Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 363

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 363
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 were of US$235.3million and US$230.4million, respectively.

The current purchase agreement with Airbus requires the
Company to accept delivery of131Airbus A320 family aircraft during a period of seven years(from January 2025 to December 2031). On
November 26, 2024, an agreement was signed with Airbus to reschedule the delivery date for all 131 Aircraft. This agreement provides the
addition of 131 aircraft to its fleet as follows: 14in 2025,11in 2026,7in 2027,19in 2028,22in 2029,30in 2030 and28to be delivered
during 2031. Commitments to acquisitions of property and equipment are disclosed in Note 25.

During the years ended December 31, 2024, 2023 and 2022, the
Company entered into aircraft sale and leaseback transactions, resulting in gains of US$32,175, US$8,275and US$21,193, respectively.
These gains were recorded under the caption other operating income in the consolidated statements of operations, which represented only
the amount of gains that relate to the rights transferred to the buyer-lessor (Note 22).

e) During December 2017, the Company entered into an updated
total support agreement with Lufthansa for66 months, with an effective date on July 1, 2018. This agreement includes similar terms and
conditions as the original agreement.

As part of this agreement, the Company received credit notes
of US$5million in 2022 and US$1.5million in 2017, which are amortized on a straight-line basis, prospectively during the term of the
agreement. For the years ended December 31, 2024, 2023 and 2022, the Company amortized a corresponding benefit from these credit notes
of US$519, US$519and US$452, respectively, recognized as an offset to maintenance expenses in the consolidated statements of operations.

For the years ended December 31, 2024, 2023 and 2022, the
Company did not record any impairment loss.

13. Intangible assets, net

The composition and movement of intangible assets is as follows:

  Schedule of intangible assets, net                                                                                                                           
                                          Useful      Gross value                    Accumulated amortization      Net carrying amount                         
                                          Life        At December 31,