Document:

EX-10.17

 Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the
information subject to the confidentiality request. Omissions are designated as [*****]. A complete version of this exhibit has been filed separately with the Securities and Exchange Commission. 

Exhibit 10.17 
 AIRCRAFT LEASE AGREEMENT 
 Dated as of March 26, 2007 

between 

Concesionaria Vuela Compañía de Aviación, S.A. de C.V. 

as Lessee 
 and

 Arrendadora Financiera Inbursa, S.A. de C.V. 
 Sociedad Financiera de Objeto Multiple, Entidad Regulada, 
 Grupo
Financiero Inbursa 
 as Lessor 
  

			
	Aircraft Make and Model:	  	One (1) New Airbus A319-133
	Aircraft Manufacturer’s Serial Number:	  	3077
	Aircraft Registration Mark:	  	XA-VOF
	Engine Make and Model:	  	IAE V2527M-A5
	Engine Serial Numbers:	  	V12561 and V12563

									
	TABLE OF CONTENTS	  	 	 
			
	 1.
	 	DEFINITIONS	  	 	11	  
				
		 	1.1	 	General Definitions	  	 	11	  
				
		 	1.2	 	Specific Definitions	  	 	17	  
			
	 2.
	 	DELIVERY	  	 	18	  
				
		 	2.1	 	Delivery	  	 	18	  
				
		 	2.2	 	Delivery Date	  	 	18	  
				
		 	2.3	 	Delivery Subject to the Purchase Agreement Assignment	  	 	18	  
				
		 	2.4	 	No Lessor Liability	  	 	18	  
				
		 	2.5	 	Total Loss of Aircraft Prior to the Delivery Date	  	 	18	  
				
		 	2.6	 	Termination of the Purchase Agreement Assignment	  	 	19	  
			
	 3.
	 	LEASE TERM	  	 	20	  
				
		 	3.1	 	Lease Term	  	 	20	  
				
		 	3.2	 	Termination Date	  	 	20	  
			
	 4.
	 	SECURITY DEPOSIT, RENT, MAINTENANCE FUNDS AND OTHER PAYMENTS	  	 	21	  
				
		 	4.1	 	Security Deposit	  	 	21	  
				
		 	4.2	 	Rent	  	 	21	  
				
		 	4.3	 	Maintenance Funds	  	 	22	  
				
		 	4.4	 	Allocation of Payments	  	 	24	  
				
		 	4.5	 	Lessor’s Bank Account	  	 	24	  
				
		 	4.6	 	Default Interest	  	 	24	  
				
		 	4.7	 	No Deductions or Withholdings	  	 	25	  
				
		 	4.8	 	Value Added Taxes	  	 	26	  
				
		 	4.9	 	Currency Indemnity	  	 	27	  
				
		 	4.10	 	Lessor Performance of Lessee Obligation	  	 	27	  
				
		 	4.11	 	Consideration for Rent and Other Amounts	  	 	28	  
			
	 5.
	 	CONDITION OF AIRCRAFT	  	 	29	  
				
		 	5.1	 	Lessee Selection of Aircraft	  	 	29	  
				
		 	5.2	 	Condition at the Delivery Date	  	 	29	  

  
 2(138)

									
				
		 	5.3	 	Delivery of Aircraft to Lessee	  	 	29	  
				
		 	5.4	 	Lessee Acceptance of Aircraft	  	 	29	  
			
	6.	 	PRE-DELIVERY, DELIVERY AND POST DELIVERY DOCUMENTARY AND OTHER REQUIREMENTS	  	 	30	  
				
		 	6.1	 	Pre-Delivery Requirements	  	 	30	  
				
		 	6.2	 	Delivery Requirements	  	 	31	  
				
		 	6.3	 	Post Delivery Requirements	  	 	32	  
			
	7.	 	DISCLAIMERS	  	 	33	  
				
		 	7.1	 	As Is, Where Is	  	 	33	  
				
		 	7.2	 	Waiver of Warranty of Description	  	 	33	  
				
		 	7.3	 	Lessee Waiver	  	 	34	  
				
		 	7.4	 	Conclusive Proof	  	 	34	  
				
		 	7.5	 	No Lessor Liability for Losses	  	 	34	  
				
		 	7.6	 	No Liability to Repair or Replace	  	 	34	  
				
		 	7.7	 	No Waiver	  	 	35	  
			
	8.	 	MANUFACTURERS’ AND VENDORS’ WARRANTIES	  	 	36	  
				
		 	8.1	 	Warranties	  	 	36	  
				
		 	8.2	 	Reassignment	  	 	36	  
				
		 	8.3	 	Warranty Claims	  	 	36	  
			
	9.	 	OPERATION OF AIRCRAFT	  	 	37	  
				
		 	9.1	 	Costs of Operation	  	 	37	  
				
		 	9.2	 	Compliance with Laws and Insurance	  	 	37	  
				
		 	9.3	 	Training	  	 	37	  
				
		 	9.4	 	No Violation of Insurance Policies	  	 	37	  
				
		 	9.5	 	Flight and Airport Charges	  	 	38	  
			
	10.	 	SUBLEASES	  	 	39	  
				
		 	10.1	 	No Sublease without Lessor Consent	  	 	39	  
				
		 	10.2	 	Lessor Costs	  	 	39	  
				
		 	10.3	 	Prohibited Countries	  	 	39	  
				
		 	10.4	 	Approved Subleases	  	 	39	  
				
		 	10.5	 	Assignment of Sublease	  	 	40	  

  
 3(138)

									
				
		 	10.6	 	Wet Leases	  	 	41	  
				
		 	10.7	 	Continued Responsibility of Lessee	  	 	41	  
			
	 11.
	 	MAINTENANCE OF AIRCRAFT	  	 	42	  
				
		 	11.1	 	General Obligation	  	 	42	  
				
		 	11.2	 	Specific Engine Requirements	  	 	42	  
				
		 	11.3	 	Specific Obligations	  	 	43	  
				
		 	11.4	 	Replacement of Parts	  	 	44	  
				
		 	11.5	 	Removal of Engines	  	 	45	  
				
		 	11.6	 	Installation of Engines on Other Aircraft	  	 	45	  
				
		 	11.7	 	Removal of APU	  	 	46	  
				
		 	11.8	 	Modifications	  	 	46	  
				
		 	11.9	 	Performance of Work by Third Parties	  	 	48	  
				
		 	11.10	 	Reporting Requirements	  	 	48	  
				
		 	11.11	 	Lessor Rights to Inspect Aircraft	  	 	48	  
				
		 	11.12	 	Airworthiness Directives Cost Sharing	  	 	49	  
			
	 12.
	 	USE OF MAINTENANCE FUNDS	  	 	51	  
				
		 	12.1	 	Airframe Structural Maintenance Fund	  	 	51	  
				
		 	12.2	 	Engine Performance Restoration Maintenance Fund	  	 	51	  
				
		 	12.3	 	Engine LLP Maintenance Fund	  	 	52	  
				
		 	12.4	 	APU Maintenance Fund	  	 	52	  
				
		 	12.5	 	Landing Gear Maintenance Fund	  	 	52	  
				
		 	12.6	 	Contribution	  	 	52	  
				
		 	12.7	 	Contribution Adjustment	  	 	53	  
				
		 	12.8	 	Costs in Excess of Maintenance Funds	  	 	53	  
				
		 	12.9	 	Contribution after Termination Date and Retention of Maintenance Funds	  	 	53	  
			
	 13.
	 	TITLE, REGISTRATION AND IDENTIFICATION	  	 	55	  
				
		 	13.1	 	Title to the Aircraft	  	 	55	  
				
		 	13.2	 	Registration of Aircraft	  	 	55	  
				
		 	13.3	 	Registration of this Lease	  	 	55	  
				
		 	13.4	 	Registration of Title	  	 	56	  

  
 4(138)

									
				
		 	13.5	 	Registration of Security Interest	  	 	56	  
				
		 	13.6	 	Evidence of Registration and Filings	  	 	56	  
				
		 	13.7	 	Identification Plates	  	 	56	  
			
	14.	 	TAXES	  	 	57	  
				
		 	14.1	 	General Obligation of Lessee	  	 	57	  
				
		 	14.2	 	Exceptions to Indemnity	  	 	57	  
				
		 	14.3	 	After Tax Basis	  	 	59	  
				
		 	14.4	 	Timing of Payment	  	 	59	  
				
		 	14.5	 	Contests	  	 	59	  
				
		 	14.6	 	Refunds	  	 	59	  
				
		 	14.7	 	Cooperation in Filing Tax Returns	  	 	60	  
				
		 	14.8	 	Survival of Obligations	  	 	60	  
				
		 	14.9	 	Protection	  	 	60	  
				
		 	14.10	 	Mitigation	  	 	60	  
			
	15.	 	INDEMNITIES	  	 	61	  
				
		 	15.1	 	General Indemnity	  	 	61	  
				
		 	15.2	 	Exceptions to General Indemnities	  	 	62	  
				
		 	15.3	 	After Tax Basis	  	 	63	  
				
		 	15.4	 	Timing of Payment	  	 	63	  
				
		 	15.5	 	Subrogation	  	 	63	  
				
		 	15.6	 	Notice	  	 	63	  
				
		 	15.7	 	Refunds	  	 	63	  
				
		 	15.8	 	Defense of Claims	  	 	64	  
				
		 	15.9	 	Survival of Obligation	  	 	64	  
			
	16.	 	INSURANCE	  	 	65	  
				
		 	16.1	 	Categories of Insurance	  	 	65	  
				
		 	16.2	 	Write Back of Any Date Recognition Exclusion	  	 	65	  
				
		 	16.3	 	Third Party War Liability Insurance	  	 	65	  
				
		 	16.4	 	Installation of Third Party Engine	  	 	65	  
				
		 	16.5	 	Insurance for Indemnities	  	 	66	  
				
		 	16.6	 	Renewal	  	 	66	  

  
 5(138)

									
				
		 	16.7	 	Assignment of Rights by Lessor	  	 	66	  
				
		 	16.8	 	Deductibles	  	 	66	  
				
		 	16.9	 	Insurance for Wet Lease Operations	  	 	67	  
				
		 	16.10	 	Information	  	 	67	  
				
		 	16.11	 	Currency	  	 	67	  
				
		 	16.12	 	Grounding of Aircraft	  	 	67	  
				
		 	16.13	 	Failure to Insure	  	 	67	  
				
		 	16.14	 	Reinsurance	  	 	68	  
				
		 	16.15	 	Limit on Hull in favor of Lessee	  	 	68	  
				
		 	16.16	 	AVN 67B	  	 	68	  
			
	17.	 	LOSS, DAMAGE AND REQUISITION	  	 	69	  
				
		 	17.1	 	Definitions	  	 	69	  
				
		 	17.2	 	Notice of Total Loss	  	 	70	  
				
		 	17.3	 	Total Loss of Aircraft or Airframe	  	 	70	  
				
		 	17.4	 	Surviving Engine(s)	  	 	71	  
				
		 	17.5	 	Total Loss of Engine and Not Airframe	  	 	71	  
				
		 	17.6	 	Total Loss of APU	  	 	72	  
				
		 	17.7	 	Other Loss or Damage	  	 	73	  
				
		 	17.8	 	Government Requisition	  	 	73	  
				
		 	17.9	 	Temporary or Cautionary Detention or Securement	  	 	74	  
			
	18.	 	REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSEE	  	 	75	  
				
		 	18.1	 	Representations and Warranties	  	 	75	  
				
		 	18.2	 	Covenants	  	 	78	  
			
	19.	 	REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSOR	  	 	81	  
				
		 	19.1	 	Representations and Warranties	  	 	81	  
				
		 	19.2	 	Covenant of Quiet Enjoyment	  	 	82	  
			
	20.	 	FINANCIAL AND OTHER INFORMATION	  	 	83	  

  
 6(138)

									
			
	 21.
	 	RETURN OF AIRCRAFT	  	 	85	  
				
		 	21.1	 	Date of Return	  	 	85	  
				
		 	21.2	 	Last Engine Shop Visits	  	 	85	  
				
		 	21.3	 	Technical Report	  	 	85	  
				
		 	21.4	 	Return Location	  	 	86	  
				
		 	21.5	 	Full Aircraft Documentation Review	  	 	86	  
				
		 	21.6	 	Copy of Lessee’s Maintenance Program	  	 	86	  
				
		 	21.7	 	Aircraft Inspection	  	 	86	  
				
		 	21.8	 	FAA or EASA Compliant	  	 	87	  
				
		 	21.9	 	Certificate of Airworthiness Matters	  	 	88	  
				
		 	21.10	 	General Condition of Aircraft at Return	  	 	88	  
				
		 	21.11	 	Checks Prior to Return	  	 	90	  
				
		 	21.12	 	Part Lives	  	 	93	  
				
		 	21.13	 	Export and De-registration of Aircraft	  	 	94	  
				
		 	21.14	 	Lessee’s Continuing Obligations	  	 	95	  
				
		 	21.15	 	Return Acceptance Receipt	  	 	95	  
				
		 	21.16	 	Indemnities and Insurance	  	 	96	  
				
		 	21.17	 	Storage	  	 	96	  
			
	 22.
	 	ASSIGNMENT	  	 	97	  
				
		 	22.1	 	No Assignment by Lessee	  	 	97	  
				
		 	22.2	 	Sale or Assignment by Lessor	  	 	97	  
				
		 	22.3	 	Lessor’s Lender	  	 	98	  
				
		 	22.4	 	Lessee Cooperation	  	 	98	  
				
		 	22.5	 	Change of Governing Law	  	 	98	  
				
		 	22.6	 	Protections	  	 	99	  
			
	 23.
	 	DEFAULT OF LESSEE	  	 	101	  
				
		 	23.1	 	Lessee Notice to Lessor	  	 	101	  
				
		 	23.2	 	Events of Default	  	 	101	  
				
		 	23.3	 	Lessor’s General Rights	  	 	103	  
				
		 	23.4	 	De-registration and Export of Aircraft	  	 	105	  
				
		 	23.5	 	Lessee Liability for Damages and Prejudices	  	 	105	  

  
 7(138)

									
				
		 	23.6	 	Waiver of Default	  	 	106	  
				
		 	23.7	 	Present Value of Payments	  	 	106	  
				
		 	23.8	 	Use of Termination Date	  	 	107	  
				
		 	23.9	 	Mitigation of Damages	  	 	107	  
			
	24.	 	NOTICES	  	 	108	  
				
		 	24.1	 	Manner of Sending Notices	  	 	108	  
				
		 	24.2	 	Notice Information	  	 	108	  
			
	25.	 	GOVERNING LAW AND JURISDICTION	  	 	109	  
				
		 	25.1	 	Governing Law	  	 	109	  
				
		 	25.2	 	Jurisdiction	  	 	109	  
				
		 	25.3	 	Waiver of Sovereign Immunity	  	 	109	  
				
		 	25.4	 	Prevailing Party in Dispute	  	 	109	  
				
		 	25.5	 	Waivers	  	 	110	  
			
	26.	 	MISCELLANEOUS	  	 	111	  
				
		 	26.1	 	Expenses	  	 	111	  
				
		 	26.2	 	Power of Attorney	  	 	111	  
				
		 	26.3	 	Lessor Performance for Lessee	  	 	112	  
				
		 	26.4	 	Lessor’s Payment Obligations	  	 	112	  
				
		 	26.5	 	Materiality	  	 	112	  
				
		 	26.6	 	Usury Laws	  	 	112	  
				
		 	26.7	 	Delegation by Lessor	  	 	113	  
				
		 	26.8	 	Confidentiality	  	 	113	  
				
		 	26.9	 	Rights of Parties	  	 	113	  
				
		 	26.10	 	Further Assurances	  	 	114	  
				
		 	26.11	 	Spanish Language Version Prevails	  	 	114	  
				
		 	26.12	 	Use of Word “including”	  	 	114	  
				
		 	26.13	 	Headings	  	 	114	  
				
		 	26.14	 	Invalidity of Any Provision or Illegality	  	 	115	  
				
		 	26.15	 	Time Limitations	  	 	115	  
				
		 	26.16	 	Amendments in Writing	  	 	115	  
				
		 	26.17	 	Ratified Signatures	  	 	115	  
				
		 	26.18	 	Entire Agreement	  	 	115	  

  
 8(138)

			
	
	 LIST OF EXHIBITS

		
	EXHIBIT A	  	ENGINE PERFORMANCE RESTORATION SHOP VISIT
		
	EXHIBIT B	  	PROHIBITED COUNTRIES
		
	EXHIBIT C	  	FORM OF CERTIFICATE OF INSURANCE
		
	EXHIBIT D	  	FORM OF BROKERS’ LETTER OF UNDERTAKING
		
	EXHIBIT E	  	FORM OF ACCEPTANCE CERTIFICATE
		
	EXHIBIT F	  	FORM OF POWER OF ATTORNEY
		
	EXHIBIT G	  	RETURN ACCEPTANCE RECEIPT
		
	EXHIBIT H	  	FORM OF MONTHLY REPORT
		
	EXHIBIT I	  	TECHNICAL EVALUATION REPORT
		
	EXHIBIT J	  	FORM OF DEPOSIT AGREEMENT
		
	EXHIBIT K	  	FORM OF LEGAL OPINION

  
 9(138)

 AIRCRAFT LEASE AGREEMENT 

THIS AIRCRAFT LEASE AGREEMENT (this “Lease”) is made and entered into as of March 26, 2007 

BETWEEN: 
 Concesionaria Vuela
Compañía de Aviación, S.A. de C.V., a Mexican company whose address and principal place of business is at Prolongacion Paseo de la Reforma No. 490, Piso 1, Col. Santa Fe Peña Blanca, De. Alvaro Obregon,
México, D.F. 01012 (“Lessee”) 
 AND 
 Arrendadora Financiera Inbursa, S.A. de C.V. Sociedad Financiera de Objeto Multiple, Entidad Regulada, Grupo Financiero Inbursa, a Mexican company whose address and principal place of business is
at Insurgentes Sur No. 3500, P.B., Col. Peña Pobre, Mexico, D.F., C.P. 14060
(“Lessor”).1 

 

	1 	The Lessor does not have approval of the Ministry of Finance and Public Credit as such is not required, however it shall be subject to the supervision of the National
Banking and Stock Commission. 

  
 10 

 The subject matter of this Lease is one (1) new Airbus A319-133 aircraft (as more particularly
described in the Acceptance Certificate). In consideration of and subject to the mutual covenants, terms and conditions contained in this Lease which reflects the determinant motivation of their will to enter into the same, Lessor hereby agrees to
lease to Lessee and Lessee hereby agrees to lease from Lessor the Aircraft (as hereinafter defined) and the parties further agree as follows: 
  

	1.	DEFINITIONS 

 Except where
the context otherwise requires, the following words have the following meanings for all purposes of this Lease. The definitions are equally applicable to the singular and plural forms of the words. Any agreement defined below includes each
amendment, modification, supplement and waiver thereto in effect from time to time. 
  

	1.1	General Definitions 

“Acceptance Certificate” means the acceptance certificate substantially in the form of Exhibit E hereto.

 “Aircraft” means the Airframe, two (2) Engines, APU, Parts and Aircraft Documentation, as the context
permits or requires, individually or collectively. 
 “Aircraft Documentation” means all (a) log books,
Aircraft records, manuals and other documents provided to Lessee in connection with and relating to the Aircraft, (b) documents listed in the Acceptance Certificate and (c) any other documents required to be maintained in respect of the
Aircraft or any Part thereof during the Lease Term and until the Termination Date by the Aviation Authority, Lessee’s Maintenance Program and this Lease. 
 “Airframe” means the airframe listed in the Acceptance Certificate executed at Delivery together with all Parts relating thereto (excluding the Engines or any engines and the APU).

 “Air Navigation Charges” include all navigation, over-flight charges and other charges incurred in connection
with air navigation or movement of aircraft. 
 “Airport Charges” include all charges incurred in connection
with the landing, parking or taking off of aircraft at airports or for the use of, or for services provided at, airports. 

“Airworthiness Directives” or “ADs” means all airworthiness directives (or equivalent) applicable to the
Aircraft issued by the Aviation Authority, the FAA and all Consignes de Navigabilite issued by the French Direction Generale de l’Aviation Civile. 
 “APU” means (a) the auxiliary power unit listed in the Acceptance Certificate executed at Delivery, (b) any replacement auxiliary power unit acquired by Lessor and leased by
Lessor to Lessee pursuant to Article 17.6 following a Total Loss of the APU and (c) all Parts installed in or on such APU at Delivery (or substituted, renewed or replacement Parts in accordance with this Lease) so long as title thereto is
or remains vested in Lessor in accordance with the terms of Article 11.4. 

  
 11(138)

 “Aviation Authority” means the Dirección General de
Aeronáutica Civil of Mexico or any Government Entity which under the Laws of Mexico from time to time has control over civil aviation or the registration, airworthiness, maintenance standards or operation of aircraft in Mexico. If the
Aircraft is registered in a country other than Mexico, “Aviation Authority” means the agency which regulates civil aviation in such other country. 
 “Aviation Documents” means any or all of the following which at any time may be obtained from the Aviation Authority: (a) a ferry flight permit from the Aviation Authority allowing
the Aircraft to be flown after Delivery to the State of Registration, (b) a duly filed application for registration of the Aircraft with the Aviation Authority, (c) the certificate of registration for the Aircraft issued by the Aviation
Authority with Lessor listed as owner of the Aircraft, (d) a standard certificate of airworthiness for the Aircraft specifying transport category (passenger) and evidencing registration of Lessee as operator of the Aircraft, (e) such
recordation of Lessor’s title to the Aircraft and Lessor’s or Lessor’s Lender’s interest in this Lease and Lessor’s Lender’s security interest in the Aircraft as may be available in the State of Registration,
(f) concession and/or air transport permit, (g) an air operator’s certificate, including the Aircraft listed as incorporated in the Operations Specifications of Lessee and (h) all such other authorizations, approvals, consents
and certificates in the State of Registration as may be required to enable Lessee lawfully to operate the Aircraft. 

“Business Day” means a day other than a Saturday or Sunday on which the banks in New York City, London, England, and in
Mexico City, Mexico are open for the transaction of business of the nature required by this Lease. 
 “Cape Town
Convention” means the Convention on International Interests in Mobile Equipment (the “Convention”) and the Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment
(the “Protocol”), both signed in Cape Town, South Africa on November 16, 2001 together with any protocols, regulations, rules, orders, agreements, instruments, amendments, supplements, revisions or otherwise that have or may be
subsequently made in connection with the Convention and/or the Protocol by the “Supervisory Authority” (as defined in the Protocol), the “International Registry” or “Registrar” (as defined in the Convention) or an
appropriate “registry authority” (as defined in the Protocol) or any other international or national body or authority having jurisdiction over Lessee or the Aircraft. 

“Creditor” means any lessor, owner, bank, lender, mortgagee or other Person which is the owner of or has any interest in
an aircraft engine or aircraft operated by Lessee. 
 “Creditor Agreement” means the applicable agreement
between a Creditor and Lessee or between Creditors pursuant to which such Creditor owns, leases or has an interest in either an aircraft operated by Lessee on which an Engine may be installed or in an aircraft engine which may be installed on the
Airframe. 

  
 12(138)

 “Cycle” means (a) with respect to the Airframe, one take-off and
landing of the Aircraft and (b) with respect to an Engine, one take-off and landing of the aircraft on which the relevant Engine is installed. 
 “Default” means any event which, upon the giving of notice, the lapse of time and/or a relevant determination, would constitute an Event of Default. 

“Delivery” means the delivery of the Aircraft from Lessor to Lessee pursuant to Articles 2 and 5 of this Lease.

 “Delivery Date” means the date on which Delivery takes place. 

“Delivery Location” means the Manufacturer’s facilities in Hamburg, Germany. 

“Deposit Agreement” means the irrevocable deposit agreement entered as of the date of this Lease between Lessor and
Lessee in accordance to which Lessee shall have delivered to Lessor a security deposit in the amount of ***** in order to guarantee the compliance by Lessee with its obligations under this Lease for its lease of the Aircraft, substantially in the
form of Exhibit J hereto. 
 “Dollars”, “$” and “US$” mean the
lawful currency of the U.S. 
 “EASA” means the European Aviation Safety Agency or any successor thereto.

 “Engine” means (a) each of the IAE V2527M-A5 engines bearing manufacturer’s serial number V12561
and V12563 respectively, (b) any replacement engine acquired by Lessor and leased by Lessor to Lessee pursuant to Article 17.5 following a Total Loss of an Engine and (c) all Parts installed in or on any of such engines at Delivery
(or substituted, renewed or replacement Parts in accordance with this Lease) so long as title thereto is or remains vested in Lessor in accordance with the terms of Article 11.4. 

“Engine Performance Restoration Shop Visit” shall have the meaning as set forth in Exhibit A. 

“Event of Default” means any of the events referred to in Article 23.2. 

“FAA” means the Federal Aviation Administration of the Department of Transportation or any successor thereto under the
Laws of the U.S. 
 “FARs” means the U.S. Federal Aviation Regulations embodied in Title 14 of the U.S.
Code of Federal Regulations, as amended from time to time, or any successor regulations thereto. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 13(138) 

 “Flight Hour” means (a) with respect to the Airframe, each hour or
part thereof (rounded up to the nearest two (2) decimal places) elapsing from the moment the wheels of the Aircraft leave the ground on take-off until the wheels of the Aircraft next touch the ground on the next following landing, and
(b) with respect to an Engine, each hour or part thereof (rounded up to the nearest two (2) decimal places) elapsing from the moment the wheels of the aircraft on which the relevant Engine is installed leave the ground on take-off until
the wheels of such aircraft next touch the ground on the next following landing. 
 “Geneva Convention” means
the Convention on the International Recognition of Rights in Aircraft signed in Geneva, Switzerland, on June 19, 1948. 

“Government Entity” means any (a) federal, state or local government, (b) board, commission, department,
division, instrumentality, court, agency or political subdivision thereof and (c) association, organization or institution of which any of the entities listed in (a) or (b) is a member or to whose jurisdiction any such entity is
subject. 
 “Heavy Repair” has, in relation to the APU, the meaning ascribed to such term in the OEM’s
Component Maintenance Manual Section 4.1 General Workscope Related Definitions, as revised. 
 “Landing
Gear” means the installed main and nose landing gear, components and their associated actuators, side braces and parts. 

“Law” means any (a) statute, decree, constitution, regulation, rule, norm, order or any directive of any Government
Entity, (b) treaty, pact, compact or other agreement to which any Government Entity is a signatory or party, (c) judicial or administrative interpretation or application of any of the foregoing, (d) any binding judicial precedent
having the force of law or any jurisprudence issued by the Supreme Court of Mexico. 
 “Lease” means this
Aircraft Lease Agreement, together with all Exhibits hereto. 
 “Lessee’s Parent” means Controladora Vuela
Compañía de Aviación S.A. de C.V., a Mexican company. 
 “Lessor’s Lien” means any
Security Interest created by or attributable to Lessor or any Lessor’s Lender or any affiliate of either. 

“LIBOR” means in relation to any period and amount in respect of which an interest rate falls to be determined pursuant
to this Lease: 
  

	 	(a)	 the British Banking Association (BBA) US Dollar fixing of the London Inter Bank Offered Rate, as appearing on page BBAMI of Bloomberg (or successor or
replacement page), or failing that, Reuters (or successor 

  
 14(138)

	 	
or replacement page), or failing that, an equivalent page published by an alternative information provider for the specified period after 11.00 a.m. on the quotation date therefore; or

  

	 	(b)	if the applicable rate is not published as set forth in subsection a) of this definition, or is not determined in any way whatsoever, the applicable rate shall be the
rate the market recognizes as the rate that has expressly replaced or substituted such rate, furthermore, in the event that either the applicable rate ceases to exist or a replacement rate is not expressly established, the parties shall convene to
agree in good faith on a new applicable rate within three (3) Business Days following such event. 

 For the
purposes of this definition, specified period means the period having a duration equal to or as close as practicable to the relevant period in respect of which LIBOR falls to be determined. 

“LLP” means any life limited Part. 
 “Maintenance Program” means Lessee’s maintenance program as approved by the Aviation Authority or such other maintenance program as Lessor may approve in writing, with such approval
not to be unreasonably withheld. 
 “Manufacturer” means Airbus S.A.S. 

“Medium Repair” has, in relation to the APU, the meaning ascribed to such term in the OEM’s Component Maintenance
Manual Section 4.1 General Workscope Related Definitions, as revised. 
 “Mexico” means the United Mexican
States. 
 “MPD” means at any relevant time, the latest revision of the Maintenance Planning Document published
by Manufacturer and applicable to the Aircraft. With respect to the hour/cycle/calendar time limitation of Parts and inspections, references to the MPD mean the most restrictive limitation set forth therein. 

“Operative Documents” means each of this Lease, any amendments hereto, the Acceptance Certificate, the Warranty
Assignments and any other documentation in connection with the leasing of the Aircraft by Lessee from Lessor. 

“Overhaul” means the full reconditioning of the Airframe, an Engine, the APU, Landing Gear, module or Part, as the case
may be, in which such equipment has been disassembled (in accordance with Manufacturer’s and/or Maintenance Program requirements, as applicable), cleaned, thoroughly inspected and returned to the highest standard specified by, excluding the
Engines, the applicable manufacturer’s overhaul manuals, and, in case of the Engines, the Engine manufacturer’s maintenance management plan. 

  
 15(138)

 “Part” means any part, component, appliance, system module, engine module,
accessory, material, instrument, communications equipment, furnishing, Lessee furnished or Lessor purchased equipment or other item of equipment (other than complete Engines or engines or the APU) for the time being installed in or attached to the
Airframe, any Engine or the APU or which, having been removed from the Airframe, any Engine or the APU, remains the property of Lessor. 
 “Permitted Lien” means (a) Lessor’s Liens, (b) Security Interests arising in the ordinary course of Lessee’s business for Taxes either not yet assessed or, if
assessed, not yet due or being contested in good faith in accordance with Article 14.5, (and for which adequate reserves have been made or, when required in order to pursue such proceedings, an adequate bond has been provided),
(c) materialmen’s, mechanics’, workmen’s, repairmen’s, employees’ liens or similar Security Interests arising by operation of Law after the Delivery Date in the ordinary course of Lessee’s business for amounts
which are either not yet due or are being contested in good faith by appropriate proceedings (and for which adequate reserves have been made or, when required in order to pursue such proceedings, an adequate bond has been provided) and
(d) liens in respect of judgments which have been outstanding for less than 30 days or which have been stayed pending appeal so long as, in the case of (b), (c) or (d) above, such proceedings do not involve any material
likelihood of sale, forfeiture or loss of the Aircraft. 
 “Person” means any individual including any
individual conducting business activities, or any legal entity including any firm, partnership, joint venture, trust, corporation, company, limited liability company, Government Entity, committee, department, authority or any body, incorporated or
unincorporated, whether having distinct legal personality or not. 
 “Prohibited Country” means any country
comprised by Exhibit B, as revised from time to time. 
 “Purchase Agreement” means the A320 Family
Purchase Agreement dated October 28, 2005 between Manufacturer, as seller, and Lessee’s Parent, as purchaser in respect of the Aircraft. 
 “Purchase Agreement Assignment” means the Purchase Agreement Assignment dated March 28, 2007, between Lessee’s Parent, as assignor, Lessor, as assignee, and Lessee, as lessee,
in respect of the Purchase Agreement, including the Consent and Agreement of Manufacturer. 
 “Security
Interest” means any encumbrance or security interest, however and wherever created or arising including (without prejudice to the generality of the foregoing) any right of ownership, security, mortgage, pledge, charge, encumbrance, lease,
lien, statutory or other right in rem, hypothecation, title retention, attachment, levy, claim, or right of possession or detention. 

  
 16(138)

 “State of Registration” means Mexico or such other country or state of
registration of the Aircraft as Lessor may approve in writing. 
 “U.S.” means the United States of America.

 “Warranty Assignments” mean (i) the Airframe Warranty Agreement dated as of March 28, 2007 among
Lessee’s Parent, Lessor and Lessee with the consent and agreement of Manufacturer in relation to the Airframe, and (ii) the Engine Warranty Assignment dated as of March 28, 2007 among IAE International Aero Engines AG, Lessee’s
Parent, Lessor and Lessee in relation to the Engines. 
  

	1.2	Specific Definitions 

 The
following terms are defined in the Articles referenced below: 
  

					
	Terms	  	Article	 
		
	 Agreed Value
	  	 	17.1	  
	 Airframe Structural Maintenance Fund
	  	 	4.3	  
	 APU Maintenance Fund
	  	 	4.3	  
	 Default Interest
	  	 	4.6	  
	 Engine Performance Restoration
	  			
	 Maintenance Fund
	  	 	4.3	  
	 Engine LLP Maintenance Fund
	  	 	4.3	  
	 Excluded Taxes
	  	 	14.2	  
	 Damages and Prejudices
	  	 	15.1	  
	 Expiration Date
	  	 	3.1	  
	 Indemnitees
	  	 	15.1	  
	 Landing Gear Maintenance Fund
	  	 	4.3	  
	 Lease Term
	  	 	3.1	  
	 Lessor’s Assignee
	  	 	22.2.1	  
	 Lessor’s Bank Account
	  	 	4.5	  
	 Lessor’s Lender
	  	 	22.3	  
	 Maintenance Fund
	  	 	4.3	  
	 Modification
	  	 	11.8.1	  
	 Multiparty Sublease
	  	 	10.4	  
	 Multiparty Sublessee
	  	 	10.4	  
	 Net Total Loss Proceeds
	  	 	17.1	  
	 Rent
	  	 	4.2	  
	 Security Deposit
	  	 	4.1	  
	 Tax Indemnitee
	  	 	14.1	  
	 Taxes
	  	 	14.1	  
	 Termination Date
	  	 	3.2	  
	 Total Loss
	  	 	17.1	  
	 Total Loss Date
	  	 	17.1	  
	 Total Loss Proceeds
	  	 	17.1	  
	 Waste Expense
	  	 	12.3	  

  
 17(138)

	2.	DELIVERY 

  

	2.1	Delivery 

 Subject to the
terms and conditions of this Lease, Lessor will deliver the Aircraft to Lessee on the Delivery Date (as defined in the Purchase Agreement Assignment) at the Delivery Location. 

 

	2.2	Delivery Date 

 This Lease
will commence on the Delivery Date (as defined in the Purchase Agreement Assignment), which is expected to be on or about March 28, 2007. On the Delivery Date, Lessee shall execute and deliver to Lessor the Acceptance Certificate confirming
Delivery and commencement of the Lease. 
  

	2.3	Delivery Subject to the Purchase Agreement Assignment 

 Lessor and Lessee expressly acknowledge that Delivery of the Aircraft to Lessee under this Lease is subject to and conditioned upon delivery of the Aircraft to Lessor under the Purchase Agreement
Assignment. 
  

	2.4	No Lessor Liability 

Lessor shall have no liability for any loss, damage or expense, or any loss of profit, arising from any delay or failure in Delivery to
Lessee unless such delay or failure arises as a direct consequence of the willful misconduct or breach of any obligation under this Lease of or by Lessor, and in no event shall Lessor be liable for any delay or failure which is caused by any breach
of this Lease or delay on the part of Lessee or Lessee’s Parent or by any breach of the Purchase Agreement or the Purchase Agreement Assignment other than by Lessor. 

 

	2.5	Total Loss of Aircraft Prior to the Delivery Date 

 If a Total Loss of the Aircraft occurs prior to the Delivery Date, this Lease shall automatically terminate and neither party will have any further liability to the other except that Lessor will return to
Lessee the Security Deposit and any prepaid Rent received by Lessor. 

  
 18(138)

	2.6	Termination of the Purchase Agreement Assignment 

 If the Purchase Agreement Assignment is terminated and/or the Delivery Date under the Purchase Agreement Assignment does not occur for any reason whatsoever, this Lease shall automatically terminate and
neither party will have any further liability to the other, except that Lessor will return to Lessee the Security Deposit and any prepaid Rent received by Lessor, provided that no Default or Event of Default has occurred under this Lease.
Notwithstanding the foregoing, Lessor shall be entitled to keep the Security Deposit if the Purchase Agreement Assignment is terminated and/or the Delivery Date under the Purchase Agreement Assignment does not occur for any reason not directly
attributable to Lessor. 

  
 19(138)

	3.	LEASE TERM 

  

	3.1	Lease Term 

 The term of
leasing of the Aircraft (“Lease Term”) shall be mandatory (“plazo forzoso”) from the time it commences on the Delivery Date and until and including September 30, 2016 (One Hundred Fourteen (114) months
after April 1, 2007) (“Expiration Date”). 
  

	3.2	Termination Date 

 This
Lease may terminate on any of the dates set forth below: 
  

	 	(a)	the Expiration Date, provided Lessee returns the Aircraft to Lessor on the Expiration Date in the condition required by Article 21; or 

 

	 	(b)	a date earlier than the Expiration Date, if: 

  

	 	(i)	there is a Total Loss of the Aircraft prior to the Delivery Date pursuant to Article 2.5; 

 

	 	(ii)	termination of this Lease occurs pursuant to Article 2.6; 

  

	 	(iii)	there is a Total Loss of the Aircraft and payment in full of all amounts payable by Lessee to Lessor is made to Lessor or Lessor’s Lender in accordance with and as
required under Article 17.3; or 

  

	 	(iv)	an Event of Default occurs and Lessor terminates this Lease and repossesses the Aircraft or otherwise terminates this Lease in accordance with Article 23.3.

  

	 	(c)	a date later than the Expiration Date if: 

  

	 	(i)	an Event of Default occurs hereunder by Lessee returning the Aircraft in the condition required by this Lease after the Expiration Date; or 

 

	 	(ii)	an Event of Default occurs and Lessor repossesses the Aircraft or otherwise terminates this Lease pursuant to Article 23.3. 

The “Termination Date” is the date on which this Lease terminates because one of the above has occurred. 

  
 20(138)

	4.	SECURITY DEPOSIT, RENT, MAINTENANCE FUNDS AND OTHER PAYMENTS 

  

	4.1	Security Deposit 

 In
accordance with and subject to the provisions of the Deposit Agreement, which shall be executed by the parties in the form attached hereto as Exhibit J, Lessee will pay Lessor a cash security deposit of ***** in connection with the leasing of
the Aircraft (the “Security Deposit”) and Lessor shall hold, apply, retain and return such Security Deposit in accordance with the applicable provisions of this Lease and the Deposit Agreement. 

 

	4.2	Rent 

  

	4.2.1	Subject to the adjustment pursuant to Article 4.2.2 below Lessee will pay Lessor the amount of ***** payable monthly in advance as rent for the Aircraft
(“Rent”). 

  

	4.2.2	The amount of Rent set out in Article 4.2.1 is based on the average of the nine (9) year and ten (10) year US Swap Rate being equal to *****. The amount
of Rent will increase or decrease, as the case may be, by ***** for each basis point such rate differs from ***** two (2) Business Days prior to the Delivery Date and will thereafter be fixed throughout the Lease Term. 

 

	4.2.3	 Lessee will pay Lessor the first payment of Rent during the Lease Term no later than on April 2, 2007. Such first payment of Rent will comprise
rent for the Aircraft on a prorated basis for the period from and including the Delivery Date until and including April 30, 2007. Each subsequent payment of Rent will be due monthly on the 1st day of each month during the Lease Term except that, if such day is
not a Business Day, the Rent will be due on the immediately succeeding Business Day. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 21(138) 

	4.3	Maintenance Funds 

  

	4.3.1	Lessee will pay to Lessor (or to whomever Lessor may from time to time designate in conformity with Article 4.3.6) contributions for the Maintenance Funds related
to the concepts described below, based on Lessee’s use of the Aircraft during the Lease Term, in the following amounts (individually, “Airframe Structural Maintenance Fund” “Engine Performance Restoration Maintenance
Fund,” “Engine LLP Maintenance Fund” “APU Maintenance Fund” and “Landing Gear Maintenance Fund”, and collectively “Maintenance Funds”). It is hereby agreed that the
Maintenance Funds shall be used for the benefit of the Aircraft as hereinafter determined and are for such purpose considered to be an integral part thereof. In accordance with the provisions of this Lease, Lessee shall be entitled to withdraw and
receive payment from such Maintenance Funds as provided for in this Lease with respect to agreed maintenance performed on the Aircraft, Airframe, Engines, APU and Landing Gear as applicable: 

 

			
	 Type of Maintenance Fund
	 	 Amount of Maintenance Fund

		
	Airframe Structural Maintenance Fund:	 	 6Y Check:      ***** per month
 12Y Check:    ***** per month

		
	Engine Performance Restoration Maintenance Fund:	 	***** for each Engine (payable when the Engine is utilized on the Aircraft or another aircraft)
		
	Engine LLP Maintenance Fund:	 	***** for each Engine (payable with the Engine is utilized on the Aircraft or another aircraft).
		
	APU Maintenance Fund:	 	***** per APU operating hour (payable when the APU is utilized on the Aircraft or another aircraft)
		
	Landing Gear Maintenance Fund:	 	*****

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 22(138) 

	4.3.2	The Engine Performance Restoration Maintenance Fund rate above assumes a Flight Hour-to-Cycle ratio of 1.8:1 and that the engine thrust levels have been de-rated *****.
Depending on Lessee’s Flight Hour-to-Cycle ratio for the Aircraft (or such other aircraft on which the Engine is installed) and the thrust rating of the Engines, the Engine Performance Restoration Maintenance Fund rate will be adjusted in
accordance with the following: 

  

																			
	 Ratio
	  	1:1	 	1.25:1	 	1.5:1	 	1.8:1	 	2:1	 	2.25:1	 	2.5:1	 	2.75:1	 	3:1
	 ***** de-rating US$ (2007)
	  	*****	 	*****	 	*****	 	*****	 	*****	 	*****	 	*****	 	*****	 	*****
	 ***** de-rating US$ (2007)
	  	*****	 	*****	 	*****	 	*****	 	*****	 	*****	 	*****	 	*****	 	*****

  

	4.3.3	 In the first calendar year of the Lease Term, Lessee will pay Engine Performance Restoration Maintenance Fund based upon an assumed Flight
Hour-to-Cycle ratio of 1.8:1. A calculation of Lessee’s actual Flight Hour-to-Cycle ratio will be made annually as of May 1st of each calendar year during the Lease Term, beginning on May 1, 2008, and any difference in Engine Performance
Restoration Maintenance Fund will be reconciled on the date when the next Maintenance Fund payment is due (in accordance with Article 4.3.6) following such calculation. Lessee’s actual Flight Hour-to-Cycle ratio during such calendar year
(or portion thereof) will set the Engine Performance Restoration Maintenance Fund for the succeeding calendar year. 

  

	4.3.4	 If in any calendar year (or portion thereof) of the Lease Term, the Airframe is operated more Cycles than the maximum number of Cycles which would
result from an average Flight Hour-to-Cycle cycle ratio of 1.25 to 1, Lessee will pay Lessor as additional Maintenance Fund ***** for each Airframe Cycle the Airframe actually operated during such period in excess of the number of Cycles which
result from an average Flight Hour-to-Cycle ratio of 1.25 to 1. A calculation will be made as of May 1st of each calendar year during the Lease Term, beginning on May 1, 2008, and such additional Maintenance Fund payment will be due and payable by Lessee on the date when the next Maintenance Fund
payment is due (in accordance with Article 4.3.6) following such calculation. Such additional Maintenance Fund payment will not be available for withdrawal to Lessee pursuant to Article 0. 

 

	4.3.5	 The amounts of the Maintenance Funds in this Article 4.3 are expressed in April 2007 U.S. Dollars and will increase annually by ***** on
May 1st of each calendar year during the Lease Term,
beginning on May 1, 2008. 

  

	4.3.6	 The Maintenance Funds will be paid by Lessee on or before the fifteenth (15th) day of the next calendar month following the month in which the Delivery Date occurs and thereafter monthly
during the Lease Term. If the fifteenth (15th) day of
any calendar month is not a Business Day, the Maintenance Funds will be due on the immediately succeeding Business Day. All Maintenance Funds for flying performed during the month in which the Termination Date occurs (and the preceding month, unless
paid) will be paid on the Termination Date, unless otherwise agreed by the parties. Lessee will pay the monthly Airframe Structural Maintenance Fund and the monthly Landing Gear Maintenance Fund on a prorated basis for any period not constituting a
full month during the Lease Term. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 23(138) 

	4.3.7	The Maintenance Funds shall be used for agreed maintenance, repair and overhaul of the Aircraft including the Airframe, Engine, Engine LLPs, APU and Landing Gear in
accordance with the provisions of this Article 4 and Article 12 of this Lease. The Maintenance Funds therefore are not considered a deposit and subject in each case to Lessee’s rights and Lessor’s obligations under
Article 12 and Article 17 of this Lease, cannot be subject of reimbursement to Lessee but shall be considered the sole and exclusive property of Lessor as owner of the Aircraft. No interest will accrue or be paid at any time to Lessee on
such Maintenance Funds and, subject to Lessor’s obligations under Article 12 and Article 17, Lessor may commingle the Maintenance Funds with Lessor’s general funds or may determine in its sole discretion that such be received and
administered by a designated third party which shall be acting as trustee in respect to such funds and which shall conduct the allocation thereof in accordance with this Lease. 

 

	4.4	Allocation of Payments 

Lessor or any third party designated in conformity with Article 4.3.7 of this Lease shall apply, hold, retain, invest, pay and
otherwise manage any amounts paid or recovered in respect of Lessee’s liabilities hereunder in accordance with the provisions of this Lease. 
  

	4.5	Lessor’s Bank Account 

  

	4.5.1	Payments due under this Lease will be made to the bank account(s) as Lessor may from time to time designate by written notice (the “Lessor’s Bank
Account”). 

  

	4.5.2	When it is stated in this Lease that an instalment of the Security Deposit, the monthly Rent, Maintenance Funds or any other payment is due or must be paid or made by
Lessee by a specified date, then such payment must actually be received by Lessor’s bank with instructions for deposit in Lessor’s Bank Account on or before such specified date. 

 

	4.6	Default Interest 

 If
Lessor does not receive the Rent or any other amount on or before the specific date when due, Lessee will pay Lessor as supplemental Rent (by way of agreed compensation of the cost of money and not as a conventional penalty) interest on any due and
unpaid amounts payable by Lessee under this Lease. Interest will be calculated at a per annum rate (based on a 360 day year) which is equal to ***** in effect on the date on which 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 24(138) 

 
the amount was originally due for the period from the date the amount originally was due through the date the amount actually is received at Lessor’s Bank Account or, in the case of
Lessor’s performance of Lessee’s obligations hereunder, from the date of payment by Lessor through the date of Lessee’s repayment to Lessor (“Default Interest”). 

 

	4.7	No Deductions or Withholdings 

  

	4.7.1	All payments by Lessee under this Lease, including the Security Deposit, Rent, Maintenance Funds, Default Interest, fees, indemnities or any other item, will be made in
full without any deduction or withholding whether in respect of setoff, counterclaim, duties, or Taxes (as defined in Article 14) imposed in the State of Registration or any jurisdiction from which such payments are made (other than Taxes
excluded under Article 14.2) unless Lessee is prohibited by Law from doing so, in which event Lessee will gross up the payment amount such that the net payment received by Lessor after any deduction or withholding equals the amounts called for
under this Lease. Lessee will also do all of the following: 

  

	 	(i)	Ensure that the deduction or withholding does not exceed the minimum amount legally required; 

 

	 	(ii)	Pay to the relevant Government Entities within the period for payment permitted by applicable Law the full amount of the deduction or withholding (including the full
amount of any deduction or withholding from any additional amount paid pursuant hereto); and 

  

	 	(iii)	Furnish to Lessor within thirty (30) days after each payment a certified copy of the corresponding tax form or an official receipt of the relevant Government
Entities involved, or such other evidence of payment as is in form and substance acceptable to Lessor, acting reasonably, for all amounts so deducted or withheld. 

 

	4.7.2	As of the date of this Lease, Lessor is situated in Mexico and both parties agree that as of the date of this Lease no withholding Taxes are applicable in respect to
any amounts payable hereunder by Lessee. Lessee will indemnify Lessor for any subsequent withholding Taxes imposed on any amounts payable hereunder arising as a result of changes in Mexican Law or the Law of any jurisdiction from which Lessee elects
to make payments occurring after the Delivery Date and during the Lease Term, except for any such Tax or Taxes as may arise in connection with a voluntary or involuntary assignment, sale or other disposition by Lessor or any Lessor’s Lender of
any of their respective right, title or interest in the Lease or the Aircraft or both which transfer does not arise as a result of the enforcement of any remedies by Lessor or Lessor’s Lender following the occurrence and during the continuation
of an Event of Default or an assignment, sale or other disposition made at the request by Lessee or otherwise rendered necessary as a result of an act or omission of Lessee. 

  
 25(138)

	4.8	Value Added Taxes 

 The
Rent and other amounts payable by Lessee under this Lease are exclusive of any sales or use tax, value added tax, or similar tax, duty or imposition. 
  

	4.10	Net Lease 

  

	4.10.1	This Lease is a net lease and Lessee’s obligation to pay Rent and make other payments in accordance with this Lease will be absolute and unconditional under any
and all circumstances and regardless of other events, including the following: 

  

	 	(a)	any right of setoff, counterclaim, recoupment, defense or other right (including any right of reimbursement) which Lessee may have against Lessor, Manufacturer, the
Engine manufacturer or any other Person for any reason, including any claim Lessee may have for the foregoing; 

  

	 	(b)	unavailability or interruption in use of the Aircraft for any reason, including a requisition thereof or any prohibition or interference with or other restriction
against Lessee’s use, operation or possession of the Aircraft (whether by Law or otherwise), any defect in title, airworthiness, merchantability, fitness for any purpose, condition, design, specification or operation of any kind or nature of
the Aircraft, the ineligibility of the Aircraft for any particular use or trade or for registration under the Laws of any jurisdiction or Total Loss of the Aircraft. In consideration of the foregoing and to the fullest extent applicable, Lessee
hereby waives any rights in accordance with the provisions of Article 2445 and other applicable of the Federal Civil Code.; 

  

	 	(c)	insolvency, concurso mercantil, bankruptcy, judicial recuperation, reorganization, arrangement, readjustment of debt, dissolution, liquidation, receivership,
administration or similar proceedings by or against Lessor, Lessee, Manufacturer, the Engine manufacturer or any other Person; 

  

	 	(d)	invalidity or unenforceability or lack of due authorization of or other defect in this Lease; 

 

	 	(e)	failure or delay on the part of any party to perform its obligations under this Lease; or 

 

	 	(f)	any other circumstance which but for this provision would or might have the effect of terminating or in any other way affecting any obligation of Lessee hereunder,
other than a Total Loss, provided that Lessor shall have received all amounts then due and owing by Lessee to Lessor hereunder. 

  
 26(138)

	4.10.2	This Lease shall not, except as expressly stated herein, be cancellable by Lessee and Lessee hereby expressly waives any and all right which it may now or at anytime
hereafter have, whether by statute or otherwise, to terminate, abate, cancel, quit, reduce, defer, suspend, or surrender this Lease, the Aircraft or any obligation assumed by Lessee hereunder. Nothing in this Article 4.10 will be construed to
limit Lessee’s right to separately pursue in a court of law any claim it may have against any Person arising as a result of the breach of any obligation of such Person to Lessee. 

 

	4.9	Currency Indemnity 

 If
under any applicable Law, whether as a result of a judgment against Lessee or the liquidation of Lessee or for any other reason, any payment hereunder is required to be made or recovered in a currency other than Dollars then, to the extent that the
payment (when converted into Dollars at the “rate of exchange” on the date of payment or, in the case of a liquidation, the latest date for the determination of liabilities permitted by the applicable Law) falls short of the amount payable
under this Lease, Lessee will as a separate and independent obligation, fully indemnify Lessor against the amount of the shortfall. If the amount received by Lessor upon converting the payment into Dollars exceeds the amount payable under this
Lease, Lessor will remit such excess to Lessee. For the purposes of this paragraph “rate of exchange” means the rate at which Lessor is able on the relevant date to purchase Dollars in New York or London (at Lessor’s option) with such
other currency. 
  

	4.10	Lessor Performance of Lessee Obligation 

 If Lessee fails to make any payment under this Lease to a third party in connection with the Aircraft or fails to perform any other obligation required under this Lease, Lessor may (but is not required
to) at its election after the expiry of any applicable grace periods and without having waived all or any of its rights in Law and/or hereunder, perform such obligation and/or pay such amount. Within five (5) Business Days after written notice
to Lessee of the amount paid by Lessor on behalf of Lessee, Lessee will repay such amount together with Default Interest from the date of payment by Lessor until the date of repayment by Lessee. Any payment or performance by Lessor of a Lessee
obligation hereunder will not affect the occurrence or continuance of the corresponding Event of Default, provided, however, that Lessee’s repayment of the amounts required under this Article shall be sufficient to cure such Event of Default.

  
 27(138)

	4.11	Consideration for Rent and Other Amounts 

 The amount of the Rent and other payments contained herein are in consideration of Lessee’s waiver of warranties and indemnities set forth in Articles 7 and 15, respectively, and the other
provisions of this Lease. 

  
 28(138)

	5.	CONDITION OF AIRCRAFT 

  

	5.1	Lessee Selection of Aircraft 

 LESSEE COVENANTS TO LESSOR THAT LESSEE HAS USED ITS OWN JUDGMENT IN SELECTING THE AIRCRAFT AND HAS DONE SO BASED ON ITS SIZE, DESIGN, TYPE AND ALL OTHER FACTS AND CIRCUMSTANCES AS RELEVANT TO LESSEE AND
ITS BUSINESS. LESSEE ACKNOWLEDGES THAT LESSOR IS NOT A MANUFACTURER, REPAIRER OR SERVICING AGENT OF THE AIRCRAFT. 
  

	5.2	Condition at the Delivery Date 

 At the Delivery Date, the Aircraft will be in the same condition as delivered to Lessor under the Purchase Agreement. 
  

	5.3	Delivery of Aircraft to Lessee 

 Subject to Lessee having satisfied all of the conditions precedent to Delivery set forth herein or the waiver of any of the same by Lessor in Lessor’s discretion, Lessor will tender the Aircraft for
Delivery to Lessee on the Delivery Date at the Delivery Location. Upon the tender of the Aircraft by Lessor to Lessee, Lessee will accept the Aircraft and deliver to Lessor the Acceptance Certificate, duly executed. The date of tender by Lessor to
Lessee in accordance with this Lease will be deemed to be the Delivery Date for all purposes under this Lease, including, but not limited to, the commencement of Lessee’s obligation to pay Rent hereunder. 

 

	5.4	Lessee Acceptance of Aircraft 

 If Lessee fails to comply with the conditions contained in Articles 6.1 and 6.2 and, as a result thereof, Delivery under this Lease cannot take place, or if Lessee fails to take Delivery of the
Aircraft when properly tendered for Delivery by Lessor in accordance with the terms and conditions set out herein, Lessee will indemnify Lessor and hold Lessor harmless from all costs, expenses and damages enumerated or otherwise described in
Article 23.3 which are incurred by Lessor as a direct result thereof. 

  
 29(138)

	6.	PRE-DELIVERY, DELIVERY AND POST DELIVERY DOCUMENTARY AND OTHER REQUIREMENTS 

 

	6.1	Pre-Delivery Requirements 

Lessee will do at its cost each of the following within the time frames set forth below: 

 

	6.1.1	On or prior to the Delivery Date, Lessee will deliver to Lessor each of the following, each in form and substance satisfactory to Lessor:

  

	 	(a)	copies of resolutions of the Board of Directors of Lessee or other written evidence of appropriate corporate action, duly certifying and authorizing the lease of the
Aircraft hereunder and the execution, delivery and performance of this Lease, together with an incumbency certificate as to the person or persons authorized to execute and deliver documents on behalf of Lessee hereunder; 

 

	 	(b)	a certified copy of Lessee’s constitutional documents and any modifications thereto; and 

 

	 	(c)	a copy of Lessee’s scheduled operating permit, air operator’s certificate and any other licenses permits or approvals relevant to Lessee’s operation as a
certified air carrier. 

  

	 	(d)	a Certificate of Insurance and Brokers’ Letter of Undertaking reflecting the requirements of Exhibits C and D, respectively, from Lessee’s insurance
brokers evidencing insurance of the Aircraft in accordance with this Lease from the Delivery Date; 

  

	 	(e)	a legal opinion from Lessee’s general counsel (Director Jurídico) in substantially the form of Exhibit K attached hereto on the due execution
by Lessee of the Operative Documents, enforceability against Lessee on the matters stipulated in Article 13.6 and ancillary matters; 

  

	 	(f)	ferry permit for the Aircraft issued by the Aviation Authority; 

  

	 	(g)	evidence that the interests of Lessor as owner of the Aircraft and as lessor under this Lease have been properly filed for registration with the Aviation Authority or
that satisfactory arrangements for the filing of the same have been made; 

  

	 	(h)	 letters addressed to (i) any relevant air traffic control authorities or entities, (ii) any relevant airport operators or administrators, and
(iii) any relevant 

  
 30(138)

	 	
maintenance providers, pursuant to which Lessee authorizes any such authorities or entities to issue to Lessor, upon Lessor’s request (Lessor agrees that it shall only make one (1) such
request per authority or entity in any twelve (12) month period or once per maintenance event with respect to the Engines, unless a Default or Event of Default has occurred) and with copy to Lessee, a statement of account of all sums due by
Lessee to the relevant authority or entity in respect of all aircraft (including, but not limited to, the Aircraft) operated by Lessee; 

  

	 	(i)	a copy of such Aviation Documents or certified copies thereof as may be available prior to the Delivery Date; 

 

	 	(j)	a power of attorney in the form of Exhibit F, which power of attorney shall have been duly executed by Lessee and properly notarized; 

 

	 	(k)	a complete copy of the Maintenance Program for the Aircraft; and 

  

	 	(l)	such other document or perform such other action as Lessor in its reasonable opinion deems necessary. 

 

	6.1.2	No later than one (1) Business Day prior to the Delivery, Lessee will pay the first installment of Rent in accordance with Article 4.2.2.

  

	6.2	Delivery Requirements 

 On
the Delivery Date, each of the following will occur: 
  

	6.2.1	Lessee will pay any unpaid installments of the Security Deposit in accordance with Article 4.1. 

 

	6.2.2	Upon proper tender of the Aircraft for delivery by Lessor, Lessee will execute and deliver to Lessor the Acceptance Certificate. 

 

	6.2.3	Lessee will cause the Aircraft to be registered in the aviation section of the register of aircraft of the State of Registration noting the interests of Lessor as
lessor and owner and Lessee as operator in accordance with applicable Law. 

  

	6.2.4	Lessee will deliver to Lessor a certificate, in form and substance satisfactory to Lessor, signed by an officer of Lessee stating all of the following:

  

	 	(a)	the representations and warranties contained in Article 18.1 are true and accurate in all material respects on and as of the Delivery Date as though made on and as
of such date (except to the extent that such representations and warranties relate solely to an earlier date); and 

  

	 	(b)	no Default or Event of Default has occurred and is continuing or will result from Lessee’s lease of the Aircraft hereunder. 

  
 31(138)

	6.2.5	Lessee will deliver to Lessor copies of such Aviation Documents as have not been previously delivered which are then available. 

 

	6.2.6	Lessor will deliver to Lessee the Warranty Assignments duly executed by Lessor. 

 

	6.3	Post Delivery Requirements 

As soon as available but no later than ten (10) Business Days after the Delivery Date, Lessee will provide Lessor with each of
the following: 
  

	 	(a)	an authenticated copy of the certificate of registration issued by the register of aircraft of the State of Registration evidencing the registration of the Aircraft and
noting, in accordance with applicable Law and the practices of the Registry, the interests of Lessor as lessor and owner and Lessee as operator of the Aircraft; 

 

	 	(b)	an authenticated copy of the certificate of airworthiness for the Aircraft issued by the Aviation Authority; 

 

	 	(c)	evidence confirming that all post Delivery requirements pursuant to this Article 6.3 have been completed as stipulated in Article 13.6;

  

	 	(d)	evidence, in form and substance satisfactory to Lessor, through an original copy of the corresponding importation petition (pedimento) or through the
corresponding approval issued by the Customs Authority of the State of Registration, that all applicable import duties, fees or other Taxes, if any, payable upon the importation and/or customs clearance of the Aircraft into the State of Registration
have been paid in full or that the same has been imported by Lessee under the temporary importation regime to which it is entitled in accordance with Article 106(v)(b) of the Customs Law; and 

 

	 	(e)	copies of any other Aviation Documents not previously delivered and subject to any delay in delivery thereof caused by the Aviation Authority and not resulting from any
act or omission of Lessee. 

  
 32(138)

	7.	DISCLAIMERS 

  

	7.1	As Is, Where Is 

 LESSEE
AGREES THAT AS BETWEEN LESSEE AND LESSOR IN ITS CAPACITY AS OWNER AND LESSOR OF THE AIRCRAFT, IT IS LEASING THE AIRCRAFT “AS IS, WHERE IS,” WITH ALL FAULTS ACCEPTED. LESSEE UNCONDITIONALLY AND IRREVOCABLY ACKNOWLEDGES AND AGREES THAT
NEITHER LESSOR NOR ANY OF ITS OFFICERS, DIRECTORS, MANAGERS, EMPLOYEES OR REPRESENTATIVES HAVE MADE OR WILL BE DEEMED TO HAVE MADE ANY TERM, CONDITION, REPRESENTATION, WARRANTY OR COVENANT EXPRESS OR IMPLIED (WHETHER STATUTORY OR OTHERWISE), AND
LESSEE HEREBY EXPRESSLY, IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY CLAIM IT MAY NOW OR HEREAFTER HAVE AGAINST LESSOR AND OR ANY LESSOR’S LENDER, IN RESPECT OF OR RELATING TO (a) THE CAPACITY, AGE, AIRWORTHINESS, VALUE, QUALITY,
DURABILITY, CONFORMITY TO THE PROVISIONS OF THIS LEASE, DESCRIPTION, CONDITION (WHETHER OF THE AIRCRAFT, ANY ENGINE, ANY PART THEREOF OR THE AIRCRAFT DOCUMENTATION), DESIGN, WORKMANSHIP, MATERIALS, MANUFACTURE, CONSTRUCTION, OPERATION, DESCRIPTION,
STATE, MERCHANTABILITY, PERFORMANCE, FITNESS FOR ANY PARTICULAR USE OR PURPOSE (INCLUDING THE ABILITY TO OPERATE OR REGISTER THE AIRCRAFT OR USE THE AIRCRAFT DOCUMENTATION IN ANY OR ALL JURISDICTIONS) OR SUITABILITY OF THE AIRCRAFT OR ANY PART
THEREOF, OR THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE, KNOWN OR UNKNOWN, APPARENT OR CONCEALED, EXTERIOR OR INTERIOR, (b) THE ABSENCE OF ANY INFRINGEMENT OF ANY PATENT, TRADEMARK, COPYRIGHT OR OTHER INTELLECTUAL
PROPERTY RIGHTS, (c) ANY IMPLIED WARRANTY ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE OR (d) ANY OTHER REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO THE AIRCRAFT OR ANY PART THEREOF, ALL OF
WHICH ARE HEREBY EXPRESSLY EXCLUDED AND EXTINGUISHED. 
  

	7.2	Waiver of Warranty of Description 

 IN CONSIDERATION OF, INTER ALIA, LESSOR’S ASSIGNMENT TO LESSEE OF ANY EXISTING AND ASSIGNABLE WARRANTIES OF MANUFACTURER AND THE ENGINE MANUFACTURER, LESSEE HEREBY AGREES THAT ITS ACCEPTANCE OF THE
AIRCRAFT AT DELIVERY AND ITS EXECUTION AND DELIVERY OF THE ACCEPTANCE CERTIFICATE CONSTITUTE LESSEE’S WAIVER OF THE WARRANTY OF DESCRIPTION, 

  
 33(138)

 
ANY CLAIMS LESSEE MAY HAVE AGAINST LESSOR BASED UPON THE FAILURE OF THE AIRCRAFT TO CONFORM WITH SUCH DESCRIPTION AND ANY AND ALL RIGHTS IT MAY HAVE TO THE REMEDIES SET FORTH IN ANY APPLICABLE
LAW RELATING TO SUCH WARRANTY OF DESCRIPTION. 
  

	7.3	Lessee Waiver 

 Lessee
hereby waives as between itself and Lessor and agrees not to seek to establish or enforce any rights and remedies, express or implied (whether statutory or otherwise), against Lessor or the Aircraft relating to any of the matters mentioned in
Articles 7.1 or 7.2. In consideration of the foregoing and to the fullest extent applicable, Lessee hereby waives any rights in accordance with the provisions of Articles 2412(V) and 2421 and other applicable of the Federal Civil Code.

  

	7.4	Conclusive Proof 

 AS
BETWEEN LESSEE AND LESSOR IN ITS CAPACITY AS OWNER AND LESSOR OF THE AIRCRAFT, DELIVERY BY LESSEE TO LESSOR OF THE ACCEPTANCE CERTIFICATE WILL BE CONCLUSIVE PROOF THAT LESSEE’S TECHNICAL EXPERTS HAVE EXAMINED AND INVESTIGATED THE AIRCRAFT AND
ENGINES AND (a) EACH IS AIRWORTHY AND IN GOOD WORKING ORDER AND REPAIR AND (b) THE AIRCRAFT AND ENGINES AND THE AIRCRAFT DOCUMENTATION ARE WITHOUT DEFECT (WHETHER OR NOT DISCOVERABLE AT DELIVERY) AND IN EVERY WAY SATISFACTORY TO LESSEE.

  

	7.5	No Lessor Liability for Losses 

 Lessee agrees that Lessor will not be liable to Lessee, any sublessee or any Person, whether in contract or tort and however arising, for any cost, loss or damage (consequential or otherwise) arising out
of the condition of the Aircraft, during the Lease Term whether or not due in whole or in part to the negligence (but not the wilful misconduct) of Lessor. 
  

	7.6	No Liability to Repair or Replace 

 Lessor will not be liable for any expense in repairing or replacing any item of the Aircraft or be liable to supply another aircraft or any item in lieu of the Aircraft or any Part thereof if the same is
lost, confiscated, damaged, destroyed or otherwise rendered unfit for use. In consideration of the foregoing and to the fullest extent applicable, Lessee hereby waives any rights in accordance with the provisions of Articles 2412(II), 2416,
2417 and 2445 and other applicable of the Federal Civil Code. 

  
 34(138)

	7.7	No Waiver 

 Nothing in
this Article 7 will be deemed to be a waiver by Lessee of any rights it may have against Manufacturer, the Engine manufacturer or any other Person other than Lessor or Lessor’s Lender, if any. 

  
 35(138)

	8.	MANUFACTURERS’ AND VENDORS’ WARRANTIES 

  

	8.1	Warranties 

 With effect
from the Delivery Date Lessor assigns to Lessee for the duration of the Lease Term and provided no Event of Default exists at any relevant time, the benefit of all assignable warranties by Manufacturer and the Engine manufacturer in relation to the
Aircraft given to Lessor pursuant to the Warranties Assignments. 
  

	8.2	Reassignment 

 On the
Termination Date, the benefit of any warranty assigned by Lessor to Lessee pursuant to Article 8.1 will be reassigned automatically to Lessor or its designee (such reassignment shall be without prejudice to Lessee’s rights in respect of
any claims made by Lessee during the Lease Term and which are pending on the Termination Date). Lessee’s rights under such warranties (including Lessee’s claims and rights to payment thereunder) will revert to Lessor during any period in
which an Event of Default is continuing. Similarly, any additional warranties received by Lessee from Manufacturer, Engine manufacturer and any other vendor or repair facility for work performed on the Aircraft, Engine or any Part during the Lease
Term will, to the extent such warranties are assignable, be automatically assigned by Lessee to Lessor or its designee on the Termination Date (such assignment shall be without prejudice to Lessee’s rights in respect of any claims made by
Lessee during the Lease Term and which are pending on the Termination Date). Lessee at its own cost and expense will do all such things and execute such documents as may be reasonably required for these purposes. 

 

	8.3	Warranty Claims 

 Lessee
will diligently and promptly pursue any valid claims it may have against Manufacturer and others under such warranties with respect to the Aircraft and at Lessor’s request from time to time keep Lessor informed of any such actions. Lessee shall
at all times inform Lessor of any such actions without requiring prior request from Lessor when any such claims are for amounts exceeding *****. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 36(138) 

	9.	OPERATION OF AIRCRAFT 

  

	9.1	Costs of Operation 

Lessee will pay all costs incurred in the operation of the Aircraft during the Lease Term and until the Termination Date, for profit or
otherwise, including the costs of flight crews, cabin personnel, fuel, oil, lubricants, maintenance, insurance, storage, landing and navigation fees, airport charges, passenger service and any and all other expenses of any kind or nature, directly
or indirectly, in connection with or related to the use, movement and operation of the Aircraft. The obligations, covenants and liabilities of Lessee under this paragraph arising prior to return of the Aircraft to Lessor will continue in full force
and effect, notwithstanding the termination of this Lease or expiration of the Lease Term. 
  

	9.2	Compliance with Laws and Insurance 

 Lessee agrees throughout the Lease Term and until the Termination Date to maintain operational control of the Aircraft, subject to any approved sublease, and use the Aircraft in accordance with applicable
Laws of the State of Registration and of any country, state, territory or municipality into or over which Lessee may operate. Lessee will not employ, suffer or cause the Aircraft to be used in any business which is forbidden by Law or in any manner
which may render it liable to condemnation, destruction, seizure, or confiscation by any authority. Lessee will not permit the Aircraft to fly to any airport or country which is located in or is a Prohibited Country or which would cause Lessee,
Lessor or Lessor’s Lender to be in violation of any Law applicable to either of them or the Aircraft. Further, Lessee will not permit the Aircraft to fly in or to any area of the world excluded from insurance coverage, other than as a result of
any mechanical, climatic or other events beyond Lessee’s control and as a result of which renders the same necessary in order to preserve and protect the Aircraft, passengers or crew members, provided that Lessee removes the Aircraft from such
jurisdiction immediately after such circumstances shall have ceased to exist. 
  

	9.3	Training 

 Lessee will not
use the Aircraft for testing or for training of flight crew members other than crew members of Lessee and will not use the Aircraft for training any more than it utilizes for training the other aircraft in its fleet. 

 

	9.4	No Violation of Insurance Policies 

 Lessee will not use or permit the Aircraft to be used in any manner or for any purpose which is not covered by the insurance policies Lessee is required to carry and maintain as set forth in this Lease.
Lessee will not carry any goods 

  
 37(138)

 
of any description, the carriage of which is prohibited by or would invalidate or otherwise limit coverage by such policies or do any other act or permit to be done anything which could be
reasonably expected to invalidate or limít any such insurance which Lessee is required to carry and maintain as set forth in this Lease. 
  

	9.5	Flight and Airport Charges 

  

	9.5.1	Lessee will pay promptly when due all Airport Charges and Air Navigation Charges and any and all charges payable by Lessee for the use of or for services provided at
any airport, in respect of the Aircraft or to the extent any failure to pay the same in respect of any other aircraft operated by Lessee would reasonably be expected to give rise to a result in a Security Interest over the Aircraft, in respect of
any other aircraft of Lessee, and will indemnify and hold Lessor and other Indemnitees harmless in respect of the same. This indemnity will continue in full force and effect notwithstanding the termination or expiration of the Lease Term for any
reason or the return of the Aircraft. 

  

	9.5.2	If requested by Lessor, Lessee will promptly provide Lessor with a list of the airports to which Lessee regularly operates the Aircraft or its other aircraft, and
evidence, in form and substance reasonably satisfactory to Lessor, to confirm the status of Lessee’s payments to any airport, other aviation authority or airport or creditor claiming rights on the Aircraft for the Aircraft and its other
aircraft. 

  
 38(138)

	10.	SUBLEASES 

  

	10.1	No Sublease without Lessor Consent 

 LESSEE WILL NOT SUBLEASE OR PART WITH POSSESSION OF THE AIRCRAFT (EXCEPT AS OTHERWISE PROVIDED IN THIS ARTICLE 10 OR FOR MAINTENANCE, MODIFICATION, TESTING AND REPAIR IN ACCORDANCE WITH APPLICABLE
PROVISIONS HEREOF) AT ANY TIME WITHOUT THE PRIOR WRITTEN CONSENT OF LESSOR (SUCH CONSENT NOT TO BE UNREASONABLY WITHHELD OR DELAYED). 
  

	10.2	Lessor Costs 

 Lessee will
indemnify Lessor on demand for all reasonable costs and expenses (including reasonable legal fees) incurred in connection with Lessor’s assessment of any subleasing proposal (whether or not Lessor’s consent to such sublease is ultimately
given provided that such consent is not unreasonably withheld) and implementation of the sublease. 
  

	10.3	Prohibited Countries 

 No
sublease will be permitted to any sublessee headquartered in, or having a principal place of operations in a Prohibited Country. 
  

	10.4	Approved Subleases 

Notwithstanding anything herein to the contrary, and subject to receipt by Lessor of prior written notice from Lessee, Lessee may sublease
the Aircraft to TACA International Airlines, S.A. (“TACA”) under a sublease agreement, provided that such agreement meets the requirement of this Article 10 and provided further that no less than the current equity
participation of TACA in Lessee subsists. Such sublease to TACA may allow TACA to sub-sublease the Aircraft to one or more of the following affiliates: TACA Costa Rica, S.A., Trans American Airlines, S.A. d.b.a. TACA Perú, Lineas Aereas
Costarricenses, S.A. and/or AVIATECA, S.A. (each a “Multiparty Sublessee”) under a sublease or multiparty sublease agreement (“Multiparty Sublease”), provided that such agreement meets the requirements of this
Article 10, and provided further that at all times during the term of such agreement, each of the relevant Multiparty Sublessees shall be affiliated with and remain under the operational control of TACA. 

No sublease (including any sublease to TACA and any Multiparty Sublease) may allow for the pre-payment of rent payable under any sublease
or Multiparty Sublease to Lessee as sublessor thereunder, unless such rent has been assigned to Lessor or Lessor’s Lender as security in conformity of Article 10.5. 

  
 39(138)

 Any sublease approved by Lessor (including any sublease to TACA and any Multiparty Sublease)
will be for a term no greater than the remaining Lease Term. The applicable sublease agreement (including any sublease to TACA and any Multiparty Sublease) will be consistent with this Lease and shall contain provisions consistent with this Lease
protecting Lessor’s title to the Aircraft, the Security Interest of any Lessor’s Lender and Lessor’s interest in this Lease, providing appropriate Lessor and Lessor’s Lender disclaimers and indemnities, regarding the maintenance
and repair standards for the Aircraft and concerning the insurances which will be carried by or for the benefit of the sublessee or Multiparty Sublessee and the circumstances which constitute a Total Loss of the Aircraft. Any such sublease or
Multiparty Sublease will be subject and subordinate to this Lease and to its effectiveness and should be terminated upon termination of this Lease for any reason whatsoever. For the avoidance of doubt, the parties agree that the subrogation
described in Article 2482 of the Federal Civil Code shall not be applicable. 
 Lessor will have an opportunity to review
any proposed sublease agreement (including any Multiparty Sublease) reasonably in advance in order to determine that it meets the requirements of this Article 10 and this Lease. Lessor shall be entitled to receive a copy thereof and to receive
evidence of filing of the same at the Aviation Authority and at any other aviation authority or other authority or registry as required under applicable Law. Lessor may require an opinion of counsel in connection with any sublease or Multiparty
Sublease, including an opinion concerning Lessor’s right to repossess the Aircraft and enforce any judgment obtained against any sublessee or any Multiparty Sublessee in the event of an Event of Default hereunder or under the sublease or
Multiparty Sublease and to be subrogated to the rights of Lessee acting as sublessor thereunder if an Event of Default by Lessee shall occur and be continuing. Lessee will not amend the terms of any approved sublease agreement or Multiparty Sublease
without the prior written consent of Lessor, such consent not to be unreasonably withheld. 
  

	10.5	Assignment of Sublease 

Any approved sublease or Multiparty Sublease and any advanced payments received thereunder, will be assigned to Lessor or Lessor’s
Lender (as directed by Lessor) as security. Lessee will deliver a copy of the sublease or Multiparty Sublease to Lessor and make any filings necessary to protect Lessor’s or Lessor’s Lender’s Security Interest and provide evidence of
such filings to Lessor. 

  
 40(138)

	10.6	Wet Leases 

 The wet
leasing or charter of the Aircraft during the Lease Term (in which Lessee and its crews retain operational control of the Aircraft) will not be considered a sublease of the Aircraft and will be permitted without Lessor’s consent, provided that
(a) the Aircraft remains registered in the State of Registration, (b) the Aircraft will neither be based in nor operated in or to a Prohibited Country, and (c) Lessee complies with Articles 9.2 and 16.9 hereunder. 

 

	10.7	Continued Responsibility of Lessee 

 Lessee will continue to be responsible for performance of its obligations under this Lease during any period of sublease or wet lease. 

  
 41(138)

	11.	MAINTENANCE OF AIRCRAFT 

  

	11.1	General Obligation 

During the Lease Term and until the Termination Date, Lessee alone has the obligation, at its expense, to maintain and repair the
Aircraft, Engines, APU and all of the Parts (a) in accordance with the Maintenance Program, (b) in accordance with FAA FAR Part 129 (c) in accordance with the rules and regulations of the Aviation Authority, (d) in
accordance with Manufacturer’s manuals, (e) in accordance with any other regulations or requirements necessary in order to maintain a valid Certificate of Airworthiness for the Aircraft at all times during the Lease Term and upon return of
the Aircraft to Lessor for issuance of a Certificate of Airworthiness for transport category aircraft issued by the Aviation Authority and the FAA in accordance with FAA Part 21 (except during those periods when the Aircraft is undergoing
maintenance, modification or repairs as required or permitted by this Lease and to the extent in conflict with the requirements of the Aviation Authority when the requirements of the Aviation Authority shall prevail solely when such shall be more
strict or shall require the compliance of any requirements that shall not be already required by the FAA in accordance with FAR Part 129 and (f) in the same manner and with the same care as used by Lessee with respect to similar aircraft
and engines operated by Lessee. 
  

	11.2	Specific Engine Requirements 

  

	11.2.1	No Engine will remain in an unserviceable condition for more than ninety (90) days. Notwithstanding the foregoing, such period may be extended to one hundred
eighty (180) days, provided that (i) Lessee has caused the relevant Engine to be inducted into an FAA approved maintenance repair organization in a timely manner, (ii) such delay in return to serviceability is due to factors beyond
Lessee’s control, (iii) the relevant Engine is not in an unserviceable condition on the Expiration Date, and (iv) Lessee uses diligent efforts to return the Engine to a serviceable condition as soon as possible, provided that Lessee
has provided evidence of (i), (ii), to the extent applicable (iii), and (iv), all to Lessor’s reasonable satisfaction. 

  

	11.2.2	When replacing Parts in an Engine, Lessee will utilize only original equipment manufacturer parts (OEM parts). The foregoing will not apply to QEC and thrust
reverser Parts. No FAA Designated Engineering Representative (DER) repairs will be allowed on the Engines, except with Lessor’s prior written approval, which shall not be unreasonably withheld. 

 

	11.2.3	Lessee will not discriminate against the Engines with respect to Overhaul build standards and LLP replacements as compared with other engines of the same make and model
of the Engines operated by Lessee. 

  
 42(138)

	11.2.4	With respect to any Engine shop visit of an Engine, Lessee will submit to Lessor at least thirty (30) days in advance the intended work scope of such shop visit
for approval unless the shop visit is unscheduled, in which case the work scope will be submitted immediately when it becomes available to Lessee. 

  

	11.2.5	Lessee will not enter into any engine maintenance cost per flight hour, power-by-the-hour or similar agreement with the Engine manufacturer or any other Engine
maintenance facility or organization without Lessor’s prior written consent. Lessee will at its cost be responsible for performing all work necessary to meet the return conditions with respect to the Engines set forth in Article 21 even if
such work is not covered by Lessee’s engine maintenance agreement. Without limiting the foregoing, any such Engine maintenance agreement will provide that: 

 

	 	(a)	Lessor will receive and retain the monthly Engine Performance Restoration Maintenance Funds paid by Lessee until an Engine Performance Restoration Shop Visit has been
completed; 

  

	 	(b)	Lessee will pay the Engine maintenance facility directly for any Engine Overhaul and repair costs (but not for any additional work requested by Lessor); and

  

	 	(c)	Lessee will pay the Engine maintenance facility directly for any services provided by the Engine maintenance facility over and above repair of the Engines, such as
trend monitoring, spare engines or spare parts. 

 Notwithstanding the foregoing, the parties recognize that the
Engines will be subject to the fleet hour agreement between Lessee and the Engine manufacturer in effect on the Delivery Date. 
  

	11.3	Specific Obligations 

Without limiting Article 11.1, Lessee agrees that such maintenance and repairs will include but will not be limited to each of the
following specific items: 
  

	 	(a)	performance in accordance with the Maintenance Program of all routine and non-routine maintenance work; 

 

	 	(b)	incorporation in the Aircraft of all Airworthiness Directives, all alert service bulletins of Manufacturer, the Engine manufacturer and other vendors or manufacturers
of Parts incorporated on the Aircraft. It is the intent of the parties that the Aircraft will not be discriminated from the rest of Lessee’s fleet in service bulletin compliance (including method of compliance) or other maintenance matters;

  
 43(138)

	 	(c)	incorporation in the Maintenance Program for the Aircraft of a corrosion prevention and control program as recommended by Manufacturer and the correction of any
discrepancies in accordance with the recommendations of Manufacturer and its structural repair manual. In addition, all inspected areas will be properly treated with corrosion inhibitor in accordance with Manufacturer’s guidelines;

  

	 	(d)	maintaining all maintenance documents, including flight logs, in English and in such a manner as required by the FAA and the Aviation Authority;

  

	 	(e)	maintaining all historical records for on-condition, condition monitored, hard time and LLPs (including FAA Form 8130-3s) in English and in such manner as required
by the FAA and the Aviation Authority; and 

  

	 	(f)	properly documenting in such a manner as required by the Aviation Authority all repairs, Modifications and alterations and the addition, removal or replacement of
equipment, systems or components in accordance with the rules and regulations of the Aviation Authority and reflecting such items in the Aircraft Documentation and current status listings, also to include updating Manufacturer’s manuals. In
addition, all repairs to the Aircraft will be accomplished in accordance with Manufacturer’s structural repair manual (or FAA approved data supported by an Airbus Repair Approval Sheet (RAS) or equivalent). All Modifications and alterations
will also be accomplished in accordance with FAA approved data supported by a Design Organisation Approval or equivalent. 

  

	11.4	Replacement of Parts 

  

	11.4.1	Lessee, at its own cost and expense, will promptly replace all Parts which may from time to time become worn out, lost, stolen, destroyed, seized, confiscated, damaged
beyond repair or rendered unfit or beyond economical repair for use for any reason. In the ordinary course of maintenance, service, repair, overhaul or testing, Lessee may remove any Part provided that Lessee replaces such Part as promptly as
practicable. All replacement Parts will (a) be owned by Lessee free and clear of all Security Interests (except Permitted Liens) (or, if not owned by Lessee, Lessee guarantees to Lessor such title and clearance of all Security Interests),
(b) be in airworthy condition and of at least equivalent model, service bulletin and modification status and have a value and utility at least equal to the Parts replaced, assuming such replaced Parts were in the condition and repair required
to be maintained by the terms hereof and (c) have a current “serviceable tag” (FAA 8130-3 or equivalent) of the manufacturer or maintenance facility providing such items to Lessee, indicating that such Parts are new, serviceable or
Overhauled. 

