aduana Del Ecuador [Member] | Lineas Aereas Nacionales Delecuador S.A. [Member] | Three Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 1,705 |
Release date | Aug. 5, 2018 |
Corporacion Peruana De Aeropuertos Y Aviacion Comercial [Member] | Lan Peru S.A. [Member] | Twenty Five Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 1,897 |
Release date | Jan. 31, 2018 |
Lima Airport Partners S.R.L. [Member] | Lan Peru S.A. [Member] | Eighteen Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 996 |
Release date | Apr. 30, 2018 |
Superintendencia Nacional De Aduanas Y De Administracion Tributaria [Member] | Lan Peru S.A. [Member] | Ten Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 80,000 |
Release date | Jan. 31, 2018 |
Aena Aeropuertos S.A. [Member] | LATAM Airlines Group S.A. [Member] | Four Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 2,809 |
Release date | Nov. 15, 2018 |
American Alternative Insurance Corporation [Member] | LATAM Airlines Group S.A. [Member] | Six Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 3,690 |
Release date | Apr. 5, 2018 |
Comision Europea [Member] | LATAM Airlines Group S.A. [Member] | One Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 9,868 |
Release date | Jun. 16, 2018 |
Deutsche Bank A.G. [Member] | LATAM Airlines Group S.A. [Member] | One Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 15,000 |
Release date | Mar. 31, 2018 |
Direccion General De Aeronautic A Civil [Member] | LATAM Airlines Group S.A. [Member] | Fifty Three Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 19,759 |
Release date | Feb. 28, 2018 |
Empresa Publica De Hidrocarburos Del Ecuador EP Petroecuador [Member] | LATAM Airlines Group S.A. [Member] | One Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 5,500 |
Release date | Jun. 18, 2018 |
Metropolitan Dade County [Member] | LATAM Airlines Group S.A. [Member] | Eight Letter Of Credit [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 2,273 |
Release date | Mar. 13, 2018 |
4 Vara Mista De Bayeux [Member] | Tam Linhas Aereas S.A. [Member] | One Insurance Policies Guarantee [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 1,044 |
Release date | Mar. 25, 2021 |
Conselho Administrativo De Conselhos Federais [Member] | Tam Linhas Aereas S.A. [Member] | One Insurance Policies Guarantee [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 12,703 |
Release date | May 19, 2020 |
Fundacao De Proteao De Defesa Do Consumidor Procon [Member] | Tam Linhas Aereas S.A. [Member] | Two Insurance Policies Guarantee [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 3,926 |
Release date | Apr. 1, 2021 |
Uniao Federal [Member] | Tam Linhas Aereas S.A. [Member] | One Insurance Policies Guarantee [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 6,604 |
Release date | Oct. 20, 2021 |
Uniao Federal - Fazenda Nacional [Member] | Tam Linhas Aereas S.A. [Member] | One Insurance Policies Guarantee [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 41,243 |
Release date | Jul. 30, 2020 |
Uniao Federal - Procuradoira - Gral da fazenda Nacional [Member] | Tam Linhas Aereas S.A. [Member] | Four Insurance Policies Guarantee [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 50,196 |
Release date | Jan. 4, 2020 |
Unia O Federal Vara Comarc A De DF [Member] | Tam Linhas Aereas S.A. [Member] | One Insurance Policies Guarantee [Member] | |
Disclosure of transactions between related parties [line items] | |
Release date | Sep. 28, 2021 |
Unia O Federal Vara Comarc A De DF [Member] | Tam Linhas Aereas S.A. [Member] | Two Insurance Policies Guarantee [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 1,551 |
Unia O Federal Vara Comarc A De SP [Member] | Tam Linhas Aereas S.A. [Member] | One Insurance Policies Guarantee [Member] | |
Disclosure of transactions between related parties [line items] | |
Value | $ 19,268 |
Release date | Feb. 22, 2021 |
COMMITMENTS (Details Narrative)
COMMITMENTS (Details Narrative) $ in Thousands | Dec. 31, 2017USD ($) |
LATAM Airlines Group S.A. [Member] | |
Disclosure of transactions between related parties [line items] | |
Revolving credit facility | $ 450,000 |
Tam Linhas Aereas S.A. [Member] | |
Disclosure of transactions between related parties [line items] | |
Revolving credit facility | $ 450,000 |
TRANSACTIONS WITH RELATED PA201
TRANSACTIONS WITH RELATED PARTIES (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Inversiones Costa Verde Ltda. yCPA. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | 96.810.370-9 | ||
Nature of relationship with related parties | Related director | ||
