Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 366

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 366
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liabilities, resulting from the aircraft and engine lease extensions and new incorporations.

During the year ended December 31, 2023, the Company added13leased aircraft to its fleet, including oneA320NEO and twoA321NEO acquired through a sale and leaseback transaction under the existing
Airbus purchase agreement. Additionally, twoA320NEO and eightA321NEO were incorporated directly from the lessor’s aircraft acquired
order book. The aircraft acquired from the lessor’s order book were not subject to sale and leaseback transaction.

During 2023, the Company also extended the term of eightA320CEO
and oneA321CEO for an additional period of up to four years.

Additionally, during the year ended December 31, 2023,
the Company extended the term of six spare engines for an additional period of up to3.5years.

Set out below are the carrying amounts of right-of-use assets
recognized and the movements during the period:

  Summary of carrying amounts of right-of-use assets                                                                                             
                                                          Aircraft leases      Spare engine leases      Land and building leases                 
  As of December 31, 2022                                   US$ 2,110,753      US$ 24,181               US$ 45,997                    2,180,931  
  Additions                                                       401,943      —                        2,774                           404,717  
  Extensions                                                       64,994      7,825                    767                              73,586  
  Modifications                                                    32,167      9,006                    —                                41,173  
  Depreciation on right-of-use assets                           ( 337,694      ( 11,524                 ( 12,797                      ( 362,015  
  As of December 31, 2023                                       2,272,163      29,488                   36,741                        2,338,392  
  Additions                                                       460,120      —                        23,387                          483,507  
  Extensions                                                       81,317      5,361                    —                                86,678  
  Modifications                                                     ( 480      27,175                   1,190                            27,885  
  Disposals                                                      ( 31,130      ( 25,782                 —                              ( 56,912  
  Foreign currency conversion                                           —      —                        ( 35                               ( 35  
  Depreciation on right-of-use