Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 299

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 299
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 in scheduled and non-scheduled flights for an initial
period of five years. On December 20, 2021, Volaris Costa Rica’s Air Operator Certificate was renewed, modified and extended for
an additional 15-year term. Volaris Costa Rica started operations on December 1, 2016.

On August 25, 2021, the Company, through its subsidiary
Vuela El Salvador, S. A. de C. V. (“ Volaris El Salvador”), obtained from the Salvadoran Civil Aviation Authority an Operation
Permit for scheduled and non-scheduled international public air transportation services for passengers, cargo and mail, valid until May
30, 2024. On May 28, 2024, Volaris El Salvador’s Operation Permit was renewed, modified and extended for an additional five-year
term. Volaris El Salvador started operations on September 15, 2021.

On October 13, 2021, Concesionaria completed the issuance
of fifteen million (15,000,000) asset-backed trust notes (Certificados Bursátiles Fiduciarios) (the “ Trust Notes”)
issued under the ticker VOLARCB 21L for an amount of Ps. 1.5billion Mexican pesos (US$72.1million, based on an exchange rate of Ps.20.80
to US$1on October 13, 2021), issued by CIBanco, S. A., Institución de Banca Múltiple, acting as Trustee of the Irrevocable
Trust number CIB/3249 created by Concesionaria, in the second offering under the program authorized by the Mexican National Banking and
Securities Commission for an amount of up to Ps. 3.0 billion (three billion pesos 00/100 national currency) (US$144.2million, based on
an exchange rate of Ps. 20.80to US$1on October 13, 2021). The Trust Notes comply with the Sustainability-Linked Bond Principles 2020
administered by the International Capital Market Association (ICMA) and has Sustainability Objectives (SPT) for the Key Performance Indicator
(KPI) to reduce carbon dioxide emissions from Volaris’s operations, measured as grams of CO2 emissions per revenue passenger/kilometer
(gCO2 / RPK) by21.54%,24.08% and25.53% by