Currency | CLP | ||
Country of origin | Chile | ||
Tickets sales | $ 18 | $ 6 | $ 15 |
Comunidad Mujer [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | 65.216.000-K | ||
Nature of relationship with related parties | Related director | ||
Currency | CLP | ||
Country of origin | Chile | ||
Tickets sales | $ 14 | 9 | 2 |
Services provided for advertising | (12) | (10) | |
Bethia S.A and Subsidiaries [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | 78.591.370-1 | ||
Nature of relationship with related parties | Related director | ||
Currency | CLP | ||
Country of origin | Chile | ||
Services received of cargo transport | $ 1,643 | (394) | (259) |
Services received from National and International Courier | (382) | (285) | (227) |
Services provided of cargo transport | $ (17) | 192 | 30 |
Viajes Falabella Ltda. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | 65.216.000-K | ||
Nature of relationship with related parties | Related director | ||
Currency | CLP | ||
Country of origin | Chile | ||
Sales commissions | $ (761) | (727) | (50) |
Transportes San Felipe S.A [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | 79.773.440-3 | ||
Nature of relationship with related parties | Related director | ||
Currency | CLP | ||
Country of origin | Chile | ||
Tickets sales | $ 1 | 3 | 7 |
Services received of transfer of passengers | (84) | (127) | |
Granja Marina Tornagaleones S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | 87.752.000-5 | ||
Nature of relationship with related parties | Common shareholder | ||
Currency | CLP | ||
Country of origin | Chile | ||
Tickets sales | $ 72 | 76 | 117 |
Consultoria Administrativa Profesional S.A. de C.V. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | Foreign | ||
Nature of relationship with related parties | Associate | ||
Currency | MXN | ||
Country of origin | Mexico | ||
Professional counseling services received | $ (2,357) | (2,563) | (1,191) |
Inversora Aeronautica Argentina [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | Foreign | ||
Nature of relationship with related parties | Related director | ||
Currency | ARUS$ | ||
Country of origin | Argentina | ||
Leases as lessor | $ (251) | (264) | (269) |
Revenue billboard advertising maintaining | 1 | ||
TAM Aviacao Executiva e Taxi Aereo S/A [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | Foreign | ||
Nature of relationship with related parties | Related director | ||
Currency | BRL | ||
Country of origin | Brazil | ||
Services provided of cargo transport | $ 45 | (120) | (61) |
Other services received | $ (39) | 7 | 5 |
Qatar Airways [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Tax No | Foreign | ||
Nature of relationship with related parties | Indirect shareholder | ||
Currency | US$ | ||
Country of origin | Qatar | ||
Services provided by aircraft lease | $ 31,707 | ||
Interlineal received service | (2,139) | ||
Interlineal provided service | 5,279 | ||
Services provided of handling | $ 1,002 |
TRANSACTIONS WITH RELATED PA202
TRANSACTIONS WITH RELATED PARTIES (Details 1) - Key Management Personnel Of Entity Or Parent [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of transactions between related parties [line items] | |||
Remuneration | $ 17,826 | $ 16,514 | $ 17,185 |
Management fees | 468 | 556 | 547 |
Non-monetary benefits | 740 | 778 | 864 |
Short-term benefits | 36,970 | 23,459 | 19,814 |
Share-based payments | 13,173 | 8,085 | 10,811 |
Total | $ 69,177 | $ 49,392 | $ 49,221 |
SHARE-BASED PAYMENTS (Details)
SHARE-BASED PAYMENTS (Details) - Compensation Plan 2011 [Member] - Stock Option [Member] - shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Number of share options outstanding [Roll Forward] | ||
Beginning balance | 4,518,000 | |
Share options granted | ||
Share options cancelled | ||
Executives resign options | (4,172,000) | |
Share options expired | (346,000) | |
Ending balance |
SHARE-BASED PAYMENTS (Details 1
SHARE-BASED PAYMENTS (Details 1) - Compensation Plan 2016-2018 [Member] - Stock Option [Member] - shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Number of share options outstanding [Roll Forward] | ||
Beginning balance | 4,719,720 | 4,719,720 |
Units bases, Granted | 37,359 | |
Units bases, Annulled | (1,193,286) | |
Units bases, Exercised | (630,897) | |
Ending balance | 2,932,896 | 4,719,720 |
SHARE-BASED PAYMENTS (Details 2
SHARE-BASED PAYMENTS (Details 2) - Multiplus S.A. [Member] - Subsidiaries Compensation Plans [Member] - Stock Option [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of shares non accrued options | $ 316,025 | $ 394,698 |
