Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 329

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 329
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institutions, but the amendments in (a), (c) and (d) are relevant to all entities.

The amendments to IFRS 9 and IFRS 7 will be effective
for annual reporting periods beginning on or after January 1, 2026, with early application permitted subject.

The Company is currently assessing the amendments, which it
expects will not have impact on the consolidated financial statements.

IFRS 18 Presentation and Disclosure in Financial Statements

In April 2024, the IASB issued IFRS 18, which replaces IAS
1 Presentation of Financial Statements. IFRS 18 introduces new requirements for presentation within the statement of profit or loss, including
specified totals and subtotals. Furthermore, entities are required to classify all income and expenses within the statement of profit
or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations, whereof the first three
are new.

It also requires disclosure of newly defined management-defined
performance measures, subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of financial
information based on the identified “roles” of the primary financial statements (PFS) and the notes.

In addition, narrow-scope amendments have been made to IAS
7 “ Statement of Cash Flows,” which include changing the starting point for determining cash flows from operations under the
indirect method, from “profit or loss” to “operating profit or loss” and removing the optionality around classification
of cash flows from dividends and interest. In addition, there are consequential amendments to several other standards.

IFRS 18, and the amendments to the other standards, is effective
for reporting periods beginning on or after January 1, 2027, but earlier application is permitted and must be disclosed. IFRS 18 will
apply retrospectively.

The Company is currently assessing and identifying all the
impacts that the amendments will have on the consolidated financial statements and notes.

IFRS 19 Subsidiaries without Public Accountability:
Disclosures

In May 2024, the IASB issued IFRS 19, which allows eligible
entities to elect to apply its reduced disclosure requirements while still applying the recognition, measurement and presentation requirements
in other IFRS accounting standards. To be eligible, at the end of the reporting period, an entity must be a subsidiary as defined in IFRS
10, cannot have public accountability and must have a parent (ultimate