Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 362

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 362
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, respectively, delivered between 2014 and 2022. This agreement also included the purchase of onespare engine
for the A320CEO fleet (which was received during the fourth quarter of 2016) and sixspare engines for the A320NEO fleet received from
2017 to 2022. In November 2015, the Company amended the agreement with the engine supplier to provide major maintenance services for the
engines of16aircraft (10A320NEO and sixA321NEO). This agreement also includes the purchase of threespare engines, twoof them for
the A320NEO fleet and onefor the A321NEO fleet. In April 2021, the Company amended the agreement with the engine supplier to provide
major maintenance services for the engines of twoaircraft A320NEO.

On May 12, 2020, the Company entered into certain agreements
with IAE LLC, which included the purchase of the engines for46A320NEO and34A321NEO, respectively, to be delivered between 2022 and
2028. This agreement also included the purchase of11firm spare engines for the A320NEO fleet to be received from 2022 to 2029.

In October 2021, the Company amended the agreement with the
engine supplier to provide major maintenance services for the engines of13aircraft (all A320NEO). This agreement also includes the purchase
of onespare engine for the A320NEO fleet. The Company has further amended and restated the agreement with IAE LLC to provide major maintenance
services for the engines of 79 aircraft (five A320NEO and 74 A321NEO), as well as the purchase of 21 spare engines for the A320NEO fleet
to be delivered from 2024 to 2030.

The Company received credit notes from P& W in December
2017 of US$3.1million, which are being amortized on a straight-line basis, prospectively during the term of the agreement. As of December
31, 2024, 2023 and 2022, the Company amortized a corresponding benefit from these credit notes of US$216, US$216and US$225, respectively,
which is recognized as an offset to maintenance expenses in the consolidated statements of operations.

During the years ended December 31, 2024 and 2023, the amounts
paid for aircraft pre-delivery payments