<SEC-DOCUMENT>0001144204-19-008264.txt : 20190214
<SEC-HEADER>0001144204-19-008264.hdr.sgml : 20190214
<ACCEPTANCE-DATETIME>20190214170222
ACCESSION NUMBER:		0001144204-19-008264
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190214
DATE AS OF CHANGE:		20190214
GROUP MEMBERS:		FERNANDO DONAYRE
GROUP MEMBERS:		INCA LATIN AMERICAN FUND, LP
GROUP MEMBERS:		INCA MANAGEMENT, LLC

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
		CENTRAL INDEX KEY:			0001520504
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-87882
		FILM NUMBER:		19607985

	BUSINESS ADDRESS:	
		STREET 1:		AV. ANTONIO DOVAL? JAIME NO. 70
		STREET 2:		PISO 13
		CITY:			COL. ZEDEC SANTA FE
		STATE:			O5
		ZIP:			01210
		BUSINESS PHONE:		(52) 55-5261-6400

	MAIL ADDRESS:	
		STREET 1:		AV. ANTONIO DOVAL? JAIME NO. 70
		STREET 2:		PISO 13
		CITY:			COL. ZEDEC SANTA FE
		STATE:			O5
		ZIP:			01210

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INCA Investments LLC
		CENTRAL INDEX KEY:			0001513137
		IRS NUMBER:				223899123
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		8950 SW 74 COURT
		STREET 2:		SUITE 2101
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33156
		BUSINESS PHONE:		3056702230

	MAIL ADDRESS:	
		STREET 1:		8950 SW 74 COURT
		STREET 2:		SUITE 2101
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33156
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>tv513801_sc13ga.htm
<DESCRIPTION>SC 13G/A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>SCHEDULE 13G</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Under the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Amendment No. 2)*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B><U>Controladora
Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n, S.A.B. de C.V.</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><U>Series A Common Stock, no par value</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><U>21240E105</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><U>December 31, 2018</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Date of Event Which Requires Filing of this
Statement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT>
Rule 13d-1(b)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT> Rule
13d-1(c)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT>
Rule 13d-1(d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">* The remainder of this cover page shall be filled out for a reporting
person&rsquo;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter the disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0">The information required in the remainder of this cover page shall not be deemed to be &ldquo;filed&rdquo;
for the purpose of Section 18 of the Securities Exchange Act of 1934 (&ldquo;Act&rdquo;) or otherwise subject to the liabilities
of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">CUSIP No. 21240E105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">1.</TD>
    <TD STYLE="width: 93%">Names of Reporting Persons</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>INCA Latin American Fund, LP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.</TD>
    <TD>Check the Appropriate Box if a Member of a Group (See Instructions)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(a)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(b)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.</TD>
    <TD>SEC Use Only</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.</TD>
    <TD>Citizenship or Place of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="width: 23%">NUMBER OF <BR>
SHARES<BR>
BENEFICIALLY<BR>
OWNED BY EACH<BR>
REPORTING<BR>
PERSON WITH:</TD>
    <TD STYLE="width: 47%; padding-top: 2pt; padding-bottom: 2pt">5.&nbsp;&nbsp;SOLE VOTING POWER</TD>
    <TD STYLE="width: 30%; text-align: right"><P STYLE="margin: 0">12,155,240</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; padding-left: 0">6.&nbsp;&nbsp;SHARED VOTING POWER</TD>
    <TD STYLE="text-align: right">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">7.&nbsp;&nbsp;SOLE DISPOSITIVE POWER</TD>
    <TD STYLE="text-align: right">12,155,240</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">8.&nbsp;&nbsp;SHARED DISPOSITIVE POWER</TD>
    <TD STYLE="text-align: right">0</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">9.</TD>
    <TD STYLE="width: 93%">Aggregate Amount Beneficially Owned by Each Reporting Person</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0">12,155,240</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.</TD>
    <TD>Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>11.</TD>
    <TD>Percent of Class Represented by Amount in Row (9)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>1.2%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>12.</TD>
    <TD>Type of Reporting Person (See Instructions)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>PN</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">Ownership information above is as of the close of business on February 13, 2019, the business day before the date of filing of this Schedule 13G/A.</P>