  
 44(138)

	11.4.2	All Parts removed from the Airframe, any Engine or the APU will remain the property of Lessor and subject to this Lease no matter where located, until such time as such
Parts have been replaced by Parts (which have been incorporated or installed in or attached to the Airframe, such Engine or the APU) which meet the requirements for replacement Parts specified above and title to such replacement Parts has
passed to Lessor under the Laws of the State of Registration and the lex situs. To the extent permitted by the Laws of the State of Registration and the lex situs it is the intent of Lessor and Lessee that without further act and immediately upon
any replacement Part becoming incorporated, installed or attached to the Airframe, an Engine or the APU as above provided, (a) title to the removed Part will thereupon vest in Lessee, free and clear of all rights of Lessor and Lessor’s
Liens, (b) title to the replacement Part will thereupon vest in Lessor free and clear of all rights of Lessee and (c) such replacement Part will become subject to this Lease and be deemed to be a Part hereunder to the same extent as the
Parts originally incorporated or installed in or attached to the Airframe, such Engine or the APU. 

  

	11.5	Removal of Engines 

  

	11.5.1	If an Engine is removed for testing, service, repair, maintenance, Overhaul work, alterations or Modifications, title to such Engine will at all times remain vested in
Lessor. 

  

	11.5.2	Lessee will be entitled to remove any of the Engines from the Aircraft and install another engine or engines on the Aircraft, provided that Lessee complies with each of
the following obligations: 

  

	 	(a)	the insurance requirements set forth in Article 16 and Exhibit C are in place; 

 

	 	(b)	Lessee ensures that the identification plates referred to in Article 13.7 are not removed from any Engine upon such Engine being detached from the Aircraft; and

  

	 	(c)	title to the Engine remains with Lessor free from all Security Interests (except Permitted Liens) regardless of the location of the Engine or its attachment to or
detachment from the Aircraft. 

  

	11.6	Installation of Engines on Other Aircraft 

 Any Engine removed from the Aircraft may be installed on another aircraft in Lessee’s fleet which utilizes engines of the same type as the Engine provided that one of the situations described in this
Article 11.6 exists: 
  

	11.6.1	Lessee or Lessor has title to such other aircraft free and clear of all Security Interests (except Permitted Liens). 

  
 45(138)

	11.6.2	All of the Creditors of Lessee of such aircraft enter into an engines cooperation, recognítion of rights or similar agreement with Lessor, in form and substance
acceptable to Lessor, acting reasonably to recognize one another’s rights in the engines. Lessee will reimburse Lessor for its costs and expenses (including reasonable legal fees) in negotiating and finalizing any such agreement with Lessee and
its Creditors. 

  

	11.6.3	Such other aircraft is subject to a Creditor Agreement (but no other Security Interests except Permitted Liens) which by its terms expressly or effectively states that
such Creditor will not acquire any right, title or interest in any Engine by reason of such Engine being installed on such aircraft (such agreement may be subject to reciprocal agreements by Lessor). Lessee hereby agrees that if Lessor’s title
to an Engine is in fact divested under any such Creditor Agreement, such will be a Total Loss of such Engine and the provisions of Article 17.5 will apply. To the extent another Creditor Agreement contains such provisions, then Lessor hereby
agrees for the benefit of the Creditor of such Creditor Agreement that neither Lessor nor its successors or assigns nor any person lawfully claiming by or through Lessor will acquire or claim any right, title or interest in any engine in which
Lessee or another Creditor has an interest as a result of such engine being installed on the Airframe nor any right, title or interest in any aircraft on which an Engine may be installed. 

 

	11.7	Removal of APU 

  

	11.7.1	If the APU is removed for testing, service, repair, maintenance, Overhaul work, alterations or Modifications, title to the APU will at all times remain vested in
Lessor. 

  

	11.7.2	Lessee will be entitled to remove the APU from the Aircraft and install another auxiliary power unit on the Aircraft, provided that Lessee complies with each of the
following obligations: 

  

	 	(a)	the insurance requirements set forth in Article 16 and Exhibit C are in place; 

 

	 	(b)	Lessee ensures that the identification plates referred to in Article 13.7 are not removed from the APU; and 

 

	 	(c)	title to the APU remains with Lessor free from all Security Interests (except Permitted Liens) regardless of the location of the APU or its attachment to or detachment
from the Aircraft. 

  

	11.8	Modifications 

  

	11.8.1	No modification, alteration, addition or removal to the Aircraft (“Modification”) expected to cost over ***** 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 46(138) 

 
*****, or material deviation from the Aircraft’s original type design or configuration will be made without the prior written consent of Lessor, which consent shall not be unreasonably
withheld. “Modifications” do not include Airworthiness Directives or Manufacturer’s service bulletins or other mandatory orders required under this Lease, for compliance of which Lessor’s consent is not required. 

 

	11.8.2	Lessor may review Lessee’s proposed designs, plans, engineering drawings and diagrams, and flight and maintenance manual revisions for any proposed Modification.
If requested by Lessor, Lessee will furnish Lessor (at Lessee’s expense) with such documents in final form and any other documents required by Law, as a result of such Modification. All Modifications incorporated on the Aircraft will be
properly documented in English in the Aircraft Documentation, to include being incorporated within the applicable maintenance and operations manuals, and will be approved by the FAA and the Aviation Authority on the Termination Date.

  

	11.8.3	Notwithstanding any other provision of this Lease, no Modification will be made which has the effect of decreasing the utility or value of the Aircraft or invalidating
any warranty applicable to the Aircraft. 

  

	11.8.4	No Modification will be made by Lessee if an Event of Default exists and is continuing hereunder. 

 

	11.8.5	Unless otherwise agreed by Lessor in writing, all permanent or structural Modifications will forthwith become a part of the Aircraft and Lessee relinquishes to Lessor
all rights and title thereto. However, all temporary and non-structural Modifications will remain the property of Lessee and, at Lessor’s request (or in the event that Lessee elects to keep such Modifications) will at Lessee’s cost, be
removed from the Aircraft prior to return of the Aircraft, with Lessee restoring the Aircraft to the condition it was in prior to the Modification in a manner cosmetically acceptable to Lessor acting reasonably. Notwithstanding the foregoing, no
such removal will be permitted without Lessor’s permission during the continuance of an Event of Default hereunder and immediately upon the occurrence of an Event of Default hereunder, without the requirement of any further act or notice, all
right, title and interest in such Modifications will immediately vest in Lessor without prejudice or detriment of any outstanding obligations of Lessee, in the understanding that the vesting of rights, title and interest in such Modifications by
Lessor shall in no form be considered to be in payment of any outstanding obligations of Lessee nor in any form construed or interpreted as a conventional penalty or as a remedy for an Event of Default of Lessee. Notwithstanding the foregoing, in
absence of an Event of Default at the end of the Lease Term, title to any such temporary and non-structural Modifications will vest or, if applicable, revest in Lessee. 

 

	11.8.6	Lessor will bear no liability for the cost of Modifications of the Aircraft whether in the event of grounding or suspensions of certification, or for any other cause.

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 47(138) 

	11.9	Performance of Work by Third Parties 

 Whenever maintenance and repair work on the Aircraft or Engines will be regularly performed by a Person other than Lessee, such Person will be an FAA authorized repair station. In addition, Lessee shall
obtain Lessor’s consent to the maintenance facility that will perform “C” check maintenance on the Aircraft (such consent not to be unreasonably withheld, however, such consent is contingent upon such Person being approved by the
Aviation Authority). For the purposes hereof, and provided that Aeromantenimiento S.A. shall remain an FAA or EASA certified maintenance facility, Lessor shall be deemed to have approved the performance of any maintenance, repairs, testing,
inspections and modifications in relation to the Aircraft by such facility. 
  

	11.10	Reporting Requirements 

  

	11.10.1	Commencing with a report furnished fifteen (15) days after the end of the calendar month of the Delivery Date, Lessee will furnish to Lessor a Monthly Report in
English in the form attached hereto as Exhibit H. Each Monthly Report will be furnished within fifteen (15) days after the end of each calendar month during the Lease Term, except that the Monthly Report pertaining to the last month(s)
(or any portion thereof) of flying will be furnished to Lessor on the Termination Date. 

  

	11.10.2	Upon Lessor’s request, however not more frequently than two (2) times in any period of twelve (12) months, Lessee will provide to Lessor a Technical
Evaluation Report in English for the Aircraft in the form and substance of Exhibit I, as revised. 

  

	11.10.3	Lessee will provide Lessor with an electronic copy of all heavy maintenance or modification work, including all applicable approval certification, that has occurred on
the Aircraft as soon as practicable after the event, but no later than three (3) months after such work has been accomplished. 

  

	11.10.4	From time to time, Lessee will provide Lessor with such other technical information or documents as Lessor may reasonably request. 

 

	11.11	Lessor Rights to Inspect Aircraft 

 On reasonable notice, but not more frequently than once annually unless (i) a Default or an Event of Default has occurred and is continuing or Lessor is inspecting in order to verify cure or
correction of any such Default or Event of Default, (ii) Lessor has reason to believe that a Default or an Event of Default may have occurred, (iii) during the last twelve (12) months of the Lease Term, Lessor is actively marketing
the Aircraft for sale or reletting following the Expiration Date and has notified Lessee of the same in writing (in which case all inspections other than a follow up inspection for purposes of confirming cure of a Default with respect to such
remarketing efforts shall be a Lessor’s 

  
 48(138)

 
cost notwithstanding anything to the contrary), Lessor and/or its authorized agents or representatives will have the right to inspect the Aircraft and Aircraft Documentation, which inspection
shall be performed at Lessor’s cost unless a Default or Event of Default has occurred and is continuing or is discovered during such inspection, in which event Lessee shall pay or reimburse Lessor for such costs duly evidenced and supported
promptly following demand. Lessor agrees that such requests will be coordinated with Lessee so as to cause as little practical disturbance to Lessee’s operation, use of the Aircraft and its personnel as practically possible having due regard to
Lessor’s legitimate interest as Lessor to inspect the Aircraft. Lessee agrees to cooperate with Lessor reasonably in making the Aircraft and Aircraft Documentation available to such inspections. Lessor will have no duty to make any such
inspection and will not incur any liability or obligation by reason of (and Lessee’s obligation to maintain the Aircraft at all times in the condition required by this Lease and Lessee’s indemnity obligations pursuant to Article 15
will apply notwithstanding) not making any such inspection or by reason of any reports it receives or any reviews it may make of the Aircraft records. Lessee shall comply with the reasonable requests of Lessor’s representatives during the
course of an inspection including any request to open quick release panels or if Lessor has reason to believe that a discrepancy exists in relation to Lessee’s maintenance obligations or the condition of the Aircraft required hereunder, open
any other panels or exposing any bays, and, if required, to travel on the flight deck of the Aircraft as an observer, subject to any applicable Regulations or insurance restrictions. 

 

	11.12	Airworthiness Directives Cost Sharing 

 Subject to the provisions of Article 0 (mutatis mutandis), in the event that an Airworthiness Directive is issued after the Delivery Date which Airworthiness Directive requires a modification
to the Aircraft which must be performed or terminated prior to the Expiration Date or within One Hundred Eighty (180) days thereafter and the cost of which is in excess of *****, Lessor shall reimburse Lessee for the portion of such cost over
***** in accordance with the following formula: 
 ***** 
 Where: 
 ***** 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 49(138) 

 ***** 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 50(138) 

	12.	USE OF MAINTENANCE FUNDS 

  

	12.1	Airframe Structural Maintenance Fund 

  

	12.1.1	Lessor will contribute the full amount of the Airframe Structural Maintenance Fund pertaining to the 6Y checks upon completion or performance of a 6Y check as described
in the Maintenance Program and the rectification of any structural deficiencies resulting from such inspection. The amount to be paid by Lessor to Lessee hereunder will correspond to the full amount paid in to the Airframe Structural Maintenance
Fund (6Y Check) as of the completion date of such “6Y” Check. 

  

	12.1.2	Lessor will contribute the full amount of the Airframe Structural Maintenance Fund pertaining to both the “6Y” check and the “12Y” check upon
completion or performance of a 12Y check, provided all such checks are completed during the same maintenance visit, as described in the Maintenance Program and the rectification of any structural deficiencies resulting from such inspection. The
amount to be paid by Lessor to Lessee hereunder will correspond to the full amount paid in to the Airframe Structural Maintenance Fund (6Y Check and 12Y Check) as of the completion date of such “12Y” structural check.

  

	12.2	Engine Performance Restoration Maintenance Fund 

 Lessor will contribute from the Engine Performance Restoration Maintenance Fund applicable to an Engine at the completion of the Engine Performance Restoration Shop Visit. The amount available for
contribution hereunder will correspond to: 
  

	 	(a)	for the first Engine Performance Restoration Shop Visit for such Engine since new, ***** multiplied by the total number of Flight Hours consumed on such Engine at the
time of removal, provided that such amount has been paid by Lessee to the applicable Engine Performance Restoration Maintenance Fund as of the completion date of such Engine Performance Restoration Shop Visit; 

 

	 	(b)	for any subsequent Engine Performance Restoration Shop Visits for such Engine, the full amount paid in to the applicable Engine Performance Restoration Maintenance Fund
as of the completion date of such Engine Performance Restoration Shop Visit less any amount contributed pursuant to sub-section (a) above. 

  
 51(138)

	12.3	Engine LLP Maintenance Fund 

 Lessor will contribute from the Engine LLP Maintenance Fund applicable to an Engine for the actual out-of-pocket materials cost without overhead, Lessee mark-up or profit associated with the replacement
of LLPs in such Engine during completed Engine Performance Restoration Shop Visits reduced by the amount of any Waste Expense, with work performed for all other causes excluded. “Waste Expense” means in respect of any LLP removed
and having a stub life in excess of ten percent (10%) of the full life of such LLP) the product of (a) the number of unused cycles on a life-limited Part at the time such life-limited Part is removed for replacement multiplied by
(b) the quotient of (i) the cost of the new replacement life-limited Part divided by (ii) the number of cycles which constitutes the approved life of such life-limited Part. Subject to Article 12.7 and excluding exchange fees and
handling, packaging and shipping charges, the amount available for contribution hereunder will be up to the amount in the Engine LLP Maintenance Fund applicable to such Engine at the time of completion of such Engine Performance Restoration Visit.

  

	12.4	APU Maintenance Fund 

Lessor will contribute the full amount of the APU Maintenance Fund for a Heavy Repair of the APU. The amount to be paid by Lessor to
Lessee hereunder will correspond to the amount paid in to the APU Maintenance Fund as of the date of completion of the Heavy Repair of the APU. 
  

	12.5	Landing Gear Maintenance Fund 

 Lessor will contribute the full amount of the Landing Gear Maintenance Fund for an Overhaul of the Landing Gear. The amount to be paid by Lessor to Lessee hereunder will correspond to the amount paid in
to the Landing Gear Maintenance Fund as of the date of completion of the Landing Gear Overhaul. 
  

	12.6	Contribution 

 Subject to
Article 26.4, Lessee will be entitled to claim the contribution of Lessor from the Maintenance Funds after the relevant work is completed and the Airframe, Engine, APU or Landing Gear has left the repair agency, by submitting evidence of
completion of the corresponding workscope and proper documentation within ninety (90) days after completion of the work. For the Airframe, proper documentation includes without limitation a list of all routine and non-routine work cards with
corresponding references to the MPD and an itemized invoice showing all labor and materials report. For both the Engines and APU, proper documentation includes without limitation a detailed description of the reason for removal, a shop teardown
report, a shop findings report, a full description of the work scope, a completed LLP status listing both 

  
 52(138)

 
prior to and after the shop visit, information whether or not credits were provided due to life remaining on any removed LLPs and the amount of any such credits. For the Landing Gear, proper
documentation includes without limitation evidence detailing the labor and material, total calendar time, hours and cycles on the Landing Gear both prior to and after the Overhaul. Additional documentation required for the Engine, APU and Landing
Gear will include all back-to-birth documentation for any LLPs changed during such Overhaul. 
  

	12.7	Contribution Adjustment 

Contribution from the Maintenance Funds will not be available for, items resulting from repairs for which Lessee has received proceeds of
insurance or payments under any applicable warranties or required as a result of an Airworthiness Directive, manufacturer’s service bulletin, non-routine or unscheduled maintenance, faulty maintenance or installation, improper operations,
misuse, neglect, accident, incident, ingestion, foreign object damage or other accidental cause (except to the extent the same results in the full restoration per the agreed criteria for reimbursement listed in each of the above-referenced items
under this Article 12), external Engine Parts including quick engine change (QEC) Parts, thrust reversers or any of their associated components. 
  

	12.8	Costs in Excess of Maintenance Funds 

 Lessee will be responsible for payment of all costs in excess of the amounts contributed hereunder. If on any occasion the balance in the Airframe Structural Maintenance Fund, Engine Performance
Restoration Maintenance Fund for a particular Engine, Engine LLP Maintenance Fund for a particular Engine, APU Maintenance Fund or Landing Gear Maintenance Fund (at the time of the structural check, in the case of the Airframe, or at the time of
removal, in the case of an Engine, the APU and the Landing Gear) is insufficient to satisfy a claim for contribution in respect of the Airframe, such Engine, the APU or the Landing Gear, as applicable, the shortfall may not be carried forward or
made the subject of any further claim for contribution. 
  

	12.9	Contribution after Termination Date and Retention of Maintenance Funds 

 Lessee may not submit any request for contribution from the Maintenance Funds after the Termination Date unless prior to such date Lessee has notified Lessor in writing that such outstanding request for
contribution will be submitted after the Termination Date and the anticipated amount together with supporting documentation pursuant to Article 12.6. So long as Lessee has provided such notice to Lessor, Lessee may then submit such satisfactory
evidence at any time within sixty (60) days after the Termination Date, provided however that Lessee may reasonably request an extension for an 

  
 53(138)

 
additional period to be agreed between Lessor and Lessee. Subject to the foregoing, any balance remaining in the Maintenance Funds on the Termination Date will be retained by Lessor, except in
case of a Total Loss of the Aircraft or the Airframe, in which case Lessor will contribute to Lessee the balance of the Maintenance Funds held by Lessor on the Termination Date upon the payment of the Agreed Value. 

  
 54(138)

	13.	TITLE, REGISTRATION AND IDENTIFICATION PLATES 

  

	13.1	Title to the Aircraft 

Title to the Aircraft will be and remain vested in Lessor. Lessor and Lessee intend this Lease to be a “true lease”. Lessee will
have no right, title or interest in the Aircraft except as provided in this Lease. 
  

	13.2	Registration of Aircraft 

Throughout the Lease Term, Lessee shall, at its sole cost and expense (i) register and maintain the registration of the Aircraft in
the name of Lessor as owner and lessor of the Aircraft under this Lease at the aviation section of the register of aircraft maintained by the Aviation Authority in the State of Registration and, when and to the extent such shall become applicable,
at the International Registry under the terms provided by the Cape Town Convention; and (ii) from time to time take all other steps and file or cause to be filed with the Aviation Authority and/or any and all appropriate registries of property
or security interests in property any mortgage, any assignment or other similar instruments required by Law (including the Geneva Convention and the Cape Town Convention, if applicable) or as Lessor and/or Lessor’s Lender may request to
protect, preserve, maintain and perfect the rights, title and interests of Lessor and at Lessor’s cost and expense, Lessor’s Lender in and to the Aircraft, this Lease and any other document relating to the transactions contemplated herein
in the State of Registration, Mexico or in any other jurisdiction in or over which the Aircraft may be operated at any time (including, but not limited to, amending this Lease and any other document relating to the transactions contemplated herein
or taking such other action in connection herewith or therewith, as may be necessary and consistent with the business, commercial, economic and other agreements of the parties as expressed herein, to comply with the Cape Town Convention, if
applicable). Lessee shall not take any action or omit to take any action that may invalidate any such registration or otherwise prejudice the rights, title and interests of Lessor and Lessor’s Lender in and to the Aircraft, this Lease and/or
any other document relating to the transactions contemplated herein. Lessee shall provide Lessor with evidence of such registration as soon as it becomes available. Lessee shall insure that the original certificate of registration for the Aircraft
is kept on the Aircraft or, where it is permitted to be removed, in safe custody or as otherwise required by applicable Law. 
  

	13.3	Registration of this Lease 

In accordance with the requirements of the Law from time to time, Lessee at its cost and expense, except as otherwise provided herein,
will cause this Lease and any amendments, assignments, novations or agreements that are entered 

  
 55(138)

 
into by the parties in accordance with its terms to be kept, filed, recorded and refiled or rerecorded in the State of Registration and in any other jurisdiction necessary to protect
Lessor’s rights and, at Lessor’s cost, Lessor’s Lender’s Security Interest hereunder. Lessor will, at Lessee’s cost, cause this Lease to be translated into Spanish for the purpose of registering this Lease with the Aviation
Authority on or prior to Delivery. 
  

	13.4	Registration of Title 

Lessee at its sole cost and expense will cause the bill of sale evidencing Lessor’s title and ownership interest in respect to the
Aircraft to be kept, filed, recorded and refiled or rerecorded in the State of Registration and in any other jurisdiction where necessary to protect Lessor’s ownership rights in respect to the Aircraft. 

 

	13.5	Registration of Security Interest 

 Lessee, at Lessor’s cost and expense, will cause any mortgage or other document creating or evidencing any Security Interest of Lessor’s Lender in respect to the Aircraft to be kept, filed,
recorded and refiled or rerecorded in the State of Registration and in any other jurisdiction necessary to protect the rights and interests of Lessor’s Lender under such Security Interest. 

 

	13.6	Evidence of Registration and Filings 

 At Delivery, Lessee will furnish to Lessor and Lessor’s Lender an opinion of counsel substantially in the form of Exhibit K hereto and other evidence satisfactory to Lessor of the
registrations and filings required to be made on or prior to Delivery. After completion of the post-Delivery requirements stipulated in Article 6.3, Lessee will furnish to Lessor any other evidence satisfactory to Lessor confirming that all
such registrations and flings have been completed. Thereafter, Lessee will furnish to Lessor and Lessor’s Lender other evidence satisfactory to Lessor of the registrations and filings required hereunder as Lessor may request from time to time.

  

	13.7	Identification Plates 

 On
the Delivery Date (or, in case of the APU, as soon as practicable thereafter), Lessee will affix, or arrange to affix, and at all times during the Lease Term maintain in a prominent position on the Airframe, each Engine and the APU fireproof metal
identification plates bearing a legible inscription stating the relevant serial number and denoting the name of (i) Lessor as owner, (ii) Lessor’s Lender as mortgagee, if applicable, and (iii) Lessee as operator. Lessee will not
allow the name of any other person to be placed on the Airframe, any Engine or the APU as a designation that constitutes a claim of ownership or a claim of any Security Interest, provided that nothing shall prohibit Lessee from placing its customary
colors and insignia on the Airframe. 

  
 56(138)

	14.	TAXES 

  

	14.1	General Obligation of Lessee 

 Except as set forth in Article 14.2, Lessee agrees to pay promptly when due, and to indemnify and hold harmless each of Lessor and Lessor’s Lender (each a “Tax Indemnitee” and
together the “Tax Indemnitees”) on a full indemnity basis from, all license and registration duties and all taxes, fees, levies, imposts, duties, charges, deductions or withholdings of any nature (including without limitation any
asset, value added, franchise, transfer, sales, gross receipts, use, business, excise, turnover, personal property, stamp or other tax, duty or benefit (aprovechamientos)) together with any assessments, penalties, fines, additions to tax or
interest thereon, however or wherever imposed (whether imposed upon Lessee, Lessor or any other Tax Indemnitee, on all or part of the Aircraft, the Engines or otherwise), by any Government Entity or taxing authority upon or with respect to, based
upon or measured by any of the following (collectively “Taxes”): 
  

	 	(a)	the Aircraft, Engines, APU or any Parts; 

  

	 	(b)	the use, operation or maintenance of the Aircraft or carriage of passengers or freight during the Lease Term and until the Termination Date; 

 

	 	(c)	this Lease, the payments due hereunder and the terms and conditions hereof; and 

 

	 	(d)	the ownership, financing, delivery, import (including duties payable in connection with the importation of the Aircraft into Mexico) or export, return, sale, payment of
Total Loss Proceeds or other disposition of the Aircraft. 

  

	14.2	Exceptions to Indemnity 

The indemnity provided for in Article 14.1 does not extend to any of the following Taxes (“Excluded Taxes”):

  

	 	(a)	Taxes imposed upon a Tax Indemnitee on the net income, capital gains, profits, turnover, gross receipts or net worth of a Tax Indemnitee or franchise or similar Taxes
imposed on a Tax Indemnitee; 

  

	 	(b)	Taxes imposed upon a Tax Indemnitee attributable solely to facts or circumstances occurring during the period prior to Delivery or after the Termination Date and return
of the Aircraft in the condition required hereunder; 

  
 57(138)

	 	(c)	Taxes imposed upon a Tax Indemnitee to the extent attributable solely to such Tax Indemnitee’s willful misconduct or breach of this Lease or any agreement,
document or instrument entered into and/or delivered in connection herewith (unless such breach was caused by an act or omission of Lessee); 

  

	 	(d)	Taxes imposed upon a Tax Indemnitee as a result of a sale, assignment, transfer or other disposition, whether voluntary or involuntary, by a Tax Indemnitee of all or
any part of its interests in the Aircraft and/or this Lease other than any such disposition arising as a result of the enforcement of any remedies by Lessor or Lessor’s Lender in connection with an Event of Default or a Total Loss;

  

	 	(e)	Taxes imposed upon a Tax Indemnitee as a result of any past, present or future activities of such Tax Indemnitee in the jurisdiction imposing any such Taxes which are
unrelated to the transactions contemplated by this Lease; 

  

	 	(f)	Taxes attributable to a Lessor’s Lien or to the extent that such Taxes would not have arisen or been assessed in the absence of a Lessor’s Lien;

  

	 	(g)	Taxes which, absent any Default by Lessee, constitute penalties, fines or interest imposed on Taxes indemnified by Lessee hereunder where the imposition of such
penalties, fines or interest is caused solely by reason of the failure of any Tax Indemnitee to file tax returns pursuant to the requirements in any relevant jurisdiction so long as such Tax Indemnitee is given notice about such filing requirement
reasonably in advance of the applicable filing deadline and such Tax Indemnitee fails to exercise reasonable diligence and file such return; 

  

	 	(h)	Taxes for which a Tax Indemnitee has received full payment under any other provision of this Lease; 

 

	 	(i)	Taxes which are not yet due or are being contested in good faith by appropriate proceedings, during the pendency of such proceedings; and 

 

	 	(j)	Taxes or additional or incremental Taxes to the extent the same are attributable to the failure of a Tax Indemnitee to give timely notice of a claim under this
Article 14 and/or to take timely action in contesting or permitting the contest of any such Tax which may be contested by such Tax Indemnitee or, in accordance with this Article 14, Lessee if required to take such action, but only if such
failure precludes or prejudices a contest of the relevant Tax(es). 

  
 58(138)

	14.3	After Tax Basis 

 The
amount which Lessee is required to pay with respect to any Taxes indemnified against under Article 14.1 is an amount sufficient to restore the affected Tax Indemnitee on an after tax basis to the same position in which such Tax Indemnitee would
have been if such Taxes had not been incurred. 
  

	14.4	Timing of Payment 

 Any
amount payable to a Tax Indemnitee pursuant to this Article 14 will be paid within ten (10) Business Days after receipt of a written demand therefor from such Tax Indemnitee accompanied by a written statement describing in reasonable
detail the basis for such indemnity and the computation of the amount so payable, provided, however, that such amount need not be paid by Lessee prior to the earlier of (a) the date any Tax is payable to the appropriate Government Entity or
taxing authority or (b) in the case of amounts which are being contested by Lessee in good faith by appropriate proceedings or by such Tax Indemnitee pursuant to Article 14.5, the date such contest is finally resolved. 

 

	14.5	Contests 

 If a claim is
made against a Tax Indemnitee for Taxes with respect to which Lessee is liable for a payment or indemnity under this Lease or for a “gross-up” pursuant to Article 4.8 of this Lease, such Tax Indemnitee will promptly give Lessee notice
in writing of such claim, provided, however, that such Tax Indemnitee’s failure to give notice will not relieve Lessee of its obligations hereunder except to the extent such failure materially impairs or precludes Lessee’s ability to
contest the claim or results in penalties, interest or additions to Taxes which are attributable to such delay, to the extent of such penalties, interest or additions. So long as (a) a contest of such Taxes does not involve any likelihood of
the sale, forfeiture or loss of the Aircraft or any interest therein, and (b) adequate reserves have been made or set aside in accordance with Financial Information Norms or “Normas de Información Financiera” (NIF) for such
Taxes or, if required, an adequate bond has been posted, then such Tax Indemnitee at Lessee’s written request will in good faith, with due diligence and at Lessee’s expense, contest (or permit Lessee to contest in the name of Lessee or
such Tax Indemnitee) the validity, applicability or amount of such Taxes. 
  

	14.6	Refunds 

 Upon receipt by
Tax Indemnitee of a refund of all or any part of any Taxes (including any deductions or withholdings referred to in Article 4.8) which Lessee has paid, such Tax Indemnitee will pay to Lessee the net amount of such Taxes refunded. 

  
 59(138)

	14.7	Cooperation in Filing Tax Returns 

 Lessee and the Lessor will cooperate with one another in providing information which may be reasonably required to fulfill each party’s tax filing requirements and any audit information request
arising from such filing. 
  

	14.8	Survival of Obligations 

The representations, warranties, indemnities and agreements of Lessee provided for in this Article 14 will survive the Termination
Date. 
  

	14.9	Protection 

 Each of the
Tax Indemnitees shall be entitled to all rights of ‘Lessor’ under this Article 14, mutatis mutandis, and may enforce the provisions of such article directly against Lessee, subject to the terms hereof. 

 

	14.10	Mitigation 

 If Lessee is
required to pay, indemnify against, reimburse, deduct or withhold any Taxes under this Lease, Lessor agrees, at Lessee’s request and at Lessee’s cost and expense, to use reasonable efforts to cooperate with Lessee in order to mitigate such
Taxes. 

  
 60(138)

	15.	INDEMNITIES 

  

	15.1	General Indemnity 

 Except
as set forth in Article 15.2, Lessee agrees to indemnify and hold harmless each of Lessor and Lessor’s Lender and their respective successors, permitted assigns, shareholders, members, beneficial interest owners, subsidiaries, affiliates,
trustees, directors, officers, duly appointed agents, servants, employees and designated representatives (individually an “Indemnitee” and collectively “Indemnitees”) from any and all liabilities, obligations,
losses, damages and prejudices, penalties, claims, actions, suits, costs, disbursements and expenses (including legal fees, costs and related expenses) of every kind and nature (collectively “Damages and Prejudices”), which are
imposed on, incurred by or asserted against any Indemnitee and which are in any way related to, based on or arise out of any of the following: 
  

	 	(a)	this Lease or the transactions contemplated hereby; 

  

	 	(b)	the operation, possession, use, non-use, control, leasing, subleasing, maintenance, storage, overhaul, testing or inspections of the Aircraft, any Engine, the APU or
any Part (whether by Lessee, any sublessee or any other Person) during the Lease Term and until the Termination Date (including the acceptance flights at return), whether or not the same is in compliance with the terms of this Lease, including
without limitation claims for death, personal injury, property damage, other loss or harm to any Person and claims relating to any Laws, including without limitation environmental control, noise and pollution laws, rules or regulations;

  

	 	(c)	the manufacture, design, acceptance by Lessee or any sublessee, rejection by Lessee or any sublessee, delivery to Lessee or any sublessee, return by Lessee or any
sublessee, sale arising as the direct consequence of an Event of Default, import by Lessee or any sublessee, export by Lessee or any sublessee, condition, repair, Modification, servicing, enforcement of warranties whether in Lessor’s or
Lessee’s name, customer, product support, information or training provided by Manufacturer and other vendors, airworthiness, registration, re-registration, performance, sublease, merchantability, fitness for use, substitution or replacement of
the Aircraft, an Engine, the APU or any Part under this Lease or other transfer of use or possession of the Aircraft, an Engine, the APU or any Part prior to the Termination Date, including without limitation latent and other defects, whether or not
discoverable and patent, trademark or copyright infringement; 

  
 61(138)

	 	(d)	the prevention or attempt to prevent the arrest, confiscation, seizure, taking in execution, impounding, forfeiture or detention of the Aircraft, or in securing the
release of the Aircraft; or 

  

	 	(e)	without duplication of amounts recovered under Article 23 hereof, as a consequence of any Default or Event of Default by Lessee or any Sublessee.

 The foregoing indemnity by Lessee is intended to include and cover any Damages and Prejudices to which an
Indemnitee may be subject (in contract, tort, strict liability or under any other theory) regardless of the negligence, active or passive or any other type, of such Indemnitee, so long as such Damages and Prejudices does not fall within any of the
exceptions listed in Article 15.2. 
  

	15.2	Exceptions to General Indemnities 

 The indemnity provided for in Article 15.1 will not extend to the following Damages and Prejudices of any Indemnitee: 
  

	 	(a)	Damages and Prejudices which result or arise from the willful misconduct or breach of any obligation, covenant, representation or warranty of such Indemnitee;

  

	 	(b)	Damages and Prejudices which result or arise from facts and circumstances which are attributable to acts or events which occur after the Termination Date and return of
the Aircraft to Lessor in the condition required hereunder, but in any such case only to the extent not attributable to acts or omissions of Lessee during the Lease Term; 

 

	 	(c)	Damages and Prejudices which result or arise from facts or circumstances occurring prior to the Delivery Date; 

 

	 	(d)	Damages and Prejudices which are representing Taxes covered by Lessee’s indemnity obligations under Article 14 hereof; 

 

	 	(e)	Damages and Prejudices which are attributable to a sale, assignment, transfer or other conveyance of any right, title or interest of an Indemnitee in or to the Aircraft
and/or this Lease, unless the same results from the existence of an Event of Default, Total Loss or the exercise of remedies by Lessor; or 

  

	 	(f)	Damages and Prejudices which constitute normal operating or overhead expenses of Lessee. 

  
 62(138)

	15.3	After Tax Basis 

 The
amount which Lessee will be required to pay with respect to any Damages and Prejudices indemnified against under Article 15.1 will be an amount sufficient to restore the Indemnitee, on an after tax basis, to the same position such Indemnitee
would have been in had such Damages and Prejudices not been incurred. 
  

	15.4	Timing of Payment 

 It is
the intent of the parties that each Indemnitee will have the right to indemnification for Damages and Prejudices hereunder as soon as a claim is made and as soon as such Damages and Prejudices are incurred, whether or not such claim is meritorious
and whether or not liability is established (but subject to Article 15.8). Lessee will pay an Indemnitee for Damages and Prejudices pursuant to this Article 15 within five (5) Business Days after receipt of a written demand therefor
from such Indemnitee accompanied by a written statement describing in reasonable detail the basis for such indemnity, unless Lessee is contesting such claim in good faith by appropriate proceedings in which case payment, if due, will be made within
five (5) Business Days of final determination of such contest. 
  

	15.5	Subrogation 

 Upon the
payment in full of any indemnity pursuant to this Article 15 by Lessee, Lessee will be subrogated to any right of the Indemnitee in respect of the matter against which such indemnity has been made. 

 

	15.6	Notice 

 Each Indemnitee
and Lessee will give prompt written notice one to the other of any liability of which such party has knowledge for which Lessee is, or may be, liable under Article 15.1, provided, however, that failure to give such notice will not terminate any
of the rights of Indemnitees under this Article 15, except to the extent a failure by an Indemnitee to provide such notice materially impairs, precludes or prejudices Lessee’s right or ability to defend and/or contest the claim giving rise
to the Indemnitee’s claim under this Article 15. 
  

	15.7	Refunds 

 Upon receipt by
an Indemnitee of a refund, insurance proceeds or other recovery of amounts which Lessee has paid pursuant to this Article 15, such Indemnitee will pay to Lessee the net amount of such amounts received. 

  
 63(138)

	15.8	Defense of Claims 

 Unless
a Default or Event of Default has occurred and is continuing, Lessee and its insurers will have the right (in each such case at Lessee’s sole expense) to investigate or, provided that Lessee (or its insurers to the extent such claim is covered
by insurance) have not reserved the right to dispute liability with respect to any insurance policies pursuant to which coverage is sought, defend or compromise any claim for which indemnification is sought pursuant to Article 15.1 and each
Indemnitee will cooperate with Lessee or its insurers with respect thereto. If Lessee or its insurers are retaining attorneys to handle such claim, such counsel must be reasonably satisfactory to the Indemnitees. If not, the Indemnitees will have
the right to retain counsel of their choice at Lessee’s expense. 
  

	15.9	Survival of Obligation 

Notwithstanding anything in this Lease to the contrary, the provisions of this Article 15 will survive the Termination Date and
continue in full force and effect notwithstanding any breach by Lessor or Lessee of the terms of this Lease, the termination of the lease of the Aircraft to Lessee under this Lease or the repudiation by Lessor or Lessee of this Lease. 

  
 64(138)

	16.	INSURANCE 

  

	16.1	Categories of Insurance 

From the Delivery Date and throughout the Lease Term and until the Termination Date, Lessee will, at its own expense, effect and maintain
in full force and effect the types of insurance and amounts of insurance (including deductibles) described in Exhibit C through reputable aviation insurance brokers and insurers as may be reasonably acceptable to Lessor in Mexico City,
London, New York or such other insurance markets as mutually agreed upon by the parties. Pursuant to Exhibit C, (i) Lessee will cause Lessor or Lessor’s Lender, as designated by Lessor, to be named as loss payee or contract party
for the Agreed Value under the hull and spares insurances required to be maintained by Lessee under the Lease and (ii) Lessee will cause Lessor, Lessor’s Lender and each Indemnitee and each of their respective successors, permitted
assigns, shareholders, members, beneficial interest owners, subsidiaries, affiliates, trustees, directors, officers, agents, servants, employees and representatives to be named as additional insureds under Lessee’s aviation and general third
party liability insurance maintained by Lessee under this Lease. 
  

	16.2	Write Back of Any Date Recognition Exclusion 

 In the event any of Lessee’s insurances (either the primary insurance or the reinsurance) contain any date recognition exclusion clause or similar clause excluding from such insurance coverage damage
to any property (including the Aircraft) or death or injury to any person on account of accidents, incidents or occurrences caused by date recognition or other Year 2000 related problems, Lessee at its cost will obtain for the benefit of itself and
Lessor the broadest write back available in the London insurance market with respect to such exclusion. 
  

	16.3	Third Party War Liability Insurance 

 Lessee will carry third party war risk liability insurance in the amount required by Exhibit C. 
  

	16.4	Installation of Third Party Engine 

 If Lessee installs an engine not owned by Lessor on the Aircraft, either (a) Lessee’s hull insurance on the Aircraft will automatically increase to such higher amount as is necessary in order to
satisfy Lessor or Lessor’s Lender’s, as applicable, requirement to receive the Agreed Value in the event of a Total Loss and the amount required by the third party engine owner or (b) separate additional insurance on such engine will
attach in order to satisfy separately the requirements of the Lessee to such third party engine owner. 

  
 65(138)

	16.5	Insurance for Indemnities 

The insurance referred to in Article 16.1 will in each case include and insure (to the extent of the risks covered by the policies)
the indemnity provisions of Article 15 and Lessee will cause Lessor and Lessor’s Lender to be named as additional insureds in respect of the coverage provided by Lessee’s Third Party Legal Liability and Products Liability insurance
for a period of two (2) years following the Termination Date. Such Policies shall be maintained in accordance with prudent industry practice for similarly situated air carriers. 

 

	16.6	Renewal 

 Prior to the
expiration or termination date of any insurance required hereunder, Lessee will provide Lessor with fax confirmation from Lessee’s insurance brokers that the insurances required hereunder have been renewed or replaced in conformity with the
provisions hereof effective as of such termination date and that a renewal Certificate of Insurance and Brokers’ Letter of Undertaking evidencing such renewal or replacement and complying with Exhibit C will be issued no later than on
the termination date of the prior certificate and furnished to Lessor within seven (7) days after such renewal. 
  

	16.7	Assignment of Rights by Lessor 

 If Lessor assigns, transfers or otherwise conveys all or any portion of its rights in or to the Aircraft or this Lease as permitted by and in conformity with the relevant provisions of this Lease, Lessee
will, upon request, procure that such Person be added as loss payee and/or additional insured under the policies effected hereunder and enjoy the same rights and insurance enjoyed by Lessor under such policies. Lessor and the other Indemnitees will
nevertheless continue to be covered by such policies for the period required hereunder. 
  

	16.8	Deductibles 

 If there is
a material adverse change in the financial condition of Lessee which Lessor reasonably believes will cause Lessee to be unable to pay the deductible upon the occurrence of a partial loss of the Aircraft or an Engine, then Lessor may upon
consultation with Lessee and its insurance brokers require Lessee at Lessee’s expense to lower its deductibles on the insurance maintained hereunder to a level which is available on commercially reasonable terms in the insurance market.

  
 66(138)

	16.9	Insurance for Wet Lease Operations 

 In the event Lessee is performing wet lease operations with the Aircraft pursuant to Article 10.6 and the wet lessee is carrying the primary passenger, baggage cargo liability insurance with respect
to the flights, then such insurance must meet the requirements of Exhibit C, including the naming of the additional insureds and the inclusion of the other endorsements set forth in Exhibit C. Moreover, Lessee will at all times
carry contingent passenger, baggage and cargo liability insurances for such flights. Prior to commencement of wet lease operations for a particular wet lessee, Lessor will receive certificates of insurance from the insurance brokers for Lessee and,
if applicable, the wet lessee evidencing such coverages if insurance for such wet lease operations is not covered under Lessee’s policies for which a Certificate of Insurance has already been delivered to Lessor. 

 

	16.10	Information 

 Lessee will
provide Lessor with any information reasonably requested by Lessor from time to time concerning the insurance required to be maintained hereunder with respect to the Aircraft or in connection with any claim being made thereunder. 

 

	16.11	Currency 

 All proceeds of
insurance pursuant to this Lease will be payable in Dollars except as may otherwise be required by applicable Law. 
  

	16.12	Grounding of Aircraft 

 If
at any time any of the insurance required pursuant to this Lease will cease to be in full force and effect, Lessee will forthwith ground the Aircraft and keep the Aircraft grounded until such time as such insurance is in full force and effect again
unless otherwise permitted by Lessor and by applicable Law except in respect of any insurance which ceases to be in effect in respect of all carriers and not specifically Lessee. 

 

	16.13	Failure to Insure 

 If at
any time Lessee fails to maintain insurance in compliance with this Article 16, Lessor will be entitled but not bound to do any of the following (without prejudice to any other rights which it may have under this Lease by reason of such
failure): 
  

	 	(a)	to pay any premiums due or to effect or maintain insurance satisfactory to Lessor or otherwise remedy such failure in such manner as Lessor considers appropriate (and
Lessee will upon demand reimburse Lessor in full for any amount so expended in that connection); or 

  

	 	(b)	at any time while such failure is continuing, to require the Aircraft to remain at any airport or (as the case may be), proceed to and remain at any airport designated
by Lessor, until such failure is remedied to Lessor’s satisfaction. 

  
 67(138)

	16.14	Reinsurance 

 Any
reinsurance will be maintained with reinsurers and brokers of international repute, commonly participating in the international aviation insurance markets and reasonably acceptable to Lessor. Such reinsurance will contain each of the following terms
and will in all other respects (including amount) be satisfactory to Lessor: 
  

	 	(a)	the same terms as the original insurance; 

  

	 	(b)	a cut through and assignment clause satisfactory to Lessor; and 

  

	 	(c)	(without prejudice to the relevant cut through clause) payment will be made notwithstanding (i) any bankruptcy, judicial recuperation, insolvency, liquidation or
dissolution of any of the original insurers and/or (ii) that the original insurers have made no payment under the original insurance policies. 

  

	16.15	Limit on Hull in favor of Lessee 

 Lessee may carry hull all risks and hull war and allied perils on the Aircraft in excess of the Agreed Value (which is payable to Lessor or Lessor’s Lender, as applicable) provided that such excess
insurance which would be payable to Lessee in the event of a Total Loss will not prejudice the insurances required herein or the recovery by Lessor’s Lender thereunder. Lessee agrees that it will not create or permit to exist any liens or
encumbrances over the insurances, or its interest therein, except as constituted by this Lease. 
  

	16.16	AVN 67B 

 Notwithstanding
the provisions of this Article 16 and Exhibits C and D hereto, for so long as it remains the general practice of air carriers to insure equipment financed or leased on the basis of the Airline Finance/Lease Endorsement AVN 67B or its
equivalent, Lessee may maintain insurances in respect of the Aircraft and this Lease which incorporate the terms and conditions of AVN 67B. To the extent any provision of AVN 67B conflicts with or is otherwise inconsistent with the requirements of
this Article 16 and Exhibits C and D hereto, then the provisions of such terms and conditions of AVN 67B shall be deemed to satisfy the relevant requirements of this Lease. 

  
 68(138)

	17.	LOSS, DAMAGE AND REQUISITION 

 Throughout the Lease Term and until the Termination Date, Lessee will bear all risk of loss, theft, damage and destruction to the Aircraft. 

 

	17.1	Definitions 

 In this
Article 17 and this Lease: 
 “Agreed Value” means *****. The Agreed Value will decrease by ***** per annum
during the Lease Term, commencing on the first anniversary of the Delivery Date and on each corresponding month and day of each subsequent year during the Lease Term. 
 “Net Total Loss Proceeds” means the Total Loss Proceeds actually received by Lessor’s Lender following a Total Loss, less any incurred legal and other out of pocket expenses, taxes
or duties incurred by Lessor or Lessor’s Lender in connection with the collection of such proceeds. 
 “Total
Loss” means any of the following in relation to the Aircraft, Airframe, any Engine or the APU and “Total Loss Date” means the date set forth in parenthesis after each Total Loss: 

 

	 	(a)	destruction, damage beyond repair or being rendered permanently unfit for normal use for any reason (the date such event occurs or, if not known, the date on which the
Aircraft, Airframe, Engine or APU was last heard of); 

  

	 	(b)	actual, constructive, compromised, arranged or agreed total loss (the earlier of the date on which the loss is agreed or compromised by the insurers or thirty (30)
days after the date of notice to Lessee’s brokers or insurers claiming such total loss); 

  

	 	(c)	expropriation without compensation, requisition of title, confiscation, forfeiture or any compulsory sale or acquisition or other similar event (the date on which the
same takes effect); 

  

	 	(d)	sequestration, detention, seizure or any similar event for more than thirty (30) consecutive days (the earlier of the date on which insurers make payment on the
basis of a total loss or the date of expiration of such period); 

  

	 	(e)	requisition for use for more than one hundred eighty (180) consecutive days, except requisition by a Government Entity in accordance with the provisions of
Article 17.8 (the earlier of the date on which the insurers make payment on the basis of a total loss or the date of expiration of such period); 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 69(138) 

	 	(f)	temporary or cautionary securement for more than sixty (60) consecutive days (the earlier of the date on which insurers make payment on the basis of a total loss
or the date of expiration of such period); 

  

	 	(g)	in the case of an Engine, the event described in Article 11.6.3 (the date on which the same takes effect). 

“Total Loss Proceeds” means the proceeds of any insurance or any compensation or similar payment arising in respect of a
Total Loss. 
  

	17.2	Notice of Total Loss 

Lessee will notify Lessor in writing within one (1) Business Day after a Total Loss Date of the Aircraft, Airframe, any Engine or the
APU. 
  

	17.3	Total Loss of Aircraft or Airframe 

 If the Total Loss of the Aircraft or Airframe occurs during the Lease Term, the following will occur: 
  

	17.3.1	After the Total Loss Date and until receipt by Lessor or Lessor’s Lender, as applicable, of the Agreed Value and receipt by Lessor of all other amounts then due
from Lessee under this Lease, Lessee will continue to pay Rent and the parties will perform all of their other obligations under this Lease. 

  

	17.3.2	On the date which is the earlier of the following dates: 

  

	 	(a)	the date on which the Total Loss Proceeds of the Aircraft or the Airframe are paid by Lessee’s insurance underwriters or brokers and 

 

	 	(b)	the date which falls ninety (90) days after the Total Loss Date, 

 Lessee will pay to Lessor, or as Lessor directs, to Lessor’s Lender, an amount equal to the Agreed Value and all other amounts then accrued and payable under this Lease. 

 

	17.3.3	Lessor will, and will procure Lessor’s Lender to, apply the Net Total Loss Proceeds and any amounts received from Lessee pursuant to Article 17.3.2 as
follows: 

  

	 	(a)	first, in discharge of any unpaid Rent and any other amounts due and unpaid up to the date of Lessor’s Lender receipt of the Agreed Value;

  

	 	(b)	second, in discharge of the Agreed Value; and 

  

	 	(c)	third, payment of the balance, if any, to Lessee. 

  
 70(138)

 Upon receipt by Lessor and Lessor’s Lender of all monies payable by Lessee hereunder,
Lessor will return to Lessee any amount of prepaid Rent paid by Lessee which pertains to the period, if any, after the Termination Date. Such Rent will be calculated as a daily amount and prorated on the basis of a thirty (30) day month.

  

	17.3.4	Upon receipt by Lessor’s Lender and Lessor of all monies payable by Lessee hereunder, this Lease will terminate except for Lessee’s obligations under
Articles 9.5, 14 and 15 which survive the Termination Date. 

 A TOTAL LOSS OF THE AIRCRAFT WILL BE DEEMED TO
HAVE OCCURRED WHEN A TOTAL LOSS OF THE AIRFRAME OCCURS EVEN IF THERE HAS NOT BEEN A TOTAL LOSS OF AN ENGINE OR THE ENGINES. 
  

	17.4	Surviving Engine(s) 

 If a
Total Loss of the Airframe occurs and there has not been a Total Loss of an Engine or Engines, then, provided no Default or Event of Default has occurred and is continuing, at the request of Lessee (subject to agreement of relevant insurers) and on
receipt by Lessor and Lessor’s Lender of all monies due under Article 17.3 and payment by Lessee of all airport, navigation and other charges on the Aircraft, if any, Lessor will transfer all its right, title and interest in the surviving
Engine(s) to Lessee or to Lessee’s insurers, as applicable, but without any responsibility, condition or warranty on the part of Lessor other than as to freedom from any Lessor’s Lien. 

 

	17.5	Total Loss of Engine and Not Airframe 

  

	17.5.1	 Upon a Total Loss of any Engine not installed on the Airframe or a Total Loss of an Engine installed on the Airframe not involving a Total Loss of the
Airframe, Lessee will replace such Engine as soon as reasonably practicable by duly conveying to Lessor title to another engine from Lessee (or another Person) (a) free and clear of all Security Interests (except Permitted Liens), (b) in
airworthy condition and of the same or improved model, service bulletin and modification status and having a value and utility at least equal to the Engine which sustained the Total Loss, considering also the age of the engine, and (c) in the
same or better operating condition as the Engine which sustained a Total Loss, including time in service, Flight Hours and Cycles since new and Flight Hours and Cycles available to the next inspection, Overhaul or scheduled or anticipated removal
and the thrust rating at which any modules have been operated. Such replacement engine will be an “Engine” as defined herein and the Engine which sustained such Total Loss will cease to be an “Engine.” For the avoidance of doubt,
in the event that the Engine that sustained the Total Loss shall be replaced by an Engine of similar or better condition as described 

  
 71(138)

	 	
above, the available amounts in the Engine Performance Restoration Maintenance Fund originally for the Engine that sustained the Total Loss shall “carry over” and be applicable in
accordance with the terms of this Lease for maintenance of the replacement engine as if such had been the original Engine. 

  

	17.5.2	Lessee agrees at its own expense to take such action as Lessor may request in order that any such replacement engine becomes the property of Lessor and is leased
hereunder on the same terms as the destroyed Engine. Lessee’s obligation to pay Rent will continue in full force and effect, but an amount equal to the Net Total Loss Proceeds received by Lessor with respect to such destroyed Engine will,
subject to Lessor’s right to deduct therefrom any amounts then due and payable by Lessee under this Lease, be paid to Lessee. 

  

	17.6	Total Loss of APU 

  

	17.6.1	Upon a Total Loss of the APU when not installed on the Airframe or a Total Loss of the APU while installed on the Airframe not involving a Total Loss of the Airframe,
Lessee will replace such APU as soon as reasonably possible by duly conveying to Lessor title to another auxiliary power unit (a) free and clear of all Security Interests (except Permitted Liens) of any kind or description, (b) in
airworthy condition and of the same or improved model, service bulletin and modification status and having a value and utility at least equal to the APU which sustained the Total Loss, (c) not older (by reference to serial number or manufacture
date) than the APU delivered by Lessor to Lessee with the Aircraft on the Delivery Date and (d) in the same or better operating condition as the APU which sustained the Total Loss, including time in service, Flight Hours and Cycles since new
and Flight Hours and Cycles available to the next inspection, Overhaul or scheduled or anticipated removal. Such replacement auxiliary power unit will be the “APU” as defined herein and the auxiliary power unit which sustained such Total
Loss will cease to be the “APU.” For the avoidance of doubt, in the event that the APU that sustained the Total Loss shall be replaced by an APU of similar or better condition as described above, the available amounts in the APU
Maintenance Fund originally for the APU that sustained the Total Loss shall “carry over” and be applicable in accordance with the terms of this Lease for maintenance of the replacement APU as if such had been the original APU.

  

	17.6.2	Lessee agrees at its own expense to take such action as Lessor may request in order that any such replacement APU becomes the property of Lessor and is leased hereunder
on the same terms as the destroyed APU. Lessee’s obligation to pay Rent will continue in full force and effect, but an amount equal to the Net Total Loss Proceeds received by Lessor with respect to such destroyed APU will, subject to
Lessor’s right to deduct therefrom any amounts then due and payable by Lessee under this Lease, be paid to Lessee. 

  
 72(138)

	17.7	Other Loss or Damage 

  

	17.7.1	If the Aircraft or any Part thereof suffers loss or damage not constituting a Total Loss of the Aircraft or the Airframe or any Engine or the APU, all the obligations
of Lessee under this Lease (including payment of Rent) will continue in full force. 

  

	17.7.2	In the event of any loss or damage to the Aircraft or Airframe which does not constitute a Total Loss of the Aircraft or the Airframe, or any loss or damage to an
Engine or the APU which does not constitute a Total Loss of such Engine or the APU, Lessee will at its sole cost and expense fully repair the Aircraft, Engine or APU in order that the Aircraft, Engine or APU is placed in an airworthy condition and
substantially the same condition as it was prior to such loss or damage. Lessee will notify Lessor forthwith of any loss, theft or damage to the Aircraft for which the cost of repairs is estimated to exceed *****, together with Lessee’s
proposal for carrying out the repair. In the event that Lessor does not agree with Lessee’s proposals for repair, Lessor will so notify Lessee within two (2) Business Days after its receipt of such proposal. Lessee and Lessor will then
consult with Manufacturer and Lessee and Lessor agree to accept as conclusive, and be bound by, Manufacturer’s directions or recommendations as to the manner in which to carry out such repairs. If Manufacturer declines to give directions or
recommendations, Lessee will carry out the repairs in accordance with the directions of Lessor. 

  

	17.7.3	To the extent that any insurance proceeds received by Lessee from its insurers do not cover the cost of repair work on the Aircraft in accordance with this
Article 17.7 and Lessor or Lessor’s Lender has received additional insurance proceeds from Lessee’s insurers with respect to such repair work, Lessor will (subject to Lessor’s right to deduct therefrom any amounts then due and
payable by Lessee under this Lease on account of an Event of Default and submission by Lessee of documentation in support of such excess repair costs) procure that such insurance proceeds received by Lessor or Lessor’s Lender are paid to Lessee
as and when such repair work is performed on the Aircraft. 

  

	17.8	Government Requisition 

If the Aircraft, Airframe, any Engine or the APU is requisitioned for use by any Government Entity, Lessee will promptly notify Lessor of
such requisition. All of Lessee’s obligations hereunder will continue as if such requisition had not occurred. So long as no Default or Event of Default has occurred and is continuing, all payments received by Lessor or Lessee from such
Government Entity will be paid over to or retained by Lessee. If a Default or Event of Default has occurred and is continuing, all payments received by Lessee or Lessor from such Government Entity may be used by Lessor to satisfy any obligations
owing by Lessee. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 73(138) 

	17.9	Temporary or Cautionary Detention or Securement 

 If the Aircraft, Airframe, any Engine or the APU or any other Part is secured by the order of any administrative, judicial or labor authority, Lessee will promptly notify Lessor of such detention or
securement and all of Lessee’s obligations hereunder will continue as if such detention or securement had not occurred. Lessee shall at its sole cost and expense conduct all actions, and take all steps as may be necessary or desirable before
any administrative and judicial authorities or entities including assisting Lessor as it shall be necessary in the filing and defense of a terceria or any similar or equivalent procedure or judicial incident in order to promptly remove such
detention or securement and to demonstrate the ownership rights of Lessor in respect to the Aircraft, the Airframe any Engine or the APU or any other Part. 

  
 74(138)

	18.	REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSEE 

  

	18.1	Representations and Warranties 

 Lessee represents and warrants that it has the free and unconditioned intention to enter into the terms of this Lease and it further represents and warrants the following to Lessor as of the date of
execution of this Lease and as of the Delivery Date: 
  

	18.1.1	Corporate Status. Lessee is a company duly formed, validly existing and in good standing under the Laws of Mexico. It has the power and authority, corporate or
otherwise, to carry on its business as presently conducted and to perform its obligations hereunder. 

  

	18.1.2	Capacity of Representatives. Lessee’s representatives have been vested with the sufficient capacities to enter into this Lease and to cause Lessee to be
obligated by and subject to the terms of this Lease and such capacities have as of this date not been revoked, modified or limited in any form. 

  

	18.1.3	Governmental Approvals. Except for such approvals and permits that Lessee has already obtained and for such filings that Lessee has already conducted in
accordance with this Lease, no other authorization, approval, consent, license or order of, or registration with, or the giving of notice to the Aviation Authority or any other Government Entity is required for the valid authorization, execution,
delivery and performance by Lessee of this Lease or Lessee’s obligations hereunder. 

  

	18.1.4	Binding. Lessee has all necessary authority and approvals to enter into and perform its obligations under each of the Operative Documents. This Lease and the
other Operative Documents have been duly executed and delivered by Lessee through its duly authorized representatives and represent the valid and binding obligations of Lessee, enforceable in accordance with their terms except as enforceability may
be limited by concurso mercantil, bankruptcy, judicial recuperation, insolvency, reorganization or other Laws of general application affecting the enforcement of creditors’ rights. 

 

	18.1.5	No Breach. The execution and delivery of the Operative Documents, the consummation by Lessee of the transactions contemplated herein and compliance by Lessee
with the terms and provisions hereof do not and will not contravene any Law applicable to Lessee, or result in any breach of or constitute any default under or result in the creation of any Security Interest upon any property of Lessee, pursuant to
any indenture, mortgage, chattel mortgage, deed of trust, conditional sales contract, bank loan or credit agreement, corporate charter, bylaw or other agreement or instrument to which Lessee is a party or by which Lessee or its properties or assets
may be bound or affected. 

  
 75(138)

	18.1.6	Filings. Except for the filings conducted by Lessee in accordance with Section 13 of this Lease, no filing or recording of any instrument or document
(including the filing of any financing or similar statement or mortgage) is necessary under the Laws of the State of Registration in order to preserve, protect and perfect all of the right, title and interest of Lessor and each Lessor’s Lender
in the Aircraft and this Lease and for this Lease to constitute a valid, binding and perfected lease of record relating to the Aircraft. 

  

	18.1.7	Translation or Notarization. Except for the Spanish translation of the Lease and any other Operative Documents which needs to be made by a translation expert
listed as such by the Superior Tribunal of Justice of the Federal District of Mexico or by the Council of the Federal Judicature and which are required to be filed in Mexico as provided in Section 13 of this Lease and which will be required for
any applicable purpose conducted before any administrative or judicial authorities in Mexico, and except for the signatures of the parties that will accordingly need to be ratified by a Mercantile Broker or Notary Public, in Mexico, neither the
Lease nor any other Operative Document needs to be translated, notarized, legalized, apostilled or consularized as a condition to the legality, validity, filing, enforceability or admissibility in evidence thereof. 

 

	18.1.8	Licenses. Lessee holds all licenses, certificates and permits from applicable Government Entities in Mexico for the conduct of its business as a certificated air
carrier and performance of its obligations under this Lease. 

  

	18.1.9	No Suits. There are no suits, arbitrations or other proceedings pending or to Lessee’s knowledge threatened before any court or administrative agency
against or affecting Lessee which, if adversely determined, would have a material adverse effect on Lessee’s ability to perform its obligations hereunder. 

 

	18.1.10	No Restrictions on Payments. To the extent that the payment obligations of Lessee shall be required to be complied outside of Mexico, under the Laws of Mexico,
nothing prevents Lessee from making payments required by this Lease in the currency of payment required pursuant to this Lease. 

  

	18.1.11	 Import Duties. Lessee shall have paid prior to Delivery, all import duties, if any, and any other Taxes and costs that may be payable in
connection with the importation and/or customs clearance of the Aircraft into Mexico and shall have obtained from the Customs Authority and shall maintain in force the importation petition (pedimento) or the corresponding authorization from
the Customs Authorities required to be obtained and/or maintained in order to permit the import of the Aircraft into Mexico and to obtain the benefit of any 

  
 76(138)

	 	
and all exemptions from payment of or reductions in import duties with which it shall comply for the duration of this Lease in accordance with the term permitted by the corresponding exemptions
or temporary importation regimes contemplated in the Customs Law of Mexico. 

  

	18.1.12	General Obligations. The obligations of Lessee under this Lease are direct, general and unconditional obligations of Lessee and rank or will rank at least pari
passu with all other present and future unsecured and unsubordinated obligations (including contingent obligations) of Lessee, with the exception of such obligations as are mandatorily preferred by Law. 

 

	18.1.13	No Sovereign Immunity. Lessee, under the Laws of Mexico or of any other jurisdiction affecting Lessee, is subject to private commercial law and suit. Neither
Lessee nor its properties or assets is entitled to sovereign immunity under any such Laws. Lessee’s performance of its obligations hereunder constitutes commercial acts done for commercial purposes. 

 

	18.1.14	Tax Returns. All returns required to be completed and delivered by Lessee have been delivered by Lessee to all relevant taxation authorities in the jurisdiction
of its incorporation and any other relevant jurisdiction and Lessee has paid or caused to be paid any and all Taxes due and payable to such taxation authorities other than such Taxes as are being contested by Lessee in good faith by appropriate
proceedings and in respect of which adequate reserves have been made or set aside by Lessee in accordance with the Financial Information Norms “Normas de Información Financiera” (NIF) applicable to Lessee or as required by Law and
which proceedings do not involve any risk of loss, seizure, securement (cautionary, temporary or otherwise), forfeiture or confiscation of the Aircraft nor the imposition of any civil or criminal penalty on Lessor, Lessee or any Lessor’s
Lender. 

  

	18.1.15	No Party to Labor Proceedings. Lessee is not a party to any labor proceedings and shall immediately notify Lessor in respect to any labor related conflict
existing between Lessee and its workers, with the understanding that by being the property of the Lessor, neither the Aircraft, the Airframe, any Engine, the APU nor any Part thereof can be subject of securement, trusteeship, deposit, lien,
invasion, or seizure by the workers whether or not such act is the result of an order from the competent labor authorities, and Lessee shall immediately take all steps to defend and promptly release the Aircraft, the Airframe, any Engine, the APU or
any Part thereof from any such securement, trusteeship, deposit, lien, invasion or seizure. 

  

	18.1.16	No Material Adverse Effect. Lessee is not in default under any agreement to which it is a party or by which it may be bound which would have a material adverse
effect on Lessee’s ability to perform its obligations hereunder. 

  
 77(138)

	18.1.17	No Default or Event of Default under this Lease. At the time of execution of this Lease, no Default or Event of Default has occurred and is continuing and the
financial statements provided to Lessor pursuant to Article 20 have been prepared in accordance with Financial Information Norms “Normas de Información Financiera” (NIF), and fairly present the financial condition of Lessee
with respect to the period covered thereby. 

  

	18.1.18	Solvency and Licit Origin of Funds. Lessee is solvent and the monies with which it shall fulfill its payment obligations under this Lease shall be owned by the
Lessee and obtained from licit sources. 

  

	18.1.19	Compliance with Laws. On the date of execution of this Lease and throughout the duration of the same, Lessee shall be in compliance with (i) all obligations
binding upon Lessee arising from any material agreements to which it shall be a party; and (ii) all Laws applicable to Lessee. 

  

	18.1.20	Sufficiency of Information. All information and documentation provided by Lessee to Lessor under this Lease is true and correct in all respects, and such
information does not fail to state any material fact which failure would render such information misleading. 

  

	18.1.21	Insurance. Lessee is in compliance with any requirements under the Purchase Agreement to carry insurance in connection with Lessor’s assignment of
Manufacturer’s warranties and product support to Lessee. 

  

	18.2	Covenants 

 Lessee
covenants to Lessor that it will comply with the following obligations throughout the Lease Term: 
  

	18.2.1	Import Duties. Upon Lessor’s request, but not more frequently than once a year unless a Default or Event of Default has occurred and is continuing Lessee
will provide documentary evidence in form and substance satisfactory to Lessor that any import duties or Taxes have been paid to, are not applicable or have been exempted by the relevant Government Entities. 

 

	18.2.2	Licensing. Lessee will hold all licenses, certificates and permits from applicable Government Entities in Mexico required for the conduct of its business as a
certificated air carrier and performance of its obligations under this Lease. Lessee will advise Lessor within one (1) Business Day in the event any such licenses, certificates or permits are cancelled, terminated, revoked or not renewed.

  

	18.2.3	 Payments. If at any time any restrictions may be applicable, Lessee will obtain all certificates, licenses, permits, exemptions and other
authorizations which 

  
 78(138)

	 	
are from time to time required for the making of the payments required by this Lease on the dates and in the amounts and currency which are stipulated herein, and will maintain the same in full
force and effect for so long as the same are required. 

  

	18.2.4	Sovereign Immunity. Lessee, under the Laws of Mexico or of any other jurisdiction affecting Lessee, will continue to be subject to private commercial law and
suit. Neither Lessee nor its properties or assets will be entitled to sovereign immunity under any such Laws. Lessee’s performance of its obligations hereunder will constitute commercial acts done for commercial purposes. Lessee will advise
Lessor promptly of any change in the foregoing. 

  

	18.2.5	Information about Suits. Lessee will promptly give to Lessor notice in writing of any suit, arbitration or proceeding before any court, administrative agency or
Government Entity which, if adversely determined, would materially and adversely affect Lessee’s ability to perform under this Lease. 

  

	18.2.6	Information about Labor Proceedings. Lessee shall promptly give to Lessor notice in writing upon commencement of any labor proceedings before any board of
conciliation and arbitration, local or federal which, if adversely determined, could materially affect Lessee’s financial condition and its ability to perform under this Lease or could potentially affect any of the assets leased by Lessee,
including the Aircraft, the Airframe, any Engine, the APU or any Part thereof. Likewise, Lessee shall notify any such authorities, as applicable, upon commencement of any such proceedings or when otherwise requested by Lessor, that the Aircraft, the
Airframe, any Engine, the APU or any Part thereof are not owned by Lessee and do not conform any part of its assets. 

  

	18.2.7	Restrictions on Mergers. Except as set forth below, Lessee will not sell, convey or otherwise dispose of all or substantially all of its property and assets or
merge or consolidate with or into or be acquired by any other Person without the prior written consent of Lessor, such consent not to be unreasonably withheld. In evaluating any proposed merger, consolidation, sale or other conveyance, Lessor shall
not unreasonably withhold its consent provided that (i) no Default or Event of Default under the Lease or any other agreement between Lessee or the acquirer with Lessor or an affiliate of Lessor or Lessor’s Lender has occurred and is then
continuing or would occur as a result of the merger, consolidation, acquisition, sale or conveyance, as applicable; (ii the surviving entity or acquirer shall have agreed in writing, in form and substance acceptable to Lessor, to assume, be
bound by and perform all obligations of “Lessee” under the Lease; and (iii) the acquirer or surviving entity shall not be domiciled or directly or indirectly owned (in whole or in part) or controlled by any individual or entity with
which Lessor is prohibited from doing business under applicable Law. 

  
 79(138)

 No consent shall be required from Lessor for any merger, consolidation, acquisition, sale or
other conveyance, if (a) Lessee shall be the surviving entity of a merger, the consolidated entity or the acquirer, as applicable and (b) the resulting entity, has, at the time of such merger consolidation, sale or conveyance and
immediately after giving effect thereto, a credit standing as good as or better than that of Lessee and a net worth at least equal to that of Lessee immediately prior to such merger, consolidation, acquisition, sale or conveyance, or (c) solely
among Lessee’s current stockholders. 
 No consent shall be required from Lessor for Lessee’s acquisition of any
interest in any corporate entity provided that such acquisition does not result in a material adverse change in the financial condition of Lessee. 
 Nothing herein shall be deemed to prevent Lessee or any affiliate of Lessee from engaging in a bona fide public offering of its securities to the general public or a private placement of any such
securities as the same may at any time or from time to time be approved by its directors or shareholders. 
  

	18.2.8	Restriction on Relinquishment of Possession. Lessee will not, without the prior consent of Lessor, deliver, transfer or relinquish possession of the Aircraft
except in accordance with the provisions of this Lease. 

  

	18.2.9	No Security Interests. Lessee will not create or agree to or permit to arise any Security Interest (other than Permitted Liens) on or with respect to the
Aircraft, title thereto or any interest therein and Lessee will forthwith, at its own expense, take all action as may be necessary to discharge or remove any such Security Interest if it exists at any time. Lessee will within twenty-four (24)
hours after becoming aware of the existence of any such Security Interest give written notice thereof to Lessor. 

  

	18.2.10	Representations to Other Parties. Lessee will not represent or hold out Lessor as carrying goods or passengers on the Aircraft or as being in any way connected
or associated with any operation of the Aircraft. 

  

	18.2.11	Corporate Purpose, Operations, Existence. Lessee shall conduct its corporate purpose in continuing and consistent form, in accordance with prudent industry
practices; it shall obtain and maintain all acts including all preservation acts that are necessary in relation with the concessions, permits, licenses or approvals that it currently holds or which it may hold in the future, within the constrains
and for the fulfillment of its corporate purpose. 

  
 80(138)

	19.	REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSOR 

  

	19.1	Representations and Warranties 

 Lessor represents and warrants that it has the free and unconditioned intention to enter into this Lease and it further represents and warrants the following to Lessee as of the date of execution of the
Lease and as of the Delivery Date and ALL OTHER WARRANTIES, EXPRESS OR IMPLIED HAVE BEEN WAIVED IN ACCORDANCE WITH ARTICLE 7: 
  

	19.1.1	Status. Lessor is a limited liability company, duly established, validly existing and in good standing under the Laws of Mexico. It has the power and authority,
corporate or otherwise, to carry on its business as presently conducted and to perform its obligations hereunder. 

  

	19.1.2	Capacity of Representatives. Lessor’s representatives have been vested with the sufficient capacities to enter into agreements and to cause Lessor to be
obliged and subject to the terms of this Lease and such capacities have as of this date not been revoked, modified or limited in any form. 

  

	19.1.3	Governmental Approvals. Except for the approval required from the Ministry of Finance “Secretaría de Hacienda” no authorization, approval,
consent, license or order of, or registration with, or the giving of notice to any Mexican Government Entity is required for the valid authorization, execution, delivery and performance by Lessor of this Lease. 

 

	19.1.4	Binding. This Lease and the other Operative Documents have been duly authorized, executed and delivered by Lessor and represent the valid and binding obligations
of Lessor, enforceable in accordance with their terms except as enforceability may be limited by bankruptcy, insolvency, reorganization or other Laws of general application affecting the enforcement of creditors’ rights.

  

	19.1.5	No Breach. The execution and delivery of the Operative Documents, the consummation by Lessor of the transactions contemplated herein and compliance by Lessor
with the terms and provisions hereof do not and will not contravene any Law applicable to Lessor, or result in any breach of or constitute any default under any indenture, mortgage, chattel mortgage, deed of trust, conditional sales contract, bank
loan or credit agreement, corporate charter, bylaw or other agreement or instrument to which Lessor is a party or by which Lessor or its properties or assets may be bound or affected. 

  
 81(138)

	19.1.6	Title to Aircraft. On the Delivery Date Lessor will have good and valid title to the Aircraft free and clear of liens other than Lessor’s Liens.

  

	19.1.7	Net Worth. Lessor has a tangible net worth of no less than ***** 

  

	19.2	Covenant of Quiet Enjoyment 

 With effect from the Delivery Date and throughout the Lease Term and provided that, at any relevant time, no Event of Default has occurred and is continuing hereunder, Lessor covenants and agrees that,
neither Lessor nor any Person lawfully claiming through Lessor will interfere with Lessee’s quiet, peaceful use and possession of the Aircraft under and in accordance with the terms of the Lease. Lessor further agrees that, unless at any
relevant time there shall exist an Event of Default, Lessor will procure that any Person taking title to or a Security Interest in the Aircraft granted by Lessor during the Lease Term shall provide to Lessee a covenant of quiet enjoyment similar to
that set forth in the immediately prior sentence. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 82(138) 

	20.	FINANCIAL AND OTHER INFORMATION 

 Lessee
agrees to furnish each of the following to Lessor: 
  

	(a)	Quarterly Statements. As soon as practicable after the end of the first, second, and third quarterly fiscal periods in each fiscal year of Lessee, and in any
event within sixty (60) days thereafter, duplicate or copies of the following statements which can be non-audited: 

  

	 	(i)	a consolidated balance sheet of Lessee as at the end of such quarter, 

  

	 	(ii)	consolidated statements of income and retained earnings of Lessee for such quarterly period, and 

 

	 	(iii)	consolidated statements of cash flow of Lessee for the portion of the fiscal year ending with said quarter, 

all in Spanish with an English language translation promptly after the same is available. 

 

	(b)	Annual Statements. As soon as practicable after the end of each fiscal year, and in any event within one hundred twenty (120) days thereafter, of:

  

	 	(i)	a consolidated balance sheet of Lessee as at the end of such year, and 

  

	 	(ii)	consolidated statements of income and retained earnings and of cash flow of Lessee for such year, prepared in accordance with Financial Information Norms or
“Normas de Información Financiera” (NIF) (except as set forth in the auditor’s opinion) accompanied by an auditor’s report of a firm of independent certified public accountants of recognized standing in Mexico (which
report may be adverse, qualified or disclaim an opinion), 

 all in Spanish with an English
language translation promptly after the same is available. 
  

	(c)	Public Statements. Promptly after distribution, duplicate copies, accompanied with an English translation, of all reports and financial statements, which Lessee
sends or makes available to its stockholders or creditors. 

  

	(d)	Other Information. From time to time, such other information, accompanied with an English translation, as Lessor or Lessor’s Lender may reasonably request
concerning the location, condition, use and operation of the Aircraft or the financial condition of Lessee which Lessee can disclose without violating any securities or similar laws or any contractual obligation of confidentiality.

  

	(e)	Notwithstanding the foregoing, if at any time Lessee or Lessee’s Parent shall be required to file or otherwise furnish audited financial statements as required in
(a) and (b) above to any Government Entity of the State of Registration or of 

  
 83(138)

	 	
the United States in connection with any public offering of securities and such financial statements become available in compliance with applicable Law and at no charge to Lessor on the Internet,
the filing or furnishing of the same by Lessee to such Government Entity shall be deemed to satisfy the requirements of Articles 20(a) and 20(b). 

  
 84(138)

	21.	RETURN OF AIRCRAFT 

  

	21.1	Date of Return 

 Lessee is
obligated to return the Aircraft, Engines, APU, Parts and Aircraft Documentation to Lessor on the Expiration Date, unless a Total Loss of the Aircraft occurred prior to the Expiration Date and this Lease was terminated early in accordance with
Article 17.3. If an Event of Default occurs hereunder by Lessee failing to return the Aircraft on the Expiration Date or if an Event of Default occurs prior to or after the Expiration Date and Lessor repossesses the Aircraft, the return
requirements set forth in this Article 21 nonetheless must be met on the date the Aircraft is actually returned to Lessor or repossessed by Lessor. 
  

	21.2	Last Engine Shop Visits 

With respect to the last Engine shop visit of an Engine prior to return of the Aircraft, Lessee will submit to Lessor at least
thirty (30) days in advance the intended work scope of such shop visit for approval. If Lessor requests, Lessee will perform additional work at such shop visit at Lessor’s cost, provided however, that no such additional work shall require
Lessee to remove any Engine from revenue service at a date earlier than the date it would have done so in the absence of such requested additional work and further provided, that such additional work and the performance thereof will not cause a
delay in redelivery, a delay in the occurrence of the Termination Date or interfere with the relevant maintenance providers operations or completion of the required shop visit. 

 

	21.3	Technical Report 

 Six
(6) months prior to the Expiration Date (and in an updated form at return of the Aircraft), Lessee will provide Lessor with a Technical Evaluation Report in the form and substance of Exhibit I, as revised, and, in addition upon
Lessor’s request, will make copies available of: 
  

	 	(a)	drawings of the interior configuration of the Aircraft both as it presently exists and as it will exist at return; 

 

	 	(b)	an Airworthiness Directive status list; 

  

	 	(c)	a service bulletin incorporation list; 

  

	 	(d)	a complete component installed listing, to include notable, on-condition, condition monitored, hard time and life limited component listings; 

 

	 	(e)	a complete list of Modifications and alterations, including those initiated by Lessee; 

 

	 	(f)	interior material burn certificates; 

  

	 	(g)	the Maintenance Program for the Aircraft; 

  
 85(138)

	 	(h)	the complete work scope for the checks, inspections and other work to be performed prior to return; 

 

	 	(i)	a forecast of the checks, inspections and other work to be performed within twenty-four (24) months after return of the Aircraft; 

 

	 	(j)	a list of all no charge service bulletin kits with respect to the Aircraft which were ordered by Lessee from Manufacturer or the Engine manufacturer;

  

	 	(k)	current Engine disk sheets and a description of the last shop visit for each Engine; and 

 

	 	(l)	any other data which is reasonably requested by Lessor. 

  

	21.4	Return Location 

 Lessee
at its expense will return the Aircraft, Engines, APU, Parts and Aircraft Documentation to Lessor either at Toluca Airport, Mexico or, if the TACA-Aeroman maintenance facility performs the final redelivery-related engineering work, at El Salvador
International Airport, El Salvador, or at a commercial airport in the continental U.S. mutually agreed by Lessee and Lessor, or at such other location as may be mutually agreed in writing by Lessee and Lessor. At Lessor’s request and expense
and subject to flight crew availability, Lessee will ferry the Aircraft to such location in the U.S. as Lessor may designate. 
  

	21.5	Full Aircraft Documentation Review 

 For the period commencing no later than ten (10) Business Days prior to the proposed redelivery date and continuing until the date on which the Aircraft is returned to Lessor in the condition
required by this Lease, Lessee will provide for the review of Lessor and/or its assigned representative(s) the Aircraft and all of the Aircraft Documentation in one central location with reasonable office space including reasonable access to
telephone, photocopy, fax and internet connections at the Aircraft return location. 
  

	21.6	Copy of Lessee’s Maintenance Program 

 At return of the Aircraft and for use by Lessor only for the purpose of bridging the Aircraft from Lessee’s Maintenance Program to the maintenance program of the next operator, Lessee will provide
Lessor with a copy of such relevant portions of the Maintenance Program as are necessary for such bridging. 
  

	21.7	Aircraft Inspection 

  

	21.7.1	 During the maintenance checks performed immediately prior to the proposed redelivery and at the actual return of the Aircraft, Lessor and/or its
assigned representatives will have an opportunity to conduct a systems functional and operational inspection of the Aircraft (and other types of inspections based upon the Aircraft type, age, use and other known factors with respect to the

  
 86(138)

 
Aircraft) and a full inspection of the Aircraft Documentation (including records and manuals), all to Lessor’s satisfaction. Any deficiencies from the Aircraft return condition requirements
set forth in this Article 21 will be corrected by Lessee at its cost prior to the acceptance flight described in Article 21.7.1. 
  

	21.7.2	Immediately prior to the proposed redelivery of the Aircraft, Lessee will carry out for Lessor and/or Lessor’s assigned representatives an Aircraft acceptance
flight in accordance with Manufacturer’s standard flight operation check flight procedures or, if agreed to in writing by Lessor, in accordance with an airline acceptance flight procedure, either of which will be for the duration necessary to
perform such check flight procedures, which is expected not to exceed two (2) hours, and with a maximum of four (4) Lessor’s assigned representatives on board. Flight costs and fuel will be furnished by and at the expense of Lessee.
Any deficiencies from the Aircraft return condition requirements set forth in this Article 21 will be corrected by Lessee at its cost prior to return of the Aircraft. 

 

	21.7.3	To the extent that the ground inspection and acceptance flight extend beyond the Expiration Date other than as a result of Lessor’s or its representatives’
wilful misconduct or breach of its obligations under this Lease, the Lease Term will be deemed to have been automatically extended and the obligations of Lessee hereunder (including Article 21.14.3) will continue on a day to day basis until the
Aircraft is accepted by Lessor executing the Return Acceptance Receipt in the form of Exhibit G. 

  

	21.8	FAA or EASA Compliant 

  

	21.8.1	No later than four (4) months prior to the scheduled induction date of the Aircraft for the last maintenance visit prior to return of the Aircraft, Lessor will
notify Lessee in writing whether the Aircraft at return must be in compliance with the rules and regulations of the FAA or the EASA as set forth in this Article 21. If the cost for complying with the rules and regulations of the EASA would
exceed the cost for complying with the rules and regulations of the FAA, such excess cost shall be borne by Lessor, except any cost in relation to items that Lessee would, in the absence of Lessor’s election pursuant to this
Article 21.8.1, nonetheless be required to comply with pursuant to applicable rules and regulations of the EASA at its own cost under any other provision under this Lease. 

Absent of a written notice from Lessor as provided above, the Aircraft at return will be in compliance with the rules and regulations as
set forth under FAA FAR Part 129. 
  

	21.8.2	 In the event that Lessor requests Lessee to comply with the applicable rules and regulations of EASA for the return of the Aircraft to Lessor after the
time period specified above, Lessee hereby agrees that it will use its commercially reasonable efforts to obtain the necessary kits and materials required for such purpose. To the extent that any such kits or materials are unavailable from the

  
 87(138)

	 	
Manufacturer or the corresponding manufacturers or distributors thereof, as applicable, or in a form that shall impede the installation of such kit as required by EASA rules and regulations
within the specified period, both parties shall negotiate in good faith for the solution of the delay or for the deferral of the corresponding kit installation, as applicable. 

 

	21.9	Certificate of Airworthiness Matters 

 The Aircraft will possess a current standard Certificate of Airworthiness, issued by the Aviation Authority. In addition, even if Lessee must perform engineering, maintenance and repair work on the
Aircraft beyond the requirements of Article 11, the Aircraft at return must be in the condition required in order to meet the requirements for issuance of a Certificate of Airworthiness for transport category aircraft issued by the Aviation
Authority and either by the FAA in accordance with FAR Part 21 or by EASA Part 21, as applicable, and, in addition, to be immediately eligible to be placed on the operating certificate of an airline in accordance with Part 129 of the
FARs or (EASA) JAR Ops 1 or its equivalent, as applicable. 
  

	21.10	General Condition of Aircraft at Return 

  

	21.10.1	The Aircraft, Engines, APU and Parts will have been maintained and repaired throughout the Lease Term in accordance with this Lease, the Maintenance Program and the
rules and regulations of the FAA FAR Part 129, to the extent that such compliance shall not be in conflict with the equivalent rules and regulations from the Aviation Authority. 

 

	21.10.2	Aircraft Documentation (including records and manuals) will have been maintained in an up-to-date status and in the English language, in accordance with this Lease and
the rules and regulations of the Aviation Authority and either the FAA or the EASA, as applicable, and in a form necessary in order to meet the requirements of Article 21.8. If Lessee subscribes to Manufacturer’s online data access
services, Lessee must nonetheless return the Aircraft manuals with all current revisions provided by Manufacturer in CD or other format acceptable to Lessor. 