3rd Grant - 03/21/2012 [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of shares non accrued options | 84,249 | 84,249 |
4th Grant - 04/03/2013 [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of shares non accrued options | 163,251 | 173,399 |
4th Extraordinary Grant - 11/20/2013 [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of shares non accrued options | $ 68,525 | $ 137,050 |
SHARE-BASED PAYMENTS (Details 3
SHARE-BASED PAYMENTS (Details 3) - Multiplus S.A. [Member] - Subsidiaries Compensation Plans [Member] - Stock Option [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Number of shares accrued options | ||
Number of shares non accrued options | $ 316,025 | $ 394,698 |
SHARE-BASED PAYMENTS (Details 4
SHARE-BASED PAYMENTS (Details 4) - Subsidiaries Compensation Plans [Member] - Restricted Stock [Member] - shares | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Number of other equity instruments outstanding [Roll Forward] | ||
Beginning balance | 237,856 | 175,910 |
Granted | 129,218 | 138,282 |
Exercised | (41,801) | (15,811) |
Not acquired due to breach of employment retention conditions | (15,563) | (60,525) |
Ending balance | 309,710 | 237,856 |
SHARE-BASED PAYMENTS (Details N
SHARE-BASED PAYMENTS (Details Narrative) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015shares | May 31, 2014shares | Jun. 11, 2013shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of shares authorised | 608,374,525 | 608,374,525 | 551,847,819 | ||
Restricted Stock [Member] | Multiplus S.A. [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Description of vesting requirements | (i) 1/3 (one third) after the 2nd year from the issue date; (ii) 1/3 (one third) after the 3rd year from the issue date; (iii) 1/3 (one third) after the 4th year from the issue date. | ||||
Number of ordinary restricted stock | 91,103 | ||||
Compensation Plan 2011 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of shares subscription | 4,800,000 | ||||
Number of shares subscribed and fully paid | 10,282 | ||||
Shares pending of subscription and payment | 4,789,718 | ||||
Share based payments effect on income recorded at fair value at the grant date | $ | $ 2,989 | ||||
Compensation Plan 2011 [Member] | Stock Option [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of ordinary restricted stock | 4,518,000 | ||||
Compensation Plan 2013 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share based payments effect on income recorded at fair value at the grant date | $ | |||||
Number of shares authorised | 1,500,000 | ||||
Compensation Plan 2016-2018 [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Description of vesting requirements | A vesting period between October 2018 and March 2019. | ||||
Compensation Plan 2016-2018 [Member] | Stock Option [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of ordinary restricted stock | 2,932,896 | 4,719,720 | 4,719,720 | ||
Subsidiaries Compensation Plans [Member] | Stock Option [Member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Description of maximum term of options granted | The options granted to the usual prizes are divided into three equal parts and employees may exercise one-third of their two, three and four, options respectively, as long as they keep being employees of the company. The agreed term of the options is seven years after the grant of the option. The first extraordinary granting was divided into two equal parts, and only half of the options may be exercised after three years and half after four years. The second extraordinary granting was also divided into two equal parts, which may be exercised after one and two years respectively. |
STATEMENT OF CASH FLOWS (Detail
STATEMENT OF CASH FLOWS (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Of Cash Flows Details 3 | |||
Guarantees | $ 59,988 | $ (51,559) | $ (2,125) |
Fuel hedge | 19,862 | (50,029) | (243,587) |
DOJ fine | (12,750) | ||
SEC agreement | (4,719) | ||
Fuel derivatives premiums | (2,832) | (6,840) | (20,932) |
Hedging margin guarantees | (4,201) | 1,184 | 87,842 |
Tax paid on bank transaction | (6,635) | (10,668) | (7,176) |
Bank commissions, taxes paid and other | (7,738) | (769) | (5,137) |
Change reservation systems | (16,120) | 11,000 | |
Currency hedge | (17,798) | (39,534) | 1,802 |
Court deposits | (33,457) | (33,635) | (6,314) |
Others | 50 | ||
Total Other inflows - (outflows) Operation flow | (8,931) | (209,269) | (184,627) |
Others deposits in guarantees | 3,754 | ||
