<SEC-DOCUMENT>0001292814-23-000540.txt : 20230222
<SEC-HEADER>0001292814-23-000540.hdr.sgml : 20230222
<ACCEPTANCE-DATETIME>20230221191650
ACCESSION NUMBER:		0001292814-23-000540
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20221231
FILED AS OF DATE:		20230222
DATE AS OF CHANGE:		20230221

FILER:

	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:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36059
		FILM NUMBER:		23650071

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>vlrspr4q22_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>UNITED STATES
SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>Washington,
D.C. 20549</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>FORM 6-K</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>REPORT OF
FOREIGN PRIVATE ISSUER</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>THE SECURITIES
EXCHANGE ACT OF 1934</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>For the
month of February 2023</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>Commission
File Number: 001-36059</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 14pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>Controladora
Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n, S.A.B. de C.V.</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">(Name of Registrant)</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>Av. Antonio
Doval&iacute; Jaime No. 70, 13 Floor, Tower B</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>Colonia
Zedec Santa Fe</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>United Mexican
States, Mexico City 01210</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>+(52) 55-5261-6400</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">(Address of
Principal Executive Offices)</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0px">Indicate by
check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form 40-F.</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">Form
20-F&nbsp;</font><font style="font-family: Wingdings">x</font><font style="font-family: Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F&nbsp;</font><font style="font-family: Wingdings">&uml;</font></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0px">Indicate by
check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">Yes&nbsp;</font><font style="font-family: Wingdings; font-size: 10pt">&uml;</font>&nbsp;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: Times New Roman, Times, serif">No&nbsp;</font><font style="font-family: Wingdings">x</font></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0px">Indicate by
check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">Yes&nbsp;</font><font style="font-family: Wingdings; font-size: 10pt">&uml;</font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: Times New Roman, Times, serif">No&nbsp;</font><font style="font-family: Wingdings">x</font></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0px">Indicate by
check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">Yes&nbsp;</font><font style="font-family: Wingdings; font-size: 10pt">&uml;</font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family: Times New Roman, Times, serif">No&nbsp;</font><font style="font-family: Wingdings">x</font></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0px">If &ldquo;Yes&rdquo;
is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- __________</p>



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

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

<P STYLE="font: 10pt Times New Roman,serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman,serif; margin: 0 0 10pt; text-align: justify">On February 21, 2023, Controladora Vuela Compa&ntilde;&iacute;a
de Aviaci&oacute;n, S.A.B. de C.V. (NYSE: VLRS) issued a press release titled &ldquo;Volaris Reports Financial Results for the Fourth
Quarter and Full Year 2022.&rdquo;.&rdquo; A copy of this press release is attached to this Form 6-K as Exhibit 99.1</P>

<P STYLE="font: 10pt/107% Times New Roman,serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></DIV>
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<P STYLE="font: 10pt Times New Roman , Times, serif; color: rgb(0, 0, 0); margin: 0; text-align: center; text-indent: 0px"><b>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman , Times, serif; color: rgb(0, 0, 0); margin: 0; text-align: center; text-indent: 0px"><B>SIGNATURES</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant
to the requirements of the Securities Exchange Act of 1934, Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n, S.A.B. de C.V.
has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman , Times, serif; orphans: 2; text-transform: none; widows: 2; letter-spacing: normal; word-spacing: 0px; width: 100%">
  <tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td colspan="2"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt"><b>Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n, S.A.B. de C.V.</b></font></td></tr>
  <tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="width: 51%"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">Date: February 21, 2023</font></td>
    <td style="width: 6%"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">By:</font></td>
    <td style="width: 43%"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">/s/ Enrique J. Beltranena Mejicano</font></td></tr>
  <tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">Name:</font></td>
    <td>Enrique J. Beltranena Mejicano</td></tr>
  <tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>Title:</td>
    <td>President and Chief Executive Officer</td></tr>
  <tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">By:</font></td>
    <td><font style="font-family: Times New Roman, Times, serif; font-size: 10pt">/s/ Jaime E. Pous Fern&aacute;ndez</font></td></tr>
  <tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-family: Times New Roman , Times, serif; font-size: 10pt">Name:</font></td>
    <td>Jaime E. Pous Fern&aacute;ndez</td></tr>
  <tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>Title:</td>
    <td>Chief Financial Officer</td></tr>
  </table>
<p style="color: rgb(0, 0, 0); font: 400 13.33px Times New Roman, Times, serif; margin: 0; text-indent: 0px">&nbsp;</p>

<p style="color: rgb(0, 0, 0); font: 400 13.33px Times New Roman, Times, serif; margin: 0; text-indent: 0px"></p>

<p style="margin: 0">&nbsp;</p>


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<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-align: center; text-indent: 0px"><b>EXHIBIT
INDEX</b></p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-indent: 0px">The following exhibit is filed
as part of this Form 6-K:</p>

<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-indent: 0px">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman , Times, serif; orphans: 2; text-transform: none; widows: 2; letter-spacing: normal; word-spacing: 0px; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom">
    <td style="text-align: center; border-bottom: black 1pt solid; white-space: nowrap; width: 9%">Exhibit</td>
    <td style="width: 3%">&nbsp;</td>
    <td style="border-bottom: black 1pt solid; white-space: nowrap; width: 88%">Description</td></tr>
  <tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
  <tr>
    <td style="text-align: center; white-space: nowrap; vertical-align: top"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt"><A HREF="ex99-1.htm">99.1</A></font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt"><A HREF="ex99-1.htm">Press release dated February 21, 2023 titled &ldquo;Volaris Reports Financial
Results for the Fourth Quarter and Full Year 2022.&rdquo;.&rdquo;</A></font></td></tr>
  </table>
<p style="color: rgb(0, 0, 0); font: 10pt Times New Roman , Times, serif; margin: 0; text-indent: 0px">&nbsp;</p>

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<SEQUENCE>2
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<DESCRIPTION>EX-99.1
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<P STYLE="margin: 0"></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: #FDFFFF; color: #323131">Analyst
coverage</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="vertical-align: top; background-color: #9D2782">
    <TD STYLE="width: 48%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Institution</B></FONT></TD>
    <TD STYLE="width: 52%; padding-right: -0.75pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: white"><B>Analyst</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Bank of America</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Rogerio Araujo</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Banorte</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Jos&eacute; Espitia</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Barclays</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Pablo Monsivais</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Bradesco</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Victor Mizusaki</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">BTG Pactual</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Lucas Marquiori</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Citi</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Stephen Trent</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Cowen</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Helane Becker</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Deutsche Bank</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Michael Linenberg</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Evercore</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Duane Pfennigwerth</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Goldman Sachs</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Bruno Amorim</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">HSBC</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Cenk Or&ccedil;an</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Intercam</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Alejandra Marcos</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">J.P.Morgan</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Fernando Abdalla</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Morgan Stanley</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Joshua Milberg</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">UBS</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Alberto Valerio</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Santander</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Giovanni Bisogno</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Signum Research</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Armando Rodr&iacute;guez </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Vector</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Marco Antonio Monta&ntilde;ez</FONT></TD></TR>
  </TABLE>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Annex - Financial derivate instruments</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B><I>1)</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Management&rsquo;s discussion about derivative financial instrument
policies explaining whether these policies allow them to be used only for hedging or other purposes such as trading.</I></B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company&acute;s activities
are exposed to different financial risks resulting from exogenous variables that are not under its control, but whose effects can be potentially
adverse. The Company&rsquo;s global risk management program is focused on existing uncertainty in the financial markets and is intended
to minimize potential adverse effects on net earnings and working capital requirements. Volaris uses derivative financial instruments
to mitigate part of these risks and does not acquire financial derivative instruments for speculative or trading purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company has a Risk Management
team which identifies and evaluates the exposure to different financial risks, it is also in charge of designing strategies to mitigate
them. Accordingly, it has a Hedging Policy in place and procedures related thereto, on which those strategies are based. All policies,
procedures and strategies are approved by different administrative entities based on the Corporate Governance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Hedging Policy, as well
as its processes are approved by different administrative entities according to the Corporate Governance. The Hedging Policy establishes
that derivative financial instrument transactions will be approved and implemented/monitored by certain committees. Compliance with the
Hedging Policy and its procedures are subject to internal and external audits as well as a Corporate Governance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Hedging Policy holds
a conservative position regarding derivative financial instruments, since it only allows the company to enter into positions that are
correlated with the primary position to be hedged (in accordance with International Financial Reporting Standards&nbsp;<I>&ldquo;IFRS&rdquo;</I>,
under which the Company prepares its financial information). The Company&rsquo;s objective is to apply hedge accounting treatment to all
derivative financial instruments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Volaris aims to transfer
a portion of market risk to its financial counterparties through the use of derivative financial instruments, described as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Fuel price fluctuation risk: Volaris&rsquo; contractual agreements with
its fuel suppliers are linked to the market price index of the underlying asset; therefore, it is exposed to an increase in such price.&nbsp;Volaris
enters into derivative financial instruments to hedge against significant increases in the fuel price. The instruments are traded on over
the counter (&ldquo;OTC&rdquo;) markets, with approved counterparties and within limits specified on the Hedging Policy. Asian financial
instruments used by the Company, compensate the fluctuations in a more precise way, as the payment takes the average of the price of the
underlying asset provided by Volaris' main fuel supplier. As of the date of this report, Volaris does not have fuel derivative financial
instruments.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Foreign currency risk: The Company's exposure to foreign currency risk in
exchange rates is mainly related to its operating activities (that is, when income or expenses are denominated in another currency other
than the functional currency of the Company). The majority of this exposure is related to payments and / or denominated in US dollars.
As of the date of presentation of this report, Volaris does not have foreign exchange derivative financial instruments.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Interest rate variation risk: The Company&rsquo;s exposure to the risk of
changes in market interest rates is related primarily to the Company&rsquo;s debt obligations and operating lease with floating interest
rates. The Company enters into derivative financial instruments in order to hedge a portion of such exposure, for which it uses interest
rate swaps and options. These instruments are recognized as hedge accounting within the caption of the primary hedged position. As of
the date of this report, the Company holds interest rate CAPs with TIIE 28 as underlying for the Asset Back Trust Notes.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Derivative financial instruments may require the granting
of certain amounts as collateral over the portion of the loss not settled before maturity. The amount of collateral delivered in pledge,
is recorded as part of &ldquo;guarantee deposits&rdquo;. It is assessed reviewed and adjusted accordingly daily based on the fair value
of the derivative financial instrument position.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Trading markets and eligible
counterparties&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company only operates
in over the counter (&ldquo;OTC&rdquo;) markets. To minimize counterparty risk, the Company enters into ISDA agreements with counterparties
with recognized financial capacity; therefore, significant risks of default on any of them are not foreseen. As of December 31, 2022,
the Company has 8 ISDAs in place with different financial institutions and no activity was registered during the fourth quarter 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company only operates
with financial counterparties with which it has an ISDA contract, except for the Asset Back Trust Notes CAPs. Those agreements have a
Credit Support Annex (&quot;CSA&quot;) section, which sets credit conditions and guidelines for margin calls that are stipulated therein,
including minimum amounts and rounding off. The contracting of derivative financial instruments is distributed among the different counterparties
with the purpose of avoiding that their exposure falls on a single counterparty and making more efficient the use of the financial conditions
of the different CSA, thus minimizing the potential margin calls.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>2)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Generic description of the valuation techniques, distinguishing instruments
that are valued at cost or fair value, as well as valuation methods and techniques.</I></B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The designation of calculation
agents is documented at the ISDAs whereby Volaris operates. The Company uses the valuations provided by the financial institutions of
each derivative financial instrument. That fair value is compared with internally developed valuation techniques which use valid and recognized
methodologies through which the fair value of derivative financial instruments is estimated based on the prices and variables quoted in
the market of the assets of reference using Bloomberg as the main source of information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In accordance with International
Financial Reporting Standards (&quot;IFRS&quot;), the Company elaborate its financial statements; Volaris performs prospective effectiveness
tests, as well as hedging records in which derivative financial instruments are classified in accordance with the type of underlying asset
(monitored and updated constantly). As of the date of presentation of this report, all the Company's derivative financial instruments
are considered effective and therefore classified to be recorded under hedge accounting assumptions.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>3)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Management discussion on internal and external sources of liquidity
that could be used to meet the requirements related to derivative financial instruments.</I></B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0; margin-right: 0; margin-left: 0; background-color: white">The
contracting of derivative financial instruments is distributed among the various counterparties with which the Company has signed a CSA,
with the purpose of making the use of financial conditions more efficient; with the above, it manages to avoid that the exposure falls
on a single counterparty. In the same way, different instruments and maturities are used to minimize potential margin calls. If the measures
mentioned before were not sufficient, the Company has internal resources to meet the requirements related to derivative financial instruments.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt"><FONT STYLE="font-size: 10pt"><B>4)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Explanation of changes in exposure to the main risks identified and
in managing them, as well as contingencies and events known or expected by management that can affect future reports.</I></B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The activities of the Company
are exposed to different financial risks, among which the risk of fluctuations in the price of fuel, the risk of fluctuations in exchange
rates and the risk of variations in market interest rates stand out. During the fourth quarter of 2022, there was no evidence of significant
changes that could modify the exposure to the risks described above, a situation that can change in the future.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>5)</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B><I>Quantitative information</I></B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of the date of this report, all the derivative
financial instruments held by the Company qualified as hedge accounting; for this reason, the changes in their fair value will only be
the result of changes in the price levels of the underlying asset, and it will not modify the objective of the hedge for which it was
initially entered for.</P>