 

	21.10.3	The Aircraft will be in the same working order and condition as at Delivery (subject to the other provisions of this Article 21, reasonable wear and tear from
normal flight operations accepted), with all pilot discrepancies and deferred maintenance items cleared on a terminating action basis where terminating action has been approved. 

 

	21.10.4	The Aircraft will be airworthy (conform to type design and be in a condition for safe operation), with all Aircraft equipment, components and systems operating in
accordance with their intended use and within limits approved by Manufacturer and the Aviation Authority and either the FAA or the EASA, as applicable. 

  
 88(138)

	21.10.5	The Aircraft interior (including cabin and windows) and exterior will be clean and cosmetically acceptable to Lessor acting reasonably with all compartments free of
foreign objects, dirt, grease, fluids, stains, grime, cracks, tears and rips and ready to be placed into immediate commercial airline operations. 

  

	21.10.6	The Aircraft will be in the same configuration as at Delivery or, if Lessor agrees, in Lessee’s then-current A319 configuration applicable to the majority of its
fleet. 

  

	21.10.7	No special or unique Manufacturer, Engine manufacturer, Aviation Authority, FAA or EASA inspection or check requirements which are specific to the Aircraft or Engines
(as opposed to all aircraft or engines of their types) will exist with respect to the Airframe, Engines and Aircraft equipment, components and systems. 

  

	21.10.8	All Modifications and alterations to the Aircraft will have been accomplished in accordance with the Aviation Authority and FAA approved data. 

 

	21.10.9	The Aircraft will be returned with Lessor’s Engines and APU installed and with the same equipment as at Delivery, subject only to those replacements, additions and
Modifications permitted under this Lease. To the extent Lessee performed a Modification which cost in excess of ***** and Lessor did not approve such Modification in accordance with Article 11.8.1, Lessor may require Lessee, at Lessee’s
cost, to return the Aircraft in its original condition prior to such Modification. 

  

	21.10.10	All Airworthiness Directives which are issued prior to the date of return of the Aircraft and require compliance (either by means of repetitive inspections,
modifications or terminating action) prior to return of the Aircraft to Lessor or within One Hundred Eighty (180) days after the Termination Date will have been complied with on the Aircraft on a terminating action basis at Lessee’s cost.
Such Airworthiness Directives which do not have a terminating action, or where no terminating action is available, will be accomplished at the highest level of inspection or modification possible. 

 

	21.10.11	The Aircraft will be in compliance with Manufacturer’s Corrosion Prevention and Control Program (CPCP) specified for the model type by Manufacturer with such tasks
being accomplished no less frequently than each “C” Check interval. Also, for the avoidance of doubt, all structural sampling inspection tasks will be complied with on a ***** compliance basis and all structural sampling tasks due within
the standard respective interval as defined within the MPD will have been performed on the Aircraft by Lessee. 

  

	21.10.12	If any waivers, alternate means of compliance, dispensations, extensions or carry-overs with respect to Airworthiness Directives or other operating or maintenance
requirements are granted by the Aviation Authority or permitted by the Maintenance Program, Lessee at its sole cost and expense will nonetheless perform such Airworthiness Directives and other operating or maintenance requirements as if such waiver,
alternate means of compliance, dispensations or extensions did not exist. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 89(138) 

	21.10.13	The Aircraft will be free from any Security Interest except Lessor’s Liens and no circumstance will have so arisen whereby the Aircraft is or could become subject
to any Security Interest, including without limitation any right of detention or sale in favour of the Aviation Authority or any airport authority or any third parties including as such any current or former officers, employees, workers union of
Lessee. 

  

	21.10.14	All no charge vendor and Manufacturer’s service bulletin kits received by Lessee for the Aircraft but not installed thereon will be on board the Aircraft as cargo.
All no charge vendor and Manufacturer’s service bulletin kits ordered by Lessee but not yet received will, upon receipt by Lessee, be forwarded as instructed by Lessor. At Lessor’s request, Lessee will furnish free of charge to Lessor any
kits purchased as part of Lessee’s implementation of a service bulletin on its fleet of aircraft of the same type as the Aircraft but not yet installed on the Aircraft any lost or damaged kits shall be procured, replaced and delivered to Lessor
at the cost of Lessee. 

  

	21.10.15	The Aircraft will be free of any fuel, oil, hydraulic, pneumatic or system related leaks and any damage resulting therefrom. Any repairs of system related leaks or any
damage resulting therefrom will have been performed on a permanent basis in accordance with the applicable manufacturer’s instructions. 

  

	21.10.16	The Aircraft fluid reservoirs (including oil, oxygen, hydraulic and water) will be fully serviced and in good working condition and the waste tank serviced in
accordance with Manufacturer’s instructions. Fuel tanks will be at least as full as at Delivery. 

  

	21.11	Checks Prior to Return 

Immediately prior to return of the Aircraft to Lessor, Lessee at its expense will do each of the following: 

 

	21.11.1	Have performed, by an EASA or FAA, as applicable, approved repair station the next sequential zonal, systems and structural “C” check, the corresponding lower
checks (“A” and “B” or equivalent) and all associated routine and non-routine check task items will be accomplished and no deferred, special inspection or carryover items will exist, all in accordance with the MPD, sufficient to
clear the Aircraft for operation until the next sequential zonal, systems and structural check under the MPD (“C” or its equivalent, which in any event will not be less than twenty (20) months). Lessee will also weigh the Aircraft.
Any discrepancies revealed during such inspection will be corrected in accordance with Manufacturer’s maintenance and repair manuals or EASA or FAA, as applicable, approved data. 

 

	21.11.2	Perform an internal and external corrosion inspection of those tasks required in accordance with the MPD and which are required during the “C” check being
performed prior to redelivery and correct any discrepancies in accordance with the recommendations of Manufacturer and its structural repair manual. In addition, all inspected areas will be properly treated with corrosion inhibitor as recommended by
Manufacturer. 

  
 90(138)

	21.11.3	Remove Lessee’s exterior markings, including all exterior paint, by sanding the paint from the fuselage, empennage, wings and Engine cowlings, and clean, reseal,
refinish, prepare (including application of alodine or another corrosion inhibitor) and prime the surfaces to be painted, all in accordance with Manufacturer’s and paint manufacturer’s recommendations. Lessee will then repaint the Aircraft
in the next operator’s livery as specified by Lessor. If such next operator is not identified, Lessee will instead repaint the fuselage, empennage and Engine cowlings in white, with the wings and stabilizer repainted grey. Any painting will be
accomplished in such a manner as to result in a cosmetically acceptable (in accordance with industry practices) and uniformly smooth and aerodynamic surface. All mandatory external placards, signs and markings will be properly attached, free from
damage, clean and legible. Upon Lessor’s request, Lessee will affix at Lessor’s costs all additional placards provided by Lessor. 

  

	21.11.4	Clean the exterior and interior of the Aircraft in accordance with customary industry standards. 

 

	21.11.5	If reasonably required by Lessor, repaint by touch-up the interior of the Aircraft, including flight deck, and replace mandatory placards as necessary. Upon
Lessor’s request, Lessee will affix at Lessor’s costs all additional placards provided by Lessor. 

  

	21.11.6	All repairs to the Aircraft will have been accomplished in accordance with the Maintenance Program, Manufacturer’s structural repair manual (or EASA, French DGAC
or FAA approved data supported by Airbus Repair Approval Sheet (RAS), as applicable) for the Aircraft. All external structural repairs shall be accomplished with flush type repairs to the extent such flush repairs have been approved by the
Manufacturer, EASA or the FAA. Maximum effort to install flush type repairs will be accomplished, up to and including replacement of affected skin panels. All structural repairs will have been performed on a permanent basis (where permanent repairs
are available) in accordance with the applicable manufacturer’s instructions. If no permanent repairs are available, the repairs will be accomplished to the highest level possible. In addition, Lessee will supply to Lessor, all in form and
substance satisfactory to Lessor, (i) a repair map indicating the repairs accomplished on the Aircraft and the approved documentation used to accomplish such repairs, and (ii) a dent map, indicating all dents on the Aircraft, complete with
appropriate measurements, demonstrating that each dent is within the Manufacturer’s current structural repair manual limits, with their appropriate inspection data attached. 

 

	21.11.7	Following the successful completion of the demonstration flight performed by Lessee in accordance with Article 21.7.1 and with Lessor and/or its assigned
representatives present, Lessee will perform a full and complete hot and cold section videotape borescope on each Engine and its modules in accordance with the Engine manufacturer’s maintenance manual. 

  
 91(138)

	21.11.8	If the Engine historical and technical records and/or condition trend monitoring data of any Engine indicate an acceleration in the rate of deterioration in the
performance of an Engine, Lessee will correct, to Lessor’s satisfaction such conditions which are determined to be causing such accelerated rate of deterioration. 

 

	21.11.9	With Lessor and/or its assigned representatives present, accomplish a maximum power assurance run on the Engines in accordance with the Manufacturer’s Maintenance
manual 71-00-00 Test #11, as revised, to successfully demonstrate acceptable take-off parameters. Lessee will evaluate and Lessor will review the Engine performance details and record the Engine maximum power assurance test conditions and results on
the Return Acceptance Receipt. 

  

	21.11.10	Lessee will provide evidence to Lessor’s satisfaction that the Engine historical and technical records, borescope inspection, take-off and cruise trend monitoring
from the previous sixty (60) days operation and other checks specified in Article 21.11.9 do not reveal any condition which would cause the Engines or any module to be unserviceable, beyond serviceable limits or serviceable with an
increased frequency of inspection or with calendar time, flight hour or flight cycle restrictions under the Engine manufacturer’s maintenance manual. Lessee will correct any discrepancies in accordance with the guidelines set out by the Engine
manufacturer which may be discovered during such inspection. 

  

	21.11.11	In the event the Engine historical and technical records, borescope inspection, trend monitoring and other checks specified in Article 21.11.9 and 21.11.10 result
in a dispute regarding the conformity of an Engine with the requirements of this Article 21, Lessee and Lessor will consult with the Engine manufacturer and follow the Engine manufacturer’s recommendations (including the accomplishment of
an Engine test cell operational check) with regard to determining if such Engine complies with the requirements of this Article 21 and the manner in which any discrepancies from the requirements of this Article 21 will be rectified.

  

	21.11.12	With Lessor and/or its assigned representatives present, Lessee will perform a full and complete hot and cold section videotape borescope on the APU in accordance with
the APU manufacturer’s procedures. Lessee will provide evidence to Lessor’s satisfaction that the borescope inspection does not reveal any condition which would cause the APU to be unserviceable, beyond serviceable limits or serviceable
with an increased frequency of inspection or with calendar time, flight hour or flight cycle restrictions. Lessee will correct any discrepancies in accordance with the guidelines set out by the APU manufacturer which may be discovered during such
inspection. 

  
 92(138)

	21.11.13	If the APU historical and technical records and/or condition trend monitoring data indicate an acceleration in the rate of deterioration in the performance of the APU,
Lessee will correct, to Lessor’s satisfaction, such conditions which are determined to be causing such accelerate rate of deterioration. 

  

	21.12	Part Lives 

 At return,
the condition of the Aircraft will be as follows: 
  

	21.12.1	The Aircraft will have zero (0) hours consumed since the last zonal, systems and structural “C” check in accordance with the MPD (excluding hours
consumed on the acceptance flight). 

  

	21.12.2	Each Engine will meet all of the following: 

  

	 	(a)	Each Engine and each module thereof will have no more than Three Thousand (3,000) Flight Hours and One Thousand Five Hundred (1,500) Cycles consumed since its
last Engine Performance Restoration Shop Visit. 

  

	 	(b)	Each Engine and each Part of each Engine which has a life limit will not have operated more than One Thousand Five Hundred (1,500) Cycles since its last full disk
stack replacement. 

  

	 	(c)	Notwithstanding sub-sections (a) and (b) above, in case of a demonstrated unscheduled Engine removal, which will restrict Lessee’s ability to comply with
the provisions in such sub-sections, Lessor will consider discussing in good faith with Lessee on a case by case basis, whether it could accept each Engine (and each module thereof) having not more than Five Thousand (5,000) Flight Hours
consumed since its last Engine Performance Restoration Shop Visit and each life-limited part not having operated more than Two Thousand Five Hundred (2,500) Cycles since its last full disk stack replacement. 

 

	 	(d)	Engine documentation will show full traceability to birth for each listed LLP. 

 

	21.12.3	The APU will be in good operating condition within maintenance manual limitations and have zero (0) hours consumed (excluding hours consumed during the acceptance
flight) since the last Medium Repair or Heavy Repair in accordance with the manufacturer’s maintenance manuals (with any defects identified during such inspection corrected). APU documentation will show full traceability to birth for each
listed LLP. 

  
 93(138)

	21.12.4	The Landing Gear will have no more than Three (3) months utilization since its last Overhaul pursuant to the MPD. Landing Gear documentation will show full
traceability to birth for each listed LLP. 

  

	21.12.5	Each component or Part of the Airframe (except the Landing Gear) which has a hard time (hour/cycle or calendar) limit to Overhaul pursuant to the MPD will have not less
than Four Thousand Seven Hundred Fifty (4,750) Flight Hours, Two Thousand Seven Hundred Fifty (2,750) Cycles or Eighteen (18) months, whichever is the most limiting factor, remaining to operate until its next scheduled Overhaul
pursuant to the MPD. 

  

	21.12.6	Each LLP of the Airframe not already covered under this Article 21 will have fifty percent (50%) of the full allotment of hours and cycles of its total
approved life remaining to operate pursuant to the MPD. 

  

	21.12.7	Each component or Part which has a calendar limit, not already covered by this Article 21, will have remaining to operate at least (a) eighteen (18)
months from the date of return of the Aircraft to Lessor or (b) one hundred percent (100%) of its total approved life, whichever is less, pursuant to the MPD. 

 

	21.12.8	No Part of the Aircraft or Engine will have total hours and total cycles since new greater than one hundred twenty five percent (125%) of that of the Airframe and,
with respect to all Parts as a group, the Parts will have an average total time since new no greater than that of the Airframe. 

  

	21.12.9	Each Aircraft tire and each brake will be new or will have no more that 10 hours and 5 cycles and zero (0) recaps since new or Overhaul, as applicable.

  

	21.13	Export and De-registration of Aircraft 

 At Lessor’s request, Lessee at its cost will (a) provide a valid Certificate of Airworthiness, a ferry flight approval and any other requirement that be applicable from the State of Registration
so that the Aircraft can be exported to the country designated by Lessor other than to a Prohibited Country, (b) procure, consent in writing or assist with, as requested by Lessor, the de-registration of the Aircraft from the register of
aircraft in the State of Registration and, if applicable with Lessor and Lessor’s Lender giving any required consents, from the International Registry as provided by the Cape Town Convention, and (c) assist with arranging for prompt
confirmation of such de-registration to be sent by the registry in the State of Registration to the next country of registration. If any Aircraft work which Lessee is not otherwise required to perform hereunder, including engineering, is required in
order to obtain the required Certificate of Airworthiness or the Ferry Flight approval, Lessee will cause to be performed such work at Lessee’s maintenance performer’s facilities at Lessor’s cost based upon prevailing third party
rates. 

  
 94(138)

	21.14	Lessee’s Continuing Obligations 

 In the event that Lessee does not return the Aircraft to Lessor on the Expiration Date and in the condition required by this Article 21 for any reason other than as a result of an act or omission of
Lessor, Lessor’s Lender or the performance of additional work requested by Lessor: 
  

	21.14.1	The obligations of Lessee under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of
Lessee’s Event of Default or any right of Lessor hereunder. 

  

	21.14.2	Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to Lessor pursuant to this Lease.

  

	21.14.3	Lessee will fully indemnify Lessor on demand for all damages and prejudices including losses, liabilities, actions, proceedings, costs and expenses thereby suffered or
incurred by Lessor as a result of such failure and, in addition, until such time as the Aircraft is redelivered to Lessor and put into the condition required by this Article 21, instead of paying the Rent specified in Article 4.2, Lessee,
will pay (i) during the first fifteen (15) days, an amount equal to ***** of the amount of Rent specified in Article 4.2 and (ii) thereafter until the Termination Date, an amount equal to ***** of the amount of Rent specified in
Article 4.2, in each case calculated daily for each day from the scheduled Expiration Date until the Termination Date and prorated on the basis of a thirty (30) day month (without prejudice to Lessor’s other rights and remedies
hereunder). Payment will be made upon presentation of Lessor’s invoice. 

  

	21.14.4	Lessor may elect to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this Article 21 and thereafter have any such
non-conformance corrected at such time as Lessor may deem appropriate and at commercial rates then charged by the Person selected by Lessor to perform such correction. All actual costs and expenses incurred by Lessor for such correction will be
payable by Lessee within five (5) Business Days following the submission of a written statement by Lessor to Lessee, identifying the items corrected and setting forth such costs and the expenses of such corrections. Lessee’s obligation to
pay such amounts will survive the Termination Date. 

  

	21.15	Return Acceptance Receipt 

Upon return of the Aircraft in accordance with the terms of this Lease, Lessee will prepare and execute three (3) Return Acceptance
Receipts in the form and substance of Exhibit G and Lessor will countersign and return one such Return Acceptance Receipt to Lessee. 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 95(138) 

	21.16	Indemnities and Insurance 

The indemnities and insurance requirements set forth in Articles 15 and 16, respectively, will apply to Indemnitees and Lessor’s
assigned representatives during return of the Aircraft, including the ground inspection and acceptance flight. 
  

	21.17	Storage 

 At Lessor’s
request, Lessee will, at Lessor’s sole cost and expense, park and store the Aircraft in accordance with Manufacturer’s recommended short term storage program at Lessee’s principal maintenance facilities and maintain insurance on the
Aircraft (ground cover only) for a period not to exceed ninety (90) days after the Termination Date provided that (i) suitable facilities are available (ii) any payments required to be made in respect of such services shall be made by
Lessor in a timely manner and (iii) the same would not interfere with Lessee’s maintenance services providers scheduling. Lessee will not utilize the Aircraft for any reason during this period. 

  
 96(138)

	22.	ASSIGNMENT 

  

	22.1	No Assignment by Lessee 

NO ASSIGNMENT, NOVATION, TRANSFER, MORTGAGE OR OTHER CHARGE MAY BE MADE BY LESSEE OF ANY OF ITS RIGHTS OR OBLIGATIONS WITH RESPECT TO THE
AIRCRAFT, ANY ENGINE OR PART, OR THIS LEASE. 
  

	22.2	Sale or Assignment by Lessor 

  

	22.2.1	Subject to Lessee’s rights pursuant to and in conformity with the provisions of this Lease including without limitation this Article 22, Lessor may at any
time and without Lessee’s consent sell, assign or transfer its rights, interest and obligations hereunder or with respect to the Aircraft to a third party (“Lessor’s Assignee”). For a period of two (2) years after
Lessor’s sale or assignment and at Lessee’s cost, Lessee will continue to name the prior Lessor and the other Indemnitees as additional insureds under the Aviation and Airline General Third Party Liability Insurance specified in Exhibit
C. 

  

	22.2.2	In the event of the sale of the Aircraft and transfer of Lessor’s rights and obligations under and in conformity with the provisions of this Lease including
without limitation this Article 22, Lessor’s Assignee will become “Lessor” of the Aircraft under this Lease and the transferring party (the prior “Lessor”) will be relieved of all liability to Lessee under this
Lease for obligations arising on and after the date the Aircraft is sold in conformity with the provisions of this Lease. Lessee will acknowledge and accept Lessor’s Assignee as the new “Lessor” under this Lease and will look solely
to Lessor’s Assignee for the performance of all Lessor obligations and covenants under this Lease arising on and after such sale date of the Aircraft, provided Lessor’s Assignee and such sale or other transfer comply with the provisions of
this Article 22. 

  

	22.2.3	Wherever the term “Lessor” is used in this Lease in relation to any of the provisions relating to disclaimer, title and registration, indemnity and insurance
contained in Articles 7, 13, 15 and 16, respectively, or with respect to Article 18.2.10, the term “Lessor” will be deemed to include Lessor’s Assignee and Lessor’s Lender, if applicable and to the extent of their
respective interest. For avoidance of doubt, in the event of Lessor’s sale or financing of the Aircraft, the disclaimer and indemnity provisions contained in Articles 7 and 15 will continue to be applicable after the sale or assignment to
Arrendadora Financiera Inbursa, S.A. de C.V. Sociedad Financiera de Objeto Multiple, Entidad Regulada, Grupo Financiero Inbursa or any successors and permitted assigns thereof, as well as being applicable to Lessor’s Assignee from and after the
date when such Lessor’s Assignee shall become “Lessor” hereunder and to Lessor’s Lender for the period during which it was “Lessor’s Lender” hereunder. 

  
 97(138)

	22.3	Lessor’s Lender 

Subject to Lessee’s rights pursuant to this Lease, Lessor may at any time and without Lessee’s consent grant Security Interests
over the Aircraft and assign by way of security Lessor’s interest in the benefit of this Lease to one or more other lenders (each such entity, the “Lessor’s Lender”) as security for Lessor’s obligations to
Lessor’s Lender. 
  

	22.4	Lessee Cooperation 

 On
request by Lessor or Lessor’s Lender and subject to conformity with the requirements of this Article 22, Lessee will promptly execute all such documents (such as a lease assignment agreement and consent) as Lessor or Lessor’s Lender
may reasonably require to acknowledge any proper transfer of Lessor’s rights, title or interest in and to the Aircraft and/or this Lease and Lessee’s obligations in connection therewith and Lessee’s acknowledgment that Lessor is not
in breach of the Lease. Lessee will promptly provide all other reasonable assistance and cooperation to Lessor and Lessor’s Lender in connection with any proper sale or assignment or the perfection and maintenance of any such security interest,
including making all necessary filings and registrations in the State of Registration and providing all opinions of counsel with respect to matters requested by Lessor or Lessor’s Lender. 

 

	22.5	Change of Governing Law 

Lessor may, upon no less than 120 days prior written notice to Lessee, request that the governing law and jurisdiction of this Lease,
and any legal terms and provisions of this Lease which the parties shall agree or which would need to be adjusted in consideration of such change, be changed to the laws and courts of the State of New York in connection with the sale of
Lessor’s interest in the Aircraft, provided that Lessor reimburse Lessee for its reasonable costs and expenses (including reasonable legal fees and related expenses) in connection with or arising as a result of any such change in governing law
and jurisdiction. 

  
 98(138)

	22.6	Protections 

 Without
prejudice to Lessor’s rights under Article 23.3 following an Event of Default, Lessee’s obligations under this Article 22 are subject to the following requirements: 

 

	22.6.1	Lessor will obtain for the benefit of Lessee an acknowledgment from any Lessor’s Assignee or Lessor’s Lender that, so long as no Default or Event of Default
has occurred and is continuing hereunder, neither such Person nor any other Person lawfully claiming by or through such Person will interfere with Lessee’s quiet, peaceful use and enjoyment of the Aircraft. 

 

	22.6.2	No sale, assignment, transfer or other disposition of any right, title or interest of Lessor, and Lessor’s Assignee or any Lessor’s Lender in or to the
Aircraft and/or this Lease shall result in any additional obligations or liability (whether financial or otherwise) of Lessee nor will Lessee’s rights be reduced, restricted, limited or prejudiced as a result of any sale, assignment, transfer
or other disposition of the Aircraft or this Lease. No such sale, assignment, transfer or other disposition shall give rise (or could reasonably foreseeably give rise) to any Mexican withholding or other taxes on rentals whatsoever at the time of
transfer, unless Lessor’s Assignee is willing to accept rentals net of all such taxes and so confirms to Lessee in writing. 

  

	22.6.3	Any Lessor’s Assignee shall: 

  

	 	(a)	satisfy the requirements to maintain the registration of the Aircraft in the State of Registration; 

 

	 	(b)	have (or have its obligations guaranteed, pursuant to a guaranty agreement reasonably satisfactory to Lessee, by a guarantor that has) a tangible net worth of at least
*****; 

  

	 	(c)	assume all obligations of Lessor under this Lease; and 

  

	 	(d)	not be an airline, other commercial aircraft operator or freight forwarder or any affiliate of any thereof. 

Any transfer to a Person not meeting the requirements set forth in Article 22.6.3 shall be deemed a breach by Lessor of its covenant
of quiet enjoyment. 
  

	22.6.4	No sale, assignment, transfer or other disposition shall violate any applicable Law (including without limitations any securities laws of Mexico, the United States or
any other applicable jurisdiction). 

  

	22.6.5	 Notwithstanding anything to the contrary herein, Lessor shall be responsible for and pay to or as directed by Lessee, within ten (10) Business
days of written demand, Lessee’s reasonable fees, costs and expenses (including, without limitation, reasonable attorney’s fees) in connection with the sale, assignment, transfer or other disposition of any or all of its or any
Lessor’s Lender’s interest in, to or in respect of the Aircraft (any part thereof) or this Lease including without limitation, such fees, costs and expenses incurred in connection with Lessee’s performance of its obligations under
this Article 22, 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 99(138) 

	 	
any documentation, filings and registrations related to any such sale, assignment transfer or other disposition (including, without, limitation, any reasonable fees, costs and expenses arising as
a result of or in connection with any change in governing law). 

  
 100(138)

	23.	DEFAULT OF LESSEE 

  

	23.1	Lessee Notice to Lessor 

Lessee will promptly notify Lessor if Lessee becomes aware of the occurrence of any Default or Event of Default. 

 

	23.2	Events of Default 

 The
occurrence of any of the following will constitute an Event of Default and material breach of this Lease by Lessee: 
  

	 	(a)	Lessee fails to take Delivery of the Aircraft when obligated to do so under the terms of this Lease; 

 

	 	(b)	Lessee fails to make a Rent, Maintenance Fund or other scheduled payment due hereunder in the manner and by the date provided herein and fails to make such payment
within one (1) Business Day after such payment is due or fails to make any unscheduled payment within three (3) Business Days after such payment is due; 

 

	 	(c)	Lessee fails to obtain or maintain the insurance required by Article 16 (except where such insurance is unavailable for purchase by any airline and Lessee is
complying with the provision of Article 16.12); 

  

	 	(d)	Lessee fails to return the Aircraft to Lessor on the Expiration Date in accordance with Article 21; 

 

	 	(e)	Lessee fails to observe or perform any of its other obligations hereunder and fails to cure the same within ten (10) days after written notice thereof to Lessee.

  

	 	(f)	any representation or warranty of Lessee herein proves to be untrue in any material respect and in Lessor’s reasonable opinion the ability of Lessee to comply with
its obligations under the Operative Documents has been materially and adversely affected thereby; 

  

	 	(g)	the registration of the Aircraft is cancelled other than as a result of an act or omission of Lessor or Lessor’s Lender; 

 

	 	(h)	Lessee abandons or relinquishes control over the Aircraft or Engines; 

  

	 	(i)	Lessee or an approved sublessee no longer has unencumbered control (other than Permitted Liens) or possession of the Aircraft or Engines, except as otherwise permitted
by this Lease; 

  
 101(138)

	 	(j)	Lessee threatens or is found to be in danger to permanently (or temporarily, to the extent that Lessee’s ability to comply with its obligations under the Operative
Documents may in Lessor’s reasonable opinion be materially and adversely affected thereby) discontinue business or sells or otherwise disposes of all or substantially all of its assets; 

 

	 	(k)	Lessee no longer possesses any of the licenses, certificates and permits required for the conduct of its business as a certificated air carrier in Mexico or any of such
become revoked or suspended, and in each case, the same would adversely affect its ability to perform its obligations under the Operative Documents, and in case of a suspension, the suspension shall be for a period of more than thirty (30) days
provided that Lessee acts diligently to cure the situation immediately after such suspension shall occur; 

  

	 	(l)	Lessee fails to pay when due any Airport Charges or Air Navigation Charges assessed with respect to the Aircraft or any aircraft operated by Lessee which, if unpaid,
may give rise to any Security Interest in relation to the Aircraft, Engine, APU or any Part except if such amounts are being contested by Lessee in accordance with the provisions of Article 14.5 hereof; 

 

	 	(m)	Lessee suspends payment on, is unable to or admits its inability to pay, its debts or other obligations (i) in general as they fall due, (ii) on any single
obligation or debt for an amount equal to or in excess of *****, or (iii) in the aggregate for amounts equal to or in excess of *****; 

  

	 	(n)	Lessee or a substantial part of Lessee’s property is adjudicated or voluntarily or involuntarily becomes subject of a concurso mercantil, bankruptcy,
judicial recuperation, liquidation, reorganization or protection from creditors of Lessee, becomes bankrupt or insolvent in accordance with applicable Law, or Lessee proposes or enters into any composition or other arrangement for the benefit of its
creditors generally; and, in the case of any involuntary concurso mercantil or bankruptcy, the same is not dismissed or stayed within sixty (60) days, from the date of filing by the applicant. If instituted by Lessee, the same will be an
immediate Event of Default. If instituted by another Person, the same will be an Event of Default if not dismissed, remedied or relinquished within the period referred to above; 

 

	 	(o)	 any order, judgment or decree is entered by any court of competent jurisdiction appointing an interventor, administrator, receiver, trustee or
liquidator of Lessee or a substantial part of its property, or if a substantial part of Lessee’s property is to be sequestered or if its treasury or administration shall be intervened. If instituted by or done

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 102(138) 

	 	
with the consent of Lessee, the same will be an immediate Event of Default. If instituted by another Person, the same will be an Event of Default if not dismissed, remedied or relinquished within
thirty (30) days; 

  

	 	(p)	any indebtedness for borrowed moneys or a guarantee or similar obligation owed by Lessee with a single unpaid balance equal to or in excess of ***** or an aggregate
unpaid balance equal to or in excess of ***** or the equivalent in any other currency is declared due before its stated maturity or any judgment or judgments which, in the aggregate are in an amount equal to or in excess of ***** or the equivalent
in any other currency is rendered against Lessee and is not satisfied or bonded pending appeal within thirty (30) days of the date of entry thereof; or 

 

	 	(q)	Lessee is in default under any other lease or other agreement between Lessee and Lessor or a Lessor affiliate relating to aircraft, engines, aircraft equipment or the
extension of credit and the same is not cured within its specified cure period. 

  

	23.3	Lessor’s General Rights 

 Upon the occurrence of any Event of Default and for so long as the same shall remain unremedied, Lessor may either (i) terminate this Lease by delivering the corresponding notice to Lessee and
without the need for judicial intervention, or (ii) demand the mandatory fulfilment of the defaulted obligations of Lessee, at its option and, as applicable in each case, take the following actions and make the following demands (in addition to
such other rights and remedies which Lessor may have by statute or otherwise but subject to any requirements of applicable Law): 
  

	 	(a)	terminate the leasing of the Aircraft under this Lease by giving written notice to Lessee without judicial intervention; 

 

	 	(b)	terminate the rights of Lessee to use or operate the Aircraft by giving written notice to Lessee; 

 

	 	(c)	require that Lessee immediately cease flying the Aircraft and leave it parked in its then current location by giving written notice to Lessee; 

 

	 	(d)	require that Lessee immediately move the Aircraft to an airport or other location designated by Lessor and park the Aircraft there by giving written notice to Lessee;

  

	 	(e)	 take possession of the Aircraft and conduct any acts and obtain any orders that may be necessary for such purpose. Upon repossession of the Aircraft,
Lessor will then be entitled to sell, lease or otherwise deal 

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 103(138) 

	 	
with the Aircraft as if this Lease had never been made. Lessor will be entitled to the full benefit of its bargain with Lessee and may receive and retain any rentals and profits arising from any
such sale, lease or other dealing with the Aircraft; 

  

	 	(f)	for Lessee’s account, do anything that may be required to cure any Event of Default and recover from Lessee all damages and prejudices including all costs, legal
fees and expenses incurred in doing so and Default Interest; 

  

	 	(g)	proceed as appropriate to enforce performance of this Lease and to recover any damages for the breach hereof, including the amounts specified in Article 23.5;

  

	 	(h)	apply all or any portion of the Security Deposit and any other security deposits or Maintenance Funds held by Lessor pursuant to any other agreements between Lessor and
Lessee to any amounts due; and/or 

  

	 	(i)	apply any amounts paid or recovered in respect of Lessee’s liabilities under the Operative Documents to any of Lessee’s liabilities under the Operative
Documents in such proportion, order and manner as Lessor determines in its sole discretion. 

 Regardless of
Lessor’s exercise of any remedy or remedies, Lessee’s obligations under this Lease will continue (including, without limitation, the obligations set forth in Articles 15 and 16) until the same have been fully discharged in accordance
with the terms hereof. 
 When any circumstances shall occur resultant from which Lessee shall be required by Lessor to return
the Aircraft, the Airframe, any Engine, the APU or any Part thereof in accordance with the terms of this Lease or upon commencement by Lessor of any suit, claim or upon commencement of any controversy, judicial or otherwise, related with the
Aircraft, the rights of possession thereof or this Lease, the Lessee shall, for as long as it shall be in possession of the Aircraft, the Airframe, any Engine, the APU or any Part thereof, be considered as a gratuitous trustee (depositario)
of the Aircraft, the Airframe, any Engine, the APU or any Part thereof in accordance with the terms of the Second Volume, Title IV (Libro Segundo, Título IV), of the Commercial Code. For such purpose, Lessee hereby (i) expressly
waives any right to receive any compensation for its acts as trustee in accordance with this Lease, (ii) acknowledge that it shall not be entitled to the use or disposition of the Aircraft, the Airframe, any Engine, the APU or any Part thereof,
which will be maintained at the disposal of the Lessor, (iii) acknowledges that the Lessor will be under no obligation to indemnify, reimburse, or pay the Lessee the expenses in which, if any, Lessee shall incur for the conservation and
maintenance of the Aircraft, the Airframe, any Engine, the APU or any Part thereof in its capacity as trustee of the same, (iv) acknowledge that it shall have no right of detention of the Aircraft, the Airframe, any Engine, the APU or any

  
 104(138)

 
Part thereof and (v) accepts that it shall remain in custody of the Aircraft, the Airframe, any Engine, the APU or any Part thereof, at the disposal of Lessor, until the same has been
materially returned to the Lessor or all Events of Default have been cured and that, the same shall be returned to the Lessor in the location and in accordance to the instructions of Lessor as provided in this Lease. 

 

	23.4	De-registration and Export of Aircraft 

 If an Event of Default has occurred and is continuing, Lessor may take all steps necessary to terminate the lease, deregister the Aircraft, remove the Aircraft from the Operating Permit of Lessee and
export the Aircraft from the State of Registration and Lessee shall assist Lessor herewith in all respects. 
  

	23.5	Lessee Liability for Damages and Prejudices 

 If an Event of Default occurs, in addition to all other remedies available at Law or in equity and in addition to any other indemnities as provided in Article 15, Lessor has the right to recover from
Lessee and Lessee will pay Lessor within five (5) Business Days after Lessor’s written demand, all of the following: 
  

	 	(a)	all amounts which are then due and unpaid hereunder and which become due prior to the earlier of Lessor’s recovery of possession of the Aircraft or Lessee making
an effective tender thereof; 

  

	 	(b)	subject to Lessor’s obligation under Article 23.9, in the event that Lessor shall have re-leased or sold the Aircraft, Lessor may if it shall so elect, demand
that Lessee pay to Lessor any accrued but unpaid Rent up to and including the date of the commencement of the re-leasing or the date of sale plus the excess of: 

 

	 	(i)	the aggregate unpaid Rent for the Aircraft which would have otherwise have become due hereunder over the Lease Term but for the Event of Default discounted monthly to
present value (calculated in accordance with the amount set out in Article 23.7 of this Lease) as at the date of the commencement of the re-leasing, over 

 

	 	(ii)	in the case of re-leasing, the aggregate rental payments to become due under the re-leasing from the date of the commencement of the term of the re-leasing to the date
upon which the Lease Term for the Aircraft would have expired pursuant to this Lease but for the Event of Default, discounted monthly to present value (calculated in accordance with the amount set out in Article 23.7 of this Lease) as of the
date of commencement of the term of the re-leasing, or 

  
 105(138)

	 	(iii)	in the case of a sale, the aggregate fair market rental value of the Aircraft (as determined by a recognized independent aircraft appraiser chosen by Lessor) for a
period equal to the remainder of the Lease Term for the Aircraft, after discounting such fair market rental value to present value (calculated in accordance with the amount set out in Article 23.7 of this Lease) as at the date such valuation is
determined by the recognized independent aircraft appraiser; 

  

	 	(c)	all out-of-pocket costs in light of the circumstances incurred by Lessor in exercising its remedies hereunder, including but not limited to repossession costs, legal
fees, Aircraft storage costs, Aircraft re-lease or sale costs; 

  

	 	(d)	any amount of additional principal, interest, fees or other sums paid or payable on account of funds borrowed in order to carry any unpaid amount;

  

	 	(e)	subject to Lessor’s obligation under Article 23.9, any loss, cost, expense or liability sustained by Lessor due to Lessee’s failure to redeliver the
Aircraft in the condition required by this Lease; and 

  

	 	(f)	subject to Lessor’s obligation under Article 23.9, any other loss, damage, expense, cost or liability which Lessor suffers or incurs as a result of the Event
of Default and/or termination of this Lease, including an amount sufficient to fully compensate Lessor for any loss of or damage to Lessor’s residual interest in the Aircraft caused by Lessee’s default. 

 

	23.6	Waiver of Default 

 By
written notice to Lessee, Lessor may at its election waive any Default or Event of Default and its consequences and rescind and annul any prior notice of termination of this Lease. The respective rights of the parties will then be as they would have
been had no Default or Event of Default occurred and no such notice been given. 
  

	23.7	Present Value of Payments 

In calculating Lessor’s damages hereunder, upon an Event of Default all Rent and other amounts which would have been due hereunder
during the Lease Term if an Event of Default had not occurred will be calculated on a present value basis using a discounting rate to be agreed upon between the parties at the time of calculation, discounted to the earlier of the date on which
Lessor obtains possession of the Aircraft or Lessee makes an effective tender thereof, regardless of the condition thereof. 

  
 106(138)

	23.8	Use of Termination Date 

For avoidance of doubt, it is agreed that if this Lease terminates and the Aircraft is repossessed by Lessor due to an Event of Default,
then, notwithstanding the use of the term “Termination Date” in this Lease, the period of the Lease Term and the “Expiration Date” will be utilized in calculating the damages to which Lessor is entitled pursuant to
Article 23.5. 
  

	23.9	Mitigation of Damages 

Lessor agrees to act in a commercially reasonable manner to mitigate any damages it may incur as a result of the occurrence of an Event of
Default. 

  
 107(138)

	24.	NOTICES 

  

	24.1	Manner of Sending Notices 

Any notice, request or information required or permissible under this Lease will be in writing in Spanish and accompanied with an English
translation thereof. Notices will be delivered in person or sent by fax, letter (mailed airmail, certified and return receipt requested), or by expedited delivery with proof of reception by addressee, addressed to the parties as set forth in
Article 24.2. In the case of a fax, notice will be deemed received on the date set forth on the confirmation of receipt produced by the sender’s fax machine immediately after the fax is sent. In the case of a mailed letter, notice will be
deemed received upon actual receipt in accordance with proof issued by the postal service. In the case of a notice sent by expedited delivery, notice will be deemed received on the date of delivery set forth in the records of the Person which
accomplished the delivery. If any notice is sent by more than one of the above listed methods, notice will be deemed received on the earliest possible date in accordance with the above provisions. 

 

	24.2	Notice Information 

Notices will be sent: 
  

					
	If to Lessor:	 	Arrendadora Financiera Inbursa, S.A. de C.V.
		 	Sociedad Financiera de Objeto Multiple,
		 	Entidad Regulada, Grupo Financiero Inbursa
		 	Paseo de las Palmas 736
		 	Col. Lomas de Chapultepec
		 	Mexico, 11000, D.F.
		 	Mexico
		 	Attention:	 	Director Juridico
		 	Fax:	 	+52 55 52 02 52 00
		
	With a copy to:	 	Jetscape, Inc.
		 	10 S. New River Drive East, Suite 200
		 	Fort Lauderdale, FL 33301
		 	United States of America
		 	Attention:	 	Legal Department
		 	Fax:	 	+1 954 763 4757
		
	If to Lessee:	 	Concesionaria Vuela Compañía de Aviación, S.A. de C.V.
		 	Prolongación Paseo de la Reforma No. 490
		 	Piso 1 (Edifício GE)
		 	Colonia Santa Fé Peña Blanca
		 	Del. Alvaro Obregón
		 	Mexico D.F. 01012
		 	Mexico
		 	Attention:	 	General Counsel
		 	Fax:	 	+52 55 5261 6460

 or to such other places and numbers as either party directs in writing to the other party. 

  
 108(138)

	25.	GOVERNING LAW AND JURISDICTION 

  

	25.1	Governing Law 

 This Lease
is governed by and shall be construed in accordance with the Federal Laws of Mexico. 
  

	25.2	Jurisdiction 

 For
everything related to the interpretation, fulfillment, and enforcement of this Lease, the parties hereto expressly and irrevocably submit to the jurisdiction of the competent courts of the Federal District of Mexico and hereby waive in express and
irrevocable form their right to any other jurisdiction that to the same may correspond by virtue of their present or future domicile, of the location of their assets or in any other form. 

 

	25.3	Waiver of Sovereign Immunity 

 Lessee irrevocably and unconditionally: 
  

	 	(i)	agrees that if Lessor brings legal proceedings against it or its assets in relation to this Lease no immunity from such proceedings (which will be deemed to include
without limitation, suit, attachment prior to judgement, other attachment, the obtaining of judgement, execution or other enforcement) will be claimed by or on behalf of itself or with respect to its assets; 

 

	 	(ii)	waives any such right of immunity which it or its assets now has or may in the future acquire; and 

 

	 	(iii)	consents generally in respect of any such proceedings to the giving of any relief or the issue of any process in connection with such proceedings including, without
limitation, the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgement which may be made or given in such proceedings. 

 

	25.4	Prevailing Party in Dispute 

 If any legal action or other proceeding is brought in connection with or arises out of any provisions in this Lease, the prevailing party will be entitled to recover expenses and costs including
attorneys’ fees and other costs incurred in such action or proceedings. The prevailing party will also, to the extent permissible by Law, be entitled to receive pre- and post judgment Default Interest. 

  
 109(138)

	25.5	Waivers 

 EACH OF LESSEE
AND LESSOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH EITHER OF THEM MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATED TO THIS LEASE BROUGHT IN ANY OF THE COURTS REFERRED TO IN
ARTICLE 25.2, AND HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

  
 110(138)

	26.	MISCELLANEOUS 

  

	26.1	Expenses 

 Each of Lessor
and Lessee shall bear its own costs and expenses in respect of the negotiation and execution of this Lease and the other Operative Documents, including the fees and disbursements of its counsel, brokers and agents. Lessee shall bear the cost of
translating this Lease into Spanish and certifying such translation by a translation expert listed as such by the Superior Tribunal of Justice of the Federal District of Mexico or by the Council of the Federal Judicature (and any related necessary
documents), if required for the registration or the enforcement thereof in the State of Registration or in Mexico. Lessee shall also pay all costs, fees and expenses required to have this Lease ratified by a mercantile broker or by a notary public
(and any related necessary documents) ratified, notarized and legalized as applicable for the registration or enforcement thereof in the State of Registration or in Mexico. If a party hereto (the “Requesting Party”) requests any
approvals, consents, waivers, modifications or amendments hereto, such Requesting Party shall reimburse the other party for all out-of-pocket costs and expenses, including reasonable attorneys fees, incurred by such other party in connection with
such approvals, consents, waivers, modifications or amendments. Lessee shall bear all costs, including attorneys fees and expenses, whether or not trial be brought and both at trial and on appeal or amparo, incurred by Lessor and/or any
Lessor’s Lender in properly enforcing any obligation of Lessee hereunder and Lessee shall indemnify and hold Lessor and any Lessor’s Lender harmless from any such cost and expense and any loss or damage incurred in connection with such
proper enforcement. 
  

	26.2	Power of Attorney 

 Lessee
agrees to provide an irrevocable power of attorney for deregistration, removal of the Aircraft from Lessee’s Operating Certificate and export of the Aircraft, the Airframe, any Engines and any Part thereof and for collection of insurance
proceeds in substantially the same form as Exhibit F hereto for the purpose of enforcing Lessor’s rights in respect of this Lease, including without limitation, the return, repossession, de-registration and exportation of the Aircraft.
Lessee will take all steps required under the Laws of the State of Registration to provide such power of attorney to Lessor and Lessor’s Lender and to any individuals to whom such shall indicate with capacity of substitution and delegation in
compliance with the requirements of Law for it to be valid and fully enforceable by Lessor. Lessor hereby agrees that in the event that it shall act pursuant to the foregoing powers of attorney in absence of the existence of an Event of Default it
shall be liable to Lessee for the damages and prejudices that may result from such acts. 

  
 111(138)

	26.3	Lessor Performance for Lessee 

 The exercise by Lessor of its remedy of performing a Lessee obligation hereunder is not a waiver of and will not relieve Lessee from the performance of such obligation at any subsequent time or from the
performance of any of its other obligations hereunder. 
  

	26.4	Lessor’s Payment Obligations 

 Any obligation of Lessor under this Lease to pay or release any amount to Lessee is conditioned upon (a) all amounts then due and payable by Lessee to Lessor under this Lease having been paid in full
and (b) no Default or Event of Default having occurred and continuing hereunder at the time such payment or release of payment is payable to Lessee provided however, that upon cure of any such Default or Event of Default, whether by or on
behalf of Lessee directly or by application of amounts so withheld, Lessor shall forthwith pay to Lessee the amount so withheld less the amount applied in full or partial cure of any such Default or Event of Default. 

 

	26.5	Materiality 

 For the
purpose of this Lease and the other Operative Documents, the terms “material” or “materially” shall whenever such terms shall be applicable, except in reference to actual items of equipment or repair or where the context
otherwise indicates or requires, be understood to be in reference to the substantial part or to the majority proportion of the concept or event that it intends to qualify. 

 

	26.6	Usury Laws 

 The parties
intend to contract in strict compliance with any applicable usury Laws. Notwithstanding anything to the contrary in the Operative Documents, Lessee will not be obligated to pay Default Interest or other interest in excess of the maximum non-usurious
interest rate, as in effect from time to time, which may by applicable Law be charged, contracted for, reserved, received or collected by Lessor in connection with the Operative Documents. During any period of time in which the then applicable
highest lawful rate is lower than the Default Interest rate, Default Interest will accrue and be payable at such highest lawful rate; however, if at later times such highest lawful rate is greater than the Default Interest rate, then Lessee will pay
Default Interest at the highest lawful rate until the Default Interest which is paid by Lessee equals the amount of interest that would have been payable in accordance with the interest rate set forth in Article 4.6. 

  
 112(138)

	26.7	Delegation by Lessor 

Lessor may delegate to any Person(s) all or any of the rights, powers or discretion vested in it by this Lease and any such delegation may
be made upon such terms and conditions as Lessor thinks fit provided, however, no such delegation shall be deemed in any manner to relieve Lessor of any of its obligations hereunder in respect of all of which Lessor shall remain liable to the same
extent as if no such delegation hade been made and further provided that no such delegation shall result in any cost, expense, liability or obligation in excess of or in addition to these for which Lessee would otherwise have been liable in the
absence of such delegation. 
  

	26.8	Confidentiality 

 The
Operative Documents and all non-public information obtained by either party about the other are confidential and are between Lessor and Lessee only and will not be disclosed by a party to third parties (other than to such party’s auditors or
legal or financial advisors; as required in connection with any filings of this Lease in accordance with Article 13; in connection with Lessor’s potential sale of the Aircraft or assignment of this Lease, provided the potential purchasers
shall have agreed to hold any such information confidential; as required for enforcement by either party of its rights and remedies with respect to this Lease or as required by applicable Law) without the prior written consent of the other party. If
any disclosure will result in an Operative Document becoming publicly available, Lessee and Lessor will cooperate with one another to obtain confidential treatment as to the commercial terms and other material provisions of such Operative Document.
Notwithstanding the foregoing, Lessor may use true copies of Lessee’s logo and pictures of the Aircraft painted in Lessee’s livery in Lessor’s marketing materials. 

 

	26.9	Rights of Parties 

 The
rights of the parties hereunder are cumulative, not exclusive, may be exercised as often as each party considers appropriate and are in addition to its rights under general Law. The rights of one party against the other party are not capable of
being waived or amended except by an express waiver or amendment in writing. Any failure to exercise or any delay in exercising any of such rights will not operate as a waiver or amendment of that or any other such right. Any defective or partial
exercise of any such rights will not preclude any other or further exercise of that or any other such right and no act or course of conduct or negotiation on a party’s part or on its behalf will in any way preclude such party from exercising
any such right or constitute a suspension or any amendment of any such right. 

  
 113(138)

	26.10	Further Assurances 

Lessee agrees and undertakes at its own expense from time to time to do and perform such other and further acts and execute and deliver
any and all such other instruments consistent with the business, economic, commercial and other agreements of the parties as expressed herein as may be required by Law or requested by Lessor to establish, maintain or protect the rights and remedies
of Lessor or to carry out and effect the intent and purpose of this Lease and any other document relating to the transactions contemplated herein. At any time the Cape Town Convention is published in the Official Gazette and deposited at UNIDROIT to
become applicable in the State of Registration and/or Mexico, Lessee shall at its own expense do and perform such other and further acts and execute and deliver any and all such other instruments as may be requested by Lessor or Lessor’s Lender
and which are necessary and consistent with the business, economic, commercial and other agreements of the parties as expressed herein in order to (i) register any international interest under this Lease or any other document relating to the
transactions contemplated herein to which Lessee is a party, or (ii) register any interest in the Aircraft or any part thereof permitted by the Cape Town Convention and/or the Geneva Convention, if applicable, or (iii) to protect and
perfect Lessor’s and Lessor’s Lender’s interest in the Aircraft and this Lease (and any approved sublease, if applicable) in the State of Registration, Mexico or in any other jurisdictions in or over which Lessee (and any sublessee,
if applicable) may operate the Aircraft, including, without limitation, amending this Lease or any other document relating to the transactions contemplated herein, or to enter into other agreements, as may be necessary. 

 

	26.11	Spanish Language Version Prevails 

 The English version of this Lease shall be used for the continuing compliance and determination of the parties rights and obligations hereunder. The mutually agreed, executed and registered Spanish
version of the Lease however will prevail for the interpretation and resolution of any dispute or controversy existing between the parties and over any translations thereof. 

 

	26.12	Use of Word “including” 

 The term “including” is used herein without limitation. 
  

	26.13	Headings 

 All article and
paragraph headings and captions are purely for convenience and will not affect the interpretation of this Lease. Any reference to a specific article, paragraph or section will be interpreted as a reference to such article, paragraph or section of
this Lease. 

  
 114(138)

	26.14	Invalidity of Any Provision or Illegality 

  

	26.14.1	If any of the provisions of this Lease become invalid, illegal or unenforceable in any respect under any Law, the validity, legality and enforceability of the remaining
provisions will not in any way be affected or impaired. 

  

	26.14.2	If a change shall have occurred after the date of this Lease in applicable Law which would make it illegal for Lessor to lease the Aircraft to Lessee or for Lessee to
lease the Aircraft from Lessor and to fully perform its obligations hereunder, the parties agree to negotiate in good faith to restructure this Lease or to otherwise solve the situation (without prejudice to Lessee’s obligation to return the
Aircraft to Lessor in accordance with this Lease as agreed between the parties at that time). 

  

	26.15	Time Limitations 

 Time is
of the essence in the performance of all obligations of the parties under this Lease and, consequently, all time limitations set forth in the provisions of this Lease will be strictly observed. 

 

	26.16	Amendments in Writing 

 The provisions of this Lease may only be amended or modified by a writing executed by Lessor and Lessee. 
  

	26.17	Ratified Signatures 

 The
parties hereunder will execute this Lease in the presence of a mercantile broker or notary public which shall ratify the signatures of the parties hereto. 
  

	26.18	Entire Agreement 

 The
Operative Documents constitute the entire agreement between the parties in relation to the leasing of the Aircraft by Lessor to Lessee and supersede all previous proposals, agreements and other written and oral communications in relation hereto. The
parties acknowledge that there have been no representations, warranties, promises, guarantees or agreements, express or implied, except as set forth herein. 
  

 

  
 115(138)

 IN WITNESS WHEREOF, Lessee and Lessor have caused this Lease to be executed by their
respective officers in this city of Mexico, D.F., as of the date and year first written above. 
 Arrendadora Financiera Inbursa, S.A. de
Concesionaria Vuela Compañía de C.V. Sociedad 
 Financiera de Objeto Aviación, S.A. de C.V. 

Multiple, Entidad Regulada, Grupo 

Financiero Inbursa 
  

									
	By:	 	 /s/ Luis Roberto Frías Humphrey
	 		 	By:	 	 /s/ Alfonso Ascencio Triujeque

	Name:	 	Luis Roberto Frías Humphrey	 		 	Name:	 	Alfonso Ascencio Triujeque
	Title:	 	Legal Representative	 		 	Title:	 	General Counsel

  
 116(138)

 EXHIBIT A 
 ENGINE PERFORMANCE RESTORATION SHOP VISIT 
 “Engine Performance Restoration
Shop Visit” means, in respect of an engine, a performance restoration shop visit of such engine with a minimum target build life of 13,000 engine flight hours at an average stage length of 2.3:1 performed in accordance with a workscope not
less extensive than that set out below and conducted in accordance with the Maintenance Management Plan (“MMP”): 
  

							
	 SECTION REF
	  	 MODULE
	  	 First Shop Visit
	  	 Subsequent
 Shop Visits

	8	  	 Fan Module
	  	L3	  	L3
	9	  	 Low Pressure Compressor
	  	L1/L2	  	L3
	10	  	 Internal Gearbox/Front Bearing Compartment
	  	L1/L2	  	L3
	11	  	 Fan Case and Fan Frame
	  	L1/L2	  	L2/L3
	12	  	 High Pressure Compressor Module
	  	L1/L2	  	L3
	13	  	 Diffuser
	  	L1/L3	  	L3
	14	  	 Combustor
	  	L3	  	L3
	15	  	 No. 4 Bearing Compartment
	  	L1/L2/L3	  	L3
	16	  	 Nozzle Guide Vane Group
	  	L3	  	L3
	17	  	 High Pressure Turbine
	  	L3	  	L3
	18	  	 Low Pressure Turbine Module
	  	L1/L2	  	L3
	19	  	 Turbine Exhaust Case
	  	L1/L2	  	L3
	20	  	 External Gear Box
	  	L1/L2	  	L2/L3
	22	  	 Nacelle Components
	  	L2	  	L3

  
 117(138)

 EXHIBIT B 
 PROHIBITED COUNTRIES 
 “Prohibited Country” means, for the purpose
of Articles 10.3 and 10.6, any of: 
 Afghanistan 
 Bosnia 
 Chechnya 

Cuba 
 Iran

 Iraq 

North Korea 
 Sudan

 Uganda 

Zaire 
 and, for the purpose of
this Lease (including without limitation Articles 10.3 and 10.6), any country 1) where war risk insurance cannot be obtained; 2) any country (other than Mexico) which is under any United Nations embargos, sanctions or orders;
3) any country (other than Mexico) which is the subject of U.S. embargos or sanctions, or which would compromise the ability of Lessee to maintain Mexican or U.S. registration of the Aircraft, as applicable, or place Lessee or Lessor in
violation of any Mexican or U.S. laws or statutes; or 4) to and from which or within which the operation of the Aircraft could result in the imposition of any civil or criminal penalty against Lessor, Lessor’s Lender or Lessee or result in
the seizure, confiscation, detention or other loss of the Aircraft. 
 This Exhibit may be reasonably updated by Lessor (in consultation with
Lessee) during the Lease Term as global events dictate. 

  
 118(138)

 EXHIBIT C 
 FORM OF CERTIFICATE OF INSURANCE 
 SEE FOLLOWING PAGES 

  
 119(138)

 CERTIFICATE OF INSURANCE AND REINSURANCE 

March 28, 2007 
 TO
ARRENDADORA FINANCIERA INBURSA, S.A. de C.V. 
 SOCIEDAD FINANCIERA DE OBJETO MULTIPLE, ENTIDAD REGULADA, GRUPO FINANCIERO INBURSA

 THIS IS TO CERTIFY that as Insurance Brokers we have placed Insurance in the name of CONCESIONARIA VUELA COMPANIA DE AVIACION S.A. DE C.V.
D/B/A VOLARIS (VOLARIS) and/or Associated and/or Affiliated and/or Subsidiary Companies for their respective rights and interests (hereinafter called the “Insured”) with SEGUROS INBURSA. (as the “Insurers”) and that
we, as Reinsurance Brokers, have placed in London and the International Insurance Markets Reinsurance in the name of the Insurers for account of the Insured, covering their operations in connection with their entire fleet of aircraft, including all
new, acquired and leased aircraft from the moment they become the insurance responsibility of the Insured, whilst operating anywhere in the World, but excluding any area the subject of a United Nations sanction, against the following risks and up to
the limits stated :-covering their operations in connection with their entire fleet of aircraft, including all new and acquired aircraft from the moment they become the insurance responsibility of the Insured, whilst operating anywhere in the World,
but in respect of Hull War and Allied Risks also excluding Iraq, Afghanistan, Somalia, Zaire, Angola, Algeria, Burundi, Rwanda, Liberia, Bosnia Hercegovina, Tadzhikistan - or held covered subject to prior advice - overflights covered subject to
necessary permits being obtained, against the following risks and up to the limits stated :- 
  

	1.	HULL ALL RISKS (including Aircraft engines, spare parts and equipment including ground support equipment, aircraft spares kits and engineers tools either owned by the
Insured or the property of others for which the Insured are responsible, including whilst in transit, hereinafter called “Spares”) of loss or damage whilst flying and/or on the ground, on an agreed value basis for an agreed value.
This coverage provided is subject to the following deductibles :- 

 In respect of A319-133 aircraft - ***** each
and every loss excluding Total Loss or Constructive Total Loss or Compromised Total Loss or Arranged Total Loss. 
 In respect of
Spares (not applicable to loss or damage caused by fire, wind, tornado c clone, flood or explosion or to loss or damage arising out of an accident to the carrying aircraft) - ***** each and every loss but in respect of ingestion damage to engines
whilst bench testing subject to full deductible as applicable to Aircraft to which engine is destined to be fitted, but not applicable to Total Loss or Constructive Total Loss or Compromised Total Loss or Arranged Total Loss of the engine concerned.

  

	2.	HULL WAR AND ALLIED RISKS (including Spares) as excluded by the War, Hijacking and other Perils Exclusion Clause (AVN.48B) other than paragraph (b) thereof on
an agreed value basis, for an Agreed Value as at (1) above (and including confiscation and requisition by the State of Registration). Coverage for Spares is restricted in respect of War Risks (as defined in paragraph (a) of Section One of
LSW 555D) is restricted to air and sea transits and incidental land transits in accordance with Institute War Clauses (Cargo) CL255 and Institute War Clauses (Air Cargo) CL258, as applicable. The Hull War and Allied Risks Coverage is
subject to a policy aggregate limit of *****. NOTE: THIS AGGREGATE LIMIT MAY BE REDUCED OR EXHAUSTED BY VIRTUE OF CLAIMS MADE IN RESPECT OF ANY AIRCRAFT/SPARES INSURED UNDER THE POLICY. 

 
 ***** Confidential portions of the material have been omitted and filed
separately with the Securities and Exchange Commission. 

  

					
	March 28, 2007	  	Page 1	  	Ref:  VOLARIS — XA-VOF

 The coverage in respect of spares, as detailed in 1. and 2. above is for such sums as may be declared by the
Insured, subject to a limit of ***** any one sending / any one occurrence. 
  

	3.	AIRCRAFT THIRD PARTY, PASSENGER, BAGGAGE, CARGO, MAIL and AIRLINE GENERAL THIRD PARTY AND CONTRACTUAL LEGAL LIABILITY for a Combined Single Limit (Bodily
Injury/Property Damage) of at least ***** any one occurrence, each aircraft, unlimited in all, but in the annual aggregate in respect of Products Legal Liability. War and Allied Risks are also covered, in accordance with the Extended Coverage
Endorsement (AVN 52E) as contained in the Policy for a Combined Single Limit of at least ***** any one occurrence, each Aircraft. 

It is further certified that Insurers have been advised of the attachment of the following Equipment, hereunder :- 

 

			
	Aircraft Type :	  	Airbus A3I9-133 with two (2) IAE International Aero AG V2527M-A5 Engines
	Registered Marks:	  	XA - VOF
	Manufacturers Serial No.:	  	3077. With respect to the Engines V1256I and V12563
	Agreed Value :	  	***** to be reduced by ***** on each anniversary of the
		  	Delivery Date.
	Effective Date :	  	See Attached Schedule of Insurers
	Policy Deductible applicable to physical damage to the Equipment :	  	as stated herein
	Appointed Broker:	  	Aon Risk Services of Texas, Inc.

 The said Equipment is the subject of the following Contract(s): 

 

	 	1.	Aircraft Lease Agreement, dated as of March 26, 2007 between ARRENDADORA FINANCIERA INBURSA, S.A. de C.V. SOCIEDAD FINANCIERA DE OBJETO MULTIPLE, ENTIDAD
REGULADA, GRUPO FINANCIERO INBURSA, a company formed under the laws of Mexico (“Lessor”), and CONCESIONARIA VUELA COMPANIA DE AVIACION S.A. DE C.V., d/b/a VOLARIS, a sociedad anonima de capital variable organized and existing under the
laws of Mexico (“Lessee”) 

 Additional Insureds: 

 

	 	1.	ARRENDADORA FINANCIERA INBURSA, S.A. de C.V. SOCIEDAD FINANCIERA DE OBJETO MULTIPLE, ENTIDAD REGULADA, GRUPO FINANCIERO INBURSA 

 

	 	2.	When notified by the Contract Party in 1, LESSOR’S LENDER (AS DEFINED IN THE LEASE) 

 AND, in addition, in respect of Legal Liability Insurances, their respective shareholders, Affiliates, trustees, beneficiaries, members, directors, officers, employees, servants, agents, successors,
assigns and contractors and in accordance therewith Insurers have agreed to the following:- 
  
 ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
	March 28, 2007	  	Page 2	  	Ref:  VOLARIS — XA-VOF

 It is noted that the Contract Party(ies) has an interest in respect of the Equipment under the
Contract(s). Accordingly, with respect to losses occurring during the period from the Effective Date until the expiry of the Insurance or until the expiry or agreed termination of the Contract(s) or until the obligations under
the Contract(s) are terminated by any action of the Insured or the Contract Party(ies), whichever shall first occur, in respect of the said interest of the Contract Party(ies) and in consideration of the Additional Premium
it is confirmed that the Insurance afforded by the Policy is in full force and effect and it is further agreed that the following provisions are specifically endorsed to the Policy:- 

 

	1.	Under the HULL “ALL RISKS” and HULL WAR and ALLIED RISKS Coverages 

 

	1.1	In respect of any claim on Equipment that becomes payable on the basis of a Total Loss, settlement (net of any relevant Policy deductible) shall be made to the
order of the Contract Party(ies). In respect of any other claim, settlement (net of any relevant policy deductible) shall be made with such party(ies) as may be necessary to repair the Equipment unless otherwise agreed after
consultation between the Insurers and the Insured and, where necessary under the terms of the Contract(s), the Contract Party(ies). Such payments shall only be made provided the same are in compliance with all applicable laws and
regulations. 

  

	1.2	Insurers shall be entitled to the benefit of salvage in respect of any property for which a claims settlement has been made. 

 

	1.3	The Reinsurers and the Reassured hereby agree that in the event of any claim arising under the reinsurance in respect of a total loss or other claim where as provide by
the Agreement such claim is to be paid to the person named as Loss Payee or Contract Party under the Original Policy, the Reinsures shall in lieu of payment to the Reassured, its successors in interest and assignee pay to the person named as Loss
Payee or Contract Party or such person’s assigned under the Original Policy effected by the Assured that portion of any loss due for which the Reinsures would otherwise be liable to pay the Reassured (subject to proof of loss), it being
understood and agreed that such payment by the Reinsurers shall (to the extent of such payment) fully discharge and release the Reinsures from any and all further liability in connection therewith. 

 

	2.	Under the Legal Liability Insurance 

  

	2.1	Subject to the provisions of this Endorsement, the Insurance shall operate in all respects as if a separate policy had been issued covering each party insured
hereunder, but this provision shall not operate to include any claim howsoever arising in respect of loss or damage to the Equipment insured under the Hull or Spares Insurance of the Insured. Notwithstanding the foregoing the total liability
of Insurers in respect of any and all Insureds shall not exceed the limits of liability stated in the Policy. 

  

	2.2	The Insurance provided hereunder shall be primary and without right of contribution from any other insurance which may be available to the Contract Party(ies).

  

	2.3	This endorsement does not provide coverage for the Contract Party(ies) with respect to claims arising out of their legal liability as manufacturer, repairer, or
servicing agent of the Equipment. 

  

					
	March 28, 2007	  	Page 3	  	Ref:  VOLARIS — XA-VOF

	3.	Under ALL Insurances 

  

	3.1	The Contract Party(ies) are included as Additional Insured(s) as their respective interests may appear. 

 

	3.2	The cover afforded to each Contract Party(ies) by the Policy in accordance with this Endorsement shall not be invalidated by any act or omission (including
misrepresentation and non-disclosure) of any other person or party which results in a breach of any term, condition or warranty of the Policy PROVIDED THAT the Contract Party(ies) so protected has not caused, contributed to or knowingly
condoned the said act or omission. 

  

	3.3	The provisions of this Endorsement apply to the Contract Party(ies) solely in their capacity as financier/lessor in the identified Contract(s) and not in
any other capacity. Knowledge that any Contract Party(ies) may have or acquire or actions that it may take or fail to take in that other capacity (pursuant to any other contract or otherwise) shall not be considered as invalidating the cover
afforded by this Endorsement. 

  

	3.4	The Contract Party(ies) shall have no responsibility for premium and Insurers shall waive any right of setoff or counterclaim against the Contract
Party(ies), except in respect of outstanding premium in respect of the Equipment. 

  

	3.5	Upon payment of any loss or claim to or on behalf of any Contract Party(ies), Insurers shall to the extent and in respect of such payment be thereupon subrogated
to all legal and equitable rights of the Contract Party(ies) indemnified hereby (but not against any Contract Party(ies). Insurers shall not exercise such rights without the consent of those indemnified, such consent not to be
unreasonably withheld. At the expense of Insurers, such Contract Party(ies) shall do all things reasonably necessary to assist the Insurers to exercise said rights. 

 

	3.6	Except in respect of any provision for Cancellation or Automatic Termination specified in the Policy or any endorsement thereof, cover provided by this Endorsement may
only be cancelled or materially altered in a manner adverse to the Contract Party(ies) by the giving of not less than Thirty (30) days (but seven (7) days or such lesser period as may be customarily available in respect of War and
Allied Perils) notice in writing to the Appointed Broker. Notice shall be deemed to commence from the date such notice is given by the Insurers. Such notice will NOT, however, be given at normal expiry date of the Policy or any
endorsement. 

  

					
	March 28, 2007	  	Page 4	  	Ref:  VOLARIS — XA-VOF

 EXCEPT AS SPECIFICALLY VARIED OR PROVIDED BY THE TERMS OF THIS ENDORSEMENT:- 

 

	1.	THE CONTRACT PARTY(IES) ARE COVERED BY THE POLICY SUBJECT TO ALL TERMS, CONDITIONS, LIMITATIONS, WARRANTIES, EXCLUSIONS AND CANCELLATION PROVISIONS THEREOF.

  

	2.	THE POLICY SHALL NOT BE VARIED BY ANY PROVISIONS CONTAINED IN THE CONTRACT(S) WHICH PURPORT TO SERVE AS AN ENDORSEMENT OR AMENDMENT TO THE POLICY.

 In addition to the foregoing it is further certified that Insurers have agreed to include the following provisions:-

  

	1.	Under the Hull “All Risks” and Hull “War Risks” Insurances:- 

 

	1.2	To include a 50%/50% Clause (in accordance with AVS103). 

 It is our opinion, as Insurance Brokers, that the Insurances carried by the Insured, as described in this Certificate of Insurance comply with the relative parts of the Contract(s) as far as the
requirements relate to the insurance as herein stated and that the Insurance and Reinsurance arrangements are effected with Insurers and Reinsurers of recognised responsibility who normally participate in airline Insurance Programmes. 

It is further certified that Insurers have applied the Date Recognition Exclusion Clause - AVN 2000 and have agreed to provide limited
“writeback” of coverage in respect thereof in accordance with the Date Recognition Limited Coverage Clauses AVN 2001 and AVN 2002, as applicable. 
 Subject to the terms, conditions, limitations, exclusions and cancellation provisions of the relative Policy Numbers (see attached Schedule of Insurers) which expire at midnight as per the attached
schedule. 
 The coverage provided shall not contravene any applicable United Nations sanctions. 

AON RISK SERVICES OF TEXAS, INC. 

Authorized Representative 
 SEVERAL LIABILITY NOTICE - The subscribing insurers’ obligations under policies to which they subscribe are several and not joint and are limited solely to the extent of their individual
subscriptions. The subscribing insurers are not responsible for the subscription of any co-subscribing insurer who for any reason does not satisfy all or part of its obligations. 

  

					
	March 28, 2007	  	Page 5	  	Ref:  VOLARIS — XA-VOF

 EXHIBIT D 
 FORM OF BROKERS’ LETTER OF UNDERTAKING 
 SEE FOLLOWING PAGES 

  
 120(138)

 LETTER OF UNDERTAKING 

March 28, 2007 
  

	TO:	ARRENDADORA FINANCIERA INBURSA, S.A. de C.V. 

 SOCIEDAD FINANCIERA DE OBJETO MULTIPLE, ENTIDAD REGULADA, GRUPO 
 FINANCIERO
INBURSA 
 CONCESIONARIA VUELA COMPANIA DE AVIACION S.A. DE C.V. D/B/A VOLARIS 

Dear Sirs, 
 AIRCRAFT TYPE Airbus A319-133

 M.S.N. 3077 
 Registered Marks:
XA-VOF 
 OPERATOR:    CONCESIONARIA VUELA COMPANIA DE AVIACION S.A. DE C.V. D/B/A VOLARIS (VOLARIS) 

We confirm we have placed Insurance in the name of CONCESIONARIA VUELA COMPANIA DE AVIACION S.A. DE C.V. D/B/A VOLARIS (VOLARIS) and/or Associated and/or
Affiliated and/or Subsidiary Companies for their respective rights and interests (hereinafter called the “Insured”) with SEGUROS INBURSA, (as the “Insurers”) and that we, as Reinsurance Brokers, have placed in London and the
International Insurance Markets Reinsurance in the name of the Insurers for account of the Insured, covering their operations in connection with their entire fleet of aircraft. 
 Pursuant to instructions received from the Operator and in consideration of your approving ourselves as the Insurance Broker for such insurances, we undertake as follows in connection with the
Operator’s Fleet Policy arrangements (under which the Aircraft identified above is insured), but only in relation to your interest(s) in the Aircraft:- 
  

	1.	In relation to the Hull and Hull War Risks Insurances, to hold the insurance slips and the benefit of those insurances to your order in accordance with the loss payable
provision referenced in the said Certificate of Insurance, but subject always to our requirements to operate the Fleet Policy arrangements in so far as they relate to any other aircraft insured thereunder. 

 

	2.	To advise you, promptly :- 

  

	 	2.1	of the receipt by us of any notice of cancellation or material change in the insurances; and 

 

	 	2.2	if any premiums are not paid to us in accordance with the accounting procedures that exist between the Operator and ourselves before we notify insurers of such
non-payment of premiums; and 

  

	 	2.3	upon application from you, of the premium payment situation; and 

  

	 	2.4	if we cease to be Insurance Brokers to the Operator. 

  

  

  

  

  

					
	March 28, 2007	  	Page 6	  	Ref:  VOLARIS — XA-VOF

	3.	Following a written application received from you not later than one month before expiry of these insurances to notify you within fourteen days of the receipt of such
application in the event of our not having received renewal instructions from the Operator. 

 The above undertakings are given
subject to :- 
  

	a.	our continuing appointment for the time being as Insurance Brokers to the Operator; and 

 

	b.	all claims and return premiums being collected through ourselves as Insurance Brokers; and 

 

	c.	our lien, if any, on the said insurances for premiums due in respect of the Aircraft. 

 

	
	AON RISK SERVICES OF TEXAS, INC.
	
	Authorized Representative

  

  

  

  

  

					
	March 28, 2007	  	Page 7	  	Ref:  VOLARIS — XA-VOF

 SCHEDULE OF PARTIES TO WHOM NOTICE IS TO BE GIVEN 

Certificate : VOLARIS — XA-VOF 

Insured : VOLARIS 
 Subject : Airbus
A319-133 XA-VOF, msn 3077 
 PLEASE READ CAREFULLY 
 Under the attached Certificate, Underwriters have agreed to give notice in certain circumstances. In order to ensure our ability, as the intermediary, to direct such notice to the relevant parties, we
would request that you complete the schedule below and return it to Aon Risk Services of Texas, Inc., if possible by facsimile. (OUR DIRECT FACSIMILE NUMBER IS 214 989 2114) 
 PLEASE NOTE: We would remind you that notices are effective from the time of issuance and failure to provide us with the above requested information will severely inhibit our ability to ensure that
you are given prompt advice. At present the information held on our files is as follows. This schedule only need be returned to us in the event that the information below is incomplete or inaccurate. 

 

			
	Company:	 	ARRENDADORA FINANCIERA INBURSA, S.A. de C.V.
	Address:	 	 SOCIEDAD FINANCIERA DE OBJETO MULTIPLE, ENTIDAD
 REGULADA, GRUPO FINANCIERO INBURSA

		 	Paseo de las Palmas 736
		 	Col. Lomas de Chapultepec
		 	Mexico D.F.
		 	11000
		 	Mexico
	Facsimile:	 	5255-5261-6460
	Addressee:	 	General Counsel
		
	Company:	 	CONCESIONARIA VUELA COMPANIA DE AVIACION S.A. DE C.V.
	Address:	 	Prolongation Paseo de la Reforma, #490
		 	Piso 1, Edificio GE, Col. Santa
		 	Fe Pena Blanca, Del. Alvaro Obregón
		 	Mexico, D.F. 01012
		 	Mexico
	Facsimile:	 	5255-5261-6460
	Addressee:	 	General Counsel

  

  

  

  

  

					
	March 28, 2007	  	Page 8	  	Ref:  VOLARIS — XA-VOF

 EXHIBIT E 
 FORM OF ACCEPTANCE CERTIFICATE 
 Concesionaria Vuela Compañía de
Aviación, S.A. de C.V., a Mexican company (“Lessee”) does hereby represent, acknowledge, warrant and agree as follows: 
 1. Lessee and Arrendadora Financiera Inbursa, S.A. de C.V. Sociedad Financiera de Objeto Multiple, Entidad Regulada, Grupo Financiero Inbursa (“Lessor”) have entered into an
Aircraft Lease Agreement dated as of March 26, 2007 (hereinafter referred to as the “Lease”). Words used herein with capital letters and not otherwise defined will have the meanings set forth in the Lease. 

2. Lessee has this     day of
                    ,              (Time:
            ) at             received from Lessor possession of: 

(a) One (1) new Airbus A319-133 aircraft bearing Manufacturer’s serial number 3077 and registration mark XA-VOF,
together with two (2) IAE V2527M-A5 engines bearing manufacturer’s serial numbers V12561 and V12563 (each of which has at least 1750 lbs of thrust) and one (1) Honeywell 131-9A APU bearing manufacturer’s serial number
P-3500, all in airworthy condition. 
 (b) All Aircraft Documentation, including the usual and customary manuals,
logbooks, flight records and historical information regarding the Aircraft, Engines, APU and Parts. 
 (c) The
loose equipment set forth in the list of Loose Equipment attached hereto. 
 3. The Aircraft had the following seating
configuration at the Delivery Date: 

                    
business class seats 

                    
economy class seats 
 4. The Airframe, Engines, APU and Parts had the following hours/cycles at the Delivery Date: 

 

	 	(a)	Airframe: 

Maximum gross takeoff weight:
                    pounds 
 Total hours:             Total Landings:              

  
 121(138)

	 	(b)	Engines: 

Certified thrust rating:
                     pounds (from data plate) 
  

							
	 Position
	  	Serial No.	  	Total Hours	  	Total Cycles

  

	 	(c)	APU: 

 MSN
                     
 Total hours:              
             hours/            cycles remaining on APU LLPs 

 

	 	(d)	Landing Gear: 

  

							
	 Position
	  	Serial No.	  	Total Hrs/Cycles	  	Hrs/Cycles/days
remaining to next
Overhaul
	 Nose
	  		  		  	
	 Left Main
	  		  		  	
	 Right Main
	  		  		  	

 5. The amount of fuel on board at the Delivery Date is
            (circle one) pounds/kilos (            gallons). 

6. All of the foregoing has been delivered and accepted on the date set forth above to Lessee’s full satisfaction and pursuant to
the terms and provisions of the Lease. 
 7. The Aircraft, Engines, APU, Parts and Aircraft Documentation as described in the
Lease have been fully examined by Lessee and have been received in a condition fully satisfactory to Lessee and in full conformity with the Lease in every respect. 
 8. The Lease is in full force and effect, Lessor has fully performed all of its obligations under the Lease, and Lessee has no claims, offsets, deductions, setoff or defenses of any kind or nature in
connection with the Lease. 
 9. Lessee has obtained all required permits, authorizations, licenses and fees of the State of
Registration or any Government Entity thereof necessary in order for Lessee to operate the Aircraft as permitted by the terms of the Lease. 

  
 122(138)

 Dated on the date set forth above 

 

			
	Concesionaria Vuela Compañía de Aviación, S.A.
de C.V.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	ATTACHMENTS:
		
	1.	 	List of Aircraft Documentation
		
	2.	 	Inventory of Avionic Equipment
		
	3.	 	List of Loose Equipment
		
	4.	 	List of Free of Charge Kits
		
	5.	 	Engine Power Assurance Test Conditions and Results

  
 123(138)

 EXHIBIT F 
 FORM OF POWER OF ATTORNEY 
 SEE FOLLOWING PAGES 

  
 124(138)

			
	POWER OF ATTORNEY	  	PODER
		
	Concesionaria Vuela Compañía de Aviación, S.A. de C.V. (“Volaris”) hereby irrevocably grants an irrevocable power of attorney in favor of ARRENDADORA
FINANCIERA INBURSA S.A. DE C.V. SOFOM E.R., GRUPO FINANCIERO INBURSA, with domicile at Paseo de las Palmas No. 736, Col. Lomas de Chapultepec Mexico, D.F., C.P. 11000. (“Inbursa”) as Volaris’s true and lawful Attorney in fact so
that Inbursa may take any of the following actions in the name of and for Volaris with respect to the Airbus A319-133 Aircraft bearing Manufacturer’s Serial Number 3077 (the “Aircraft”) leased by Inbursa to Volaris pursuant to an
Aircraft Lease Agreement dated as of March 26th, 2007
(the “Lease”) and to certain rights of Inbursa in respect thereto.	  	Concesionaria Vuela Compañía de Aviación, S.A. de C.V. (“Volaris”) par este acto otorga, poder irrevocable, a favor de of ARRENDADORA FINANCIERA
INBURSA S.A. DE C.V. SOFOM ER., GRUPO FINANCIERO INBURSA, con domicilio en Paseo de las Palmas No. 736, Col. Lomas de Chapultepec Mexico, D.F., C.P. 11000., (“Inbursa”) como representante de Volaris, por lo que Inbursa puede llevar a cabo
cualquiera de las siguientes acciones en nombre de Volaris en relacion con la Aeronave A319-133, Número de Serie del Fabricante 3077 (la “Aeronave”) arrendada por Inbursa a Volaris de conformidad con el Contrato de Arrendamiento de
Aeronave celebrado el 26 de Marzo de 2007 (el “Arrendamiento”) y con relación a determinados derechos de Inbursa con relación al mismo.
		
	1. Pursuant to the Lease, Volaris has procured and is maintaining insurances for the Aircraft. Inbursa has been named sole loss payee on the Hull All Risks and Hull War and Allied
Risks insurances for the Aircraft. In the event of a total loss or constructive total loss of the Aircraft, Inbursa is entitled to receive insurance proceeds according to Section 16 of the Lease. Inbursa may take all action and sign all
documents otherwise required to be performed by Volaris, including execution on behalf of Volaris of an appropriate form of discharge/release document, in order for Inbursa to collect such insurance proceeds.	  	1. Volaris ha obtenido y mantiene coberturas de seguro respecto de la Aeronave, de conformidad con el Contrato. Inbursa ha sido nombrado coma único beneficiario en los
seguros de Casco y Todo Riesgo y de Casco, Guerra y Riesgos Relacionadosde la Aeronave. En caso de pérdida total o que constituya perdida total de la Aeronave, Inbursa esta autorizado para recibir los beneficios del seguro de conformidad con
la Seccion 16 del Contrato. Inbursa podrá llevar a cabo todas las acciones, suscribir todos los documentos; y realizar cualquier acción nombre de Volaris, incluyendo la ejecución del formato apropiado de descarga
liberación para cobrar los beneficios del seguro.
		
	2. In the exercise of the rights of Inbursa to recover the Aircraft from Volaris and remove the same from the United Mexican States, Inbursa may take all action and steps otherwise
required to be performed by Volans before any administrative or judicial authority of the United Mexican States in order to	  	2. En el ejercicio de sus derechos para recuperar la Aeronave de parte de Inbursa y remover la misma de los Estados Unidos Mexicanos, Inbursa podrá llevar a cabo todas las
acciones y pasos que deban ser realizados por Volaris ante cualquier autoridad administrativa o judicial de los Estados Unidos Mexicanos, con el fin de que

			
	(i) cause the Aircraft and any Engines, Parts, Aircraft Documents or Aircraft Documentation to be repossessed by Inbursa, (ii) deregistered from the Mexican Aeronautic
Registry of the Dirección General de Aeronautica Civil and (iii) exported from the United Mexican States.	  	(i) la posesion de la Aeronave y sus Motores, Partes, Documentacion de la Aeronave sea recuperada por Inbursa, (ii) sea dada la baja del Registro Aeronáutico
Mexicano de la Dirección General de Aeronáutica Civil y (iii) sea exportada de los Estados Unidos Mexicanos.
		
	3. In the exercise of the rights mentioned in paragraphs 1 and 2, Inbursa may make any filings and declarations or statements and sign any public or private documents which may
be considered necessary or appropriate.	  	3. En el ejercicio de los derechos consignados en los párrafos 1 y 2 anteriores, Inbursa podrá presentar documentos y declaraciones, así como suscribir
documentos públicos o privados que se consideren apropiados necesarios.
		
	4. Inbursa may delegate the powers conferred hereby, in whole or in part, to any individual(s), including but no limited to employees of Inbursa or legal counsel in the United
Mexican States.	  	4. Inbursa podrán delegar las facultades conferidas en este documento, en todo o en parte, a cualquier individuo (s), incluyendo sin limitación, a sus empleados o
abogados en los Estados Unidos Mexicanos.
		
	Inbursa is empowered to determine in its sole discretion when to exercise the powers conferred upon Inbursa pursuant to this Power of Attorney as contemplated in paragraphs 1
and 2, without requiring judicial resolution, in the understanding that Volaris shall not be entitled to exercise any action against (i) any person acting pursuant the present Power of Attorney and the acts that be resultant from such actions;
and (ii) any person designated by Inbursa or by an officer of Inbursa to give instructions pursuant to this Power of Attorney so long as such person, abides by the terms of this Power of Attorney and the instructions of Inbursa.	  	Inbursa queda facultada para determiner, a su discreción, el ejercicio de as facultades que le han sido conferidas de acuerdo al presente Poder como se contempla en los
párrafos 1 y 2, sin necesidad de resolución judicial o sentencia, en el entendido de que Volaris no tendrá derecho a ejercitar acción alguna en contra de (i) cualquier persona que actúe de acuerdo al presente
Poder y de los actos que de dicha actuación se deriven; (ii) cualquier otra persona designada por Inbursa o por un funcionario de Inbursa para dar instrucciones de acuerdo con este Poder en tanto dicha persona se someta a los
términos del presente Poder y a las instrucciones de Inbursa.
		
