Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 315

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 315
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 Transactions in foreign currencies are translated into the respective functional  
  currencies at the exchange rates at the dates of the transactions.                
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  All monetary assets and liabilities are translated into the                                          

  All non-monetary items that are measured based on historical cost in a foreign  

  Equity accounts are translated at the prevailing exchange rate at the time the capital contributions  
  were made and the profits were generated.                                                             
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  Revenues, costs and expenses are translated at the average exchange rate during the applicable period.  
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Any differences resulting from the remeasurement into the
respective functional currency are recognized in the consolidated statements of operations.

Assets and liabilities from foreign operations are converted
from the functional currency to the presentation currency at the exchange rate on the reporting date; revenues and expenses are translated
at each month during the year at the monthly average exchange rate.

Foreign currency differences arising on translation into the
presentation currency are recognized in OCI. Exchange differences on translation of foreign operations for the years ended December 31,
2024, 2023 and 2022 were US$(3,879), US$749and US$3,471, respectively.

For the years ended December 31, 2024, 2023 and 2022, the
most relevant exchange rates utilized in the conversions to US dollar are as follows:

  Schedule of most relevant exchange rates utilized in the conversions to USD dollar                                                                                                         
                                                                                          2024                                                                                               
  Currency                                                                                End of period                                                                                      
                                                                                          exchange rate                                                                                      
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Mexican Peso                                                                                                20.2683       18.3000       16.8935       17.7665       19.3615       20.1254  
  Colon                                                                                                      512.2300      517.3692      524.7900      545.1760      594.9700      649.5908  
  Quetzal                                                                                                     7.71833        7.7695        7.8301        7.8428        7.8515        7.7765  
  Colombian Peso