Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 111

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 111
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 subsidiary in Costa Rica and is incorporated there. Vuela
El Salvador is incorporated in El Salvador. See Exhibit 21.1 to this annual report for a complete list of our subsidiaries.

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  Table of Contents  

On
October 5, 2021, we entered into a share transfer agreement to acquire all the capital stock of GDS through our subsidiaries Vuela and
Servicios Earhart. Vuela acquired four shares that represent 80% of the subscribed and paid capital of GDS, while Servicios Earhart acquired
one share that represents 20% of the subscribed and paid capital of GDS. On June 13, 2022, we increased the capital of GDS and issued
5,790 new shares, all of them acquired by our subsidiary Vuela. The current shares of Vuela represent 99.98% of the subscribed capital
of GDS, while the current share of Servicios Earhart represents 0.02% of the subscribed capital of GDS. GDS holds a Certificate of Aeronautical
Technical Services Operator and a Certificate / Exploitation Contract, issued by the General Directorate of Civil Aeronautics of Guatemala,
which expires on July 26, 2026.

Additionally, under IFRS 10Consolidated Financial Statements,
we exercise control over other trusts as described below.

  Pre-delivery payments financing trusts: We have assigned our rights and obligations under our purchase agreement with Airbus with       

                                                                                                                            % Equity interest  
  Name                                                                    Principal Activities                 Country                   2024  
  CIBanco, S. A., Institución de Banca Múltiple, Fidecomiso CIB/3853      Pre-delivery payments financing      Mexico                 100.00%  
  CIBanco, S. A., Institución de Banca Múltiple, Fidecomiso CIB/3855      Pre-delivery payments financing      Mexico                 100.00%  
  CIBanco, S. A., Institución de Banca Múltiple, Fidecomiso CIB/3866      Pre-delivery payments financing      Mexico                 100.00%  
  CIBanco, S. A., Institución de Banca Múltiple, Fidecomiso CIB/3867      Pre-delivery payments financing      Mexico                 100.00%  
  CIBanco, S. A., Institución de Banca Múltiple, F