Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 297

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 297
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 financial debt                                                                                     ( 208,087)        ( 97,909)         ( 196,565)  
  Proceeds from financial debt                                                                                      385,240          456,808            155,357  
  Net cash flows used in financing activities                                                                    ( 471,570)       ( 214,386)         ( 513,088)  
  Increase (decrease) in cash and cash equivalents                                                                  145,639           53,395          ( 30,180)  
  Net foreign exchange differences on cash balance                                                                ( 11,812)            8,906                911  
  Cash and cash equivalents at beginning of year                                                                    774,154          711,853            741,122  
  Cash and cash equivalents at end of year                                                                      US$ 907,981      US$ 774,154        US$ 711,853  

The accompanying notes are an integral part of these consolidated
financial statements.

  F-10  

CONTROLADORA VUELA COMPAÑÍ A DE AVIACIÓ N,

(d. b. a. VOLARIS)

Notes to Consolidated Financial Statements

For the years ended December 31, 2024 and 2023

(In thousands of U. S. dollars, except when indicated otherwise)

1. Description of the business and summary of material
accounting policy informatio

Controladora Vuela Compañía de Aviación,
S. A. B. de C. V. (“ Controladora”) was incorporated in Mexico in accordance with the laws of Mexico on October 27, 2005. These
consolidated financial statements comprise the Controladora and its subsidiaries (together referred to as the “ Company”).

Controladora is domiciled in Mexico City at Av. Antonio Dovali
Jaime No. 70, 13th Floor, Tower B, Colonia Zedec Santa Fe, Mexico City, Mexico, 01210.

The Company, through its subsidiary Concesionaria Vuela Compañía
de Aviación, S. A. P. I. de C. V. (“ Concesionaria”), has a concession to provide air transportation services for passengers,
cargo and mail throughout Mexico and abroad.

Concesionaria’s concession was granted by the Mexican
federal government through the Mexican Infrastructure, Communications and Transportation Ministry (Secretaría de Infraestructura,
Comunicaciones y Transportes) on May