Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 57

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 57
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 their preemptive rights if the CPO deed will not permit additional
CPOs to be delivered in an amount sufficient to represent the shares of common stock to be issued as a result of the exercise of preemptive
rights on behalf of non-Mexican ADS or CPO holders, unless the CPO deed is modified, or a new CPO deed is entered into, which permits
delivery of the number of CPOs necessary to represent the shares to be subscribed and paid as a result of the exercise of such preemptive
rights. Although we expect to take all measures necessary to maintain sufficient CPOs available to permit non-Mexican holders of ADSs
and CPOs to exercise preemptive rights, if and when applicable, no assurances can be made that we will be able to do so, particularly
because regulatory approvals in Mexico are necessary for the issuance and delivery of CPOs. As a result of the limitations described above,
if we issue additional shares in the future in connection with circumstances giving rise to preemptive rights, the equity interests of
holders of ADSs and CPOs may be diluted. See Item 10: “ Additional Information - Memorandum and Articles of Association - Preemptive
Rights.”

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We do not intend to pay cash dividends for the foreseeable future, and our
revolving line of credit with Banco Santander México and Bancomext may limit our ability to declare and pay dividends.

We have never declared or paid cash dividends on our common
stock. We currently intend to retain our future earnings, if any, to finance the further development and expansion of our business and
do not intend to pay cash dividends in the foreseeable future. Any future determination to pay dividends will be at the discretion of
our board of directors, will require the approval of our general shareholders meeting, may only be paid if losses for prior fiscal years
have been paid and if shareholders have approved the net income from which the dividends are paid and legal reserves have been created
to the required levels, and will depend on our financial condition, results of operations, capital requirements, restrictions contained
in current or future financing instruments and such other factors as our board of directors deems relevant.

In addition, our revolving line of credit with Banco Santander
México (“ Santander”) and Banco Nacional de Comercio Exterior, S. N. C. (“ Bancomext”), may limit our ability
to declare and pay dividends in the event that we fail to