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

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



<P STYLE="margin: 0"></P>

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

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>List of accounting policies</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Basis of preparation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Statement of compliance</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; text-align: justify">The unaudited condensed consolidated interim financial
statements, which include the condensed consolidated statements of financial position as of December 31, 2022 (unaudited) and December
31, 2021 (figures in US dollar unaudited) and the condensed consolidated statements of operations, comprehensive income, for the three
and twelve month period ended December 31, 2022 and 2021 (unaudited), changes in equity and cash flows for the twelve months ended December
31, 2022 and 2021 (unaudited), have been prepared in accordance with International Accounting Standard (&ldquo;IAS&rdquo;) 34 <I>Interim
Financial Reporting</I> and using the same accounting policies applied in preparing the annual financial statements, except as explained
below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The unaudited condensed consolidated interim financial
statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction
with the Company&rsquo;s annual consolidated financial statements as of December&nbsp;31, 2021, and 2020 (audited).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Items included in the unaudited condensed consolidated
interim financial statements of each of the Company&rsquo;s entities are measured using the currency of the primary economic environment
in which each entity operates (&ldquo;functional currency&rdquo;). The functional currency of Controladora and its subsidiary Concesionaria
is the US dollar. The presentation currency of the Company&rsquo;s unaudited condensed consolidated interim financial statements is the
US dollar. All values in the unaudited condensed consolidated interim financial statements are rounded to the nearest thousand (US$000),
except when otherwise indicated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has consistently applied its accounting
policies to all periods presented in these financial statements and provide comparative information in respect of the previous period.</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; text-align: justify"><B>Basis of measurement and presentation</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; text-align: justify">The accompanying unaudited condensed consolidated
interim financial statements have been prepared under the historical-cost convention, except for derivative financial instruments that
are measured at fair value.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of the unaudited condensed consolidated
interim financial statements in accordance with IFRS requires management to make estimates and assumptions that affect the amounts reported
in the accompanying unaudited condensed consolidated interim financial statements and notes. Actual results could differ from those estimates.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>a)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Basis of consolidation</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed consolidated
interim financial statements comprise the financial statements of the Company and its subsidiaries. On December 31, 2022 (unaudited)
and December&nbsp;31, 2021 (figures in US dollar unaudited), for accounting purposes the companies included in the unaudited condensed
consolidated interim financial statements are as follows:&nbsp;&nbsp;<FONT STYLE="font-size: 11pt; line-height: 105%">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Name</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Principal</B></P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Activities</B></P></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Country</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt"><B>% Equity interest</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>2022</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">2021</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 41%; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt; letter-spacing: -0.1pt">Concesionaria Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n S.A. P. I. de C.V.</FONT> <FONT STYLE="font-size: 7pt"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 37%; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Air transportation services for passengers, cargo and mail throughout Mexico and abroad </FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt; letter-spacing: -0.1pt">Vuela Aviaci&oacute;n, S.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Air transportation services for passengers, cargo and mail in Costa Rica and abroad</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Costa Rica</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt; letter-spacing: -0.1pt">Vuela, S.A. (&ldquo;Vuela&rdquo;) *</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Air transportation services for passengers, cargo and mail in Guatemala and abroad </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Guatemala</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt; letter-spacing: -0.1pt">Vuela El Salvador, S.A. de C.V.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Air transportation services for passengers, cargo and mail in El Salvador and abroad</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Comercializadora Volaris, S.A. de C.V. (&ldquo;Comercializadora&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Merchandising of services </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Servicios Earhart, S.A.*</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Rendering specialized services to its affiliates</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Guatemala</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Servicios Corporativos Volaris, S.A. de C.V. <BR>
&nbsp;(&ldquo;Servicios Corporativos&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Rendering specialized services to its affiliates</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Comercializadora V Frecuenta, S.A. de C.V. <BR>
&nbsp;(&ldquo;Loyalty Program&rdquo;) **</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Loyalty Program</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Viajes Vuela, S.A. de C.V. (&ldquo;Viajes Vuela&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Travel agency</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Guatemala Dispatch Service, S.A., (&ldquo;GDS, S.A.&rdquo;) <SUP>(4) </SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Aeronautical Technical Services</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Guatemala </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 0">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 0">1710 <SUP>(1)</SUP></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 0">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 0">1711 <SUP>(2)</SUP></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero F/307750 &ldquo;Administrative Trust&rdquo; ***</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Share administration trust </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero F/745291 &ldquo;Administrative Trust&rdquo;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Share administration trust </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Fideicomiso de Administraci&oacute;n n&uacute;mero CIB/3081 &ldquo;Administrative Trust&rdquo;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Share administration trust </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>100%</B></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center">100%</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero CIB/3249 &ldquo;Administrative Trust&rdquo;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Asset backed securities trustor &amp; administrator </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3853 <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3855 <SUP>(6)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3866 <SUP>(6)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3867 <SUP>(7)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S. A, Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3921 <SUP>(8)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">*The Companies have not started operations yet in Guatemala.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">**The Company has not started operations yet.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">***The Trust was terminated on August 9, 2022.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(1)</TD><TD>With effect from October 16, 2020, the Successor of the Trust 1710 was changed from Deutsche Bank M&eacute;xico, S.A. to CIBanco,
S.A., Instituci&oacute;n de Banca M&uacute;ltiple.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(2)</TD><TD>With effect from October 16, 2020, the Successor of the Trust 1711 was changed from Deutsche Bank M&eacute;xico, S.A. to CIBanco,
S.A., Instituci&oacute;n de Banca M&uacute;ltiple.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(3)</TD><TD>With effect from August 31,2021, the Company merged with Servicios Administrativos Volaris, S.A. de C.V. (the merged company).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(4)</TD><TD>The Company was acquired on October 5, 2021.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(5)</TD><TD>With effect from June 8, 2022, the trust was constituted.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(6)</TD><TD>With effect from April 1st, 2022, the trusts were constituted.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(7)</TD><TD>With effect from April 13, 2022, the trust was constituted.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(8)</TD><TD>With effect from July 21, 2022, the trust was constituted.</TD></TR></TABLE>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial statements of the subsidiaries are prepared
for the same reporting period as the parent Company, using consistent accounting policies.</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; text-align: justify">Control is achieved when the Company is exposed, or
has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over
the investee. Specifically, the Company controls an investee if, and only if, the Company has:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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: 21.3pt">(i)</TD><TD>Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee).</TD></TR></TABLE>

