Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 349

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 349
---
 as grams of CO2 emissions per revenue passenger/kilometer (gCO2 / RPK) by21.54%,24.08%
and25.53% by 2022, 2023 and 2024, respectively, compared to 2015. This offering will help the Company accomplish its long-term sustainable
goals, among which is to reduce CO2 emissions by35.42% in 2030.

A feature of the asset-backed trust notes is that they will
pay an additional25basis points to the interest rate if the sustainability goals are not met. On September 20, 2023, the interest rate
increased by25basis points, with the possibility of mitigating the additional rate if the targets are met for the next years.

The notes have a five-yearmaturity annual reductions of Ps. 83,333,
Ps. 500,000, Ps. 500,000and Ps. 416,667(US$4.1million, US$24.7million, US$24.7million and US$20.6million, based on an exchange rate
of Ps. 20.27to US$1on December 31, 2024) in 2023, 2024, 2025 and 2026, respectively, with a floating one-month coupon rate referenced
to TIIE 28 plus200basis points, and adjustment of25basis points starting on September 20, 2023. The notes started amortizing at the
end of the second year.

On September 28, 2023, the Mexican National Banking and Securities
Commission (Comisión Nacional Bancaria y de Valores) approved an increase amount of the actual program of up to Ps. 5.0 billion
Mexican pesos (US$246.7million, based on an exchange rate of Ps. 20.27to US$1on December 31, 2024). With this authorization, the Company,
through its subsidiary Concesionaria, issued in the Mexico market a third issuance of15,000,000asset-backed trust notes (“ CEBUR”)
under the ticket VOLARCB23 for Ps. 1.5billion (US$74million, based on an exchange rate of Ps. 20.27to US$1on December 31, 2024) through
the Fideicomiso Irrevocable de Administración número CIB/3249 created by Concesion