Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 231

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 231
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 outstanding capital stock. If an attendance quorum is not met upon the first call, a subsequent meeting may be called, at which
at least 51% of the capital stock must be represented. In either case, resolutions must be taken by the vote of shares representing at
least 50% plus one of the shares representing our outstanding capital stock, except for resolutions in respect to the cancellation of
the registration of shares at the Mexican National Securities Registry which require that at least 95% of the outstanding capital stock
vote in favor of such resolution.

Holders of our shares will not have cumulative voting rights.

Voting Rights

Holders of ADSs and CPOs will not be entitled to vote, at
any time, the underlying Series A shares. Mexican holders of Series A shares will be entitled to vote their shares on all matters.
Holders of Series B shares were entitled to vote their shares on all matters.

Series A shares underlying the CPOs and CPOs underlying
the ADSs will be voted by the CPO trustee in the same manner as the majority of Series A shares votes cast at the relevant shareholders’
meeting under all circumstances.

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  Table of Contents  

Provisions of our By-laws and Mexican Law Relating to Directors

Election of Directors

Our board of directors is currently comprised of 13 principal
members and three alternate members. Nine members of our board of directors currently qualify as independent. Whether a director qualifies
as independent must be determined by our shareholders (at the general shareholders’ meeting at which the director is elected), and
such determination may be challenged by the CNBV within 30 days following the date in which the appointment of the director is notified
to the CNBV. The CNBV may only challenge the appointment after a hearing with us and the affected director. Our officers, individuals
who have a material influence on us or authority to direct our management or business decisions, and individuals who are part of our group
of controlling shareholders may not be deemed independent directors.

Under our by-laws and the Securities Market Law, any shareholder
or group of shareholders representing 10% of our outstanding capital stock, have the right to appoint one director for each such 10% ownership
stake.

Authority of the Board of Directors

Our management is entrusted to a chief executive officer and
a board of directors. The board of directors sets forth the guidelines and general strategy for the conduct of our business and supervises
the execution thereof.

Pursuant