<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: 21.3pt">(ii)</TD><TD STYLE="text-align: justify">Exposure, or rights, to variable returns from its involvement with the investee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The ability to use its power over the investee to affect its returns.</FONT>&nbsp;</TD></TR></TABLE>

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


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When the Company has less than a majority of the voting
or similar rights of an investee, the Company considers all relevant facts and circumstances in assessing whether it has power over an
investee, including:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The contractual arrangement
with the other vote holders of the investee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rights arising from other
contractual arrangements, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&rsquo;s voting
rights and potential voting rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company re-assesses whether or not it controls
an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation
of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary.
Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the condensed consolidated
financial statements from the date the Company gains control until the date the Company ceases to control the subsidiary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All intercompany balances, transactions, unrealized
gains and losses resulting from intercompany transactions are eliminated in full on consolidation in the condensed consolidated financial
statements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On consolidation, the assets and liabilities of foreign
operations are translated into US dollar at the exchange rates prevailing at the reporting date and their statements of profit or loss
are translated at the average exchange rates prevailing at the time. The exchange differences arising on translation for consolidation
are recognized in other comprehensive income (&ldquo;OCI&rdquo;). On disposal of a foreign operation, the component of OCI relating to
that particular foreign operation is recognized in profit or loss.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>b)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Revenue recognition</B></FONT></TD></TR></TABLE>

<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>Passenger revenues</B></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; text-align: justify">Revenues from the air transportation of passengers
are recognized at the earlier of when the service is provided or when the non-refundable ticket expires at the date of the scheduled travel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ticket sales for future flights are initially recognized
as contract liabilities under the caption &ldquo;unearned transportation revenue&rdquo; and, once the transportation service is provided
by the Company or when the non-refundable ticket expires at the date of the scheduled travel, the earned revenue is recognized as passenger
ticket revenues and the unearned transportation revenue is reduced by the same amount. All the Company&rsquo;s tickets are non-refundable
and are subject to change upon a payment of a fee. Additionally, the Company does not operate a frequent flier program.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The most significant passenger revenue includes revenues
generated from: (i) fare revenue and (ii) other passenger revenues. Other passenger services include but are not limited to fees charged
for excess baggage, bookings through the call center or third-party agencies, advanced seat selection, itinerary changes and charters.
They are recognized as revenue when the obligation of passenger transportation service is provided by the Company or when the non-refundable
ticket expires at the date of the scheduled travel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also classifies as other passenger revenue
&ldquo;V Club&rdquo; and other similar services, which are recognized as revenue over time when the service is provided.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Non-passenger revenues</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The most significant non-passenger revenues include
revenues generated from: (i) revenues from other non-passenger services described below and (ii) cargo services.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenues from other non-passenger services mainly
include but are not limited to commissions charged to third parties for the sale of hotel reservations, trip insurance, rental cars and
advertising spaces to third parties. They are recognized as revenue at the time the service is provided.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also evaluated the principal versus agent
considerations as it relates to certain non-air travel services arrangements with third party providers. No changes were identified under
this analysis as the Company is agent for those services provided by third parties.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Code-share agreement </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company sells certain tickets with connecting
flights with one or more segments operated by its other airline partner. For segments operated by its other airline partner, the Company
has determined that it is acting as an agent on behalf of the other airline as is responsible for its portion of the contract (i.e., transportation
of the passenger). The Company, as the agent, recognizes revenue within other operating revenue at the time of the travel, for the net
amount retained by the Company for any segments flown by other airline.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 16, 2018, the Company and Frontier Airlines
(herein after Frontier) entered into a code-share operations agreement, which started operations in September 2018.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Through this alliance, the Company&acute;s customers
gain access to additional cities in the U.S. beyond the current available destinations as the Company&rsquo;s customers are able to buy
a ticket throughout any of Frontier&rsquo;s actual destinations; and Frontier customers gain first-time access to new destinations in
Mexico through Volaris presence in Mexican airports.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Code-share tickets can be purchased directly from
the Volaris&rsquo; website. The airline that provides the transportation recognize the revenue when the service is provided.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Other considerations analyzed as part of revenue
from contracts with customers</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All revenues offered by the Company including sales
of tickets for future flights, other passenger related services and non-passenger revenue must be paid through a full cash settlement.
The payment of the transaction price is equal to the cash settlement from the client at the sales time (using different payment options
like credit or debit cards, paying through a third party or directly at the counter in cash). There is little or no judgment to determine
the point in time of the revenue recognition, and the amount of it. Even if mainly all the sales of services are initially recognized
as contract liabilities, there is no financing component in these transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The cost to obtain a contract is represented by the
commissions paid to the travel agencies and the bank commissions charged by the financial institutions for processing electronic transactions.
The Company does not incur any additional costs to obtain and fulfill a contract that is eligible for capitalization.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Trade receivables are mainly with financial institutions
due to transactions with credit and debit cards, and therefore they are non-interest bearing and are mainly on terms of 24 to 48 hours.
The Company has the right of collection at the beginning of the contracts and there are no discounts, payment incentives, bonuses, or
other variable considerations subsequent to the purchase that could modify the amount of the transaction price.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&acute;s tickets are non-refundable. However,
if the Company cancels a flight for causes attributable to the airline, including as a result of the COVID-19 pandemic, then the passenger
is entitled to either move their flight at no cost, receive a refund or a voucher. No revenue is recognized until either the voucher is
redeemed, and the associate flight occurs, or the voucher expires. When vouchers issued exceed the amount of the original amount paid
by the passenger the excess is recorded as reduction of the operating revenues. All of the Company&acute;s revenues related to future
services are rendered through an approximate period of 12 months.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>c)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Cash, cash equivalents and restricted cash</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash and cash equivalents are represented by bank
deposits and highly liquid investments with maturities of 90 days or less at the original purchase date. For the purposes of the consolidated
statements of cash flows, cash and cash equivalents consist of cash and short-term investments as defined above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has agreements with financial institutions
that process customer credit card transactions for the sale of air travel and other services. These credit card processing agreements
don&rsquo;t have significant cash reserve requirements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Restricted cash are used to constitute the debt service
reserves and cannot be used for purposes other than those established.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>d)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT> <FONT STYLE="font-size: 10pt">Financial instruments -initial recognition and subsequent measurement</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A financial instrument is any contract that gives
rise to a financial asset for one entity and a financial liability or equity instrument for another entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>i) Financial assets</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Classification of financial assets and initial
recognition</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company determines the classification and measurement
of financial assets, in accordance with the categories in IFRS 9, which are based on both: the characteristics of the contractual cash
flows of these assets and the business model objective for holding them.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial assets include those carried at FVTPL, whose
objective to hold them is for trading purposes (short-term investments), or at amortized cost, for accounts receivables held to collect
the contractual cash flows, which are characterized by solely payments of principal and interest (&ldquo;SPPI&rdquo;). Derivative financial
instruments are also considered financial assets when these represent contractual rights to receive cash or another financial asset. All
the Company&rsquo;s financial assets are initially recognized at fair value, including derivative financial instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The subsequent measurement of financial assets depends
on their initial classification, as is described below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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: 21.3pt">1.</TD><TD STYLE="text-align: justify">Financial assets at FVTPL which include financial assets held for trading.</TD></TR></TABLE>

<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: 21.3pt">2.</TD><TD STYLE="text-align: justify">Financial assets at amortized cost, whose characteristics meet the SPPI criterion and were originated
to be held to collect principal and interest in accordance with the Company&rsquo;s business model.</TD></TR></TABLE>

