Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 50

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 50
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 marketing, aircraft ownership and other operating expenses to support our anticipated growth; and  
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  the timing and amount of maintenance expenditures.  

Due to the factors described above and others described in
this annual report, quarter-to-quarter comparisons of operating results may not be good indicators of our future performance. In addition,
it is possible that in any quarter our operating results could be below the expectations of investors and any published reports or analyses
regarding our company. In that event, the price of the ADSs could decline, perhaps substantially.

We do not have a control group.

Since the completion of our initial public offering on September
23, 2013, we have not had a control group and corporate decisions requiring shareholder approval, such as the election of a majority of
the board of directors, are made by the majority of our Series A shareholders, which shares are required to be owned by Mexican nationals.
We do not have a control group because holders of ADSs and CPOs do not have voting rights, and the CPOs and ADSs are voted by the CPO
trustee in the same manner as the majority of the holders of Series A shares that are not represented by CPOs or ADSs. Thus, there are
no large groups holding a large block. Furthermore, it is unlikely that a significant block of shareholders
will form in the future because no person or group of persons is permitted to acquire more than 5% of our outstanding capital stock without
our board of directors’ consent. As a result, a shareholder or shareholders of a very small number of Series A shares could determine
the outcome of any shareholder vote without being a control group.

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  Table of Contents  

We are a holding company and do not have any material assets other than
the shares of our subsidiaries and our trademarks.

We are a holding company and conduct our operations through
a series of operating subsidiaries. We support these operating subsidiaries with technical and administrative services through various
other subsidiaries. All of the assets we use to perform administrative and technical services and to operate the concessions and authorizations
are held at the subsidiary level. As a result, we do not have any material assets other than the shares of our subsidiaries and our trademarks.
Dividends or payments that we may be required to make will be subject to the availability of cash provided by our subsidiaries. Transfers
of cash from our subsidiaries to us may be further limited