	Volaris also agrees to indemnify and hold harmless any person which may act pursuant to this Power of Attorney and pursuant to instructions given by Inbursa or its designee so long
as such person abides by terms of this Power of Attorney and the instructions of Inbursa. This Power of Attorney is irrevocable until the Aircraft has been returned to the possession of Inbursa, deregistered and exported from the United Mexican
States in consideration of the fact that it derives from a contractual relationship between the parties to the Lease.	  	Volaris también acuerda en indemnizar y mantener en paz y a salvo a cualquier persona que pueda actuar en base a este Poder y de acuerdo a las instrucciones de Inbursa o su
mandatario, en tanto dicha persona se someta a los términos del presente Poder y a las instrucciones de Inbursa. El presente Poder se otorga de forma irrevocable hasta que la Aeronave haya sido devuelta a la posesión de Inbursa, dada
la baja y exportada de los Estados Unidos Mexicanos en consideración a que el mismo se deriva de la relación contractual entre las partes conforme al Arrendamiento.
		
	This power of attorney will be exercised before any kind of persons natural and legal, so as before civil, military, judicial and administrative authorities, whether federal of
local and especially before the Boards of Conciliation and Arbitration.	  	El presente poder se ejercerá ante toda clase de personas fisicas y morales, así como ante autoridades civiles, militares, judiciales y administrativas, ya sean
federates o locales y especialmente ante las Juntas de Conciliación y Arbitraje.

			
		
	This Power of Attorney is granted to be exercised in the United Mexican States, pursuant to the Interamerican Convention on the Legal Regime of Powers of Attorney to be used abroad
and to the Washington Protocol for the Uniformity of the Legal Regime of Powers of Attorney.	  	Este Poder se otorga para ser ejercitado en los Estados Unidos Mexicanos, conforme a la Convención Interamericana sobre el Régimen Legal de los Poderes para ser
Utilizados en el Extranjero y al Protocolo Sobre Uniformidad del Régimen Legal de Poderes de Washington.
		
	Concesionaria Vuela Compete de Aviación, S.A. de C.V. has made and delivered this Power of Attorney on March 28, 2007 in Mexico City.	  	Concesionaria Vuela Campañía de Aviacion, S.A. de C.V. ha otorgado y entregado este Poder, en la Ciudad de México el dia 28 de Marzo de 2007.
		
	Concesionaria Vuela Compañía de Aviación, S.A. de C.V.	  	Concesionaria Vuela Compañía de Aviación S.A. de C.V.
		
	  
	  	  

	By: Fernando Suárez Gerard	  	Por. Fernando Suárez Gerard
	Title: Chief Financial Officer and Attorney in fact	  	Cargo: Director de Finanzas y Representante Legal
	
	Witness/Testigos
	  
	  	  

		
	Verónica Gutiérrez Mena	  	Sergio Rábago Moreno

 EXHIBIT G 
 RETURN ACCEPTANCE RECEIPT 
 Date:
                    ,                     

 1. Concesionaria Vuela Compañía de Aviación, S.A. de C.V. (“Lessee”) and Arrendadora
Financiera Inbursa, S.A. de C.V. Sociedad Financiera de Objeto Multiple, Entidad Regulada, Grupo Financiero Inbursa (“Lessor”) have entered into an Aircraft Lease Agreement dated as of March 26, 2007 (the
“Lease”). Words used herein with capital letters and not otherwise defined will have the meanings set forth in the Lease. 
 2. Lessor has this     day of                     ,
            (Time:             ) at             received from Lessee
possession of: 
 (a) One (1) Airbus A319-133 Aircraft bearing Manufacturer’s serial number 3077,
together with two (2) IAE V2527M-A5 Engines bearing manufacturer’s serial numbers ) V12561 and V12563, one (1) Honeywell 131-9A APU bearing manufacturer’s serial number P-3500, and all Parts attached thereto and thereon in an
airworthy condition and 
 (b) All Aircraft Documentation, including the usual and customary manuals, logbooks,
flight records and historical information regarding the Aircraft, Engines, APU and Parts, as listed in the Document Receipt attached hereto. 
 3. The Aircraft had the following seating configuration at return: 

                    
business class seats 

                    
economy class seats 
 4. The Airframe, Engines, APU and Parts had the following hours/cycles at return: 

 

	 	(a)	Airframe: 

 Maximum gross
takeoff weight:                  pounds 
 Total
hours:                     Total Landings:              

Date last “C” check performed:              

            hours/     cycles since last “C”
check 
 Date last 6Y/12Y structural check performed:             

             hours/     cycles since last
6Y/12Y structural check 

  
 125(138)

	 	(b)	Engines: 

 Certified
thrust rating:                      pounds (from data plate) 
  

											
	 Position
	  	Serial No.	 	  	Total Hours	  	Total Cycles	  	Hrs/Cycles
since last
Performance
Restoration
Shop Visit
					
	 1
	  	 	V12561	  	  		  		  	
					
	 2
	  	 	V12563	  	  		  		  	

  

	 	(c)	APU: MSN              

Total hours:              

         hours/     cycles since last hot section refurbishment 

         hours/     remaining on APU life-limited Parts 

 

	 	(d)	Landing Gear: 

  

									
	 Position
	  	Serial No.	  	Total
Hrs/Cycles	  	Hrs/Cycles/Days
remaining to
next Overhaul	  	Date of last
Overhaul
					
	 Nose
	  		  		  		  	
					
	 Left Main
	  		  		  		  	
					
	 Right Main
	  		  		  		  	

  

	 	(e)	Fuel on board at return:                      (circle one)
pounds/kilos (             gallons) 

 5. Other
technical information regarding the Aircraft and its components are correctly set forth on the Technical Evaluation Report (in the form of Exhibit I) attached hereto. 

  
 126(138)

 6. With reference to Article 12.9 of the Lease regarding reimbursement from the
Maintenance Funds after return of the Aircraft: 
  

	        	There are no claims for reimbursement from the Maintenance Funds which will be submitted after the date hereof. 

Or 
  

	        	Claims for reimbursement from the Maintenance Funds will be submitted after the date hereof for the following: 

 

			
	 Type of Work
	  	 Estimated Invoice Amount

7. The above specified aircraft, engines and documentation are hereby accepted by Lessor subject to (a) the provisions of the Lease
and (b) correction by Lessee (or procurement by Lessee at Lessee’s cost) as soon as reasonably possible of the discrepancies specified in Attachment 2 hereto. 
 8. Subject to the following paragraph, the leasing of the Aircraft by Lessor to Lessee pursuant to the Lease is hereby terminated without prejudice to Lessee’s continuing obligations under the Lease
including, without limitation, paragraph 7(b) above and Articles 9.5, 14, 15 and 16. 
 9. This Return Acceptance
Receipt is executed and delivered by the parties in                     . 
 IN WITNESS WHEREOF, the parties hereto have caused this Return Acceptance Receipt to be executed in their respective corporate names by their duly authorized representatives as of the day and year first
above written. 
  

									
	Concesionaria Vuela Compañía de Aviación, S.A. de C.V.	 		 	Arrendadora Financiera Inbursa, S.A. de C.V. Sociedad Financiera de Objeto Multiple, Entidad Regulada, Grupo Financiero Inbursa
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	

  
 127(138)

 ATTACHMENTS: 
  

	1.	List of Aircraft Documentation 

  

	2.	Inventory of Avionic Equipment 

  

	3.	List of Loose Equipment 

  

	4.	Free of Charge Kits 

  

	5.	List of Discrepancies 

  

	6.	Engine Power Assurance Test Conditions and Results 

  

	7.	Dent and Damage Chart 

  

	8.	Incident/Accident Letter 

  

	9.	Technical Evaluation Report (in the form of Exhibit I) 

  
 128(138)

 EXHIBIT H 
 FORM OF MONTHLY AIRCRAFT UTILIZATION AND STATUS REPORT 
 Report Due Date:
                     
  

									
	To:	  	Arrendadora Financiera Inbursa, S.A. de	  	Jetscape, Inc.
		  	C.V. Sociedad Financiera de Objeto	  	10 S. New River Drive East, Suite 200
		  	Multiple, Entidad Regulada, Grupo	  	Fort Lauderdale, FL 33301
		  	Financiero Inbursa	  	United States of America
		  	Paseo de las Palmas 736	  		 	
		  	Col. Lomas de Chapultepec	  	Attn:	 	Technical Department
		  	Mexico, 11000, D.F.	  	Fax:	 	+1 954 763 4757
		  	Mexico	  	Email:	 	[...]
					
		  	Attn:	 	Director Juridico	  		 	
		  	Fax:	 	+55 52 02 52 00	  		 	
		  	Email:	 	[...]	  		 	
		
	From:	  	Concesionaria Vuela Compañía de Aviación, S.A. de C.V.

  

			
	Contact:             	  	Fax:             
		
	AIRCRAFT TYPE: AIRBUS A319-133	  	
		
	SERIAL NUMBER: 3077	  	REGISTRATION:             
		
	ENGINE TYPE: IAE V2527M-A5	  	MONTH OF:             

 NOTE: PLEASE RECORD TIME IN HOURS AND MINUTES OR IN DECIMALS 

 

					
	Aircraft Total Time Since New As Of Last Month:	  	Hours:            	  	Min:        
	Aircraft Total Time Since New:	  	Hours:	  	Min:
	Aircraft Total Cycles Since New:	  	Cycles:	  	
	Airframe Hours Flown During Month:	  	Hours:	  	Min:
	Airframe Cycles/Landings During Month:	  	Cycles:	  	
	Time Remaining to 6Y/12Y structural or Heavy Maintenance Check:	  		  	

  
 129(138)

											
	 	  	 HOURS OR CYCLES
DURING FLOWN
DURING
MONTH
 (as applicable)
	  	x	  	US$ PER HOUR,
CYCLE OR MONTH
(as applicable)	  	=	  	MAINTENANCE
FUNDS
	 TOTAL AIRFRAME:
	  	One (1) Month	  	x	  		  	=	  	
						
	 TOTAL LANDING GEAR:
	  	One (1) Month	  	x	  		  	=	  	
						
	 TOTAL APU:
	  	Hrs:	  	x	  		  	=	  	
						
	 Original Engine Serial Number:
	  	Hrs.	  	x	  		  	=	  	
						
		  	Cycle (for Engine LLP Maintenance Fund):	  	x	  		  	=	  	
						
	 Original Engine Serial Number:
	  	Hrs:	  	x	  		  	=	  	
						
		  	Cycles (for Engine LLP Maintenance Fund):	  	x	  		  	=	  	
			
	 TOTAL AMOUNT OF MAINTENANCE FUNDS (US$) PAID THIS MONTH:
	  	US$	  	

  

			
	ENGINE SERIAL NUMBER:	 	ENGINE SERIAL NUMBER:
		
	ORIGINAL POSITION:	 	ORIGINAL POSITION:
		
	ACTUAL LOCATION:	 	ACTUAL LOCATION:
		
	CURRENT THRUST RATING:	 	CURRENT THRUST RATING:
		
	HOURS:	 	HOURS:
		
	Total Time Since New As Of Last Month:	 	Total Time Since New As Of Last Month:
		
	Total Time Since New:	 	Total Time Since New:
		
	Total Cycles Since New:	 	Total Cycles Since New:
		
	Hours Flown During Month:	 	Hours Flown During Month:
		
	Cycles During Month:	 	Cycles During Month:

  

			
	IMPORTANT:	  	IF ENGINE OWNED BY ARRENDADORA FINANCIERA INBURSA, S.A. DE C.V. SOCIEDAD FINANCIERA DE OBJETO MULTIPLE, ENTIDAD REGULADA, GRUPO FINANCIERO INBURSA IS REMOVED OR INSTALLED ON
ANOTHER AIRCRAFT, IT MUST BE REPORTED MONTHLY ON THIS FORM.

  
 130(138)

 EXHIBIT I 
 FORM OF TECHNICAL EVALUATION REPORT 
  

			
	Date of Report:	  	
	Delivery Date:	  	
		
	 General Aircraft Description
	  	
		
	 Description
	  	 Details

	 Manufacturer / Model:
	  	
	 Manufacturer Serial Number
	  	
	 Type Certificate Number:
	  	
	 Date of Manufacture:
	  	
	 Design Specification:
	  	
	 Registration / Country of Registration
	  	
	 Registered Owner:
	  	
	 Prior Reg./Country /Authority:
	  	
	 Engine Type
	  	
	 Engine Serial Numbers
	  	
	 Noise Compliance:
	  	
	 Flight Crew Accommodation:
	  	
	 Cabin Crew Accommodation:
	  	
	 Passenger Accommodation:
	  	
	 SELCAL Code:
	  	

 Aircraft Hours and Cycles (As of     -    -    )

  

					
	 Description
	  	 Hours
	  	 Cycles

	 Airframe
	  		  	
	 No. 1 Engine SN             
	  		  	
	 No. 2 Engine SN             
	  		  	

 Aircraft History 
  

							
	 Dates
	  	 Operator
	  	 Country
	  	 Registration

		  		  		  	
		  		  		  	

  

					
	 Weights
	  	 Pounds
	  	 Kilograms

	 Maximum Certified Taxi Gross Weight:
	  		  	
	 Maximum Certified Take-Off Weight:
	  		  	
	 Maximum Certified Landing Weight:
	  		  	
	 Maximum Certified Zero Fuel Weight:
	  		  	

  
 131(138)

					
	Manufacture’s Original Basic Empty Weight:	  		  	
	Operational Empty Weight	  		  	
	Last Aircraft Weighing:	  		  	

  

	
	Additional Information
	 Description of Additional Information

	 Current Transponder Code -

	 Last Transponder Check:

	 Last Altimeter Check:

	 Last Compass Swing:

	 Flight Data Recorder data dump analysis complied with on:

 Maintenance Check Status 
 Aircraft Maintenance and Inspections are carried out in accordance with Operators Approved Program 
  

													
	 Check
	  	 Interval
	  	 Number
	  	 Description of Check

	A	  	     Days	  		  	Last A checks: Per Program
	C	  	     Months	  		  	See below
					
	 Check Status
	  	 1C
	  	 2C
	  	 4C/ 6Y
	  	 8C / 12Y

	Interval Months	  		  		  		  	
	Last Accomplished (Date)	  		  		  		  	
	Last Accomplished: AF (Hours)	  		  		  		  	
	Next Due: Date	  		  		  		  	
	Hours Remaining	  		  		  		  	
	Months Remaining	  		  		  		  	

  

							
	 ATA Chapter
22                    Automatic Flight Control

	 Description
	  	 QTY
	  	 Manufacture / Model
	  	 Mfg. Part No.

	Flight Management Guidance Computer	  		  		  	
	Flight Augmentation Computer	  		  		  	
	Flight Control Unit	  		  		  	
	Multipurpose Control Display Unit	  		  		  	
	
	 ATA Chapter
23                    Communications

	 Description
	  	 QTY
	  	 Manufacture / Model
	  	 Mfg. Part No.

	 Audio Management Unit
	  		  		  	
	 ACARS
	  		  		  	
	 Cabin Intercomm Data System
	  		  		  	
	 Cockpit Voice Recorder
	  		  		  	

  
 132(138)

							
	HF Transceiver	  		  		  	
	VHF Transceiver	  		  		  	
	PRAM Tape Reproducer (Pre Recorded PAX Address)	  		  		  	
	MPES Tape Reproducer (Audio Entertainment)	  		  		  	
	Tape Reproducer (Video Entertainment)	  		  		  	
	Audio Management Unit / SELCAL Decoder	  		  		  	
	Radio Management Panel	  		  		  	
	
	 ATA Chapter
25                    Equipment and Furnishings

	 Description
	  	 QTY
	  	 Manufacture / Model
	  	 Mfg. Part No.

	 Flight Crew Seat – Captain
	  		  		  	
	 Flight Crew Seat – First officer
	  		  		  	
	 Flight Crew Seat – 1st Observer
	  		  		  	
	 Flight Attendant Seat – FWD (L-1) Dbl
	  		  		  	
	 Flight Attendant Seat – AFT (L-2) Dbl
	  		  		  	
	 Flight Attendant Seat – AFT (L2/R2) Single
	  		  		  	
	 G-1 FWD Galley w/2 ovens, 2 coffee makers and 3 ATLAS Full carts
	  		  		  	
	 G-5 AFT Bulkhead Galley w/3 ovens, 2 coffee makers and 6 ATLAS Full carts
	  		  		  	
	 Business Class Seats – Cabin
	  		  		  	
	 Economy Class Seats – Cabin
	  		  		  	
	
	 ATA Chapter
27                    Flight Controls

	 Description
	  	 QTY
	  	 Manufacture /Model
	  	 Mfg. Part No.

	 ELAC – Elevator/Aileron Computer
	  		  		  	
	 FCDC – Flight Control Data Concentrator
	  		  		  	
	 FAC – Flight Augmentation Computer
	  		  		  	
	 SFCC – Slat/Flap Control Computer
	  		  		  	
	 SEC – Spoiler/Elevator Computer
	  		  		  	

  
 133(138)

							
	 ATA Chapter
28                    Fuel

	 Fuel Tanks
	  	 Fuel Capacity
Pounds
	  	 Fuel Capacity
Kilograms
	  	 Max Usable Fuel
US Gallons

	Left Wing Main, Maximum Allowable: *	  		  		  	
	Right Wing Main, Maximum Allowable: *	  		  		  	
	Center Win Maximum Allowable:	  		  		  	
	Maximum Allowable Total Fuel	  		  		  	
	* Source — Weights Approved Aircraft Flight Manual and TCDS A28NM Rev 8	  		  		  	
	Note: Based on a fuel density of 7.1 pounds per U.S. gallon.	  		  		  	
	Fuel Quantity Indication (Unit of Measure):	  		  		  	

  
  

							
	 ATA Chapter
31                    Independent Instruments

	 Description
	  	 QTY
	  	 Manufacture/Model
	  	 Mfg. Part No.

	CFDIU – Central Fault Display Interface	  		  		  	
	DFDR – Digital Flight Data Recorder	  		  		  	
	DFDIU – Digital Flight Data Interface Unit	  		  		  	
	DMU – Data Management Unit	  		  		  	
	DMC – Display Management Computer	  		  		  	
	Multifunction Printer	  		  		  	
	SDAC – Systems Data Acquisition Concentrator	  		  		  	
	Primacy Flt Display / Navigation Display	  		  		  	
	FWC – Flight Warning Computer	  		  		  	
	QAR – Quick Access Recorder	  		  		  	

  

							
	 ATA Chapter
32                    Landing Gear:

	 Description Position
	  	 Date
	  	 Hours
	  	 Cycles

	Left Main Landing Gear: Messier Dowty	  	P/N:                    
S/N:                    
	 Landing Gear Totals:
	  		  		  	
	 Last OH – Performed by:             
	  		  		  	
	 Overhaul Interval – MPD (TBO) (Soonest of)
	  		  		  	
	 Time Since Overhaul (TSO)
	  		  		  	
	 Remaining Time to Overhaul (MPD)
	  		  		  	
	 Remaining Time to First Life Limit
	  		  		  	
				
	 Description Position
	  	 Date
	  	 Hours
	  	 Cycles

	Right Main Landing Gear: Messier Dowty	  	P/N:                    
S/N:                    
	 Landing Gear Totals:
	  		  		  	
	 Last OH Performed by:
                    
	  		  	
	 Overhaul Interval – MPD (TBO) (Soonest of)
	  		  	

  
 134(138)

							
	Time Since Overhaul (TSO)	  		  	
	 Remaining Time to Overhaul (MPD)
	  		  	
	 Remaining Time to First Life Limit
	  		  	
				
	 Description Position
	  	 Date
	  	 Hours
	  	 Cycles

	 Nose Landing Gear: Messier Dowty:
	  	P/N:                     
S/N:                    
	 Landing Gear Totals:
	  		  		  	
	 Last OH – Performed by:             
	  		  		  	
	 Overhaul Interval – MPD (TBO) (Soonest of)
	  		  		  	
	 Time Since Overhaul (TSO)
	  		  		  	
	 Remaining Time to Overhaul (MPD)
	  		  		  	
	 Remaining Time to First Life Limit
	  		  		  	

  

							
	 Description
	  	 Qty
	  	 Manufacture /Model
	  	 Details

	 NLG Tires
	  	2	  		  	
	 MLG Tire
	  	4	  		  	
	 Brake Assembly
	  	4	  		  	
	
	 ATA Chapter
34                    Navigation

	 Description
	  	 QTY
	  	 Manufacture/Model
	  	 Mfg. Part No.

	ADIRU – Air Data Inertial Reference Unit	  		  		  	
	ADF – Automatic Direction Finder	  		  		  	
	ATC – Air Traffic Control Modes:	  		  		  	
	DME – Distance Measuring Equipment Interrogators	  		  		  	
	EGPWS – Enhanced Ground Proximity Warning System	  		  		  	
	Radio Altimeter	  		  		  	
	VHF – VOR Receiver	  		  		  	
	VHF – ILS Receiver	  		  		  	
	TCAS – Traffic Collision Avoidance System	  		  		  	
	Weather Radar Transceiver	  		  		  	

  

															
	 ATA Chapter
49                     Auxiliary Power – APU

	 Description Position
	  	 Pos
	  	 Manufacture / Model
	  	 Mfg. Part No.
	  	 Mfg. S/N

	Auxiliary Power Unit (APU)	  	1	  		  	

  

							
	 APU Status Description
	  	 Date
	  	 Hours
	  	 Cycles

	Total Time and Cycles Since New	  		  		  	
	APU Last Hot Section Insp.(HSI) – By:             	  		  		  	
	APU Time Since Overhaul (TSO)	  		  		  	
	APU Time Since Hot Section Inspection	  		  		  	

  
 135(138)

									
	 ATA Chapter 71
                     Power Plant

	 Description Position
	  	 Pos
	  	 Manufacture / Model
	  	 Mfg. Part No.
	  	 Mfg. S/N

	Engine	  	1	  	International Aero Engines	  		  	
	Engine	  	2	  	International Aero Engines	  		  	
	Thrust Rating - Maximum Continuous Static Sea Level	  		  		  		  	
	Thrust Rating - min Take-Off Static Sea Level	  		  		  		  	

  

							
	 Engine
#1                                         
                   IAE
	  	S/N:
	 Description Position
	  	 Date
	  	 Hours
	  	 Cycles

	 Engine Total Time (TSN)
	  		  		  	
	 Last Major Shop Visit Restoration
	  		  		  	
	 Time Since Last Shop Visit
	  		  		  	
	 Remaining Time to First Life Limit
	  		  		  	
		
	 Engine
#2                                         
                   IAE
	  	S/N:
	 Description Position
	  	 Date
	  	 Hours
	  	 Cycles

	 Engine Total Time (TSN)
	  		  		  	
	 Last Major Shop Visit Restoration
	  		  		  	
	 Time Since Last Shop Visit
	  		  		  	
	 Remaining Time to First Life Limit
	  		  		  	

  
 136(138)

 EXHIBIT J 
 FORM OF DEPOSIT AGREEMENT 
 SEE FOLLOWING PAGES 

  
 137(138)

 SECURITY DEPOSIT AGREEMENT 
 THIS SECURITY DEPOSIT AGREEMENT (HEREINAFTER THE “AGREEMENT”), IS ENTERED INTO ON THE             DAY OF MARCH, 2007, BY AND
BETWEEN ARRENDADORA FINANCIERA INBURSA, S.A. DE C.V. SOCIEDAD FINANCIERA DE OBJETO MULTIPLE, ENTIDAD REGULADA, GRUPO FINANCIERO INBURSA, AS DEPOSITORY (HEREINAFTER THE “DEPOSITORY” AND/OR “LESSOR”), AND ON
THE OTHER BY CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, S.A. DE C.V., AS DEPOSITOR (HEREINAFTER THE “DEPOSITOR” AND/OR “LESSEE”), IN ACCORDANCE WITH THE FOLLOWING RECITALS AND CLAUSES:

 RECITALS 
  

	I.	The Depository, by means of its legal representatives, states: 

  

	 	(a)	That it is a variable capital limited liability stock corporation, duly incorporated and validly existing in accordance with the Mexican laws. 

 

	 	(b)	That its representatives have all powers and faculties necessary to contract and be bound on behalf of the Depository, powers which have been revoked, modified or
limited in any form whatsoever as of the date of this Agreement. 

  

	 	(c)	That it wishes to execute this Agreement in accordance with the terms and conditions stated below. 

 

	II.	The Depositor, by means of its legal representative, states: 

  

	 	(a)	That it is a variable capital limited liability stock corporation, duly incorporated and validly existing in accordance with the Mexican laws. 

 

	 	(b)	That its representative has all powers and faculties necessary to contract and be bound on behalf of the Depository, powers which have been revoked, modified or limited
in any form whatsoever as of the date of this Agreement. 

  

	 	(c)	That it wishes to execute this Agreement in accordance with the terms and conditions stated below. 

 

	III.	Both parties, by means of their corresponding representatives, state: 

  

	 	(a)	 That on March 26, 2007, the Depositor, as lessee, and the Depository, as lessor, executed an aircraft lease agreement (hereinafter the
“Lease Agreement”), in order to lease the Lessee an Airbus aircraft model A319-133, with manufacturer series number 3077 equipped with two engines model V2527-MA5 of IAE with manufacturer’s series number V12561 and V12563
(hereinafter the “Aircraft”). 

	 	
Execution of this Agreement constitutes a condition to execute the Lease Agreement under the terms and conditions agreed upon between the parties, in order to establish a security in favor of the
Depository regarding the compliance with all and any of the obligations entrusted to the Depositor in accordance with the Lease Agreement. 

 The terms in capital letters used in this Agreement shall have the same meanings ascribed to such terms in the Lease Agreement unless otherwise defined in this Agreement. 

By virtue of the foregoing, based on the recitals included in this Agreement, the parties agree to comply with the following: 

CLAUSES 
 ONE. -
According to the terms and conditions stated in the Lease Agreement, as a security (i) for the payment of all the amounts payable or to be payable by Depositor; and (ii) for compliance with all obligations entrusted to the Depositor in
accordance with the Lease Agreement and any renewals, extensions and amendments thereto, Depositor shall have delivered or is to deliver in favor of the Depository, the total amount of *****, lawful currency of the United States of America), as
security deposit (the “Security Deposit”) as follows: 
  

	 	1.	The amount of ***** lawful currency of the United States of America), which has been delivered by the Depositor and that Depository states having received on
December 7, 2006. 

  

	 	2.	The amount of ***** lawful currency of the United States of America) that Depositor shall deliver the Depository upon delivery of the Aircraft in accordance with the
Lease Agreement. 

 The foregoing amounts have been or should be deposited through wire transfers of funds immediately available
to the following account: 
  

			
	BANK:	  	JP MORGAN CHASE N.Y.
	BENEFICIARY:	  	BANCO INBURSA
	ACCOUNT:	  	*****
	SWIFT:	  	*****
	ABA:	  	*****
	FINAL BENEFICIARY:	  	ARRENDADORA FINANCIERA INBURSA
		  	S.A. DE C.V.
	ACCOUNT OF FINAL BENEFICIARY:	  	*****

  
 ***** Confidential portions
of the material have been omitted and filed separately with the Securities and Exchange Commission. 
 2 

 TWO. - Security Deposit shall not accrue interests and may not be combined with the general funds of the
Depository in the manner that Depository deems reasonable. Notwithstanding the foregoing, once all the Lease Agreement amounts owed are fully paid and provided there is no failure to comply with payment by the Depositor according to the Lease
Agreement, and any of the conditions stated in Clause Six hereof have been complied with, Depository shall repay the amount of the Security Deposit originally delivered in accordance with the provisions stated in Clause Six. 

THREE. - The Security Deposit shall not release, excuse, reduce or in any form whatsoever modify compliance with the all and any of the obligations of
Depositor before the Depository at the time and in the manner set forth in the Lease Agreement, its exhibits or any document related thereto, nor shall correct any noncompliance by Depositor in accordance with the Lease Agreement. 

FOUR. - In the event there is any noncompliance by Depositor regarding its obligations stated in the Lease Agreement, and once the applicable grace
period has elapsed, in accordance with the Lease Agreement, if Depositor has not corrected the corresponding noncompliance, Depository may, but shall not be bound to, apply the Security Deposit to pay the compensation of any pending obligation of
Depositor in accordance with the Lease Agreement in the manner the Depository deems pertinent. 
 FIVE. - If Depository applies the Security
Deposit as indicated in Clause Four above, the Depository shall be bound, within the five (5) business days after the date when receiving notification in writing for such purpose by Depository, to deliver the Depository the amount necessary in
order to repay the amount of the Security Deposit to that originally delivered in accordance with the provisions set forth in Clause One above, and such amount should be repaid to the Depository with the corresponding Value Added Tax which has been
accrued due to the amount applied by the Depository of the Security Deposit. 
 Noncompliance by Depository to deliver the additional amount
referred to in the foregoing paragraph plus the corresponding Value Added Tax within the term indicated therein, shall be deemed as an event of default in accordance with the Lease Agreement in which event the Depository may exercise all and any of
the actions and rights available in accordance with such instrument. 
 SIX. - As long as (a) the Lease Agreement has not expired and
possession of the Aircraft has been returned to Depository as lessor in accordance with the provisions set forth in the Lease Agreement for such purpose, (b) the Lease Agreement has been early terminated as a result of a Total Loss occurred
before the Aircraft is delivered to Depositor as lessee, or else, as a result of a Total Loss of the Aircraft after Delivery thereof, subject to the fact that Depository as lessee has received the Value Agreed and that any Event of Default that may
exist at that time has been corrected to the extent allowed by the circumstances by reason of the Total Loss, (c) closure of the Purchase and Sale transaction of the Aircraft in favor of the Depository as purchaser, as a result of the
Assignment of Rights for Purchasing the 

  
 3 

 Aircraft in favor of the Depository as assignee, is not completed due to causes not attributable to
Depositor as assignor, (d) execution of the Lease Agreement is not performed due to causes not attributable to Depositor, or (f) all and any of the obligations of Depositor, in accordance with the Lease Agreement and all other documents
related thereto, including, without limitation, expenses, fees, taxes or dues, have been fully complied, and subject to the fact that there is no event of default in accordance with the Lease Agreement itself and once the possession of the Aircraft
has been returned to Depository as lessor in accordance with the Lease Agreement, the Depository shall reimburse the Depositor any remaining balance of the Security Deposit within the five (5) days after the date when the assumption referred to
above occurs. 
 SEVEN. - This Agreement shall become an integral part of the Lease Agreement, therefore, it shall prevail for all the time when
any obligation by Depositor under the Lease Agreement is not complied. 
 EIGHT. - All notices and notifications between the parties shall be in
writing, in Spanish and should be delivered (i) personally, with acknowledgement of receipt; (ii) by specialized courier service, with the acknowledgment of receipt; or (iii) via facsimile, followed by specialized courier service or
personally delivered, with acknowledgement of receipt. All notices and notifications shall be delivered to the following domiciles and facsimile numbers and shall become effective when personally delivered. 

The Depository 
 Paseo de las Palmas 736

 Col. Lomas de Chapultepec 

México, 11000, D.F. 
 Mexico C/O: Legal
Director 
 Tel. + 52 55 56 25 49 00 

Fax + 52 55 52 02 52 00 
 The Depositor

 Prolongación Paseo de la Reforma 490, Piso 1 
 Colonia Santa Fe 
 Mexico 01210, D.F. 
 México, C/O: 
 Tel: +52 55 52 61 64 00 

Fax: +52 55 52 61 64 60 
 NINE. - This Agreement
shall be governed by, and construed in accordance with the Mexican laws. For anything related to the construction, compliance and execution hereof, the parties shall expressly submit themselves to the jurisdiction of the competent courts for the
Federal District, expressly waiving to any other jurisdiction that may correspond thereto by virtue of their present or future domiciles or due to any other reason whatsoever. 

  
 4 

 By virtue of the foregoing, the parties execute this Agreement, by means of their legal representatives, in
three (3) counterparts, each of which shall be deemed an original and together the same instrument, on the date stated above. 
 [Next page is of signatures] 

  
 5 

 The Depositor 
 CONCESIONARIA VUELA COMPAÑÍA DE AVIACIÓN, S.A. DE C.V. 

			
		
	By:	 	 
	Name:	 	
	Position:	 	Attorney-in-fact

 The Depository 
 ARRENDADORA FINANCIERA INBURSA, S.A. DE C.V. SOCIEDAD FINANCIERA 
 DE OBJETO MULTIPLE, ENTIDAD
REGULADA, GRUPO FINANCIERO INBURSA 

			
		
	By:	 	 
	Name:	 	
	Position:	 	Attorney-in-fact

  

  
 6 

 EXHIBIT K 
 FORM OF LEGAL OPINION 
 SEE FOLLOWING PAGES 

  
 138(138)

 Exh K Legal Opinion Eng 
 [    ] March 2007 
 [INBURSA] 

Dear Sirs, 
 This opinion is furnished to you
pursuant to Section [ ] of the Aircraft Lease Agreement dated as of 26 March 2007 (the “Lease”) between Concesionaria Vuela, Compañia de Aviacion, S.A. de C.V. (the “Lessee”) and Arrendadora Financiera Inbursa,
S.A. de C.V. Sociedad Financiera de Objeto Multiple, Entidad Regulada, Grupo Financiero Inbursa, (the “Lessor”). Defined terms in this opinion are used herein as defined in the Lease. 

We have acted as counsel to Lessee, and have acted in such capacity in connection with the negotiation, preparation, authorization, execution and
delivery of, and the consummation of the transactions contemplated by the Lease. Unless otherwise specified, all capitalized terms used herein without definition shall have the meanings assigned to them in the Lease. 

Based upon the foregoing, we are of the following opinion: 
  

	 	1.	Lessee is a stock corporation of variable capital (sociedad anónima de capital variable) duly formed and validly existing under the General Law of
Commercial Partnerships (Ley General de Sociedades Mercantiles) of Mexico for an indefinite period, subject to suit in its own name, and is an air carrier of persons in scheduled air transportation and is registered, licensed or otherwise
authorized by the government of Mexico to engage in such activities. 

  

	 	2.	Lessee is validity existing as a corporation under the laws of the United Mexican States and has full corporate power and authority to enter into and perform its
obligations under the Lease. 

  

	 	3.	None of the execution and delivery of the Lease, the performance by Lessee of its obligations thereunder and the consummation of the transactions contemplated thereby
will conflict or result in any breach of, or constitute a default under, any applicable law, rule or regulation of the United Mexican States or any judgment or order applicable to Lessee, Lessee’s Charter documents (Escritura Constitutiva) or
any agreement, mortgage, or other instrument to which Lessee is party or by which it or its assets may be bound. 

  

	 	4.	The execution, delivery and performance by Lessee of the Lease have been approved by Lessee’s Board of Directors on
[            ]. 

  

	 	5.	Ownership of the Aircraft by Owner as Lessor, as defined in the Lease, cannot be charged, set aside, avoided or otherwise challenged by any person claiming interest
(whether proprietary, possessory or by way of security) in the Aircraft on the grounds of or in connection any labor process or in connection with the insolvency, concurso mercantil, bankruptcy or liquidation of Lessee.

  
 1 

 Exh K Legal Opinion Eng 

 

	 	6.	The constitution of Mexico guarantees the protection of property from expropriation or requisition without fair compensation. The Aircraft may, however, be detained
pursuant to court proceedings, which could be dismissed through the demonstration of title in accordance with the appropriate proceedings in each case. 

  

	 	7.	The Lease and the other Operative Documents have been duly executed and delivered by Lessee and constitute the legal, valid and binding obligations of Lessee
enforceable in accordance with their terms, subject to applicable concurso mercantil, bankruptcy, insolvency and similar laws affecting creditors’ rights generally. In addition, the validity or enforceability of certain of the remedies
provided for in the Lease may be limited by applicable law or judicially adopted principles which, in our judgment, do not make such remedies (taken as a whole) inadequate for the practical realization of the benefits afforded thereby.

  

	 	8.	All authorizations and approvals of any Mexican federal, state or municipal governmental department or agency required or necessary to authorize the execution, delivery
and performance by Lessee of the Lease or other Operative Documents, with respect to Lessee, for the legality, validity, binding effect or enforceability thereof have been obtained and are in full force and effect. 

 

	 	9.	Except for the registration of the Lease in the Registro Aeronáutico Mexicano (the “Registry”) and for the payment of registration duties
described below, no filing or recording of any instrument or document (including the filing or any financial statement) is necessary of the United Mexican States in order for the Lease to constitute a valid and perfected lease of record relating to
the Aircraft. 

  

	 	10.	The payment obligations of Lessee under the Lease rank at least equally and ratably (pari passu) in point of priority and security with all other unsecured and
unsubordinated obligations of Lessee. 

  

	 	11.	Application has been made with the Dirección General de Aeronáutica Civil, Secretaría de Comunicaciones y Transportes of the United Mexican
States (the “DGAC”) for registration in the Registry of the interest of Lessor as “Owner” and Lessor in the Aircraft and no other steps are necessary to (i) record or perfect Lessor’s interest in the Aircraft in the
United Mexican States or (ii) to fully establish and protect Lessor’s title to, in and property rights with respect to the Aircraft, as against Lessee or any third party claiming through Lessee or otherwise and to ensure that the rights of
Lessor therein will have priority in all respects over the claims of Lessee’s creditors. 

  

	 	12.	Upon termination of the Aircraft Lease (whether on expiry or otherwise), as contemplated in the Lease, the applicable Lessor shall be entitled:

  

	 	(1)	to repossess the Aircraft, subject to applicable law; 

  
 2 

 Exh K Legal Opinion Eng 

 

	 	(2)	to deregister the Aircraft; from the Registry of the DGAC after termination of the Lease, as provided by applicable law; and 

 

	 	(3)	to remove the Aircraft from the operating certificate of Lessee and export the Aircraft from the United Mexican States. 

After termination of the Lease due to the occurrence of an Event of Default or for any other reason as contemplated in the Lease, no
consents, approvals or licenses are required to Lessor repossess the Aircraft from Lessee. 
  

	 	13.	Except for the duties paid to the Registry for the registration of the Lease and as set forth in paragraph 19 below, there are no registration, stamps or other
taxes or duties of any kind payable in the United Mexican States in connection with the signature, performance or enforcement by legal proceedings of the Lease. 

 

	 	14.	Lessor will not become liable for any Tax in the United Mexican States other than tax on its income solely by reason of entering into the Lease with Lessee, or
performing its obligations thereunder, provided that rental payments shall be subject to 15% Value Added Tax payable by Lessee, no withholding tax is applicable pursuant to rental payments. With respect to any withholdings, the indemnification and
taxation provisions of the Lease are fully effective and enforceable in accordance with their terms. 

  

	 	15.	There is no litigation, proceeding or government investigation pending or overtly threatened against the Lessee which, if adversely determined, would have a material
adverse effect on the business, assets or financial condition of the Lessee. 

  

	 	16.	The choice of the laws of the United Mexican States to govern the Lease is valid under the laws of Mexico, and a Mexican court would uphold such choice of law.

  

	 	17.	Lessee is subject to private commercial law and suit. 

 I express no opinion as to any laws other than the laws of the United Mexican States. 
 Very Truly
yours, 
 [VOLARIS] 

  
 3EX-10.18

 Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the
information subject to the confidentiality request. Omissions are designated as [*****]. A complete version of this exhibit has been filed separately with the Securities and Exchange Commission. 

Exhibit 10.18 
  

 
 AIRCRAFT LEASE AGREEMENT

 Dated as of April 20, 2007 
 BETWEEN 
 CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 

as LESSEE 
 and

 INTERNATIONAL LEASE FINANCE CORPORATION 
 as LESSOR 
  
  

 

			
	Aircraft Make and Model:	  	New Airbus A319-100
	Aircraft Manufacturer’s Serial Number:	  	Per Estoppel and Acceptance Certificate
	Make and Model of Engines:	  	IAE V2524-A5
	Serial Numbers of Engines:	  	Per Estoppel and Acceptance Certificate

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1
	 	SUMMARY OF TRANSACTION	  	 	2	  
	 1.1
	 	Description of Aircraft	  	 	2	  
	 1.2
	 	Scheduled Delivery Date and Location	  	 	2	  
	 1.3
	 	Initial Lease Term	  	 	2	  
	 1.4
	 	Extension Lease Option	  	 	2	  
	 1.5
	 	Security Deposit	  	 	2	  
	 1.6
	 	Transaction Fee	  	 	3	  
	 1.7
	 	Rent During Lease Term	  	 	3	  
	 1.8
	 	Reserves	  	 	3	  
	 1.9
	 	Additional Rent for Excess Airframe and Engine Cycles	  	 	4	  
	 1.10
	 	Country of Aircraft Registration	  	 	4	  
	 1.11
	 	Agreed Value of Aircraft	  	 	4	  
	 1.12
	 	LESSOR’s Bank Account	  	 	5	  
			
	 ARTICLE 2
	 	DEFINITIONS	  	 	6	  
	 2.1
	 	General Definitions	  	 	6	  
	 2.2
	 	Specific Definitions	  	 	12	  
			
	 ARTICLE 3
	 	PLACE AND DATE OF DELIVERY	  	 	13	  
	 3.1
	 	Place of Delivery	  	 	13	  
	 3.2
	 	Scheduled Delivery Date	  	 	13	  
	 3.3
	 	Delivery subject to Manufacturer Delivery	  	 	13	  
	 3.4
	 	No LESSOR Liability	  	 	13	  
	 3.5
	 	Total Loss of Aircraft prior to Delivery	  	 	13	  
	 3.6
	 	Cancellation for Delay	  	 	13	  
			
	 ARTICLE 4
	 	LEASE TERM AND EXTENSION OPTION	  	 	14	  
	 4.1
	 	Initial Lease Term	  	 	14	  
	 4.2
	 	Lease Extension Option	  	 	14	  
	 4.3
	 	“Lease Term” and “Expiration Date”	  	 	14	  
	 4.4
	 	“Termination Date”	  	 	14	  
			
	 ARTICLE 5
	 	SECURITY DEPOSIT, TRANSACTION FEE, RENT, RESERVES AND OTHER PAYMENTS	  	 	15	  
	 5.1
	 	Security Deposit	  	 	15	  
	 5.2
	 	Transaction Fee	  	 	16	  
	 5.3
	 	Rent	  	 	16	  
	 5.4
	 	Reserves	  	 	18	  
	 5.5
	 	Additional Rent for Excess Cycles	  	 	18	  
	 5.6
	 	LESSOR’s Bank Account	  	 	19	  
	 5.7
	 	Default Interest	  	 	19	  
	 5.8
	 	No Deductions or Withholdings	  	 	19	  
	 5.9
	 	Value Added Taxes	  	 	20	  
	 5.10
	 	Wire Transfer Disbursement Report	  	 	20	  
	 5.11
	 	Net Lease	  	 	20	  
	 5.12
	 	Currency Indemnity	  	 	21	  
	 5.13
	 	LESSOR Performance of LESSEE Obligation	  	 	21	  
	 5.14
	 	Consideration for Rent and other Amounts	  	 	22	  

  

					
		  	i	  	TABLE OF CONTENTS

							
	ARTICLE 6	 	INVOLVEMENT WITH AIRCRAFT MANUFACTURER	  	 	23	  
	 6.1
	 	LESSEE Selection of Aircraft	  	 	23	  
	 6.2
	 	Participation Agreement	  	 	23	  
	 6.3
	 	Procurement of BFE	  	 	23	  
	 6.4
	 	Assignment of Training	  	 	23	  
	 6.5
	 	LESSEE Inspection of Aircraft	  	 	23	  
			
	ARTICLE 7	 	PRE-DELIVERY, DELIVERY AND POST-DELIVERY DOCUMENTARY AND OTHER REQUIREMENTS	  	 	25	  
	 7.1
	 	Pre-Delivery Requirements	  	 	25	  
	 7.2
	 	Delivery Requirements	  	 	26	  
	 7.3
	 	Post-Delivery Requirements	  	 	27	  
			
	ARTICLE 8	 	DISCLAIMERS AND WAIVERS	  	 	29	  
	 8.1
	 	“As Is, Where Is”	  	 	29	  
	 8.2
	 	Waiver of Warranty of Description	  	 	29	  
	 8.3
	 	LESSEE Waiver	  	 	30	  
	 8.4
	 	Conclusive Proof	  	 	30	  
	 8.5
	 	No Liability to Repair or Replace	  	 	30	  
	 8.6
	 	No Waiver	  	 	30	  
	 8.7
	 	Consideration for Waivers	  	 	30	  
			
	ARTICLE 9	 	MANUFACTURERS’ AND VENDORS’ WARRANTIES	  	 	32	  
	 9.1
	 	Warranties	  	 	32	  
	 9.2
	 	Reassignment	  	 	32	  
	 9.3
	 	Warranty Claims	  	 	32	  
			
	ARTICLE 10	 	OPERATION OF AIRCRAFT	  	 	33	  
	 10.1
	 	Costs of Operation	  	 	33	  
	 10.2
	 	Compliance with Laws	  	 	33	  
	 10.3
	 	Training	  	 	33	  
	 10.4
	 	No Violation of Insurance Policies	  	 	33	  
	 10.5
	 	Flight and Airport Charges	  	 	33	  
			
	ARTICLE 11	 	SUBLEASES	  	 	35	  
	 11.1
	 	No Sublease without LESSOR Consent	  	 	35	  
	 11.2
	 	LESSOR Costs	  	 	35	  
	 11.3
	 	Permitted Sublessees	  	 	35	  
	 11.4
	 	Any Approved Sublease	  	 	35	  
	 11.5
	 	Assignment of Sublease	  	 	35	  
	 11.6
	 	Application of Cape Town Convention	  	 	36	  
	 11.7
	 	Wet Leases	  	 	36	  
	 11.8
	 	Continued Responsibility of LESSEE	  	 	36	  
			
	ARTICLE 12	 	MAINTENANCE OF AIRCRAFT	  	 	37	  
	 12.1
	 	General Obligation	  	 	37	  
	 12.2
	 	Specific Engine Requirements	  	 	37	  
	 12.3
	 	Specific Obligations	  	 	38	  
	 12.4
	 	Replacement of Parts	  	 	40	  
	 12.5
	 	Removal of Engines	  	 	41	  
	 12.6
	 	Removal of APU	  	 	41	  

  

					
		  	ii	  	TABLE OF CONTENTS
		  		  	
		  		  	

							
	 12.7
	 	Pooling of Engines, APU and Parts	  	 	42	  
	 12.8
	 	Installation of Engines on other aircraft	  	 	42	  
	 12.9
	 	Modifications	  	 	43	  
	 12.10
	 	Performance of Work by Third Parties	  	 	44	  
	 12.11
	 	Reporting Requirements	  	 	44	  
	 12.12
	 	Maintenance Policies and Procedures Manuals	  	 	44	  
	 12.13
	 	LESSOR Inspection Rights	  	 	44	  
			
	ARTICLE 13	 	USE OF RESERVES	  	 	46	  
	 13.1
	 	Airframe Reserves (6 Year Check)	  	 	46	  
	 13.2
	 	Airframe Reserves (12 Year Check)	  	 	46	  
	 13.3
	 	Engine Performance Restoration Reserves	  	 	46	  
	 13.4
	 	Engine LLP Reserves	  	 	46	  
	 13.5
	 	Landing Gear Reserves	  	 	47	  
	 13.6
	 	APU Reserves	  	 	47	  
	 13.7
	 	Reimbursement	  	 	47	  
	 13.8
	 	Reimbursement Adjustment	  	 	48	  
	 13.9
	 	Costs in Excess of Reserves	  	 	49	  
	 13.10
	 	Reimbursement after Termination Date	  	 	49	  
	 13.11
	 	Total Loss	  	 	49	  
			
	ARTICLE 14	 	TITLE AND REGISTRATION	  	 	50	  
	 14.1
	 	Title to the Aircraft	  	 	50	  
	 14.2
	 	Registration of Aircraft	  	 	50	  
	 14.3
	 	Cape Town Convention	  	 	50	  
	 14.4
	 	Filing of this Lease	  	 	51	  
			
	ARTICLE 15	 	IDENTIFICATION PLATES	  	 	52	  
	 15.1
	 	Airframe Identification Plates	  	 	52	  
	 15.2
	 	Engine Identification Plates	  	 	52	  
			
	ARTICLE 16	 	TAXES	  	 	53	  
	 16.1
	 	General Obligation of LESSEE	  	 	53	  
	 16.2
	 	Exceptions to Indemnity	  	 	53	  
	 16.3
	 	After-Tax Basis	  	 	54	  
	 16.4
	 	Timing of Payment	  	 	55	  
	 16.5
	 	Contests	  	 	55	  
	 16.6
	 	Refunds	  	 	55	  
	 16.7
	 	Cooperation in Filing Tax Returns	  	 	55	  
	 16.8
	 	Survival of Obligations	  	 	55	  
			
	ARTICLE 17	 	INDEMNITIES	  	 	56	  
	 17.1
	 	General Indemnity	  	 	56	  
	 17.2
	 	Exceptions to General Indemnities	  	 	57	  
	 17.3
	 	After-Tax Basis	  	 	57	  
	 17.4
	 	Timing of Payment	  	 	58	  
	 17.5
	 	Subrogation	  	 	58	  
	 17.6
	 	Notice	  	 	58	  
	 17.7
	 	Refunds	  	 	58	  
	 17.8
	 	Defense of Claims	  	 	58	  
	 17.9
	 	No Double Recovery	  	 	58	  
	 17.10
	 	Survival of Obligation	  	 	58	  

  

					
		  	iii	  	TABLE OF CONTENTS
		  		  	
		  		  	

							
	 ARTICLE 18
	 	 INSURANCE
	  	 	59	  
	 18.1
	 	 Categories of Insurance
	  	 	59	  
	 18.2
	 	 Write-back of any Date Recognition Exclusion
	  	 	59	  
	 18.3
	 	 Write-backs of LSW555
	  	 	59	  
	 18.4
	 	 Installation of Third Party Engine
	  	 	59	  
	 18.5
	 	 LESSOR Coverage for LESSEE’s Employees
	  	 	59	  
	 18.6
	 	 Insurance for Indemnities
	  	 	59	  
	 18.7
	 	 Insurance required by Manufacturer
	  	 	60	  
	 18.8
	 	 Renewal
	  	 	60	  
	 18.9
	 	 Assignment of Rights by LESSOR
	  	 	60	  
	 18.10
	 	 Insurance for Wet Lease Operations
	  	 	60	  
	 18.11
	 	 Other Insurance
	  	 	60	  
	 18.12
	 	 Information
	  	 	61	  
	 18.13
	 	 Currency
	  	 	61	  
	 18.14
	 	 Grounding of Aircraft
	  	 	61	  
	 18.15
	 	 Failure to Insure
	  	 	61	  
	 18.16
	 	 Reinsurance
	  	 	61	  
	 18.17
	 	 Limit on Hull in favor of LESSEE
	  	 	61	  
			
	 ARTICLE 19
	 	 LOSS, DAMAGE AND REQUISITION
	  	 	63	  
	 19.1
	 	 Definitions
	  	 	63	  
	 19.2
	 	 Notice of Total Loss
	  	 	64	  
	 19.3
	 	 Total Loss of Aircraft or Airframe
	  	 	64	  
	 19.4
	 	 Surviving Engine(s)
	  	 	65	  
	 19.5
	 	 Total Loss of Engine and not Airframe
	  	 	65	  
	 19.6
	 	 Total Loss of APU
	  	 	66	  
	 19.7
	 	 Other Loss or Damage
	  	 	67	  
	 19.8
	 	 Copy of Insurance Policy
	  	 	67	  
	 19.9
	 	 Government Requisition
	  	 	67	  
			
	 ARTICLE 20
	 	 REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSEE
	  	 	68	  
	 20.1
	 	 Representations and Warranties
	  	 	68	  
	 20.2
	 	 Covenants
	  	 	70	  
			
	 ARTICLE 21
	 	 REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSOR
	  	 	73	  
	 21.1
	 	 Representations and Warranties
	  	 	73	  
	 21.2
	 	 Covenant of Quiet Enjoyment
	  	 	73	  
			
	 ARTICLE 22
	 	 FINANCIAL AND OTHER INFORMATION
	  	 	74	  
	 ARTICLE 23
	 	 RETURN OF AIRCRAFT
	  	 	75	  
	 23.1
	 	 Date of Return
	  	 	75	  
	 23.2
	 	 Last Engine Shop Visits
	  	 	75	  
	 23.3
	 	 Technical Report
	  	 	75	  
	 23.4
	 	 Return Location
	  	 	75	  
	 23.5
	 	 Full Aircraft Documentation Review
	  	 	75	  
	 23.6
	 	 Maintenance Policies and Procedures Manuals
	  	 	76	  
	 23.7
	 	 Aircraft Inspection
	  	 	76	  
	 23.8
	 	 Certificate of Airworthiness Matters
	  	 	77	  
	 23.9
	 	 General Condition of Aircraft at Return
	  	 	77	  

  

					
		  	iv	  	TABLE OF CONTENTS

							
	 23.10
	 	 Cheeks Prior to Return
	  	 	81	  
	 23.11
	 	 Part Lives
	  	 	83	  
	 23.12
	 	 Export and Deregistration of Aircraft
	  	 	85	  
	 23.13
	 	 Delay in Return of Aircraft Due to LESSOR Work Requests
	  	 	85	  
	 23.14
	 	 LESSEE’s Continuing Obligations
	  	 	86	  
	 23.15
	 	 Airport and Navigation Charges
	  	 	86	  
	 23.16
	 	 Return Acceptance Receipt
	  	 	87	  
	 23.17
	 	 Indemnities and Insurance
	  	 	87	  
	 23.18
	 	 Storage
	  	 	87	  
			
	 ARTICLE 24
	 	 ASSIGNMENT
	  	 	88	  
	 24.1
	 	 No Assignment by LESSEE
	  	 	88	  
	 24.2
	 	 Sale or Assignment by LESSOR
	  	 	88	  
	 24.3
	 	 LESSOR’s Lender
	  	 	89	  
	 24.4
	 	 LESSEE Cooperation
	  	 	89	  
	 24.5
	 	 Advance Consent Under Cape Town Convention
	  	 	89	  
	 24.6
	 	 Protections
	  	 	89	  
			
	 ARTICLE 25
	 	 DEFAULT OF LESSEE
	  	 	91	  
	 25.1
	 	 LESSEE Notice to LESSOR
	  	 	91	  
	 25.2
	 	 Events of Default
	  	 	91	  
	 25.3
	 	 LESSOR’s General Rights
	  	 	93	  
	 25.4
	 	 Deregistration and Export of Aircraft
	  	 	94	  
	 25.5
	 	 Cape Town Convention Remedies
	  	 	94	  
	 25.6
	 	 LESSEE Liability for Damages
	  	 	95	  
	 25.7
	 	 Waiver of Default
	  	 	96	  
	 25.8
	 	 Present Value of Payments
	  	 	96	  
	 25.9
	 	 Use of “Termination Date”
	  	 	96	  
			
	 ARTICLE 26
	 	 NOTICES
	  	 	97	  
	 26.1
	 	 Manner of Sending Notices
	  	 	97	  
	 26.2
	 	 Notice Information
	  	 	97	  
			
	 ARTICLE 27
	 	 ARBITRATION
	  	 	98	  
	 27.1
	 	 Arbitration of Any Dispute
	  	 	98	  
	 27.2
	 	 Notice of Arbitration
	  	 	98	  
	 27.3
	 	 Rules for Arbitration
	  	 	98	  
	 27.4
	 	 Number of Arbitrators
	  	 	98	  
	 27.5
	 	 Appointment of Arbitrator by Each Party
	  	 	98	  
	 27.6
	 	 Appointment of Lead Arbitrator
	  	 	98	  
	 27.7
	 	 Location of Arbitration
	  	 	98	  
	 27.8
	 	 Language for Arbitration
	  	 	98	  
	 27.9
	 	 Interim Measures of Protection
	  	 	98	  
	 27.10
	 	 Substantive Law
	  	 	99	  
	 27.11
	 	 Decision
	  	 	99	  
	 27.12
	 	 Prevailing Party in Dispute
	  	 	99	  
	 27.13
	 	 Waiver
	  	 	99	  
			
	 ARTICLE 28
	 	 GOVERNING LAW AND JURISDICTION
	  	 	100	  
	 28.1
	 	 California Law
	  	 	100	  
	 28.2
	 	 Non-Exclusive Jurisdiction in California
	  	 	100	  

  

					
		  	v	  	TABLE OF CONTENTS

							
	28.3	 	Protection of Interest in the Aircraft	  	 	100	  
	28.4	 	LESSOR Actions in Certain Jurisdictions	  	 	100	  
	28.5	 	Personal Jurisdiction	  	 	100	  
	28.6	 	Service of Process	  	 	100	  
	28.7	 	Prevailing Party in Dispute	  	 	101	  
	28.8	 	Future Amendments or Agreements	  	 	101	  
	28.9	 	Waiver	  	 	101	  
			
	ARTICLE 29	 	MISCELLANEOUS	  	 	102	  
	29.1	 	Press Releases	  	 	102	  
	29.2	 	Power of Attorney	  	 	102	  
	29.3	 	LESSOR Performance for LESSEE	  	 	102	  
	29.4	 	LESSOR’s Payment Obligations	  	 	102	  
	29.5	 	Application of Payments	  	 	102	  
	29.6	 	Usury Laws	  	 	102	  
	29.7	 	Delegation by LESSOR	  	 	103	  
	29.8	 	Confidentiality	  	 	103	  
	29.9	 	Rights of Parties	  	 	103	  
	29.10	 	Further Assurances	  	 	103	  
	29.11	 	Translations of Lease	  	 	103	  
	29.12	 	Use of Word “including”	  	 	103	  
	29.13	 	Headings	  	 	104	  
	29.14	 	Invalidity of any Provision	  	 	104	  
	29.15	 	Negotiation	  	 	104	  
	29.16	 	Time is of the Essence	  	 	104	  
	29.17	 	Amendments in Writing	  	 	104	  
	29.18	 	Consents Not to be Delayed	  	 	104	  
	29.19	 	Counterparts	  	 	104	  
	29.20	 	Delivery of Documents by Fax or E-mail	  	 	104	  
	29.21	 	Entire Agreement	  	 	104	  

  

					
		  	vi	  	TABLE OF CONTENTS

 AIRCRAFT LEASE AGREEMENT 

THIS AIRCRAFT LEASE AGREEMENT (together with all Exhibits hereto, the “Lease”) is made and entered into as
of April 20, 2007. 
 BETWEEN: 
 CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V., a Mexican company whose principal place of business is at Prolongacion Paseo de la Reforma No. 490, Piso 1 (Edificio GE), Santa Fe Pena Blanca,
Del. Alvaro Obregon, Mexico, D.F., Mexico 01210 (“LESSEE”); and 
 INTERNATIONAL LEASE FINANCE
CORPORATION, a California corporation whose principal place of business is at 10250 Constellation Boulevard, 34th Floor, Los Angeles, California 90067, United States of America (“LESSOR”). 

The subject matter of this Lease is one (1) new Airbus A319-100 aircraft. In consideration of and subject to the mutual covenants,
terms and conditions contained in this Lease, LESSOR hereby agrees to lease to LESSEE and LESSEE hereby agrees to lease from LESSOR the aircraft and the parties further agree as follows: 

  
 1 

	 	ARTICLE 1	SUMMARY OF TRANSACTION 

 The following is a summary of the lease transaction between LESSEE and LESSOR. It is set forth for the convenience of the parties only and will not be deemed in any way to amend, detract from or
simplify the other provisions of this Lease. 
 1.1 Description of Aircraft 

One new Airbus A319-100 aircraft 
 1.2 Scheduled Delivery Date and Location 
 In the month of
April 2008 in Hamburg, Germany 
 1.3 Initial Lease Term 

10 years 
 1.4 Extension
Lease Option 
 Two (2) lease extension options of one (1) year each 

1.5 Security Deposit 
 ***** payable as follows (in U.S. Dollars): 
  

					
	Payment Date	  	Amount	 
	 Received
	  	 	*****	  
	 Within two (2) business days after execution of the lease
	  	 	*****	  
	 May 1, 2007
	  	 	*****	  
	 June 1, 2007
	  	 	*****	  
	 July 1, 2007
	  	 	*****	  
	 August 1, 2007
	  	 	*****	  
	 September 1, 2007
	  	 	*****	  
	 October 1, 2007
	  	 	*****	  
	 November 1, 2007
	  	 	*****	  

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	2	  	ARTICLE 1
		  		  	SUMMARY OF TRANSACTION

 1.6 Transaction Fee 
 Blank page – please query 
 1.7 Rent During Lease Term 

Blank page – please query 

1.8 Reserves 

Blank page – please query 

  

					
		  	3	  	ARTICLE 1
		  		  	SUMMARY OF TRANSACTION

			
	Type of Reserves	  	Amount of Reserves
		
	Airframe Reserves (6 Year Check):	  	***** per calendar month
		
	Airframe Reserves (12 Year Check):	  	***** per calendar month
		
	Engine Performance Restoration Reserves:	  	***** per engine flight hour for each engine (payable when the engine is utilized on the aircraft or another aircraft)
		
	Engine LLP Reserves:	  	***** per engine cycle for each engine (payable when the engine is utilized on the aircraft or another aircraft)
		
	 Landing Gear Reserves:
 APU
Reserves:
	  	 ***** per calendar month
 *****
per APU hour (payable when the APU is utilized on the aircraft or another aircraft)

  

	*	All reserves are subject to an annual escalation rate of ***** (compounded yearly) on January 1, 2009 and on each one-year anniversary thereof.

 1.9 Additional Rent for Excess Airframe and Engine Cycles 

***** for each cycle the airframe and ***** for each cycle an engine has operated, calculated as of the end of the ease term, in excess
of the maximum number of cycles which would result from an hour/cycle ratio of 1.25 hours to 1 cycles 
 1.10 Country of
Aircraft Registration 
 United States 
 1.11 Agreed Value of Aircraft 
 An amount equal to ***** of the
manufacturer’s list price for the aircraft on the delivery date, which will be decreased by ***** of such amount on each yearly anniversary of the delivery date 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	4	  	ARTICLE 1
		  		  	SUMMARY OF TRANSACTION

 1.12 LESSOR’s Bank Account 

International Lease Finance Corporation 
 ***** 
 JPMorgan Chase Bank 

270 Park Avenue 

New York, New York 10017 
 ***** 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	5	  	ARTICLE 1
		  		  	SUMMARY OF TRANSACTION

	 	ARTICLE 2	DEFINITIONS 

Except where the context otherwise requires, the following words have the following meanings for all purposes of this Lease. The
definitions are equally applicable to the singular and plural forms of the words. Any agreement defined below or in this Lease includes each amendment, modification, supplement and waiver thereto in effect from time to time. 

2.1 General Definitions. 
 “Aircraft” means the Airframe, two (2) Engines, APU, Parts and Aircraft Documentation, collectively. As the context requires, “Aircraft” may also mean the Airframe,
any Engine, the APU, any Part, the Aircraft Documentation or any part thereof individually. For example, in the context of return to LESSOR the term “Aircraft” means the Airframe, Engines, APU, Parts and Aircraft Documentation
collectively, yet in the context of LESSEE not creating any Security Interests other than Permitted Liens on the Aircraft, the term “Aircraft” means any of the Airframe, any Engine, the APU, any Part or the Aircraft Documentation
individually. 
 “Aircraft Documentation” means all (a) log books, Aircraft records,
manuals and other documents provided to LESSEE in connection with the Aircraft, (b) documents listed in the Estoppel and Acceptance Certificate and Exhibit N and (c) any other documents required to be maintained during the Lease Term
and until the Termination Date by the Aviation Authority, LESSEE’s Maintenance Program and this Lease. 

“Airframe” means the airframe listed in the Estoppel and Acceptance Certificate executed at
Delivery together with all Parts relating thereto (excluding each Basic Engine or engines and the APU). 

“Airworthiness Directives” or “ADs” means all airworthiness directives (or
equivalent) applicable to the Aircraft issued by any one or more of the Aviation Authority, DGAC, FAA and EASA. 

“APU” means (a) the auxiliary power unit of the Aircraft listed in the Estoppel and
Acceptance Certificate executed at Delivery, (b) any replacement auxiliary power unit acquired by LESSOR and leased to LESSEE pursuant to Article 19.6 following a Total Loss of the APU and (c) all Parts installed in or on such APU at
Delivery (or substituted, renewed or replacement Parts in accordance with this Lease) so long as title thereto is or remains vested in LESSOR in accordance with the terms of Article 12.4. 

“Aviation Authority” means the Federal Aviation Administration of the Department of Transportation
or any successor thereto under the Laws of the United States of America or any Government Entity which under the Laws of the United States of America from time to time has control over civil aviation or the registration, airworthiness or operation
of 

  

					
		  	6	  	ARTICLE 2
		  		  	DEFINITIONS

 
aircraft in the United States of America. If the Aircraft is registered in a country other than the United States of America, “Aviation Authority” means the agency which regulates civil
aviation in such other country. 
 “Aviation Documents” means any or all of the following
which at any time may be obtainable from the Aviation Authority: (a) if required, a temporary certificate of airworthiness from the Aviation Authority allowing the Aircraft to be flown after Delivery to the State of Registration, (b) an
application for registration of the Aircraft with the appropriate authority in the State of Registration, (c) the certificate of registration for the Aircraft issued by the State of Registration, (d) a Standard Certificate of Airworthiness
for the Aircraft specifying, transport category (passenger), (e) an air transport license, (f) an air operator’s certificate, (g) such recordation of LESSOR’s title to the Aircraft and interest in this Lease as may be
available in the State of Registration and (h) all such other authorizations, approvals, consents and certificates, if any, in the State of Registration as may be required to enable LESSEE lawfully to operate the Aircraft. 

“Basic Engine” means, with respect to an Engine, the Engine Manufacturer’s engine modules,
components and systems as specified in the Engine Manufacturer’s delivered bill of material for that engine model. The “Basic Engine” does not include the nacelle, installed components related to the Aircraft systems, thrust
reversers, quick engine components (QEC), primary exhaust nozzle and any other Parts which are not considered by the Engine Manufacturer to be part of a “basic engine”. 

“BFE” means any equipment which is to be provided by the purchaser of the Aircraft (whether
actually provided by LESSOR as buyer-furnished equipment or Manufacturer as seller-purchased equipment). 

“Business Day” means a day other than a Saturday or Sunday on which the banks in the city where
LESSOR’s Bank is located are open for the transaction of business of the type required by this Lease and except in respect of payments of Rent, Mexico City, Mexico. 

“Cape Town Convention” means both the Convention and the Protocol. 

“Consolidated Text” means the Consolidated Text of the Convention on International Interests in
Mobile Equipment and the Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment. 
 “Convention” means the Convention on International Interests in Mobile Equipment which was adopted on November 16, 2001 at a diplomatic conference held in Cape Town, South
Africa as it may be amended from time to time. 
 “Creditor” means any lessor, owner,
bank, lender, mortgagee or other Person which is the owner of or has any interest in an aircraft engine or aircraft operated by LESSEE. 

  

					
		  	7	  	ARTICLE 2
		  		  	DEFINITIONS

 “Creditor Agreement” means the applicable agreement
between a Creditor and LESSEE or between Creditors pursuant to which such Creditor owns, leases or has an interest in either an aircraft operated by LESSEE on which an Engine may be installed or in an aircraft engine which may be installed on the
Airframe. 
 “Default” means any event which, upon the giving of notice, the lapse of
time and/or a relevant determination, would constitute an Event of Default. 
 “Delivery”
means the delivery of the Aircraft from LESSOR to LESSEE pursuant to Articles 3 and 6. 

“Delivery Date” means the date on which Delivery takes place. 

“DGAC” means the French Direction Generale de l’Aviation Civile or any successor thereto.

 “Dollars”, “$” and “US$” mean the
lawful currency of the U.S. 
 “EASA” means the European Aviation Safety Agency or any
successor thereto. Where it is stated in this Lease that a repair station or a repair, overhaul or maintenance facility will be an “EASA-approved” station or facility, such station or facility must be approved by EASA to perform
maintenance and repair work on the Aircraft, an Engine or Part submitted to it for maintenance or repair, as applicable. 
 “Engine” means (a) each of the engines listed on the Estoppel and Acceptance Certificate; (b) any replacement engine acquired by LESSOR and leased to LESSEE pursuant to
Article 19.5 following a Total Loss of an Engine; and (c) all Parts installed in or on any of such engines at Delivery (or substituted, renewed or replacement Parts in accordance with this Lease) so long as title thereto is or remains
vested in LESSOR in accordance with the terms of Article 12.4. 
 “Eurocontrol”
means the European Organization for the Safety of Air Navigation established by the Convention related to the Co-operation for the Safety of Air Navigation (Eurocontrol) signed on December 13, 1960, as amended. 

“Engine Manufacturer” means IAE International Engines A.G. 

“Event of Default” means any of the events referred to in Article 25.2. 

“FAA” means the Federal Aviation Administration of the U.S. Department of Transportation or any
successor thereto under the Laws of the U.S. Where it is stated in this Lease that a repair station or a repair, overhaul or maintenance facility will be an “FAA-approved” station or facility, such station or facility must be approved by
the FAA to perform maintenance and repair work on the Aircraft, an Engine or Part, as applicable. 

  

					
		  	8	  	ARTICLE 2
		  		  	DEFINITIONS

 “FARs” means the U.S. Federal Aviation Regulations
embodied in Title 14 of the U.S. Code of Federal Regulations, as amended from time to time, or any successor regulations thereto. 
 “Geneva Convention” means the Convention on the International Recognition of Rights in Aircraft signed in Geneva, Switzerland on June 19, 1948. 

“Government Entity” means any (a) national, state or local government, (b) board,
commission, department, division, instrumentality, court, agency or political subdivision thereof or (c) association, organization or institution of which any of the entities listed in (a) or (b) is a member or to whose jurisdiction
any such entity is subject. 
 “International Registry” means the international
registration facilities established for the purposes of the Cape Town Convention. 

“JAA” means the Joint Aviation Authorities, an associated body of the European Civil Aviation
Conference. 
 “JARs” means the EASA/JAA regulations, as amended from time to time, or
any successor regulations thereto. 
 “Landing Gear” means the installed main and nose
landing gear, components and their associated actuators, side braces and parts. 
 “Law”
means any (a) statute, decree, constitution, regulation, order or any directive of any Government Entity, (b) treaty, pact, compact or other agreement to which any Government Entity is a signatory or party, (c) judicial or
administrative interpretation or application of any of the foregoing or (d) any binding judicial precedent having the force of law. 
 “LESSOR’s Lien” means any Security Interest created by or through LESSOR. 
 “Maintenance Program” means LESSEE’s maintenance program as approved by the Aviation Authority or such other maintenance program as LESSOR may, acting reasonably, accept in
writing. 
 “Manufacturer” means Airbus S.A.S. 

“Mexico” means the United Mexican States. 

  

					
		  	9	  	ARTICLE 2
		  		  	DEFINITIONS

 “MPD” means the then-current Maintenance Planning
Document published by Manufacturer and applicable to the Aircraft. With respect to the hour/cycle/calendar time limitation of Parts and inspections, references to the MPD mean the most restrictive limitation set forth therein. 

“Overhaul” means the full reconditioning of the Aircraft, an Engine, the APU, Landing Gear, module
or Part, as the case may be, in which such equipment has been fully disassembled, cleaned, thoroughly inspected and returned to the highest standard specified by the applicable manufacturer’s manual. 

“Part” means any part, component, appliance, system module, engine module, accessory, material,
instrument, communications equipment, furnishing, LESSEE-furnished or LESSOR-purchased equipment or other item of equipment (other than complete Engines or engines or the APU) for the time being installed in or attached to the Airframe, any Engine
or the APU or which, having been removed from the Airframe, any Engine or the APU, remains the property of LESSOR in accordance with Article 12.4. 
 “Permitted Lien” means (a) LESSOR’s Liens; (b) Security Interests arising in the ordinary course of LESSEE’s business for Taxes either not yet assessed or, if
assessed, not yet due or being contested in good faith in accordance with Article 16.5 or (c) materialmen’s, mechanics’, workmen’s, repairmen’s, employees’ liens or similar Security Interests arising by operation
of Law after the Delivery Date in the ordinary course of LESSEE’s business for amounts which are either not yet due or are being contested in good faith by appropriate proceedings (and for which adequate reserves have been made or, when
required in order to pursue such proceedings, an adequate bond has been provided) so long as such proceedings do not involve any material likelihood of sale, forfeiture or loss of the Aircraft. 

“Person” means any individual, firm, partnership, joint venture, trust, corporation, company,
Government Entity, committee, department, authority or any body, incorporated or unincorporated, whether having distinct legal personality or not. 
 “Prime Rate” means the rate of interest from time to time announced by JPMorgan Chase Bank in New York as its prime commercial lending rate. 

“Prohibited Country” means any country other than Mexico to which the export and/or use of an
Airbus A319-100 aircraft with V2524 engines attached thereto is not permitted under (a) any United Nations sanctions, (b) the Council Regulation (EC) No. 149/2003 which updates and amends Council Regulation (EC) 1334/2000,
(c) the United States Export Administration Act 1979 (as amended) or any successor legislation and/or the Export Administration Regulations promulgated thereunder, (d) where applicable, the various regulations administered from time to
time by the Office of Foreign Assets Control of the U.S. Treasury Department, (e) any similar or corresponding legislation then in effect in the U.S., the United Kingdom, France, Spain or Germany or (f) any subsequent United Nations
Sanctions 

  

					
		  	10	  	ARTICLE 2
		  		  	DEFINITIONS

 
Orders the effect of which prohibits or restricts the export and/or use of Airbus A319-100 aircraft with V2524 engines attached thereto to such country. Prohibited Country will be defined by
applicable regulations as modified, amended or superceded from time to time. 

“Protocol” means the Protocol to the Convention on International Interests in Mobile Equipment on
Matters specific to Aircraft Equipment which was adopted on November 16, 2001 at a diplomatic conference held in Cape Town, South Africa, as it may be amended from time to time. 

“Return Check” means the accomplishment of the subsequent “C” check (or equivalent) of
the Aircraft in accordance with the MPD (including all non-routine work generated as a result of performance of such MPD tasks) to clear the Aircraft for the next 20 months, 6,000 hours and 4,500 cycles of operation from the Termination Date. For
avoidance of doubt, if the inspection interval pursuant to the MPD for a particular task only refers to one or two of the three measurements above (i.e. months, hours or cycles), then only those particular measurements referred to in the MPD will be
utilized in determining whether the task must be performed. 
 “Qualified Performance
Restoration” means that the gaspath core major module of an Engine shall have, as a minimum, a Refurbishment accomplished in accordance with the Engine Manufacturer’s current V2500 Maintenance Management Plan recommendations. The
gaspath core major module shall consist of the high pressure compressor module, diffuser/combustor group, outer/inner combustion chambers, No. 4 bearing, high pressure turbine stage one nozzle vane group and high pressure turbine module. For
the sole purposes of this paragraph, the term “Refurbishment” means the Engine Manufacturer’s definition of a refurbishment as stated in the then-current V2500 Maintenance Management Plan recommendations at the time of the applicable
shop visit. 
 “Security Interest” means any encumbrance or security interest, however
and wherever created or arising including (without prejudice to the generality of the foregoing) any right of ownership, security, mortgage, pledge, charge, encumbrance, lease, lien, statutory or other right in rem, hypothecation, title retention,
attachment, levy, claim or right of possession or detention. 
 “State of Registration”
means the U.S. or such other country or state of registration of the Aircraft as LESSOR may, in its absolute discretion, approve in writing. 
 “U.S.” or “U.S.A.” means the United States of America. 

  

					
		  	11	  	ARTICLE 2
		  		  	DEFINITIONS

 2.2 Specific Definitions. The following terms are defined in the Articles referenced below:

  

			
	Terms	  	Article
	 Agreed Value
	  	19.1
	 Airframe Reserves (6 Year Check)
	  	5.4.1
	 Airframe Reserves (12 Year Check)
	  	5.4.1
	 APU Reserves
	  	5.4.1
	 Default Interest
	  	5.7
	 Delivery Location
	  	3.1
	 Engine LLP Reserves
	  	5.4.1
	 Engine Performance Restoration Reserves
	  	5.4.1
	 Expenses
	  	17.1
	 Expiration Date
	  	4.3
	 Extension Lease Term
	  	4.2
	 FHA Agreement
	  	13.3
	 Future Agreements
	  	28.8
	 Indemnitees
	  	17.1
	 Initial Lease Term
	  	4.1
	 Landing Gear Reserves
	  	5.4.1
	 Lease Term
	  	4.1
	 LESSEE Customization Costs
	  	5.3.1
	 LESSOR’s Assignee
	  	24.2.1
	 LESSOR’s Bank
	  	5.6
	 LESSOR’s Lender
	  	24.3
	 Modification
	  	12.9.1
	 Net Total Loss Proceeds
	  	19.1
	 OEM Parts
	  	12.2.2
	 Operative Documents
	  	20.1.3
	 PMA Parts
	  	12.2.2
	 Rent
	  	5.3.1
	 Reorganization Transaction
	  	20.2.5
	 Reorganized Entity
	  	20.2.5
	 Reserves
	  	5.4.1
	 Scheduled Delivery Date
	  	3.2
	 Security Deposit
	  	5.1.1
	 Taxes
	  	16.1
	 Termination Date
	  	4.4
	 Total Loss
	  	19.1
	 Total Loss Date
	  	19.1
	 Total Loss Proceeds
	  	19.1
	 Transaction Fee
	  	5.2
	 Transfer
	  	24.2.1
	 Waste Expense
	  	13.4

  

					
		  	12	  	ARTICLE 2
		  		  	DEFINITIONS

	 	ARTICLE 3	PLACE AND DATE OF DELIVERY 

 3.1
Place of Delivery. LESSOR will deliver the Aircraft to LESSEE at Manufacturer’s facility in Hamburg, Germany or such other place as may be agreed in writing between the parties (the “Delivery Location”).

 3.2 Scheduled Delivery Date. As of the date of this Lease, delivery of the Aircraft from Manufacturer to LESSOR and LESSOR to
LESSEE is scheduled to occur in the month of April 2008. LESSOR will notify LESSEE from time to time and in a timely manner of the exact date on which LESSOR expects Delivery to take place (the “Scheduled Delivery
Date”). 
 3.3 Delivery subject to Manufacturer Delivery. LESSOR and LESSEE expressly acknowledge that Delivery of
the Aircraft to LESSEE is subject to and conditioned upon delivery of the Aircraft by Manufacturer to LESSOR. 
 3.4 No LESSOR
Liability. LESSOR will not be liable for any loss or expense, or any loss of profit, arising from any delay or failure in Delivery to LESSEE unless such delay or failure arises as a direct consequence of the willful misconduct of LESSOR, and
in no event will LESSOR be liable for any delay or failure which is caused by any breach or delay on the part of Manufacturer or any BFE supplier. 
 3.5 Total Loss of Aircraft prior to Delivery. If a Total Loss of the Aircraft occurs prior to Delivery, neither party will have any further liability to the other except that LESSOR will
return to LESSEE the Security Deposit in accordance with Article 5.1.3 and any prepaid Rent. 
 3.6 Cancellation for Delay.
Promptly after LESSOR becomes aware that in Manufacturer’s opinion a delay will cause Delivery to be delayed beyond October 30, 2008, LESSOR will notify LESSEE. By written notice given within ten (10) Business Days after LESSEE’s
receipt of such LESSOR notice, either party may by written notice to the other party terminate this Lease and this Lease will terminate on the date of receipt of such notice. In the event of such termination, neither party will have any further
liability to the other party except that LESSOR will return to LESSEE the Security Deposit in accordance with Article 5.1.3 and any prepaid Rent, and if LESSOR subsequently collects (at its discretion) from Manufacturer monetary damages as
compensation for such delay, LESSOR shall share such compensation (minus any out of pocket costs incurred by LESSOR in pursuing such damages) equally with LESSEE. If neither party gives notice of termination within such ten (10) Business Days,
both parties lose all right to terminate under this Article 3.6 unless otherwise agreed in writing by the parties. 

  

					
		  	13	  	ARTICLE 3
		  		  	PLACE AND DATE OF DELIVERY

	 	ARTICLE 4	LEASE TERM AND EXTENSION OPTION 

4.1 Initial Lease Term. The term of leasing of the Aircraft will commence on the Delivery Date and continue for an initial lease term of
ten (10) years (“Initial Lease Term”). 
 4.2 Lease Extension Option. So long as no Default or Event
of Default has occurred and is continuing hereunder on the date of exercise of the option, LESSEE will have two (2) options to extend the term of the Lease for a period of one (1) year each from the then-existing Expiration Date (the
“Extension Lease Term”). In order to exercise an option, LESSEE must give written notice to LESSOR not less than ten (10) months prior to the then-existing Expiration Date of this Lease. Any notice given by LESSEE in
accordance herewith will be irrevocable. 
 4.3 “Lease Term” and “Expiration Date”. “Lease
Term” means the term of leasing commencing on the Delivery Date and terminating on the Expiration Date. “Expiration Date” means the date on which LESSEE is required to redeliver the Aircraft to LESSOR in the
condition required by this Lease on the last day of the Initial Lease Term or Extension Lease Term, if and as applicable. 
 4.4
“Termination Date”. If LESSEE returns the Aircraft to LESSOR on the Expiration Date in the condition required by Article 23, then “Termination Date” has the same meaning as “Expiration
Date”. If LESSEE does not do so, then “Termination Date” means the date on which the first of the following events occurs: 
 (a) there is a Total Loss of the Aircraft prior to Delivery pursuant to Article 3.5; 
 (b) cancellation of this Lease occurs pursuant to Article 3.6; 
 (c) there is
a Total Loss of the Aircraft and payment is made to LESSOR in accordance with Article 19.3; 
 (d) prior to the Expiration
Date, LESSOR repossesses the Aircraft or otherwise terminates this Lease and recovers possession and control of the Aircraft following an Event of Default; 
 (e) an Event of Default occurs hereunder by LESSEE returning the Aircraft in the condition required by this Lease after the Expiration Date; or 

(f) after the Expiration Date, LESSOR repossesses the Aircraft or otherwise terminates this Lease and recovers possession and control of
the Aircraft following an Event of Default. 

  

					
		 	14	 	ARTICLE 4
		 		 	LEASE TERM AND EXTENSION OPTION

	 	ARTICLE 5	SECURITY DEPOSIT, TRANSACTION FEE, RENT, RESERVES AND OTHER PAYMENTS 

 

	5.1	Security Deposit. 

  

	5.1.1	LESSEE will pay LESSOR a security deposit of ***** for its lease of the Aircraft (the “Security Deposit”). The Security Deposit is payable as
follows (in US$): 

  

					
	Payment Date	  	Amount	 
	 Received
	  	 	*****	  
	 Within two (2) Business Days after execution of the Lease
	  	 	*****	  
	 May 1, 2007
	  	 	*****	  
	 June 1, 2007
	  	 	*****	  
	 July 1, 2007
	  	 	*****	  
	 August 1, 2007
	  	 	*****	  
	 September 1, 2007
	  	 	*****	  
	 October 1, 2007
	  	 	*****	  
	 November 1, 2007
	  	 	*****	  
	 December 1, 2007
	  	 	*****	  

  

	5.1.2	The Security Deposit may be commingled with LESSOR’s general funds and any interest earned on such Security Deposit will be for LESSOR’s account. If the
Security Deposit is reduced below the required amount by application to meet LESSEE’S unperformed obligations under this Lease, LESSEE will replenish the Security Deposit within ten (10) days after LESSOR’s written demand therefor in
accordance with the provisions of Article 26.1. The Security Deposit will serve as security for the performance by LESSEE of its obligations under this Lease and any other agreements between LESSEE and LESSOR or any direct or indirect
subsidiary of LESSOR relating to aircraft, engines, aircraft equipment or the extension of credit and may be applied by LESSOR upon the occurrence of an Event of Default hereunder or of a default by LESSEE under any such other agreements.

