Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 184

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 184
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 as underlying securities) included in the registration, to include their shares (and/or CPOs having such shares as underlying
securities) in the registration.

Expenses of Registration, Restriction and Indemnification

We will pay all registration expenses, including the legal
fees of one counsel for all holders under the Registration Rights Agreement. In addition, we will reimburse such holders for the reasonable
fees and disbursements of each additional counsel retained for the purpose of rendering any legal opinion if and to the extent required
by underwriters or us.

The demand, short-form and piggyback registration rights are
subject to customary restrictions such as blackout periods and any limitations on the number of shares (and/or CPOs having such shares
as underlying securities) to be included in the underwritten offering imposed by any lead underwriter. The Registration Rights Agreement
also contains indemnification provisions that we believe are customary for similar transactions.

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  Table of Contents  

Significant Changes in Share Ownership

None.

Differences in Voting Rights

See Item 10: “ Additional Information - Memorandum
and Articles of Association - Overview - Voting Rights.”

  Related Party Transactions  

We have engaged in a number of transactions with related parties.

Servprot S. A. de C. V. (“ Servprot”)

Servprot was a related party until June 13, 2023,
because Mr. Enrique Beltranena Mejicano, the Company’s Chief Executive Officer and director was shareholder of such Company.
Servprot provides security services for Mr. Beltranena and his family.

As of December 31, 2022, and 2023 there were no outstanding
balances due to Servprot. As of December 31, 2022 and 2023, we accrued expenses of U. S. $0.2 million and U. S. $0.1 million, respectively,
in connection with these services.

Aeromantenimiento, S. A. (“ Aeroman”)

Aeroman is a related party, because Mr. Marco Baldocchi,
a member our board of directors was a member of Aeroman’s board of directors until November 2024. Additionally, Mr.
Joaquin Alberto Palomo a member of our board of directors is a director of the board of Aeroman. On January 1, 2017, we entered
into an aircraft repair and maintenance service agreement with Aeroman. On January 1, 2022, we entered into