Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 188

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 188
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 board of directors of both, the Company and Jetsmart Chile. On March
15, 2024, the Company entered into an agreement to provide pilot professional technical cooperation services with Jetsmart Chile.

As of December 31, 2024, the Company did not have outstanding
balance due to Jetsmart Chile.

During the year ended December 31, 2024, the Company recorded
revenues in pilot professional technical cooperation services of U. S. $0.2 million.

Jetsmart Airlines S. A. (“ Jetsmart Argentina”)

Jetsmart Argentina is considered a related
party because Mr. Brian H. Franke serves on the board of directors of both, the Company and Jetsmart Argentina. On December 11, 2024,
the Company entered into an agreement to lease an aircraft engine with Jetsmart Argentina.

As of December 31, 2024, the account payable with Jetsmart
Argentina was U. S. $80 thousand.

During the year ended December 31, 2024 the Company
recorded revenues in lease aircraft engines of U. S. $80 thousand.

CleanJoule, Inc. (“ CleanJoule”)

CleanJoule is considered related party because Mr. Brian
H. Franke, the chairman of our board of directors, is an officer of Franke Family Joule, LLC. Since May 23, 2023, he has been a shareholder
of CleanJoule and has the right to appoint a member of its board of directors. Additionally, on May 23, 2023, Mr. Andrew Broderick, a
member of our board of directors, was appointed by Franke Family Joule, LLC, as a member of the board of directors of CleanJoule. CleanJoule
is a Company that produces high-performance and cost-effective Sustainable Aviation Fuel from agricultural waste and organic residues.
The Company directly purchased common stock of CleanJoule, recognizing 320,000 common stock shares amounting to U. S. $4.0 million.

Volantio, Inc. (“ Volantio”)

Volantio is considered a related party because Mr. William
Dean Donovan, an independent member of our board of directors, also serves in Volantio´s board of directors as of August 13, 2024.
Volantio provides us with customer support services.

As of December 31, 2024, the Company´s
account payable with Volantio was U