Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 258

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 11
Chunk 258
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 rate cap with a notional amount of Ps.3.16 billion (U. S. $187.4
million based on an exchange rate of Ps.16.89 to U. S. $1 on December 31, 2023) and a fair value of U. S. $1.7 million. As of December 31,
2024, we had an outstanding hedging contract in the form of an interest rate cap with a notional amount of Ps.2.42 billion (U. S. $119.2
million based on an exchange rate of Ps.20.27 to U. S. $1 on December 31, 2024) and a fair value of U. S. $0.3 million. These instruments
are included as assets in our consolidated statements of financial position.

Our financial debt, as recognized in our consolidated statements
of financial position, consists of the revolving line of credit with Santander and Bancomext; lines of credit with JSA International U. S.
Holding, GY Aviation Lease 1714 Co. Limited, Incline II B Shannon 18 Limited and Oriental Leasing Company Limited, asset-backed trust
notes ( CEBUR) issued in the Mexican Market and other financing agreements relating to engines with Tarquin Limited, Wilmington
Trust SP Services (Dublin) Limited, NBB- V11218 Lease Partnership, NBB- V11951 Lease Partnership, NBB Pintail Co. Ltd, Bank of Utah Corporate
Trust, RRPF Engine Leasing Limited and BOC Aviation (Ireland) Limited.

ITEM 12 DESCRIPTION OF
SECURITIES OTHER THAN EQUITY SECURITIES

  Debt Securities  

Not Applicable.

  Warrants and Rights  

Not Applicable.

  Other Securities  

Not Applicable.

  153  

  Table of Contents  

  American Depositary Shares  

The Bank of New York Mellon, as depositary, will register
and deliver American Depositary shares, also referred to as ADSs. Each ADS will represent ten CPOs (or a right to receive ten CPOs) deposited
with Indeval, as custodian for the depositary. Each ADS will also represent any other securities, cash or other property which may be
held by the depositary. The depositary’s office at which the ADSs will be administered is located at 101 Barclay Street, New York,
New York 10286.

ADSs may be held either (a)