Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 351

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 351
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DA
of the holding.

The Company settled this short-term loan on January 5,
2023, as such any potential effects of the non-compliance were solved with the payment. The non-compliance did not trigger any cross-default
provisions in other debt instruments or any lease agreement of the Company. The facility expired in December 2023.

In December 2022, the Company signed a working capital facility
with Banco Actinver S. A., Institución de Banca Múltiple (“ Actinver”) in Mexican pesos, bearing annual interest
rate at TIIE 28 days plus250basis points margins. The facility matured in December 2024.

The “ Actinver” working capital facility did not
include obligations or restrictions.

Other financing agreements

The Company entered into several agreements that qualified
as failed sale and leaseback transactions. Consequently, these agreements were accounted for as financing transactions. The details of
these agreements are presented as follows:

  In September 2023, the Company entered into financing agreements with Tarquin Limited for the acquisition  
  of engines. The agreements bear an annual interest rate of 6.20% and mature in 2028.                       
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  In September 2023, the Company also entered into additional financing agreements                                                     
  with NBB-V11218 Lease Partnership and NBB-V11951 Lease Partnership, for the acquisition of engines. These agreements bear an annual  
  interest of 6.20% and mature in 2028.                                                                                                
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  In September and October 2023, the Company entered into financing agreements                                                            
  with Wilmington Trust SP Services (Dublin) Limited (not in its individual capacity but solely as Owner Trustee) for the acquisition of  
  engines. These agreements bear an annual interest rate of 7.16% and mature in 2028.                                                     
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  In November 2023, the Company entered into financing agreements                                                                     
  with NBB Pintail Co Ltd for the acquisition of engines. These agreements bear an annual interest rate of 6.99% and mature in 2028.  
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