  

	5.1.3	Upon termination of this Lease in accordance with Article 4.4 other than if an Event of Default has occurred and is continuing, LESSOR will return to LESSEE the
amount of the Security Deposit then held by LESSOR (so long as no default by LESSEE exists under any other agreement between LESSEE and LESSOR relating 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	15	 	ARTICLE 5
		 		 	 SECURITY DEPOSIT, TRANSACTION FEE,
 RENT, RESERVES AND OTHER PAYMENTS

	 	
to aircraft, engines or aircraft equipment or the extension of credit by LESSOR to LESSEE), without interest, less an amount determined by LESSOR to be a reasonable estimate of the costs, if any,
which LESSOR will incur to remedy any unperformed obligations of LESSEE under this Lease, including the correction of any discrepancies from the required condition of the Aircraft on return of the Aircraft. 

5.2 Transaction Fee. Within two (2) Business Days after execution of this Lease, LESSEE will pay LESSOR a nonrefundable transaction
fee of ***** (the “Transaction Fee”). 
 5.3 Rent. 

 

	5.3.1	LESSEE will pay LESSOR the following amounts monthly in advance as rent for the Aircraft (“Rent”): 

Lease Term: Payable monthly in advance and equal to the sum of: 

(a) ***** per month expressed in January 2006 U.S. Dollars* 

 

	*	 The above base rent is expressed in January 2006 U.S. Dollars and will increase in accordance with Airbus’s announced escalation rates for
the period from and including the 1st day of
January 2006 through and including the delivery month of the aircraft, compounded monthly; provided, however, that the escalation of such base rent will not exceed a rate of ***** for each whole year following January 2006 or a
proportional part of ***** for such lesser periods. 

 plus 

(b) ***** per month 
 plus 
 (c) the “LESSEE Customization Costs” amortized over the
Lease Term, together with interest thereon at a rate equal to the Prime Rate in effect at Delivery 
 The “LESSEE
Customization Costs” consist of the cost of 1. all agreed-to BFE (whether buyer-furnished equipment or seller-purchased equipment) paid for by LESSOR in place of or in addition to LESSEE’s baseline BFE for the Aircraft as specified
in 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	16	 	ARTICLE 5
		 		 	 SECURITY DEPOSIT, TRANSACTION FEE,
 RENT, RESERVES AND OTHER PAYMENTS

 
Exhibit A and 2. all other agreed-to changes to LESSEE’s baseline specification specified in Exhibit A paid for by LESSOR. Any increases to the above base rent will be calculated
immediately prior to Delivery. 
  

	5.3.2	 The first payment of Rent during the Lease Term will be paid no later than three (3) Business Days prior to the Scheduled Delivery Date. Each
subsequent payment of Rent will be due monthly thereafter no later than the same day of the month as the Delivery Date of the Aircraft except that, if such day is not a Business Day, the Rent will be due on the immediately preceding Business Day. If
Delivery occurred on the 29th, 30th or 31st of the month and in any given month during the Lease Term in which a Rent payment is due there is no such
corresponding date, Rent will be payable on the last Business Day of such month. In the event that LESSEE has paid the first payment of Rent three (3) Business Days prior to the Scheduled Delivery Date and Delivery is subsequently delayed for a
period in excess of ten (10) days, LESSOR shall return such Rent payment to LESSEE at LESSEE’s request, unless LESSOR advises LESSEE in writing that the Aircraft will be delivered in the next seven (7) days from the date of such
request. 

  

					
		 	17	 	ARTICLE 5
		 		 	 SECURITY DEPOSIT, TRANSACTION FEE,
 RENT, RESERVES AND OTHER PAYMENTS

 5.4 Reserves. 
  

	5.4.1	LESSEE will pay to LESSOR supplemental Rent, based on LESSEE’s use of the Aircraft during the Lease Term, in the form of the following reserves in the following
amounts (individually, “Airframe Reserves (6 Year Check)”, “Airframe Reserves (12 Year Check)”, “Engine Performance Restoration Reserves”, “Engine LLP
Reserves”, “Landing Gear Reserves” and “APU Reserves”, and collectively “Reserves”): 

 

			
	Type of Reserves	  	Amount of Reserves
		
	Airframe Reserves (6 Year Check):	  	***** per calendar month
		
	Airframe Reserves (12 Year Check):	  	***** per calendar month
		
	Engine Performance Restoration Reserves:	  	***** per Engine flight hour for each Engine (payable when the Engine is utilized on the Aircraft or another aircraft)
		
	Engine LLP Reserves:	  	***** per Engine cycle for each Engine (payable when the Engine is utilized on the Aircraft or another aircraft)
		
	Landing Gear Reserves:	  	***** per calendar month
		
	APU Reserves:	  	***** per APU hour (payable when the APU is utilized on the Aircraft or another aircraft)

  

	*	All Reserves are subject to an annual escalation rate of ***** (compounded yearly) on January 1, 2009 and on each one-year anniversary thereof.

  

	5.4.2	 All Reserves will be paid on or before the 15th day of the calendar month next following the month in which the Delivery Date occurs and on or before the 15th day of each succeeding calendar month for flying performed during
the calendar month prior to payment and for the calendar-based Reserves pertaining to such prior calendar month. All Reserves pertaining to the month in which the Termination Date occurs will be paid on the Termination Date, unless otherwise agreed
by the parties. 

  

	5.4.3	No interest will accrue or be paid at any time to LESSEE on such Reserves and, subject to LESSOR’s obligations under Article 13, LESSOR may commingle the
Reserves with LESSOR’s general funds. 

 5.5 Additional Rent for Excess Cycles. If on the Termination Date the
Airframe or any Engine has operated more cycles than the maximum number of cycles which would result from an hour/cycle ratio of 1.25 hours to 1 cycle over the period of the Lease Term, LESSEE will pay LESSOR as additional Rent ***** for each
Airframe cycle and ***** for each Engine cycle the Airframe and any Engine actually operated during the Lease Term in excess of the number of cycles which result from an hour/cycle ratio of 1.25 hours to 1 cycle. A

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	18	 	ARTICLE 5
		 		 	 SECURITY DEPOSIT, TRANSACTION FEE,
 RENT, RESERVES AND OTHER PAYMENTS

 
calculation will be made by LESSOR as of the Termination Date and such additional Rent will be due and payable by LESSEE within three (3) Business Days following the date LESSEE receives
such calculation, in writing, from LESSOR. 
 5.6 LESSOR’s Bank Account. The Security Deposit, Transaction Fee, Rent,
Reserves and any other payment due under this Lease will be paid by wire transfer of immediately available U.S. Dollar funds to LESSOR’s bank account at: 
 International Lease Finance Corporation 
 Account No. ***** 

JPMorgan Chase Bank 
 270 Park Avenue 
 New York, New York 10017 

ABA# ***** 
 or to such other
bank account in the United States as LESSOR may from time to time designate by written notice (“LESSOR’s Bank”). When it is stated in this Lease that an installment of the Security Deposit, the monthly Rent, Reserves or
any other payment is due or must be paid or made by LESSEE by a specific date, then such payment actually must be received by LESSOR’s Bank on or before such specific date, even if, in order for such payment to be received by LESSOR’s Bank
by such specific date, LESSEE must initiate the wire transfer prior to such specific date. 
 5.7 Default Interest. If
LESSOR’s Bank does not receive the Rent or any other amount on or before the specific date when due, LESSOR will suffer loss and damage the exact nature and amount of which are difficult or impossible to ascertain. LESSEE will pay LESSOR as
supplemental Rent (by way of agreed compensation and not as a penalty) interest on any due and unpaid amounts payable by LESSEE under this Lease. Interest will be calculated at a per annum rate (based on a 360 day year) which is equal to *****
plus the Prime Rate in effect on the date on which the amount was originally due for the period from the date the amount originally was due through the date the amount actually is received at LESSOR’s Bank or, in the case of LESSOR’s
performance of LESSEE’s obligations hereunder, from the date of payment by LESSOR through the date of LESSEE’s repayment to LESSOR (“Default Interest”). Default Interest will accrue on a day-to-day basis and be
compounded monthly. 
 5.8 No Deductions or Withholdings. All payments by LESSEE under this Lease, including the Security Deposit,
Transaction Fee, Rent, Reserves, Default Interest, fees, indemnities or any other item, will be made in full without any deduction or withholding whether in respect of set-off, counterclaim, duties, or Taxes (as defined in Article 16) imposed
in the State of Registration or any jurisdiction from which such payments are made unless LESSEE is prohibited by Law from doing so, in which event LESSEE will gross up the payment amount such that the net payment received by LESSOR after any
deduction or withholding equals the amounts called for under this Lease. LESSEE will also do all of the following: 
 (a) Ensure
that the deduction or withholding does not exceed the minimum amount legally required; 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		 	19	 	ARTICLE 5
		 		 	 SECURITY DEPOSIT, TRANSACTION FEE,
 RENT, RESERVES AND OTHER PAYMENTS

 (b) Pay to the relevant Government Entities within the period for payment permitted by
applicable Law the full amount of the deduction or withholding (including the full amount of any deduction or withholding from any additional amount paid pursuant hereto) unless the same is being reasonably contested in good faith by LESSEE in
accordance with applicable Law so long as such contest poses no likelihood of seizure or impairment of, or the imposition of a Security Interest on, the Aircraft or any other property of LESSOR; and 

(c) Furnish to LESSOR within thirty (30) days after each payment a certified copy of an official receipt of the relevant Government
Entities involved, if available, or other evidence of payment reasonably accepted by LESSOR for all amounts so deducted or withheld. 
 5.9
Value Added Taxes. The Rent and other amounts payable by LESSEE under this Lease are exclusive of any value added tax or similar tax or duty. 
 5.10 Wire Transfer Disbursement Report. At the time of each Rent or other payment, LESSEE will advise LESSOR (including by way of a reference included in a bank transfer instruction that is
available to LESSOR) in writing of the payment being made by LESSEE and the allocation of such payment to the Security Deposit, Rent, Reserves, Default Interest and other charges. Notwithstanding the allocation set forth in LESSEE’s report, in
the event LESSEE is in default under this Lease, LESSOR will have complete discretion to allocate LESSEE’s payments as LESSOR determines. 

5.11 Net Lease. 
  

	5.11.1	This Lease is a net lease and LESSEE’s obligation to pay Rent and make other payments in accordance with this Lease will be absolute and unconditional under any
and all circumstances and regardless of other events, including the following: 

 (a) any right of set-off,
counterclaim, recoupment, defense or other right (including any right of reimbursement) which LESSEE may have against LESSOR, Manufacturer, the Engine Manufacturer or any other person for any reason, including any claim LESSEE may have for the
foregoing; 
 (b) unavailability or interruption in use of the Aircraft for any reason, including a requisition thereof or any
prohibition or interference with or other restriction against LESSEE’s use, operation or possession of the Aircraft (whether by Law or otherwise), any defect in title, airworthiness, merchantability, fitness for any

  

					
		 	20	 	ARTICLE 5
		 		 	 SECURITY DEPOSIT, TRANSACTION FEE,
 RENT, RESERVES AND OTHER PAYMENTS

 
purpose, condition, design, specification or operation of any kind or nature of the Aircraft, the ineligibility of the Aircraft for any particular use or trade or for registration under the Laws
of any jurisdiction or Total Loss of the Aircraft; 
 (c) insolvency, bankruptcy, reorganization, arrangement, readjustment of
debt, dissolution, liquidation, receivership, administration or similar proceedings by or against LESSOR, LESSEE, Manufacturer, the Engine Manufacturer or any other Person; 
 (d) invalidity or unenforceability or lack of due authorization of or other defect in this Lease; 
 (e) failure or delay on the part of any party to perform its obligations under this Lease; or 
 (f) any other circumstance which but for this provision would or might have the effect of terminating or in any other way affecting any obligation of LESSEE hereunder. 

 

	5.11.2	Nothing in Article 5.11 will be construed to limit LESSEE’s rights and remedies in the event of LESSOR’s breach of its warranty of quiet enjoyment set
forth in Article 21.2 or to limit LESSEE’s rights and remedies to pursue in a court of law any claim it may have against LESSOR or any other Person. 

 5.12 Currency Indemnity. If under any applicable Law, whether as a result of a judgment against LESSEE or the liquidation of LESSEE or for any other reason, any payment hereunder is required
to be made or recovered in a currency other than Dollars then, to the extent that the payment (when converted into Dollars at the “rate of exchange” on the date of payment or, in the case of a liquidation, the latest date for the
determination of liabilities permitted by the applicable Law) falls short of the amount payable under this Lease, LESSEE will as a separate and independent obligation, fully indemnify LESSOR against the amount of the shortfall. If the amount
received by LESSOR upon converting the payment into Dollars exceeds the amount payable under this Lease, LESSOR will remit such excess to LESSEE. For the purposes of this paragraph “rate of exchange” means the rate at which LESSOR is able
on the relevant date to purchase Dollars in New York or London (at LESSOR’s option) with such other currency. 
 5.13 LESSOR
Performance of LESSEE Obligation. If LESSEE fails to make any payment under this Lease to a third party in connection with the Aircraft or fails to perform any other obligation required under this Lease, LESSOR may (but is not required to)
at its election, after the expiry of any applicable cure or similar period and without waiver of its rights perform such obligation and/or pay such amount unless the same is being reasonably contested in good faith by LESSEE in accordance with
applicable Law so long as such contest poses no likelihood of seizure or impairment of, or the imposition of a Security Interest on, the Aircraft or any other property of LESSOR. 

  

					
		 	21	 	ARTICLE 5
		 		 	 SECURITY DEPOSIT, TRANSACTION FEE,
 RENT, RESERVES AND OTHER PAYMENTS

 5.14 Consideration for Rent and other Amounts. The amount of the Rent and other payments
contained in this Lease are in consideration of LESSEE’s waiver of warranties and acceptance of the disclaimers and LESSEE’s provision of indemnities set forth in Articles 8 and 17, respectively, and the other provisions of this
Lease. 

  

					
		 	22	 	ARTICLE 5
		 		 	 SECURITY DEPOSIT, TRANSACTION FEE,
 RENT, RESERVES AND OTHER PAYMENTS

	 	ARTICLE 6	INVOLVEMENT WITH AIRCRAFT MANUFACTURER 

 6.1 LESSEE Selection of Aircraft. LESSEE ACKNOWLEDGES THAT THE DESCRIPTION OF THE AIRCRAFT SET FORTH IN THIS LEASE IS BASED UPON INFORMATION SUPPLIED BY MANUFACTURER. LESSEE COVENANTS TO
LESSOR THAT LESSEE HAS USED ITS OWN JUDGMENT IN SELECTING THE AIRCRAFT AND HAS DONE SO BASED ON ITS SIZE, DESIGN AND TYPE. LESSEE ACKNOWLEDGES THAT LESSOR IS NOT A MANUFACTURER, REPAIRER OR SERVICING AGENT OF THE AIRCRAFT. 

6.2 Participation Agreement. LESSEE has the right to inspect the Aircraft during the manufacture process and to attend and observe the
acceptance tests of the Aircraft pursuant to the terms of a Participation Agreement to be entered into between LESSEE and LESSOR in the form set forth in Exhibit B. 
 6.3 Procurement of BFE. LESSOR will procure all BFE for the Aircraft in accordance with the Aircraft specification set forth in Exhibit A. With respect to any additional BFE not part of
such specifications, LESSOR and LESSEE agree to use commercially reasonable efforts to procure such BFE under the supplier contract of LESSOR or LESSEE which provides the most favorable pricing, unless LESSOR is prohibited from doing so or unless
any such change could cause, in LESSOR’s reasonable opinion, a delay in Delivery of the Aircraft. 
 6.4 Assignment of
Training. LESSOR agrees to give LESSEE a product support allowance as set forth in Appendix 3 of the Participation Agreement to be entered into between LESSEE and LESSOR in the form set forth in Exhibit B. If LESSEE fails to take
Delivery of the Aircraft when tendered in accordance with Article 6.7, LESSEE will immediately pay to LESSOR an amount equal to the Dollar value of any goods or services used under the Participation Agreement. 

6.5 LESSEE Inspection of Aircraft. During the course of final assembly of the Aircraft, and at Delivery, LESSEE will have its own
representative present to inspect the Aircraft and to ensure its conformity with LESSEE’s needs and the terms of this Lease. LESSEE will have ground inspection and acceptance flight rights with respect to the Aircraft. LESSEE acknowledges that,
as between LESSEE and LESSOR, in accepting the Aircraft LESSEE is relying on its own inspection and knowledge of the Aircraft in determining whether the Aircraft meets the requirements of this Lease. 

b) Aircraft at Delivery. At Delivery, the Aircraft will be as set forth in Exhibit A, as such description may be modified by any
change requests agreed to among LESSEE, LESSOR and Manufacturer (which will be reflected in amendment(s) to this Lease). In the event of any discrepancies, LESSEE and LESSOR will cooperate in good faith with one another and with Manufacturer and the
Engine and other manufacturers, as applicable, in order to arrive at a mutually acceptable resolution of any such discrepancies. 

  

					
		 	23	 	ARTICLE 6
		 		 	INVOLVEMENT WITH AIRCRAFT MANUFACTURER

 6.7 Delivery of the Aircraft to LESSEE. Subject to LESSEE having performed all of the
conditions precedent to Delivery set forth in this Lease (or LESSOR’s waiver of one or more of such conditions precedent), immediately following delivery of the Aircraft from Manufacturer to LESSOR, LESSOR will deliver the Aircraft to LESSEE at
the Delivery Location. Upon tender of the Aircraft by LESSOR to LESSEE in the condition required by Article 6.6, LESSEE will accept the Aircraft and the date of tender by LESSOR to LESSEE will be deemed to be the Delivery Date for all purposes
under this Lease, including the commencement of LESSEE’s obligation to pay Rent hereunder. However, nothing in this Lease will obligate LESSOR to deliver the Aircraft to LESSEE if LESSEE has not complied with the conditions contained in
Articles 7.1 and 7.2. 
 6.8 LESSEE Acceptance of Aircraft. If LESSEE fails to (i) comply with its obligations set forth
in the Participation Agreement pursuant to Article 6.2, (ii) comply with the conditions contained in Articles 7.1 and 7.2 so as to allow Delivery to take place immediately following delivery of the Aircraft by Manufacturer to LESSOR
or (iii) take delivery of the Aircraft when properly tendered for delivery by LESSOR in the condition required hereunder, LESSEE will indemnify LESSOR for all out-of-pocket costs and expenses incurred by LESSOR as a result thereof including
(without limitation) any payments other than the purchase price which LESSOR becomes obliged to make to Manufacturer which result directly from LESSEE’s failure to comply with said conditions. 

  

					
		 	24	 	ARTICLE 6
		 		 	INVOLVEMENT WITH AIRCRAFT MANUFACTURER

	 	ARTICLE 7	PRE-DELIVERY, DELIVERY AND POST-DELIVERY DOCUMENTARY AND OTHER REQUIREMENTS 

 7.1 Pre-Delivery Requirements. LESSEE will do each of the following prior to the Scheduled Delivery Date of the Aircraft within the time frames set forth below: 

 

	7.1.1	Within one (1) month after execution of this Lease or such other period as the parties shall agree, LESSEE will deliver to LESSOR each of the following:

 (a) copies of resolutions of the Board of Directors of LESSEE or other written evidence of appropriate action,
duly certifying and authorizing the lease of the Aircraft hereunder and the execution, delivery and performance of this Lease, together with an incumbency certificate as to the person or persons authorized to execute and deliver documents on behalf
of LESSEE hereunder. Such resolutions or other written evidence must also specifically grant the individual executing this Lease on behalf of LESSEE with the authority and power to commit and bind LESSEE to the arbitration clause contained in
Article 27 under the Laws of Mexico; 
 (b) a letter from the Aviation Authority in the form and substance of Exhibit E
(if available); and 
 (c) an opinion of counsel in substantially the form and substance of Exhibit G such as LESSOR accepts
from third party legal counsel in Mexico in the course of LESSOR’s business. 
  

	7.1.2	At least seven (7) days prior to the Scheduled Delivery Date, LESSEE will have delivered to LESSOR a Certificate of Insurance and Brokers’ Letter of
Undertaking substantially in the same form as Exhibits C and D evidencing insurance of the Aircraft in accordance with this Lease from the Delivery Date. 

 

	7.1.3	At least three (3) Business Days prior to the Scheduled Delivery Date, LESSEE will do each of the following: 

(a) pay to LESSOR the first monthly installment of Rent in accordance with Article 5.3.2; 

(b) to the extent required, provide LESSOR with documents evidencing that LESSEE has obtained any necessary licenses for the importation
and ferrying of the Aircraft into Mexico and that all applicable customs duties and sales taxes in respect of the Aircraft, if any, have been discharged by LESSEE (or arrangements satisfactory to LESSOR have been made for obtaining or paying for the
same), such that at return of the Aircraft to LESSOR no additional fees, duties or taxes will be payable in order to export the Aircraft from Mexico; 

  

					
		 	25	 	ARTICLE 7
		 		 	 PRE-DELIVERY, DELIVERY AND POST-DELIVERY

DOCUMENTARY AND OTHER REQUIREMENTS

 (c) provide LESSOR with documents reasonably requested by LESSOR evidencing the issuance of
each approval, license and consent, if any, which may be required in connection with the remittance to LESSOR of any amount payable under this Lease or the performance by LESSEE of any of its obligations hereunder (including without limitation any
exchange control approval); 
 (d) provide LESSOR with a copy of such Aviation Documents as may be available prior to the
Scheduled Delivery Date; 
 (e) provide LESSOR with a power of attorney empowering LESSEE’s representative, who may be an
officer or employee of LESSEE, to accept the Aircraft on behalf of LESSEE; 
 (f) provide LESSOR with a power of attorney in
substantially the form of Exhibit H; 
 (g) provide LESSOR with a power of attorney for purposes of the Cape Town Convention
in the form of Exhibit I; and 
 (h) provide LESSOR with such other documents as LESSOR may reasonably request. 

7.2 Delivery Requirements. On the Delivery Date of the Aircraft, each of the following will occur: 

 

	7.2.1	LESSEE will execute and deliver to LESSOR an Estoppel and Acceptance Certificate in the form of Exhibit F covering the Aircraft and effective as of the Delivery
Date. 

  

	7.2.2	If not previously done, LESSEE and LESSOR will sign an amendment or supplement to Exhibit A evidencing all agreed-to changes to the specification of the Aircraft.

  

	7.2.3	LESSEE will deliver a certificate signed by an officer of LESSEE stating all of the following: 

(a) the representations and warranties contained in Article 20 are true and accurate on and as of the Delivery Date as though made on
and as of such date (except to the extent that such representations and warranties relate solely to an earlier date); and 
 (b)
no Default or Event of Default has occurred and is continuing or will result from LESSEE’s lease of the Aircraft hereunder. 

  

					
		 	26	 	ARTICLE 7
		 		 	 PRE-DELIVERY, DELIVERY AND POST-DELIVERY

DOCUMENTARY AND OTHER REQUIREMENTS

	7.2.4	LESSEE’s counsel will deliver an opinion confirming the matters set forth in the opinion of counsel described in Article 7.1 and advising that all filing and
other requirements described in the earlier opinion of counsel have been met or will be met (if permitted by Law) upon or immediately following Delivery. 

  

	7.2.5	If any Creditor Agreement provides that such Creditor will or may obtain any right, title or interest in an Engine which is installed on such Creditor’s aircraft,
LESSEE will deliver to LESSOR an engines cooperation agreement in form and substance acceptable to LESSOR which is executed by LESSEE and LESSEE’s Creditors (as defined therein). 

 

	7.2.6	LESSEE and LESSOR will execute assignments of Manufacturer and Engine Manufacturer rights in the form and substance of Exhibits J and K, respectively, subject to
the manufacturers’ consents, if and as applicable. 

  

	7.2.7	LESSEE will deliver to LESSOR a copy of such Aviation Documents as have not been previously delivered which are available. 

7.3 Post-Delivery Requirements. 
  

	7.3.1	Within seven (7) days after Delivery, if not previously provided, LESSEE will do each of the following: 

(a) procure registration of the Aircraft in the register of aircraft of the State of Registration showing LESSOR as the owner and provide
evidence of the same to LESSOR; 
 (b) cause the interests of LESSOR in the Aircraft (including in the Engines, if possible),
this Lease and the other Operative Documents to be registered in the International Registry to the fullest extent such interests may be registered, including by consenting to or causing such registration via a “designated entry point” (as
such term is defined in the Cape Town Convention) in the United States; 
 (c) provide LESSOR with copies of all Aviation
Documents not previously delivered; and 
 (d) if the Aircraft could not be registered at Delivery, provide LESSOR with a
follow-up opinion of counsel advising that the Aircraft has been registered in the State of Registration and that all necessary filings have been made. 

  

					
		 	27	 	ARTICLE 7
		 		 	 PRE-DELIVERY, DELIVERY AND POST-DELIVERY

DOCUMENTARY AND OTHER REQUIREMENTS

	7.3.2	Within one (1) month after Delivery, LESSEE will provide LESSOR with a Technical Evaluation Report for the Aircraft in the form and substance of Exhibit O, as
revised. 

  

					
		 	28	 	ARTICLE 7
		 		 	 PRE-DELIVERY, DELIVERY AND POST-DELIVERY

DOCUMENTARY AND OTHER REQUIREMENTS

	 	ARTICLE 8	DISCLAIMERS AND WAIVERS 

 ANY COMMITMENT OR COVENANT ON THE PART OF LESSOR REGARDING THE CONDITION OF THE AIRCRAFT EXPIRES AFTER DELIVERY AND THE DISCLAIMERS AND WAIVERS SET FORTH IN THIS ARTICLE 8 REGARDING THE CONDITION OF THE
AIRCRAFT WILL THEN APPLY. THUS, FROM AND AFTER THE TIME OF LESSEE’S ACCEPTANCE OF THE AIRCRAFT AND EXECUTION OF THE ESTOPPEL AND ACCEPTANCE CERTIFICATE, AS BETWEEN LESSOR AND LESSEE: 
 8.1 “As Is, Where Is”. LESSEE AGREES THAT IT IS LEASING THE AIRCRAFT “AS IS, WHERE IS”. LESSEE UNCONDITIONALLY ACKNOWLEDGES AND AGREES THAT NEITHER LESSOR NOR ANY OF ITS
OFFICERS, DIRECTORS, EMPLOYEES OR REPRESENTATIVES HAVE MADE OR WILL BE DEEMED TO HAVE MADE ANY TERM, CONDITION, REPRESENTATION, WARRANTY OR COVENANT EXPRESS OR IMPLIED (WHETHER STATUTORY OR OTHERWISE) AS TO, AND LESSEE HEREBY WAIVES ANY EXPRESS OR
IMPLIED WARRANTY OR COVENANT (WHETHER STATUTORY OR OTHERWISE) AS TO (i) THE CAPACITY, AGE, AIRWORTHINESS, VALUE, QUALITY, DURABILITY, CONFORMITY TO THE PROVISIONS OF THIS LEASE, DESCRIPTION, CONDITION (WHETHER OF THE AIRCRAFT, ANY ENGINE, ANY
PART THEREOF OR THE AIRCRAFT DOCUMENTATION), DESIGN, WORKMANSHIP, MATERIALS, MANUFACTURE, CONSTRUCTION, OPERATION, DESCRIPTION, STATE, MERCHANTABILITY, PERFORMANCE, FITNESS FOR ANY PARTICULAR USE OR PURPOSE (INCLUDING THE ABILITY TO OPERATE OR
REGISTER THE AIRCRAFT OR USE THE AIRCRAFT DOCUMENTATION IN ANY OR ALL JURISDICTIONS) OR SUITABILITY OF THE AIRCRAFT OR ANY PART THEREOF, OR THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE, KNOWN OR UNKNOWN, APPARENT OR CONCEALED,
EXTERIOR OR INTERIOR, (ii) THE ABSENCE OF ANY INFRINGEMENT OF ANY PATENT, TRADEMARK, COPYRIGHT OR OTHER INTELLECTUAL PROPERTY RIGHTS, (iii) ANY IMPLIED WARRANTY ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE OR
(iv) ANY OTHER REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, WITH RESPECT TO THE AIRCRAFT OR ANY PART THEREOF, ALL OF WHICH ARE HEREBY EXPRESSLY EXCLUDED AND EXTINGUISHED. 
 8.2 Waiver of Warranty of Description. LESSEE HEREBY AGREES THAT ITS ACCEPTANCE OF THE AIRCRAFT AT DELIVERY AND ITS EXECUTION AND DELIVERY OF THE ESTOPPEL AND ACCEPTANCE CERTIFICATE
CONSTITUTE LESSEE’S WAIVER OF THE WARRANTY OF DESCRIPTION, ANY CLAIMS LESSEE MAY HAVE AGAINST LESSOR BASED UPON THE FAILURE OF THE AIRCRAFT TO CONFORM WITH SUCH DESCRIPTION AND ANY AND ALL RIGHTS IT MAY HAVE TO THE REMEDIES SET FORTH IN
SECTIONS 10508 THROUGH 10522 OF THE 

  

					
		  	29	  	ARTICLE 8
		  		  	DISCLAIMERS AND WAIVERS

 
CALIFORNIA COMMERCIAL CODE. EVEN IF AT ANY TIME AFTER DELIVERY, THE FAILURE OF THE AIRCRAFT TO CONFORM TO SUCH DESCRIPTION SUBSTANTIALLY IMPAIRS THE VALUE AND UTILITY OF THE AIRCRAFT AND EITHER
1. LESSEE ACCEPTED THE AIRCRAFT BASED ON A REASONABLE ASSUMPTION THAT THE NONCONFORMITY WOULD BE CURED AND IT WAS NOT SEASONABLY CURED OR 2. LESSEE ACCEPTED THE AIRCRAFT WITHOUT DISCOVERING THE NONCONFORMITY BUT LESSEE’S ACCEPTANCE OF
THE AIRCRAFT WAS REASONABLY INDUCED EITHER BY LESSOR’S ASSURANCES OR BY THE DIFFICULTY OF DISCOVERING ANY DEFECT PRIOR TO ACCEPTANCE, LESSEE AGREES NOT TO LOOK TO LESSOR FOR DAMAGES OR RELIEF ARISING OUT OF THE FAILURE OF THE AIRCRAFT TO
CONFORM TO SUCH DESCRIPTION. NOTWITHSTANDING THE FOREGOING, NOTHING HEREIN SHALL INVALIDATE ANY AGREEMENT BETWEEN LESSOR AND MANUFACTURER TO RECTIFY DISCREPANCIES DISCOVERED PRIOR TO DELIVERY. 

8.3 LESSEE Waiver. LESSEE HEREBY WAIVES AS BETWEEN ITSELF AND LESSOR AND AGREES NOT TO SEEK TO ESTABLISH OR ENFORCE ANY RIGHTS OR REMEDIES,
EXPRESS OR IMPLIED (WHETHER STATUTORY, IN CONTRACT OR TORT OR UNDER ANY STRICT LIABILITY OR OTHER THEORY) AGAINST LESSOR OR THE AIRCRAFT RELATING TO ANY OF THE MATTERS MENTIONED IN ARTICLES 8.1 OR 8.2, REGARDLESS OF THE NEGLIGENCE, ACTIVE OR PASSIVE
OR ANY OTHER TYPE, OF LESSOR. 
 8.4 Conclusive Proof. DELIVERY BY LESSEE TO LESSOR OF THE ESTOPPEL AND ACCEPTANCE CERTIFICATE
WILL BE CONCLUSIVE PROOF AS BETWEEN LESSOR AND LESSEE THAT LESSEE’S TECHNICAL EXPERTS HAVE EXAMINED AND INVESTIGATED THE AIRCRAFT AND ENGINES AND (i) EACH IS AIRWORTHY AND IN GOOD WORKING ORDER AND REPAIR AND (ii) THE AIRCRAFT AND
ENGINES AND THE AIRCRAFT DOCUMENTATION ARE WITHOUT DEFECT (WHETHER OR NOT DISCOVERABLE AT DELIVERY) AND IN EVERY WAY SATISFACTORY TO LESSEE. 

8.5 No Liability to Repair or Replace. LESSOR will not be liable for any expense in repairing or replacing any item of the Aircraft or be
liable to supply another aircraft or any item in lieu of the Aircraft or any Part thereof if the same is lost, confiscated, damaged, destroyed or otherwise rendered unfit for use. 
 8.6 No Waiver. Nothing in this Article 8 or elsewhere in this Lease will be deemed to be a waiver by LESSEE of any rights it may have against Manufacturer, the Engine Manufacturer or
any other Person. 
 8.7 Consideration for Waivers. LESSEE’s waiver of warranties and acceptance of the disclaimers expressly
set forth in this Article 8 are made in consideration of (i) LESSEE’s 

  

					
		  	30	  	ARTICLE 8
		  		  	DISCLAIMERS AND WAIVERS

 
rights hereunder to inspect the Aircraft, (ii) LESSOR’s assignment to LESSEE of any existing and assignable warranties of Manufacturer and the Engine Manufacturer and (iii) the amount of the
Rent and other payments contained in this Lease. 

  

					
		  	31	  	ARTICLE 8
		  		  	DISCLAIMERS AND WAIVERS

	 	ARTICLE 9	MANUFACTURERS’ AND VENDORS’ WARRANTIES 

 9.1 Warranties. As set forth in Article 7.2.6, at Delivery LESSOR will assign to LESSEE for the duration of the Lease Term the benefit of all warranties and indemnities given to LESSOR
by Manufacturer and the Engine Manufacturer. Effective on the Delivery Date, all other assignable vendor warranties with respect to the Aircraft are hereby assigned by LESSOR to LESSEE. 
 9.2 Reassignment. On the Termination Date, the benefit of any warranty assigned by LESSOR to LESSEE pursuant to Articles 7.2.6 and 9.1 will be reassigned automatically to LESSOR or its
designee except to the extent of any amounts received by LESSOR and due to LESSEE as a result of out of pocket costs incurred by LESSEE as a result of such claims. At LESSOR’s election, LESSEE’s rights under such warranties (including
LESSEE’s claims and rights to payment thereunder) will revert to LESSOR during any period in which an Event of Default is continuing. Similarly, any additional warranties received by LESSEE from Manufacturer, the Engine Manufacturer and any
other vendor or repair facility for work performed on the Aircraft, Engine or any Part during the Lease Term will be automatically assigned by LESSEE to LESSOR or its designee on the Termination Date except to the extent of any amounts received by
LESSOR and due to LESSEE as a result of out of pocket costs incurred by LESSEE as a result of such claims. LESSEE at its own cost and expense will do all such things and execute such documents as may be required for these purposes. 

9.3 Warranty Claims. LESSEE will diligently and promptly pursue any valid claims it may have against Manufacturer and others under such
warranties with respect to the Aircraft. 

  

					
		 	32	 	ARTICLE 9
		 		 	MANUFACTURERS’ AND VENDORS’ WARRANTIES

	 	ARTICLE 10	OPERATION OF AIRCRAFT 

 10.1
Costs of Operation. LESSEE will pay all costs incurred in the operation of the Aircraft during the Lease Term and until the Termination Date, for profit or otherwise, including the costs of flight crews, cabin personnel, fuel, oil,
lubricants, maintenance, insurance, storage, landing and navigation fees, airport charges, passenger service and any and all other expenses of any kind or nature, directly or indirectly, in connection with or related to the use, movement and
operation of the Aircraft. 
 10.2 Compliance with Laws. Except as otherwise explicitly provided in this Lease, LESSEE agrees
throughout the Lease Term and until the Termination Date to maintain operational control of the Aircraft and use the Aircraft in accordance with applicable Laws of the State of Registration and of any country, state, territory or municipality into
or over which LESSEE may operate. LESSEE will not employ, suffer or cause the Aircraft to be used in any business which is forbidden by Law or in any manner which may render it liable to condemnation, destruction, seizure, or confiscation by any
authority. LESSEE will not permit the Aircraft to fly to any airport or country if so doing would cause LESSEE or LESSOR to be in violation of any Law applicable to either of them or the Aircraft, except as may be reasonably required to preserve the
Aircraft or the safety, well being or life of passengers or crew; provided, however, in such case, LESSEE shall immediately notify LESSOR and undertake its best efforts to remove the Aircraft from such airport or country as soon as reasonably
possible. 
 10.3 Training. LESSEE will not use the Aircraft for testing or for training of flight crew members other than LESSEE
crew members and will not use the Aircraft for training any more than it utilizes for training the other aircraft in its fleet. 
 10.4 No
Violation of Insurance Policies. LESSEE will not use or permit the Aircraft to be used in any manner or for any purpose which is not covered by the insurance policies LESSEE is required to carry and maintain as set forth in this Lease.
LESSEE will not carry any goods of any description excepted or exempted from such policies or do any other act or permit to be done anything which could reasonably be expected to invalidate or limit any such insurance policies. 

10.5 Flight and Airport Charges. 
  

	10.5.1	LESSEE will pay promptly when due all airport or enroute navigation charges (including Eurocontrol charges), navigation service charges, landing fees and all charges
due and payable by LESSEE for the use of or for services provided at any airport, whether in respect of the Aircraft or any other aircraft of LESSEE, unless the same is being reasonably contested in good faith by LESSEE in accordance with applicable
Law, so long as such contest poses no likelihood of seizure or impairment of, or the imposition of a Security Interest on, the Aircraft or any other property of LESSOR. 

  

					
		  	33	  	ARTICLE 10
		  		  	OPERATION OF AIRCRAFT

	10.5.2	If requested in writing by LESSOR (but not more frequently than twice annually, unless a Default or Event of Default shall have occurred and be continuing), LESSEE will
provide LESSOR with a list of the airports to which LESSEE regularly operates the Aircraft or its other aircraft (in the event that the operation of such other aircraft may reasonably be expected to give rise to a lien on the Aircraft for landing,
navigation, parking, storage or similar charges). LESSEE hereby authorizes Eurocontrol (if applicable) or another aviation authority or airport or creditor claiming or threatening to claim a Security Interest in the Aircraft to confirm the status of
LESSEE’s payments to such creditor in respect of navigation, landing, parking, storage and similar charges for the Aircraft and its other aircraft, to the extent that the failure to make any payment in respect of such other aircraft has or
might give rise to a Security Interest in the Aircraft, as and when requested by LESSOR. 

  

					
		  	34	  	ARTICLE 10
		  		  	OPERATION OF AIRCRAFT

	 	ARTICLE 11	SUBLEASES 

 11.1 No Sublease
without LESSOR Consent. LESSEE WILL NOT SUBLEASE OR PART WITH POSSESSION OF THE AIRCRAFT (EXCEPT FOR MAINTENANCE AND REPAIR) AT ANY TIME WITHOUT THE PRIOR WRITTEN CONSENT OF LESSOR (NOT TO BE UNREASONABLY WITHHELD) AND IN ACCORDANCE WITH
SUCH REQUIREMENTS AS MAY FROM TIME TO TIME BE AGREED IN WRITING BETWEEN LESSOR AND LESSEE. NO SUBLEASING OF AN ENGINE WILL BE PERMITTED. 
 11.2
LESSOR Costs. LESSEE will indemnify LESSOR on demand for all reasonable out-of-pocket expenses (including legal fees) incurred in connection with LESSOR’s assessment of the subleasing proposal (whether or not LESSOR’s consent
to such sublease is ultimately given) and implementation of the sublease. 
 11.3 Permitted Sublessees. LESSOR hereby acknowledges
that upon a request by LESSEE for a sublease in accordance with this Article 11 to one of the following entities, LESSOR shall consent to such sublease, such consent not to be unreasonably withheld or delayed: TACA International Airlines, S.A.;
Lineas Aereas Costarricenses, S.A.; AVIATECA, S.A.; TACA Costa Rica, S.A.; and Trans American Airlines, S.A. (d/b/a TACA PERU); provided, however, that at the time of such consent such entity has not suffered such a material deterioration in its
condition such that a sublease to it would reasonably be expected to result in the operation or maintenance of the Aircraft in contravention of one or more terms of this Lease, and that nothing herein shall limit the terms and requirements otherwise
set forth in this Article 11. 
 11.4 Any Approved Sublease. Any sublease approved by LESSOR will be for a term no greater
than the remaining Lease Term. The applicable sublease agreement will contain provisions consistent with this Lease protecting LESSOR’s title to the Aircraft, providing appropriate LESSOR disclaimers and indemnities, regarding the maintenance
and repair standards for the Aircraft and concerning the insurances which will be carried by the sublessee and the circumstances which constitute a Total Loss of the Aircraft. Any such sublease will be subject and subordinate to this Lease. LESSOR
will have an opportunity to review the proposed sublease agreement in advance in order to determine that it meets the requirements of this Article 11.4. In its sole discretion, LESSOR may require an opinion of counsel in connection with such
sublease, including LESSOR’s right to repossess the Aircraft in the event of an Event of Default hereunder and LESSEE’s and LESSOR’s rights to repossession in the case of an event of default under such sublease. LESSEE will not amend
the terms of any approved sublease agreement without the prior written consent of LESSOR, which will not be unreasonably withheld. 
 11.5
Assignment of Sublease. Any approved sublease will be assigned to LESSOR as security. LESSEE will deliver the original counterpart of the sublease to LESSOR and make any filings necessary to protect LESSOR’s security interest.

  

					
		  	35	  	ARTICLE 11
		  		  	SUBLEASES

 11.6 Application of Cape Town Convention. At LESSOR’s request, LESSEE will cause such
sublease and LESSEE’s assignment of such sublease to LESSOR to be registered in the International Registry to the fullest extent such interests may be registered. In addition, LESSEE will obtain in favor of LESSOR a power of attorney from the
approved sublessee for purposes of the Cape Town Convention in the form of Exhibit I. 
 11.7 Wet Leases. The wet leasing of
the Aircraft during the Lease Term (in which LESSEE and its crews retain operational control of the Aircraft) will not be considered a sublease of the Aircraft and will be permitted without LESSOR’s consent, provided that (i) the Aircraft
remains registered in the State of Registration, (ii) the Aircraft will neither be based in nor operated in or to a Prohibited Country, (iii) LESSEE provides LESSOR with either a certified copy of the applicable provisions from the wet
lease agreement or an officer’s certificate confirming that LESSEE or the wet lessee will be responsible for maintaining the primary passenger, baggage and cargo liability insurance relating to operation under the wet lease unless LESSEE shall
be responsible under the Wet Lease for maintaining the same and (iv) LESSEE complies with Article 18.10. 
 11.8 Continued
Responsibility of LESSEE. LESSEE will continue to be responsible for performance of its obligations under this Lease during any period of sublease or wet lease. 

  

					
		  	36	  	ARTICLE 11
		  		  	SUBLEASES

	 	ARTICLE 12	MAINTENANCE OF AIRCRAFT 

 12.1
General Obligation. During the Lease Term and until the Termination Date, LESSEE alone has the obligation, at its expense, to maintain and repair the Aircraft, Engines, APU and all of the Parts (i) in accordance with the
Maintenance Program, (ii) in accordance with the rules and regulations of the Aviation Authority, (iii) in accordance with Manufacturer’s type design, (iv) in accordance with any other regulations or requirements necessary in
order to maintain a valid Certificate of Airworthiness for the Aircraft and meet the requirements at all times during the Lease Term and upon return of the Aircraft to LESSOR for issuance of a Standard Certificate of Airworthiness for transport
category aircraft issued by the FAA in accordance with FAR Part 21 (except during those periods when the Aircraft is undergoing maintenance or repairs as required or permitted by this Lease and to the extent in conflict with the requirements of
the Aviation Authority) and (v) in the same manner and with the same care as used by LESSEE with respect to similar aircraft and engines operated by LESSEE and without in any way discriminating against the Aircraft as compared to such other
aircraft. 
 12.2 Specific Engine Requirements. 
  

	12.2.1	No Engine will remain in an unserviceable condition for more than three (3) months, unless engine restoration or repair is ongoing and has not been suspended or
delayed without reasonable cause and LESSEE is using commercially reasonable efforts to cause such Engine to be returned to service. 

  

	12.2.2	When replacing Parts in an Engine, LESSEE will use original equipment manufacturer parts (“OEM Parts”). If LESSEE wishes to replace Parts
in an Engine with parts which are not OEM Parts, LESSEE must obtain approval from LESSOR before such parts are installed, such approval not to be unreasonably withheld or delayed. If given, LESSOR’S approval will generally be given only for the
installation of parts manufactured in accordance with FAR Part 21.303 (or its EASA equivalent) (“PMA Parts”) which are consumable parts such as brackets, gaskets and seals. The use of stationary and high energy rotating
PMA Parts in the gaspath will not be approved by LESSOR. Any proposed repair to an OEM Part or PMA Part in an Engine which has been approved by an FAA Designated Engineering Representative (DER) must also be approved by LESSOR prior to performance
of the repair, such LESSOR approval not to be unreasonably withheld or delayed. 

  

	12.2.3	LESSEE will not discriminate against the Engines with respect to build standards and life-limited Part replacements. Without limiting the foregoing, at any shop visit
during which a Qualified Performance Restoration is performed, LESSEE will (i) build the Engine life-limited Parts to at least 6,000 cycles remaining and (ii) perform, at a minimum, a workscope sufficient to allow such Engine to achieve at
least 10,000 hours and 6,000 cycles of operation following such shop visit. 

  

					
		  	37	  	ARTICLE 12
		  		  	MAINTENANCE OF AIRCRAFT

	12.2.4	With respect to the last Engine shop visit of an Engine prior to return of the Aircraft, LESSEE will submit to LESSOR at least thirty (30) days in advance the
intended workscope of such shop visit, unless the shop visit is unscheduled, in which case LESSEE will immediately notify LESSOR and the workscope will be submitted to LESSOR as soon as it is available. If LESSOR requests, LESSEE will perform
additional work at such shop visit at LESSOR’s cost; provided, however, that in the event that through no fault of LESSEE such work delays the return of the Aircraft to LESSOR or causes the Engine to be removed from LESSEE’s revenue
service for a period in excess of the period the Engine would have been removed from revenue service had such additional work not been ordered, Article 23.13 shall be applicable and LESSEE and LESSOR will negotiate in good faith to expedite the
return and minimize the costs incurred by the parties. 

  

	12.2.5	LESSEE will not enter into any Engine maintenance cost per flight hour, power-by-the-hour or similar agreement with the Engine Manufacturer or any other Engine
maintenance facility or organization without LESSOR’s prior written consent, which consent will not be unreasonably withheld or delayed. LESSEE will be responsible at its cost for performing all work necessary to meet the return conditions with
respect to the Engines set forth in Article 23 even if such work is not covered by LESSEE’s Engine maintenance agreement. Without limiting the foregoing, any such Engine maintenance agreement will provide that: 

(a) LESSOR will receive and retain the Engine Performance Restoration Reserves paid by LESSEE with respect to an Engine until an Engine
shop visit has been completed and the applicable Engine has been released to LESSEE; 
 (b) LESSEE will pay the Engine
maintenance facility directly for any costs in excess of the amount reimbursable from the Engine Performance Restoration Reserves, including any differential between the hourly Engine Performance Restoration Reserves payable by LESSEE to LESSOR and
the hourly rates charged by the Engine maintenance facility; and 
 (c) LESSEE will pay the Engine maintenance facility directly
for any services provided by the Engine maintenance facility over and above repair of the Engines, such as trend monitoring, spare engines or spare parts. 
 12.3 Specific Obligations. Without limiting Article 12.1, LESSEE agrees that such maintenance and repairs will include but will not be limited to the specific items set forth in this
Article 12.3. 

  

					
		  	38	  	ARTICLE 12
		  		  	MAINTENANCE OF AIRCRAFT

	12.3.1	LESSEE will perform all routine and non-routine maintenance work in accordance with the Maintenance Program. 

 

	12.3.2	LESSEE will perform all applicable Airworthiness Directives, all mandatory service bulletins of Manufacturer, the Engine Manufacturer and other vendors or manufacturers
of Parts incorporated on the Aircraft and all other service bulletins which must be performed in order to maintain the warranties on the Aircraft, Engines, APU and Parts. 

 

	12.3.3	LESSEE will incorporate in the Aircraft all other service bulletins of Manufacturer, the Engine Manufacturer and other vendors which LESSEE schedules to adopt during
the Lease Term for the rest of its Airbus A319 aircraft fleet. It is the intent of the parties that, in terms of service bulletin compliance (including method of compliance) and other maintenance matters, the Aircraft not be discriminated against in
comparison to the rest of LESSEE’s fleet of similar aircraft unless LESSEE’s exclusion of the Aircraft is reasonable and occurs during the last year of the Lease Term. 

 

	12.3.4	LESSEE’s Maintenance Program for the Aircraft will include a corrosion prevention and control program as recommended by Manufacturer and all discrepancies will be
corrected in accordance with the recommendations of Manufacturer and the Structural Repair Manual. In addition, all inspected areas will be properly treated with corrosion inhibitor as recommended by Manufacturer. 

 

	12.3.5	If LESSEE performs structural inspections or tasks on its Airbus A319 fleet on a sampling basis, then all such structural inspections or tasks will be performed on the
Aircraft. LESSEE will provide LESSOR with written summaries of the sampling programs involving or affecting the Aircraft. 

  

	12.3.6	All Aircraft Documentation will be in English or regularly translated into English and in an up-to-date status. 

 

	12.3.7	All hard-time, time-controlled, time-tracked and life-limited Parts which are installed on the Aircraft will have an FAA Form 8130-3 evidencing the airworthiness
of such Part at the time of most recent installation on the Aircraft. In the case of life-limited Parts, the documentation will also state the total hours and cycles since new. In the case of hard-time, time-controlled or time-tracked Parts, the
documentation will also state the time since last Overhaul or refurbishment, will have a reference to the relevant section of the Component Maintenance Manual under which the Part was Overhauled or refurbished, as applicable, and will identify
the FAA-approved repair agency which performed the last Overhaul or refurbishment. 

  

					
		  	39	  	ARTICLE 12
		  		  	MAINTENANCE OF AIRCRAFT

	12.3.8	All Parts other than those referred to in Article 12.3.7 installed on the Aircraft will have FAA-acceptable or EASA-acceptable documentation demonstrating that
such Parts were airworthy at the time of most recent installation on the Aircraft. 

  

	12.3.9	All repairs and Modifications and the addition, removal or replacement of equipment, systems or components will be properly documented in accordance with the rules and
regulations of the Aviation Authority and reflected in the Aircraft Documentation, including Manufacturer’s manuals as required by such rules and regulations. In addition, all repairs to the Aircraft will be accomplished in accordance with
Manufacturer’s Structural Repair Manual (or FAA-approved data supported by FAA Form 8110-3 or 8100-9). All Modifications will also be accomplished in accordance with FAA-approved data. 

12.4 Replacement of Parts. 
  

	12.4.1	LESSEE, at its own cost and expense, will promptly replace all Parts which may from time to time become worn out, lost, stolen, destroyed, seized, confiscated, damaged
beyond repair or rendered unfit or beyond economical repair (BER) for use for any reason. In the ordinary course of maintenance, service, repair, Overhaul or testing, LESSEE may remove any Part provided that LESSEE replaces such Part as promptly as
practicable. All replacement Parts will (i) be owned by LESSEE free and clear of all Security Interests (except Permitted Liens) of any kind or description (or, if not owned by LESSEE, LESSEE guarantees to LESSOR such title and clearance of all
Security Interests), (ii) be in airworthy condition and of at least equivalent model, service bulletin and modification status and have a value and utility at least equal to the Parts replaced, assuming such replaced Parts were in the condition
and repair required to be maintained by the terms hereof and (iii) meet the requirements of Articles 12.3.7 or 12.3.8, as applicable. So long as a substitution meets the requirements of the Maintenance Program and Aviation Authority,
LESSEE may substitute for any Part a part that does not meet the requirements of the foregoing sentence if a complying Part cannot be procured or installed within the available ground time of the Aircraft and as soon as practicable having due regard
to LESSEE’S operations, the noncomplying part is removed and replaced by a complying Part. Any replacement Parts will also comply with the requirements set forth in Article 12.2.2. 

 

	12.4.2	 All Parts removed from the Aircraft will remain the property of LESSOR and subject to this Lease no matter where located, until such time as such Parts
have been replaced by Parts (which have been incorporated or installed in or attached to the Aircraft) which meet the requirements for replacement Parts specified above and title to such replacement Parts has passed to LESSOR under the Laws of
the State of Registration and the lex situs. To the extent permitted by the Laws of the State of Registration and the lex situs, it is the intent of LESSOR and LESSEE that

  

					
		  	40	  	ARTICLE 12
		  		  	MAINTENANCE OF AIRCRAFT

	 	
without further act and immediately upon any replacement Part becoming incorporated, installed or attached to the Aircraft as above provided, (i) title to the removed Part will thereupon vest in
LESSEE, free and clear of all rights of LESSOR, (ii) title to the replacement Part will thereupon vest in LESSOR free and clear of all rights of LESSEE and (iii) such replacement Part will become subject to this Lease and be deemed to be a Part
hereunder to the same extent as the Parts originally incorporated or installed in or attached to the Aircraft. 

 12.5
Removal of Engines. 
  

	12.5.1	If an Engine is removed for testing, service, repair, maintenance, Overhaul work, alterations, modifications or any other reason, title to such Engine will at all times
remain vested in LESSOR. 

  

	12.5.2	LESSEE will be entitled to remove any of the Engines from the Aircraft and install another engine or engines on the Aircraft, provided that LESSEE complies with each of
the following obligations: 

 (1) the insurance requirements set forth in Article 18 and Exhibit C are in
place; 
 (2) LESSEE ensures that the identification plates referred to in Article 15 are not removed from any Engine upon
such Engine being detached from the Aircraft; and 
 (3) title to the Engine remains with LESSOR free from all Security Interests
(except Permitted Liens) regardless of the location of the Engine or its attachment to or detachment from the Aircraft. 
 12.6 Removal of
APU. 
  

	12.6.1	If the APU is removed for testing, service, repair, maintenance, Overhaul work, alterations, modifications or for any other reason, title to the APU will at all times
remain vested in LESSOR. 

  

	12.6.2	LESSEE will be entitled to remove the APU from the Aircraft and install another auxiliary power unit on the Aircraft, provided that LESSEE complies with each of the
following obligations: 

 (a) the insurance requirements set forth in Article 18 and Exhibit C are in
place; and 
 (b) title to the APU remains with LESSOR free from all Security Interests (except Permitted Liens) regardless of
the location of the APU or its attachment to or detachment from the Aircraft. 

  

					
		  	41	  	ARTICLE 12
		  		  	MAINTENANCE OF AIRCRAFT

 12.7 Pooling of Engines, APU and Parts. With LESSOR’s prior written consent, not to be
unreasonably withheld or delayed, LESSEE may subject the Engines, APU and Parts to normal interchange or pooling agreements with responsible international, scheduled commercial air carriers customary in the airline industry and entered into by
LESSEE in the ordinary course of its business with respect to its entire Airbus A319 fleet so long as (i) in the case of pooling of an Engine or the APU, such Engine or APU is returned to LESSEE within two (2) months, (ii) no transfer
of title to the Engine or APU occurs, (iii) all other terms of this Lease continue to be observed with respect to the Engines, APU or Parts, including Articles 8, 10, 12, 14, 15, 16, 17, 18 and 19 and (iv) LESSEE continues to be fully
responsible to LESSOR for the performance of all of its obligations hereunder. 
 12.8 Installation of Engines on other aircraft.
Any Engine removed from the Aircraft may be installed on another aircraft in LESSEE’s fleet which utilizes engines of the same type as the Engine only if one of the situations described in this Article 12.8 exists: 

 

	12.8.1	LESSEE or LESSOR has title to such other aircraft free and clear of all Security Interests (except Permitted Liens). 

 

	12.8.2	LESSEE, LESSOR and all of the Creditors of LESSEE of such aircraft enter into an engines cooperation, recognition of rights or similar agreement in form and substance
acceptable to LESSOR acting reasonably in which each party agrees to recognize one another’s rights in the engines. LESSEE will reimburse LESSOR and LESSOR’s Lender for their reasonable attorneys’ fees and reasonable documented costs
in negotiating and finalizing engine cooperation agreement arrangements with LESSEE and its Creditors. 

  

	12.8.3	Such other aircraft is subject to a Creditor Agreement (but no other Security Interests except Permitted Liens) which by its terms expressly or effectively states that
such Creditor and its successors and assigns will not acquire any right, title or interest in any Engine by reason of such Engine being installed on such aircraft. LESSEE hereby agrees that if LESSOR’s title to an Engine is in fact impaired
under any such Creditor Agreement, such impairment will be a Total Loss of such Engine and the provisions of Article 19.5 will apply. To the extent another Creditor Agreement contains such provisions, then LESSOR hereby agrees for the benefit
of the Creditor of such Creditor Agreement that neither LESSOR nor its successors or assigns will acquire or claim any right, title or interest in any engine in which LESSEE or another Creditor has an interest as a result of such engine being
installed on the Airframe nor any right, title or interest in any airframe of such Creditor on which an Engine is installed. 

  

					
		  	42	  	ARTICLE 12
		  		  	MAINTENANCE OF AIRCRAFT

 12.9 Modifications. 

 

	12.9.1	No modification, alteration or addition to or removal from the Aircraft (“Modification”) expected to cost over ***** or deviation from the
Aircraft’s original type design or configuration will be made without the prior written consent of LESSOR, which consent will not be unreasonably withheld or delayed. Airworthiness Directives, Manufacturer’s service bulletins and other
mandatory orders and service bulletins, compliance with which are required under this Lease, will not constitute “Modifications” and will not require LESSOR consent. 

 

	12.9.2	LESSOR may review LESSEE’s proposed designs, plans, engineering drawings and diagrams, and flight and maintenance manual revisions for any proposed Modification.
If requested by LESSOR, LESSEE will furnish LESSOR (at LESSEE’s expense) with such documents in final form and any other documents required by Law, as a result of such Modification. All modifications incorporated on the Aircraft will be
properly documented in the Aircraft Documentation as required by and shall, if required, be approved by the FAA and the Aviation Authority. All Modifications will also be accomplished in accordance with FAA and Aviation Authority-approved data. All
major modifications will be supported by an STC FAA Form 8100-9 or FAA Form 8110-3. 

  

	12.9.3	Notwithstanding any other provision of this Lease, no modification will be made which has the effect of decreasing the utility or value of the Aircraft or invalidating
any warranty applicable to the Aircraft. 

  

	12.9.4	No modification will be made by LESSEE if an Event of Default exists and is continuing hereunder. 

 

	12.9.5	Unless otherwise agreed by LESSOR in writing, all permanent or structural modifications will forthwith become a part of the Aircraft and LESSEE relinquishes to LESSOR
all rights and title thereto. However, all temporary and non-structural modifications will remain the property of LESSEE and, at LESSOR’s request and LESSEE’s cost, will be removed from the Aircraft prior to return of the Aircraft, with
LESSEE restoring the Aircraft to the condition it was in prior to the modification in a manner cosmetically acceptable to LESSOR acting reasonably. Notwithstanding the foregoing, no such removal will be permitted without LESSOR’s permission
after the occurrence of an Event of Default hereunder and immediately upon the occurrence and during the continuance of an Event of Default hereunder, without the requirement of any further act or notice, all right, title and interest in such
modifications will immediately vest in LESSOR unless and until such Event of Default is cured to LESSOR’s reasonable satisfaction. 

  

	12.9.6	LESSOR will bear no liability for the cost of modifications of the Aircraft whether in the event of grounding or suspensions of certification, or for any other cause.

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	43	  	ARTICLE 12
		  		  	MAINTENANCE OF AIRCRAFT

 12.10 Performance of Work by Third Parties. 

 

	12.10.1	All off-wing maintenance and repair work on an Engine, the APU and the Landing Gear must be performed by an FAA-approved repair station unless otherwise approved in
advance by LESSOR. 

  

	12.10.2	Whenever maintenance or repair work on the Airframe or on-wing maintenance or repair work on an Engine or the APU will be performed by a Person other than LESSEE, such
Person must be an FAA-approved repair station. 

 12.11 Reporting Requirements. 

 

	12.11.1	Commencing with a report furnished ten (10) days after the end of the calendar month in which Delivery occurs, LESSEE will furnish to LESSOR a Monthly Report in
English in the form attached hereto as Exhibit M. Each Monthly Report will be furnished within ten (10) days after the end of each calendar month, except that the Monthly Report pertaining to the last month (or any portion thereof) of
flying will be furnished to LESSOR on the Termination Date. 

  

	12.11.2	On each anniversary of the Delivery Date, following each twenty (20)-month period during the Lease Term, LESSEE will provide LESSOR with a Technical Evaluation
Report for the Aircraft in the form and substance of Exhibit O, as revised. 

  

	12.11.3	From time to time, LESSEE will provide LESSOR with such other technical information or documents as LESSOR may reasonably request. 

12.12 Maintenance Policies and Procedures Manuals. At LESSOR’s request for the purposes of demonstrating to LESSOR how the Aircraft
has been maintained, LESSEE at reasonable times without disruption of its operations and not more often that once annually, provide LESSOR, at LESSOR’s cost (unless an Event of Default has occurred and is continuing), with on site access to its
Maintenance Program, general maintenance manual, general policies and procedures manual, maintenance exposition manual, general engineering manual, or their equivalents, and any other related controlled documentation which affects the Aircraft.
Recognizing that LESSEE’s maintenance policies and procedures manuals are proprietary to LESSEE, LESSOR agrees that no copies of the same will be made without the consent of the LESSEE and that the same will be only utilized as set forth in
this Article 12.12 and Article 23.6. 
 12.13 LESSOR Inspection Rights. 

 

	12.13.1	At any time (subject to Article 12.13.4), LESSOR and/or its authorized agents or representatives (which may be Manufacturer or the Engine Manufacturer) will have
the right to inspect and take photographs of the Aircraft and review the Aircraft Documentation. 

  

					
		  	44	  	ARTICLE 12
		  		  	MAINTENANCE OF AIRCRAFT

	12.13.2	LESSEE will give LESSOR reasonable written notice before the Aircraft undergoes any “C’ or equivalent check. 

 

	12.13.3	If the Aircraft is at a third party maintenance facility, LESSEE will use reasonably efforts to cause such facility to allow LESSOR and/or its authorized agents or
representatives (which may be Manufacturer or the Engine Manufacturer) to inspect and take photographs of the Aircraft and review the Aircraft Documentation, notwithstanding the fact that LESSEE (as the party opening the work order) is considered
the “customer” of such facility, subject, in each case, to the rules, regulations and conditions of such maintenance facility and compliance by LESSOR and/or its authorized representatives or agents therewith. 

 

	12.13.4	LESSOR will provide LESSEE with reasonable notice prior to any inspection by LESSOR and/or its authorized agents or representatives (which may be Manufacturer or the
Engine Manufacturer) and will coordinate with LESSEE and/or any applicable third party maintenance facility so as to cause minimum practical disturbance to the operation or maintenance of the Aircraft or the personnel of LESSEE or the applicable
third party maintenance facility. 

  

	12.13.5	In the event that LESSOR disagrees with or otherwise disputes any information provided by LESSEE with respect to the Aircraft (unless LESSOR reasonably believes that
LESSEE would not provide the information), LESSEE expressly authorizes and consents to allowing Manufacturer, the Engine Manufacturer and their field service representatives to provide LESSOR with information about the condition and maintenance of
the Aircraft (including the Aircraft Documentation) on an ongoing basis. Manufacturer, the Engine Manufacturer and their field service representatives may report their findings and provide documentation to LESSOR without the need for any further
notice to or authorization from LESSEE. 

  

	12.13.6	LESSOR will have no duty to make any inspection of the Aircraft and will not incur any liability or obligation by reason of (and LESSEE’s indemnity obligations
pursuant to Article 17 will apply notwithstanding) LESSOR and/or its authorized agents or representatives making or not making any such inspection or by reason of any reports LESSOR receives regarding the Aircraft. 

  

					
		  	45	  	ARTICLE 12
		  		  	MAINTENANCE OF AIRCRAFT

	 	ARTICLE 13	USE OF RESERVES 

 13.1
Airframe Reserves (6 Year Check). LESSOR will reimburse LESSEE the Airframe Reserves (6 Year Check) that have accrued in such account from Delivery to the commencement date of the “6Y” check for which reimbursement
is requested. For the avoidance of doubt, the reimbursement shall remain subject to Article 16.1. 
 13.2 Airframe Reserves
(12 Year Check). In the event that LESSEE performs a “12Y” check on the Aircraft (including as part of a Return Check pursuant to Article 23.10.1), LESSOR will reimburse LESSEE ninety percent (90%) of the Airframe
Reserves (12 Year Check) and Airframe Reserves (6 Year Check) that have accrued and remain in such accounts on the commencement date of the “12Y” check for which reimbursement is requested. For the avoidance of doubt, the
reimbursement shall remain subject to Article 16.1. 
 13.3 Engine Performance Restoration Reserves. LESSOR acknowledges that
LESSEE has entered into a maintenance cost per flight hour agreement with the Engine Manufacturer (the “FHA Agreement”). LESSEE acknowledges that it is required under this Lease to pay to LESSOR the Engine Performance
Restoration Reserves even if the Engines are placed under the FHA Agreement. With respect to each Engine, LESSOR will reimburse LESSEE from the Engine Performance Restoration Reserves as follows. 

 

	13.3.1	For the first Qualified Performance Restoration that occurs following Delivery, LESSOR will reimburse LESSEE an amount equal to the total hours that such Engine has
accumulated during the Lease Term times ***** per Engine flight hour. 

  

	13.3.2	For the second Qualified Performance Restoration that occurs following Delivery, LESSOR will reimburse LESSEE an amount equal to the amount present (at the time of
removal of the Engine) in the particular Engine Performance Restoration Reserves account for such Engine. 

  

	13.3.3	For the avoidance of doubt, the reimbursements shall remain subject to Article 16.1. 

 13.4 Engine LLP Reserves. LESSOR will reimburse LESSEE from the Engine LLP Reserves for an Engine for the actual out-of-pocket materials cost without overhead, mark-up or profit factor, and
reduced by the amount of any “Waste Expense” (if applicable), associated with the replacement of life-limited Parts in such Engine during completed Engine shop visits (i.e. heavy maintenance visits), with work performed for all other
causes excluded, including those causes set forth in Article 13.8. “Waste Expense” means the product of (i) the number of unused cycles on a life-limited Part that is in excess of 10% of such part’s approved
life when new, at the time such life-limited Part is removed for replacement, multiplied by (ii) the quotient of the cost of the new replacement life-limited Part divided by the number of cycles which

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	46	  	ARTICLE 13
		  		  	USE OF RESERVES

 
constitutes the approved life of such life-limited Part. Subject to Article 16.1 and excluding exchange, material markup and outside vendor fees, and handling, packaging and shipping
charges, reimbursement for replacement of life-limited Parts in an Engine will be made up to the amount in the Engine LLP Reserves applicable to such Engine at the time of removal of such Engine. 

13.5 Landing Gear Reserves. LESSOR will reimburse LESSEE ninety percent (90%) of the Landing Gear Reserves that have accrued in such
account from Delivery to the commencement date of the Overhaul of the Landing Gear for which reimbursement is requested. For the avoidance of doubt, the reimbursement shall remain subject to Article 16.1. 

13.6 APU Reserves. LESSOR will reimburse LESSEE from the APU Reserves for the actual cost of a completed medium or heavy repair workscope
in accordance with the APU manufacturer’s approved manuals, with work performed for all other causes excluded, including those causes set forth in Article 13.8. Subject to Article 16.1 and excluding exchange, material markup and
outside vendor fees, and handling, packaging and shipping charges, reimbursement will be made up to the amount in the APU Reserves at the time of removal of the APU. 
 13.7 Reimbursement. 
  

	13.7.1	LESSEE will be entitled to reimbursement from the Reserves after the work is completed and the Airframe, Engine, Landing Gear or APU, as applicable, has left the repair
agency, by submitting reasonable evidence (which shall include the items below) of performance of such work and, if requested by LESSOR, an invoice from LESSEE to LESSOR for LESSEE’s reimbursement claim within six (6) months after
completion of the work. If LESSEE seeks reimbursement from the Reserves for work performed by LESSEE, such work will be charged at LESSEE’s out-of-pocket and unburdened labor and material costs. LESSEE may only seek reimbursement from the
Airframe Reserves one time in any calendar year. 

  

	13.7.2	For the Airframe, reasonable evidence of performance includes a list of all routine and non-routine tasks performed with corresponding references to the MPD and an
itemized labor and materials report. 

  

	13.7.3	 For an Engine and the APU, reasonable evidence of performance includes (i) an original invoice from LESSEE to LESSOR for LESSEE’s
reimbursement claim, (ii) a description of the reason for removal, (iii) the date of removal and the aircraft removed from (which may be the Aircraft), (iv) the total hours and cycles at the time of removal, (v) the hours and
cycles since last shop visit, (vi) a full description of the final workscope, (vii) a description of the type of maintenance performed (including on each module, if applicable), (viii) complete disk records for the Engine both prior
to and after the shop visit, (ix) a shop findings report, (x) a copy of any test cell performance data, (xi) an on and off log of Parts (configuration 

  

					
		  	47	  	ARTICLE 13
		  		  	USE OF RESERVES

	 	
listing) tracked by LESSEE and the repair facility, (xii) a current service bulletin and Airworthiness Directive listing, (xiii) written verification from the repair facility that the Engine or
APU has been released and shipped from the repair facility back to LESSEE, (xiv) the status of all warranty claims and (xv) an itemization of all concessions, warranty credits or other credits which have been or will be provided for work
accomplished on the Engine or APU during the applicable shop visit (or, if none, a written statement from LESSEE stating that it has not received and does not have pending any such concessions, warranty credits or other credits).

  

	13.7.4	For the Landing Gear, reasonable evidence of performance includes (i) a release tag from the overhaul facility and all associated build records, including
traceability on all life-limited parts, and (ii) the total calendar time, hours and cycles on the Landing Gear both prior to and after the Overhaul. 

 13.8 Reimbursement Adjustment. 
  

	13.8.1	By way of example, among the exclusions from reimbursement are work or items: 

 (a) resulting from repairs actually covered by LESSEE’s or a third party’s insurance (deductibles being for the account of LESSEE and not reimbursable) or covered by warranties to the extent of
recovery by LESSEE under such insurance or warranties; or 
 (b) required as a result of an Airworthiness Directive,
manufacturer’s service bulletin (unless approved in advance by LESSOR, which approval will not be unnecessarily withheld or delayed), negligence, non-routine or non-scheduled maintenance, faulty maintenance or installation, improper operations,
misuse, accident, incident, ingestion (foreign object damage) or other accidental cause. 
  

	13.8.2	All invoices subject to reimbursement from LESSOR will be reduced (by adjustment between LESSEE and LESSOR retroactively if necessary) by the actual amounts received by
LESSEE on account of such work from responsible third parties or other sources, such as insurance proceeds, manufacturer’s warranties, guarantees, concessions and credits (including, with respect to Engines, credits due to life remaining on any
removed Engine Parts). Notwithstanding anything to the contrary herein, in the event that any accident, incident, injection incident or other accidental cause necessitates a repair and during such repair the workscope performed results in
performance restoration to the Engine or installation of LLPs with more life remaining, the performance of such workscope may be claimed by LESSEE from the Engine Performance Restoration Reserves and/or Engine LLP Reserves. 

  

					
		  	48	  	ARTICLE 13
		  		  	USE OF RESERVES

 13.9 Costs in Excess of Reserves. LESSEE will be responsible for payment of all costs in
excess of the amounts reimbursed hereunder. If on any occasion the available balance in the Airframe Reserves, Engine Performance Restoration Reserves for a particular Engine, Engine LLP Reserves for a particular Engine, Landing Gear Reserves or APU
Reserves (at the time of the structural check, in the case of the Airframe, or at the time of removal, in the case of an Engine, the Landing Gear and the APU) is insufficient to satisfy a claim for reimbursement in respect of the Airframe, such
Engine, the Landing Gear or the APU, as applicable, the shortfall may not be carried forward or made the subject of any further claim for reimbursement. 
 13.10 Reimbursement after Termination Date. LESSEE may not submit any invoice for reimbursement from the Reserves after the Termination Date unless on or prior to such date LESSEE has
notified LESSOR in writing that such outstanding invoice will be submitted after the Termination Date and the anticipated amount of such invoice. So long as LESSEE has provided such notice to LESSOR, LESSEE may then submit such outstanding invoice
at any time within six (6) months after the Termination Date. Subject to the foregoing, any balance remaining in the Reserves on the Termination Date, including termination on account of a Total Loss of the Aircraft, will be retained by LESSOR.

 13.11 Total Loss. Upon receipt by LESSOR of the Agreed Value and all other amounts then due by LESSEE, LESSOR shall return to
LESSEE fifty percent (50%) of all amounts then held by LESSOR as reserves. In the event of a Total Loss and payment of the Agreed Value in accordance with the terms of this Article 13.11, LESSEE agrees that no invoices to LESSOR will be
reimbursed. 

  

					
		  	49	  	ARTICLE 13
		  		  	USE OF RESERVES

	 	ARTICLE 14	TITLE AND REGISTRATION 

 14.1
Title to the Aircraft. Title to the Aircraft will be and remain vested in LESSOR. LESSOR and LESSEE intend this Lease to be a “true lease”. LESSEE will have no right, title or interest in the Aircraft except as provided in
this Lease. 
 14.2 Registration of Aircraft. LESSEE at its sole cost and expense will (i) register and maintain registration
of the Aircraft in the name of LESSOR at the register of aircraft in the State of Registration and (ii) from time to time take all other steps then required by Law (including the Geneva Convention or the Cape Town Convention if and as
applicable) or as LESSOR may reasonably request to protect and perfect LESSOR’s interest in the Aircraft and this Lease in the State of Registration or in any other jurisdictions in or over which LESSEE may operate the Aircraft. 

14.3 Cape Town Convention. If the Cape Town Convention has been or is ratified or made applicable in the United States or Mexico, then:

  

	14.3.1	LESSOR may elect to cause the interests of LESSOR in this Lease, the other Operative Documents and the Aircraft (including in the Engines) to be registered in the
International Registry to the fullest extent such interests may be registered. At LESSOR’s request, LESSEE will provide reasonable assistance and cooperation to LESSOR in order to procure such registration, including consenting to or causing
such registration to be made, at LESSOR’s election, as a prospective international interest or an international interest and via a designated entry point (as such terms are used in the Cape Town Convention). 

 

	14.3.2	At LESSOR’s request, LESSEE will perform such additional acts and execute and deliver such agreements and instruments as may be reasonably determined by LESSOR to
be necessary or appropriate to (i) protect and perfect LESSOR’s interest in the Aircraft, this Lease and the other Operative Documents under the Cape Town Convention and (ii) enhance the enforceability of the commercial agreements of
LESSEE and LESSOR under the Cape Town Convention to the greatest extent permitted by the Cape Town Convention. Actions to be requested by LESSOR may include entering into amendments to this Lease or the other Operative Documents as are necessary to
constitute a prospective international interest or an international interest under the Cape Town Convention. 

  

	14.3.3	Unless LESSEE obtains LESSOR’s prior written consent, LESSEE undertakes that it will not consent to or permit any Person other than LESSOR and LESSEE (as permitted
under this Lease) to make any International Registry filings (including prospective filings) under the Cape Town Convention in relation to this Lease, the other Operative Documents or the Aircraft (including the Engines). 

 

	14.3.4	LESSEE will be responsible for all costs and expenses arising out of the requirements of this Article 14.3. 

  

					
		  	50	  	ARTICLE 14
		  		  	TITLE AND REGISTRATION

 14.4 Filing of this Lease. To the extent permitted by Law and in accordance with the
requirements of the Law from time to time, LESSEE at its sole cost and expense will cause this Lease to be kept, filed, recorded and refiled or rerecorded in the State of Registration and in any other offices necessary to protect LESSOR’s
rights hereunder. 

  

					
		  	51	  	ARTICLE 14
		  		  	TITLE AND REGISTRATION

	 	ARTICLE 15	IDENTIFICATION PLATES 

 LESSOR will affix and LESSEE will at all times maintain on the Airframe and each Engine the identification plates containing the following legends or any other legend requested by LESSOR in writing:

 15.1 Airframe Identification Plates. 
  

			
	Location:	  	One to be affixed to the Aircraft structure above the forward entry door adjacent to and not less prominent than that of Manufacturer’s data plate and another in a prominent
place on the flight deck.
		
	Size:	  	No smaller than 2” x 3”.
		
	Legend:	  	“THIS AIRCRAFT IS OWNED BY INTERNATIONAL LEASE FINANCE CORPORATION.
		
		  	MANUFACTURER’S SERIAL NO:        {MSN of Aircraft}
		
		  	OWNER’S ADDRESS:
		
		  	INTERNATIONAL LEASE FINANCE CORPORATION
		  	10250 Constellation Boulevard, 34th Floor
		  	Los Angeles, California 90067, U.S.A.
		
		  	Fax: (310) 788-1990”

 15.2 Engine Identification Plates. 

 

			
	 Location:
	  	The legend on the plate must be no less prominent than the Engine data plate and must be visible.
		
	 Size:
	  	No smaller than 1” x 4”.
		
	 Legend:
	  	“THIS ENGINE IS OWNED BY INTERNATIONAL LEASE FINANCE CORPORATION, LOS ANGELES, CALIFORNIA, USA.”

  

					
		  	52	  	ARTICLE 15
		  		  	IDENTIFICATION PLATES

	 	ARTICLE 16	TAXES 

 16.1 General
Obligation of LESSEE. Except as set forth in Article 16.2, LESSEE agrees to pay promptly when due, and to indemnify and hold harmless LESSOR on a full indemnity basis from, all license and registration fees and all taxes, fees, levies,
imposts, duties, charges, deductions or withholdings of any nature (including without limitation any value added, franchise, transfer, sales, gross receipts, use, business, excise, turnover, personal property, stamp or other tax) together with any
assessments, penalties, fines, additions to tax or interest thereon, however or wherever imposed (whether imposed upon LESSEE, LESSOR, on all or part of the Aircraft, the Engines or otherwise), by any Government Entity or taxing authority in the
U.S., Mexico or any foreign country or by any international taxing authority (including the City or County of Los Angeles), upon or with respect to, based upon or measured by any of the following (collectively, “Taxes”):

 (a) the Aircraft, Engines, APU or any Parts; 
 (b) the use, operation or maintenance of the Aircraft or carriage of passengers or freight during the Lease Term and until the Termination Date; 

(c) this Lease, the payments due hereunder and the terms and conditions hereof; and 

(d) the ownership, financing, delivery, import or export, return, sale, payment of Total Loss Proceeds or other disposition of the
Aircraft. 
 16.2 Exceptions to Indemnity. The indemnity provided for in Article 16.1 does not extend to any of the following
Taxes: 
 (a) Taxes imposed by the U.S. or the State of California or the City or County of Los Angeles on the gross or net
income, gross receipts, gains, profits, capital or net worth of LESSOR; 
 (b) Taxes attributable to the period prior to Delivery
or after the Termination Date; 
 (c) Taxes attributable to LESSOR’s gross negligence, willful misconduct or breach of this
Lease or any other agreement, document or instrument entered into and/or delivered in connection herewith by or between LESSOR and LESSEE (unless such breach was caused by an act or omission by LESSEE); 

(d) Taxes imposed upon LESSOR by any jurisdiction which would have been imposed upon LESSOR had LESSOR and LESSEE not entered into and

  

					
		  	53	  	ARTICLE 16
		  		  	TAXES

 
consummated the transactions contemplated by this Lease and other Taxes imposed upon LESSOR as a result of any past, present or future activities of LESSOR in the jurisdiction imposing any such
Taxes which are unrelated to the transactions contemplated by this Lease; 
 (e) Taxes imposed upon LESSOR as a result of a sale,
assignment, transfer or other disposition, whether voluntary or involuntary, by LESSOR or any Person claiming by or through LESSOR of all or any part of its interest in or to the Aircraft and/or this Lease unless, in each case, such sale,
assignment, transfer or other disposition occurs pursuant to (i) Article 11, 12 or 19 of this Lease or (ii) the exercise of remedies pursuant to Article 25 of this Lease; 

(f) Taxes attributable to a LESSOR’s Lien, to the extent that such Taxes would not have arisen or been assessed in the absence of a
LESSOR’s Lien; 
 (g) Taxes or additional or incremental Taxes and penalties or interest thereon that would not have been
imposed but for a failure of LESSOR to provide, following a reasonable request therefor, information necessary for LESSEE to complete and file any tax return or request an otherwise legally available exemption or which result from any failure by
LESSOR to file any return which LESSOR is required by Law to file in respect of any such Tax; but only if such information was reasonably available to LESSOR and, in the case of certificates, documentation or other evidence requiring disclosure of
knowledge of factual information (such as the location of an Aircraft) that is known to LESSEE but not readily ascertainable by such LESSOR, only if LESSEE provides such information to LESSOR in a timely manner and at LESSEE’s cost; 

(h) Without limiting LESSOR’s right to pursue payment from LESSEE for a particular Tax under this Article 16 or
Article 25.6, Taxes for which LESSOR actually receives payment from LESSEE for under any provision of this Lease and the payment of which would otherwise constitute a double recovery; 

(i) Taxes which are not yet due or are being contested in good faith by LESSOR or any Person claiming by or through LESSOR by appropriate
proceedings, during the pendency of such proceedings; or 
 (j) Taxes which constitute the normal operating expense or overhead
of LESSOR. 
 16.3 After-Tax Basis. The amount which LESSEE is required to pay with respect to any Taxes indemnified against under
Article 16.1 is an amount sufficient to restore LESSOR on an after-tax basis to the same position LESSOR would have been in had such Taxes not been incurred. 

  

					
		  	54	  	ARTICLE 16
		  		  	TAXES

 16.4 Timing of Payment. Any amount payable to LESSOR pursuant to this Article 16 will be
paid within ten (10) Business Days after receipt of a written demand therefor from LESSOR accompanied by a written statement describing in reasonable detail the basis for such indemnity and the computation of the amount so payable; provided,
however, that such amount need not be paid by LESSEE prior to the earlier of (i) the date any Tax is payable to the appropriate Government Entity or taxing authority or (ii) in the case of amounts which are being contested by LESSEE in
good faith or by LESSOR pursuant to Article 16.5, the date such contest is finally resolved. 
 16.5 Contests. If a claim is
made against LESSOR for Taxes with respect to which LESSEE is liable for a payment or indemnity under this Lease, LESSOR will promptly give LESSEE notice in writing of such claim; provided, however, that LESSOR’s failure to give notice will not
relieve LESSEE of its obligations hereunder except to the extent such failure materially impairs or precludes LESSEE’s ability to contest the claim or results in penalties, interest or additions to Taxes which are attributable to such delay. So
long as (i) a contest of such Taxes does not involve any likelihood of the sale, forfeiture or loss of the Aircraft or any interest therein, (ii) if LESSOR so requests, LESSEE has provided LESSOR with an opinion of independent tax counsel
that a reasonable basis exists for contesting such claim and (iii) adequate reserves have been made for such Taxes or, if required, an adequate bond has been posted, then LESSOR at LESSEE’s written request will in good faith, with due
diligence and at LESSEE’s expense, contest (or permit LESSEE to contest in the name of LESSEE or LESSOR) the validity, applicability or amount of such Taxes. 
 16.6 Refunds. Upon receipt by LESSOR of a refund of all or any part of any Taxes (including any deductions or withholdings referred to in Article 5.8) which LESSEE has paid, LESSOR will
pay to LESSEE the net amount of such Taxes refunded. 
 16.7 Cooperation in Filing Tax Returns. LESSEE and LESSOR will cooperate
with one another in providing information which may be reasonably required to fulfill each party’s tax filing requirements and any audit information request arising from such filing. 

