Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 373

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 373
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As of December 31, 2023, the total number of the Company’s
authorized shares was1,165,976,677, represented by common registered shares, issued and with nopar value, fully subscribed and paid,
comprised as follows:

                                 Shares                                               
                                 Fixed Class I                                        
  Series A shares (1)            24,180             1,165,952,497      1,165,976,677  
  Series B shares (1)            —                              —                  —  
                                 24,180             1,165,952,497      1,165,976,677  
  Treasury shares (Note 18)      —                   ( 14,525,694       ( 14,525,694  
                                 24,180             1,151,426,803      1,151,450,983  

  (1)      During the year ended December 31, 2023, a total of 330,453 forfeited shares have been included as part  

On November 22, 2023, the holders of all of the57,513,873outstanding Series B shares of the Company concluded the conversion of all Series B Shares into57,513,873Series A Shares represented
by Ordinary Participation Certificates in the form of the corresponding American Depositary Shares.

All shares representing the Company’s capital stock,
either Series A shares or Series B shares, grant the holders the same economic rights, and there are no preferences and/or restrictions
attaching to any class of shares on the distribution of dividends and the repayment of capital. Holders of the Company’s Series
A common stock and Series B common stock are entitled to dividends when, and if, declared by a shareholders’ resolution. The Company’s
revolving line of credit with Santander and Bancomext limits the Company’s ability to declare and pay dividends if the Company fails
to comply with the payment terms thereunder. Only Series A shares from the Company are listed.

During the years ended December 31, 2024, 2023 and 2022, the
Company did not declare any dividends.

In accordance with the Mexican Corporations Act, the Company
is required to allocate at least 5% of the net income of each year to increase the legal reserve. This practice must be continued until
the legal reserve reaches 20% of capital stock. As of December 31, 2024, 2023 and 202