Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 339

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 339
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ARCB19) coupons for reference rate
determination, coupon term and fair value.

The following table shows the sensitivity
analysis of the change that would have occurred in the fair value of the interest hedging instrument on the CEBUR (VOLARCB19) in 2023
as a result of a reasonably possible change in rates, keeping all other variables constant:

  Schedule of sensitivity                                                      
                               Change in          Effect on cap (1)            
                                                  (In thousands of             
                     2023      + 0.50             US$                      14  
                               - 0.50                                    ( 13  

  (1)      The effect would affect OCI in relation to the interest rate caps.  

In addition, during November 2021, the Trust entered into
a cap to mitigate the risk due to interest rate increases on the CEBUR (VOLARCB21L) coupon payments. The floating rate coupons reference
to TIIE 28 are limited under the cap to10% on the reference rate for the life of the CEBUR (VOLARCB21L) and have the same amortization
schedule.

The cap started on November 3, 2021, and the maturity date
is October 20, 2026, consisting of59“caplets” with the same specifications as the CEBUR (VOLARCB21L) coupons for reference
rate determination, coupon term and fair value.

The following table shows the sensitivity
analysis of the change that would have occurred in the fair value of the interest hedging instrument on the CEBUR (VOLARCB21L) in 2024
and 2023 as a result of a reasonably possible change in rates, keeping all other variables constant:

          Schedule of sensitivity                                                       
                                       Change in          Effect on cap (1)             
                                                          (In thousands of              
                             2024      + 0.50             US$                      100  
                                       - 0.50                                     ( 70  
                             2023      + 0.50             US$                      311  
                                       - 0.50                                    ( 269  

  (1)      The effect would affect OCI in relation to the interest rate caps.  

In October 2023, the Trust entered into a cap to mitigate
the risk due to interest rate increases on the CEBUR (VOLARCB23) coupon payments. The floating rate coupons reference to TIIE 28 are limited
under