For the avoidance of doubt, LESSEE will for purposes of the calculation and its payment of the Mexican assets tax (including without
limitation Article 25 of the Assets Tax Law Regulation), elect to treat its rights on the Aircraft pursuant to this Lease as an “asset”. 
 16.8 Survival of Obligations. The representations, warranties, indemnities and agreements of LESSEE provided for in this Article 16 will survive the Termination Date. 

  

					
		  	55	  	ARTICLE 16
		  		  	TAXES

	 	ARTICLE 17	INDEMNITIES 

 17.1 General
Indemnity. Except as set forth in Article 17.2, LESSEE agrees to indemnify and hold harmless LESSOR and its officers, directors, employees, agents and shareholders (individually an “Indemnitee” and collectively
“Indemnitees”) from any and all liabilities, obligations, losses, damages, fines, penalties, claims, actions, suits, costs, disbursements and expenses (including legal fees, costs and related expenses) of every kind and
nature (collectively “Expenses”) which are imposed on, incurred by or asserted against any Indemnitee or the Aircraft by any Person other than LESSEE and which are in any way relating to, based on or arising out of any of the
following: 
 (a) the operation, possession, use, non-use, control, leasing, subleasing, maintenance, storage, overhaul, testing
or inspections of the Aircraft, any Engine, the APU or any Part (whether by LESSEE, any sublessee or any other Person) during the Lease Term and until the Termination Date (including the acceptance flights at return), whether or not the same is in
compliance with the terms of this Lease, including without limitation claims for death, personal injury, property damage, other loss or harm to any Person and claims relating to any Laws, including without limitation environmental control, noise and
pollution laws, rules or regulations; 
 (b) fuel, airport or enroute navigation charges (including Eurocontrol charges),
navigation service charges, landing fees and all charges payable for the use of or for services provided at any airport, whether in respect of the Aircraft or any other aircraft of LESSEE, during the Lease Term and until the Termination Date;

 (c) the manufacture, design, acceptance, rejection, delivery, return, sale after an Event of Default, import, export,
condition, repair, modification, servicing, rebuilding, enforcement of warranties whether in LESSOR’s or LESSEE’s name, customer support, product support, information or training provided by Manufacturer and other vendors, airworthiness,
registration, reregistration, performance, sublease, merchantability, fitness for use, substitution or replacement of the Aircraft, an Engine, the APU or any Part under this Lease or other transfer of use or possession of the Aircraft, an Engine,
the APU or any Part, including under a pooling or interchange arrangement prior to the Termination Date, including without limitation latent and other defects, whether or not discoverable and patent, trademark or copyright infringement; 

(d) the prevention or attempt to prevent the arrest, confiscation, seizure, taking in execution, impounding, forfeiture or detention of
the Aircraft, or in securing the release of the Aircraft; or 
 (e) as a consequence of any Default or Event of Default by
LESSEE, without duplication of remedies or recovery. 

  

					
		  	56	  	ARTICLE 17
		  		  	INDEMNITIES

 The foregoing indemnity by LESSEE is intended to include and cover any Expense to which an Indemnitee may be
subject (in contract, tort, strict liability or under any other theory) regardless of the negligence, active or passive or any other type, of such Indemnitee, so long as such Expense does not fall within any of the exceptions listed in
Article 17.2. 
 17.2 Exceptions to General Indemnities. The indemnity provided for in Article 17.1 will not extend to
Expenses of any Indemnitee to the extent resulting from or arising out of any of the following: 
 (a) Expenses which LESSEE and
LESSOR mutually agree or, absent mutual agreement, are judicially determined to have resulted from the willful misconduct of such Indemnitee; 
 (b) Expenses which LESSEE and LESSOR mutually agree or, absent mutual agreement, are judicially determined to be attributable to acts or events which occur after the Termination Date and return of the
Aircraft to LESSOR in the condition required hereunder, but in any such case only to the extent not attributable to acts or omissions of LESSEE; 
 (c) Expenses representing Taxes, it being acknowledged that the terms of Article 16 apply exclusively to LESSEE’s indemnity obligations with respect to Taxes; 

(d) Expenses due to the breach by LESSOR of its covenant of quiet enjoyment pursuant to Article 21.2 (except to the extent covered by
the insurances LESSEE is required to carry pursuant to Article 18); 
 (e) Expenses which constitute ordinary and usual
operating or overhead expenses of LESSOR or any other Indemnitee; or 
 (f) Expenses attributable to a sale, assignment, transfer
or other disposition, whether voluntary or involuntary, by LESSOR or any Indemnitee of all or any part of its interest in or to the Aircraft and/or this Lease unless, in each case, such sale, assignment, transfer or other disposition occurs pursuant
to (i) Article 11, 12 or 19 of this Lease or (ii) the exercise of remedies pursuant to Article 25 of this Lease. 
 17.3
After-Tax Basis. The amount which LESSEE will be required to pay with respect to any Expense indemnified against under Article 17.1 will be an amount sufficient to restore the Indemnitee, on an after-tax basis, to the same
position such Indemnitee would have been in had such Expense not been incurred. 

  

					
		  	57	  	ARTICLE 17
		  		  	INDEMNITIES

 17.4 Timing of Payment. It is the intent of the parties that each Indemnitee will have the
right to indemnification for Expenses hereunder as soon as a claim is made and as soon as an Expense is incurred, whether or not such claim is meritorious and whether or not liability is established (but subject to Article 17.8). LESSEE will
pay an Indemnitee for Expenses pursuant to this Article 17 within ten (10) Business Days after receipt of a written demand therefor from such Indemnitee accompanied by a written statement describing in reasonable detail the basis for such
indemnity. 
 17.5 Subrogation. Upon the payment in fall of any indemnity pursuant to this Article 17 by LESSEE, LESSEE will
be subrogated to any right of the Indemnitee in respect of the matter against which such indemnity has been made. 
 17.6
Notice. Each Indemnitee and LESSEE will give prompt written notice one to the other of any liability of which such party has knowledge for which LESSEE is, or may be, liable under Article 17.1; provided, however, that
failure to give such notice will not terminate any of the rights of Indemnitees under this Article 17 except to the extent that LESSEE has been materially prejudiced by the failure to provide such notice. 

17.7 Refunds. If any Indemnitee obtains a recovery of all or any part of any amount which LESSEE has paid to such Indemnitee, such
Indemnitee will pay to LESSEE the net amount recovered by such Indemnitee. 
 17.8 Defense of Claims. Unless a Default or Event of
Default has occurred and is continuing, LESSEE and its insurers will have the right (in each such case at LESSEE’s sole expense) to investigate or, provided that LESSEE or its insurers have not reserved the right to dispute liability with
respect to any insurance policies pursuant to which coverage is sought, defend or compromise any claim covered by insurance for which indemnification is sought pursuant to Article 17.1 and each Indemnitee will cooperate with LESSEE or its
insurers with respect thereto. If LESSEE or its insurers are retaining attorneys to handle such claim, such counsel must be reasonably satisfactory to the Indemnitees. If not, the Indemnitees will have the right to retain counsel of their choice at
LESSEE’s expense. 
 17.9 No Double Recovery. Without limiting LESSOR’s right to pursue payment from LESSEE for a
particular Expense under both this Article 17 and Article 25.6, LESSOR will not be entitled to actually receive payment from LESSEE for the same Expense twice. 
 17.10 Survival of Obligation. Notwithstanding anything in this Lease to the contrary, the provisions of this Article 17 will survive the Termination Date and continue in full force and
effect notwithstanding any breach by LESSOR or LESSEE of the terms of this Lease, the termination of the lease of the Aircraft to LESSEE under this Lease or the repudiation by LESSOR or LESSEE of this Lease. 

  

					
		  	58	  	ARTICLE 17
		  		  	INDEMNITIES

	 	ARTICLE 18	INSURANCE 

 18.1 Categories
of Insurance. Throughout the Lease Term and until the Termination Date, LESSEE will, at its own expense, effect and maintain in full force and effect the types of insurance and amounts of insurance (including deductibles) described in
Exhibit C through such brokers and with such insurers as may be acceptable to LESSOR, such acceptance not to be unreasonably withheld or delayed, in London or New York or such other insurance markets as mutually agreed upon by the parties.

 18.2 Write-back of any Date Recognition Exclusion. In the event any of LESSEE’s insurances (either the primary insurance
or the reinsurance) contain any date recognition exclusion clause or similar clause excluding from such insurance coverage damage to any property (including the Aircraft) or death or injury to any person on account of accidents, incidents or
occurrences caused by date recognition or other Year 2000-related problems, LESSEE at its cost will obtain for the benefit of itself, and LESSOR the broadest write-back available in the London or U.S. insurance market with respect to such exclusion.

 18.3 Write-backs of LSW555.D and AVN48C Exclusions. In the event that a write-back of the exclusions (losses due
to causes such as dirty bombs, electromagnetic weapons, radioactive contamination and chemical, biological and/or biochemical hazards) to the standard London policy forms LSW555.D and, if issued, AVN48C becomes available at commercially reasonable
terms, LESSEE at its cost will obtain through the benefit of itself and LESSOR the broadest write-back available in the London or U.S. insurance market with respect to such exclusions to the extent and with policy limits consistent with general
market practices applicable to similarly situated carriers or, if greater, as maintained in respect of any other aircraft of like make and model in LESSEE’s fleet. 
 18.4 Installation of Third Party Engine. If LESSEE installs an engine not owned by LESSOR on the Aircraft, either (1) LESSEE’s hull insurance on the Aircraft will automatically
increase to such higher amount as is necessary in order to satisfy both LESSOR’s requirement to receive the Agreed Value in the event of a Total Loss and the amount required by the third party engine owner or (2) separate additional
insurance on such engine will attach in order to satisfy separately the requirements of the LESSEE to such third party engine owner. 
 18.5
LESSOR Coverage for LESSEE’s Employees. LESSOR and the other additional insureds will be covered under LESSEE’s legal liability insurance for death or injury to LESSEE’s employees. 

18.6 Insurance for Indemnities. The insurance referred to in Article 18.1 will in each case include and insure (to the extent of the
risks covered by the policies) the indemnity provisions of Article 17 and LESSEE will maintain such insurance of the indemnities for a period of two (2) years following the Termination Date. 

  

					
		  	59	  	ARTICLE 18
		  		  	INSURANCE

 18.7 Insurance required by Manufacturer. During the Lease Term, LESSEE will carry any
insurance required by Manufacturer in connection with the assignment of any Manufacturer warranties, customer support or product support to LESSEE. 
 18.8 Renewal. From time to time when reasonably requested by LESSOR, LESSEE will confirm to LESSOR regarding the status of the renewal or replacement of LESSEE’s insurance. Prior to or
on the expiration or termination date of any insurance required hereunder, LESSEE will provide LESSOR with fax or e-mail confirmation from LESSEE’s insurance brokers that such insurance has been renewed or has been replaced in a manner
consistent with the requirements hereof and that certificates of insurance evidencing the renewal or replacement of such insurance and complying with Exhibit C will be issued on the termination date of the prior certificate. Within
seven (7) days after such renewal, LESSEE will furnish its brokers’ certificates of insurance to LESSOR. 
 18.9 Assignment of
Rights by LESSOR. If LESSOR assigns all or any of its rights under this Lease or otherwise disposes of any interest in the Aircraft to any other Person, LESSEE will, upon written request, procure that such Person, in each case as permitted
by this Lease, hereunder be added as loss payee and/or additional assured in the policies effected hereunder and, if applicable substituted as Loss Payee under the hull insurance and enjoy the same rights and insurance enjoyed by LESSOR under such
policies. LESSOR will nevertheless continue to be covered by such policies. 
 18.10 Insurance for Wet Lease Operations. In the
event LESSEE is performing wet lease operations with the Aircraft pursuant to Article 11.7 and the wet lessee is carrying the primary passenger, baggage cargo liability insurance with respect to the flights, then such insurance will meet the
requirements of Exhibit C, including with respect to the amounts of coverage, naming of LESSOR as an additional insured and inclusion of the other endorsements described in Exhibit C. Moreover, LESSEE will at all times carry contingent
passenger, baggage and cargo liability insurances for such flights. Prior to commencement of wet lease operations for a particular wet lessee, LESSOR will receive certificates of insurance from the insurance brokers for LESSEE and, if applicable,
the wet lessee evidencing such coverages. 
 18.11 Other Insurance. In the event of a material change in standard market practices
with respect to air carriers similarly situated to LESSEE occurs following Delivery, LESSOR may, acting reasonably and upon consultation with LESSEE’s designated brokers and other LESSORS of Aircraft within LESSEE’s fleet from time to time
by notice to LESSEE require LESSEE at LESSEE’s expense to effect such other insurance or such variations to the terms of the existing insurance as may then be customary in the airline industry for aircraft of the same type as the Aircraft
operated by carriers similarly situated to LESSEE and at the time commonly available in the insurance market on commercially reasonable terms. 

  

					
		  	60	  	ARTICLE 18
		  		  	INSURANCE

 18.12 Information. LESSEE will provide LESSOR with any information reasonably requested by
LESSOR from time to time concerning the insurance maintained with respect to the Aircraft or in connection with any claim being made or proposed to be made thereunder, except for information regarding insurance premiums and the level of insurance
LESSEE has obtained above the requirements of this Lease, so long as such level is not in violation of this Lease. 
 18.13
Currency. All proceeds of insurance pursuant to this Lease will be payable in Dollars except as may be otherwise agreed by LESSOR. 
 18.14 Grounding of Aircraft. If at any time any of the insurance required pursuant to this Lease will cease to be in full force and effect, LESSEE will forthwith ground the Aircraft and keep
the Aircraft grounded until such time as such insurance is in full force and effect again. 
 18.15 Failure to Insure. If at any
time LESSEE fails to maintain insurance in compliance with this Article 18, LESSOR will be entitled but not bound to do any of the following (without prejudice to any other rights which it may have under this Lease by reason of such failure):

 (a) to pay any premiums due or to effect or maintain insurance satisfactory to LESSOR or otherwise remedy such failure in such
manner as LESSOR considers appropriate (and LESSEE will upon demand reimburse LESSOR in full for any amount so expended in that connection); or 
 (b) at any time while such failure is continuing, to require the Aircraft to remain at any airport or (as the case may be), proceed to and remain at any airport designated by LESSOR, until such failure is
remedied to LESSOR’s satisfaction. 
 18.16 Reinsurance. Any reinsurance will be maintained with reinsurers and brokers
acceptable to LESSOR, acting reasonably. Such reinsurance will contain each of the following terms and will in all other respects (including amount) be satisfactory to LESSOR: 
 (a) the same terms as the original insurance; 
 (b) a cut-through and assignment
clause satisfactory to LESSOR, acting reasonably; and 
 (c) payment will be made notwithstanding 1. any bankruptcy, insolvency,
liquidation or dissolution of any of the original insurers and/or 2. that the original insurers have made no payment under the original insurance policies. 
 18.17 Limit on Hull in favor of LESSEE. LESSEE may carry hull all risks or hull war and allied perils on the Aircraft in excess of the Agreed Value (which is payable to LESSOR) only to the
extent such excess insurance which would be payable to LESSEE in the event of a 

  

					
		  	61	  	ARTICLE 18
		  		  	INSURANCE

 
Total Loss does not exceed ten percent (10%) of the Agreed Value and only to the extent that such additional insurance will not prejudice the insurances required in this Lease or the
recovery by LESSOR thereunder. LESSEE agrees that it will not create or permit to exist any liens or encumbrances over the insurances, or its interest therein, except as constituted by this Lease. 

  

					
		  	62	  	ARTICLE 18
		  		  	INSURANCE

	 	ARTICLE 19	LOSS, DAMAGE AND REQUISITION 

 Throughout the Lease Term and until the Termination Date, LESSEE will bear all risk of loss, theft, damage and destruction to the Aircraft. 

 

	19.1	Definitions. In this Article 19 and this Lease: 

“Agreed Value” means an amount equal to seventy two percent (72%) of the Manufacturer’s
list price for the Aircraft on the Delivery Date, based upon the invoice provided by Manufacturer; provided, however, that the Agreed Value will be decreased by 2% of such amount on each yearly anniversary of the Delivery Date. 

“Net Total Loss Proceeds” means the Total Loss Proceeds actually received by LESSOR following a
Total Loss, less any reasonable legal and other out-of-pocket expenses, taxes or duties incurred by LESSOR in connection with the collection of such proceeds. 
 “Total Loss” means any of the following in relation to the Aircraft, Airframe, any Engine or the APU and “Total Loss Date” means the date set forth in
parenthesis after each Total Loss: 
 (a) destruction, damage beyond repair or being rendered permanently unfit for normal use
for any reason (the date such event occurs or, if not known, the date on which the Aircraft, Airframe, Engine or APU was last heard of); 
 (b) actual, constructive, compromised, arranged or agreed total loss (the earlier of the date on which the loss is agreed or compromised by the insurers or forty five (45) days after the date of
notice to LESSEE’s brokers or insurers claiming such total loss); 
 (c) requisition of title, confiscation, forfeiture or
any compulsory acquisition or other similar event (the date on which the same takes effect); 
 (d) sequestration, detention,
seizure or any similar event for more than forty five (45) consecutive days (the earlier of the date on which insurers make payment on the basis of a total loss or the date of expiration of such period); 

(e) requisition for use for more than one hundred eighty (180) consecutive days, except as set forth in Article 19.9 (the
earlier of the date on which the insurers make payment on the basis of a total loss or the date of expiration of such period); 

(f) in the case of an Engine, the event described in Article 12.8.3 (the date on which the same takes effect); 

  

					
		  	63	  	ARTICLE 19
		  	LOSS, DAMAGE AND REQUISITION

 (g) any sale of the Aircraft in connection with Eurocontrol or other navigation or airport
charges (the date on which the sale occurs); 
 (h) any sale of the Aircraft in connection with a LESSEE bankruptcy, whether by
an administrator, trustee or court (the date on which the intent to sell the Aircraft becomes known); or 

(i) any other occurrence not permitted under this Lease which deprives LESSEE of use or possession for a period of
sixty (60) consecutive days or longer (the 60th day
of such period). 
 “Total Loss Proceeds” means the proceeds of any insurance or any
compensation or similar payment arising in respect of a Total Loss. 
 19.2 Notice of Total Loss. LESSEE will notify LESSOR in
writing within two (2) Business Days after a Total Loss Date of the Aircraft, Airframe, any Engine or the APU. 
 19.3 Total Loss of
Aircraft or Airframe. If the Total Loss of the Aircraft or Airframe occurs during the Lease Term, the following will occur: 
  

	19.3.1	After the Total Loss Date and until receipt by LESSOR of the Agreed Value and all other amounts then due under this Lease, LESSEE will continue to pay Rent and the
parties will perform all of their other obligations under this Lease. 

  

	19.3.2	On the date which is the earlier of the following dates: 

 (a) the date on which the Total Loss Proceeds of the Aircraft or the Airframe are paid by LESSEE’s insurance underwriters or brokers and 

(b) the date which falls thirty (30) days after the Total Loss Date, 

LESSEE will pay to LESSOR an amount equal to the sum of: 
 (a) the Agreed Value and 
 (b) all other amounts then due and payable by LESSEE
under this Lease, 
 less an amount equal to the Net Total Loss Proceeds received by LESSOR by such date. 

 

	19.3.3	LESSOR will apply the Net Total Loss Proceeds and any amounts received from LESSEE pursuant to Article 19.3.2 as follows: 

(a) first, in discharge of any unpaid Rent and any other amounts accrued and unpaid up to the date of LESSOR’s receipt of the Agreed
Value; 

  

					
		  	64	  	ARTICLE 19
		  	LOSS, DAMAGE AND REQUISITION

 (b) second, in discharge of the Agreed Value; and 

(c) third, payment of the balance, if any, to LESSEE. 
  

	19.3.4	Upon receipt by LESSOR of all monies payable by LESSEE in Article 19.3, provided no Default or Event of Default has occurred and is continuing, this Lease will
terminate except for LESSEE’s obligations under Articles 10.5, 16 and 17 which survive the Termination Date. 

 FOR
AVOIDANCE OF DOUBT, THE AGREED VALUE OF THE AIRCRAFT WILL BE PAYABLE TO LESSOR PURSUANT TO THIS ARTICLE 19.3 WHEN A TOTAL LOSS OF THE AIRFRAME OCCURS EVEN IF THERE HAS NOT BEEN A TOTAL LOSS OF AN ENGINE, ENGINES OR THE APU. 

19.4 Surviving Engine(s). If a Total Loss of the Airframe occurs and there has not been a Total Loss of an Engine or Engines,
then, provided no Default or Event of Default has occurred and is continuing, at the request of LESSEE (subject to agreement of relevant insurers) and on receipt of all monies due under Article 19.3 and payment by LESSEE of all airport,
navigation and other charges on the Aircraft, LESSOR will transfer all its right, title and interest in the surviving Engine(s) to LESSEE, but without any responsibility, condition or warranty on the part of LESSOR other than as to freedom from any
LESSOR’s Lien. 
  

	19.5	Total Loss of Engine and not Airframe. 

  

	19.5.1	Upon a Total Loss of any Engine not installed on the Airframe or a Total Loss of an Engine installed on the Airframe not involving a Total Loss of the Airframe, LESSEE
will replace such Engine as soon as reasonably possible by duly conveying to LESSOR title to another engine from LESSEE (or another Person with a net worth at least equal to that of LESSEE) (i) free and clear of all Security Interests (except
Permitted Liens) of any kind or description, (ii) in airworthy condition and of the same or improved model, service bulletin and modification status and having a value and utility at least equal to the Engine which sustained the Total Loss,
(iii) not older (by reference to serial number or manufacture date) than the older of the two Engines delivered by LESSOR to LESSEE with the Aircraft on the Delivery Date, and (iv) in the same or better operating condition as the Engine
which sustained a Total Loss, including time in service, hours and cycles since new and hours and cycles available to the next inspection, Overhaul or scheduled or anticipated removal. Such replacement engine will be an “Engine” as defined
in this Lease and the Engine which sustained such Total Loss will cease to be an “Engine”. 

  

					
		  	65	  	ARTICLE 19
		  	LOSS, DAMAGE AND REQUISITION

	19.5.2	LESSEE agrees at its own expense to take such action as LESSOR may reasonably request in order that any such replacement Engine becomes the property of LESSOR and is
leased hereunder on the same terms as the destroyed Engine. LESSEE’s obligation to pay Rent will continue in full force and effect, but an amount equal to the Net Total Loss Proceeds received by LESSOR with respect to such destroyed Engine
will, subject to LESSOR’s right to deduct therefrom any amounts then due and payable by LESSEE under this Lease, be paid to LESSEE. 

  

	19.5.3	Notwithstanding Articles 19.5.1 and 19.5.2, if at the time of a Total Loss of an Engine not installed on the Aircraft or a Total Loss of an Engine installed on the
Airframe not involving a Total Loss of the Airframe, LESSOR and LESSEE are parties to a spare engine lease pursuant to which LESSOR is leasing a spare engine to LESSEE of the same model and type as the Engine which has suffered such Total Loss,
LESSOR will receive from LESSEE the replacement cost of the Engine instead of accepting a replacement engine. One (1) of such LESSOR spare engines will then be substituted under this Lease for the Engine which suffered such Total Loss and the
applicable spare engine lease will terminate. 

  

	19.6	Total Loss of APU. 

  

	19.6.1	Upon a Total Loss of the APU when not installed on the Airframe or a Total Loss of the APU while installed on the Airframe not involving a Total Loss of the Airframe,
LESSEE will replace such APU as soon as reasonably possible by duly conveying or causing to be conveyed to LESSOR title to another auxiliary power unit (i) free and clear of all Security Interests (except Permitted Liens) of any kind or
description, (ii) in airworthy condition and of the same or improved model, service bulletin and modification status and having a value and utility at least equal to the APU which sustained the Total Loss, (iii) not older (by reference to
serial number or manufacture date) than the APU delivered by LESSOR to LESSEE with the Aircraft on the Delivery Date and (iv) in the same or better operating condition as the APU which sustained the Total Loss, including time in service, hours
and cycles since new and hours and cycles available to the next inspection, Overhaul or scheduled or anticipated removal. Such replacement auxiliary power unit will be the “APU” as defined in this Lease and the auxiliary power unit which
sustained such Total Loss will cease to be the “APU”. 

  

	19.6.2	LESSEE agrees at its own expense to take such action as LESSOR may reasonably request in order that any such replacement APU becomes the property of LESSOR and is
leased hereunder on the same terms as the destroyed APU. LESSEE’s obligation to pay Rent will continue in full force and effect, but an amount equal to the Net Total Loss Proceeds received by LESSOR with respect to such destroyed APU will,
subject to LESSOR’s right to deduct therefrom any amounts then due and payable by LESSEE under this Lease, be paid to LESSEE. 

  

					
		  	66	  	ARTICLE 19
		  	LOSS, DAMAGE AND REQUISITION

	19.7	Other Loss or Damage. 

  

	19.7.1	If the Aircraft or any Part thereof suffers loss or damage not constituting a Total Loss of the Aircraft or the Airframe or any Engine or the APU, all the obligations
of LESSEE under this Lease (including payment of Rent) will continue in full force. 

  

	19.7.2	In the event of any loss or damage to the Aircraft or Airframe which does not constitute a Total Loss of the Aircraft or the Airframe, or any loss or damage to an
Engine or the APU which does not constitute a Total Loss of such Engine or the APU, LESSEE will at its sole cost and expense fully and with reasonable promptness repair the Aircraft, Engine or APU in order that the Aircraft, Engine or APU is placed
in an airworthy condition and substantially the same condition as it was prior to such loss or damage. All repairs will be performed in a manner which preserves and maintains all warranties and service life policies to the same extent as they
existed prior to such loss or damage. LESSEE will notify LESSOR forthwith of any loss theft or damage to the Aircraft for which the cost of repairs is estimated to exceed ***** together with LESSEE’s proposal and timetable for carrying out the
repair. In the event that LESSOR does not agree with LESSEE’s proposal for repair, LESSOR will so notify LESSEE within two (2) Business Days after its receipt of such proposal. LESSEE and LESSOR will then consult with Manufacturer and
LESSEE and LESSOR agree to accept as conclusive, and be bound by, Manufacturer’s directions or recommendations as to the manner in which to carry out such repairs. If Manufacturer declines to give directions or recommendations, LESSEE will
carry out the repairs in accordance with the directions of LESSOR. If the Aircraft is airworthy or the Engine or APU serviceable notwithstanding the loss or damage, LESSEE will repair such Aircraft, Engine or APU, as the case may be, within the time
frame reasonably established by LESSOR given the circumstances. 

 19.8 Copy of Insurance Policy. Promptly after the
occurrence of a partial loss or Total Loss of the Aircraft, an Engine or the APU, LESSEE will provide LESSOR with a copy of LESSEE’s insurance policy, provided, however, that LESSEE may redact from such copy the commercial terms of its
arrangement with the insurer. 
 19.9 Government Requisition. If the Aircraft, Airframe, any Engine or the APU is requisitioned
for use by any Government Entity, LESSEE will promptly notify LESSOR of such requisition. All of LESSEE’s obligations hereunder will continue as if such requisition had not occurred. So long as no Default or Event of Default has occurred and is
continuing, all payments received by LESSOR or LESSEE from such Government Entity will be paid over to or retained by LESSEE. If a Default or Event of Default has occurred and is continuing, all payments received by LESSEE or LESSOR from such
Government Entity may be used by LESSOR to satisfy any obligations owing by LESSEE. 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	67	  	ARTICLE 19
		  	LOSS, DAMAGE AND REQUISITION

	 	ARTICLE 20	REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSEE 

 20.1 Representations and Warranties. LESSEE represents and warrants the following to LESSOR as of the date of execution of this Lease and as of the Delivery Date: 

 

	20.1.1	Status. LESSEE is a company validly existing and in good standing under the Laws of Mexico. It has the power and authority to carry on its business as presently
conducted and to perform its obligations hereunder. 

  

	20.1.2	Governmental Approvals. No authorization, approval, consent, license or order of, or registration with, or the giving of notice to the Aviation Authority or any
other Government Entity is required for the valid authorization, execution, delivery and performance by LESSEE of this Lease, except as will have been duly effected as of the Delivery Date. 

 

	20.1.3	Binding. LESSEE’s Board of Directors has authorized LESSEE to enter into this Lease, any Side Letters hereto and any other documentation in connection with
the leasing of the Aircraft from LESSOR (collectively, the “Operative Documents”) and perform its obligations under the Operative Documents. This Lease and the other Operative Documents have been duly executed and delivered
by LESSEE and represent the valid and binding obligations of LESSEE, enforceable in accordance with their terms except as enforceability may be limited by bankruptcy, insolvency, reorganization or other Laws of general application affecting the
enforcement of creditors’ rights. When executed by LESSEE at Delivery, the same will apply to the Estoppel and Acceptance Certificate. 

  

	20.1.4	No Breach. The execution and delivery of the Operative Documents, the consummation by LESSEE of the transactions contemplated in this Lease and compliance by
LESSEE with the terms and provisions hereof do not and will not contravene any Law applicable to LESSEE, or result in any breach of or constitute any default under or result in the creation of any Security Interest upon any property of LESSEE,
pursuant to any indenture, mortgage, chattel mortgage, deed of trust, conditional sales contract, bank loan or credit agreement, charter, by-law or other agreement or instrument to which LESSEE is a party or by which LESSEE or its properties or
assets may be bound or affected. When executed by LESSEE at Delivery, the same will apply to the Estoppel and Acceptance Certificate. 

  

	20.1.5	Filings. Except for any filing or recording that may be required with the Aviation Authority, no filing or recording of any instrument or document (including the
filing of any financial statement) is necessary under the Laws of the State of Registration or of Mexico in order for this Lease to constitute a valid and perfected lease of record relating to the Aircraft. 

  

					
		  	68	  	ARTICLE 20
		  	REPRESENTATIONS, WARRANTIES AND
		  		  	COVENANTS OF LESSEE

	20.1.6	Translation or Notarization. None of the Lease or any other Operative Document needs to be translated, notarized, legalized, apostilled or consularized as a
condition to the legality, validity, filing, enforceability or admissibility in evidence thereof. 

  

	20.1.7	Licenses. LESSEE holds all licenses, certificates and permits from applicable Government Entities in Mexico and/or the United States for the conduct of its
business as a certificated air carrier and performance of its obligations under this Lease. 

  

	20.1.8	No Suits. There are no suits, arbitrations or other proceedings pending or to LESSEE’s knowledge threatened before any court or administrative agency
against or affecting LESSEE which, if adversely determined, would have a material adverse effect on LESSEE or its ability to perform under this Lease, except as described in the filings provided to LESSOR pursuant to Article 22.

  

	20.1.9	No Withholding. Under the Laws of Mexico, LESSEE will not be required to deduct any withholding or other Tax from any payment it may make under this Lease.

  

	20.1.10	No Restrictions on Payments. Under the Laws of Mexico, there are no present restrictions on LESSEE making the payments required by this Lease.

  

	20.1.11	General Obligations. The obligations of LESSEE under this Lease are direct, general and unconditional obligations of LESSEE and rank or will rank at least pari
passu with all other present and future unsecured and unsubordinated obligations (including contingent obligations) of LESSEE, with the exception of such obligations as are mandatorily preferred by Law. 

 

	20.1.12	No Sovereign Immunity. LESSEE, under the Laws of Mexico or of any other jurisdiction affecting LESSEE, is subject to private commercial law and suit. Neither
LESSEE nor its properties or assets is entitled to sovereign immunity under any such Laws. LESSEE’s performance of its obligations hereunder constitute commercial acts done for commercial purposes. 

 

	20.1.13	Tax Returns. All necessary returns have been delivered by LESSEE to all relevant taxation authorities in the jurisdiction of its formation and LESSEE is not in
default in the payment of any taxes due and payable. 

  

	20.1.14	No Material Adverse Effect. LESSEE is not in default under any agreement to which it is a party or by which it may be bound which would have a material adverse
effect on LESSEE’s ability to perform under this Lease. 

  

					
		  	69	  	ARTICLE 20
		  	REPRESENTATIONS, WARRANTIES AND
		  		  	COVENANTS OF LESSEE

	20.1.15	No Default or Event of Default under this Lease. At the time of execution of this Lease, no Default or Event of Default has occurred and is continuing and the
financial statements provided to LESSOR pursuant to Article 22 fairly present the financial condition of LESSEE. 

 20.2
Covenants. LESSEE covenants to LESSOR that it will comply with the following throughout the entire Lease Term: 
  

	20.2.1	Licensing. LESSEE will hold all required licenses, certificates and permits from applicable Government Entities in Mexico and/or the United States for the
conduct of its business as a certificated air carrier and performance of its obligations under this Lease. LESSEE will advise LESSOR promptly in the event any such licenses, certificates or permits are cancelled, terminated, revoked or not renewed.

  

	20.2.2	Payments. If at any time any such restrictions may be applicable, LESSEE will obtain all certificates, licenses, permits, exemptions and other authorizations
which are from time to time required for the making of the payments required by this Lease on the dates and in the amounts and currency which are stipulated in this Lease, and will maintain the same in fall force and effect for so long as the same
will be required. 

  

	20.2.3	Sovereign Immunity. LESSEE, under the Laws of Mexico or of any other jurisdiction affecting LESSEE, will continue to be subject to private commercial law and
suit. Neither LESSEE nor its properties or assets will be entitled to sovereign immunity under any such Laws. LESSEE’s performance of its obligations hereunder will constitute commercial acts done for commercial purposes. LESSEE will advise
LESSOR promptly of any change in the foregoing. 

  

	20.2.4	Information about Suits. LESSEE will promptly give to LESSOR a notice in writing of any suit, arbitration or proceeding before any court, administrative agency
or Government Entity which, if adversely determined, would materially adversely affect LESSEE’s ability to perform under this Lease. 

  

	20.2.5	Restrictions on Mergers. LESSEE will not consolidate with or merge into any other Person or sell, convey, lease, or otherwise transfer all or substantially all
of its assets (whether in one transaction or a series of transactions) to any Person (a “Reorganization Transaction”), unless: 

 (a) the Person formed by such consolidation or surviving such merger, or the Person who acquires by sale, conveyance, transfer, or lease all or substantially all of LESSEE’s assets (the
“Reorganized Entity”) has a net worth and financial capacity which are reasonably sufficient to meet (i) all obligations of LESSEE under the 

  

					
		  	70	  	ARTICLE 20
		  	REPRESENTATIONS, WARRANTIES AND
		  		  	COVENANTS OF LESSEE

 
Operative Documents, (ii) all obligations of LESSEE under all other agreements between LESSEE and LESSOR concerning the leasing or financing of aircraft or the extension, restructuring or
rescheduling of credit, and (iii) the other obligations of the Reorganized Entity on a going forward basis; 
 (b) the
Reorganized Entity (i) executes and delivers to LESSOR an agreement, in form and substance reasonably satisfactory to LESSOR, containing an assumption by the Reorganized Entity of the due and punctual performance and observance of all of
LESSEE’s obligations under the Operative Documents, and (ii) makes such filings and recordings, including any filing or recording with the FAA or any filing under the Uniform Commercial Code, as are necessary to evidence such
Reorganization Transaction and all filings necessary in order to preserve and protect the rights of LESSOR as owner of the Aircraft and lessor under this Lease; 
 (c) (i) such transaction shall not create a Default, (ii) no Event of Default shall exist immediately after such transaction, and (iii) the benefits of Section 1110 of the U.S. Bankruptcy
Code available to LESSOR immediately prior to such Reorganization Transaction shall not be adversely affected as a result of such Reorganization Transaction; 
 (d) the Reorganized Entity delivers to LESSOR: 
  

	 	(i)	a certificate, signed on its behalf by a responsible officer, stating that all the conditions precedent set forth in the foregoing clauses of this Article 20.2.5
have been fulfilled, and 

  

	 	(ii)	an opinion of counsel for LESSEE or for the Reorganized Entity, from counsel and in form and substance reasonably satisfactory to LESSOR, stating that [A] the
agreements entered into to effect the assumption agreement referenced in Article 20.2.5(b) have been duly authorized, executed, and delivered by the Reorganized Entity and that they (and the Operative Documents so assumed) constitute legal,
valid, and binding obligations of the Reorganized Entity, enforceable in accordance with their terms (to the same extent as the Operative Documents so assumed were enforceable against LESSEE immediately prior to such Reorganization Transaction), and
[B] containing such other matters as LESSOR reasonably requests. 

 Upon effecting any such
Reorganization Transaction, the Reorganized Entity shall succeed to all the obligations of LESSEE and shall succeed to, shall be substituted for, and may exercise every right and power of LESSEE under the Operative Documents, with the same effect as
if the Reorganized Entity had been named as LESSEE therein. No such Reorganization Transaction shall have the effect of 

  

					
		  	71	  	ARTICLE 20
		  	REPRESENTATIONS, WARRANTIES AND
		  		  	COVENANTS OF LESSEE

 
releasing LESSEE (or any Reorganized Entity) from any of its liabilities under the Operative Documents. LESSEE shall pay all reasonable out-of-pocket expenses of LESSOR (including but not limited
to its reasonable attorneys’ fees) in respect of such transfer. 
  

	20.2.6	Restriction on Relinquishment of Possession. LESSEE will not, without the prior consent of LESSOR, deliver, transfer or relinquish possession of the Aircraft
except in accordance with the provisions of this Lease, including Articles 11 and 12. 

  

	20.2.7	No Security Interests. LESSEE will not create or agree to or permit to arise any Security Interest (other than Permitted Liens) on or with respect to the
Aircraft, title thereto or any interest therein. LESSEE will forthwith, at its own expense, take all action as may be necessary to discharge or remove any such Security Interest if it exists at any time unless the same results from an act or
omission of LESSOR or LESSOR’s Lender. LESSEE will within twenty-four (24) hours after becoming aware of the existence of any such Security Interest give written notice thereof to LESSOR. 

 

	20.2.8	Representations to Other Parties. LESSEE will not represent or hold out LESSOR as carrying goods or passengers on the Aircraft or as being in any way connected
or associated with any operation of the Aircraft. 

  

					
		  	72	  	ARTICLE 20
		  	REPRESENTATIONS, WARRANTIES AND
		  		  	COVENANTS OF LESSEE

	 	ARTICLE 21	REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSOR 

 21.1 Representations and Warranties. LESSOR represents and warrants the following to LESSEE as of the date of execution of the Lease and as of the Delivery Date and ALL OTHER WARRANTIES,
EXPRESS OR IMPLIED HAVE BEEN WAIVED IN ACCORDANCE WITH ARTICLE 8: 
  

	21.1.1	Corporate Status. LESSOR is a corporation duly incorporated, validly existing and in good standing under the Laws of the State of California. It has the
corporate power and authority to carry on its business as presently conducted and to perform its obligations hereunder. 

  

	21.1.2	Governmental Approvals. No authorization, approval, consent, license or order of, or registration with, or the giving of notice to any U.S. Government Entity is
required for the valid authorization, execution, delivery and performance by LESSOR of this Lease. 

  

	21.1.3	Binding. This Lease and the other Operative Documents have been duly authorized, executed and delivered by LESSOR and represent the valid and binding obligations
of LESSOR, enforceable in accordance with their terms except as enforceability may be limited by bankruptcy, insolvency, reorganization or other Laws of general application affecting the enforcement of creditors’ rights.

  

	21.1.4	No Breach. The execution and delivery of the Operative Documents, the consummation by LESSOR of the transactions contemplated in this Lease and compliance by
LESSOR with the terms and provisions hereof do not and will not contravene any Law applicable to LESSOR, or result in any breach of or constitute any default under any indenture, mortgage, chattel mortgage, deed of trust, conditional sales contract,
bank loan or credit agreement, charter, by-law or other agreement or instrument to which LESSOR is a party or by which LESSOR or its properties or assets may be bound or affected. 

21.2 Covenant of Quiet Enjoyment. So long as no Default or Event of Default has occurred and is continuing hereunder, LESSOR covenants that
during the Lease Term neither LESSOR nor any Person lawfully claiming by or through LESSOR will interfere with or otherwise disturb LESSEE’s quiet, peaceful use, possession and enjoyment of the Aircraft in accordance with the terms of this
Lease. LESSOR further agrees that LESSOR will procure that any Person taking title to the Aircraft granted by LESSOR during the Lease Term shall provide to LESSEE a covenant of quiet enjoyment similar to that set forth in the immediately prior
sentence. 

  

					
		  	73	  	ARTICLE 21
		  	REPRESENTATIONS, WARRANTIES AND
		  		  	COVENANTS OF LESSOR

	 	ARTICLE 22	FINANCIAL AND OTHER INFORMATION 

LESSEE agrees to furnish each of the following to LESSOR: 
 (a) within forty-five (45) days after the end of each fiscal quarter of LESSEE, three (3) hard copies of the unaudited consolidated financial statements (including a balance sheet and profit and
loss statement) prepared for such quarter in accordance with generally accepted accounting principles in Mexico; 
 (b) within
ninety (90) days after the end of each fiscal year of LESSEE, three (3) hard copies of the audited consolidated financial statements (including a balance sheet and profit and loss statement) prepared as of the close of such fiscal year in
accordance with generally accepted accounting principles in Mexico; 
 (c) promptly after distribution, three (3) hard
copies of all reports and financial statements which LESSEE sends or makes available to its creditors and other aircraft lessors; and 
 (d) from time to time, such other reasonable information as LESSOR may reasonably request concerning the location, condition, use and operation of the Aircraft or the financial condition of LESSEE; and

 Notwithstanding the foregoing, if at any time LESSEE shall be required to file or otherwise furnish financial statements substantially
equivalent to those required to be furnished hereunder to any governmental agency of the state of Registration and such financial statements are available, at no unreasonable effort and no charge on the internet, the furnishing of the same by LESSEE
shall be deemed to satisfy the requirements of this Article. 

  

					
		  	74	  	ARTICLE 22
		  	FINANCIAL AND OTHER INFORMATION

	 	ARTICLE 23	RETURN OF AIRCRAFT 

 23.1
Date of Return. LESSEE is obligated to return the Aircraft, Engines, APU, Parts and Aircraft Documentation to LESSOR on the Expiration Date, unless a Total Loss of the Aircraft occurred prior to the Expiration Date and this Lease was
terminated early in accordance with Article 19.3. If an Event of Default occurs hereunder by LESSEE failing to return the Aircraft on the Expiration Date or if an Event of Default occurs prior to or after the Expiration Date and LESSOR
repossesses the Aircraft, the return requirements set forth in this Article 23 nonetheless must be met on the date the Aircraft is actually returned to LESSOR or repossessed by LESSOR. 
 23.2 Last Engine Shop Visits. With respect to the last Engine shop visit of an Engine prior to return of the Aircraft, LESSEE will submit to LESSOR at least thirty (30) days in advance
the intended workscope of such shop visit, unless the shop visit is unscheduled, in which case LESSEE will promptly notify LESSOR and the workscope will be submitted to Lessor as soon as it is available. If LESSOR requests, LESSEE will perform
additional work at such shop visit at LESSOR’s cost. 
 23.3 Technical Report. No later than six (6) months prior to the
Expiration Date (and in an updated form at return of the Aircraft), LESSEE will provide LESSOR with a Technical Evaluation Report in the form and substance of Exhibit O, as revised, and, in addition upon LESSOR’s request, will make copies
available of (i) drawings of the interior configuration of the Aircraft both as it presently exists and as it will exist at return, (ii) an Airworthiness Directive status list, (iii) a service bulletin incorporation list,
(iv) rotable tracked, hard-time and life-limited component listings, (v) a list of modifications, alterations and repairs, (vi) interior material burn certificates, (vii) the Maintenance Program, (viii) the complete
workscopes for the checks, inspections and other work to be performed prior to return, (ix) a forecast of the checks, inspections and other work to be performed within eighteen (18) months after return of the Aircraft, (x) a list of
all no-charge service bulletin kits with respect to the Aircraft which were ordered by LESSEE from Manufacturer or the Engine Manufacturer, (xi) current Engine disk sheets, (xii) last Engine shop visit reports, (xiii) takeoff and
cruise trend reports for the last nine (9) months and (xiv) any other data which is reasonably requested by LESSOR. 
 23.4
Return Location. LESSEE at its expense will return the Aircraft, Engines, APU, Parts and Aircraft Documentation to LESSOR at Aeromantenimiento. S.A. in El Salvador or another FAA-approved maintenance facility at a location mutually
agreed to by LESSEE and LESSOR. 
 23.5 Full Aircraft Documentation Review. For the period commencing at least one (1) month
prior to the proposed redelivery date and continuing until the date on which the Aircraft is returned to LESSOR in the condition required by this Lease, LESSEE will provide for the review of LESSOR and/or its representative all of the Aircraft
records and historical documents described in Exhibit N in one central room with access to telephone, photocopy, fax and internet connections at the Aircraft return location. 

  

					
		  	75	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

 23.6 Maintenance Policies and Procedures Manuals. At return of the Aircraft and at
LESSOR’s request for the purposes of bridging and demonstrating to the next operator and its aviation authority how the Aircraft has been maintained, LESSEE will provide LESSOR with access to its Maintenance Program, general maintenance manual,
general policies and procedures manual, maintenance exposition manual, general engineering manual, or their equivalents, and any other related controlled documentation which affects the Aircraft. Recognizing that LESSEE’s maintenance policies
and procedures manuals are proprietary to LESSEE, LESSOR agrees that no copies of the same will be made without the consent of LESSEE (not to be unreasonably withheld or delayed) and that the same will be only utilized as set forth in
Article 12.12 and this Article 23.6. 
  

	23.7	Aircraft Inspection. 

  

	23.7.1	During the maintenance checks performed prior to the proposed redelivery and at the actual return of the Aircraft, LESSOR and/or its representatives will have an
opportunity to observe functional and operational system checks, perform a visual inspection of the Aircraft (taking into account the Aircraft type, age, use and other known factors with respect to the Aircraft) and perform a full inspection of the
Aircraft Documentation (including records and manuals), all to LESSOR’s reasonable satisfaction. Any deficiencies from the Aircraft return condition requirements set forth in this Article 23 will be corrected by LESSEE at its cost prior to
return of the Aircraft. 

  

	23.7.2	Prior to the Aircraft acceptance flight described in Article 23.7.3, with LESSOR and/or LESSOR’s representatives present, LESSEE will conduct a systems
functional and operational inspection of the Aircraft in accordance with Manufacturer’s checklist procedures. 

  

	23.7.3	Immediately prior to redelivery of the Aircraft, LESSEE will carry out for LESSOR and/or LESSOR’s representatives an Aircraft acceptance flight in accordance with
Manufacturer’s standard flight operation check flight procedures or, if agreed to in writing by LESSOR, in accordance with an airline acceptance flight procedure, either of which will be for not less than two (2) hours and not more than
three (3) hours. Flight costs and fuel will be furnished by and at the expense of LESSEE. Any deficiencies from the Aircraft return condition requirements set forth in this Article 23 will be corrected by LESSEE at its cost prior to return
of the Aircraft. 

  

	23.7.4	To the extent that the ground inspection and acceptance flight extend beyond the Expiration Date, the Lease Term will be deemed to have been automatically extended and
the obligations of LESSEE hereunder (including Article 23.14.3) will continue on a day-to-day basis until the Aircraft is accepted by LESSOR executing the Return Acceptance Receipt in the form of Exhibit L. 

  

					
		  	76	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

	23.8	Certificate of Airworthiness Matters. 

  

	23.8.1	The Aircraft will possess a current Certificate of Airworthiness issued by the Aviation Authority (although this Certificate of Airworthiness may later be replaced by
an Export Certificate of Airworthiness or equivalent if requested by LESSOR pursuant to Article 23.12). In addition, even if LESSEE must perform engineering, maintenance and repair work on the Aircraft beyond the requirements of
Article 12, the Aircraft at return must be in the condition required in order to meet the requirements for issuance of a U.S. Standard Certificate of Airworthiness for transport category aircraft issued by the FAA in accordance with FAR
Part 21 and, in addition, to meet the operating requirements of FAR Part 121 (to the extent such requirement was met at Delivery) and FAR Part 129, with no restrictions imposed. 

 

	23.8.2	At LESSOR’s request, LESSEE at its cost will demonstrate that the Aircraft meets the requirements for issuance of the U.S. Standard Certificate of Airworthiness
for transport category aircraft specified in Article 23.8.1 by delivering to LESSOR at LESSOR’s option either an actual U.S. Standard Certificate of Airworthiness (if the Aircraft is to be registered in the U.S.) or a letter acceptable to
LESSOR signed by an FAA Designated Airworthiness Representative (DAR) or another Person acceptable to LESSOR stating that the DAR or such Person has inspected the Aircraft and Aircraft Documentation (including records and manuals) and has found that
the Aircraft meets the requirements for issuance of a U.S. Standard Certificate of Airworthiness for transport category aircraft in accordance with FAR Part 21 and, in addition, meets the operating requirements of FAR Part 121 (to the
extent such requirement was met at Delivery) and FAR Part 129, with no restrictions imposed. 

  

	23.8.3	If the Aircraft is to be registered in a country other than in the U.S. after return from LESSEE, LESSOR may in its sole discretion waive the requirements of
Article 23.8.2 and instead require that LESSEE at its expense (to the extent such expense is no greater than that which LESSEE would have incurred pursuant to Articles 23.8.1 and 23.8.2, with any additional expenses being for LESSOR’s
account) put the Aircraft in a condition to meet the requirements for issuance of a Certificate of Airworthiness of the aviation authority of the next country of register. 

 

	23.9	General Condition of Aircraft at Return. 

  

	23.9.1	The Aircraft, Engines, APU and Parts will have been maintained and repaired in accordance with the Maintenance Program, the rules and regulations of the Aviation
Authority and this Lease. 

  

					
		  	77	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

	23.9.2	If any Part installed on the Airframe, any Engine or the APU at return was not installed at Delivery, then such Part will have met the requirements of
Article 12.4.1 at the time of installation. 

  

	23.9.3	The requirements of Article 12.2.2 will have been met with respect to the installation of PMA Parts and OEM Parts in the Engines during the Lease Term. Without
limiting the foregoing, all stationary high energy Parts in the gaspath of the Engines will be OEM Parts. 

  

	23.9.4	Aircraft Documentation (including records and manuals) will have been maintained in English and in an up-to-date status, in accordance with the rules and regulations of
the Aviation Authority and the FAA and this Lease and in a form necessary in order to meet the requirements of Article 23.8.1. The records and historical documents set forth in Attachment 1 of Exhibit L will be in English. If LESSEE
subscribes to Manufacturer’s on-line data access services, LESSEE must nonetheless return the Aircraft manuals with all current revisions provided by Manufacturer in CD, microfilm or other format acceptable to LESSOR. 

 

	23.9.5	All hard-time, time-controlled, time-tracked and life-limited Parts which are installed on the Aircraft will have an FAA Form 8130-3 evidencing the airworthiness
of such Part at the most recent time of installation on the Aircraft. In the case of life-limited Parts, the documentation will also state the total hours and cycles since new. In the case of hard-time, time-controlled or time-tracked Parts, the
documentation will also state the time since last Overhaul or refurbishment, will have a reference to the relevant section of the Component Maintenance Manual under which the Part was Overhauled or refurbished, as applicable, and will identify
the FAA-approved repair agency or EASA-approved repair agency, as applicable, which performed the last Overhaul or refurbishment. 

  

	23.9.6	All Parts other than those referred to in Article 23.9.5 installed on the Aircraft will have FAA-acceptable documentation demonstrating that such Parts were
airworthy at the most recent time of installation on the Aircraft. 

  

	23.9.7	The Aircraft will be in the same working order and condition as at Delivery (subject to the other provisions of this Article 23, reasonable wear and tear from
normal flight operations excepted), with all pilot discrepancies and deferred maintenance items cleared on a terminating action basis. 

  

	23.9.8	The Aircraft will be airworthy (conform to type design and be in a condition for safe operation), with all Aircraft equipment, components and systems operating in
accordance with their intended use and within limits approved by Manufacturer, the Aviation Authority and FAA. 

  

					
		  	78	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

	23.9.9	The Aircraft interior (including cabin and windows) and exterior will be clean, with all compartments free of foreign objects. The Aircraft will be substantially free
of dirt, grease, fluids, stains, grime, cracks, tears and rips, consistent with worldwide commercial airline standards for used aircraft at completion of a heavy maintenance check. 

 

	23.9.10	No special or unique Manufacturer, Engine Manufacturer or Aviation Authority inspection or check requirements which are specific to the Aircraft or Engines (as opposed
to all aircraft or engines of their types) will exist with respect to the Airframe, Engines and Aircraft equipment, components and systems. 

  

	23.9.11	All repairs to the Aircraft will have been accomplished in accordance with Manufacturer’s Structural Repair Manual (or FAA-approved data supported by FAA
Form 8110-3 or 8100-9) for the Aircraft. 

  

	23.9.12	All major modifications will also be accomplished in accordance with FAA-approved data supported by a supplemental type certificate, FAA Form 8110-3 or 8100-9.

  

	23.9.13	The Aircraft will be returned with LESSOR’s Engines and APU installed and with the same equipment as at Delivery, subject only to those replacements, additions and
Modifications permitted under this Lease. To the extent LESSEE performed a Modification which cost in excess of ***** and LESSOR did not approve such Modification in accordance with Article 12.9.1, LESSOR may require LESSEE to return the
Aircraft in its original condition prior to such Modification. 

  

	23.9.14	All Airworthiness Directives which are issued prior to the date of return of the Aircraft and require compliance by means of terminating action prior to return of the
Aircraft to LESSOR or within 6 months after the Termination Date will have been complied with on the Aircraft on a terminating action basis at LESSEE’s cost. Airworthiness Directives which require compliance by means other than terminating
action prior to return of the Aircraft or 6 months after Return to LESSOR, will have been performed to the highest level of accomplishment possible other than terminating action. If, after using commercially reasonable efforts, LESSEE is unable to
acquire the material, parts or components necessary to accomplish such Airworthiness Directive, LESSEE will pay to LESSOR upon return of the Aircraft the estimated cost of terminating such Airworthiness Directive. If the estimated cost cannot be
mutually agreed upon by LESSEE and LESSOR, LESSEE and LESSOR will each obtain an estimate from a reputable FAA-approved maintenance facility (unaffiliated with LESSEE or LESSOR) and the estimated cost will be the average of the two estimates.

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	79	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

	23.9.15	All Modifications which must be performed prior to the date of return of the Aircraft or within 6 months after the Termination Date in order to meet the FAA
requirements for FAR Part 121 (to the extent such requirement was met at Delivery) and FAR Part 129 operations will have been incorporated on the Aircraft at LESSEE’s cost. 

 

	23.9.16	The Aircraft will be in compliance with Manufacturer’s Corrosion Prevention and Control Program (CPCP) specified for the model type by Manufacturer and LESSEE will
provide LESSOR with documentation substantiating such compliance. 

  

	23.9.17	If any waivers, deviations, dispensations, alternate means of compliance, extensions or carry-overs with respect to maintenance or operating requirements, repairs or
Airworthiness Directives are granted by the Aviation Authority or permitted by the Maintenance Program, LESSEE at its sole cost and expense will nonetheless perform such maintenance or operating requirements, repairs or Airworthiness Directives as
if such waivers, deviations, dispensations, alternate means of compliance, or extensions or carry-overs did not exist. 

  

	23.9.18	The Aircraft will be free from any Security Interest except LESSOR’s Liens and no circumstance will have so arisen whereby the Aircraft is or could become subject
to any Security Interest or right of detention or sale in favor of the Aviation Authority, any airport authority, Eurocontrol or any other authority or Government Entity. 

 

	23.9.19	All no-charge vendor and Manufacturer’s service bulletin kits received by LESSEE for the Aircraft but not installed thereon will be on board the Aircraft as cargo.
All no-charge vendor and Manufacturer’s service bulletin kits ordered by LESSEE but not yet received will, upon receipt by LESSEE and at LESSEE’s cost, be forwarded as instructed by LESSOR. At LESSOR’s request, any other service
bulletin kit which LESSEE ordered specifically for the Aircraft and paid for will also be delivered to LESSOR on board the Aircraft, but LESSOR will reimburse LESSEE for its actual out-of-pocket costs for such kit, unless LESSEE purchased such kit
as part of its implementation of a service bulletin on its fleet of aircraft of the same type as the Aircraft but had not yet installed such kit on the Aircraft, in which case such kit will be furnished free of charge to LESSOR.

  

	23.9.20	The Aircraft will be free of any leaks found to be outside of maintenance manual limits and any damage resulting therefrom. All repairs will have been performed on a
permanent basis in accordance with the applicable manufacturer’s instructions unless no such permanent repair is available. 

  

					
		  	80	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

	23.9.21	The Aircraft fluid reservoirs (including oil, oxygen, hydraulic and water) will be serviced to full and the waste tank serviced in accordance with Manufacturer’s
instructions. Fuel tanks will be at least as full as at Delivery. 

 23.10 Cheeks Prior to Return. Immediately prior
to return of the Aircraft to LESSOR, LESSEE at its expense will do each of the following: 
  

	23.10.1	LESSEE will have the Return Check performed by an FAA-approved repair facility. LESSEE also agrees to perform during the Return Check any other work reasonably
requested by LESSOR (and not otherwise required under this Lease) and LESSOR will reimburse LESSEE for performing such LESSOR-requested work based on LESSEE’s out-of-pocket and unburdened labor and material costs. In the event that LESSEE
exercises any extension option with respect to the Initial Lease Term, and the next consecutive check due on the Aircraft pursuant to the MPD (regardless of whether or not such check would have fallen during the Lease Term) is a “12Y”
check, then LESSEE will accomplish the “12Y” check (including all lesser checks) as described in the MPD. 

  

	23.10.2	LESSEE will perform an internal and external corrosion inspection and correct any discrepancies in accordance with the recommendations of Manufacturer and the
Structural Repair Manual. In addition, all inspected areas will be properly treated with corrosion inhibitor as recommended by Manufacturer. 

  

	23.10.3	LESSEE will remove LESSEE’s exterior markings, including all exterior paint, by stripping (or, at LESSOR’s option, pneumatically sanding) the paint from the
fuselage, empennage, wings and Engine cowlings, and clean, reseal, refinish, prepare (including application of alodine or another corrosion inhibitor) and prime the surfaces to be painted, all in accordance with Manufacturer’s and paint
manufacturer’s recommendations. LESSEE will then repaint the fuselage, empennage, wings and Engine cowlings in the colors and logo specified by LESSOR. Such painting will be accomplished in such a manner as to result in a uniformly smooth and
cosmetically acceptable aerodynamic surface. All external placards, signs and markings will be properly attached, free from damage, clean and legible. Notwithstanding the foregoing, in the event that the cost of painting the Aircraft in the logo and
colors specified by LESSOR exceeds the then-current cost of painting the Aircraft in the logo and colors in which it was painted at Delivery, then LESSOR will reimburse LESSEE for any such excess cost. After painting, the Aircraft will be weighed.

  

	23.10.4	LESSEE will clean the exterior and interior of the Aircraft. 

  

	23.10.5	If reasonably required by LESSOR, LESSEE will repaint by touch-up the interior of the Aircraft, including flight deck, and replace missing, broken or illegible
placards. 

  

					
		  	81	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

	23.10.6	In accordance with Article 23.9.11, LESSEE will permanently repair damage to the Aircraft that exceeds Manufacturer’s limits and replace any non-flush
structural patch repairs installed on the Aircraft with permanent flush-type repairs, in each case with no further inspection requirements unless a permanent flush-type repair is unavailable. 

 

	23.10.7	With LESSOR and/or its representatives present, LESSEE will perform a full and complete hot and cold section videotape borescope on each Engine and its modules in
accordance with Manufacturer’s aircraft maintenance manual. 

  

	23.10.8	If the Engine historical and technical records and/or condition trend monitoring data of any Engine indicate an acceleration in the rate of deterioration in the
performance of an Engine, LESSEE will correct, to LESSOR’s reasonable satisfaction, such conditions which are determined to be causing such accelerated rate of deterioration. 

 

	23.10.9	With LESSOR and/or its representatives present, LESSEE will accomplish a power assurance run on the Engines in accordance with Manufacturer’s aircraft maintenance
manual Task 71-00-00-710-013 Test No. 11 “High Power Assurance Test” (or any subsequent equivalent replacement thereof). LESSEE will record the Engine power assurance test conditions and results on the Return Acceptance Receipt.

  

	23.10.10	LESSEE will provide evidence to LESSOR’s reasonable satisfaction that the Engine historical and technical records, borescope inspection, trend monitoring and power
assurance run do not reveal any condition which would cause the Engines or any module to be unserviceable, beyond serviceable limits or serviceable with an increased frequency of inspection or with calendar time, flight hour or flight cycle
restrictions under the Manufacturer’s aircraft maintenance manual. LESSEE will correct any discrepancies in accordance with the guidelines set out by the Engine Manufacturer which may be discovered during such inspection.

  

	23.10.11	In the event the Engine historical and technical records, borescope inspection, trend monitoring and other checks specified in Article 23.10.9 result in a dispute
regarding the conformity of an Engine with the requirements of this Article 23, LESSEE and LESSOR will consult with the Engine Manufacturer and follow the Engine Manufacturer’s recommendations (including the accomplishment of an Engine
test cell operational check if so recommended) with regard to determining if such Engine complies with the requirements of this Article 23 and the manner in which any discrepancies from the requirements of this Article 23 will be
rectified. 

  

					
		  	82	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

	23.10.12	With LESSOR and/or its representatives present, LESSEE will perform an APU condition test in accordance with Manufacturer’s aircraft maintenance manual and a
complete hot and cold section videotape borescope on the APU. LESSEE will provide evidence to LESSOR’s reasonable satisfaction that the APU condition test and borescope inspection do not reveal any condition which would cause the APU to be
unserviceable, beyond serviceable limits or serviceable with an increased frequency of inspection or with calendar time, flight hour or flight cycle restrictions. LESSEE will correct any discrepancies in accordance with the guidelines set out by the
APU manufacturer which may be discovered during such test or inspections. If such APU is serviceable with an increased frequency of inspection or with calendar time, flight hour or flight cycle restrictions, LESSOR agrees to discuss with LESSEE in
good faith for a resolution that compensates LESSOR for such deficiency and avoid or minimize any delays in return of the Aircraft to LESSOR. 

  

	23.10.13	If the APU historical and technical records and/or condition trend monitoring data indicate an acceleration in the rate of deterioration in the performance of the APU,
LESSEE will correct, to LESSOR’s reasonable satisfaction, such conditions which are determined to be causing such accelerated rate of deterioration. 

  

	23.11	Part Lives. At return, the condition of the Aircraft will be as follows: 

 

	23.11.1	The Aircraft will have zero (0) hours consumed since the Return Check (excluding hours consumed on the acceptance flight). 

 

	23.11.2	Each Engine will meet all of the following: 

 (a) Each Engine will have at least 4,000 hours and 3,500 cycles remaining to operate until its next anticipated removal (based on a review of the Engine historical and technical records, borescope
inspection results, power assurance run results, trend monitoring data and the other checks specified in Articles 23.10.7, 23.10.8, 23.10.9 and 23.10.10). 
 (b) If any module of an Engine is returned with hours accumulated on such module since the last performance restoration of such module, LESSEE will pay LESSOR an amount equal to the hours accumulated on
such module times then-current Engine Manufacturer performance restoration rate for such module, based on Engine Manufacturer’s estimated mean time between performance restoration for such module. 

(c) Each Engine will have a remaining hot day takeoff EGT margin sufficient to permit the operation of such Engine for the hours and
cycles set forth in the preceding subparagraph (based on a review of the Engine historical and technical records, borescope inspection results, power assurance run results, trend monitoring data and the other checks specified in
Articles 23.10.7, 23.10.8, 23.10.9 and 23.10.10). 

  

					
		  	83	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

 (d) The Engine historical and technical records, borescope inspection, trend monitoring,
power assurance run and other checks specified in Articles 23.10.7, 23.10.8, 23.10.9 and 23.10.10 indicate that the Engine should operate for the hours and cycles set forth in Article 23.11.2(a). 

(e) Each Part of an Engine which has a life-limit will have at least 4,000 cycles remaining to operate until its next removal per the
Engine Manufacturer’s limit. 
 (f) No life-limited Part of an Engine will have more hours and cycles consumed than such
Engine’s data plate. 
  

	23.11.3	The APU will have not more than 2,000 APU hours consumed since the last APU manufacturer’s medium or heavy repair workscope. If the APU has life-limited
Parts, the cycles remaining on the most restricted life-limited Part will be a minimum of 3,000 APU cycles at return. 

 In addition, to the extent there are life-limited Parts in the APU, then, for each such life-limited Part, LESSEE will pay LESSOR an amount equal to the product of (a) the quotient obtained by
dividing 1. the cycles consumed on each such life-limited Part within the APU since new by 2. the total life of each such life-limited Part, multiplied by (b) the replacement cost of the applicable life-limited Part, all as determined by the
APU manufacturer’s then-current data. 
  

	23.11.4	Each leg of the Landing Gear will have at least 7 years remaining pursuant to the MPD until the next scheduled Overhaul. 

 

	23.11.5	Each Part of the Airframe, Engine or APU which has a hard time limit pursuant to the MPD will have the greater of (i) at least 50% of such hard time Part’s
full allotment of hours and cycles or (ii) 6,000 hours and 5,000 cycles remaining to operate until its next scheduled Overhaul or scheduled removal pursuant to the MPD. However, if such hard time Part’s full allotment of hours and
cycles between Overhauls pursuant to the MPD is less than 6,000 hours and 5,000 cycles, then such hard time Part will be returned with zero (0) hours and zero (0) cycles out of Overhaul. 

 

	23.11.6	Each life-limited Part of the Airframe or APU will have the greater of (i) at least 50% of such life-limited Part’s full allotment of hours and cycles or
(ii) 6,000 hours and 5,000 cycles remaining to operate until its next scheduled replacement pursuant to the MPD. However, if such life-limited Part’s full allotment of hours and cycles remaining to operate pursuant to the MPD is
less than 6,000 hours and 5,000 cycles, then such life-limited Part will be returned with 100% of its total approved hours and cycles remaining. 

  

					
		  	84	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

	23.11.7	No life-limited Part of the Airframe will have more hours and cycles consumed than the total hours and cycles of the Airframe. 

 

	23.11.8	No life-limited Part of the APU will have more hours and cycles consumed than the hours and cycles of the APU. 

 

	23.11.9	Each Part which has a calendar time limit will have 20 months remaining to operate until removal pursuant to the MPD. If a Part with a calendar time limit has a
total approved calendar time remaining pursuant to the MPD of less than 20 months, then such Part will be returned with 100% of its total approved calendar time remaining until removal. 

 

	23.11.10	No Part (excluding the life-limited Parts which are covered by Articles 23.11.2(e), 23.11.2(f), 23.11.6, 23.11.7 and 23.11.8) will have total hours or total
cycles since new greater than one hundred fifteen percent (115%) of that of the Airframe and, with respect to all such Parts as a group, such Parts will have an average total time since new no greater than that of the Airframe.

  

	23.11.11	Each Landing Gear tire and brake will have fifty percent (50%) of its total wear remaining to its next Overhaul. 

23.12 Export and Deregistration of Aircraft. At LESSOR’s request, LESSEE at its cost will (i) provide an Export Certificate of
Airworthiness or its equivalent from the State of Registration so that the Aircraft can be exported to the country designated by LESSOR, (ii) assist with deregistration of the Aircraft from the register of aircraft in the State of Registration,
(iii) assist with arranging for prompt confirmation of such deregistration to be sent by the registry in the State of Registration to the next country of registration and (iv) perform any other acts reasonably required by LESSOR in
connection with the foregoing. If any Aircraft work which LESSEE is not otherwise required to perform hereunder, including engineering, is required in order to obtain such Export Certificate of Airworthiness, LESSEE will perform such work and LESSOR
will reimburse LESSEE for such work at LESSEE’s out-of-pocket expenses. 
 23.13 Delay in Return of Aircraft Due to LESSOR Work
Requests. LESSEE will not be required to pay Rent to LESSOR for any whole days that return of the Aircraft to LESSOR is delayed solely as a result of LESSOR’s requests that additional work be performed over and above the work necessary
to place the Aircraft in the condition required by this Article 23, and in the event associated costs other than additional Rent are incurred, such as additional insurance, LESSOR shall reimburse reasonable costs associated therewith.

  

					
		  	85	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

 23.14 LESSEE’s Continuing Obligations. In the event that LESSEE does not return the
Aircraft to LESSOR on the Expiration Date and in the condition required by this Article 23 for any reason (whether or not the reason is within LESSEE’s control), but subject to Article 23.13: 

 

	23.14.1	the obligations of LESSEE under this Lease will continue in full force and effect on a day-to-day basis until such return. This will not be considered a waiver of
LESSEE’s Event of Default or any right of LESSOR hereunder. 

  

	23.14.2	Until such return, the Agreed Value will be an amount equal to the Agreed Value on the day the Aircraft should have been returned to LESSOR pursuant to this Lease.

  

	23.14.3	Without limiting LESSOR’s rights and remedies under Article 25 and except for a delay in return of the Aircraft for the reason set forth in
Article 23.13, until such time as the Aircraft is redelivered to LESSOR and put into the condition required by this Article 23, instead of paying the Rent specified in Article 5.3, LESSEE will pay twice the amount of Rent in effect on
the Expiration Date for each day from the scheduled Expiration Date until the Termination Date. In determining the applicable normal Rent per day that will be doubled for purposes of this calculation, the monthly Rent payable under
Article 5.3.1 will be prorated based on the actual number of days in the applicable month. Payment will be made upon presentation of LESSOR’s invoice. 

 

	23.14.4	LESSOR may elect, in its sole and absolute discretion, to accept the return of the Aircraft prior to the Aircraft being put in the condition required by this
Article 23 and thereafter have any such non-conformance corrected at such time as LESSOR may deem appropriate (but within ninety (90) days following the return of the Aircraft) and at commercial rates then-charged by the Person selected by
LESSOR to perform such correction. Any direct expenses incurred by LESSOR for such correction will be payable by LESSEE within fifteen (15) days following the submission of a written statement by LESSOR to LESSEE, identifying the items
corrected and setting forth the expense of such corrections. LESSEE’s obligation to pay such amounts will survive the Termination Date. 

 23.15 Airport and Navigation Charges. LESSEE will ensure that at return of the Aircraft any and all airport, navigation and other charges which give rise or may if unpaid give rise to any
lien, right of detention, right of sale or other Security Interest in relation to the Aircraft, Engine, APU or any Part have been paid and discharged in full and will at LESSOR’s request produce evidence thereof satisfactory to LESSOR, except
to the extent being contested in good faith provided LESSEE shall have agreed in writing to pay any such charges determined pursuant to such contest to be due and owing to the relevant authorities, and provided that there is no likelihood of the
placement of any Security Interest on or seizure of the Aircraft, Engine, APU or any Part. 

  

					
		  	86	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

 23.16 Return Acceptance Receipt. Upon return of the Aircraft in accordance with the terms of
this Lease, LESSEE will prepare and execute two (2) Return Acceptance Receipts in the form and substance of Exhibit L and LESSOR will countersign and return one such Return Acceptance Receipt to LESSEE. In addition, LESSEE and LESSOR will
execute a Lease Termination for filing with the FAA evidencing termination of this Lease. 
 23.17 Indemnities and Insurance. The
indemnities and insurance requirements set forth in Articles 17 and 18, respectively, will apply to Indemnitees and LESSOR’s representatives during return of the Aircraft, including the ground inspection and acceptance flight. With respect
to the acceptance flight, LESSOR’s representatives will receive the same protections as LESSOR on LESSEE’s Aviation and Airline General Third Party Liability Insurance. 
 23.18 Storage. At LESSOR’s request, LESSEE will continue to lease the Aircraft under this Lease for a period not to exceed thirty (30) days. During this period, LESSEE will have no
obligations under this Lease except, at LESSOR’s cost, to park and store the Aircraft in accordance with Manufacturer’s recommended short term storage program at one of LESSEE’s principal maintenance facilities in Mexico and to
maintain all insurance on the Aircraft. LESSEE will not utilize the Aircraft for any reason during this period. 

  

					
		  	87	  	ARTICLE 23
		  		  	RETURN OF AIRCRAFT

	 	ARTICLE 24	ASSIGNMENT 

 24.1 No
Assignment by LESSEE. NO ASSIGNMENT, NOVATION, TRANSFER, MORTGAGE OR OTHER CHARGE MAY BE MADE BY LESSEE OF ANY OF ITS RIGHTS OR OBLIGATIONS WITH RESPECT TO THE AIRCRAFT, ANY ENGINE OR PART, OR THIS LEASE. 

 

	24.2	Sale or Assignment by LESSOR. 

  

	24.2.1	Subject to LESSEE’s rights pursuant to this Lease, LESSOR may at any time and without LESSEE’s consent sell, assign or transfer its rights, interest and
obligations hereunder or with respect to the Aircraft (a “Transfer”) to a third party (“LESSOR’s Assignee”). 

 Notwithstanding the foregoing, no Transfer shall: (i) be made to an entity which is not solvent at the time of and immediately after giving effect to such Transfer; (ii) be made to an air
carrier or subsidiary of an air carrier that conducts substantial business in Mexico and is in direct competition with LESSEE; (iii) result in any increase in or to or the imposition of additional obligations or liabilities on the part of
LESSEE that are not de minimis, (iv) restrict or diminish LESSEE’s rights in and to the Aircraft pursuant to this Lease; (v) be made to a Person having a net worth of less than ***** at the time of such Transfer; (vi) be made
unless and until the purchaser, assignee or transferee shall have (a) provided LESSEE with a covenant of quiet use and enjoyment equivalent to that required under this Lease and (b) agreed in writing, in favor of LESSEE that (1) in
the case of a Transfer not constituting solely a Transfer by way of security, it shall be bound by and from and after the date of transfer perform all obligations of “LESSOR” under this Lease and (2) in the case of any Transfer, that,
to the extent it holds any moneys under the Lease, it shall hold, apply, invest, disburse, reimburse and return such moneys in accordance with the applicable provisions of the LEASE. 

 

	24.2.2	The term “LESSOR” as used in this Lease means the lessor of the Aircraft at the time in question. In the event of the sale of the Aircraft and
transfer of LESSOR’s rights and obligations under this Lease, LESSOR’s Assignee will become “LESSOR” of the Aircraft under this Lease and the transferring party (the prior “LESSOR”) will be relieved of all liability to
LESSEE under this Lease for obligations arising on and after the date the Aircraft is sold. LESSEE will acknowledge and accept LESSOR’s Assignee as the new “LESSOR” under this Lease and will look solely to LESSOR’s Assignee for
the performance of all LESSOR obligations and covenants under this Lease arising on and after the Aircraft sale date. 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	88	  	ARTICLE 24
		  		  	ASSIGNMENT

 24.3 LESSOR’s Lender. Subject to LESSEE’s rights pursuant to this Lease, LESSOR may
at any time and without LESSEE’s consent grant security interests over the Aircraft and assign the benefit of this Lease to a lender (“LESSOR’s Lender”) as security for LESSOR’s obligations to LESSOR’s
Lender. Accordingly, if LESSOR’s Lender requires, as a condition to providing financing, any nonsubstantive modification of this Lease, LESSEE agrees to enter into an agreement so modifying this Lease. 

24.4 LESSEE Cooperation. Subject to LESSEE’s rights under this Lease otherwise, on request by LESSOR, LESSOR’s Assignee or
LESSOR’s Lender, LESSEE will execute all such documents (such as a lease assignment agreement) as LESSOR, LESSOR’s Assignee or LESSOR’s Lender may reasonably require to acknowledge LESSEE’s obligations under this Lease and obtain
LESSEE’s acknowledgment that LESSOR is not in breach of the Lease. LESSEE will provide all other reasonable assistance and cooperation to LESSOR, LESSOR’s Assignee and LESSOR’s Lender in connection with any such sale or assignment or
the perfection and maintenance of any such security interest, including, at LESSOR’s sole cost and expense, making all necessary filings and registrations in the State of Registration and providing, at LESSOR’s sole cost and expense, all
opinions of counsel with respect to matters reasonably requested by LESSOR, LESSOR’s Lender or LESSOR’s Assignee. LESSOR will pay or reimburse LESSEE for its reasonable out-of-pocket costs and expenses (including reasonable legal fees and
expenses) in reviewing documents required by LESSOR, LESSOR’s Assignee or LESSOR’s Lender or performing any other obligations under this Article 24. 
 24.5 Advance Consent Under Cape Town Convention. For the purpose of Article 33(1) of the Convention and Article XV of the Protocol (combined for ease of reference in
Article 46(1) of the Consolidated Text), LESSEE hereby consents in advance to the transfer of the associated rights and related international interests in respect of any assignment or sale by LESSOR or the granting of any Security Interest by
LESSOR in accordance with Articles 24.2 or 24.3. For the avoidance of doubt, no additional consent by LESSEE will be required in connection with any such assignment of associated rights and the related international interests pursuant to the
Cape Town Convention. Any filings made on the International Registry pursuant to the Cape Town Convention in connection herewith, shall be made at LESSOR’s sole cost and expense. 

 

	24.6	Protections. 

  

	24.6.1	LESSOR will obtain for the benefit of LESSEE an acknowledgment from any LESSOR’s Assignee or LESSOR’s Lender that, so long as no Default or Event of Default
has occurred and is continuing hereunder, neither such Person nor any other Person lawfully claiming by or through such Person will interfere with or otherwise disturb LESSEE’s quiet, peaceful use and enjoyment of the Aircraft.

  

	24.6.2	 If a financing for the Aircraft is in place at Delivery or LESSOR finances the Aircraft after Delivery, then the term “LESSOR” in the
provisions of this Lease 

  

					
		  	89	  	ARTICLE 24
		  		  	ASSIGNMENT

	 	
relating to disclaimer, title and registration, indemnity and insurance contained in Articles 8, 14, 17 and 18, respectively, or with respect to Article 20.2.8, will be deemed in
addition to LESSOR to include LESSOR’s Assignee, LESSOR’s Lender and associated parties, if applicable. Also, if the Aircraft was previously financed but such financing was no longer in place at the time of Delivery of the Aircraft to
LESSEE, the term “LESSOR” in the provisions of this Lease described in this Article 24.6.2 will be deemed to include the former lender and associated parties. 

 

	24.6.3	If LESSOR sells the Aircraft after Delivery, subject to conformity of such sale with the provisions of this Article 24, then the disclaimer and indemnity
provisions contained in Articles 8 and 17 will continue to be applicable after the sale to International Lease Finance Corporation and, if applicable, the parties referred to in Article 24.6.2. For a period of two (2) years after such
sale or assignment and at LESSEE’s cost, LESSEE will continue to name LESSOR and the parties referred to in Article 24.6.2, if applicable, as additional insureds under the Aviation and Airline General Third Party Liability Insurance
specified in Exhibit C. 

  

					
		  	90	  	ARTICLE 24
		  		  	ASSIGNMENT

	 	ARTICLE 25	DEFAULT OF LESSEE 

 25.1
LESSEE Notice to LESSOR. LESSEE will promptly notify LESSOR if LESSEE becomes aware of the occurrence of any Default or Event of Default. 
 25.2 Events of Default. The occurrence of any of the following will constitute an Event of Default and material breach of this Lease by LESSEE: 

(a) LESSEE fails to take delivery of the Aircraft when properly tendered and otherwise obligated to do so under the terms of this Lease;

 (b) LESSEE fails to make a Rent or other payment due hereunder in the manner and by the date provided in this Lease and fails
to make such payment within three (3) Business Days after such payment is due (following any applicable grace period otherwise provided under this Lease); 
 (c) LESSEE fails to obtain or maintain the insurance required by Article 18; 

(d) LESSEE fails to return the Aircraft to LESSOR on the Expiration Date in accordance with Article 23; 

(e) LESSEE fails to observe or perform any of its other obligations hereunder and fails to cure the same within fifteen (15) days
after receipt of written notice thereof to LESSEE. If such failure cannot by its nature be cured within fifteen (15) days, LESSEE will have the reasonable number of days necessary to cure such failure (not to exceed a period of sixty (60)
days) so long as it uses diligent and best efforts to do so; 
 (f) any representation or warranty of LESSEE in this Lease proves
to be untrue in any material respect when made and, if available, LESSEE has not cured the same within thirty (30) days unless there can be no reasonable expectation that the same can be cured within such period; 

(g) the registration of the Aircraft is cancelled other than as a result of an act or omission of or attributable to LESSOR; 

(h) LESSEE abandons the Aircraft or Engines; 
 (i) LESSEE or an approved sublessee no longer has unencumbered control (other than Permitted Liens) or possession of the Aircraft or Engines, except as otherwise permitted by this Lease; 

  

					
		  	91	  	ARTICLE 25
		  		  	DEFAULT OF LESSEE

 (j) LESSEE discontinues (temporarily or otherwise) business or sells or otherwise disposes
of all or substantially all of its assets; 
 (k) a material adverse change occurs in the financial condition of LESSEE which, in
LESSOR’s reasonable opinion, would materially and adversely affect LESSEE’s ability to perform its obligations under the Operative Documents; 
 (l) LESSEE no longer possesses the licenses, certificates and permits required for the conduct of its business as a certificated air carrier in Mexico; provided, however, that if LESSEE is undertaking its
best efforts to reinstate the effectiveness of such license, certificate or permit with a reasonable likelihood of success, and so long as such situation poses no likelihood of seizure or impairment of, or the imposition of a Security Interest on,
the Aircraft or any other property of LESSOR, LESSEE shall have thirty (30) days to cure such deficiency; 
 (m) LESSEE
fails to pay when due (after giving effect to any applicable grace or similar period available) any airport or navigation charges (including Eurocontrol charges) or any landing fees assessed with respect to the Aircraft or any aircraft operated by
LESSEE which, if unpaid, may give rise to any lien, right of detention, right of sale or other Security Interest in relation to the Aircraft, Engine, APU or any Part; 
 (n) LESSEE 1. suspends payment on its debts or other obligations, 2. is unable to or admits its inability to pay its debts or other obligations as they fall due, 3. is adjudicated or becomes bankrupt or
insolvent or 4. proposes or enters into any composition or other arrangement for the benefit of its creditors generally; 
 (o)
any proceedings, resolutions, filings or other steps are instituted or threatened with respect to LESSEE relating to the bankruptcy, liquidation, reorganization or protection from creditors of LESSEE or a substantial part of LESSEE’s property.
If instituted by LESSEE, the same will be an immediate Event of Default. If instituted by another Person, the same will be an Event of Default if not dismissed, remedied, stayed or relinquished within sixty (60) days; 

(p) any order, judgment or decree is entered by any court of competent jurisdiction appointing a receiver, trustee or liquidator of LESSEE
or a substantial part of its property, or if a substantial part of LESSEE’s property is to be sequestered. If instituted by or done with the consent of LESSEE, the same will be an immediate Event of Default. If instituted by another Person, the
same will be an Event of Default if not dismissed, remedied, stayed or relinquished within sixty (60) days; 

  

					
		  	92	  	ARTICLE 25
		  		  	DEFAULT OF LESSEE

 (q) (i) any indebtedness for borrowed moneys or a guarantee or similar obligation owed by
LESSEE with an unpaid balance of at least ***** is declared due before its stated maturity or (ii) LESSEE is in default under any other purchase agreement, lease, conditional sale agreement or other agreement pursuant to which LESSEE has
possession of any aircraft, if such situation presents a likelihood of seizure or impairment of, or the imposition of a Security Interest on, the Aircraft or any other property of LESSOR, or a likelihood in LESSOR’s reasonable judgment that
such situation will impair LESSOR’s compliance with the terms of this Lease; 
 (r) LESSEE is in default under any other
lease or agreement between LESSEE and LESSOR or a direct or indirect subsidiary of LESSOR and the same is not cured within its specified cure period; or 
 (s) LESSEE is in default under any other aircraft or aircraft equipment lease agreement which is managed by LESSOR on behalf of another Person and the same is not cured within its specified cure period.

