Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 112

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4
Chunk 112
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 Share administration trust      Mexico       100.00%        

  Aircraft administration trusts: We have formed the following aircraft administration trusts:  

                                                                                  % Equity       
  Name                            Principal Activities               Country      Interest 2024  
  Bank of Utah, Trust N503VL      Aircraft administration trust      Mexico       100.00%        
  Bank of Utah, Trust N504VL      Aircraft administration trust      Mexico       100.00%        

  Consolidation by control  

  Name                                        Principal Activities                   Country  
  North Star Financing Limited (1) (SPV)      Private company limited by shares      Ireland  
 ──────────────────────────────────────────────────────────────────────────────────────────────

  (1)      As of December 31, 2024, the Company does not hold an ownership interest in North                                                      

D. Property, Plants and Equipment

We lease all of our facilities at each of the airports we serve.
Our leases for our terminal passenger service facilities, which include ticket counter, gate space, operations support area and baggage
service offices, generally are for terms ranging from one to three years and contain provisions for periodic adjustments of lease rates.
We expect to either renew these leases or find alternative space that would permit us to continue providing our services. Under the terms
of these leases, we are responsible for maintenance, insurance and other facility-related expenses and services. We have also entered
into use agreements at each of the airports we serve that provide for the non-exclusive use of runways, taxiways and other facilities.
Landing fees under these agreements are based on the number of landings and weight of the aircraft. In addition, we sublease a hangar
facility at Tijuana airport and an additional platform through June 30, 2027 and July 1, 2031, respectively.

Our primary corporate offices and headquarters are located in Mexico
City at Av. Antonio Dovalí Jaime No.70, 13th Floor, Tower B, Colonia Zedec Santa Fe, México City, zip code 01210, where
we lease 6,656 square meters pursuant to a lease that is expected to expire in June 2031.

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  Table of Contents  

ITEM 4A UNRESOLVED STAFF COMMENTS