Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 187

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 187
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 S. $1.2 million and U. S. $0.2 million, respectively.

Grupo Aeroportuario del Centro Norte, S. A. B. de C. V. (“ OMA”)

OMA was considered a related party, because Mr. Ricardo Maldonado
Yáñez, was a member of the board of directors of OMA and is an independent member of our board of directors and the chairman
of our corporate practices committee. Additionally, Mrs. Guadalupe Phillips Margain, one of our independent directors, was a member of
OMA’s board of directors until November 2022. As of the date of this report, OMA is no longer a related party.

As of December 31, 2022 and 2023, the account payable with
OMA was U. S. $13.6 million and U. S. $12.9 million, respectively.

During the years ended December 31, 2022 and 2023, we recognized
expenses with OMA of U. S. $9.8 million, and U. S. $12.3 million, respectively.

A& P International Services, S. A. P. I. de C. V. (“ AISG”)

From July 4, 2022, AISG has been considered
a related party because Mr. Harry F. Krensky, an independent 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, 2022, 2023, and 2024, the accounts payable from AISG were U. S.
$0.2 million, U. S. $0.3 million, U. S. $0.3 million, respectively.

During the year ended December 31, 2022, 2023, and 2024, we
recognized expenses with AISG of U. S. $0.9 million U. S. $2.9 million, and U. S. $3.0 million, respectively.

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Jetsmart Airlines SpA (“ Jetsmart Chile”)

Jetsmart Chile is considered a related party
because Mr. Brian H. Franke and Mr. Andrew Broderick serve on the