Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 0

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
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ITEM 3 KEY INFORMATION

  [Reserved]  

  Capitalization and Indebtedness  

Not Applicable.

  Reasons for the Offer and Use of Proceeds  

Not Applicable.

  Risk Factors  

You should carefully consider all of the information set forth
in this annual report and the risks described below before making an investment decision. Our business, results of operations and financial
condition could be materially and adversely affected by any of these risks. The trading price of the ADSs could decline due to any of
these risks or other factors, and you may lose all or part of your investment.

The risks described below are those that we currently believe
may adversely affect us or the ADSs. In general, investing in the securities of issuers in emerging market countries, such as Mexico,
and the other countries in which we operate involves risks that are different from the risks associated with investing in the securities
of U. S. companies and companies located in other countries with developed capital markets. Any of these risks could materially and adversely
affect our business and results of operations.

To the extent that information relates to, or is obtained
from sources related to, the Mexican government or Mexican macroeconomic data, such information has been extracted from official publications
of the Mexican government and has not been independently verified by us.

Risks related to Mexico and the
other countries in which we operate

Economic political and social developments in Mexico as well
as changes in Mexican federal governmental policies may have an adverse effect on our business, results of operations, financial condition
and prospects.

Our business, results of operations and financial condition
are affected by economic, political or social developments in Mexico, including, among others, any political or social instability in
Mexico, changes in the rate of economic growth or contraction, changes in the exchange rate between the peso, the U. S. dollar and other
currencies, an increase in inflation or interest rates, changes in Mexican taxation and any amendments to existing Mexican laws, federal
governmental policies and regulations.

Adverse social or political developments in or affecting Mexico
could negatively affect us and Mexican financial markets generally, thereby affecting our ability to obtain financing. Presidential and
federal congressional elections in Mexico were held on June 2, 2024. Claudia Sheinbaum Pardo was elected as President. The President’s
party and its allies currently hold the qualified majority (i. e., two-thirds) of the Chamber of Deputies and the Senate. We cannot provide
any assurance that