<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: 21.3pt">3.</TD><TD STYLE="text-align: justify">Financial assets at fair value through OCI with recycling of cumulative gains and losses.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -21.3pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A financial asset (or, where applicable, a part of
a financial asset or part of a group of similar financial assets) is derecognized when:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 11pt">a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The rights to receive cash flows from the asset have expired; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -21.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 11pt">b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Company has transferred its rights to receive cash flows from the asset
or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a &lsquo;pass-through&rsquo;
arrangement; and either (i) the Company has transferred substantially all the risks and rewards of the asset, or (ii) the Company has
neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset; or </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">When the Company has transferred its rights
to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent it has retained
the risks and rewards of ownership. When it has neither transferred nor retained substantially all the risks and rewards of the asset,
nor transferred control of the asset, the asset is recognized to the extent of the Company&rsquo;s continuing involvement in the asset.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In that case, the Company also recognizes an associated
liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the
Company has retained.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ii) Impairment of financial assets</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company assesses at each reporting date, whether
there is objective evidence that a financial asset or a group of financial assets is credit - impaired. A financial
asset is credit- impaired when one or more events have occurred since the initial recognition of an asset (an incurred &lsquo;loss event&rsquo;),
that has an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Evidence that a financial asset is credit - impaired
may of impairment may include indications that the debtors or a group of debtors is experiencing significant financial difficulty, default
or delinquency in receivable, the probability that they will enter bankruptcy or other financial reorganization and observable data indicating
that there is a measurable decrease in the estimated cash flows, such as changes in arrears or economic conditions that correlate with
defaults. Further disclosures related to impairment of financial assets are also provided.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For trade receivables, the Company applies a simplified
approach in calculating expected credit losses (ECLs). Therefore, the Company does not track changes in credit risk, but instead recognizes
a loss allowance based on lifetime ECLs at each reporting date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on this evaluation, allowances are taken into
account for the expected losses of these receivables.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>iii) Financial liabilities</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Initial recognition and measurement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial liabilities are classified, at initial recognition,
as financial liabilities at FVTPL, including loans and borrowings, accounts payables to suppliers, unearned transportation revenue, other
accounts payable and financial instruments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All financial liabilities are recognized initially
at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The measurement of financial liabilities depends on
their classification as described below:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Financial liabilities at amortized cost</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts payable, are subsequently measured at amortized
cost and do not bear interest or result in gains and losses due to their short-term nature.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Loans and borrowings are the category most relevant
to the Company. After initial recognition at fair value (consideration received), interest bearing loans and borrowings are subsequently
measured at amortized cost using the effective interest rate method (EIR). Gains and losses are recognized in profit or loss when the
liabilities are derecognized as well as through the EIR amortization process.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Amortized cost is calculated by taking into account
any discount or premium on issuance and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance
costs in the consolidated statements of operations. This amortized cost category generally applies to interest-bearing loans and borrowings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Financial liabilities at FVTPL</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial liabilities at FVTPL include financial
liabilities under the fair value option, which are classified as held for trading, if they are acquired for the purpose of selling
them in the near future. This category includes derivative financial instruments that are not designated as hedging instruments in
hedge relationships as defined by IFRS 9.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A financial liability is derecognized when the obligation
under the liability is discharged or cancelled or expires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When an existing financial liability is replaced
by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such
an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The difference in the respective carrying amounts
is recognized in the consolidated statements of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Offsetting of financial instruments</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial assets and financial liabilities are offset,
and the net amount is reported in the consolidated statement of financial position if there is:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 11pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">A currently enforceable legal right to offset the recognized amounts, and
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 11pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">An intention to settle on a net basis, to realize the assets and settle
the liabilities simultaneously.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>e)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Other accounts receivable</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Other accounts receivable are due primarily from major
credit card processors associated with the sales of tickets and are stated at cost less allowances made for credit losses, which approximates
fair value given their short-term nature.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>f)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Inventories</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories consist primarily of flight equipment
expendable parts, materials and supplies, and are initially recorded at acquisition cost. Inventories are carried at the lower of cost
and their net realization value. The cost is determined based on the method of specific identification and expensed when used in operations.
The Company recognizes the necessary estimates for decreases in the value of its inventories due to impairment, obsolescence, slow movement
and causes that indicate that the use or realization of the aircraft spare parts and flight equipment accessories that are part of the
inventory will be less than recorded value. The cost of inventories is determined based on the specific identification method and is recorded
as an expense as it is used in operations.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>g)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Intangible assets</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost related to the purchase or development of computer
software that is separable from an item of related hardware is capitalized separately measured at cost and amortized over the period in
which it will generate benefits not exceeding five years on a straight-line basis. The Company annually reviews the estimated useful lives
and salvage values of intangible assets and any changes are accounted for prospectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company records impairment charges on intangible
assets used in operations when events and circumstances indicate that the assets or related cash generating unit may be impaired and the
carrying amount of a long-lived asset or cash generating unit exceeds its recoverable amount, which is the higher of (i) its fair value
less cost to sell, and (ii) its value in use.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The value in use calculation is based on a discounted
cash flow model, using our projections of operating results for the near future. The recoverable amount of long-lived assets is sensitive
to the uncertainties inherent in the preparation of projections and the discount rate used in the calculation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Software</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; text-align: justify">Acquired computer software licenses are capitalized
on the basis of cost incurred to acquire, implement and bring the software into use. Costs associated with maintaining computer software
programs are expensed as incurred. In case of development or improvement to systems that will generate probable future economic benefits,
the Company capitalizes software development costs, including directly attributable expenditures on materials, labor, and other direct
costs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Acquired software cost is amortized on a straight-line
basis over its useful life. Licenses and software rights acquired by the Company have finite useful lives and are amortized on a straight&ndash;line
basis over the term of the contract. Amortization expense is recognized in the consolidated statements of operations.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>h)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Assets held for sale</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Assets held for sale Individual,
formerly non-current assets or groups of assets that are expected to be sold within the next twelve months are measured at the lower of
their carrying amount at the time they are reclassified and fair value less costs to sell. Fair value less costs to sell is derived from
recent market transactions, if available.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>i)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Guarantee deposits</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Guarantee deposits consist primarily of aircraft maintenance
deposits paid to lessors, deposits for rent of flight equipment and other guarantee deposits. Aircraft and engine deposits are held by
lessors in U.S. dollars and are presented as current assets and non-current assets, based on the recovery dates of each deposit established
in the related agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Deposits for flight equipment maintenance paid
to lessors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Most of the Company's lease contracts stipulate the
obligation to pay maintenance deposits to aircraft lessors, in order to guarantee major maintenance work.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These lease agreements establish that maintenance
deposits are reimbursable to the Company at the time the major maintenance event is concluded for an amount equal to: (i) the maintenance
deposit held by the lessor associated with the specific maintenance event, or (ii) the qualifying costs related to the specific maintenance
event.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Substantially all major maintenance deposits are generally
calculated based on the use of leased aircraft and engines (flight hours or operating cycles). The sole purpose of these deposits is to
guarantee to the lessor the execution of maintenance work on the aircraft and engines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Maintenance deposits that the Company expects to recover
from lessors are presented as security deposits in the consolidated statement of financial position. These deposits are recorded as a
monetary asset and are revalued to record changes in foreign currency in each reporting period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">According to the term of the lease, in each contract
it is evaluated whether major maintenance of the leased aircraft and engines is expected to be carried out. In the event that major maintenance
is not expected to be performed on its own account, the deposit is recorded as a variable lease payment, since it represents part of the
use of the leased goods and is determined based on time or flight cycles.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When modifications are made to the contracts that
entail an extension of the lease term, said maintenance deposits can be converted into recoverable deposits, in that case, to the date
of modification of the agreement. Deposits are considered a recoverable asset that is recognized as a decrease in the expense recognized
for variable leases.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain other aircraft lease agreements do not require
the obligation to pay maintenance deposits in advance to lessors to guarantee important maintenance activities; therefore, the Company
does not record or make payments for guarantee deposits with respect to these aircrafts. However, some of these lease agreements include
the obligation to make maintenance adjustment payments to lessors at the end of the lease period. These maintenance adjustments cover
maintenance events that are not expected to be performed before the termination of the lease; for such agreements, the Company accumulates
a liability related to the amount of the costs that will be incurred at the end of the lease, since no maintenance deposits have been
made.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>j)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Aircraft and engine maintenance</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is required to conduct various levels
of aircraft maintenance. Maintenance requirements depend on the type of aircraft, age and the route network over which it operates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fleet maintenance requirements may involve short cycle
engineering checks, for example, component checks, monthly checks, annual airframe checks and periodic major maintenance and engine checks.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Aircraft maintenance and repair consists of routine
and non-routine works, divided into three general categories: (i) routine maintenance, (ii) major maintenance and (iii) component service.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(i) Routine maintenance requirements consist of scheduled
maintenance checks on the Company&rsquo;s aircraft, including pre-flight, daily, weekly and overnight checks, any diagnostics and routine
repairs and any unscheduled tasks performed as required. These type of maintenance events are currently serviced by Company mechanics
and are primarily completed at the main airports that the Company currently serves.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All other maintenance activities are
sub-contracted to qualified maintenance business partner, repair and overhaul organizations. Routine maintenance also includes
scheduled tasks that can take from seven to 14 days to accomplish and are required approximately every 24 or 36 months, such as
24-month checks and C checks. All routine maintenance costs are expensed as incurred.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(ii) Major maintenance consists of a series of more
complex tasks that can take up to six weeks to accomplish and typically are required every five to six years.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Major maintenance is accounted for under the deferral
method, whereby the cost of major maintenance, major overhaul and repair is capitalized (leasehold improvements to flight equipment) and
amortized over the shorter of the period to the next major maintenance event or the remaining contractual lease term. The next major maintenance
event is estimated based on assumptions including estimated time of usage. The United States Federal Aviation Administration (&ldquo;FAA&rdquo;)
and the Mexican Federal Civil Aviation Agency <I>(Agencia Federal de Aviaci&oacute;n Civil- AFAC</I>) mandate maintenance intervals and
average removal times as suggested by the manufacturer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These assumptions may change based on changes in the
utilization of aircraft, changes in government regulations and suggested manufacturer maintenance intervals. In addition, these assumptions
can be affected by unplanned incidents that could damage an airframe, engine, or major component to a level that would require a heavy
maintenance event prior to a scheduled maintenance event. To the extent the planned usage increases, the estimated life would decrease
before the next maintenance event, resulting in additional expense over a shorter period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The amortization of deferred maintenance costs is
recorded as part of depreciation and amortization in the consolidated statements of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(iii) The Company has a power-by-the hour agreement
for component services, which guarantees the availability of aircraft parts for the Company&rsquo;s fleet when they are required. It also
provides aircraft parts that are included in the redelivery conditions of the contract (hard time) without constituting an additional
cost at the time of redelivery. The monthly maintenance cost associated with this agreement is recognized as incurred in the consolidated
statements of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">The Company has an engine flight hour agreement
(component repair agreement), that guarantees a cost per overhaul, provides miscellaneous engines coverage, caps the cost of foreign objects
damage events, ensures there is protection from annual escalations, and grants an annual credit for scrapped components. The cost associated
