Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 103

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 103
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 delivery of 50 spare engines (18 of them leased, 26 under financing and six owned) for service
replacement and for periodic rotation through our fleet.

The following table shows the historical development of our
fleet from 2008 through December 31, 2024:

  Fleet additions                                                                        
  (Returns)            2013      2014      2016      2017      2018      2022      2023  
  A319                  (4)       (2)       (3)       (3)       (4)       (2)       (1)  
  A320                    7         8         8         5         6         9         3  
  A321                    —         —         8         —         4         9        10  
  Total fleet            44        50        69        71        77       117       129  

As
of December 31, 2024, we have financed the acquisition of our aircraft through a combination of pre-delivery payment financing (including:
(i) a revolving line of credit with Santander and Bancomext under which we act as a guarantor; (ii) financing provided by certain
lessors in respect of 16 aircraft to be delivered between 2025 and 2027; and (iii) a PDP financing facility with Carlyle Aviation Management
(through its vehicle Runway Eleven Lender LLC) under which we act as guarantor), purchase, sale and leaseback transactions and direct
lease agreements, all of which meet the conditions for consideration as operating leases. With respect to purchases, sale and leaseback
transactions, we have entered into agreements to purchase aircraft from Airbus, which are sold to lessors and simultaneously leased back
through leaseback agreements. We have obtained financing for the pre-delivery payments of all the aircraft to be delivered through the
first half of 2028. As of December 31, 2024, we had 141 aircraft leased pursuant to long-term lease agreements for an average term of
12.43 years. The operating leases for these aircraft expire between 2024 and 2036. We make monthly lease payments and are not required
to make termination payments at the end of the lease unless there is an event of default or total loss of the aircraft. Our aircraft leases
provide for fixed lease payments. We are required to make certain non-refundable monthly maintenance payments and