Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 148

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 148
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3) million, respectively. As of December 31, 2024, our tax loss carry-forwards
amounted to U. S. $0.8 (compared to U. S. $131.2 million as of December 31, 2023).

During the year ended December 31, 2023, we utilized U. S.
$15.5 million in available tax loss carry-forwards, while in 2024, the utilization increased to U. S. $107.9 million. The effective tax
rate for 2023 was (5.1%), whereas in 2024 was 30.8%.

2022 compared to 2023

                                              For the years ended December 31,                                         
                                                                          2022       2023      Variation               
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                       (In thousands of dollars, except for %)                                         
  (Loss) income before income tax                                    (132,363)      7,442        139,805      n/a      
  Income tax benefit                                                    52,139        377       (51,762)      (99.3)%  
  Net (loss) income                                                   (80,224)      7,819         88,043      n/a      

During
the years ended December 31, 2022 and 2023, we recorded a tax benefit of U. S. $52.1 million and U. S.$ 0.4 million, respectively. As of
December 31, 2023, our tax loss carry-forwards amounted to U. S. $131.2 million (compared to U. S. $127.9 million as of December 31, 2022).

During the year ended December 31, 2022, we utilized U. S.
$4.0 million in available tax loss carry-forwards, while in 2023, the utilization increased to U. S. $15.5 million. The effective tax rate
for 2022 was 39.4%, whereas in 2023, it was (5.1%).

Selected Consolidated Financial Information and Operating Data

The following tables summarize selected financial
and operating data for our business for the periods presented. You should read this selected consolidated financial data in conjunction
with our audited consolidated financial statements, including the related notes thereto, included elsewhere in this annual report. We