with the miscellaneous engines&rsquo; coverage is recorded monthly as incurred in the consolidated statements of operations.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>k)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Rotable spare parts, furniture and equipment, net</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Rotable spare parts, furniture and equipment, are
recorded at cost and are depreciated to estimated residual values over their estimated useful lives using the straight-line method.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Aircraft spare engines have significant components
with different useful lives; therefore, they are accounted for as separate items (major components) of spare engine parts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pre-delivery payments refer to prepayments made to
aircraft and engine manufacturers during the manufacturing stage of the aircraft. The borrowing costs related to the acquisition or construction
of a qualifying asset are capitalized as part of the cost of that asset.</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">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B>Depreciation rates are as follows:</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="width: 51%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Annual<BR>
depreciation rate</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Flight equipment &nbsp;</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">4.0-16.7%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Constructions and improvements</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Remaining contractual lease term</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Computer equipment</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">25%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Workshop tools</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">33.3%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Electric power equipment</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">10%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Communications equipment</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">10%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Workshop machinery and equipment</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">10%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Motorized transport equipment platform</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">25%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Service carts on board</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">20%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Office furniture and equipment</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 10pt">10%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 10pt">Leasehold improvements to flight equipment</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">The shorter of: (i) remaining
    contractual lease</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">term, or (ii) the next major
    maintenance event</P></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-align: justify">The Company reviews annually the useful lives of these
assets and any changes are accounted for prospectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company identified one Cash Generating Unit (CGU),
which includes the entire aircraft fleet and flight equipment. The Company assesses at each reporting date, whether there is objective
evidence that rotable spare parts, furniture and equipment and right of use asset are impaired in the CGU. The Company records impairment
charges on rotable spare parts, furniture and equipment and right of use assets used in operations when events and circumstances indicate
that the assets may be impaired or when the carrying amount of a long-lived asset or related cash generating unit exceeds its recoverable
amount, which is the higher of (i) its fair value less cost to sell and (ii) its value in use.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The value in use calculation is based on a discounted
cash flow model, using projections of operating results for the near future. The recoverable amount of long-lived assets is sensitive
to the uncertainties inherent in the preparation of projections and the discount rate used in the calculation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2022, and for the year ended 31
of December 2021, the Company reviewed through an analysis if there were signs of impairment, according to the result it was concluded
there not did not signs of impairment.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>l)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Foreign currency transactions and exchange differences</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s consolidated financial statements
are presented in U.S. dollars, which is the presentation and functional currency of the parent company. For each subsidiary, the Company
determines the functional currency and items included in the financial statements of each entity are measured using the currency of the
primary economic environment in which each entity operates (&ldquo;the functional currency&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial statements of foreign subsidiaries prepared
under IFRS and denominated in their respective local currencies different from its functional currency are translated into their functional
currency as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Transactions in foreign currencies are translated into the respective functional
currencies at the exchange rates at the dates of the transactions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">All monetary assets and liabilities are translated into the functional currency
at the exchange rate at the consolidated statement of financial reporting date. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">All non-monetary items that are measured based on historical cost in a foreign
currency are translated at the exchange rate at the date of the transaction.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Equity accounts are translated at the prevailing exchange rate at the time
the capital contributions were made, and the profits were generated.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Revenues, costs and expenses are translated at the average exchange rate
during the applicable period.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any differences resulting from the currency functional
translation are recognized in the consolidated statements of operations.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company's consolidated financial statements are
presented in U.S. dollars. Assets and liabilities from foreign subsidiaries are converted from the functional currency to the presentation
currency at the exchange rate on the reporting date; revenues and expenses are translated at each month during the year at the monthly
average exchange rate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Foreign currency differences arising on translation
into the presentation currency are recognized in OCI.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><B>m) Liabilities
and provisions</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; text-align: justify">Provisions are recognized when the Company has a present
obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits
will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time
value of money is material, provisions are discounted using a current pre-tax rate that reflects, where appropriate, the risks specific
to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>n)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee benefits</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>i) Personnel vacations</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company and its subsidiaries in Mexico and Central
America recognize a reserve for the costs of paid absences, such as vacation time, based on the accrual method.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ii) Termination benefits </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes a liability and expense for
termination benefits at the earlier of the following dates:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">a) When it can no longer withdraw the offer of those
benefits; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">b) When it recognizes costs for a restructuring that
is within the scope of IAS 37, <I>Provisions, Contingent Liabilities and Contingent Assets</I>, and involves the payment of termination
benefits.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is demonstrably committed to a termination
when, and only when, it has a detailed formal plan for the termination and is without realistic possibility of withdrawal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>iii) Seniority premiums&#9;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with Mexican Labor Law, the Company
provides seniority premium benefits to the employees which rendered services to its Mexican subsidiaries under certain circumstances.
These benefits consist of a one-time payment equivalent to 12 days&rsquo; wages for each year of service (at the employee&rsquo;s most
recent salary, but not to exceed twice the legal minimum wage), payable to all employees with 15 or more years of service, as well as
to certain employees terminated involuntarily prior to the vesting of their seniority premium benefit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Obligations relating to seniority
premiums other than those arising from restructurings, are recognized based upon actuarial calculations and are determined using the projected
unit credit method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">The latest actuarial computation
was prepared as of December 31, 2022. Remeasurement gains and losses are recognized in full in the period in which they occur in OCI.
Such remeasurement gains and losses are not reclassified to profit or loss in subsequent periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The defined benefit asset or liability comprises the
present value of the defined benefit obligation using a discount rate based on government bonds, less the fair value of plan assets out
of which the obligations are to be settled.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For entities in Costa Rica, Guatemala and El Salvador
there is no obligation to pay seniority premium, these countries have Post- Employee Benefits.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>iv) Incentives</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has a quarterly incentive plan for certain
personnel whereby cash bonuses are awarded for meeting certain performance targets. These incentives are payable shortly after the end
of each quarter and are accounted for as a short-term benefit under IAS 19, <I>Employee Benefits</I>. A provision is recognized based
on the estimated amount of the incentive payment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has a short-term benefit plan for certain
key personnel whereby cash bonuses are awarded when certain Company&rsquo;s performance targets are met. These incentives are payable
shortly after the end of each year and also are accounted for as a short-term benefit under IAS 19. A provision is recognized based on
the estimated amount of the incentive payment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>v) Long-term incentive plan (&ldquo;LTIP&rdquo;)
and long-term retention plan (LTRP)</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has adopted a Long-term incentive plan
(&ldquo;LTIP&rdquo;). This plan consists of a share purchase plan (equity-settled) and a share appreciation rights &ldquo;SARs&rdquo;
plan (cash settled), and therefore accounted under IFRS 2 &ldquo;Share based payment&rdquo;. This incentive plan has been granting annual
extensions in the same terms from the original granted in 2014.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company measures the cost of its equity-settled
transactions at fair value at the date the equity benefits are conditionally granted to employees. The cost of equity-settled transactions
is recognized in the statement of operations, together with a corresponding increase in treasury shares, over the period in which the
performance and/or service conditions are fulfilled. For grants that vest on meeting performance conditions, compensation cost is recognized
when it becomes probable that the performance condition will be met.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During 2021, the Company approved a new long-term
retention plan (&ldquo;LTRP&rdquo;), which consisted in a purchase plan (equity-settled). This plan does not include cash compensations
granted through appreciation rights on the Company&rsquo;s shares. The retention plans granted in previous periods will continue in full
force and effect until their respective due dates and the cash compensation derived from them will be settled according to the conditions
established in each plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>vi) Share-based payments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>a) LTIP </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- Share purchase plan (equity-settled)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">Certain key employees of the Company receive
additional benefits through a share purchase plan denominated in Restricted Stock Units (&ldquo;RSUs&rdquo;), which has been classified
as an equity-settled share-based payment. The cost of the equity-settled share purchase plan is measured at grant date, taking into account
the terms and conditions on which the share options were granted. The equity-settled compensation cost is recognized in the consolidated
statement of operations under the caption of salaries and benefits, over the requisite service period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">- SARs plan (cash settled)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The Company granted SARs to key employees,
which entitle them to a cash payment after a service period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">The amount of the cash payment is determined
based on the increase in the share price of the Company between the grant date and the time of exercise. The liability for the SARs is
measured, initially and at the end of each reporting period until settled, at the fair value of the SARs, taking into account the terms
and conditions on which the SARs were granted. The compensation cost is recognized in the consolidated statement of operations under the
caption of salaries and benefits, over the requisite service period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The cost of the SARs plan is measured initially at
fair value at the grant date. This fair value is expensed over the period until the vesting date with recognition of a corresponding liability.
Similar to the equity settled awards described above, the valuation of cash settled award also requires
using similar inputs, as appropriate.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><B>b) Management incentive plan (&ldquo;MIP&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- MIP I</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; text-align: justify">Certain key employees of the Company receive additional
benefits through a share purchase plan, which has been classified as an equity-settled share-based payment. The equity-settled compensation
cost is recognized in the consolidated statement of operations under the caption of salaries and benefits, over the requisite service
period. The total cost of this plan has been totally recognized during the required service period. December 31, 2021 all share options
were exercised.</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; text-align: justify">- MIP II</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February&nbsp;19, 2016, the Board of Directors
of the Company authorized an extension to the MIP for certain key employees. Such extension was modified and approved on November 6, 2016,
under MIP II, 13,536,960 share appreciation rights, or SARs, of our Series A shares were granted to be settled annually in cash in a period
of five years in accordance with the established service conditions. Addition, a five-year extension to the period (2022-2026) in which
the executives can exercise MIP II once the SARs are vested was also approved.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with this plan, the Company granted
SARs to key employees, which entitle them to a cash payment after a service period. The amount of the cash payment is determined based
on the increase in the share price of the Company between the grant date and the time of exercise. The liability for the SARs is measured
initially and at the end of each reporting period until settled at the fair value of the SARs, taking into account the terms and conditions
on which the SARs were granted. The compensation cost is recognized in the consolidated statement of operations under the caption of salaries
and benefits, over the requisite service period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>c) Board of Directors Incentive Plan (BoDIP)</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain members of the Board of Directors of the Company
receive additional benefits through a share-based plan, which has been classified as an equity-settled share-based payment and therefore
accounted under IFRS 2 &ldquo;Share based payment&rdquo;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In April 2018, the Board of Directors of the Company
authorized a Board of Directors Incentive Plan &ldquo;BoDIP&rdquo;, for the benefit of certain board members. The BoDIP grants options
to acquire shares of the Company or CPOs during a five-year period, which was determined on the grant date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under this plan, no service or performance conditions
are required to the board members for exercise the option to acquire shares, and therefore, they have the right to request the delivery
of those shares at the time they pay for them.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>vii) Employee profit sharing</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Mexican Income Tax Law (&ldquo;MITL&rdquo;), establishes
that the base for computing current year employee profit sharing shall be the taxpayer&rsquo;s taxable income of the year for income tax
purposes, including certain adjustments established in the Income Tax Law, at the rate of 10%. The Mexican Federal Labor Law (&ldquo;MFLL&rdquo;)
establishes a limit for employee profit sharing payment, up to three months of the employee&acute;s current salary or the average employee
profit sharing received by the employee in the previous three years. Subsidiaries in Central America do not have such profit-sharing benefit, as it
