Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 61

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 61
---
ITEM 4 INFORMATION ON THE COMPANY

  History and Development of the Company  

We were founded on October 27, 2005 under the name Controladora
Vuela Compañía de Aviación, S. A. de C. V. by Blue Sky Investments, S.à r. l., Discovery Air Investments, L. P.,
Corporativo Vasco de Quiroga, S. A. de C. V. and Sinca Inbursa, S. A. de C. V., Sociedad de Inversión de Capitales.

On July 16, 2010, we became a variable capital investment
promotion stock corporation ( sociedad anónima promotora de inversión de capital variable). In June 2013, we
became a variable capital public stock corporation ( sociedad anónima bursátil de capital variable), under the name
Controladora Vuela Compañía de Aviación, S. A. B. de C. V. See Item 9: “ The Offer and Listing - Markets - The
Mexican Stock Market - Mexican Securities Market Law” for a description of the differences between these two forms of legal
entities.

On September 23, 2013, we and certain of our shareholders
completed a dual-listing initial public offering on the NYSE and the Mexican Stock Exchange. We raised approximately U. S. $207.7 million
of gross proceeds from the global offering of 173,076,910 Series A shares, consisting of (i) an offering of Series A shares in Mexico
and (ii) a concurrent international offering of CPOs in the form of ADSs in the United States and other countries outside of Mexico,
at a public offering price of U. S. $1.20 dollars per share or U. S. $12.00 per ADS. Each ADS represents ten CPOs and each CPO represents
a financial interest in one of our Series A shares. The Series A shares were listed on the Mexican Stock Exchange under the trading symbol
“ VOLAR” and the ADSs were listed on NYSE under the trading symbol “ VLRS.” The Series A shares and ADSs began trading
on September 18, 2013.

On December 11, 2020, pursuant to our shelf registration
statement on Form F-3 and the pre-effective Amendment No. 1 to Form F-3 filed with the SEC, we sold 134,