Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 114

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 114
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 by paying customers,
is calculated by dividing RPMs by ASMs. The average passenger revenues per booked passenger represents the total passenger revenue divided
by booked passengers.

Our
most significant passenger revenue includes revenues generated from: (i) fare revenue and (ii) other passenger revenues. Other passenger
services include but are not limited to fees charged for excess baggage, bookings through the call center or third-party agencies, advanced
seat selection, itinerary changes and charters. They are recognized as revenue when the obligation of passenger transportation service
is provided by the Company or when the non-refundable ticket expires on the date of the scheduled travel. 48% of our total operating
revenues were derived from other passenger revenues in 2024.

We
also classify as other passenger revenue “ V-Club” and other similar services, which are recognized as revenue over time when
the service is provided.

Non-Passenger Revenues

The
most significant non-passenger revenues include revenues generated from: (i) revenues from other non-passenger services described below
and (ii) cargo services. In 2024, we derived U. S. $132.2 million, or 4.2%, of our total operating revenues from these sources.

Revenues from other non-passenger services mainly include
but are not limited to commissions charged to third parties for the sale of trip insurance and other services. These as well as cargo
services, are recognized as revenue at the time the service is provided.

We also evaluate, in each new transaction where applicable,
the principal versus agent considerations concerning certain non-air travel service arrangements with third-party providers. When we
determine that the underlying services are provided through third parties who are primarily responsible for providing the services, revenue
for these specific non-air travel services is presented on a net basis (agent).

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  Table of Contents  

Statements of Operations data

                                                   2022      2023      2024  
 ─────────────────────────────────────────────────────────────────────────────
  Operating revenues                                                         
  Passenger revenues:                                                        
  Fare revenues                                      58        51        48  
  Other passenger revenues                           38        45        48  
  Non-passenger revenues:                                                    
  Other non-passenger revenues                        3         3         3  
  Cargo                                               1         1         1  
  Total operating revenues                          100       100       100  
  Other operating income                            (1)       (2