is not required by local regulations.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>o)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Leases</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company assesses at contract inception whether
a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period
in exchange for consideration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company applies a single recognition and measurement
approach for all leases, except for short-term leases and leases of low-value assets. The Company recognizes lease liabilities for payments
to be made under the lease term and right-of-use assets representing the right to use the underlying assets.</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>i.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Right-of-use assets</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes right-of-use assets at the
commencement date of the lease. Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized,
initial direct costs incurred, an estimate of costs to be incurred by the Company in dismantling and removing the underlying asset to
the condition required by the terms and conditions of the lease, and lease payments made at or before the commencement date less any lease
incentives received.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Components of the right-of-use assets are depreciated
on a straight-line basis over the shorter of the remining lease term and the estimated useful lives of the assets, as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Aircraft and engines </FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">up to 18 years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Spare engines</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">up to 18 years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Buildings leases</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">one to ten years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Maintenance component</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">up to eight years</FONT></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: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>ii.</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>Lease Liabilities</B></FONT></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-align: justify">At the commencement date of the lease, the Company
recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include
fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to
be paid under residual value guarantees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Variable lease payments that do not depend on an index
or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In calculating the present value of lease payments,
the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not
readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and
reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a
change in the lease term, a change in the lease payments or a change in the assessment of an option to purchase the underlying asset.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The short-term leases and leases of low value assets
are recognized as expense on a straight-line basis over the lease term.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the years ended December 31, 2022, and 2021,
there were no impairment charges recorded in respect of the Company right-of-use assets.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt"><B>iii.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Sale and leaseback</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company enters into sale and leaseback agreements
whereby an aircraft or engine is sold to a lessor upon delivery and the lessor agrees to lease such aircraft or engine back to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company measures the right-of-use asset arising
from the leaseback at the proportion of the previous carrying amount of the asset that relates to the right of use retained by the seller-lessee.
Accordingly, the Company recognizes in the Statement of Operations only the amount of any gain or loss that relates to the rights transferred
to the buyer-lessor. If the fair value of the consideration for the sale of an asset does not equal the fair value of the asset, or if
the payments for the lease are not at market rates, then the Company adjusts the difference to measure the sale proceeds at fair value
and accounts for any below-market terms as a prepayment of lease payments and any above market terms as additional financing provided
by the buyer-lessor to the seller-lessee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">First, the sale and leaseback transactions are analyzed
within the scope of IFRS 15 - Revenue from Contracts with Customers, in order to verify whether the performance obligation has been satisfied
and, therefore, are accounted for the sale of the asset. If this requirement is not met, it is a financing with the asset given as collateral.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the requirements related to the performance obligation
established in IFRS 15 are met, the Company measures an asset for right of use that arises from the sale transaction with subsequent lease
in proportion to the book value of the asset related to the right-of-use assets retained by the Company. Consequently, only the gains
or losses related to the rights transferred to the lessor-buyer are recognized.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>p)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Return obligations</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The aircraft lease agreements of the Company also
require that the aircraft components (airframe, APU and landing gears) and engines (overhaul and limited life parts) be returned to lessors
under specific conditions of maintenance. The costs of return, which in no case are related to scheduled major maintenance, are estimated,
and recognized ratably as a provision from the time it becomes likely such costs will be incurred and can be estimated reliably. These
return costs are recognized on a straight-line basis as a component of variable lease expenses and the provision is included as part of
other liabilities, through the remaining lease term. The Company estimates the provision related to aircraft components and engines using
certain assumptions including the projected usage of the aircraft and the expected costs of maintenance tasks to be performed. This provision
is made in relation to the present value of the expected future costs of meeting the return conditions.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>q)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Other taxes and fees payable</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is required to collect certain taxes and
fees from customers on behalf of government agencies and airports and to remit these to the applicable governmental entity or airport
on a periodic basis. These taxes and fees include federal transportation taxes, federal security charges, airport passenger facility charges,
and foreign arrival and departure fees. These charges are collected from customers at the time they purchase their tickets but are not
included in passenger revenue. The Company records a liability upon collection from the customer and discharges the liability when payments
are remitted to the applicable governmental entity or airport.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>r)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Income taxes</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Current income tax</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Current income tax assets and liabilities for the
current period are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used
to compute the amount are those that are enacted or substantively enacted, at the reporting date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Current income tax relating to items recognized directly
in equity is recognized in equity. Management periodically evaluates positions taken in the tax returns with respect to situations in
which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax is recognized in respect of temporary
differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting
date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax liabilities are recognized for all taxable
temporary differences, except, in respect of taxable temporary differences associated with investments in subsidiaries when the timing
of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the
foreseeable future.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax assets are recognized for all deductible
temporary differences, the carry-forward of unused tax credits and any available tax losses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax assets are recognized to the extent that
it is probable that taxable profit will be available against which the deductible temporary differences, and the carry-forward of unused
tax credits and available tax losses can be utilized, except, in respect of deductible temporary differences associated with investments
in subsidiaries deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse
in the foreseeable future and taxable profits will be available against which the temporary differences can be utilized.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company considers the following criteria in assessing
the probability that taxable profit will be available against which the unused tax losses or unused tax credits can be utilized: (a) whether
the entity has sufficient taxable temporary differences relating to the same taxation authority and the same taxable entity, which will
result in taxable amounts against which the unused tax losses or unused tax credits can be utilized before they expire; (b) whether it
is probable that the Company will have taxable profits before the unused tax losses or unused tax credits expire; (c) whether the unused
tax losses result from identifiable causes which are unlikely to recur; and (d) whether tax planning opportunities are available to the
Company that will create taxable profit in the period in which the unused tax losses or unused tax credits can be utilized.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The carrying amount of deferred tax assets is reviewed
at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow
all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at each reporting date and are recognized
to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax assets and liabilities are measured at
the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax
laws) that have been enacted or substantively enacted at the reporting date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax relating to items recognized outside
profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction in
OCI.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred tax assets and deferred tax liabilities are
offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate
to the same taxable entity and the same taxation authority.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income taxes are computed based on tax laws approved
in Mexico, Costa Rica, Guatemala and El Salvador at the date of the consolidated statement of financial position.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The IFRIC Interpretation 23 Uncertainty over
Income Tax Treatment addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application
of IAS 12 Income Taxes. It does not apply to taxes or levies outside the scope of IAS 12, nor does it specifically include
requirements relating to interest and penalties associated with uncertain tax treatments. The Interpretation specifically addresses
the following:&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Whether an entity considers uncertain tax treatments separately.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The assumptions an entity makes about the examination of tax treatments
by taxation authorities.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">How an entity determines taxable profit (tax loss), tax bases, unused tax
losses, unused tax credits and tax rates.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">How an entity considers changes in facts and circumstances.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company determines whether to consider each uncertain
tax treatment separately or together with one or more other uncertain tax treatments and uses the approach that better predicts the resolution
of the uncertainty.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company applies significant judgement in identifying
uncertainties over income tax treatments. Since the Company operates in a complex multinational environment, it assessed whether the Interpretation
had an impact on its consolidated financial statements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Upon adoption of the Interpretation, the Company considered
whether it has any uncertain tax positions, particularly those relating to transfer pricing. The Company&rsquo;s and the subsidiaries&rsquo;
tax filings in different jurisdictions include deductions related to transfer pricing and the taxation authorities may challenge those
tax treatments. The Company determined, based on its tax compliance and transfer pricing studies, that it is probable that its tax treatments
(including those for the subsidiaries) will be accepted by the taxation authorities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2022 and 2021 the Interpretation
did not have an impact on the consolidated financial statements of the Company.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>s)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Derivative and non-derivative financial instruments and hedge accounting</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">The Company mitigates
certain financial risks, such as volatility in the price of jet fuel, adverse changes in interest rates and exchange rate fluctuations, through a risk
management program that includes the use of derivative financial instruments and non-derivative financial instrument.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">In accordance
with IFRS 9, derivative financial instruments and non-derivative financial instruments are recognized in the consolidated statement of
financial position at fair value. At inception of a hedge relationship, the Company formally designates and documents the hedge relationship
to which it wishes to apply hedge accounting, as well as the risk management objective and strategy for undertaking the hedge. The documentation
includes the hedging strategy and objective, identification of the hedging instrument, the hedged item or transaction, the nature of the
risks being hedged and how the entity will assess the effectiveness of changes in the hedging instrument&rsquo;s fair value in offsetting
the exposure to changes in the hedged item&rsquo;s fair value or cash flows attributable to the hedged risk(s). </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">Only if such hedges
are expected to be effective in achieving offsetting changes in fair value or cash flows of the hedge item(s) and are assessed on an ongoing
basis to determine that they have been effective throughout the financial reporting periods for which they were designated, hedge accounting
treatment can be used.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">Under the cash
flow hedge (CFH) accounting model, the effective portion of the hedging instrument&rsquo;s changes in fair value is recognized in OCI,
while the ineffective portion is recognized in current year earnings in the statement of profit or loss. The cash flow hedge reserve is
adjusted to the lower of the cumulative gain or loss on the hedging instrument and the cumulative change in fair value of the hedged item.
The amounts recognized in OCI are transferred to earnings in the period in which the hedged transaction affects earnings.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">During the years
ended December 31, 2022 and 2021, the Company did not recognize an ineffective portion with respect to derivative financial instruments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The <FONT STYLE="letter-spacing: 0.1pt">realized gain
or loss of derivative financial instruments and non-derivative financial instruments that qualify as CFH are recorded in the same caption
of the hedged item in the consolidated statement of operations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Accounting for the time value of options</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accounts for the time value of options
in accordance with IFRS 9, which requires all derivative financial instruments to be initially recognized at fair value. Subsequent measurement
for options purchased and designated as CFH requires that the option&rsquo;s changes in fair value be segregated into its intrinsic value
(which will be considered the hedging instrument&rsquo;s effective portion in OCI) and its correspondent changes in extrinsic value (time
value and volatility).The extrinsic value changes will be considered as a cost of hedging (recognized in OCI in a separate component of
equity) and accounted for in income when the hedged items also are recognized in income.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>t)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Financial instruments &ndash; Disclosures</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">IFRS 7 requires
a three-level hierarchy for fair value measurement disclosures and requires entities to provide additional disclosures about the relative
reliability of fair value measurements.</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>u)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Treasury shares</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s equity instruments that are reacquired
(treasury shares), are recognized at cost and deducted from equity. No gain or loss is recognized in profit or loss on the purchase, sale,
issuance or cancellation of treasury shares. Any difference between the carrying amount and the consideration received, if reissued, is
recognized in additional paid in capital. Share-based payment options exercised during the reporting period were settled with treasury
shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>v)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Operating segments</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management of Controladora monitors the Company as
a single business unit that provides air transportation and related services, accordingly it has only one operating segment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has two geographic areas identified as
domestic (Mexico) and international (United States of America, Central America and South America).</P>

