Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 370

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 370
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 the shares granted under the Company’s
share purchase plans is as follows:

  Schedule of vesting period of shares granted                      
                     Number of Series A shares      Vesting period  
                                     5,070,172      November 2025   
                                     3,685,587      November 2026   
                                     1,736,571      November 2027   
                                    10,492,330                      

In accordance with IFRS 2, the share purchase plans are classified
as equity-settled transactions on the grant date. This valuation is the result of multiplying the total number of Series A shares deposited
in the Administrative Trust and the price per share, plus the balance in cash deposited in the Administrative Trust.

For the years ended December 31, 2024, 2023 and 2022, the
compensation expense recorded in the consolidated statements of operations amounted to US$6,309, US$6,048and US$5,074, respectively.

During 2024, there were no forfeited shares. During 2023,
some key employees left the Company; therefore, the vesting conditions were not fulfilled. In accordance with the terms of the plan, Servicios
Corporativos is entitled to receive the proceeds of the sale of such shares; the number of forfeited shares as of December 31, 2023
was330,453.

b) MIP

- MIP II

On February 19, 2016, the Board of Directors of the Company
authorized an extension to the MIP for certain key executives. Such extension was modified on November 6, 2016. Under MIP II,13,536,960share appreciation rights of our Series A shares were granted to be settled annually in cash in a period of five yearsin accordance with the established service conditions.
In addition, a five-yearextension to the period in which the employees can exercise MIP II once the SARs are vested was approved.

Fair value of the SARs is measured at each reporting period
using a Black-Scholes option pricing model, taking into consideration the terms and conditions granted to the employees. The amount of
the cash payment is determined based on the increase in our share price between the grant date and the settlement date.

The carrying amount of the liability relating to the SARs
as of December 31, 2024 and 2023 was US$146and US$1,433, respectively. The compensation cost is recognized