</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">CUSIP No. 21240E105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">1.</TD>
    <TD STYLE="width: 93%">Names of Reporting Persons</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>INCA Investments, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.</TD>
    <TD>Check the Appropriate Box if a Member of a Group (See Instructions)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(a)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(b)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.</TD>
    <TD>SEC Use Only</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.</TD>
    <TD>Citizenship or Place of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Delaware</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="width: 23%">NUMBER OF<BR>
SHARES<BR>
BENEFICIALLY<BR>
OWNED BY EACH<BR>
REPORTING<BR>
PERSON WITH:</TD>
    <TD STYLE="width: 47%; padding-top: 2pt; padding-bottom: 2pt">5.&nbsp;&nbsp;SOLE VOTING POWER</TD>
    <TD STYLE="width: 30%; text-align: right; padding-top: 2pt; padding-bottom: 2pt">79,936,170</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">6.&nbsp;&nbsp;SHARED VOTING POWER</TD>
    <TD STYLE="text-align: right; padding-top: 2pt; padding-bottom: 2pt">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">7.&nbsp;&nbsp;SOLE DISPOSITIVE POWER</TD>
    <TD STYLE="text-align: right; padding-top: 2pt; padding-bottom: 2pt"><P STYLE="margin: 0">79,936,170</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">8.&nbsp;&nbsp;SHARED DISPOSITIVE POWER</TD>
    <TD STYLE="text-align: right; padding-top: 2pt; padding-bottom: 2pt">0</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">9.</TD>
    <TD STYLE="width: 93%">Aggregate Amount Beneficially Owned by Each Reporting Person</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0">79,936,170</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.</TD>
    <TD>Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>11.</TD>
    <TD>Percent of Class Represented by Amount in Row (9)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>7.9%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>12.</TD>
    <TD>Type of Reporting Person (See Instructions)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>OO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">Ownership information above is as of the close of business on February 13, 2019, the business day before the date of filing of this Schedule 13G/A.</P>

</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">CUSIP No. 21240E105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">1.</TD>
    <TD STYLE="width: 93%">Names of Reporting Persons</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0">INCA Management, LLC</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.</TD>
    <TD>Check the Appropriate Box if a Member of a Group (See Instructions)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(a)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(b)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0.5in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.</TD>
    <TD>SEC Use Only</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.</TD>
    <TD>Citizenship or Place of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0">Delaware</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="width: 23%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">NUMBER OF</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">SHARES</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">BENEFICIALLY</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">OWNED BY EACH</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">REPORTING</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">PERSON WITH:</P></TD>
    <TD STYLE="width: 47%; padding-top: 2pt; padding-bottom: 2pt">5.&nbsp;&nbsp;SOLE VOTING POWER</TD>
    <TD STYLE="width: 30%; text-align: right; padding-top: 2pt; padding-bottom: 2pt">12,155,240</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">6.&nbsp;&nbsp;SHARED VOTING POWER</TD>
    <TD STYLE="text-align: right; padding-top: 2pt; padding-bottom: 2pt">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">7.&nbsp;&nbsp;SOLE DISPOSITIVE POWER</TD>
    <TD STYLE="text-align: right; padding-top: 2pt; padding-bottom: 2pt"><P STYLE="margin: 0">12,155,240</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">8.&nbsp;&nbsp;SHARED DISPOSITIVE POWER</TD>
    <TD STYLE="text-align: right; padding-top: 2pt; padding-bottom: 2pt">0</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">9.</TD>
    <TD STYLE="width: 93%">Aggregate Amount Beneficially Owned by Each Reporting Person</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0">12,155,240</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.</TD>
    <TD>Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>11.</TD>
    <TD>Percent of Class Represented by Amount in Row (9)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>1.2%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>12.</TD>
    <TD>Type of Reporting Person (See Instructions)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>OO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">Ownership information above is as of the close of business on February 13, 2019, the business day before the date of filing of this Schedule 13G/A.</P>

</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">CUSIP No. 21240E105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">1.</TD>
    <TD STYLE="width: 93%">Names of Reporting Persons</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0">Fernando Donayre</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.</TD>
    <TD>Check the Appropriate Box if a Member of a Group (See Instructions)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(a)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.</TD>
    <TD>SEC Use Only</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.</TD>
    <TD>Citizenship or Place of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>United States</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE> <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="width: 23%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">NUMBER OF</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">SHARES</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">BENEFICIALLY</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">OWNED BY EACH</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">REPORTING<BR>
        PERSON WITH:</P></TD>
    <TD STYLE="width: 47%; padding-top: 2pt; padding-bottom: 2pt">5.&nbsp;&nbsp;SOLE VOTING POWER</TD>
    <TD STYLE="width: 30%; text-align: right; padding-top: 2pt; padding-bottom: 2pt">79,936,170</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">6.&nbsp;&nbsp;SHARED VOTING POWER</TD>
    <TD STYLE="text-align: right; padding-top: 2pt; padding-bottom: 2pt">0</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">7.&nbsp;&nbsp;SOLE DISPOSITIVE POWER</TD>
    <TD STYLE="text-align: right; padding-top: 2pt; padding-bottom: 2pt">79,936,170</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">8.&nbsp;&nbsp;SHARED DISPOSITIVE POWER</TD>
    <TD STYLE="text-align: right; padding-top: 2pt; padding-bottom: 2pt">0</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">9.</TD>
    <TD STYLE="width: 93%">Aggregate Amount Beneficially Owned by Each Reporting Person</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0">79,936,170</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.</TD>
    <TD>Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>11.</TD>
    <TD>Percent of Class Represented by Amount in Row (9)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>7.9%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>12.</TD>
    <TD>Type of Reporting Person (See Instructions)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>IN</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">Ownership information above is as of the close of business on February 13, 2019, the business day before the date of filing of this Schedule 13G/A.</P>