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


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 13.5pt; text-align: justify; text-indent: -13.5pt"><FONT STYLE="font-size: 10pt"><B>w)</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;
</FONT> <FONT STYLE="font-size: 10pt">Current versus non-current classification</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company presents assets and liabilities in the
consolidated statement of financial position based on current/non-current classification.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An asset is current when it is: (i) expected to be
realized or intended to be sold or consumed in normal operating cycle, (ii) expected to be realized within twelve months after the reporting
period, or, (iii) cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months
after the reporting period. All other assets are classified as non-current.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A liability is current when: (i) it is expected to
be settled in normal operating cycle, (ii) it is due to be settled within twelve months after the reporting period, or, (iii) there is
no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. The Company classifies
all other liabilities as non-current. Deferred tax assets and liabilities are classified as noncurrent assets and liabilities.</P>

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



<P STYLE="margin: 0"></P>

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

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: 0.1pt"><B>Notes - List of notes</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 193.5pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONTROLADORA VUELA COMPA&Ntilde;&Iacute;A DE AVIACI&Oacute;N,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>S.A.B. DE C.V. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(d.b.a. VOLARIS)</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; text-align: center"><B>Notes to Condensed Consolidated Financial Statements</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>As of December 31, 2022 and 2021</B></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; text-align: center">(In thousands of U.S. dollars, except when indicated
otherwise)</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; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Description of the business and summary of significant accounting policies</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n,
S.A.B. de C.V. (&ldquo;Controladora&rdquo; or the &ldquo;Company&rdquo;) was incorporated in Mexico in accordance with Mexican laws on
October&nbsp;27, 2005.</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; text-align: justify">Controladora is domiciled in Mexico City at Av. Antonio
Dovali Jaime No.&nbsp;70, 13<SUP>th</SUP> Floor, Tower B, Colonia Zedec Santa Fe, Mexico City, 01210.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company, through its subsidiary Concesionaria
Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n, S.A.P.I. de C.V. (&ldquo;Concesionaria&rdquo;), has a concession to provide air transportation
services for passengers, cargo and mail throughout Mexico and abroad.</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; text-align: justify">Concesionaria&rsquo;s concession was granted by the
Mexican federal government through the Mexican Communications and Transportation Ministry (<I>Secretar&iacute;a de Comunicaciones y Transportes</I>)
on May 9, 2005 initially for a period of five years and was extended on February&nbsp;17, 2010 for an additional period of ten years.
On February&nbsp;24, 2020, Concesionaria&rsquo;s concession was extended for a 20-year term starting on May&nbsp;9, 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Concesionaria made its first commercial flight as
a low-cost airline on March&nbsp;13, 2006. Concesionaria operates under the trade name of &ldquo;Volaris&rdquo;. On June&nbsp;11, 2013,
Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n, S.A.P.I. de C.V. changed its corporate name to Controladora Vuela Compa&ntilde;&iacute;a
de Aviaci&oacute;n, S.A.B. de C.V.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 23, 2013, the Company completed its dual
listing Initial Public Offering on the New York Stock Exchange (&ldquo;NYSE&rdquo;) and on the Mexican Stock Exchange (<I>Bolsa Mexicana
de Valores</I>, or &ldquo;BMV&rdquo;), and on September&nbsp;18, 2013 its shares started trading under the ticker symbol &ldquo;VLRS&rdquo;
and &ldquo;VOLAR&rdquo;, respectively.</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; text-align: justify">On November&nbsp;16, 2015, certain shareholders of
the Company completed a secondary follow-on equity offering on the NYSE.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 10, 2016, the Company, through its subsidiary
Vuela Aviaci&oacute;n, S.A. (&ldquo;Volaris Costa Rica&rdquo;), obtained from the Costa Rica Civil Aviation Authority an Air Operator
Certificate to provide air transportation services for passengers, cargo and mail, in scheduled and non-scheduled flights for an initial
period of five years. On December 20, 2021, Volaris Costa Rica&acute;s Air Operator Certificate was renewed, modified and extended for
an additional 15- years term. Volaris Costa Rica started operations on December 1, 2016.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 20, 2019, Concesionaria, issued 15,000,000
asset backed trust notes (<I>certificados burs&aacute;tiles fiduciarios</I>; the &ldquo; Trust Notes &rdquo;), under the ticker symbol
VOLARCB 19 for the amount of Ps.1.5 billion Mexican pesos by CIBanco, S.A., Instituci&oacute;n de Banca Multiple, acting as Trustee under
the Irrevocable Trust number CIB/3249 created by Concesionaria in the first issuance under a program approved by the Mexican National
Banking and Securities Commission (Comisi&oacute;n Nacional Bancaria y de Valores) for an amount of up to Ps.3.0 billion Mexican pesos.
The Trust Notes are backed by future receivables under agreements entered into with credit card processors with respect
to funds received from the sale of airplane tickets and ancillaries denominated in Mexican pesos, through credit cards VISA and Mastercard,
via the Company&rsquo;s website, mobile app and travel agencies. The Trust Notes were listed on the Mexican Stock Exchange, have a maturity
of five years and will pay an interest rate of Tasa de Interes Interbancaria de Equilibrio (&ldquo;TIIE&rdquo;) 28 plus 175 basis points.&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December&nbsp;11, 2020, Controladora announced
the closing of an upsized primary follow-on equity offering in which the Company offered 134,000,000 of its Ordinary Participation Certificates
(<I>Certificados de Participaci&oacute;n Ordinarios</I>), or CPOs, in the form of American Depositary Shares, or ADSs, at a price to the
public of US$.11.25 per ADS in the United States and other countries outside of Mexico, pursuant to the Company&rsquo;s shelf registration
statement filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;). In connection with the offering, the underwriters
exercised their option to purchase up to 20,100,000 additional CPOs in the form of ADSs. Each ADS represents 10 CPOs and each CPO represents a financial interest in one Series&nbsp;A share of common stock
of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 13, 2021, &ldquo;Concesionaria&rdquo;,
completed the issuance of fifteen million (15,000,000) of asset backed trust notes (certificados burs&aacute;tiles fiduciarios) (the &ldquo;Trust
Notes&rdquo;) issued under the ticker VOLARCB 21L for an amount of Ps.1.5 billion Mexican pesos, issued by CIBanco, S.A., Instituci&oacute;n
de Banca M&uacute;ltiple, acting as Trustee of the Irrevocable Trust number CIB/3249 created by Concesionaria, in the second offering
under the program authorized by the Mexican National Banking and Securities Commission for an amount of up to Ps.3.0 billion (three billion
pesos 00/100 national currency). The Trust Notes comply with the Sustainability-Linked Bond Principles 2020, administered by the International
Capital Market Association (ICMA) and has Sustainability Objectives (SPT) for the Key Performance Indicator (KPI), to reduce carbon dioxide
emissions from Volaris&rsquo; operations, measured as grams of CO2 emissions per revenue passenger/kilometer (gCO2 / RPK) by 21.54%, 24.08%
and 25.53% by 2022, 2023 and 2024, respectively, compared to 2015. This offering will help the Company to accomplish its long-term sustainable
goals, among which are to reduce CO2 emissions by 35.42% gCO2/RPK by 2030 vs 2015.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 25, 2021, the Company through its subsidiary
Vuela El Salvador, S.A. de C.V. (&ldquo;Volaris El Salvador&rdquo;) obtained from the El Salvadorian Civil Aviation Authority an Operation
Permit, for scheduled and non-scheduled international public air transportation services for passengers, cargo and mail valid until May
30, 2024. Volaris El Salvador started operations on September 15, 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 20, 2021, one of the Company&acute;s shareholders
concluded the conversion of 30,538,000 Series B Shares for the equivalent number of Series A Shares. This conversion has no impact either
on the total number of outstanding shares nor on the earnings-per-share calculation.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The accompanying unaudited
condensed consolidated interim financial statements and notes were approved for issuance by the Company&rsquo;s Chief Executive Officer,
Enrique J. Beltranena Mejicano, and the Chief Financial Officer, Jaime E. Pous Fern&aacute;ndez, on February 15, 2023. Subsequent events
were considered through that date.</FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Conflict between Russia and Ukraine</B></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The airline industry
has been impacted by the price and availability of fuel. However, the airline industry and the Company are implementing strategies to
mitigate these effects.</FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has been taking actions to mitigate this
impact over the business, through revenue management and has continued with the efforts towards a reduced fuel consumption. Nonetheless,
the ability to transfer any significant fuel cost increases through fare increases is limited by our ultra-low-cost business model and
high price elasticity in the market.</P>

