Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 357

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 357
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”)

From July 4, 2022, AISG has been considered a related party
because Harry F. Krensky, a member of our Board of Directors, is the Chairman of the Board of Directors of AISG. Additionally, Harry F.
Krensky is managing partner of Discovery Americas, a private equity firm that indirectly holds/manages an investment position in AISG.

As of December 31, 2024 and 2023, the account payable with
AISG was US$299and US$313, respectively.

During the years ended December 31, 2024, 2023 and 2022, the
Company recognized expenses in aircraft and engine maintenance amounted to US$2,986, US$2,895and US$914, respectively.

j) Jetsmart Airlines SpA (“ Jetsmart Chile”)

Jetsmart Chile is considered a related party because Brian
H. Franke and Andrew Broderick serve on the Board of Directors of both the Company and Jetsmart Chile. On March 15, 2024, the Company
entered into an agreement to provide pilot professional technical cooperation services with Jetsmart Chile.

As of December 31, 2024, the Company did not have outstanding
balance due to Jetsmart Chile.

During the year ended December 31, 2024, the Company recorded
revenues in pilot professional technical cooperation services of US$240.

k) Jetsmart Airlines S. A. (“ Jetsmart Argentina”)

Jetsmart Argentina is considered a related party because Brian
H. Franke serves on the Board of Directors of both the Company and Jetsmart Argentina. On December 11, 2024, the Company entered into
an agreement to lease aircraft engines with Jetsmart Argentina.

As of December 31, 2024, the account payable with Jetsmart
Argentina was US$80.

During the year ended December 31, 2024, the Company recorded
revenues in lease aircraft engines of US$80.

l) CleanJoule, Inc. (“ CleanJoule”)

CleanJoule is considered related party because Mr. Brian H.
Franke, the chairman of our board of directors, is an officer of Franke Family Joule, LLC. Since May 23, 2023, he has been a shareholder
of Clean Joule and has the right to appoint a member of its board of directors. Additionally, on May 23, 2023, Mr. Andrew Bro