</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 1.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>The name of the issuer is Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n, S.A.B. de C.V. (the &ldquo;<I>Issuer</I>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>The principal executive offices of the Issuer are located at Av. Antonio Doval&iacute; Jaime No. 70, 13 Floor, Tower B, Colonia
Zedec Santa Fe, United Mexican States, Mexico City, 01210.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 2.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>This statement (this &ldquo;<I>Statement</I>&rdquo;) is being filed by: (1) INCA Latin American Fund, LP, a Delaware limited
partnership (the &ldquo;<I>Fund</I>&rdquo;); (2) INCA Investments, LLC, a Delaware limited liability company (the &ldquo;<I>Investment
Manager</I>&rdquo;); (3)&nbsp;INCA Management, LLC, a Delaware limited liability company (the &ldquo;<I>General Partner</I>&rdquo;);
and (4) Fernando Donayre (all of the foregoing, collectively, the &ldquo;<I>Reporting Persons</I>&rdquo;). The Fund is a private
investment vehicle and directly owns 12,155,240 of the shares of Series A Common Stock reported in this Statement, with the remaining
67,780,930 shares of Series A Common Stock held in separately managed accounts (&ldquo;<I>SMAs</I>&rdquo;) managed by the Investment
Manager. The Investment Manager is the investment manager to the Fund and the SMAs. The General Partner is the general partner
of the Fund. Mr. Donayre is Managing Member of the Investment Manager and the General Partner and is the Portfolio Manager for
the Fund and the SMAs. The Investment Manager, the General Partner and Mr. Donayre may be deemed to beneficially own the shares
of Series A Common Stock owned directly by the Fund; and the Investment Manager and Mr. Donayre may be deemed to beneficially own
the shares of Series A Common Stock owned directly by the SMAs. Each Reporting Person disclaims beneficial ownership with respect
to any shares of Series A Common Stock other than those owned directly by such Reporting Person.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>The principal business office of the Reporting Persons is 8950 SW 74th Court, Suite 2101, Miami, Florida 33156.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>For citizenship information see Item 4 of the cover page of each Reporting Person.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>This Statement relates to the Series A Common Stock, no par value, of the Issuer (the &ldquo;<I>Series A Common Stock</I>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD>The CUSIP Number of the Common Stock is 21240E105.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 3. If this statement is filed pursuant to 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">(a)</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 90%">Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(b)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(c)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(d)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(e)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E);</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(f)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F);</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(g)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G);</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(h)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(i)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(j)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>A non-U.S. institution in accordance with &sect;240.13d-1(b)(1)(ii)(J);</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>(k)</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>Group, in accordance with &sect;240.13d-1(b)(1)(ii)(K).</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">If filing as a non-U.S. institution in accordance
with &sect;240.13d-1(b)(1)(ii)(J), please specify the type of institution: _______________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 4. Ownership.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">See Items 5-9 and 11 on the cover page for each Reporting Person,
and Item 2, which information is given as of close of business on February 13, 2019, the business day before the date of filing
of this Statement. As of the Event Date of December 31, 2018, the Fund directly owned 13,810,000 shares of Series A Common Stock
and the SMAs directly owned 82,250,870 shares of Series A Common Stock, collectively amounting to 96,060,870 shares of Series A
Common Stock and representing 9.5% of all of the outstanding shares of Series A Common Stock. The percentage ownership of each
Reporting Person is based on 1,011,876,677 total shares, comprised of 923,824,804 shares of Series A Common Stock and 88,051,873
shares of Series B Common Stock (both of which have voting rights) outstanding as of September 30, 2018, as reported by the Issuer
in its Form 6-K filed on October 26, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the Issuer&rsquo;s bylaws, shares of Series A Common
Stock can be directly owned only by Mexican individuals or entities controlled by Mexican individuals. As a result, the Fund and
the SMAs hold American Depositary Shares (&ldquo;<I>ADSs</I>&rdquo;), with each ADS representing ten (10) Ordinary Participation
Certificates (&ldquo;<I>CPOs</I>&rdquo;), and with each CPO representing a financial interest in one share of Series A Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">None of the Reporting Persons has voting rights with respect to
the ADSs held by such Reporting Person; accordingly, the filing of this Statement may not be required. However, in the event that
the ADSs were transferred to a Mexican individual or entity controlled by Mexican individuals, and such new holder(s) held shares
of Series A Common Stock directly, such new holder(s) would have voting power over such shares of Series A Common Stock. Accordingly,
the Reported Persons have elected to file this Statement out of an abundance of caution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 5. Ownership of Five Percent or Less of a Class.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check
the following: <FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 6. Ownership of More than Five Percent on Behalf of Another
Person.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The owners of the SMAs have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, the shares of Series A Common Stock reported herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding Company.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 8. Identification and Classification of Members of the Group.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9. Notice of Dissolution of Group.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 10. Certification.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Not applicable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">Not applicable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and
were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other
than activities solely in connection with a nomination under &sect;240.14a-11.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dated: February 14, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>Fernando Donayre</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>INCA Investments, LLC</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>INCA Management, LLC</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><B>INCA Latin American Fund, LP</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">/s/ Fernando Donayre&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Fernando Donayre, for himself and</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">as Managing Member of the</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Investment Manager and the General</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">Partner (for itself and the Fund)</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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