Recovery loans convertible into shares | 8,896 | 20,000 | |
Certificate of bank deposits | 3,497 | ||
Tax paid on bank transaction | (2,594) | (3,716) | (12,921) |
Others | (10,383) | (4,337) | |
Total Other inflows - (outflows) Investment flow | (9,223) | 843 | 10,576 |
Loan guarantee | 80,615 | (74,186) | |
Credit card loan manager | 3,227 | ||
Early redemption of bonds TAM 2020 | (15,328) | ||
Guarantees bonds emission | (26,111) | ||
Settlement of derivative contracts | (26,214) | (125,149) | (28,144) |
Aircraft Financing advances | (40,695) | (29,828) | (35,891) |
Others | 2,490 | ||
Total Other inflows - (outflows) Financing flow | $ 13,706 | $ (229,163) | $ (99,757) |
STATEMENT OF CASH FLOWS (Det210
STATEMENT OF CASH FLOWS (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure of subsidiaries [line items] | ||||
Total dividends paid | $ 66,642 | $ 41,223 | $ 35,032 | |
Latam Airlines Group S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Total dividends paid | (20,766) | |||
Multiplus S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Total dividends paid | [1] | (45,876) | (40,823) | (34,632) |
Lan Peru S.A. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Total dividends paid | [1] | $ (400) | $ (400) | |
[1] | Dividends paid to minority shareholders. |
STATEMENT OF CASH FLOWS (Det211
STATEMENT OF CASH FLOWS (Details 2) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Reconciliation of liabilities arising from financing activities [Roll Forward] | |
Beginning balance | $ 8,604,920 |
Cash flows | |
Obtainment Capital | 1,450,771 |
Payment Capital | (2,213,413) |
Payment Interest | (389,724) |
Non-Flow Movements | |
Interest accrued and others | 439,086 |
Reclassifications | |
Ending balance | 7,891,640 |
Loans To Exporters [Member] | |
Reconciliation of liabilities arising from financing activities [Roll Forward] | |
Beginning balance | 278,164 |
Cash flows | |
Obtainment Capital | 130,000 |
Payment Capital | (99,719) |
Payment Interest | (7,563) |
Non-Flow Movements | |
Interest accrued and others | 13,737 |
Reclassifications | |
Ending balance | 314,619 |
Bank Loans [Member] | |
Reconciliation of liabilities arising from financing activities [Roll Forward] | |
Beginning balance | 585,287 |
Cash flows | |
Obtainment Capital | 70,357 |
Payment Capital | (345,552) |
Payment Interest | (21,127) |
Non-Flow Movements | |
Interest accrued and others | 32,668 |
Reclassifications | |
Ending balance | 321,633 |
Guaranteed Obligations [Member] | |
Reconciliation of liabilities arising from financing activities [Roll Forward] | |
Beginning balance | 4,758,552 |
Cash flows | |
Obtainment Capital | 182,140 |
Payment Capital | (486,599) |
Payment Interest | (154,072) |
Non-Flow Movements | |
Interest accrued and others | 155,907 |
Reclassifications | (419,085) |
Ending balance | 4,036,843 |
Other Guaranteed Obligations [Member] | |
Reconciliation of liabilities arising from financing activities [Roll Forward] | |
Beginning balance | 256,420 |
Cash flows | |
Obtainment Capital | |
Payment Capital | (15,022) |
Payment Interest | (8,890) |
Non-Flow Movements | |
Interest accrued and others | 9,667 |
Reclassifications | |
Ending balance | 242,175 |
Obligation With The Public [Member] | |
Reconciliation of liabilities arising from financing activities [Roll Forward] | |
Beginning balance | 1,309,345 |
Cash flows | |
Obtainment Capital | 1,055,167 |
Payment Capital | (797,828) |
Payment Interest | (128,764) |
Non-Flow Movements | |
Interest accrued and others | 146,146 |
Reclassifications | |
Ending balance | 1,584,066 |
Financial Leases [Member] | |
Reconciliation of liabilities arising from financing activities [Roll Forward] | |
Beginning balance | 1,022,361 |
Cash flows | |
Obtainment Capital | |
Payment Capital | (344,005) |
Payment Interest | (46,874) |
Non-Flow Movements | |
Interest accrued and others | 58,937 |
Reclassifications | 419,085 |
Ending balance | 1,109,504 |
Other Loans [Member] | |
Reconciliation of liabilities arising from financing activities [Roll Forward] | |
Beginning balance | 394,791 |
Cash flows | |
Obtainment Capital | 13,107 |
Payment Capital | (124,688) |
Payment Interest | (22,434) |
Non-Flow Movements | |
Interest accrued and others | 22,024 |
Reclassifications | |
Ending balance | $ 282,800 |
STATEMENT OF CASH FLOWS (Det212
STATEMENT OF CASH FLOWS (Details 3) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Statement Of Cash Flows Details 3 | ||
Increases (payments) | $ (205,143) | $ (170,684) |
Recoveries | 78,641 | 727,585 |
Total cash flows | $ (126,502) | $ 556,901 |