Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 262

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 11
Chunk 262
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 depositary will deliver the deposited securities
at its office, if feasible; provided, however, that non-Mexican holders may not hold Series A shares directly, but will hold CPOs
representing a financial interest in such Series A shares as described in this prospectus.

Voting Rights

ADS holders have no voting rights and do not have the power
to instruct the depositary to vote the shares underlying the CPOs underlying such ADSs.

Fees and Expenses

The following table sets forth the applicable fees for various services,
transactions and activities related to the ADSs.

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  Table of Contents  

  Persons                                                                                                                                           For:                                                                                                                               
  U. S.                                                                                                                                             Issuance                                                                                                                           
                                                                                                                                                    Cancellation                                                                                                                       
  U. S.                                                                                                                                             Any                                                                                                                                
  A                                                                                                                                                 Distribution                                                                                                                       
  U. S.                                                                                                                                             Depositary                                                                                                                         
  Registration                                                                                                                                      Transfer                                                                                                                           
  Expenses                                                                                                                                          Conversion                                                                                                                         
  Expenses                                                                                                                                          Cable,                                                                                                                             
  Taxes                                                                                                                                             As                                                                                                                                 
  From                                                                                                                                                                                                                                                                                 

Payment of Taxes

The depositary may deduct the amount of any taxes owed from
any payments to ADS holders. It may also sell deposited securities, by public or private sale, to pay any taxes owed. ADS holders will
remain liable if the proceeds of the sale are not enough to pay the taxes. If the depositary sells deposited securities, it will, if appropriate,
reduce the number of ADSs to reflect the sale and pay or distribute to applicable ADS holder any proceeds or property remaining after
it has paid the taxes.

Reclassifications, Recapitalizations and Mergers

  If We:                                                                                                                   Then:                                                                                                                                                                                                 
  Change the nominal or par value of the CPOs                                                                              The cash, shares or other securities received by the depositary will become deposited securities. Each ADS will automatically represent its equal share of the new deposited securities.              
  Reclassify, split up or consolidate any of the deposited securities                                                      The depositary may distribute some or all of the cash, shares or other securities it received. It may also deliver new ADRs or ask ADR holders to surrender their outstanding ADRs in exchange fo...  
  Distribute securities on the CPOs that are not distributed to ADS holders                                                If dividend securities are first distributed in respect of outstanding Series A                                                                                                                       
  Recapitalize, reorganize, merge, liquidate, sell all or substantially all of our assets