Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 298

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 298
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 9, 2005 initially for a period of five yearsand was extended on February 17, 2010
for an additional period of10years. On February 24, 2020, Concesionaria’s concession was extended for a20-year
term starting on May 9, 2020.

Concesionaria made its first commercial flight as a low-cost
airline on March 13, 2006. Concesionaria operates under the trade name of “ Volaris.” On June 11, 2013, Controladora
Vuela Compañía de Aviación, S. A. P. I. de C. V. changed its corporate name to Controladora Vuela Compañía
de Aviación, S. A. B. de C. V.

On September 23, 2013, the Company completed its dual
listing Initial Public Offering on the New York Stock Exchange (“ NYSE”) and on the Mexican Stock Exchange (Bolsa Mexicana
de Valores, or “ BMV”), and on September 18, 2013 its shares started trading under the ticker symbol “ VLRS”
and “ VOLAR,” respectively.

On November 16, 2015, certain shareholders of the Company
completed a secondary follow-onequity offering on the NYSE.

On December 11, 2020, the Company announced the closing
of an upsized primary follow-on equity offering in which the Company offered134,000,000of its Ordinary Participation Certificates (Certificados
de Participación Ordinarios), or CPOs, in the form of American Depositary Shares, or ADSs, at a price to the public of US$11.25per ADS in the United States and other countries outside of Mexico, pursuant to the Company’s shelf registration statement filed
with the Securities and Exchange Commission (the “ SEC”). In connection with the offering, the underwriters exercised their
option to purchase up to20,100,000additional CPOs in the form of ADSs. Each ADS represents10CPOs and each CPO represents a financial
interest in oneSeries A share of common stock of the Company.

On November 10, 2016, the Company, through its subsidiary
Vuela Aviación, S. A. (“ Volaris Costa Rica”), obtained from the Costa Rica Civil Aviation Authority an Air Operator
Certificate to provide air transportation services for passengers, cargo and mail