 25.3 LESSOR’s General Rights. Upon the occurrence of any Event of Default, LESSOR may do all or any of the following at
its option (in addition to such other rights and remedies which LESSOR may have by statute or otherwise but subject to any requirements of applicable Law): 
 (a) terminate this Lease by giving written notice to LESSEE; 
 (b) terminate the
rights of LESSEE to use or operate the Aircraft by giving written notice to LESSEE, in which case LESSEE’s obligations under this Lease will continue (including the obligations set forth in Articles 17 and 18); 

(c) require that LESSEE immediately cease flying the Aircraft and leave it parked in its then-current location by giving written notice to
LESSEE, in which case LESSEE’s obligations under this Lease will continue (including the obligations set forth in Articles 17 and 18); 
 (d) require that LESSEE immediately move the Aircraft to an airport or other location designated by LESSOR and park the Aircraft there by giving written notice to LESSEE, in which case LESSEE’s
obligations under this Lease will continue (including the obligations set forth in Articles 17 and 18); 
 (e) take
possession of the Aircraft. If LESSOR takes possession of the Aircraft, it may enter upon LESSEE’s premises where the Aircraft is located without liability. Upon repossession of the Aircraft, LESSOR will then be entitled to sell, lease or
otherwise deal with the Aircraft as if this Lease had never been made. LESSOR will be entitled to the full benefit of its bargain with LESSEE; 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	93	  	ARTICLE 25
		  		  	DEFAULT OF LESSEE

 (f) instruct any maintenance or repair facility which is in possession of the Aircraft, any
Engine, the APU or any Part as to its disposition or release; 
 (g) for LESSEE’S account, do anything that may reasonably
be required to cure any default and recover from LESSEE all reasonable costs, including legal fees and expenses incurred in doing so and Default Interest; 
 (h) proceed as appropriate to enforce performance of this Lease and to recover any damages for the breach hereof, including the amounts specified in Article 25.6; or 

(i) apply all or any portion of the Security Deposit and any other security deposits held by LESSOR pursuant to any other agreements
between LESSOR and LESSEE to any amounts due. 
 25.4 Deregistration and Export of Aircraft. If an Event of Default has occurred
and is continuing, LESSOR may take all steps necessary to deregister the Aircraft in and export the Aircraft from the State of Registration. 

25.5 Cape Town Convention Remedies. If the Cape Town Convention has been or is ratified or made applicable in the United States or Mexico,
then LESSEE and LESSOR acknowledge and agree that: 
 (a) each of the Events of Default set forth in Article 25.2 will be
deemed to be an event that constitutes a “default” as such term is used in the Cape Town Convention; and 
 (b) upon
the occurrence of any Event of Default 1. LESSOR will be afforded all speedy and other relief, rights and (without duplication of recovery) remedies specified in the Cape Town Convention as a result of such Event of Default, 2. all of the rights of
LESSOR specified in Article 25.3 will be construed to be “additional remedies” as permitted by the Cape Town Convention which may be exercised by LESSOR pursuant to this Lease subject to the requirements of applicable Law and 3.
LESSOR may, without notice to LESSEE, take all steps as are contemplated by the Cape Town Convention to deregister the Aircraft, export the Aircraft from the State of Registration and, if applicable, discharge the international interest in respect
of the Aircraft, this Lease and the other Operative Documents from the International Registry. 

  

					
		  	94	  	ARTICLE 25
		  		  	DEFAULT OF LESSEE

 25.6 LESSEE Liability for Damages. If an Event of Default occurs, in addition to all other
remedies available at law or in equity, LESSOR has the right to recover from LESSEE and LESSEE will pay LESSOR within two (2) Business Days after LESSOR’s written demand, all of the following: 

(a) any losses suffered by LESSOR as a result of a delay in Delivery of the Aircraft to LESSEE, including payments to Manufacturer such as
additional purchase price escalation and Aircraft parking, maintenance costs and insurance costs during the period of delay; 

(b) without duplication, all amounts which are then due and unpaid hereunder and which become due prior to the earlier of LESSOR’s
recovery of possession of the Aircraft or LESSEE making an effective tender thereof; 
 (c) without duplication, any losses
suffered by LESSOR because of LESSOR’s inability to place the Aircraft on lease with another lessee or to otherwise utilize the Aircraft on financial terms as favorable to LESSOR as the terms hereof for the Lease Term or, if LESSOR elects to
dispose of the Aircraft, the funds arising from a sale or other disposition of the Aircraft are not as profitable to LESSOR as leasing the Aircraft in accordance with the terms hereof would have been (and LESSOR will be entitled to accelerate any
and all Rent which would have been due from the date of LESSOR’s recovery or repossession of the Aircraft through the Expiration Date); 
 (d) without duplication, all costs associated with LESSOR’s exercise of its remedies hereunder, including repossession costs, legal fees, Aircraft storage costs, Aircraft re-lease or sale costs and
LESSOR’s internal costs and expenses (including the cost of personnel time calculated based upon the compensation paid to the individuals involved on an annual basis and a general LESSOR overhead allocation); 

(e) without duplication, any amount of principal, interest, fees or other sums paid or payable on account of funds borrowed in order to
carry any unpaid amount resulting from the occurrence of an Event of Default; 
 (f) without duplication, any loss, premium,
penalty or expense which may be incurred in repaying funds raised to finance the Aircraft or in unwinding any financial instrument relating in whole or in part to LESSOR’s financing of the Aircraft; 

(g) without duplication, any loss, cost, expense or liability sustained by LESSOR due to LESSEE’s failure to redeliver the Aircraft
in the condition required by this Lease; and 
 (h) without duplication, any other loss, damage, expense, cost or liability which
LESSOR suffers or incurs as a result of the Event of Default and/or termination of this Lease. 

  

					
		  	95	  	ARTICLE 25
		  		  	DEFAULT OF LESSEE

 Notwithstanding the foregoing, LESSOR shall use reasonable efforts to mitigate any such
losses. 
 25.7 Waiver of Default. By written notice to LESSEE, LESSOR may at its election waive any Default or Event of Default
and its consequences and rescind and annul any prior notice of termination of this Lease. The respective rights of the parties will then be as they would have been had no Default or Event of Default occurred and no such notice been given.

 25.8 Present Value of Payments. In calculating LESSOR’s damages hereunder, upon an Event of Default all Rent and other
amounts which would have been due hereunder during the Lease Term if an Event of Default had not occurred will be calculated on a present value basis using a discounting rate of ***** per annum discounted to the earlier of the date on which LESSOR
obtains possession of the Aircraft or LESSEE makes an effective tender thereof. 
 25.9 Use of “Termination Date”. For
avoidance of doubt, it is agreed that if this Lease terminates and the Aircraft is repossessed by LESSOR due to an Event of Default, then, notwithstanding the use of the term “Termination Date” in this Lease, the period of the Lease Term
and the “Expiration Date” will be utilized in calculating the damages to which LESSOR is entitled pursuant to Article 25.6. For example, it is agreed and understood that LESSOR is entitled to receive from LESSEE the Rent and the
benefit of LESSEE’s insurance and maintenance of the Aircraft until expiration of the Lease Term. 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	96	  	ARTICLE 25
		  		  	DEFAULT OF LESSEE

	 	ARTICLE 26	NOTICES 

 26.1 Manner of
Sending Notices. Any notice, request or information required or permissible under this Lease will be in writing and in English. Notices will be delivered in person or sent by fax, e-mail, letter (mailed airmail, certified and return receipt
requested), or by expedited delivery addressed to the parties as set forth in Article 26.2. In the case of a fax, notice will be deemed received on the date set forth on the confirmation of receipt produced by the sender’s fax machine
immediately after the fax is sent. In the case of e-mail, notice will be deemed received upon actual receipt. In the case of a mailed letter, notice will be deemed received upon actual receipt. In the case of a notice sent by expedited delivery,
notice will be deemed received on the date of delivery set forth in the records of the Person which accomplished the delivery. If any notice is sent by more than one of the above listed methods, notice will be deemed received on the earliest
possible date in accordance with the above provisions. 
 26.2 Notice Information. Notices will be sent: 

 

					
	If to LESSOR:	  	 INTERNATIONAL LEASE FINANCE CORPORATION
 10250 Constellation Boulevard, 34th Floor
 Los Angeles, California 90067, U.S.A.

Attention: Legal Department

			
		  	Fax:	  	310-788-1990
		  	Telephone:	  	310-788-1999
		  	E-mail:	  	legalnotices@ilfc.com
		
	If to LESSEE:	  	 CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
 Prolongación Paseo de la Reforma #490
 Piso 1 (Edificio GE)

		  	 Col. Santa Fe Peña Blanca
 Del. Álvaro Obregón
 01012 México, D.F.

		  	 México

Attention: Finance Director

			
		  	 Fax:

Telephone:
	  	 +503-298-3064

+503-298-1560

		  	E-mail:	  	fernando.suarez@volaris.com.mx

 or to such other places and numbers as either party directs in writing to the other party. 

  

					
		  	97	  	ARTICLE 26
		  		  	NOTICES

	 	ARTICLE 27	ARBITRATION 

 27.1
Arbitration of Any Dispute. Subject to the terms of Article 27.9, any dispute, controversy or claim arising out of or relating to this Lease, or the breach, termination or invalidity thereof, will be settled solely by arbitration.

 27.2 Notice of Arbitration. Any notice with respect to arbitration, including a notice by LESSEE or LESSOR of arbitration
commencing arbitral proceedings will be delivered to the other party as set forth in Article 26. 
 27.3 Rules for
Arbitration. The arbitration shall be in accordance with the Rules of Arbitration (as in effect on the date of this Lease) of the International Chamber of Commerce (“ICC”), except that in the event of any conflict
between such ICC Rules and the arbitration provisions of this Lease, the provisions of this Lease shall govern. 
 27.4 Number of
Arbitrators. The number of arbitrators shall be three. 
 27.5 Appointment of Arbitrator by Each Party. Each party shall
appoint one arbitrator within five (5) Business Days of receipt of the notice provided under Article 27.2. If within five (5) Business Days after receipt of the claimant’s notification of the appointment of an arbitrator the
respondent has not notified the claimant in writing of the name of the arbitrator appointed by the respondent, the second arbitrator shall be appointed by the ICC acting in accordance with the rules adopted by the ICC for this purpose. 

27.6 Appointment of Lead Arbitrator. The two arbitrators thus appointed shall choose the third arbitrator who will act as the presiding
arbitrator of the tribunal. If within five (5) Business Days after the appointment of the second arbitrator, the two arbitrators have not agreed upon the choice of the presiding arbitrator, then at the request of either party the presiding
arbitrator will be appointed by the ICC in accordance with the rules adopted by the ICC for such purpose (provided that such presiding arbitrator will be a national of a country other than Mexico or the U.S.). 

27.7 Location of Arbitration. The arbitration, including the making of the award, will take place in Los Angeles, California. 

27.8 Language for Arbitration. The arbitration will be conducted in English. 
 27.9 Interim Measures of Protection. At the request of LESSOR, the arbitral tribunal may order or take any interim measures it deems necessary in respect of the Aircraft, including measures
for the conservation of the Aircraft such as return of the Aircraft to the custody and control of LESSOR or the parking of the Aircraft. Such interim measures may be established in the form of an interim award. The arbitral tribunal will be entitled
to require security for the costs of such measures. A request by LESSOR to a judicial authority in any jurisdiction for the repossession or parking of the Aircraft will not be deemed incompatible with or a waiver of LESSOR’s agreement to
arbitrate set forth in this Lease. 

  

					
		  	98	  	ARTICLE 27
		  		  	ARBITRATION

 27.10 Substantive Law. The substantive Laws of the State of California will be applied by the
arbitrators in any arbitration. 
 27.11 Decision. The arbitration award will be based on and accompanied by a written
opinion containing findings of fact and conclusions of law. 
 27.12 Prevailing Party in Dispute. In any arbitration in connection
with or arising out of any provisions in this Lease, the prevailing party will be entitled to recover reasonable attorneys’ fees and other costs incurred in such arbitration. The prevailing party will also, to the extent permissible by Law, be
entitled to receive pre- and postjudgment Default Interest. 
 27.13 Waiver. LESSEE and LESSOR agree that the arbitral award will
be final and binding upon them. Each of LESSEE and LESSOR agree that the arbitral award may be enforced against the parties to the arbitration proceeding or their assets wherever they may be found and that a judgment on the arbitration award may be
entered in any court having jurisdiction over the parties or their assets. 

  

					
		  	99	  	ARTICLE 27
		  		  	ARBITRATION

	 	ARTICLE 28	GOVERNING LAW AND JURISDICTION 

28.1 California Law. This Lease is being delivered in the State of California and the Lease and all other Operative Documents will in all
respects be governed by and construed in accordance with the Laws of the State of California (notwithstanding the conflict Laws of the State of California). 
 28.2 Non-Exclusive Jurisdiction in California. As permitted by Section 410.40 of the California Code of Civil Procedure, the parties hereby irrevocably submit to the non-exclusive
jurisdiction of the Federal District Court for the Central District of California and the State of California Superior or Municipal Court in Los Angeles, California. Nothing in this Lease will prevent either party from bringing suit in any other
appropriate jurisdiction. 
 28.3 Protection of Interest in the Aircraft. NOTWITHSTANDING ANYTHING TO THE CONTRARY IN ARTICLE 27,
IF LESSOR DEEMS IT NECESSARY FOR THE CONSERVATION OF THE AIRCRAFT OR FOR THE PROTECTION OF ITS INTEREST IN THE AIRCRAFT, LESSOR IN ITS SOLE DISCRETION MAY BRING PROCEEDINGS IN ANY COURT OF COMPETENT JURISDICTION (INCLUDING BUT NOT LIMITED TO ANY OF
THE COURTS DESIGNATED IN ARTICLE 28.4) IN ORDER TO OBTAIN APPROPRIATE RELIEF, INCLUDING BUT NOT LIMITED TO AN ORDER (A) REQUIRING LESSEE TO MOVE THE AIRCRAFT TO A SUITABLE AIRPORT DESIGNATED BY LESSOR AND CEASE OPERATING THE AIRCRAFT,
(B) REQUIRING LESSEE TO RETURN PHYSICAL POSSESSION OF THE AIRCRAFT TO LESSOR, OR (C) AWARDING SUCH OTHER OR ADDITIONAL RELIEF PROVIDED BY APPLICABLE LAW. 
 28.4 LESSOR Actions in Certain Jurisdictions. Any action by LESSOR pursuant to Article 28.3 may be brought in (a) any Court of competent jurisdiction in Mexico City, Mexico,
(b) any Court of competent jurisdiction in the jurisdiction where the Aircraft is located or operating, and/or (c) the Federal District Court for the Central District of California and/or the Superior Court for the State of California in
Los Angeles, California. 
 28.5 Personal Jurisdiction. LESSEE agrees to submit to personal jurisdiction in the courts of any
jurisdiction to which LESSEE flies the Aircraft or in which the Aircraft is located. 
 28.6 Service of Process. The parties
hereby consent to the service of process (i) in the manner directed by any of the courts referred to above, (ii) in accordance with Section 415.40 of the California Code of Civil Procedure by mailing copies of the summons and
complaint to the person to be served by first-class mail to the address set forth in Article 26.2, postage prepaid, return receipt requested, (iii) in one of the manners specified in Article 26.1 or (iv) in accordance with the
Hague Convention, if applicable. 

  

					
		  	100	  	ARTICLE 28
		  		  	GOVERNING LAW AND JURISDICTION

 28.7 Prevailing Party in Dispute. If any legal action or other proceeding is brought in
connection with or arises out of any provisions in this Lease, the prevailing party will be entitled to recover reasonable attorneys’ fees and other costs incurred in such action or proceedings. The prevailing party will also, to the extent
permissible by Law, be entitled to receive pre- and post-judgment Default Interest. 
 28.8 Future Amendments or Agreements. With
respect to any amendments to this Lease or the other Operative Documents or any other agreements to be entered into between LESSEE and LESSOR after the date of execution of this Lease in connection with the leasing of the Aircraft, including any
amendment to this Lease which may be executed pursuant to Article 14.3 (“Future Agreements”), LESSEE and LESSOR agree that (i) Future Agreements will in all respects be governed by and construed in accordance with
the Laws of the State of California (notwithstanding the conflict Laws of the State of California) and (ii) LESSEE and LESSOR will irrevocably submit to the non-exclusive jurisdiction of the Federal District Court for the Central District of
California and the State of California Superior or Municipal Court in Los Angeles in any suit, action, claim or proceeding seeking to enforce any provision of the Future Agreements, including any claim or proceeding seeking enforcement of
LESSOR’s rights and remedies arising under the Cape Town Convention (to the extent the same is applicable to the transactions contemplated herein). 
 28.9 Waiver. TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH OF LESSEE AND LESSOR HEREBY WAIVES THE RIGHT TO A TRIAL BY JURY. EACH OF LESSEE AND LESSOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATED TO THIS LEASE BROUGHT IN ANY OF THE COURTS REFERRED TO IN ARTICLE 28.2, AND HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT
ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

  

					
		  	101	  	ARTICLE 28
		  		  	GOVERNING LAW AND JURISDICTION

	 	ARTICLE 29	MISCELLANEOUS 

 29.1 Press
Releases. The parties will give copies to one another, in advance if possible, of all news, articles and other releases provided to the public media regarding this Lease or the Aircraft. 

29.2 Power of Attorney. LESSEE hereby irrevocably appoints LESSOR as its attorney for the purpose of putting into effect the intent of this
Lease following an Event of Default, including without limitation, the return, repossession, deregistration and exportation of the Aircraft. To evidence this appointment, LESSEE has executed the Power of Attorney in substantially the form of
Exhibit H. LESSEE will take all steps required under the Laws of the State of Registration to provide such power of attorney to LESSOR. 

29.3 LESSOR Performance for LESSEE. The exercise by LESSOR of its remedy of performing a LESSEE obligation hereunder is not a waiver of and
will not relieve LESSEE from the performance of such obligation at any subsequent time or from the performance of any of its other obligations hereunder. 
 29.4 LESSOR’s Payment Obligations. Any obligation of LESSOR under this Lease to pay or release any amount to LESSEE is conditioned upon (i) all amounts then due and payable by
LESSEE to LESSOR under this Lease or under any other agreement between LESSEE and LESSOR or a direct or indirect subsidiary of LESSOR having been paid in full, (ii) all amounts then due and payable by LESSEE under any aircraft or aircraft
equipment lease agreement which is managed by LESSOR on behalf of another Person having been paid in full and (iii) no Default or Event of Default having occurred and continuing hereunder at the time such payment or release of payment is
payable to LESSEE. 
 29.5 Application of Payments. Any amounts paid or recovered in respect of LESSEE liabilities hereunder may
be applied to Rent, Default Interest, fees or any other amount due hereunder in such proportions, order and manner as LESSOR determines. LESSOR will promptly notify LESSEE of any such application if such application contradicts LESSEE’s
instructions thereon. 
 29.6 Usury Laws. The parties intend to contract in strict compliance with the usury Laws of the State of
California and, to the extent applicable, the U.S. Notwithstanding anything to the contrary in the Operative Documents, LESSEE will not be obligated to pay Default Interest or other interest in excess of the maximum non-usurious interest rate, as in
effect from time to time, which may by applicable Law be charged, contracted for, reserved, received or collected by LESSOR in connection with the Operative Documents. During any period of time in which the then-applicable highest lawful rate is
lower than the Default Interest rate, Default Interest will accrue and be payable at such highest lawful rate; however, if at later times such highest lawful rate is greater than the Default Interest rate, then LESSEE will pay Default Interest at
the highest lawful rate until the Default Interest which is paid by LESSEE equals the amount of interest that would have been payable in accordance with the interest rate set forth in Article 5.7. 

  

					
		  	102	  	ARTICLE 29
		  		  	MISCELLANEOUS

 29.7 Delegation by LESSOR. Without contravening any terms and provisions hereof, LESSOR may
delegate to any Person(s) all or any of the rights, powers or discretion vested in it by this Lease and any such delegation may be made upon such terms and conditions as LESSOR in its absolute discretion thinks fit. 

29.8 Confidentiality. The Operative Documents and all non-public information obtained by either party about the other are confidential and
are between LESSOR and LESSEE only and will not be disclosed by a party to third parties (other than to such party’s auditors or legal advisors; as required in connection with any filings of this Lease in accordance with Article 14; in
connection with LESSOR’s potential sale of the Aircraft or assignment of this Lease; as required for enforcement by either party of its rights and remedies with respect to this Lease or as required by applicable Law) without the prior written
consent of the other party. If any disclosure will result in an Operative Document becoming publicly available, LESSEE and LESSOR will cooperate with one another to obtain confidential treatment as to the commercial terms and other material
provisions of such Operative Document. 
 29.9 Rights of Parties. The rights of the parties hereunder are cumulative, not
exclusive, may be exercised as often as each party considers appropriate and are in addition to its rights under general Law. The rights of one party against the other party are not capable of being waived or amended except by an express waiver or
amendment in writing. Any failure to exercise or any delay in exercising any of such rights will not operate as a waiver or amendment of that or any other such right. Any defective or partial exercise of any such rights will not preclude any other
or further exercise of that or any other such right and no act or course of conduct or negotiation on a party’s part or on its behalf will in any way preclude such party from exercising any such right or constitute a suspension or any amendment
of any such right. 
 29.10 Further Assurances. Each party agrees from time to time to do and perform such other and further acts
and execute and deliver any and all such other instruments as may be required by Law, reasonably requested by the auditors of the other party or requested by the other party to establish, maintain or protect the rights and remedies of the requesting
party or to carry out and effect the intent and purpose of this Lease. 
 29.11 Translations of Lease. If this Lease is translated
into another language, whether or not signed by LESSEE and LESSOR in such other language, solely the terms and provisions of this English version of the Lease will prevail in any dispute. 
 29.12 Use of Word “including”. The term “including” is used in this Lease without limitation. 

  

					
		  	103	  	ARTICLE 29
		  		  	MISCELLANEOUS

 29.13 Headings. All article and paragraph headings and captions are purely for convenience and
will not affect the interpretation of this Lease. Any reference to a specific article, paragraph or section will be interpreted as a reference to such article, paragraph or section of this Lease. 

29.14 Invalidity of any Provision. If any of the provisions of this Lease become invalid, illegal or unenforceable in any respect under any
Law, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired. 
 29.15
Negotiation. The terms of this Lease are agreed by LESSOR from its principal place of business in Los Angeles, California. 

29.16 Time is of the Essence. Time is of the essence in the performance of all obligations of the parties under this Lease and,
consequently, all time limitations set forth in the provisions of this Lease will be strictly observed. 
 29.17 Amendments in
Writing. The provisions of this Lease may only be amended or modified by a writing executed by LESSOR and LESSEE. 
 29.18
Consents Not to be Delayed. If any of the provisions of this Lease require the consent of any party hereto, such consent shall not be unreasonably delayed. 
 29.19 Counterparts. This Lease may be executed in any number of identical counterparts, each of which will be deemed to be an original, and all of which together will be deemed to be one and
the same instrument when each party has signed and delivered one such counterpart to the other party. 
 29.20 Delivery of Documents by
Fax or E-mail. Delivery of an executed counterpart of this Lease or of any other documents in connection with this Lease by fax or e-mail will be deemed as effective as delivery of an originally executed counterpart. Any party delivering an
executed counterpart of this Lease or other document by fax or e-mail will also deliver an originally executed counterpart, but the failure of any party to deliver an originally executed counterpart of this Lease or such other document will not
affect the validity or effectiveness of this Lease or such other document. 
 29.21 Entire Agreement. The Operative Documents
constitute the entire agreement between the parties in relation to the leasing of the Aircraft by LESSOR to LESSEE and supersede all previous proposals, agreements and other written and oral communications in relation hereto. The parties acknowledge
that there have been no representations, warranties, promises, guarantees or agreements, express or implied, except as set forth in this Lease. 

  

					
		  	104	  	ARTICLE 29
		  		  	MISCELLANEOUS

 IN WITNESS WHEREOF, LESSEE and LESSOR have caused this Lease to be executed by their
respective officers as of April 20, 2007. 
  

									
	INTERNATIONAL LEASE FINANCE CORPORATION	 		 	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
					
	By:	 	 /s/ John L. Plueger
	 		 	By:	 	 /s/ Alfonso Ascencio Triujeque

					
	Name:	 	John L. Plueger	 		 	Name:	 	Alfonso Ascencio Triujeque
					
	Its:	 	President and Chief Operating Officer	 		 	Its:	 	General Counsel

 SIGNATURE PAGE 

	 	EXHIBIT A	AIRCRAFT DESCRIPTION 

  

			
	Aircraft Manufacturer and Model:	  	Airbus A319-100
		
	Specification:	  	LESSEE’s Baseline Specification as set forth in Attachment 1 to this Exhibit A
		
	Seating Configuration:	  	144 Y class as set forth in Attachment 1 to this Exhibit A
		
	Manufacturer’s Serial Number:	  	Per Estoppel Certificate
		
	Maximum Gross Takeoff Weight:	  	70.0 tons
		
	Engine Manufacturer and Model:	  	IAE V2524-A5
		
	Engine Serial Numbers:	  	Per Estoppel Certificate
		
	Engine Takeoff Thrust Rating:	  	24,480 pounds per FAA type certificate data sheet

  
 EXHIBIT A

 AIRCRAFT DESCRIPTION 

 ATTACHMENT 1 TO EXHIBIT A 

See attached pages 

  
 EXHIBIT A

 AIRCRAFT DESCRIPTION 

 ATTACHMENT I TO EXHIBIT A 

See attached pages 

  
 EXHIBIT A

 AIRCRAFT DESCRIPTION 

 Volaris May/06 A319 SCN List 
 STANDARD SPECIFICATION Ref. Issue 4.1 
  

			
	 EPAC Ref.
	  	 Title

		  	Introduction of A319-100 Standard Specification at Issue 5
	ATA 02 Certification
	02.10.100/06	  	High altitude certification up to 14100 ft
	02.10.104/20	  	Certification of dynamically tested passenger seats - all classes
	02.10.111/01	  	Compliance with FAA type certification requirements
	02.10.120/01	  	15 knots tailwind certification at Take - off
	02.10.120/02	  	15 knots tailwind certification at landing
	02.12.108/01	  	Extended environmental envelope ( ISA + 40 )
	02.12.140/03	  	Compliance with FAR 121.344
	02.35.135/XX	  	Cabin BFE equipment turned into SSBFE
	02.35.135/XX	  	Avionics BEE equipment turned into SSBFE
	02.40.101/01	  	External livery
	ATA 03 Weights
	03.20.400/XX	  	Design weights MTOW 64 T/ MLW 62.5 T / MZW 58.5 T
	03.20.400/02	  	Design weights increased to MTOW 70.0 T/MLW 62.5 T/MZFW 58.5 T
	ATA 11 Placards and markings
	11.00.104/03	  	Identification plates
	11.00.104/26	  	Cockpit identification plate on lavatory partition
	11.00.105/03	  	Installation of additional identification plate on rear LH fuselage (FAA requirements)
	11.00.136/01	  	Second language for residual cabin and cargo pressure doors
	11.20.106/05	  	Exterior placards and markings in Spanish and English
	11.30.100/01	  	Bilingual cabin placards for passengers per customized definition
	11.30.111/36	  	Bilingual EEPMS exit identifier - English below (vertical) and second language (Horiz.) - Airsigna
	11.30.122/07	  	Installation of placards on emergency equipment containers
	11.30.127/72	  	Installation of additional placards in lavatories
	11.20.115/07	  	Ram Air Turbine - bilingual markings (English / Spanish)
	11.20.119/01	  	NLG permanent steering markers (+/- 95° wheels positions)
	11.20.125/07	  	RVSM markings
	11.20.128/67	  	Air conditioning packs outlet (RAM AIR)
	11.20.128/75	  	Additional external markings
	ATA 21 Air conditioning
	21.27.108/01	  	Avionics ventilation air filter PALL APME QB0452
	21.27.109/04	  	Installation of two ozone catalytic converters (A318 type)

 Volaris May/06 A319 SCN List 

STANDARD SPECIFICATION Ref. Issue 4.1 
  

			
	 EPAC Ref.
	  	 Title

	21.30.000/20	  	Non installation of RPCU
	21.50.050/01	  	Installation of A318 type ECS
	ATA 22 Auto flight
	22.70.100/XX	  	FMS alternate equipment
	ATA 23 Communications
	23.73.144/01	  	Flashing steward call light
	23.00.132/30	  	ELT installation - BFE
	23.11.115/14	  	Installation of one HF system - COLLINS 900 - DIGITAL ATENNA COUPLER - BFE
	23.13.101/02	  	Installation of third RMP 8.33 KHz capable
	23.50.138/04	  	Cockpit hand microphone alternate equipment - Holmberg
	23.51.136/06	  	Installation of Plantronics Boom-sets
	23.71.103/10	  	Solid State Cockpit Voice Recorder (SSCVR) - Honeywell
	Global	  	IFE system- PANASONIC
	23.36.007/01	  	Wiring provisions for digital server system (SC-A and crew panel) - PANASONIC
	23.36.105/04	  	Provisions for VCC in OHSC aft of door 1 LH
	Global	  	CIDS Changes - GLOBAL
	ATA 24 Electrical power
	24.00.335/01	  	Installation of additional electrical outlets 115V/60Hz in cockpit
		  	Provisions and installation of in-seat PC power outlets (2 outlets per triple seat)
	ATA 25 Cabin & cockpit
	Global	  	Cabin layout (144 pax - DWG 319-25-11542)
		  	Provisions for cabin conversion to TACA definition
		  	Interior colour scheme
	25.24.125/01	  	OHSC alternate door - Increased Volume
	Global	  	Cargo compartment - full bulk with reinforced floor panels
	25.50.137/01	  	Rubber seal profile in cargo compartment floor panels
	25.61.112/01	  	Installation of slide raft at FWD and AFT doors
	25.45.212/03	  	Lavatory wash basin - installation of stainless steel
	25.28.103/02	  	From dispersion-adhesive to double- sided adhesive tape
	25.35.130/04	  	Installation of electrical galley catering equipment (BFE) (change 1)
	25.35,131/03	  	Installation of non-electrical galley catering equipment (BFE) (change 1)
	25.35.132/02	  	Installation of non-electrical galley catering/loose equipment (BFE) (change 1)
	25.45.201/18	  	Installation of holder for soap bottles celeste
	25.67.001/01	  	Installation of medical outlets in Aft RH PSU channel (115V/400Hz and 28VDC/360VV)

 Volaris May/06 A319 SCN List 

STANDARD SPECIFICATION Ref. Issue 4.1 
  

			
	 EPAC Ref.
	  	 Title

	25.28.142/XX	  	Non Textile Floor covering selection
		  	Cabin emergency equipment
	ATA 26 Fire protection
	26.21.104/XX	  	Engine fire exting. alternate equipment - PACIFIC SCIENTIFIC
	ATA 27 Flight Controls
	27.92.101/02	  	Visual/Aural indication of simultaneous side stick action
	ATA 29 Hydraulic Power
	29.10.110/09	  	Hydraulic Engine Driven Pumps (EDPs) - EATON AEROSPACE
	29.21.104/07	  	Electropumps - EATON AEROSPACE
	ATA 30 Ice and Rain Protection
	30.11.101/01	  	Wing anti-ice valve alternate equipment - Honeywell
	ATA 31 Indicating/Recording
	31.33.050/24	  	FDIMU - Alternate equipment
	31.33.200/01	  	SSFDR alternate equipment (256 w/s capable) - HONEYWELL
	31.52.102/02	  	ECAM OEB reminder function activation on FWC
	31.60.120/01	  	Installation of LCD EIS2 - Thales Avionics
	ATA 32 Landing gear
	32.00.100/02	  	Installation of full electrically signalled braking system
	32.10.103/01	  	Small bore inflation valve on NLG & MLG BF Goodrich wheels (without indicator)
	32.40.113/25	  	Installation of wheels and brakes - GOODRICH DURACARB
	32.41.111/01	  	Main Landing Gear (MLG) tire selection - MICHELIN
	32.41.120/05	  	Nose Landing Gear (NLG) tire selection - MICHELIN
	32.48.200/XX	  	Installation of universal brake cooling fans
	ATA 33 Lights
	33.50.110/41	  	Installation of floor mounted EEPMS - Lufthansa Technik (with cover) / Exit identifier Airsigna
	ATA 34 Navigation
	34.10.117/04	  	ADIRS alternate equipment - HONEYWELL
	34.13.105/01	  	Installation of aspirated TAT probes - Rosemount
	34.13.106/01	  	Pitot Probes alternate equipment - BF GOODRICH
	34.20.202/02	  	Installation of ISIS
	34.41.300/05	  	Single weather radar with PWS function activated and multi-scan capability - Rockwell Collins
	34.42.101/07	  	Radio altimeter - alternate equipment
	3442.117/01	  	Radio altitude automatic call-out
	34.43.200/35	  	Installation of TCAS - change 7

 Volaris May/06 A319 SCN List 

STANDARD SPECIFICATION Ref. Issue 4.1 
  

			
	 EPAC Ref.
	  	 Title

	34.48.132/01	  	Activation of the GEOMETRIC ALTITUDE function in the EGPWS
	34.48.132/02	  	Activation of the Peaks function in the EGPWS
	34.48.132/03	  	Activation of the Obstacle function in the EGPWS
	34.50.104/04	  	DDRMI VOR / ADF / DME
	34.58.313	  	Multi Mode Receiver (MMR) alternate equipment - ROCKWELL COLLINS
	
	ATA 35 Oxygen
	35.11.101/01	  	Alternate flight crew oxygen cylinder 115 Cu/ft (steel)
	35.20.104/01	  	Identification of pax chemical oxygen generators
	35.21.106/01	  	Installation of four masks per double triple seats
	35.31.108/04	  	Installation of a Scott Aviation PBE in cockpit (BFE) P/N 802300-14
	ATA 36 Pneumatic
	36.110.05/01	  	Engine bleed air alternate supply system
	ATA 38 Water/Waste
	38.41.101/01	  	Pressurization of potable water system
	38.10.104/02	  	Installation of water conditioner in potable water system (A318 A319 A321)
	ATA 46 ATSU
	46.21.102/08	  	Upgraded standard Airbus AOC software for ATSU – Rockwell-Collins
	ATA 49 APU
	49.00.105/04	  	IAPU alternate equipment - ALLIED SIGNAL 131-9A
	ATA 51 Structure
	51.22.201/02	  	Basic paint system selection - PPG AEROSPACE
	ATA 52 Doors
	52.51.100/00	  	Installation of intrusion & penetration resistant cockpit door
	ATA 55 Stabilizers
	55.30.101/01	  	Installation of erosion protection on vertical stabilizer leading edge - Stainless steel
	ATA 56 Windows
	56.10.102/02	  	Cockpit alternate front windows - SAINT-GOBAIN SULLY
	56.10.102/13	  	Cockpit alternate lateral windows - SAINT-GOBAIN SULLY
	ATA 72 Engines
	72.00.119/XX	  	Engines selection

 

 
  

																					
	 Pos.
	 	  	 CMS
	  	 IDN
	  	 ATA
	  	 PN
	  	 Title
	  	 Manufactor
	  	 Ctry.
	  	 Qty.
	  	 UoM

	 	1	  	  	6911006000	  	83488344	  	23-11-33	  	822-0330-020	  	HF Transceiver	  	Rockw. Collins	  	USA	  	1	  	ea
	 	2	  	  	6911020400	  	86237300	  	23-11-33	  	822-4987-003	  	HF Coupler	  	Rockw. Collins	  	USA	  	I	  	ea
	 	3	  	  	6954477100	  	93161181	  	23-33-02	  	RDAX1301-5A	  	Main Multiplexor	  	Panasonic	  	USA	  	I	  	ea
	 	4	  	  	6950490900	  	86547163	  	23-33-02	  	RDAX7095-01	  	CD Player	  	Panasonic	  	USA	  	1	  	ea
	 	5	  	  	6954476600	  	93828291	  	23-33-02	  	RDAX4332-01	  	SEB	  	Panasonic	  	USA	  	48	  	ea
	 	6	  	  	6954592600	  	50239011	  	23-33-02	  	RDAX6740-54	  	PCU r/h	  	Panasonic	  	USA	  	72	  	ea
	 	7	  	  	6954592700	  	50239008	  	23-33-02	  	RDAX6739-54	  	PCU l/h	  	Panasonic	  	USA	  	72	  	ea
	 	8	  	  	6954634100	  	50256012	  	23-33-02	  	RDAM7902-72	  	Cable assy	  	Panasonic	  	USA	  	22	  	ea
	 	9	  	  	6954634200	  	50256015	  	23-33-02	  	RDAM7902-72	  	Cable assy	  	Panasonic	  	USA	  	22	  	ea
	 	10	  	  	6954661700	  	50289508	  	23-33-02	  	RDAM7902-77	  	Cable assy	  	Panasonic	  	USA	  	2	  	ea
	 	11	  	  	6954661800	  	50289513	  	23-33-02	  	ROAM7902-78	  	Cable assy	  	Panasonic	  	USA	  	2	  	ea
	 	12	  	  	6954590400	  	50250843	  	23-36-02	  	RDAA902573-02	  	VCC	  	Panasonic	  	USA	  	1	  	as
	 	13	  	  	6950794200	  	89029658	  	23.36-02	  	RDAV3007-06	  	SCU	  	Panasonic	  	USA	  	1	  	ea
	 	14	  	  	6954685900	  	50424964	  	23-36-02	  	RDAM980132Y	  	s/w	  	Panasonic	  	USA	  	1	  	ea
	 	15	  	  	6954592800	  	50194784	  	23-36-02	  	RDAV1306-01	  	DVD Payer	  	Panasonic	  	USA	  	2	  	ea
	 	16	  	  	6954662100	  	50292998	  	23-36-20	  	RDAV9843-32	  	LCD Monitor 8.4” r/h	  	Panasonic	  	USA	  	8	  	ea
	 	17	  	  	6954662200	  	50293009	  	23-36-20	  	R0AV9844-02	  	LCD Monitor 8.4” l/h	  	Panasonic	  	USA	  	8	  	ea
	 	18	  	  	6944842500	  	50370859	  	27-70-00	  	ATB01-12-570	  	Bonding Cable	  	K.I.D.	  	D	  	36	  	ea
	 	19	  	  	6944981800	  	50191473	  	27-70-00	  	Z270H3201016	  	Cable Assy	  	K.I.D.	  	D	  	96	  	ea
	 	20	  	  	6944937000	  	50193198	  	27-70-00	  	Z280H1040012	  	Outlet Plate	  	K.I.D.	  	D	  	96	  	ea
	 	21	  	  	6944877300	  	87504492	  	27-70-00	  	Z280H1500112	  	1SPSS in use LED	  	K.I.D.	  	D	  	48	  	ea
	 	22	  	  	6944791400	  	50063298	  	27-70-00	  	Z240H3040000	  	Cutlet Unit i	  	K.I.D.	  	D	  	96	  	ea
	 	23	  	  	5944843800	  	89900313	  	27-70-00	  	Z280113105017	  	Cable Assy	  	K.I.D.	  	D	  	48	  	ea
	 	24	  	  	6944926200	  	50063302	  	27-70-00	  	Z285110122110	  	Power Unit	  	K.I.D.	  	D	  	48	  	ea
	 	25	  	  	6977610300	  	50418247	  	25-21-41	  	3510A380-31-021	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	26	  	  	6977810400	  	50418252	  	25-21-41	  	3510A380-31-011	  	Seat tripple Y/C	  	Recaro	  	D	  	19	  	ea
	 	27	  	  	4977610000	  	50418236	  	25-21-41	  	3510A380-31-051	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	28	  	  	6977610100	  	50418238	  	25-21-41	  	3510A380-31-061	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	29	  	  	6977610500	  	50418255	  	25-21-41	  	3510A380-31-111	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	30	  	  	6977610270	  	504l242	  	25-21-41	  	3510A380-31-121	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	31	  	  	6977611200	  	50418287	  	25-21-41	  	3510A380-32-021	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	32	  	  	6977611000	  	50418289	  	26-21-41	  	3510A380-32-011	  	Seat tripple Y/C	  	Recaro	  	D	  	17	  	ea
	 	33	  	  	6977610800	  	50418261	  	25-21-41	  	3510A380-32-031	  	Seat tripple Y/C	  	Recaro	  	D	  	2	  	ea
	 	34	  	  	6977610700	  	50418259	  	25-21-41	  	3510A380-32-041	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	35	  	  	6977610600	  	50418258	  	25-21-41	  	3510A380-32-051	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	36	  	  	6977611100	  	50418293	  	25-21-41	  	3510A380-32-111	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	37	  	  	6977610900	  	50418283	  	25-21-41	  	3510A380-32-121	  	Seat tripple Y/C	  	Recaro	  	D	  	1	  	ea
	 	38	  	  	6920983800	  	50436813	  	25-26-30	  	601255-1	  	MCD	  	Driessen	  	USA	  	1	  	ea
	 	39	  	  	6920983700	  	50436800	  	25-26-30	  	601256-1	  	MCD	  	Driessen	  	USA	  	1	  	ea
	 	40	  	  	6946433500	  	85730584	  	25-26-50	  	1101LS74	  	Curtain	  	Lantal	  	CH	  	12	  	m
	 	41	  	  	6920983300	  	50436837	  	25-27-60	  	601254-1	  	Stowage Ctr. Aft	  	Driessen	  	USA	  	1	  	ea
	 	42	  	  	6920983100	  	50436829	  	25-27-60	  	601257-1	  	Closet Fwd l/h	  	Driessen	  	USA	  	1	  	ea
	 	43	  	  	6920983000	  	50436823	  	25-27-60	  	601258-1	  	Closet Fwd r/h	  	Driessen	  	USA	  	1	  	ea
	 	44	  	  	6925412200	  	92096122	  	25-28-20	  	6513-9353-01	  	Carpet	  	Anker	  	D	  	124	  	m2
	 	45	  	  	6920983200	  	50436831	  	25-30-00	  	601203-101	  	Galley G1	  	Driessen	  	USA	  	1	  	ea

 

 
  

																					
	 Pos.
	 	  	 CMS
	  	 IDN
	  	 ATA
	  	 PN
	  	 Title
	  	 Manufactor
	  	 Ctry.
	  	 Qty.
	  	 UoM

	 	46	  	  	6933830100	  	85841530	  	25-35-10	  	418-0001-23	  	Coffe Maker	  	B/E Aerospace	  	USA	  	2	  	ea
	 	47	  	  	6920984900	  	50471447	  	25-35-20	  	BB001239	  	Std Container	  	Driessen	  	NL	  	12	  	ea
	 	48	  	  	6920354930	  	50471440	  	25-35-20	  	TG502001	  	Trolley Waste F/S	  	Driessen	  	NL	  	1	  	ea
	 	49	  	  	6920985400	  	50471496	  	25-35-20	  	TH500005	  	Trolley Waste H/S	  	Driessen	  	NL	  	2	  	ea
	 	50	  	  	6920984800	  	50471438	  	25-35-20	  	TK500020	  	Trolley F/S	  	Driessen	  	NL	  	2	  	ea
	 	51	  	  	6920985000	  	50471442	  	25-35-20	  	TL500017	  	Trolley H/S	  	Driessen	  	NL	  	2	  	ea
	 	52	  	  	6920985200	  	50471488	  	25-35-20	  	WA500004	  	Waste Bin	  	Driessen	  	NL	  	1	  	ea
	 	53	  	  	6920985300	  	50471494	  	25-35-20	  	WB500004	  	Waste Bin	  	Driessen	  	NL	  	2	  	ea
	 	54	  	  	6933631100	  	85841688	  	25-35-30	  	416-0201-5	  	CM Rail	  	B/E Aerospace	  	USA	  	2	  	ea
	 	55	  	  	8933230000	  	82688578	  	25-60-10	  	1151324-1	  	ELT	  	Honeywell	  	USA	  	1	  	es
	 	56	  	  	6911120300	  	82700196	  	25-60-10	  	93N6035	  	Driessen	  	ELTA	  	F	  	1	  	ea
	 	57	  	  	8911120100	  	82700463	  	25-60-10	  	95N6088	  	ELT	  	ELTA	  	F	  	1	  	ea
	 	58	  	  	6911120200	  	82700579	  	25-60-10	  	95N6089	  	Programming Box	  	ELTA	  	F	  	1	  	ea
	 	59	  	  	8903741500	  	86007339	  	25-65-00	  	502745E2258	  	Seat Belt	  	AM - Safe	  	USA	  	144	  	ea
	 	60	  	  		  		  		  		  	Seat Belt Demo	  		  		  	3	  	
	 	61	  	  	6937822900	  	92384250	  	25-66-00	  	3505-151-92	  	Life Vest Pax	  	Hoover	  	USA	  	144	  	ea
	 	62	  	  	6937823100	  	92384411	  	25-66-00	  	3505-151C92	  	Life Vest Crew	  	Hoover	  	USA	  	8	  	ea
	 	63	  	  	6937823000	  	92384535	  	25-66-00	  	3505-151D92	  	Life Vest Demo	  	Hoover	  	USA	  		  	ea
	 	64	  	  		  		  	34-43-11	  	751-4081-911	  	TCAS Antenna	  	ACSS	  	USA	  	2	  	ea
	 	65	  	  		  		  	34-43-34	  	751-7900-10003	  	TCAS II Computer	  	ACSS	  	USA	  	1	  	ea
	 	66	  	  	6986205100	  	72556330	  	35-32-10	  	802300-14	  	PBE	  	Avox Systems	  	USA	  	4	  	ea
	 	67	  	  	6986221300	  	89004675	  	35-32-10	  	803436-22	  	PBE Bracket	  	Avox Systems	  	USA	  	2	  	ea
	 	68	  	  		  		  		  		  		  		  		  		  	

  
 

 

  
 

 

	 	EXHIBIT B	PARTICIPATION AGREEMENT 

 This Participation Agreement is made this      day of             ,
         (the “Participation Agreement”) 
 BETWEEN 

 

	(1)	INTERNATIONAL LEASE FINANCE CORPORATION, a corporation organized and existing under the laws of the State of California, United States of America, having its principal
corporate offices located at 10250 Constellation Boulevard, 34th Floor, Los Angeles, California 90067, U.S.A. (“ILFC”); and 

  

	(2)	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V., a Mexican company whose principal place of business is at Prolongacion Paseo de la Reforma No. 490,
Piso 1 (Edificio GE), Santa Fe Pena Blanca, Del. Alvaro Obregon, Mexico, D.F., Mexico 01210 (“LESSEE”) 

RECITALS 
  

	(A)	Pursuant to the Airbus A319-100 Purchase Agreement between ILFC and AVSA S.A.R.L. (now Airbus S.A.S., legal successor to AVSA, S.A.R.L.) (“AIRBUS”)
dated as of June 17, 2001, as further amended (the “Purchase Agreement”) and the General Terms Agreement between ILFC and AIRBUS dated as of November 10, 1988, as further amended (the “G.T.A.”), ILFC has
agreed to purchase from AIRBUS certain Airbus A319-100 model aircraft, including the aircraft bearing as of today manufacturer’s serial number [            ] and scheduled for
delivery in April 2008 (the “Aircraft”); 

  

	(B)	Pursuant to the Product Support Agreement (Exhibit E) applicable to the Purchase Agreement (the “Support Agreement”), AIRBUS has agreed to provide
certain product support to ILFC; 

  

	(C)	Pursuant to the Aircraft Lease Agreement between ILFC and LESSEE dated as of April 20, 2007 (the “Lease Agreement”), ILFC has agreed to lease the
Aircraft to LESSEE; 

  

	(D)	ILFC and LESSEE have agreed to enter into this Participation Agreement: 

 IT IS NOW HEREBY AGREED AS FOLLOWS: 
 1. Authorization for LESSEE to
Participate. ILFC hereby authorizes LESSEE to participate in the following activities in connection with the delivery of the Aircraft: 
 (a) to inspect, pursuant to Clause 7.1 of the G.T.A., the manufacture of the Aircraft and the materials and parts thereto; and 

  

					
		  	108	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 (b) to attend and observe the acceptance tests of the Aircraft referred to
in Clause 8.1 of the G.T.A.; and 
 (c) to receive, pursuant to Clause 15 of the Support Agreement, the
technical publications set forth in Appendix 3 hereto; and 
 (d) to receive the benefit of a product
support allowance as set forth in Appendix 3 hereto. 
 2. Effectivity of Participation Agreement. This
Participation Agreement shall be effective from the date hereof until the earliest of: 
 (a) the occurrence of
an Event of Default as defined in the Lease Agreement; 
 (b) notification by ILFC to LESSEE of the termination
hereof; or 
 (c) transfer of Aircraft title by AIRBUS to ILFC or its designee. 

3 Conditions of Participation. This Participation Agreement is made subject to the following conditions: 

(a) LESSEE hereby agrees to be bound by and to comply with the following provisions of the G.T.A. and the Support
Agreement (copies of which are attached hereto) as if LESSEE had been named “Buyer” of the Aircraft under such agreements: 
 (i) Clauses 7.2 and 8.5 of the G.T.A. to the extent of (aa) injury to or death of any LESSEE representative, (bb) loss or damage to property of any LESSEE representatives and (cc) liabilities,
damages, losses, costs and expenses of AIRBUS and its associated subcontractors, officers, agents and employees arising out of or caused by the willful misconduct or gross negligence of LESSEE’s representatives, and 

(ii) Clauses 16.9 and 18.5 of the Support Agreement. 

(b) So long as this Participation Agreement is in full force and effect, LESSEE and not ILFC will be responsible for the
liabilities and obligations set forth in section 3(a) above. 
 (c) For avoidance of doubt, even while this
Participation Agreement is in full force and effect, ILFC will remain responsible for compliance with Clauses 7.2 and 8.5 of the G.T.A. to the extent of (aa) injury to or death of any ILFC representative, (bb) loss or damage to property of any
ILFC representative and (cc) liabilities, damages, losses, costs and expenses of AIRBUS and its associated subcontractors, officers, agents and employees arising out of or caused by the willful misconduct or gross negligence of ILFC’s
representatives. 

  

					
		  	109	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 (d) Except with respect to events occurring prior to termination of the
Participation Agreement, upon termination of this Participation Agreement, ILFC shall once again be bound by Clauses 7.2 and 8.5 of the G.T.A. and Clauses 16.9 and 18.5 of the Support Agreement with respect to the Aircraft. 

(e) Other than with respect to the obligations expressly assumed by LESSEE under this Participation Agreement as set forth
in section 3(a) above, ILFC shall remain fully bound by all provisions of the Purchase Agreement, the G.T.A. and the Support Agreement. 
 (f) Nothing contained herein shall subject AIRBUS to any liability or additional obligations whatsoever to which it would not otherwise be subject under the Purchase Agreement, the G.T.A. and the Support
Agreement or, except to the extent set forth in sections 3(a) and (b) above, modify in any respect whatsoever its contractual rights under the said agreements. 

(g) LESSEE shall not be appointed as ILFC’s agent and shall not be permitted to act on behalf or in place of ILFC
without the express written authorization of ILFC and nothing contained herein shall be construed as to give such authorization. 
 4. Notification 
 (a) This Participation Agreement
shall be notified by ILFC to AIRBUS by courier service immediately after the execution hereof. AIRBUS shall not be deemed to have received notice of any of the provisions hereof prior to receipt of notice as provided in section 4(c) hereof in
the form of Appendix 1 hereto. 
 (b) On termination of this Participation Agreement pursuant to either
section 2(a) or (b) hereof, ILFC shall immediately notify AIRBUS by courier service of such termination. AIRBUS shall not be deemed to have received notice of such termination prior to receipt of notice as provided in section 4(c)
hereof in the form of Appendix 2 hereto. AIRBUS can rely on such notice without further inquiry. 

  

					
		  	110	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 (c) All notices and requests required or authorized under this Participation
Agreement shall be given in writing either by personal delivery to a responsible officer of the party to whom the same is given or by internationally recognized courier service or by telefax directed as set forth below: 

 

					
	ILFC shall be addressed at:
		
		 	 10250 Constellation Boulevard, 34th Floor
 Los Angeles, California 90067
 U.S.A.

			
		 	Attention:	  	Senior Vice PresidentCTechnical
			
		 	Fax:	  	1-310-788-1990
		 	Telephone:	  	1-310-788-1999
	
	LESSEE shall be addressed at:
		
		 	 CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
 Prolongación Paseo de la Reforma #490
 Piso 1 (Edificio GE)

Col. Santa Fe Peña Blanca
 Del.
Álvaro Obregón
 01012 México, D.F.
 México

			
		 	Attention:	  	Finance Director
			
		 	Fax:	  	+503-298-3064
		 	Telephone:	  	+503-298-1560
	
	AIRBUS shall be addressed at:
		
		 	 1, rond-point Maurice Bellonte
 31707 Blagnac Cedex
 France

			
		 	Attention:	  	VP, Contracts Administration & Delivery Transactions
			
		 	Fax:	  	33-5-61-93-41-95
		 	Telephone:	  	33-5-61-93-32-16

 or at such other address or to such other person as the party receiving the notice or request may
designate from time to time. 
 Such notice or request shall be deemed to be effective in the case of (aa) personal delivery, on
the date upon which personally delivered, (bb) delivery by courier, on the date of receipt or (cc) telefax transmission, on the date of confirmation of successful transmission. 

  

					
		  	111	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 5. Survival of Obligations. The obligations of LESSEE set forth in
section 3(a) with respect to events occurring prior to termination of this Participation Agreement will survive termination of the Participation Agreement. 
 6. Provision of Referenced Clauses. LESSOR shall provide LESSEE with the copies of the clauses of the G.T.A. and Support Agreement referenced and required herein. 

7. Assignment. The rights and obligations under this Participation Agreement are personal to the parties and shall not be
assigned, transferred, sold or otherwise disposed of by either of the parties hereto. 
 8. Applicable Law and
Jurisdiction. THIS PARTICIPATION AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CHOICE OF LAW, AND THE PARTIES AGREE THAT ANY COMPETENT FEDERAL COURT LOCATED
IN NEW YORK, NEW YORK SHALL HAVE JURISDICTION OVER ANY DISPUTE ARISING IN CONNECTION HEREWITH. Nothing in this section will prevent either party from making a claim in a court of competent jurisdiction in California or, if AIRBUS is involved,
France. 
 9. Confidentiality. Subject to any legal or governmental requirements of disclosure, ILFC and LESSEE
shall keep confidential the terms and conditions of this Participation Agreement and the clauses from the G.T.A. and the Support Agreement provided to LESSEE pursuant to this Participation Agreement. 

IN WITNESS WHEREOF, the parties have caused this Participation Agreement to be executed on their behalf by their duly authorized
representatives. 
  

									
	INTERNATIONAL LEASE FINANCE CORPORATION	 		 	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
					
	By:	 	  
	 		 	By:	 	  

					
	Its:	 	  
	 		 	Its:	 	  

  

					
		  	112	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 APPENDIX 1 
 [DATE] 
 BY COURIER 
 AIRBUS S.A.S. 
 1, rond-point Maurice Bellonte 

31707 Blagnac Cedex 
 France 

Attention: VP, Contracts Administration & Delivery Transactions 

 

			
	 Re:
	  	 ILFC/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.:
 PARTICIPATION AGREEMENT FOR AIRBUS A319-100 MSN [            ] (the “Aircraft”)

 Dear Sirs, 
 Pursuant to Section 4(a) of the Participation Agreement between ILFC and CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. dated April 20, 2007, we advise you that pursuant to the
Participation Agreement (a copy of which is attached hereto),CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. has been authorized by ILFC to participate with respect to the Aircraft. This authorization shall be effective on acknowledgment of
this letter by you. 

  

					
		  	113	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 We confirm for your benefit the provisions of Sections 3(c), 3(d), 3(e) and 3(f)
contained therein. 
  

	
	Yours faithfully,
	
	  

	 for and on behalf of

INTERNATIONAL LEASE FINANCE CORPORATION

 CC: CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 

AIRBUS S.A.S. confirms receipt of this notice and agrees to the terms of Section 3 of the Participation Agreement. 

 

			
	By:	 	  

		
	Its:	 	  

		
	Date:	 	  

  

					
		  	114	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 APPENDIX 2 
 [DATE] 
 BY COURIER 
 AIRBUS S.A.S. 
 1, rond-point Maurice Bellonte 

31707 Blagnac Cedex 
 France 

Attention: VP, Contracts Administration & Delivery Transactions 

 

			
	 Re:
	  	 ILFC/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.:
 PARTICIPATION AGREEMENT FOR AIRBUS A319-100 MSN [            ]

 Dear Sirs, 
 Pursuant to Section 4(b) of the Participation Agreement between ILFC and CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. dated
            ,         , we advise you that the authorization provided therein for CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE
C.V. is terminated with immediate effect. 
  

	
	Yours faithfully,
	
	  

	 for and on behalf of

INTERNATIONAL LEASE FINANCE CORPORATION

 CC: CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 

  

					
		  	115	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 APPENDIX 3 

 

	a)	TECHNICAL PUBLICATIONS 

 As
selected by LESSEE from the Technical Data and Documentation Index attached to this Appendix 3 
  

	b)	PRODUCT SUPPORT ALLOWANCE 

 A
product support allowance in the amount of *****, which will be valid to procure support including field service and training (pursuant to Clauses 16 and 18 of the Support Agreement, respectively), manuals, AIRBUS proprietary spare parts, and
such other product support goods and services as can be purchased through AIRBUS. 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	116	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 TECHNICAL DATA INDEX 
 The following index identifies the Technical Data provided in support of the Aircraft. The explanation of the table is as follows: 

 

			
	NOMENCLATURE	  	Self-explanatory.
		
	ABBREVIATED DESIGNATION (Abbr) 	  	Self-explanatory.

 FORM 
  

			
	OL-A	  	ON-LINE through Airbus On-Line Services: Advanced Consultation and Navigation System
		
	CD-A	  	CD-ROM: Advanced Consultation and Navigation System
		
	CD-P	  	CD-ROM: in PDF—Portable Document Format
		
	D	  	DISKETTE (Floppy Disk)
		
	DD	  	DIGITAL DATA. Stands generally for SGML format on CD-ROM/
		
	DVD	  	DVD—Digital Versatile Disk
		
	P1	  	PRINTED ONE SIDE. Refers to manuals in paper with print on one (1) side of the sheets only.
		
	P2	  	PRINTED BOTH SIDES. Refers to manuals with print on both sides of the sheets.

  

					
		  	117	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 STF—Revision 6.1 dated January 2003 
 ALL A/C types (NA to A380) 
 Exhibit G—2/9 

 

					
	TYPE	 	C	  	CUSTOMIZED. Refers to manuals which are applicable to an individual Airbus customer/operator fleet or aircraft.
			
		 	G	  	GENERIC. Refers to manuals that are for all aircraft types/models/series.
			
		 	E	  	ENVELOPE. Refers to manuals that are applicable to a whole group of Airbus customers for a specific aircraft type/model/series.
			
		 	P	  	PRELIMINARY. Refers to preliminary data or manuals which may consist of either:
			
		 		  	 •     one-time issue not maintained by revision service, or

			
		 		  	 •     preliminary issues maintained by revision service until final manual or data delivery,
or

			
		 		  	 •     supply of best available data under final format with progressive completion through revision
service.

			
	ATA	 		  	Manuals established in general compliance with ATA 100 Revision 21 (for WB aircraft)—Revision 23 (for SA aircraft)—Revision 26 (for LR aircraft)—and digital
Standards established in general compliance with ATA Specification 2200 (iSpec 2200), Information Standards for Aviation Maintenance. Subsequent revisions of the ATA Specification will be considered.
		
	QUANTITY (Qty)	  	Self-explanatory.
		
	DELIVERY (Deliv)	  	Delivery refers to scheduled delivery dates and is expressed in either the number of corresponding days prior to first Aircraft delivery, or nil (0) corresponding to the first
delivery day.
			
		 		  	The number of days indicated shall be rounded up to the next regular revision release date.

  

					
		  	118	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

 APPENDIX 4 
 [Copies of Clauses 7.2 and 8.5 of the General Terms Agreement and Clauses 16.9 and 18.5 of the Support Agreement] 

  

					
		  	119	  	EXHIBIT B
		  		  	PARTICIPATION AGREEMENT

	7.2	THE SELLER SHALL INDEMNIFY AND HOLD HARMLESS THE BUYER, ITS OFFICERS, AGENTS AND EMPLOYEES FROM AND AGAINST ALL LIABILITIES, DAMAGES, LOSSES, COSTS AND EXPENSES FOR ALL
INJURIES TO AND DEATHS OF PERSONS (EXCEPTING INJURIES TO OR DEATH OF THE BUYER’S REPRESENTATIVES PARTICIPATING IN ANY TESTS, CHECK OUT OR INSPECTIONS UNDER THIS CLAUSE 7) AND FOR LOSS OF OR DAMAGE TO PROPERTY (EXCEPTING LOSS OF OR DAMAGE TO
PROPERTY OF THE BUYER’S SAID REPRESENTATIVES), CAUSED BY THE BUYER OR ITS REPRESENTATIVES ARISING OUT OF OR IN CONNECTION WITH ANY SUCH TESTS, CHECK OUT AND INSPECTIONS UNDER THIS CLAUSE 7, EXCEPT FOR ANY SUCH LIABILITIES, DAMAGES, LOSSES,
COSTS AND EXPENSES ARISING OUT OF OR CAUSED BY THE WILLFUL MISCONDUCT OR GROSS NEGLIGENCE OF THE BUYER’S SAID REPRESENTATIVES. 

 THE BUYER SHALL INDEMNIFY AND HOLD HARMLESS THE SELLER, THE MANUFACTURER, AND EACH OF THE ASSOCIATED CONTRACTORS AND THEIR RESPECTIVE SUBCONTRACTORS AND THEIR RESPECTIVE OFFICERS, AGENTS, AND EMPLOYEES
FROM AND AGAINST ALL LIABILITIES, DAMAGES, LOSSES, COSTS AND EXPENSES (I) FOR INJURIES TO OR DEATHS OF THE BUYER’S SAID REPRESENTATIVES DURING ANY TESTS, CHECK OUT, INSPECTIONS OR CONTROLS UNDER THIS CLAUSE 7, (II) FOR LOSS OF OR DAMAGE TO
PROPERTY OF THE BUYER’S SAID REPRESENTATIVES, OR (III) ARISING OUT OF OR CAUSED BY THE WILLFUL MISCONDUCT OR GROSS NEGLIGENCE OF THE BUYER’S SAID REPRESENTATIVES. 
 IN THE EVENT ANY CLAIM IS MADE OR SUIT IS BROUGHT AGAINST EITHER PARTY (OR ITS RESPECTIVE OFFICERS, AGENTS OR EMPLOYEES) FOR DAMAGES FOR DEATH OR INJURY, THE LIABILITY FOR WHICH HAS SEEN ASSUMED BY THE
OTHER PARTY PURSUANT TO THIS SUB-CLAUSE 7.2, THE FORMER PARTY SHALL PROMPTLY GIVE NOTICE TO THE OTHER PARTY, AND THE LATTER SHALL HAVE THE RIGHT TO ASSUME AND CONDUCT THE DEFENSE THEREOF, OR TO EFFECT ANY SETTLEMENT WHICH IT, IN ITS OPINION, DEEMS
PROPER (FOR THE PURPOSE OF THIS SUB-CLAUSE 7.2, A CLAIM OR SUIT AGAINST THE MANUFACTURER OR ANY OF THE ASSOCIATED CONTRACTORS OR ANY OF THEIR RESPECTIVE SUBCONTRACTORS OR ANY OF THEIR RESPECTIVE OFFICERS, AGENTS OR EMPLOYEES SHALL BE DEEMED TO BE A
CLAIM OR SUIT AGAINST THE SELLER). 

  
 7-1

	8.5	THE SELLER SHALL INDEMNIFY AND HOLD HARMLESS THE BUYER, ITS OFFICERS, AGENTS AND EMPLOYEES FROM AND AGAINST ALL LIABILITIES, DAMAGES, LOSSES COSTS AND EXPENSES FOR ALL
INJURIES TO AND DEATHS OF PERSONS (EXCEPTING INJURIES TO AND DEATHS OF THE BUYER’S REPRESENTATIVES PARTICIPATING IN ANY GROUND AND FLIGHT TESTS UNDER THIS CLAUSE 8) AND FOR LOSS OF OR DAMAGE TO PROPERTY (EXCEPTING LOSS OF OR DAMAGE TO PROPERTY
OF THE BUYER’S SAID REPRESENTATIVES), CAUSED BY THE BUYER, ARISING OUT OF OR IN CONNECTION WITH THE OPERATION OF THE AIRCRAFT DURING ANY GROUND AND FLIGHT TESTS UNDER THIS CLAUSE 8, EXCEPT FOR ANY SUCH LIABILITIES, DAMAGES, LOSSES, COSTS AND
EXPENSES ARISING OUT OF OR CAUSED BY THE WILLFUL MISCONDUCT OR GROSS NEGLIGENCE OF THE BUYER’S SAID REPRESENTATIVES. 

 THE BUYER SHALL INDEMNIFY AND HOLD HARMLESS THE SELLER, THE MANUFACTURER, EACH OF THE ASSOCIATED CONTRACTORS AND THEIR RESPECTIVE SUBCONTRACTORS AND THEIR RESPECTIVE OFFICERS, AGENTS AND EMPLOYEES FROM
AND AGAINST ALL LIABILITIES, DAMAGES, LOSSES, COSTS AND EXPENSES (I) FOR INJURIES TO OR DEATHS OF THE BUYER’S SAID REPRESENTATIVES DURING ANY GROUND OR FLIGHT TESTS UNDER THIS CLAUSE 8, (II) FOR LOSS OF OR DAMAGE TO PROPERTY OF THE
BUYER’S SAID REPRESENTATIVES, OR (III) ARISING OUT OF OR CAUSED BY THE WILLFUL MISCONDUCT OR GROSS NEGLIGENCE OF THE BUYER’S SAID REPRESENTATIVES. 
 IN THE EVENT ANY CLAIMS IS MADE OR SUIT IS BROUGHT AGAINST EITHER PARTY (OR ITS RESPECTIVE OFFICERS, AGENTS OR EMPLOYEES) FOR DAMAGES FOR DEATHS OR INJURY, THE LIABILITY FOR WHICH HAS BEEN ASSUMED BY THE
OTHER PARTY PURSUANT TO THIS SUB-CLAUSE 8.5, THE FORMER SHALL PROMPTLY GIVE NOTICE TO THE OTHER PARTY, AND THE LATTER SHALL HAVE THE RIGHT TO ASSUME AND CONDUCT THE DEFENSE THEREOF, OR TO EFFECT ANY SETTLEMENT, WHICH IT, IN ITS OPINION, DEEMS
PROPER. FOR THE PURPOSE OF THIS SUB-CLAUSE 8.5, A CLAIM OR SUIT AGAINST THE MANUFACTURER OR ANY OF THE ASSOCIATED CONTRACTORS OR ANY OF THEIR RESPECTIVE SUBCONTRACTORS OR ANY OF THEIR RESPECTIVE OFFICERS, AGENTS OR EMPLOYEES SHALL BE DEEMED TO
BE A CLAIM OR SUIT AGAINST THE SELLER. 

  
 8-2

	16.9	INDEMNITY 

 THE BUYER
SHALL BE SOLELY LIABLE FOR, AND HEREBY INDEMNIFY AND HOLD HARMLESS THE SELLER, THE MANUFACTURER AND EACH OF THE ASSOCIATED CONTRACTORS AND THEIR RESPECTIVE SUBCONTRACTORS AND THEIR RESPECTIVE OFFICERS, AGENTS AND EMPLOYEES FROM AND AGAINST ALL
LIABILITIES, DAMAGES, LOSSES, COSTS AND EXPENSES (EXCEPTING INJURIES TO AND DEATHS OF THE SELLER REPRESENTATIVES AND/OR CUSTOMER SUPPORT MANAGER PROVIDING THE SERVICES UNDER THIS CLAUSE), AND FOR LOSS OF OR DAMAGE TO PROPERTY, HOWSOEVER ARISING OUT
OF OR IN CONNECTION WITH PERFORMANCE OF THE SERVICES UNDER THIS CLAUSE. 
 THE SELLER SHALL HEREBY INDEMNIFY
AND HOLD HARMLESS. THE BUYER, ITS OFFICERS, AGENTS AND EMPLOYEES FROM AND AGAINST ALL LIABILITIES, DAMAGES, LOSSES, COSTS AND EXPENSES FOR INJURIES TO OR DEATHS OF THE SELLER REPRESENTATIVES AND/OR CUSTOMER SUPPORT MANAGER DURING THE PERFORMANCE OF
SERVICES UNDER THIS CLAUSE. 
 FOR THE PURPOSE OF THIS SUB-CLAUSE 16.8, THE SELLER REPRESENTATIVES AND/OR CUSTOMER SUPPORT
MANAGER SHALL BE DEEMED TO INCLUDE THE SELLER REPRESENTATIVES AND/OR CUSTOMER SUPPORT MANAGER REFERRED TO IN SUB-CLAUSES 16.1.1 AND 16.2 ABOVE. 

  
 Exh. E-60

 Exhibit “E” 

 

	18.5	Indemnity and Insurance 

THE BUYER SHALL BE SOLELY LIABLE FOR, AND HEREBY INDEMNIFIES AND HOLDS HARMLESS THE SELLER, THE MANUFACTURER, AEROFORMATION AND EACH OF
THE ASSOCIATED CONTRACTORS AND THEIR RESPECTIVE SUBCONTRACTORS AND THEIR RESPECTIVE OFFICERS, AGENTS AND EMPLOYEES FROM AND AGAINST ALL LIABILITIES, DAMAGES, LOSSES, CONSEQUENTIAL DAMAGES, LOSS OF USE, BUSINESS INTERRUPTION, COSTS AND EXPENSES FOR
ALL INJURIES TO AND DEATHS OF PERSONS (EXCEPTING INJURIES TO AND DEATH OF SELLER’S REPRESENTATIVES PARTICIPATING IN ANY TRAINING, TESTS, CHECK OUTS OR CONTROLS OR IN GENERAL PROVIDING THE SERVICES UNDER THIS CLAUSE), AND FOR LOSS OF OR DAMAGE
TO PROPERTY ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE PERFORMANCE OF SERVICES UDDER THIS CLAUSE 18, WHETHER THE SAID LIABILITIES, ARISE DURING OR AFTER THE COMPLETION OF THE TRAINING COURSE. 

  
 Exh. E-70

 Exhibit “E” 
  

 THE SELLER HEREBY INDEMNIFIES AND HOLDS HARMLESS THE BUYER, ITS OFFICERS, AGENTS AND
EMPLOYEES FROM AND AGAINST ALL LIABILITIES, DAMAGES, LOSSES, COSTS AND EXPENSES FOR INJURIES TO OR DEATHS OF SELLER’S SAID REPRESENTATIVES DURING THEIR PARTICIPATION IN ANY TRAINING, TESTS, CHECK OUTS OR CONTROL OR IN GENERAL PERFORMANCE OF
SERVICES UNDER THIS CLAUSE. 
 IN NO EVENT WILL THE BUYER, ITS INSURERS OR REPRESENTATIVES MAKE OR CAUSE TO BE MADE A CLAIM OR
LAWSUIT AGAINST THE SELLER, THE MANUFACTURER, AEROFORMATION OR ASCO IN CONNECTION WITH ANY CLAIM OR LAWSUIT BROUGHT AGAINST THE BUYER, NOR WILL THE BUYER, ITS INSURERS OR REPRESENTATIVES ADD AS A PARTY DEFENDANT THE SELLER, THE MANUFACTURER,
AEROFORMATION OR ASCO TO ANY SUCH CLAIM OR LAWSUIT OR ANY ACTION IN CONNECTION THEREWITH. 
 FOR THE FLIGHT TRAINING PERIOD AS
DESCRIBED IN SUB-CLAUSE 18.2.1.1 AND 18.2.1.2 THE BUYER SHALL: 
  

	 	(1)	INDEMNIFY AND WAIVE ANY RIGHTS OF RECOURSE AGAINST THE SELLER, THE MANUFACTURER, AND AEROFORMATION AND EACH OF THE ASSOCIATED CONTRACTORS AND THEIR RESPECTIVE
SUBCONTRACTOR AND THEIR RESPECTIVE OFFICERS, AGENTS, EMPLOYEES AND SUBCONTRACTORS IN RESPECT OF HULL ALL RISKS INSURANCE POLICY AND 

  

	 	(2)	EFFECT INSURANCE TO COVER THIRD PARTY, PASSENGER AND FREIGHT LIABILITY RISKS ARISING DURING SAID FLIGHT TRAINING IN AN AMOUNT SATISFACTORY TO THE SELLER AND NAMING THE
SELLER, THE MANUFACTURER, AEROFORMATION AND EACH OF THE ASSOCIATED CONTRACTORS AND THEIR RESPECTIVE SUBCONTRACTORS AND THEIR RESPECTIVE OFFICERS, AGENTS, EMPLOYEES AND SUBCONTRACTORS AS ADDITIONAL INSUREDS. SUCH INSURANCE SHALL CONTAIN A
CROSS-LIABILITY CLAUSE TO THE INTENT THAT EACH INSURED COVERED BY THE POLICY SHALL HAVE THE SAME PROTECTION AS WOULD HAVE BEEN AVAILABLE HAD SUCH POLICY BEEN ISSUED INDIVIDUALLY TO EACH OF THEM. 

THE BUYER SHALL DELIVER TO THE SELLER A CERTIFICATE OF INSURANCE EVIDENCING THE COVER REQUIRED BY THIS CLAUSE. 

  
 Exh. E-71

	 	EXHIBIT C	CERTIFICATE OF INSURANCE (FOR LESSOR) 

 [Refer to Aircraft Lease Agreement dated as of April 20, 2007 between LESSEE and LESSOR (the “Lease”). If applicable, insurance certificates from both the insurers and reinsurers
will be provided. If there is a LESSOR’s Lender, include references to it where appropriate after references to LESSOR.] 
  

					
	 To:
	  	 INTERNATIONAL LEASE FINANCE CORPORATION (“LESSOR”)

10250 Constellation Boulevard, 34th Floor
 Los
Angeles, California 90067, U.S.A.

			
	 Re:
	  	 CONCESIONARIA
 VUELA
COMPANIA DE
 AVIACION, S.A. DE C.V.
	 	
		  	 (“LESSEE”)

Airbus A319-100
	 	
		  	Manufacturer’s Serial No.:	 	[            ]
		  	Registration Mark:	 	[Aircraft registration mark, or             
		  		 	to mark place] (the “Aircraft”)

 The following security has subscribed to the following insurance and/or reinsurance policies: 

[LIST APPLICABLE POLICY NUMBERS, COMPANIES & PERCENTAGES] 

THIS IS TO CERTIFY THAT, as Insurance Brokers, we have effected Fleet Insurance in respect of aircraft owned or operated by LESSEE
(including the Aircraft) as specified below. 
 AIRCRAFT HULL ALL RISKS 

COVERING: 
 All risks of
physical loss or damage to the Aircraft from any cause (subject only to the exclusions as specified below), for an Agreed Value of Aircraft in the amount of US$         [list amount calculated in accordance
with Article ] 
 DEDUCTIBLES: 
 ***** each and every loss (or such lesser amount as applicable to the rest of LESSEE’s fleet). Not applicable to Total Loss/Constructive Total Loss or Arranged Total Loss 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	120	  	EXHIBIT
		  	CERTIFICATE OF INSURANCE (FOR LESSOR)

 GEOGRAPHICAL COVERAGE: 
 Worldwide 
 AVIATION AND AIRLINE GENERAL THIRD PARTY LIABILITY

 COVERING: 
 Aircraft Third Party, Passenger, Baggage, Cargo and Mail Liability and Airline General Third Party Liability (including Premises, Hangarkeepers, Products Liability and Contractual Liability) for combined
single limit of not less than ***** (or such higher amount as LESSEE may carry on any other aircraft in its fleet) any one accident/occurrence (but in the aggregate in relation to Products Liability), extended to cover LESSEE’S liability under
the Lease to the extent of the risks covered by the policy including war and allied perils under Extended Coverage Endorsement as per AVN 52E (however, the total War and Allied Perils Liability Coverage including Third Party War Risks must be the
same amount as the combined single limit by the purchase of Excess Third Party War Risks insurance subject only to exclusions as specified below, unless otherwise agreed by LESSOR in writing 
 GEOGRAPHICAL LIMITS: 
 Worldwide 

HULL WAR AND ALLIED PERILS 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	121	  	EXHIBIT
		  	CERTIFICATE OF INSURANCE (FOR LESSOR)

 COVERING: 
 Hull War Risks as per LSW555.D, but including (a) confiscation or requisition (including by State of Registration and state where airline is domiciled), (b) hijacking or other unlawful seizure
or wrongful exercise of control of the Aircraft or crew in flight (including any attempt at such seizure or control) and covering claims excluded from Hull All Risks Policy while Aircraft outside Assured’s control by reason of perils insured
under this policy, for an Agreed Value of Aircraft in the amount of US$        [list amount calculated in accordance with Article ] 
 DEDUCTIBLE: 
 No deductible 

GEOGRAPHICAL LIMITS: 

Worldwide 

AIRCRAFT SPARES ALL RISKS INSURANCE 
 COVERING: 
 All risks of physical loss or damage to Aircraft Parts or spares
or Engines at all times when removed from the Aircraft from whatever cause, subject only to the exclusions specified below, including the risks set down in AVN 48B other than paragraphs (a) and (b) thereof (but including paragraph (a)
in respect of transit risks) for limits of not less than: 
 ***** any one location 

***** any one sending 
 and covering: 
 With respect to an Engine, replacement cost 

With respect to Parts, replacement cost 
 DEDUCTIBLE: 
 ***** each and every loss 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	122	  	EXHIBIT
		  	CERTIFICATE OF INSURANCE (FOR LESSOR)

 GEOGRAPHICAL COVERAGE: 
 Worldwide 
 CONTRACTUAL INDEMNITY 

LESSEE has insurance coverage for the indemnities agreed to by LESSEE pursuant to Article of the Lease 

PERIOD OF COVERAGE (ALL POLICIES) 
 From the Delivery Date of Aircraft to [EXPIRATION DATE] 
 It is further certified
that LESSOR has an interest in respect of the Aircraft under the Lease. Accordingly, with respect to losses occurring during the period from the Effective Date until the expiry of the Insurance or (except as provided in the next sentence) until the
expiry or agreed termination of the Lease or until the obligations under the Lease are terminated by any action of the Insured or LESSOR and in consideration of the Additional Premium it is confirmed that the Insurance afforded by the Policy is in
full force and effect and it is further agreed that the provisions set forth below are specifically endorsed to the Policy. Notwithstanding the foregoing, if LESSEE has retained care, custody and control of the Aircraft even after such expiry or
agreed termination of the Lease and LESSOR has not expressly agreed to insure the Aircraft, the Policy will remain in full force and effect until the earlier of expiry of the Insurance or the return of the Aircraft to LESSOR. 

1. UNDER THE HULL (ALL RISKS AND HULL WAR AND ALLIED RISKS) AND AIRCRAFT SPARES INSURANCES 

(a) [International Lease Finance Corporation ONLY-NO OTHER CONTRACT PARTIES] In respect of any claim on the Aircraft that becomes payable
on the basis of a Total Loss, settlement will be made to, or to the order of LESSOR as sole loss payee, up to the Agreed Value. With respect to repairable damage to an Aircraft or Engine, LESSOR will receive all insurance proceeds in excess of *****
provided that upon receipt by the insurance broker of written notice of a material default on the part of LESSEE, all insurance proceeds which otherwise would be payable to LESSEE will be made directly to LESSOR. In respect of any other claim,
settlement (net of any relevant policy deductible) will be made with such party(ies) as may be necessary to repair the Aircraft unless otherwise agreed after consultation between the Insurers and the Insured and, where necessary under the terms of
the Lease, LESSOR. Such payments will only be made provided they are in compliance with all applicable laws and regulations. 

(b) Insurers agree on a 50/50 settlement in terms of AVS 103. 

  
 ***** Confidential
portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 

  

					
		  	123	  	EXHIBIT
		  	CERTIFICATE OF INSURANCE (FOR LESSOR)

 (c) Insurers have no right to replace the Aircraft on a Total Loss (arranged, constructive
or otherwise). 
 (d) Insurers recognize that LESSEE and LESSOR have agreed that a Total Loss of the Airframe will constitute a
Total Loss of the Aircraft. 
 (e) In the event of a Total Loss of the Aircraft, Insurers agree to pay LESSOR all amounts up to
the Agreed Value based solely upon LESSOR’s (not LESSEE’s) execution of the appropriate form of release/discharge document. LESSOR may sign any required release in lieu of the Insured in the event of a Total Loss, Constructive Total Loss
or Arranged Total Loss. 
 (f) “Cut-through clause”: Insurers confirm that in the event of any claim arising under the
hull insurances, the Reinsurers will in lieu of payment of the Insurers, its successors in interest and assigns, pay to the person named as sole loss payee under the original insurances that portion of any loss due for which the Reinsurers would
otherwise be liable to pay the Insurers (subject to proof of loss), it being understood and agreed that any such payment by any Reinsurers will fully discharge and release such Reinsurer from any and all further liability in connection therewith and
provide for payment to be made notwithstanding any bankruptcy, insolvency, liquidation or dissolution of the Insurers and that the Insurers have made no payment under the original insurance policies. 

(g) Insurers confirm that under the insurance policies, if the Insured installs an engine owned by a third party on the Aircraft, either
the hull insurance will automatically increase to such higher amount as is necessary in order to satisfy both LESSOR’s requirement to receive the Agreed Value in the event of a Total Loss, Constructive Total Loss or Arranged Total Loss and the
amount required by the third party engine owner, or separate additional insurance on such engine will attach in order to satisfy separately the requirements of the Insured to such third party engine owner. 

2. UNDER THE LEGAL LIABILITY INSURANCE 
 (a) Subject to the provisions of this Endorsement, the Insurance will operate in all respects as if a separate Policy had been issued covering each party insured hereunder, but this provision will not
operate to include any claim arising howsoever in respect of loss or damage to the Aircraft insured under the Hull or Spares Insurance of the Insured. Notwithstanding the foregoing the total liability of Insurers in respect of any and all Insureds
will not exceed the limits of liability stated in the Policy. 
 (b) The Insurance provided hereunder will be primary and
without right of contribution from any other insurance which may be available to LESSOR or its successors and assigns. 

  

					
		  	124	  	EXHIBIT
		  	CERTIFICATE OF INSURANCE (FOR LESSOR)

 (c) LESSOR and its successors, assigns, directors, officers and employees will be covered
under LESSEE’s legal liability insurance for death or injury to LESSEE’s employees. 
 3. UNDER ALL INSURANCES

 (a) LESSOR, its successors and assigns, and (with respect to Aviation and Airline General Third Party Liability only) its
directors, officers and employees for their respective rights and interests, are included as Additional Insureds. 
 (b) The
cover afforded to LESSOR by the Policy in accordance with this Endorsement will not be invalidated by any act or omission (including misrepresentation and non-disclosure) of any other person or party which results in a breach of any term, condition
or warranty of the Policy. 
 (c) LESSOR will have no responsibility for premium and insurers will waive any right of set-off or
counterclaim against LESSOR except in respect of outstanding premium in respect of the Aircraft, provided that Insurer may only set-off for premiums against the proceeds of the hull insurance for outstanding premiums in connection with hull all
risks and hull war and allied perils insurance. 
 (d) Upon payment of any loss or claim to or on behalf of LESSOR, Insurers
will to the extent and in respect of such payment be thereupon subrogated to all legal and equitable rights of LESSOR indemnified hereby (but not against LESSOR). Insurers will not exercise such rights without the consent of those indemnified, such
consent not to be unreasonably withheld. At the expense of Insurers LESSOR will do all things reasonably necessary to assist the Insurers to exercise said rights. 
 (e) Except in respect of any provision for Cancellation or Automatic Termination specified in the Policy or any endorsement thereof, cover provided by this Endorsement may only be cancelled or materially
altered in a manner adverse to LESSOR by the giving of not less than thirty (30) days notice in writing to LESSOR. Notice will be deemed to commence from the date such notice is given by the Insurers. Such notice will NOT, however, be given at
normal expiry date of the Policy or any endorsement. 
 4. EXCEPT AS SPECIFICALLY VARIED OR PROVIDED BY THE TERMS OF THIS
CERTIFICATE 
 (a) LESSOR IS COVERED BY THE POLICY SUBJECT TO ALL TERMS, CONDITIONS, LIMITATIONS, WARRANTIES, EXCLUSIONS
AND CANCELLATION PROVISIONS THEREOF. 

