Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 239

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 239
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 share representing our capital stock at any time,
such Series A share will be forfeited to the Mexican government. The Mexican Foreign Investment Law permits non-Mexican investors to hold
our Series A shares indirectly through neutral shares or securities such as the CPOs.

Duration

Our corporate existence under our by-laws is indefinite.

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  Table of Contents  

Purchase of Shares by Us

We will be able to purchase our shares (or CPOs evidencing
such shares) through the Mexican Stock Exchange at the prevailing market prices for the shares at the time of purchase. The economic and
voting rights corresponding to repurchased shares will not be exercised during the period the shares are owned by us, and the shares will
not be deemed outstanding for purposes of calculation any quorum or vote at any shareholders’ meeting. We will not be required to
create a special reserve for the repurchase of shares and we will not require the approval of our board of directors to effect share repurchases.
However, we will require the approval of our shareholders in respect of the maximum amount that may be used for share repurchases and
our board of directors must appoint an individual or group of individuals for effecting share repurchases. Share repurchases will have
to be made subject to the provisions of applicable law, including the LMV, and carried out, reported and disclosed in the manner specified
by the CNBV. If we intend to repurchase shares representing more than 1% of our outstanding capital stock at a single trading session,
we will be required to inform the public of such intention, at least ten minutes before submitting our bid.

If we intend to repurchase shares representing 3% or more
of our outstanding capital stock during any rolling period of twenty trading days, we will be required to conduct a public tender
offer for such shares.

On April 21, 2023, our shareholders approved the establishment
of a repurchase program (the “ Repurchase Program”), of our shares in accordance with the terms set forth in Article 56 of
the LMV and the applicable articles of the Regulations Applicable to Issuers of Securities and Other Participants of the Securities Market
( Disposiciones de carácter general aplicables a las emisoras de valores y a otros participantes del mercado de valores)
and the development of the terms and conditions of the Repurchase Program.

In
addition, our board of directors was given the authority to develop the terms and conditions of the Repurchase Program taking into