Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 353

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 353
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381,255                                                                                                        
  Total liabilities from financing activities            US$                  273,035      US$                  358,899      US$                       US$                            US$                                      

  (1)      This balance is net of interest provisions and interest effectively paid  
           as of December 31, 2024 and 2023, respectively.                           
 ─────────────────────────────────────────────────────────────────────────────────────

6. Cash and cash equivalents

As of December 31, 2024 and 2023, this caption is comprised
as follow:

  Schedule of cash                                                                                                  
                                                                          2024                   2023               
  Cash in banks                                                           US$       281,358      US$       117,764  
  Cash on hand                                                                          657                    850  
  Short-term investments (Highly liquid investments/cash equivalent)                617,432                642,604  
  Funds held in trust related to debt service reserves                                8,534                 12,936  
  Total cash and cash equivalents                                         US$       907,981      US$       774,154  

As of December 31, 2024 and 2023, the Company recorded a portion
of advance ticket sales by an amount of US$8,534and US$12,936, respectively, as a fund (Note 1d). The funds held in Trusts are used to
constitute the debt service reserves.

7. Related parties

a) An analysis of balances due from/to related parties at
December 31, 2024 and 2023 is provided below.

All companies are considered affiliates, since the Company’s
primary shareholders or directors are also direct or indirect shareholders or directors of the related parties:

  Schedule of balances due from/to related parties                                                                                                                                                 
                                                                        Type of transaction                             Country of origin      2024                 2023                  Terms    
  Due from:                                                                                                                                                                                        
  Frontier Airlines Inc. (“ Frontier”)                                  Code-share                                      USA                    US$       2,161      US$            -      30 days  
  Due to:                                                                                                                                                                                          
  MRO Commercial, S. A. (“ MRO”)                                        Aircraft maintenance and technical support      El Salvador            US$         979      US$            8      30 days  
  Frontier Airlines Inc. (“ Frontier”)                                  Code-share                                      USA                                662                 1,918      30 days  
  A& P International Services, S. A