Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 158

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 158
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 Opco. The asset backed trust notes have a five-year maturity with annual principal reduction of Ps.187.5 million, Ps.750.0
million and Ps.562.5 million (U. S.$9.3 million, U. S.$37 million and U. S.$27.8 million, as of December 31, 2024 based on an exchange rate
of Ps.20.27 to U. S.$1) in 2026, 2027 and 2028, respectively, with a floating one-month coupon rate referenced to TIIE 28 plus a 215 basis
points spread. The asset-backed trust notes will start amortizing at the end of the third year.

Other financing agreements

We entered into several agreements that qualified as failed
sale and leaseback transactions. Consequently, these agreements were accounted for as financing transactions. The details of these agreements
are presented as follows:

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In September 2023, we entered into financing agreements with
Tarquin Limited for the acquisition of engines, bearing an annual interest of 6.20% and mature in 2028.

In September 2023, we entered into financing agreements with
NBB-V11218 Lease Partnership and with NBB-V11951 Lease Partnership, for the acquisition of engines, bearing an annual interest of 6.20%
and mature in 2028.

In September and October 2023, we entered into financing agreements
with Wilmington Trust SP Services (Dublin) Limited (not in its individual capacity but solely as Owner Trustee) for the acquisition of
engines, bearing an annual interest of 7.16% and mature in 2028.

In November 2023, we entered into financing agreements with NBB Pintail
Co Ltd for the acquisition of engines, bearing an annual interest of 6.99% and mature in 2028.

In August, September, November and December 2024, we entered
into financing agreements with Bank of Utah Corporate Trust, for the acquisition of engines. These agreements bear an annual interest
rate of 6.20% and mature in 2029.

In October and November 2024, we entered into financing agreements
with BOC Aviation (Ireland) Limited for the acquisition of engines. These agreements bear an annual interest rate of 6.86% and mature
in 2029.

In November 2024, we entered into new financing agreements with RRPF