Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 345

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 345
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 input that is significant to the fair value measurement as a whole) at the end of each reporting
period.

For the purpose of fair value disclosures, the Company has
determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level
of the fair value hierarchy as explained above.

Set out below is a comparison by class of the carrying amounts
and fair values of the Company’s financial instruments, other than those for which carrying amounts are reasonable approximations
of fair values:

  Schedule of carrying amounts and fair values of financial instruments                                                                                                                                           
                                                                             Carrying amount                                                             Fair value                                               
                                                                             December 31, 2024                     December 31, 2023                     December 31, 2024                     December 31, 2023  
  Assets                                                                                                                                                                                                          
  Derivative financial Instruments                                           US$                          702      US$                        1,683      US$                          702      US$                
  Liabilities                                                                                                                                                                                                     
  Financial debt (Interest-bearing loans and borrowings)                                            ( 800,112                             ( 649,153                             ( 846,456                         
  Total                                                                      US$                    ( 799,410      US$                    ( 647,470      US$                    ( 845,754      US$                

The following table summarizes the fair value measurements by
hierarchy as of December 31, 2024:

                                                        Fair value measurement                                                                                                                                                    
                                                        Quoted prices in active markets Level 1      Significant observable inputs Level 2                     Significant unobservable inputs Level 3      Total                 
  Assets                                                                                                                                                                                                                          
  Derivatives financial instruments:                                                                                                                                                                                              
  Jet Fuel Asian Call Options (1)                       US$                                          US$                                              431      US$                                          US$              431  
  Interest rate Caps                                                                                                                                  271                                                                    271  
  Liabilities                                                                                                                                                                                                                     
  Liabilities for which fair values are disclosed:                                                                                                                                                                                
  Interest-bearing loans and borrowings (2)                                                                                                     ( 846,456                                                              ( 846,456  
  Net                                                   US$                                          US$                                        ( 845,754      US$                                          US$        ( 845,754  

  (1)      Jet fuel forward levels.  

  (2)      SOFR curve and TIIE Mexican interbank rate. Includes short-term and long-term debt.  

There werenotransfers between level 1 and level 2 during
the period.

The following table summarizes the fair value measurements
by hierarchy