Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 371

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 371
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 in the consolidated statements
of operations under the caption of salaries and benefits over the service period.

During the years ended December 31, 2024, 2023 and 2022, the
Company recorded a benefit of US$1,131, US$119and US$4,365, respectively, in the consolidated statements of operations. During the years
ended 2024, 2023 and 2022, SARs were not exercised.

The summary related to expense recognized for the Company’s
retention plans during the years 2024, 2023 and 2022 is shown in the following table:

  Schedule of retention plan (benefit) expenses                                                                                     
                                                                     2024                   2023                 2022               
  Benefit                                                            US$       ( 1,131      US$       ( 119      US$       ( 4,365  
  Expense                                                                        6,309                6,048                  5,074  
  Total                                                              US$         5,178      US$       5,929      US$           709  

c) Board of Directors Incentive Plan (BoDIP)

Certain members of the Board of Directors of the Company receive
additional benefits through a share-based plan, which has been classified as an equity-settled share-based payment and therefore accounted
under IFRS 2 “ Share-based payment.”

In April 2018, the Board of Directors of the Company authorized
a Board of Directors Incentive Plan “ BoDIP,” for the benefit of certain board members. The BoDIP grants options to acquire
shares of the Company, or CPOs, during a five-year period with an exercise share price at Ps. 0, Ps. 0and Ps. 33.80for the years ended
2024, 2023 and 2022, respectively, which was determined on the grant date. Under this plan, no service or performance conditions are required
for the board members to exercise the option to acquire shares, and therefore, they have the right to request the delivery of those shares
at the time they pay for them.

For such purposes, on August 29,
2018, the Fideicomiso Irrevocable de Administración número CIB/3081 was created by Controladora Vuela Compañía
de Aviación S. A. B de C. V as trustee and CIBanco, S. A., Institución de Banco