Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 147

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 147
---
 financing results                                              (215,268)      (230,533)       (15,265)       7.1  

Total
Financing Results. The 7.1% increase in our total financing loss in 2024 was primarily due to higher financial cost related
to aircraft and engine lease agreements, partially offset by the foreign exchange gains recorded during the year compared to
2023.

2022 compared to 2023

                                                For the years ended December 31,                                           
                                                                            2022           2023      Variation             
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                         (In thousands of dollars, except for %)                                           
  Financing results                                                                                                        
  Finance income                                                          12,902         38,222         25,320      196.2  
  Finance cost                                                         (192,535)      (219,343)       (26,808)       13.9  
  Foreign exchange gain (loss), net                                        3,581       (34,147)       (37,728)        n/a  
  Total financing results                                              (176,052)      (215,268)       (39,216)       22.3  

  96  

  Table of Contents  

Total
Financing Results. The 22.3% increase in our total financing loss in 2023 was primarily due to a higher financial cost related
to aircraft and engine lease agreements, as well as an increase in foreign exchange losses recorded during the year compared to 2022.

Income Tax Expense and Net Income

2023 compared to 2024

                                           For the years ended December 31,                                            
                                                                       2023          2024      Variation               
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                    (In thousands of dollars, except for %)                                            
  Income before income tax                                            7,442       182,689        175,247      >100.0%  
  Income tax benefit (expense)                                          377      (56,314)       (56,691)      n/a      
  Net income                                                          7,819       126,375        118,556      >100.0%  

During the year ended December 31, 2023 and 2024, we recorded
an income tax benefit (expense) of U. S. $0.4 million and U. S. ($56.