Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 149

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 149
---
 may not calculate exactly due to rounding.  

  (2)      Includes, among other things, major maintenance expenses, which are capitalized                              

  (3)      Includes routine and ordinary maintenance expenses only. See Item 5: “ Operating and Financial  

  (4)      Basic and diluted (loss) earnings per share amounts are calculated by dividing the net (loss) income,                                    

  (5)      The basis used for the computation of the information is to multiply the (loss) earnings per basic and                                 

  (6)      Includes scheduled and charter.  

  (7)      Includes scheduled.  

  (8)      See “ Glossary of Airlines and Airline Terms” elsewhere in this annual report for definitions  

  (9)      See detail of other current assets in Item 17: “ Financial Statements”.  

  (10)      Traffic agents are considered on a 60% FTE (Full-Time Equivalent) basis for this calculation, as they  

  (11)      Non-IFRS financial measure. For more information on the non-IFRS measures, please refer to Key Information  

  Liquidity and Capital ResourcesLiquidity  

Our primary source of liquidity is cash provided by operations,
with our primary uses of liquidity being working capital and capital expenditures.

                                                       For the years ended December 31,                                
                                                                                   2022           2023           2024  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                              (In thousands of dollars)                                
  Net cash flows provided by operating activities                               613,602        729,825      1,089,729  
  Net cash flows used in investing activities                                 (130,694)      (462,044)      (472,520)  
  Net cash flows used in financing activities                                 (513,088)      (214,386)      (471,570)  

In recent
years, we have been able to meet our working capital requirements through cash from our operations. Our capital expenditure consists primarily
of the acquisition of flight equipment, including pre-delivery payments for aircraft acquisitions. From time to time, we finance pre-delivery
payments related to our aircraft with revolving lines of credit with the commercial banks. We have obtained financing for pre-delivery
payments in respect to all the aircraft to be delivered through 2025.

Our cash and cash equivalents increased by U. S. $133.8 million,
from U. S. $774