| (11) | Prepaid expenses |
These
primarily relate to advance commission payments to travel agencies for future services, prepayments for aircraft rentals and prepaid
insurance. As of December 31, 2017 and 2016 prepaid balances are as follows:
| December 31, 2017 |
December 31, 2016 |
|||||||
| Prepaid commissions (1) | $ | 33,170 | $ | 16,351 | ||||
| Advance payments on operating aircraft leases | 9,507 | 10,313 | ||||||
| Premiums for insurance policies | 12,142 | 11,149 | ||||||
| Other (2) | 44,938 | 21,912 | ||||||
| Total | $ | 99,757 | $ | 59,725 | ||||
| (1) | Increase for boarding denied due to the pilots’ strike, customer service and baggage services, most are delivered in Bogotá, Cali, Medellín, and Cúcuta. |
| (2) | Advance payment made to IATA for service charges made by airlines. This is mainly the case with Airlines that belong to Star Alliance for the accumulation of miles, use of VIP lounges and Reservation Systems, Travelport Global Distribution System B.V., Services of Bolivian Airports, S.A., United Airlines Inc. |