  

					
		  	125	  	EXHIBIT
		  	CERTIFICATE OF INSURANCE (FOR LESSOR)

 (b) THE POLICY WILL NOT BE VARIED BY ANY PROVISIONS CONTAINED IN THE LEASE WHICH PURPORT TO
SERVE AS AN ENDORSEMENT OR AMENDMENT TO THE POLICY. 
 SUBJECT (save as specifically stated in this Certificate) to policy
terms, conditions, limitations and exclusions. 
  

	
	 Yours faithfully,

[BROKERS]

  

					
		  	126	  	EXHIBIT
		  	CERTIFICATE OF INSURANCE (FOR LESSOR)

	 	EXHIBIT D	BROKERS’ LETTER OF UNDERTAKING (FOR LESSOR) 

  

			
	Date:	  	Our Ref:

  

					
	 To:
	  	 INTERNATIONAL LEASE FINANCE CORPORATION
 10250 Constellation Boulevard, 34th Floor
 Los Angeles, California 90067,
U.S.A.

		
	 Re:
	  	 CONCESIONARIA

VUELA COMPANIA DE
 AVIACION, S.A. DE
C.V.

		  	 (“LESSEE”)
 Airbus A319-100

		  	Manufacturer’s Serial No.:	 	[            ]
		  	Registration Mark:	 	 [Aircraft registration mark, or
 to mark place] (the “Aircraft”)

 Dear Sirs: 
 We confirm that insurance has been effected for the account of [LESSEE] (the “Operator”) covering all aircraft owned or operated by them, including the above-referenced aircraft (the
“Aircraft”). [Also confirm, if applicable, the amount of any hull all risks or hull war and allied perils on the Aircraft which LESSEE is carrying in excess of the Agreed Value (which excess insurance would be payable to LESSEE).
Such excess insurance may not exceed ten percent (10%) of the Agreed Value.] 
 Pursuant to instructions received from the
Operator and in consideration of your approving the arrangement of the Operator’s “Fleet Policy” (under which the above-referenced Aircraft is insured) through the intermediary of ourselves as Brokers in connection with the insurance
(the “Insurance”) mentioned in our Certificate of Insurance (Reference No. [    ] dated
[                    ] and attached hereto), we undertake as follows: 
 1. In relation to the Hull and War Risks Insurance to hold to your order the insurance Slips or Contracts and any Policies which may be issued or any policies substituted (with your consent) therefor (but
only insofar as the same relate to the Aircraft only) and the benefit of the Hull and War Risks Insurance thereunder, but subject to our requirements to operate the Fleet Policy insofar as it relates to any other aircraft insured thereunder.

 2. As to you and your successors, assigns, directors, officers and employees, Operator’s active crew members are
considered “passengers”. 

  

					
		  	127	  	EXHIBIT
		  	BROKER’S LETTER OF UNDERTAKING (FOR LESSOR)

 3. To advise you of any of the following: 

(a) If any insurer or the Operator cancels or gives notice of cancellation of any of the Insurance at least
thirty (30) days (or such lesser period as may be available in the case of War and Allied Perils) before such cancellation is to take effect in respect of the Aircraft. 

(b) Of any act or omission or of any event (including non-payment of premium) of which we have knowledge or are notified
and which might invalidate or render unenforceable in whole or in part any of the Insurance, insofar as the same relate to the Aircraft. 
 (c) If we do not receive instructions to renew all or any of the Insurance at least thirty (30) days prior to their expiration. 

(d) If any of the Insurance are not renewed on the same terms (save as to premium and period of cover and as you might
otherwise have notified us to be acceptable to you) seven (7) days prior to expiry thereof. 
 The above undertakings are
given subject to our continuing appointment for the time being as Insurance Brokers to the Operator. 
 We also undertake to
advise you if we cease to be Insurance Brokers to the Operator. 
 Yours faithfully, 

  

					
		  	128	  	EXHIBIT
		  	BROKER’S LETTER OF UNDERTAKING (FOR LESSOR)

	 	EXHIBIT E	AVIATION AUTHORITY UNDERTAKING LETTER 

 [Date] 
  

			
	 To:
	  	 INTERNATIONAL LEASE FINANCE CORPORATION
 10250 Constellation Boulevard, 34th Floor
 Los Angeles, California 90067,
U.S.A.

 Dear Sirs: 
 We, the                      (the “Aviation Authority”) undertake that:

 1. No cancellation, alteration or change in the registration of the Aircraft or recordation of liens will be made until
receipt of written consent to such specified change from LESSOR. 
 2. On written request of LESSOR (which will include fax),
the Aviation Authority will promptly de-register the Aircraft and provide such confirmation as is requested by LESSOR together with any other confirmation or information LESSOR may require to enable the Aircraft to be re-registered in any other
country or state. 
 3. On written request of LESSOR (which will include fax) the Aviation Authority will release, remove or
cancel all liens it may have over the Aircraft, and will acknowledge in doing so that all liability for such liens as discharged are for the sole account of LESSEE. 
 4. The Aviation Authority will not allow the registration, use or operation of the Aircraft for any purpose other than the category of fare paying passenger transportation. 

5. The Aviation Authority will consent to the export of the Aircraft on the termination of the Lease Term or at LESSOR’S written
request. 
 Sincerely, 

  

					
		  	129	  	EXHIBIT
		  	AVIATION AUTHORITY UNDERTAKING LETTER

	 	EXHIBIT F	ESTOPPEL AND ACCEPTANCE CERTIFICATE 

 CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. (“LESSEE”), a company organized under the laws of Mexico does hereby represent, acknowledge, warrant and agree as follows:

 1. LESSEE and INTERNATIONAL LEASE FINANCE CORPORATION, (“LESSOR”) have entered into an Aircraft Lease
Agreement dated as of April 20, 2007 (hereinafter referred to as the “Lease”). Words used herein with capital letters and not otherwise defined will have the meanings set forth in the Lease. 

2. LESSEE has this      day of
                    ,              (Time:
            ) at received from LESSOR possession of: 
 (a) One (1) Airbus A319-100 aircraft bearing Manufacturer’s serial number [            ] and FAA registration mark [Aircraft
registration mark, or              to mark place], together with two (2) V2524-A5 engines bearing manufacturer’s serial numbers      and
     (each of which has 750 or more rated take-off horsepower) and an APU bearing part number              and manufacturer’s serial number
            , all in airworthy condition. 

(b) All Aircraft Documentation and information regarding the Aircraft, Engines, APU and Parts as per Attachment 1, Parts A
and B. 
 (c) The miscellaneous equipment per Attachment 2 and the LESSOR furnished equipment (BFE) per
Attachment 3. 
 3. The Aircraft had the following seating configuration at Delivery: 

             first
             business              coach 
 4. An auxiliary center tank (ACT) is / is not installed (circle one) at Delivery. 

If yes, quantity of auxiliary center tanks:              

5. Lower crew rest (LD-MCR) is / is not installed (circle one) at Delivery. 

6. The takeoff thrust rating of the Engines per the FAA type certificate data sheet is
             pounds. 

  

					
		  	130	  	EXHIBIT
		  	ESTOPPEL AND ACCEPTANCE CERTIFICATE

 7. The maximum gross takeoff weight of the Aircraft is
             (circle one) pounds/kilos. 
 8. The amount of
fuel on board at Delivery is:              pounds/gallons/kilos of fuel (circle one). 
 9. The Agreed Value of the Aircraft is US$        . 
 10. All of the foregoing has been delivered and accepted on the date set forth above to LESSEE’s full satisfaction and pursuant to the terms and provisions of the Lease. 

11. The Aircraft, Engines, APU, Parts and Aircraft Documentation as described in the Lease have been fully examined by LESSEE and have
been received in a condition fully satisfactory to LESSEE and in full conformity with the Lease in every respect. 
 12. The
Lease is in full force and effect, LESSOR has fully, duly and timely performed all of its obligations of every kind or nature thereunder and LESSEE has no claims, offsets, deductions, set-off or defenses of any kind or nature in connection with the
Lease. 
 13. LESSOR’s Lender may rely upon all of the foregoing in granting substantial financial accommodations to LESSOR
and LESSEE understands and agrees that any funds being advanced by LESSOR’s Lender will be made in reliance upon the foregoing. 
 14. LESSEE has obtained all required permits, authorizations, licenses and fees of the State of Registration or any Government Entity thereof necessary in order for LESSEE to operate the Aircraft as
permitted by the terms of the Lease. 
  

					
	Dated on the date set forth above
		
		 	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
			
		 	By:	 	  

		 	Printed Name:	 	  

		 	Title:	 	  

 ATTACHMENTS: 
  

	1.	List of Aircraft Documentation 

Part A - Manufacturer’s List of Documents for Delivery 
 Part B - Manufacturer’s Documentation Status List (Manufacturer’s “Exhibit G”) 
  

	2.	Miscellaneous Equipment List 

  

	3.	BFE List 

  

					
		  	131	  	EXHIBIT
		  	ESTOPPEL AND ACCEPTANCE CERTIFICATE

	 	EXHIBIT G	OPINION OF COUNSEL 

 TO BE GIVEN BY
INDEPENDENT OUTSIDE COUNSEL OF LESSEE OR OTHER LAWYERS ACCEPTABLE TO LESSOR 
  

	To:	International Lease Finance Corporation 

 10250 Constellation Boulevard, 34th Floor 
 Los Angeles, California 90067, U.S.A.

 Gentlemen: 
 This
opinion is furnished to you pursuant to Article of the Aircraft Lease Agreement dated as of April 20, 2007 (the “Lease”) between CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. (“LESSEE”) and
INTERNATIONAL LEASE FINANCE CORPORATION (“LESSOR”). Defined terms in this opinion are used herein as defined in the Lease. 
 I have acted as counsel for LESSEE in connection with the preparation, execution and delivery of the Lease. 
 In that connection I have examined each of the following: 
 (a) The
Lease and Side Letters thereto, the Estoppel and Acceptance Certificate and the power of attorney provided by LESSEE in which, among other things, LESSEE authorizes LESSOR to take action in LESSEE’s name to deregister the Aircraft after
termination of the Lease due to an Event of Default under the Lease or for termination of the Lease due to any other reason (together, the “Lease Documents”); 

(b) The charter of LESSEE and all amendments thereto; 

(c) Such other documents, agreements and instruments, and such treaties, laws, rules, regulations, decrees and the like,
as I have deemed necessary as a basis for the opinions hereinafter expressed. 

[                (d) All of the agreements and any amendments thereto
between LESSEE and all other lessors and lenders of LESSEE covering other aircraft operated by LESSEE on which the Engines can be installed.] 

  

					
		  	132	  	EXHIBIT
		  		  	OPINION OF COUNSEL

 Based upon the foregoing and having regard for legal considerations which I deem relevant, I am of the
opinion that: 
 1. LESSEE is a company validly existing and in good standing under the Laws of Mexico. It has the power and
authority to carry on its business as presently conducted and to perform its obligations under the Lease Documents. 
 2. No
authorization, approval, consent, license or order of, or registration with, or the giving of notice to the Aviation Authority or any other regulatory body or authority is required for the valid authorization, execution, delivery and performance by
LESSEE of the Lease Documents. 
 3. The Lease Documents have each been duly authorized, executed and delivered by LESSEE. Each
such instrument is a valid and binding obligation of LESSEE, enforceable in accordance with its terms except as enforceability may be limited by bankruptcy, insolvency, reorganization or other Laws of general application affecting the enforcement of
creditors’ rights. 
 4. The execution and delivery of the Lease Documents, the consummation by LESSEE of the transactions
contemplated therein and compliance by LESSEE with the terms and provisions thereof do not and will not contravene any Law applicable to LESSEE, or result in any breach of or constitute any default under or result in the creation of any lien, charge
or encumbrance upon any property of LESSEE, under any indenture, mortgage, chattel mortgage, deed of trust, conditional sales contract, bank loan or credit agreement, charter, by-law or other agreement or instrument to which LESSEE is a party or by
which LESSEE or its properties or assets may be bound or affected. 
 5. [Describe the process in the U.S. with respect to
registration of the Aircraft in the name of LESSOR and any other steps required or recommended in the U.S. in order to protect the interests of LESSOR in the Aircraft]. Such registration of the Aircraft is not inconsistent with, and would not result
in the loss of, LESSOR’s title to and ownership of the Aircraft. Except for the foregoing, no other filing or recording of any instrument or document or any other acts are necessary or advisable under the Laws of the U.S. to protect
LESSOR’s title to and ownership of the Aircraft. [In the opinion given at Delivery, also confirm that the Aircraft is registered in the name of LESSOR.] 
 6. Except for any filing or recording that may be required with the [NAME OF AIRCRAFT REGISTER] and except for [DESCRIBE SUCH OTHER FILINGS OR RECORDINGS, INCLUDING WITH THE INTERNATIONAL REGISTRY], no
filing or recording of any instrument or document (including the filing of any financial statement) is necessary under the Laws of Mexico in order for the Lease to constitute a valid and perfected lease of record relating to the Aircraft, it being
understood that such counsel expresses no opinion as to the nature of LESSOR’s title to the Aircraft on the Delivery Date. [In opinion given at Delivery, also confirm that the filings and other steps described have been accomplished.]

  

					
		  	133	  	EXHIBIT
		  		  	OPINION OF COUNSEL

 7. Except for [DESCRIBE ANY TRANSLATION, NOTARIZATION OR OTHER REQUIREMENTS], none of the
Lease Documents needs to be translated, notarized, legalized, apostilled or consularized as a condition to the legality, validity, filing, enforceability or admissibility in evidence thereof. Each of the Lease Documents is in a proper form under the
Laws of Mexico for enforcement or admission thereof into evidence in Mexico, without any further action on the part of any party other than the commencement of court proceedings in Mexico. 

8. LESSEE will not be required to obtain any licenses for importation and ferrying of the Aircraft into Mexico. LESSEE has complied with
all import and customs formalities in Mexico with respect to the Aircraft. 
 9. LESSEE holds all licenses, certificates and
permits from applicable governmental authorities in Mexico necessary for the conduct of its business as a certificated air carrier and performance of its obligations under the Lease Documents. 

10. To my knowledge, there are no suits or proceedings pending or threatened against LESSEE before any Government Entity against or
affecting LESSEE which, if adversely determined, would have a material adverse effect on the financial condition or business of LESSEE or its ability to perform under the Lease Documents, except as described in the filings provided to LESSOR
pursuant to Article of the Lease. 
 11. Under the Laws of Mexico, LESSEE will not be required to make or deduct any withholding
or other Tax from any payment it may make under the Lease Documents. 
 12. The obligations of LESSEE under the Lease Documents
are direct, general and unconditional obligations of LESSEE and rank or will rank at least pari passu with all other present and future unsecured and unsubordinated obligations (including contingent obligations) of LESSEE, with the
exception of such obligations as are mandatorily preferred by law. 
 13. LESSEE, under the Laws of Mexico or of any other
jurisdiction affecting LESSEE, is subject to private commercial law and suit. Neither LESSEE nor its properties or assets have the right of immunity from suit or execution on the grounds of sovereignty in such jurisdictions and the performance by
LESSEE of its obligations under the Lease Documents constitute commercial acts done for commercial purposes. 
 14. On
termination of the Lease, LESSOR would be entitled to repossess the Aircraft and, without additional fees or duties, export it from Mexico. 
 15. Neither LESSEE nor LESSOR is required by the Laws of Mexico to obtain any approval, license or consent (including without limitation any exchange control approval) in order to remit to LESSOR of any
amount payable under the Lease Documents. 

  

					
		  	134	  	EXHIBIT
		  		  	OPINION OF COUNSEL

 16. There is no applicable usury or interest limitation Law in Mexico which may restrict the
recovery of payments in accordance with the Lease Documents. 
 17. LESSOR will not violate any Law or become liable to any tax
in Mexico by reason of entering into or performing its obligations under the Lease Documents and it is not necessary to establish a place of business in Mexico in order to enforce any provisions of the Lease Documents. 

18. The choice of California Law to govern the Lease Documents will be upheld in any action in the courts of Mexico. Any judgment given
by the United States or California courts would be recognized and accepted by the courts in Mexico. 
 19. [DESCRIBE STATUS OF
CAPE TOWN CONVENTION IN COUNTRY], for example: 
 Mexico has ratified the Convention on International Interests in Mobile
Equipment and the Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment which were adopted on November 16, 2001 at a diplomatic conference held in Cape Town, South Africa (commonly
known as the “Cape Town Convention”)] [without any reservations or declarations in respect thereto OR with the following reservations and declarations in respect thereto] and the Lease and the other Operative Documents and the rights
created thereby are valid, legal and binding thereunder and conform to the terms and conditions thereof. 
 or 

Mexico[is not] [is] a signatory of, [and] [but] has not yet ratified, the Convention on International Interests in Mobile Equipment and
the Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment. [describe the ratification process and status of ratification in Mexico] 

Very truly yours, 

  

					
		  	135	  	EXHIBIT
		  		  	OPINION OF COUNSEL

	 	EXHIBIT H	FORM OF POWER OF ATTORNEY 

CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. (“Volaris”) hereby irrevocably appoints INTERNATIONAL LEASE FINANCE CORPORATION
(“ILFC”), a corporation located in Los Angeles, California, U.S.A., as Volaris’s true and lawful attorney so that ILFC may take any of the following actions in the name of and for Volaris with respect to the Airbus A319-100
aircraft bearing manufacturer’s serial number (MSN of Aircraft, if known} (the “Aircraft”) leased by ILFC to Volaris pursuant to an Aircraft Lease Agreement dated as of April 20, 2007 (the “Lease”):

 1. Pursuant to the Lease, Volaris has procured and is maintaining insurances for the Aircraft. ILFC has been named sole loss
payee on the all risk hull and war risk insurances for the Aircraft. In the event of a total loss or constructive total loss of the Aircraft, ILFC is entitled to receive insurance proceeds in an amount specified in Article of the Lease, a copy of
which is attached. ILFC may take all action and sign all documents otherwise required to be performed by Volaris, including execution on behalf of Volaris of an appropriate form of discharge/release document, in order for ILFC to collect such
insurance proceeds. 
 2. In the exercise of the rights of ILFC under the Lease to recover the Aircraft from Volaris and Mexico
after termination of the Lease due to an Event of Default under the Lease or for termination of the Lease due to any other reason, ILFC may take all action otherwise required to be performed by Volaris before the authorities and courts in Mexico in
order to cause the Aircraft to be repossessed by ILFC, deregistered from the [NAME OF REGISTRY] and exported from Mexico. 
 3.
In the exercise of the rights mentioned in paragraphs 1 and 2, ILFC may make any declarations or statements and sign any public or private documents which may be considered necessary or appropriate. 

4. ILFC may delegate the powers conferred hereby, in whole or in part, to any individual(s), including but not limited to employees of
ILFC or legal counsel in Mexico. 
 ILFC is empowered to determine in its sole discretion when to exercise the powers conferred
upon ILFC pursuant to this Power of Attorney. Any person, agency or company relying upon this Power of Attorney need not and will not make any determination or require any court judgment as to whether an Event of Default has occurred under the Lease
or whether the Lease has been terminated. Volaris hereby waives any claims against any person acting on the instructions given by ILFC or its designee pursuant to this Power of Attorney and any person designated by ILFC or an officer of ILFC to give
instructions pursuant to this Power of Attorney. Volaris also agrees to indemnify and hold harmless any person, agency or company which may act in reliance upon this Power of Attorney and pursuant to instructions given by ILFC or its designee.

  

					
		  	136	  	EXHIBIT
		  		  	FORM OF POWER OF ATTORNEY

 This Power of Attorney is irrevocable until the Aircraft has been returned to the possession
of ILFC, deregistered and exported from Mexico. 
 Volaris has made and delivered this Power of Attorney on
             in             . 

 

					
	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
			
		 	By:	 	  

		 	Printed Name:	 	  

		 	Title:	 	  

  

					
		  	137	  	EXHIBIT
		  		  	FORM OF POWER OF ATTORNEY

	 	EXHIBIT I	FORM OF CAPE TOWN POWER OF ATTORNEY 

 Form of Irrevocable Deregistration and Export Request Authorization 
 (Annex
referred to in Article 25 of the consolidated text of the Cape Town Convention) 
 [Date] 

 

	To:	[name of Registry Authority] 

  

	Re:	Irrevocable Deregistration and Export Request Authorization 

 The undersigned is the registered operator of the Airbus A319-100 aircraft bearing manufacturer’s serial number [            ] and
FAA registration mark [Aircraft registration mark, or              to mark place] (together with all installed, incorporated or attached accessories, parts and equipment, the
“Aircraft”). 
 This instrument is an irrevocable deregistration and export request authorization issued by the
undersigned in favor of International Lease Finance Corporation as lessor (the “Authorized Party”) under the authority of Article XIII of the Protocol to the Convention on International Interests in Mobile Equipment on Matters
specific to Aircraft Equipment. In accordance with that Article, the undersigned hereby requests: 
 (a) recognition that the
Authorized Party or the person it certifies as its designee is the sole person entitled to: 
 (1) procure the deregistration of
the Aircraft from the [insert name of aircraft register] maintained by [name of Registry Authority] for the purposes of Chapter III of the Convention on International Civil Aviation, signed at Chicago, on 7 December 1944; and

 (2) procure the export and physical transfer of the Aircraft from [insert country]; and 

(b) confirmation that the Authorized Party or the person it certifies as its designee may take the action specified in clause (a)
above on written demand without the consent of the undersigned and that, upon such demand, the authorities in [insert country] shall cooperate with the Authorized Party with a view to the speedy completion of such action. 

The rights in favor of the Authorized Party established by this instrument may not be revoked by the undersigned without the written
consent of the Authorized Party. 
 Please acknowledge your agreement to this request and its terms by the appropriate notation
in the space provided below and lodge this instrument in the aircraft registry maintained 

  

					
		  	138	  	EXHIBIT
		  	FORM OF CAPE TOWN POWER OF ATTORNEY

 by [name of Registry Authority]. 

 

					
	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
			
		 	By:	 	  

			
		 	Printed Name:	 	  

			
		 	Title:	 	  

			
		 	Date:	 	  

 Agreed to and lodged on the date specified below. 

 

			
	[NAME OF REGISTRY AUTHORITY]
		
	By:	 	  

		
	Its:	 	  

		
	Date:	 	  

  

					
		  	139	  	EXHIBIT
		  	FORM OF CAPE TOWN POWER OF ATTORNEY

	 	EXHIBIT J	ASSIGNMENT OF RIGHTS (AIRFRAME) 

 This Assignment of Rights is made this      day of                     ,
             (the “Assignment Agreement”) 

BETWEEN 
  

	(1)	INTERNATIONAL LEASE FINANCE CORPORATION, a corporation organized and existing under the laws of the State of California, United States of America, having its principal
corporate offices located at 10250 Constellation Boulevard, 34th Floor, Los Angeles, California 90067, U.S.A. (“ILFC”); and 

  

	(2)	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V., a Mexican company whose principal place business is at Prolongacion Paseo de la Reforma No. 490, Piso 1
(Edificio GE), Santa Fe Pena Blanca, Del. Alvaro Obregon, Mexico, D.F., Mexico 01210 (“LESSEE”) 

1. Preamble. In connection with the lease by ILFC to LESSEE of one new Airbus A319-100 model aircraft bearing
manufacturer’s serial number [            ] (the “Aircraft”), reference is made to the following documents: 

(a) the Airbus A319-100 Purchase Agreement between ILFC and AVSA S.A.R.L. (now Airbus S.A.S., legal successor to AVSA,
S.A.R.L.) (“AIRBUS”) dated as of June 17, 2001, as further amended (the “Purchase Agreement”), under which ILFC agreed to purchase the Aircraft; 

(b) the General Terms Agreement between ILFC and AIRBUS dated as of November 10, 1988, as further amended (the
“G.T.A.”); 
 (c) the Product Support Agreement set forth in Exhibit E to the G.T.A. (the
“Support Agreement”); 
 (d) the Aircraft Lease Agreement between ILFC and LESSEE dated as of
April 20, 2007 (the “Lease Agreement”); and 
 (e) the Participation Agreement between ILFC
and LESSEE dated as of                          ,
             (the “Participation Agreement”). 
 2. Assignment. Pursuant to the Lease Agreement, ILFC will lease the Aircraft to LESSEE, including in such Lease Agreement a commitment to assign to LESSEE certain warranty and other rights
related to the Aircraft under the Purchase Agreement, the G.T.A. and the Support Agreement. With effect from the date hereof, ILFC therefore hereby assigns to LESSEE and LESSEE accepts the assignment on the terms and conditions specified herein of
the following rights (the “Rights”) under the provisions indicated (the “Assigned Provisions”) with respect to the Aircraft: 
 (a) the benefit of the rights with respect to the Aircraft under Clause 12 (Warranties and Service Life Policy) of the G.T.A.; and 

  

					
		  	140	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (AIRFRAME)

 (b) the rights with respect to the Aircraft under Clause 13 (Patent
Indemnity) of the G.T.A.; and 
 (c) the benefit of the remaining rights with respect to the Aircraft under
Clause 15 of the Support Agreement as set forth in paragraph 1(c) of the Participation Agreement; and 
 (d)
the benefit of the remaining part of the product support allowance as set forth in paragraph 1(d) of the Participation Agreement. 
 3. Conditions of Assignment. This Assignment Agreement is made subject to the following conditions: 
 (a) LESSEE hereby agrees to be bound by and to comply with all applicable terms, conditions and limitations with respect to the Rights under the Assigned Provisions of the Support Agreement including,
without limitation, Clauses 16.9 and 18.5 thereof and Clauses 12 and 13 of the G.T.A. including, without limitation, Clauses 12.5 and 12.6 thereof (copies of which are attached hereto), with respect to the exercise of any of the
Rights and to be bound by the covenants of the “Buyer” in the Assigned Provisions to the same extent as if LESSEE had been named “Buyer” of the Aircraft under the Purchase Agreement. 

(b) Nothing contained herein shall subject AIRBUS to any liability or additional obligations whatsoever to which it would
not otherwise be subject under the Purchase Agreement, the G.T.A. and the Support Agreement or, except to the extent set forth in section 3(c) below, modify in any respect whatsoever its contractual rights under the said agreements. 

(c) So long as the Lease Agreement is in full force and effect, LESSEE and not ILFC will be responsible for compliance
with the Assigned Provisions of (i) the Support Agreement including, without limitation, Clauses 16.9 and 18.5 thereof and (ii) Clauses 12 and 13 of the G.T.A. including, without limitation, Clauses 12.5 and 12.6 thereof,
with respect to the Aircraft. Upon termination of the Lease Agreement and/or upon definitive repossession of the Aircraft by ILFC, and provided that ILFC shall have furnished AIRBUS with written notice thereof, ILFC shall once again be bound by such
clauses with respect to the rights and benefits described in section 2 above received by ILFC in connection with the Aircraft. 
 (d) Other than with respect to the obligations assumed by LESSEE under this Assignment Agreement as set forth in sections 3(a) and 3(c) above, ILFC shall remain fully bound by all provisions of the
Purchase Agreement, the G.T.A. and the Support Agreement. 

  

					
		  	141	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (AIRFRAME)

 4. Reassignment. Upon termination of the Lease Agreement and/or definitive
repossession of the Aircraft by ILFC, and provided that ILFC shall have furnished AIRBUS with written notice thereof, upon receipt of such notice by AIRBUS, the remaining rights contained herein shall automatically be reassigned to ILFC. AIRBUS can
rely on such notice without further inquiry. 
 5. Assignment by LESSEE. The rights of ILFC and LESSEE under this
Assignment Agreement in respect of the Purchase Agreement, the G.T.A. and the Support Agreement shall not be further assigned by the parties hereto. 
 6. Notification 
 (a) This Assignment Agreement
shall, at the expense of LESSOR, be notified to AIRBUS within 2 weeks of the date hereof pursuant to Article 1690 of the French Civil Code. 
 (b) All notices and requests required or authorized under this Assignment Agreement shall be given in writing either by personal delivery to a responsible officer of the party to whom the same is given or
by internationally recognized courier service or by telefax directed as set forth below: 
  

					
	ILFC shall be addressed at:
		 	 10250 Constellation Boulevard, 34th Floor
 Los Angeles, California 90067, U.S.A.

			
		 	Attention:	  	Senior Vice President-Technical
			
		 	Fax:	  	310-788-1990
		 	Telephone:	  	310-788-1999

  

					
		  	142	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (AIRFRAME)

					
	LESSEE shall be addressed at:
	
	 CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
 Prolongación Paseo de la Reforma #490
 Piso 1 (Edificio GE)

Col. Santa Fe Peña Blanca
 Del.
Álvaro Obregón
 01012 México, D.F.
 México
  

		 	 Attention:
	  	Finance Director
			
		 	 Fax:
	  	[            ]
		 	 Telephone:
	  	[            ]
	
	AIRBUS shall be addressed at:
		 	 1 Rond-Point Maurice Bellonte

31707 Blagnac, CEDEX, France

			
		 	Attention:	  	VP, Contracts Administration & Delivery Transactions
			
		 	Fax:	  	(33) 5.61.93.41.95
		 	Telephone:	  	(33) 5 61 93 32 16

 or at such other address or to such other person as the party receiving the notice or request may
designate from time to time. 
 Such notice or request shall be deemed to be effective in the case of (aa) personal delivery, on
the date upon which personally delivered, (bb) delivery by courier, on the date of receipt or (cc) telefax transmission, on the date of confirmation of successful transmission. 

7. Consent of AIRBUS. It shall be a condition to the validity of this Assignment Agreement that AIRBUS execute a Consent
substantially in the form set forth in Schedule 1 hereto. 
 8. Applicable Law and Jurisdiction. THIS ASSIGNMENT
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CHOICE OF LAW, AND THE PARTIES AGREE THAT ANY COMPETENT FEDERAL COURT LOCATED IN NEW YORK, NEW YORK SHALL HAVE
JURISDICTION OVER ANY DISPUTE ARISING IN CONNECTION HEREWITH. Nothing in this section will prevent either party from making a claim in a court of competent jurisdiction in California or, if AIRBUS is involved, France. 

9. Confidentiality. Subject to any legal or governmental requirements of disclosure, ILFC and LESSEE shall keep
confidential the terms and conditions of this Assignment Agreement and the clauses from the G.T.A. and the Support Agreement provided to LESSEE pursuant to this Assignment Agreement. 

  

					
		  	143	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (AIRFRAME)

 IN WITNESS WHEREOF, the parties have caused this Assignment Agreement to be executed
on their behalf by their duly authorized representatives. 
  

									
	INTERNATIONAL LEASE FINANCE CORPORATION	 		 	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
					
	By:	 	  
	 		 	By:	 	  

					
	Its:	 	  
	 		 	Its:	 	  

  

					
		  	144	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (AIRFRAME)

 SCHEDULE 1 
 [DATE] 
  

	Re:	LFC/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. (“LESSEE”): ASSIGNMENT OF RIGHTS FOR AIRBUS A319-100 AIRCRAFT MSN
[            ] 

 Dear Sirs, 

 

	1.	Reference is made to the Assignment of Rights dated
                         ,              between
ILFC and LESSEE (the “Assignment Agreement”) concerning the assignment of certain warranty rights under the Purchase Agreement and the G.T.A. and certain customer support rights under the Support Agreement with respect to the
Aircraft. 

  

	2.	All terms defined herein bear the meaning ascribed hereto in the Assignment Agreement. 

 

	3.	AIRBUS hereby consents to the assignment and reassignment contained in sections 2 and 4 respectively of the Assignment Agreement on the terms and conditions
therein, subject to the following conditions: 

 (a) AIRBUS shall have received formal notification
of the Assignment Agreement within two weeks of the date hereof pursuant to Article 1690 of the French Civil Code. 
 (b) Nothing contained in the Assignment Agreement shall subject AIRBUS to any liability or additional obligations whatsoever to which it would not otherwise be subject under the Purchase Agreement, the
G.T.A. and the Support Agreement or, except to the extent set forth in subparagraph 3(c) below, modify in any respect whatsoever its contractual rights under the said agreements. 

(c) So long as the Lease Agreement is in full force and effect, LESSEE and not ILFC will be responsible for compliance
with the Assigned Provisions of (i) the Support Agreement including, without limitation, Clauses 16.9 and 18.5 thereof and (ii) Clauses 12 and 13 of the G.T.A. including, without limitation, Clauses 12.5 and 12.6 thereof,
with respect to the Aircraft. Upon termination of the Lease Agreement and/or upon definitive repossession of the Aircraft by ILFC, and provided that ILFC shall have furnished AIRBUS with written notice thereof, ILFC shall once again be bound by such
clauses with respect to the rights and benefits described in section 2 of the Assignment Agreement received by ILFC in connection with the Aircraft. 
 (d) LESSEE hereby agrees to be bound by and to comply with all applicable terms, conditions and limitations with respect to the Rights under the Assigned Provisions of (i) the Support Agreement
including, without limitation, Clauses 16.9 and 18.5 thereof and (ii) Clauses 12 and 13 of the G.T.A including, without limitation, Clauses 12.5 and 

  

					
		  	145	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (AIRFRAME)

 
12.6 thereof, with respect to the exercise of any of the Rights and to be bound by the covenants of the “Buyer” in the Assigned Provisions to the same extent as if LESSEE had been named
“Buyer” of the Aircraft under the Purchase Agreement. 
 (e) Other than with respect to the obligations
assumed by LESSEE under the Assignment Agreement as set forth in sections 3(a) and 3(c) of the Assignment Agreement, ILFC shall remain fully bound by all provisions of the Purchase Agreement, the G.T.A. and the Support Agreement. 

 

	4.	This Consent shall be governed by and construed in accordance with the laws of the State of New York and any dispute arising hereunder shall be referred to the federal
court located in New York, New York. Nothing in this clause will prevent any party from making a claim in a court of competent jurisdiction in California or France. 

 

	5.	Subject to any legal or governmental requirements of disclosure, ILFC and LESSEE shall keep confidential the terms and conditions of this AIRBUS Consent and the
Assignment Agreement and the clauses from the G.T.A. and the Support Agreement provided to LESSEE pursuant to the Assignment Agreement. 

 

			
	For and on behalf of AIRBUS S.A.S.
		
	By:	 	  

	Title:	 	  

	Date:	 	  

  

									
	Signed in acknowledgement for and on behalf of	 		 	Signed in acknowledgement for and on behalf of
			
	INTERNATIONAL LEASE FINANCE CORPORATION	 		 	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
					
	By:	 	  
	 		 	By:	 	  

					
	Its:	 	  
	 		 	Its:	 	  

  

					
		  	146	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (AIRFRAME)

	 	EXHIBIT K	ASSIGNMENT OF RIGHTS (ENGINES) 

 ASSIGNMENT AGREEMENT 
 This Agreement is made this
     day of                     , 20    . 

AMONG: 
  

			
	INTERNATIONAL LEASE FINANCE CORPORATION	  	a corporation whose place of business is at 10250 Constellation Boulevard, 34th Floor, U.S.A (hereinafter called “Lessor”) of the first part;
and
		
	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.	  	a corporation whose place of business is at [            ] (hereinafter called “Lessee”) of the
second part; and
		
	IAE INTERNATIONAL AERO ENGINES AG	  	a joint stock company organized and existing under the laws of Switzerland whose principal place of business is at IAE Building, 400 Main Street, M/S 121-10, East Hartford,
Connecticut 06108 (hereinafter called “IAE”) of the third part.

 WHEREAS: 
  

	A.	Lessor owns Airbus A319-100 type aircraft which are equipped with IAE V2500 engines. 

 

	B.	Lessor proposes to lease or has leased to Lessee one Airbus A319-100 aircraft, bearing manufacturer’s serial number
[            ], equipped with two (2) IAE V2524-A5 engines bearing manufacturer’s serial numbers
[            ] and [            ] (the “Engines”). 

 

	C.	Lessor and IAE are parties to a V2500 General Terms of Sale Agreement referenced IAE/ILFC dated December 9, 1992 (which together with the Exhibits and Side
Letters thereto, as amended and supplemented from time to time, is hereinafter referred to as the “Support Contract”) for the sale and support by IAE and the purchase by Lessor of those items defined in the Support Contract
and hereinafter referred to as “Supplies”. 

 In the Support Contract, Lessor is referred
to as “ILFC”. 
  

	D.	Lessee wishes to take an assignment of certain rights and obligations of Lessor under the Support Contract and Lessor is willing to give and IAE is willing to consent
to such assignment as hereinafter provided. 

  

					
		  	147	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (AIRFRAME)

 NOW THEREFORE IT IS AGREED AS FOLLOWS: 

 

	CLAUSE 1	DEFINITIONS 

 Terms
used in this Agreement shall have the same meanings as those given to them in the Support Contract except as otherwise noted. 
  

	CLAUSE 2	ASSIGNMENT 

Subject to all other clauses of this Agreement and for as long as the lease agreement between Lessor and Lessee has not been terminated:

  

							
	2.1  	 	With respect to the Engines leased by Lessor to Lessee, Lessor hereby assigns and transfers to Lessee all of the rights and interest of Lessor under the following
portions of the Support Contract (the “Assigned Rights”):
				
		 	2.1.1  	 	Clause 1	  	Definitions - with the exception of subclauses 1.4, 1.7 and 1.8
				
		 		 	Clause 3	  	Spare Parts Provisions with the exception of subclause 3.13.1
				
		 		 	Clause 4	  	Warranties, Guarantees and Liabilities
				
		 		 	Clause 5	  	Product Support Services
				
		 		 	Clause 6	  	Miscellaneous
				
		 	2.1.2	 	Exhibit A	  	Support Contract Specification
				
		 		 	Exhibit C	  	Product Support
				
		 		 	Exhibit D	  	Warranties, Guarantees & Plans
		
		 	Such portions of the Support Contract as are hereby assigned have been previously provided to Lessee by Lessor, and Lessee hereby acknowledges receipt of the
same.
		
	2.2	 	Lessee hereby assumes and accepts the assignment and transfer of the Assigned Rights of Lessor as provided for in Clause 2.1 above and agrees to accept all of the
limitations, obligations and liabilities contained in the Support Contract relating to the Assigned Rights.
		
	2.3	 	IAE hereby consents to the assignment and transfer to Lessee of all of the Assigned Rights of Lessor as provided in Clause 2.1 above and agrees that it will allow
Lessee to exercise in its own name all of the Assigned Rights of Lessor.
		
	2.4	 	References in the Support Contract to Lessor (whether as “ILFC”, “Airline”, “Operator” or otherwise) shall, with respect to the Assigned
Rights, include Lessee except where the context requires otherwise.

  

					
		  	148	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (ENGINE)

	CLAUSE 3	PAYMENT FOR SPARE PARTS 

 Notwithstanding Clause 2 above, payment for all purchases by Lessee shall be due upon delivery or, at IAE’s option, prior to delivery of the purchased items upon the occurrence of any of the
following events: (a) a receiver or trustee is appointed on any of Lessee’s property, or (b) Lessee is adjudicated or voluntarily becomes bankrupt under any bankruptcy or winding-up laws or other similar legislation, or
(c) Lessee becomes insolvent or makes an assignment for the benefit of creditors, or (d) an execution is issued pursuant to a judgment rendered against Lessee, or (e) Lessee is unable or refuses to make payment to IAE in accordance
with any of Lessee’s obligations to IAE. 
  

	CLAUSE 4	LAW 

 This
Agreement shall be governed by and construed in accordance with the laws of New York, U.S.A. (other than its rules of conflicts of laws). 
  

	CLAUSE 5	AMENDMENT 

  

	 	5.1	This Agreement shall not be amended in any way other than by agreement in writing executed by all of the parties hereto after the date of this Agreement, which is
expressly stated to amend this Agreement. All future amendments to the Support Contract with respect to the Assigned Rights shall not require the written approval of Lessee except in such cases where Lessee’s rights or obligations are impacted.
Any amendment in violation of this clause shall be null and void. 

  

	 	5.2	This Agreement shall not be amended or terminated orally. 

  

	CLAUSE 6	FURTHER ASSIGNMENT 

Lessee shall not be entitled to further assign or transfer the Assigned Rights without the prior written consent of IAE. 

 

	CLAUSE 7	COUNTERPARTS 

 This
Agreement may be executed in one or more counterparts, each of which when so executed and delivered shall be an original and each counterpart shall constitute one and the same instrument. 

  

					
		  	149	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (ENGINE)

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be signed on their behalf by the
hands of their authorized officers the day and year first before written: 
  

									
	FOR:	 		 	FOR:
	INTERNATIONAL LEASE FINANCE CORPORATION	 		 	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V
					
	By:	 	  
	 		 	By:	 	  

					
	Its:	 	  
	 		 	Its:	 	  

  

			
	 FOR:
 IAE
INTERNATIONAL AERO
 ENGINES AG

		
	By:	 	  

		
	Its:	 	  

  

					
		  	150	  	EXHIBIT
		  	ASSIGNMENT OF RIGHTS (ENGINE)

	 	EXHIBIT L	RETURN ACCEPTANCE RECEIPT 

 Date:

 1. CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. (“LESSEE”) and INTERNATIONAL LEASE FINANCE
CORPORATION (“LESSOR”) have entered into an Aircraft Lease Agreement dated as of April 20, 2007 (the “Lease”). Words used herein with capital letters and not otherwise defined will have the meanings set forth
in the Lease. 
 2. LESSOR has this      day of
                    ,             
(Time:            ) at                      received from LESSEE possession
of: 
 (a) One (1) Airbus A319-100 Aircraft bearing Manufacturer’s serial number {MSN of Aircraft, if
known}, together with two (2) V2524-A5 Engines bearing manufacturer’s serial numbers             
and            , an APU bearing manufacturer’s serial number             , and all Parts attached thereto and
thereon in an airworthy condition and 
 (b) All Aircraft Documentation, including the usual and customary
manuals, logbooks, flight records and historical information regarding the Aircraft, Engines, APU and Parts, as listed in the Document Receipt attached hereto. 
 3. The Aircraft had the following seating configuration at return: 

             first
                     business
                     coach 
 4. An auxiliary center tank (ACT) is / is not installed (circle one) at return. 

If yes, quantity of auxiliary center tanks:              

5. Lower crew rest (LD-MCR) is / is not installed (circle one) at return. 

6. A Thales Avionics Integrated Standby Flight Display (ISFD)/Integrated Standby Instrument System (ISIS) was / was not installed (circle
one) in the Aircraft by LESSEE during the Lease Term (applicable only if Thales ISFD/ISIS was not installed at Delivery). 
 7. The Airframe, Engines, APU and Parts had the following hours/cycles at return: 
  

	 	(a)	Airframe: 

 Maximum gross
takeoff weight:              pounds/kilos (circle one) 

  

					
		  	151	  	EXHIBIT
		  		  	RETURN ACCEPTANCE RECEIPT

 Total hours:             
Total cycles:              
  

	 	(b)	Operating thrust of Engines at return: 

                      pounds 

 

	 	(c)	Engine #1 Information: 

  

							
	  	  	 Serial No
	  	 Total Hours
	  	 Total Cycles

				
	ENGINE #1	  		  		  	

  

									
	 ENGINE #1 MODULES
	  	 Total

Hours
	  	 Total

Cycles
	  	 Hours since
 last Module
 Performance

Restoration
	  	 Cycles since
 last Module
 Performance

Restoration

					
	Low Pressure Compressor and Gearbox	  		  		  		  	
	High Pressure Compressor/Diffuser	  		  		  		  	
	High Pressure Turbine/Nozzle/Combustor	  		  		  		  	
	Low Pressure Turbine	  		  		  		  	

  

					
	 ENGINE #1 LIFE-LIMITED PART NAME
	  	 Part

number
	  	 Cycles remaining to next

life-limited part removal

		  		  	
		  		  	
		  		  	

 i.Engine No. 2 Information: 

 

							
	  	  	 Serial No
	  	 Total Hours
	  	 Total Cycles

				
	ENGINE #2	  		  		  	

  

					
		  	152	  	EXHIBIT
		  		  	RETURN ACCEPTANCE RECEIPT

									
	 ENGINE #2 MODULES
	  	 Total

Hours
	  	 Total

Cycles
	  	 Hours since
 last Module
 Performance

Restoration
	  	 Cycles since
 last Module
 Performance

Restoration

					
	Low Pressure Compressor and Gearbox	  		  		  		  	
	High Pressure Compressor/Diffuser	  		  		  		  	
	High Pressure Turbine/Nozzle/Combustor	  		  		  		  	
	Low Pressure Turbine	  		  		  		  	

  

					
	 ENGINE #2 LIFE-LIMITED PART

NAME
	  	 Part

number
	  	 Cycles remaining to next

life-limited part removal

		  		  	
		  		  	
		  		  	

  

	 	(e)	APU: 

 Part number
             
 Serial number
             
 Total hours:
             
 Total cycles:
             

            
hours/             cycles since last hot section refurbishment 

            hours/
             cycles remaining on APU life-limited Parts 
  

	 	(f)	Landing Gear: 

  

									
	 Position
	  	 Serial No.
	  	 Total Hrs/Cycles/
Days
	  	 Hrs/Cycles/Days
since last
Overhaul
	  	 Date of last

Overhaul

					
	 Nose
	  		  		  		  	

  

					
		  	153	  	EXHIBIT
		  		  	RETURN ACCEPTANCE RECEIPT

 Left Main 
 Right Main 
 8. The amount of fuel on board at return is
             pounds/gallons/kilos of fuel (circle one). 
 9.
Other technical information regarding the Aircraft and its components are correctly set forth on the Technical Evaluation Report (in the form of Exhibit ) attached hereto. 
 10. With reference to Article of the Lease regarding reimbursement from the Reserves after return of the Aircraft: 
  

			
		  	There are no claims for reimbursement from the Reserves which will be submitted after the date hereof.
		
	or	  	
		
		  	Claims for reimbursement from the Reserves will be submitted after the date hereof for the following:
		
		  	Type of
Work                        Estimated Invoice Amount

 11. LESSEE confirms that it has delivered to LESSOR all free-of-charge kits for the Aircraft received by
LESSEE. 
 12. The above specified aircraft, engines and documentation are hereby accepted by LESSOR subject to the provisions
of the Lease and correction by LESSEE (or procurement by LESSEE at LESSEE’s cost) as soon as reasonably possible of the discrepancies specified in the list attached. 
 13. Subject to the following paragraph, the leasing of the Aircraft by LESSOR to LESSEE pursuant to the Lease is hereby terminated without prejudice to LESSEE’s continuing obligations under the Lease
including, without limitation, paragraph 11(b) above and Articles and . 
 14. LESSEE represents and warrants that during
the term of the Lease all maintenance and repairs to the Airframe and Engines were performed in accordance with the requirements contained in the Lease. LESSEE further confirms that all of its obligations under the Lease whether accruing prior to
the date hereof or which survive the termination of the Lease by their terms and accrue after the date hereof, will remain in full force and effect until all such obligations have been satisfactorily completed. 

  

					
		  	154	  	EXHIBIT
		  		  	RETURN ACCEPTANCE RECEIPT

 15. This Return Acceptance Receipt is executed and delivered by the parties in
                     [place]. 
 IN WITNESS WHEREOF, the parties hereto have caused this Return Acceptance Receipt to be executed in their respective company names by their duly authorized representatives as of the day and year first
above written. 
  

									
	INTERNATIONAL LEASE FINANCE CORPORATION	 		 	CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V.
					
	By:	 	  
	 		 	By:	 	  

	Printed Name:	 	  
	 		 	Printed Name:	 	  

	Its:	 	  
	 		 	Its:	 	  

 ATTACHMENTS: 
  

	1.	List of discrepancies 

	2.	List of Aircraft Documentation 

	3.	Current Aircraft layout passenger arrangement (LOPA) 

	4.	Incident/accident letter 

	5.	Dent and damage chart 

	6.	List of loose equipment 

	7.	List of free-of-charge kits 

	8.	Engine disk sheets 

	9.	Engine power assurance test conditions and results 

	10.	Engine trend data 

	11.	Technical Evaluation Report (in the form of Exhibit ) 

  

					
		  	155	  	EXHIBIT
		  		  	RETURN ACCEPTANCE RECEIPT

	 	EXHIBIT M	MONTHLY REPORT 

(SEE FOLLOWING SHEET) 

  

					
		  	156	  	EXHIBIT
		  		  	MONTHLY REPORT

 MONTHLY AIRCRAFT UTILIZATION AND STATUS REPORT 

Page 1 of      
  

			
	Report Due Date:                    	  	
	To:	  	INTERNATIONAL LEASE FINANCE CORPORATION Fax:

 (310) 788-1990 
 10250 Constellation Boulevard, 34th Floor 
 Los Angeles, California 90067, U.S.A.

 Attn: Finance Department 
  

							
	From:	 	 CONCESIONARIA

VUELA COMPANIA DE
 AVIACION, S.A. DE
C.V.
	 	
	Contact:	 	  
	 	Fax:	 	  

							
	AIRCRAFT FT TYPE:	 	 Airbus A319-100
	 	
	ENGINE TYPE:	 	 V2524-A5
	 	REGISTRATION:	 	 [Aircraft registration mark, or
             to mark place]

							
	SERIAL NUMBER:	 	 {MSN of Aircraft, if known}
	 	MONTH OF:	 	  

 NOTE: PLEASE RECORD TIME IN HOURS AND MINUTES NOT DECIMALS. 

 

			
	Aircraft Total Time Since New As Of Last Month:	  	Hours:
	Aircraft Total Time Since New:	  	Hours:
	Aircraft Total Cycles Since New:	  	Cycles:
	Airframe Hours Flown During Month:	  	Hours:
	Airframe Cycles/Landings During Month:	  	Cycles:

  

					
		  	157	  	EXHIBIT
		  		  	MONTHLY REPORT

 Monthly Aircraft Utilization and Status Report 
 From:            CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 Page 2 of      
  

											
	 	  	 HOURS OR

CYCLES FLOWN
 DURING MONTH
 (if applicable)
	  	x	  	US$ PER HOUR
OR CYCLE
(if applicable)	  	=	  	RESERVES (if particular
type of 
Reserves calculated
by calendar month, list
monthly amount)
	 TOTAL AIRFRAME:
	  		  		  		  		  	
		  	  
	  	  
	  	  
	  	  
	  	  

	 TOTAL LANDING GEAR:
	  		  		  		  		  	
		  	  
	  	  
	  	  
	  	  
	  	  

	 TOTAL APU:
	  	Hrs:	  	x	  		  	=	  	
		  	  
	  	  
	  	  
	  	  
	  	  

	 Original Engine Serial Number:
	  	Hrs:	  	x	  		  	=	  	
		  	Cycles (for Engine LLP Reserves):	  	x	  		  	=	  	
	 Original Engine Serial Number:
	  	Hrs:	  	x	  		  	=	  	
		  	Cycles (for Engine LLP Reserves):	  	x	  		  	=	  	
	 Original Engine Serial Number:
	  	Hrs:	  	x	  		  	=	  	
		  	Cycles (for Engine LLP Reserves):	  	x	  		  	=	  	
	 Original Engine Serial Number:
	  	Hrs:	  	x	  		  	=	  	
		  	Cycles (for Engine LLP Reserves):	  	x	  		  	=	  	
		  		  		  	  
	  	  
	  	  

	 TOTAL AMOUNT OF RESERVES (US$) PAID THIS MONTH:
	  	US$
		  		  		  	  
	  	  
	  	  

  

					
		  	158	  	EXHIBIT
		  		  	MONTHLY REPORT

 Monthly Aircraft Utilization and Status Report 
 From:            CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 Page 3 of      
  

									
	ENGINE SERIAL NUMBER:            	 		 	ENGINE SERIAL NUMBER:            
	ORIGINAL POSITION:	 		 		 	ORIGINAL POSITION:	 	
	ACTUAL LOCATION:	 		 		 	ACTUAL LOCATION:	 	
	CURRENT THRUST RATING:	 		 		 	CURRENT THRUST RATING:	 	
		 	HOURS:/MIN:	 		 		 	HOURS:/MIN:
	Total Time Since New As Of Last Month:	 		 		 	Total Time Since New As Of Last Month:	 	
	Total Time Since New:	 		 		 	Total Time Since New:	 	
	Total Cycles Since New:	 		 		 	Total Cycles Since New:	 	
	Hours Flown During Month:	 		 		 	Hours Flown During Month:	 	
	Cycles During Month:	 		 		 	Cycles During Month:	 	

  

			
	IMPORTANT:	  	IF ILFC-OWNED ENGINE IS REMOVED OR INSTALLED ON ANOTHER AIRCRAFT, IT MUST BE REPORTED MONTHLY ON THIS FORM.

  

					
		  	159	  	EXHIBIT
		  		  	MONTHLY REPORT

	 	EXHIBIT N	AIRCRAFT DOCUMENTATION 

 AIRCRAFT RECORDS 
  

	1.	Copies of original Certificates delivered by Airbus, such as: 

  

	 	a.	Airworthiness Certificate for Export 

  

	 	b.	Radio installation conformity certificate 

  

	 	c.	Noise limitation certificate 

  

	2.	Copies of original Documents delivered by Airbus, such as: 

  

	 	a.	Airworthiness Directive Compliance list 

  

	 	b.	Aircraft inspection report 

  

	 	c.	Aircraft Definition Report 

  

	 	d.	Weighing report 

  

	3.	Copies of current Certificates: 

  

	 	a.	Airworthiness Certificate 

  

	 	b.	Noise limitation 

  

	 	c.	Radio license 

  

	 	d.	Interior material burn certificates 

  

	 	e.	Certificate of Export 

  

	 	f.	Aircraft deregistration confirmation 

  

	 	g.	Aircraft Registration 

  

	4.	Letters signed and stamped by Quality Assurance: 

  

	 	a.	Current aircraft hours and cycles 

  

	 	b.	Current engines hours and cycles 

  

	 	c.	Accident and Incident report 

  

	 	d.	Summary of Maintenance Program 

  

	 	e.	AD compliance during the lease term 

  

	5.	Aircraft log books and Aircraft Definition Report 

  

	6.	Aircraft Hard Time (HT) inspection status 

  

	7.	One year forecast for HT inspection 

  

	8.	Aircraft Modification status, including service bulletins 

  

	9.	Last weighing report prior to redelivery 

  

	10.	AD compliance report with original signoffs 

  

	11.	Corrosion Prevention Control Program compliance summary 

  

	12.	Routine and non-routine job cards of the Return Check 

  

	13.	Routine and non-routine maintenance work cards for tasks performed during the Lease Term that were not repeated at or superseded by the Return Check

  

	14.	Past year pilot and maintenance discrepancies 

  

	15.	Major and Minor structural repairs with applicable approvals 

  

	16.	Compass Swing report of the last three years 

  

	17.	Cabin Configuration drawing (LOPA) 

  

	18.	Emergency equipment location drawing 

  

	19.	Engineering data package for all modifications 

  

					
		  	160	  	EXHIBIT
		  		  	MONTHLY REPORT

 ENGINES RECORDS 

 

	1.	Last test cell run reports 

  

	2.	Life-limited Parts status and traceability 

  

	3.	AD compliance report with original signoffs 

  

	4.	Engine Modification / service bulletin /inspection report and applicable forms 

 

	5.	Last heavy maintenance records for each module 

  

	6.	Engine log books 

  

	7.	Engine removal history 

  

	8.	Past year trend monitoring reports 

  

	9.	Historical borescope reports 

  

	10.	Engine component report 

 APU
RECORDS 
  

	1.	APU status (FH, FC, limits) 

  

	2.	Life-limited Part status and traceability 

  

	3.	AD compliance report with original signoffs 

  

	4.	Modification status 

  

	5.	Last heavy maintenance documents 

  

	6.	APU log books 

  

	7.	Last test cell report 

COMPONENT RECORDS 
  

	1.	Aircraft component inventory 

  

	2.	Hard time component inventory 

  

	3.	All required serviceable tags 

  

	4.	Landing Gear status with last overhaul and life-limited Part status 

  

	5.	AD compliance report with original signoffs 

  

	6.	Modification status 

  

	7.	Auxiliary fuel tank log book 

  

					
		  	161	  	EXHIBIT
		  		  	AIRCRAFT DOCUMENTATION

	 	EXHIBIT O	TECHNICAL EVALUATION REPORT 

 (SEE FOLLOWING SHEETS) 

  

					
		  	162	  	EXHIBIT
		  		  	AIRCRAFT DOCUMENTATION

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  

TABLE OF CONTENTS 
  

					
	 AIRCRAFT SUMMARY
	  	 	164	  
		
	 MAINTENANCE & INSPECTION
	  	 	165	  
		
	 LANDING GEAR
	  	 	167	  
		
	 ENGINES
	  	 	168	  
		
	 AUXILIARY POWER UNIT (APU)
	  	 	171	  
		
	 PASSENGER CABIN CONFIGURATION (Seating)
	  	 	172	  
		
	 GALLEY PROVISIONS
	  	 	173	  
		
	 LAVATORIES, AUDIO/ENTERTAINMENT, CARGO, INTERIOR
	  	 	174	  
		
	 FUEL, WEIGHT & BALANCE
	  	 	175	  
		
	 AVIONICS SYSTEMS
	  	 	176	  
		
	 INSPECTOR RECORD
	  	 	179	  

  
 163

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

					
		 	 AIRCRAFT SUMMARY as of
	  	 (date):

 

															
							
	Aircraft Make	 	 Airbus Industries
	 		 		 	Model	 	  
	 	
							
	FUS No.	 	  
	 		 		 	S/N	 	  
	 	
								
	MFG Date:	 	
                    
 
	 		 		 		 		 		 	
						
	Current Operator:	 	  
	 		 		 		 	
					
	Current Registration:	 	  
	 		 	Country:	 	  

					
	Previous Registration:	 	  
	 		 	Country:	 	  

				
	Annual Utilization:	 	  
	 	Hour/Cycle Ratio:	 	  

  

													
	Total Aircraft Time:	 	TAT (Hrs)	 	  
	 		 	As of (date):	 	  

							
	Total Aircraft Cycles:	 	TAC (Cyc)	 	  
	 		 		 		 	
						
	Time Since Last “C” or	 	(Hrs)	 	  
	 		 	(Cyc)	 	  

	Equivalent Check:	 		 		 		 		 		 	
						
	Time Since Last “5Y or 10Y” or	 	(Hrs)	 	  
	 		 	(Cyc)	 	  

	Equivalent Structural Check:	 		 		 		 		 		 	

  

													
	Engine Make:	 	  
	 	Model:	 	  
	 		 		 	

  

													
	Engine:	 	 1 S/N:
	 		 	 2 S/N:
	 		 		 	
							
	TSN: (Hrs)	 	  
	 		 	  
	 		 		 	
							
	CSN: (Cyc)	 	  
	 		 	  
	 		 		 	

 IMPORTANT NOTE: THE ENGINE SERIAL NUMBERS SPECIFIED ON THIS REPORT REFLECT THE LESSOR OWNED ENGINE
SERIAL NUMBERS. IF THE ENGINE SERIAL NUMBERS ARE NOT IDENTIFIED ON THIS REPORT, THEN PLEASE PROVIDE DATA FOR THE ENGINES ORIGINALLY DELIVERED WITH THE AIRCRAFT (LESSOR OWNED ENGINES). 

  
 164

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 MAINTENANCE PROGRAM GENERAL 

 

											
	Aircraft Maintenance Program Provided By:	 	 ̈ Operator	 	 ̈ Other:	 	  

				
	Program Approved By Authority Of:	 	 ̈ FAA Approved	 	 ̈ Other:	 	  

		
	Repair Station Providing Service:	 	  

					
	Repair Station Number:	 	  
	 	FAA Approved?	 		 	 ̈ Yes  ̈ No
					
	Primary Line Maintenance Provided By?:	 		 	 ̈ Operator	 		 	 ̈ Contract Service
					
	Reliability Controlled Maintenance Program?	 		 	 ̈ Yes	 		 	 ̈ No
					
	Component Tags Available For Controlled Components:	 		 	 ̈ Yes	 		 	 ̈ No

  

							
	 	  	At Aircraft Delivery	  	Currently Approved By Local
Aviation Authority	  	Currently Operated/Maintained
				
	ETOPS Qualification:	  	 Minutes
	  	 Minutes
	  	 Minutes

				
	Auto Land Qualification:	  	 CAT I, II, IIIa, IIIb, IIIc
	  	 CAT I, II, IIIa, IIIb, IIIc
	  	 CAT I, II, IIIa, IIIb, IIIc

	(Circle one that applies)	  		  		  	

 MAINTENANCE & INSPECTION PROGRAM DESCRIPTION 

 

											
	 Check
	  	 Operator’s
Nomenclature
	  	 Calendar
	  	 Frequency Hours
	  	 Cycles
	  	 Number of Phases

						
	“C”	  	  
	  	  
	  	  
	  	  
	  	  

						
	“5Y/ 10Y” or Equivalent	  	  
	  	  
	  	  
	  	  
	  	  

  
 165

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 MAINTENANCE & INSPECTION PROGRAM STATUS 

 

									
	 	  	 Phase or Equivalent
	  	 Date
	  	 Aircraft TAT
	  	 Aircraft TAC

	 Next “C” Phase or Equivalent:
	  	  
	  	  
	  	  
	  	  

	 Last “C” Phase or Equivalent:
	  	  
	  	  
	  	  
	  	  

					
	 Time Remaining:
	  	  
	  	  
	  	  
	  	  

					
	 	  	 	  	 (Cyc)
	  	 (Hrs)
	  	 (Cyc)

	Structural Cards Worked During Last “C” Phase?:	  		  	 ̈ Yes	  	 ̈ No
				
	CPCP Cards Worked During Last “C” Phase?:	  		  	 ̈ Yes	  	 ̈ No
					
	Next “5Y or 10Y” Phase or Equivalent:	  	  
	  	  
	  	  
	  	  

					
	Last “5Y or 10Y” Phase or Equivalent:	  	  
	  	  
	  	  
	  	  

					
	Time Remaining:	  	 	  	 (Days)
	  	 (Hrs)
	  	 (Cyc)

			
	CPCP Cards Worked During Last “5Y or 10Y” Phase?:	  	 ̈ Yes	  	 ̈ No

  

									
	Date of Last ATC Transponder Test:	  	#1	  	  
	  	#2	  	  

		
	Date of Last Flight Recorder Check:	  	  

		
	Date of Last Aircraft Weighing:	  	  

  
 166

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 LANDING GEAR 

 

											
	NLG Tires:	 	  
	  	(MPH Rating)	  	  
	  	(MFG)	  	  

						
	MLG Tires:	 	  
	  	(MPH Rating)	  	  
	  	(MFG)	  	  

				
	Brake Manufacture:	 	  
	  		  	Type:         ̈  Steel        
     ̈  Carbon

  

															
	NOSE:	 	P/N	 	
                    
 
	 	S/N	 	
                    
         
	 	
								
	Last Overhaul:	 		 	(Date)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

						
	Agency Performing Overhaul Service:	 		 		 	  
	 	Cert#	 	  

								
	Approved Overhaul Interval:	 		 	(Days)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

								
	Landing Gear Time Since Overhaul	 		 	(Days)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

								
	Time Remaining to Next Overhaul:	 		 	(Days)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

						
	LEFT MAIN:	 	P/N	 	  
	 	S/N 	 	  
	 	
								
	Last Overhaul:	 		 	(Date)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

						
	Agency Performing Overhaul Service:	 		 		 	  
	 	Cert#	 	  

								
	Approved Overhaul Interval:	 		 	(Days)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

								
	Landing Gear Time Since Overhaul	 		 	(Days)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

								
	Time Remaining to Next Overhaul:	 		 	(Days)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

						
	RIGHT MAIN:	 	P/N	 	  
	 	S/N	 	  
	 	
								
	Last Overhaul:	 		 	(Date)	 	  
	 	(Hrs)	 		 	(Cyc)	 	  

						
	Agency Performing Overhaul Service:	 		 		 	  
	 	Cert#	 	  

								
	Approved Overhaul Interval:	 		 	(Days)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

								
	Landing Gear Time Since Overhaul	 		 	(Days)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

								
	Time Remaining to Next Overhaul:	 		 	(Days)	 	  
	 	(Hrs)	 	  
	 	(Cyc)	 	  

  
 167

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 ENGINES 

ENGINE MAINTENANCE PROGRAM 
  

							
	Engine Maintenance	  		  		  	
	Program Provided By:	  	 	  	 	  	
			
	Engine Condition	  	 ̈  Yes     ̈  
No	  	
	Monitoring Trend	  		  		  	
	Analysis Program?	  		  		  	
				
	Engine Oil Type:	  	 	  	 	  	
				
	Current Thrust Rating:	  	 	  	Lbs	  	
				
	Certified Thrust Rating:	  	 	  	Lbs (from data plate)	  	

 Engine(s) operated at INCREASED or DECREASED Thrust Rating; Program limitations 

& required Mods. to operate at designated thrust rating 

 

	
	
	 
	
	 
	
	 
	
	 

  
 168

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 ENGINE SPECIFICATIONS 

ENGINE NUMBER 1 
  

																	
	Engine Make:	 	 	 	Model:	 	 	 	S/N:	 	 	 	 	 	 	 	
								
	Date of Mfg:	 	 	 	 Total Time:
	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
								
	Time Since Last Performance	 	(Visit Date)	 	 	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
	Restoration Visit:	 		 		 		 		 		 		 	
								
	Time Since Last Shop Visit:	 	(Visit Date)	 	 	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
								
	Test Cell EGT Margin:	 	 	 	 	 	 	 	 	 	 	 	 	 	
								
	Work Scope of Last Shop Visit:	 	 	 	 	 	 	 	 	 	 	 	 	 	
								
	Agency Performing Service:	 	 	 	 	 	 	 	 	 	 	 	 	 	

																	
								
	Agency FAA Approved?:	 		 	 ̈  Yes     ̈  No	 	Cert. #:	 	 	 	 	 		 	

  

													
	1st LIMITER*	 	Part Name:	 	 	 	 	 	 	 	 	 	
							
		 	Allowable Life/Insp Limit:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Total Component Time:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Time Remaining:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
	2nd LIMITER*	 	Part Name:	 	 	 	 	 	 	 	 	 	
							
		 	Allowable Life/Insp Limit:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Total Component Time:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Time Remaining:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	

  

	*	Provide a copy of a current Disk Sheet for all modules. 

  
 169

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 ENGINE SPECIFICATIONS 

ENGINE NUMBER 2 
  

																	
	Engine Make:	 	 	 	Model:	 	 	 	S/N:	 	 	 	 	 	 	 	
								
	Date of Mfg:	 	 	 	 Total Time:
	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
								
	Time Since Last Performance	 	(Visit Date)	 	 	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
	Restoration Visit:	 		 		 		 		 		 		 	
								
	Time Since Last Shop Visit:	 	(Visit Date)	 	 	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
								
	Test Cell EGT Margin:	 	 	 	 	 	 	 	 	 	 	 	 	 	
								
	Work Scope of Last Shop Visit:	 	 	 	 	 	 	 	 	 	 	 	 	 	
								
	Agency Performing Service:	 	 	 	 	 	 	 	 	 	 	 	 	 	

															
								
	Agency FAA Approved?:	 	 ̈  Yes     ̈  No	 		 	Cert. #:	 	 	 	 	 		 	

  

													
	1st LIMITER*	 	Part Name:	 	 	 	 	 	 	 	 	 	
							
		 	Allowable Life/Insp Limit:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Total Component Time:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Time Remaining:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
	2nd LIMITER*	 	Part Name:	 	 	 	 	 	 	 	 	 	
							
		 	Allowable Life/Insp Limit:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Total Component Time:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Time Remaining:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	

  

	*	Provide a copy of a current Disk Sheet for all modules. 

  
 170

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 AUXILIARY POWER UNIT 

 

																	
	APU Make:	 	 	 	Model:    	 	 	 	S/N:	 	 	 	 	 	 	 	

															
								
	Date of Mfg:	 	 	 	    Total Time:	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
					
	APU Times Are Recorded By:	 	 ̈  APU Clock or  ̈  A/C Time	 	Ratio:	 	 	 	

																			
								
	Time Between Overhaul	 	(Hrs)	 	 	 	(Cyc)	 	 	 		 		 	
								
	Time Since Last Hit Section Refurbishment	 	(Date)	 	 	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
								
	Time Since Last Overhaul:	 	(Date)	 	 	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
								
	Time Since Last Shop Visit:	 	(Date)	 	 	 	(Hrs)	 	 	 	(Cyc)	 	 	 	
									
	Work Scope:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	

													
							
	Agency Performing Service:  	 	 	 	Location:  	 	 	 	Cert. #:  	 	 	 	

													
						
	Agency FAA Approved?:	 	 ̈  Yes               
  ̈  No	 	APU Oil Type:	 	 	 		 	

  

													
	1st LIMITER	 	Part Name:	 	 	 	 	 	 	 	 	 	
							
		 	Allowable Life/Insp Limit:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Total Component Time:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Time Remaining:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
	2nd LIMITER	 	Part Name:	 	 	 	 	 	 	 	 	 	
							
		 	Allowable Life/Insp Limit:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Total Component Time:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	
							
		 	Time Remaining:	 	 	 	(Hrs)	 	 	 	(Cyc)	 	

  
 171

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 PASSENGER CABIN CONFIGURATION 

SEATING CONFIGURATION 
  

			
	Present Configuration Occupancy:                      
          	 	No. of Handicap Seats Installed:
                                

 FIRST CLASS 

 

															
		 	Pax Qty:                    	 	Seat Mfg:                         
       	 	Model:                          
          	 	P/N:	 	  

													
						
		 	Seats Fireblocked?	 	 ̈ Yes	 	 ̈ No	 	Color:	 	  

													
							
		 	16 G Seat Installation:	 		 	 ̈ Yes	 		 	 ̈ No	 	
							
		 	In Seat Video:	 		 	 ̈ Yes	 		 	 ̈ No	 	
							
		 	In Seat Power:	 		 	 ̈ Yes	 		 	 ̈ No	 	

 BUSINESS CLASS 
  

															
		 	Pax Qty:                    	 	Seat Mfg:                         
       	 	Model:                          
          	 	P/N:	 	  

													
						
		 	Seats Fireblocked?	 	 ̈ Yes	 	 ̈ No	 	Color:	 	  

													
							
		 	16 G Seat Installation:	 		 	 ̈ Yes	 		 	 ̈ No	 	
							
		 	In Seat Video:	 		 	 ̈ Yes	 		 	 ̈ No	 	
							
		 	In Seat Power:	 		 	 ̈ Yes	 		 	 ̈ No	 	

 COACH CLASS 
  

															
		 	Pax Qty:                    	 	Seat Mfg:                        
        	 	Model:                         
           	 	P/N:	 	  

													
						
		 	Seats Fireblocked?	 	 ̈ Yes	 	 ̈ No	 	Color:	 	  

													
							
		 	16 G Seat Installation:	 		 	 ̈ Yes	 		 	 ̈ No	 	
							
		 	In Seat Video:	 		 	 ̈ Yes	 		 	 ̈ No	 	
							
		 	In Seat Power:	 		 	 ̈ Yes	 		 	 ̈ No	 	

													
	  
	 	
		 	Provisions for Life Vests Under Seats?:	 	 ̈
Yes                         ̈ No

									
					
		 	Manufacturer:	 	  
	 	Part Number:	 	  

													
		
		 	Emergency Escape Path Lighting:                     ̈ Floor Mounted                     ̈ 
Seat Mounted

									
					
		 	Configuration Drawing Number:	 	  
	 	Source:	 	  

			
		
	Engineering Order / Installation Document:	 	  

													
							
		 	Installation FAA Approved?:	 	 ̈ Yes	 	 ̈ No	 		 	Method of Approval:	 	  

  

	*	Provide current LOPA, Emergency Equipment Layout, and IFE Layout. 

  
 172

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 GALLEY PROVISIONS 
 GALLEY’s ARE (Check
one):            (    ) Atlas Standard            (    ) KSSU 
Standard            (    ) Other 
  

											
	 	 	 	 	 	 	 	 	EQUIPPED
	 	 	 GALLEY LOCATION
	 	 MANUFACTURER
	 	 PART NUMBER
	 	 Water Power
	 	 
	 1.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈
						
	 2.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈
						
	 3.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈
						
	 4.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈
						
	 5.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈
						
	 6.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈
						
	 7.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈
						
	 8.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈
						
	 9.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈
						
	 10.
	 	  
	 	  
	 	  
	 	 ̈	 	 ̈

 NOTE: Galley Locations per Spec or LOPA drawing i.e., GI, G2 etc. Galley Location numbers above correspond to the numbers
below. 
  

																	
	 	 	 OVENS
	 	 FULL SIZE

CARTS
	 	  1/2 SIZE
 CARTS
	 	 CHILLERS
	 	 COFFEE
MAKERS
	 	 WATER

BOILERS
	 	 HOT CUPS
	 	 OTHER

									
	1.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

									
	2.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

									
	3.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

									
	4.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

									
	5.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

									
	6.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

									
	7.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

									
	8.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

									
	9.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

									
	10.	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

  
 173

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 LAVATORIES 

 

									
	Number of Lavatories:	 	  
	  	Handicap Provisions?:	  	 ̈ Yes	  	 ̈ No
	Locations:	 	  
	  		  	

 IN-FLIGHT AUDIO & ENTERTAINMENT SYSTEM 

 

																									
	Boarding Music:	  	 ̈ Yes	  	 ̈ No
			
	Auto Evac & Warning:	  	 ̈ Yes	  	 ̈ No
			
	Pre-Recorded Announcement:	  	 ̈ Yes	  	 ̈ No
			
	Passenger Entertainment (Audio):	  	 ̈ Yes	  	 ̈ No
			
	Audio On Demand (AOD):	  	 ̈ Yes	  	 ̈ No
					
	Passenger Entertainment (Video):	  	 ̈ Yes	  	 ̈ No	 	Video Manufacturer:              	 	Video System:              
			
	Video On Demand (VOD):	  	 ̈ Yes	  	 ̈ No
			
	Entertainment Controls (PCU) Installed?	  	 ̈ Yes	  	 ̈ No
				
	VTR Format:	  	 ̈ VHS	  	 ̈ Hi-8	  	 ̈ Other
			
	 ̈ Projector	  	 ̈ PSU Monitor	  	 ̈ Aisle Monitor
	(Check All That Apply)	  		  	
			
	Passenger En-Route Information Display:	  	 ̈ Yes	  	 ̈ No
						
	Telephone:	  	 ̈ Yes  ̈ No	  	 ̈ Leased	  	 ̈ Owned	  		 	Satellite:  ̈ Yes  ̈ No

 CARGO COMPARTMENT 

 

					
	Cargo Loading System Installed:	  	 ̈ Yes	  	 ̈ No
			
	Smoke/Fire Detection System Installed:	  	 ̈ Yes	  	 ̈ No
			
	Fire Suppression System Installed:	  	 ̈ Yes	  	 ̈ No

 INTERIOR COLORS 

 

					
	Interior Color Scheme:                        
                	 	Carpets:                            
                	 	Curtains:                            
                

  
 174

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 PLACARDS & LIGHTED SIGNS 

 

							
	English?:                    
 ̈Yes                     ̈ No	  	Bi-Lingual?:                    
 ̈ Yes                     ̈ No
				
	First Lanuage:	 	  
	  	Second Language:	 	  

 FUEL SYSTEM 

 

											
	Total Fuel Capacity:	 	  
	  	U.S. Gallons	 	  
	 		 	 ̈ Lbs or  ̈ Kilos
						
	Number of Tanks:	 	  
	  		 		 		 	

  

									
					
	Auxiliary Tanks Installed?:	 	 ̈ Yes	  	 ̈ No	 		  	
					
	Auxiliary Tank Capacity:	 	  
	  	U.S. Gallons	 	  
	  	 ̈ Lbs or  ̈ Kilos
	
	Fuel Instrumentation / Calibration:                     ̈ U.S. Pounds                     ̈
Kilograms

 WEIGHT & BALANCE 

 

									
	Has Aircraft Been Modified For Increased Gross Weight by Current
Lessee?:                     ̈
Yes                     ̈ No
	From	 	  
	 	MTOGW To	 	  
	 	MTOGW

							
	Weight & Balance Manual Document No.:	 	  
	 	Rev:	 	  

 For the below weights specify AFM approved limits: 

 

									
	 	  	 	  	 	  	 POUNDS
	  	 KILOS

					
	Maximum Takeoff Gross Weight:	  	(MTOGW)	  		  	 /
	  	  

					
	Maximum Taxi Weight:	  	(MTW)	  		  	 /
	  	  

					
	Maximum Landing Weight:	  	(MLW)	  		  	 /
	  	  

					
	Manufacturer’s Empty Weight:	  	(MEW)	  		  	 /
	  	  

					
	Maximum Zero Fuel Weight:	  	(MZFW)	  		  	 /
	  	  

					
	Operational Empty Weight:	  	(OEW)	  		  	 /
	  	  

					
	AFM measured in:	  	Pounds or Kilograms	  		  	  
	  	  

					
		  	Celsius or Fahrenheit	  		  	  
	  	  

  
 175

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 AVIONICS SYSTEMS 

22 AUTO FLIGHT 
  

							
	 QTY
	  	 COMPONENT
	 	 MANUFACTURER
	  	 MODEL or PART

NUMBER

				
	
                 
	  	FMGC - Flight Management & Guidance Computer:	 	  
	  	  

				
	  
	  	FAC - Flight Augmentation Computer:	 	  
	  	  

				
	  
	  	FCU - Flight Control Unit:	 	  
	  	  

				
	  
	  	MCDU - Multipurpose Control Display Unit:	 	  
	  	  

		  	Windshear (Check one):	 	 ̈ Reactive	  	 ̈ Predictive

 23 COMMUNICATIONS 

 

							
	 QTY
	  	 COMPONENT
	 	 MANUFACTURER
	  	 MODEL or PART
NUMBER

				
	
                 
	  	CIDS Director - Cabin Intercommunications Data System	 	  
	  	  

				
	  
	  	HF Transceiver:	 	  
	  	  

				
	  
	  	VHF Transceiver:	 	  
	  	  

				
	  
	  	Solid State Cockpit Voice Recorder:	 	  
	  	  

				
	  
	  	PRAM Tape Reproducer (Pre-Recorded PAX Address):	 	  
	  	  

				
	  
	  	MPES Tape Reproducer (Audio Entertainment):	 	  
	  	  

				
	  
	  	Tape Reproducer (Video Entertainment):	 	  
	  	  

				
	  
	  	Audio Management Unit/SELCAL Decoder:	 	  
	  	  

				
	  
	  	ACARS Management Unit:	 	  
	  	  

				
	  
	  	RMP - Radio Management Panel:	 	  
	  	  

  
 176

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 AVIONICS SYSTEMS (continued) 

 

 27 FLIGHT CONTROL COMPUTER 

 

							
	 QTY
	  	 COMPONENT
	 	 MANUFACTURER
	  	 MODEL or PART

NUMBER

				
	
                 
	  	ELAC - Elevator/Aileron Computer:	 	  
	  	  

				
	  
	  	SFCC - Slat/flap Control Computer:	 	  
	  	  

				
	  
	  	SEC - Spoiler/Elevator Computer:	 	  
	  	  

				
	  
	  	FCDC - Flight Control Data Concentrator:	 	  
	  	  

 31 INDICATING AND RECORDING 

 

							
	 QTY
	  	 COMPONENT
	 	 MANUFACTURER
	  	 MODEL or PART

NUMBER

				
	
                 
	  	Multifunction Printer:	 	  
	  	  

				
	  
	  	DFDR - Flight Data Recorder:	 	  
	  	  

				
	  
	  	FDIU - Digital Flight Data Interface Unit:	 	  
	  	  

				
	  
	  	Accelerometer:	 	  
	  	  

				
	  
	  	FWC - Flight Warning Computers:	 	  
	  	  

				
	  
	  	QAR - Quick Access Recorder:	 	  
	  	  

				
	  
	  	AIDS - Aircraft Integrated Data System:	 	  
	  	  

 ELECTRONIC INSTRUMENT SYSTEM (EIS) 

 

							
	
                 
	  	PFD - Primary Flight Display:	 	  
	  	  

				
	
                 
	  	ND - Navigation Display:	 	  
	  	  

				
	  
	  	SDACS - System Data Acquisition Concentrators:	 	  
	  	  

				
	  
	  	Display Management Computers:	 	  
	  	  

				
	  
	  	EWD - Engine/Warning Display:	 	  
	  	  

				
	  
	  	SD - System Display:	 	  
	  	  

  
 177

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 AVIONICS SYSTEMS (continued) 

 

							
	 QTY
	  	 COMPONENT
	 	 MANUFACTURER
	  	 MODEL or PART

NUMBER

				
	
                 
	  	CFDIU - Centralized Fault Display Interface:	 	  
	  	  

 34 NAVIGATION 

 

							
	 QTY
	  	 COMPONENT
	 	 MANUFACTURER
	  	 MODEL or PART
NUMBER

				
	
                 
	  	ADIRU - Air Data/Inertial Reference System:	 	  
	  	  

				
	  
	  	DME - Distance Measuring Equipment Interrogators:	 	  
	  	  

				
	  
	  	VHF VOR/Marker Beacon Receiver:	 	  
	  	  

				
	  
	  	VHF ILS Receiver or Multi Mode Receiver:	 	  
	  	  

				
	  
	  	DDRMI - Digital Distance & Radio Magnetic Indicator:	 	  
	  	  

				
	  
	  	Radio Altimeter Transceiver:	 	  
	  	  

				
	  
	  	Weather Radar Transceiver:	 	  
	  	  

				
	  
	  	TCAS - Traffic Alert and Collision Avoidance System Computer:	 	  
	  	  

				
	  
	  	ATC - Air Traffic Control System Transponder:	 	  
	  	  

				
	  
	  	Microwave Landing Receiver:	 	  
	  	  

				
	  
	  	GPWS - Ground Proximity Warning System:	 	  
	  	  

				
	  
	  	ADF - Automatic Direction Finder Receiver:	 	  
	  	  

  
 178

 INTERNATIONAL LEASE FINANCE CORPORATION 

A319-100/CONCESIONARIA VUELA COMPANIA DE AVIACION, S.A. DE C.V. 
 TECHNICAL EVALUATION REPORT A319/A320/A321 
  
  

 INSPECTOR RECORD 

 

									
	INSPECTED BY:	 	  
	 	DATE:                     	 	
					
	OPERATOR:	 		 	REGISTERED OWNER:	 	  
	 	
			
	ADDRESS OF OPERATOR:	 	  
	 	
			
		 	  
	 	
			
		 	  
	 	
			
	 CONTACT

(Name/Title):
	 	  
	 	
				
	TELEPHONE:	 	  
	 	TELEFAX:
                                        
	 	
					
	Email Address:	 	  
	 		 		 	

  

									
	Department Contact	  	 Name
	  	 Phone
	  	 Fax
	  	 Email

					
	 Quality Control:
	  	  
	  	  
	  	  
	  	  

					
	 Power Plant Engineering:
	  	  
	  	  
	  	  
	  	  

					
	 Maintenance Programs/Planning:
	  	  
	  	  
	  	  
	  	  

  
 179

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}]]