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

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

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


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Basis of preparation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Statement of compliance</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; text-align: justify">The unaudited condensed consolidated interim financial
statements, which include the condensed consolidated statements of financial position as of December 31, 2022 (unaudited) and December
31, 2021 (figures in US dollar unaudited) and the condensed consolidated statements of operations, comprehensive income, for the three
and twelve month period ended December 31, 2022 and 2021 (unaudited), changes in equity and cash flows for the twelve months ended December
31, 2022 and 2021 (unaudited), have been prepared in accordance with International Accounting Standard (&ldquo;IAS&rdquo;) 34 <I>Interim
Financial Reporting</I> and using the same accounting policies applied in preparing the annual financial statements, except as explained
below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The unaudited condensed consolidated interim financial
statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction
with the Company&rsquo;s annual consolidated financial statements as of December&nbsp;31, 2021, and 2020 (audited).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Items included in the unaudited condensed consolidated
interim financial statements of each of the Company&rsquo;s entities are measured using the currency of the primary economic environment
in which each entity operates (&ldquo;functional currency&rdquo;). The functional currency of Controladora and its subsidiary Concesionaria
is the US dollar. The presentation currency of the Company&rsquo;s unaudited condensed consolidated interim financial statements is the
US dollar. All values in the unaudited condensed consolidated interim financial statements are rounded to the nearest thousand (US$000),
except when otherwise indicated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has consistently applied its accounting
policies to all periods presented in these financial statements and provide comparative information in respect of the previous period.</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; text-align: justify"><B>Basis of measurement and presentation</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; text-align: justify">The accompanying unaudited condensed consolidated
interim financial statements have been prepared under the historical-cost convention, except for derivative financial instruments that
are measured at fair value.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of the unaudited condensed consolidated
interim financial statements in accordance with IFRS requires management to make estimates and assumptions that affect the amounts reported
in the accompanying unaudited condensed consolidated interim financial statements and notes. Actual results could differ from those estimates.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>a)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Basis of consolidation</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed consolidated
interim financial statements comprise the financial statements of the Company and its subsidiaries. On December 31, 2022 (unaudited)
and December&nbsp;31, 2021 (figures in US dollar unaudited), for accounting purposes the companies included in the unaudited condensed
consolidated interim financial statements are as follows:&nbsp;&nbsp;<FONT STYLE="font-size: 11pt; line-height: 105%">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Name</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Principal</B></P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Activities</B></P></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Country</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt"><B>% Equity interest</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>2022</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">2021</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 41%; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt; letter-spacing: -0.1pt">Concesionaria Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n S.A. P. I. de C.V.</FONT> <FONT STYLE="font-size: 7pt"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 37%; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Air transportation services for passengers, cargo and mail throughout Mexico and abroad </FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt; letter-spacing: -0.1pt">Vuela Aviaci&oacute;n, S.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Air transportation services for passengers, cargo and mail in Costa Rica and abroad</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Costa Rica</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt; letter-spacing: -0.1pt">Vuela, S.A. (&ldquo;Vuela&rdquo;) *</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Air transportation services for passengers, cargo and mail in Guatemala and abroad </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Guatemala</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt; letter-spacing: -0.1pt">Vuela El Salvador, S.A. de C.V.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Air transportation services for passengers, cargo and mail in El Salvador and abroad</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Comercializadora Volaris, S.A. de C.V. (&ldquo;Comercializadora&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Merchandising of services </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Servicios Earhart, S.A.*</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Rendering specialized services to its affiliates</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Guatemala</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Servicios Corporativos Volaris, S.A. de C.V. <BR>
&nbsp;(&ldquo;Servicios Corporativos&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Rendering specialized services to its affiliates</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Comercializadora V Frecuenta, S.A. de C.V. <BR>
&nbsp;(&ldquo;Loyalty Program&rdquo;) **</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Loyalty Program</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Viajes Vuela, S.A. de C.V. (&ldquo;Viajes Vuela&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Travel agency</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Guatemala Dispatch Service, S.A., (&ldquo;GDS, S.A.&rdquo;) <SUP>(4) </SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Aeronautical Technical Services</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Guatemala </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 0">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 0">1710 <SUP>(1)</SUP></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 0">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 0">1711 <SUP>(2)</SUP></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero F/307750 &ldquo;Administrative Trust&rdquo; ***</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Share administration trust </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero F/745291 &ldquo;Administrative Trust&rdquo;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Share administration trust </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Fideicomiso de Administraci&oacute;n n&uacute;mero CIB/3081 &ldquo;Administrative Trust&rdquo;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Share administration trust </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>100%</B></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: center">100%</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero CIB/3249 &ldquo;Administrative Trust&rdquo;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Asset backed securities trustor &amp; administrator </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">100%</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3853 <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3855 <SUP>(6)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3866 <SUP>(6)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3867 <SUP>(7)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">CIBanco, S. A, Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3921 <SUP>(8)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 7pt">Pre-delivery payments financing </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">*The Companies have not started operations yet in Guatemala.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">**The Company has not started operations yet.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">***The Trust was terminated on August 9, 2022.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(1)</TD><TD>With effect from October 16, 2020, the Successor of the Trust 1710 was changed from Deutsche Bank M&eacute;xico, S.A. to CIBanco,
S.A., Instituci&oacute;n de Banca M&uacute;ltiple.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(2)</TD><TD>With effect from October 16, 2020, the Successor of the Trust 1711 was changed from Deutsche Bank M&eacute;xico, S.A. to CIBanco,
S.A., Instituci&oacute;n de Banca M&uacute;ltiple.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(3)</TD><TD>With effect from August 31,2021, the Company merged with Servicios Administrativos Volaris, S.A. de C.V. (the merged company).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(4)</TD><TD>The Company was acquired on October 5, 2021.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(5)</TD><TD>With effect from June 8, 2022, the trust was constituted.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(6)</TD><TD>With effect from April 1st, 2022, the trusts were constituted.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(7)</TD><TD>With effect from April 13, 2022, the trust was constituted.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(8)</TD><TD>With effect from July 21, 2022, the trust was constituted.</TD></TR></TABLE>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial statements of the subsidiaries are prepared
for the same reporting period as the parent Company, using consistent accounting policies.</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; text-align: justify">Control is achieved when the Company is exposed, or
has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over
the investee. Specifically, the Company controls an investee if, and only if, the Company has:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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: 21.3pt">(i)</TD><TD>Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee).</TD></TR></TABLE>

<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: 21.3pt">(ii)</TD><TD STYLE="text-align: justify">Exposure, or rights, to variable returns from its involvement with the investee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The ability to use its power over the investee to affect its returns.</FONT>&nbsp;</TD></TR></TABLE>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When the Company has less than a majority of the voting
or similar rights of an investee, the Company considers all relevant facts and circumstances in assessing whether it has power over an
investee, including:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The contractual arrangement
with the other vote holders of the investee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rights arising from other
contractual arrangements, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&rsquo;s voting
rights and potential voting rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company re-assesses whether or not it controls
an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation
of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary.
Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the condensed consolidated
financial statements from the date the Company gains control until the date the Company ceases to control the subsidiary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All intercompany balances, transactions, unrealized
gains and losses resulting from intercompany transactions are eliminated in full on consolidation in the condensed consolidated financial
statements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On consolidation, the assets and liabilities of foreign operations are
translated into US dollar at the exchange rates prevailing at the reporting date and their statements of profit or loss are translated
at the average exchange rates prevailing at the time. The exchange differences arising on translation for consolidation are recognized
in other comprehensive income (&ldquo;OCI&rdquo;). On disposal of a foreign operation, the component of OCI relating to that particular
foreign operation is recognized in profit or loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; letter-spacing: 0.1pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: 0.1pt"><B>Impact of new International Financial Reporting
Standards</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>New and amended standards and interpretations already
effective</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company applied for the first-time certain standards
and amendments, which are effective for annual periods beginning on or after January 1, 2022. The Company has not early adopted any other
standard interpretation or amendment that has been issued but is not yet effective.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The nature and the effect of these changes are disclosed
below:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Covid-19-Related Rent Concessions beyond June
30, 2021, Amendments to IFRS 16</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 28, 2020, the IASB issued Covid-19-Related
Rent Concessions - amendment to IFRS 16 Leases The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification
accounting for rent concessions arising as a direct consequence of the Covid-19 pandemic. As a practical expedient, a lessee may elect
not to assess whether a Covid-19 related rent concession from a lessor is a lease modification. A lessee that makes this election accounts
for any change in lease payments resulting from the Covid-19 related rent concession the same way it would account for the change under
IFRS 16 if the change were not a lease modification.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The amendment was intended to apply until June 30,
2021, but as the impact of the Covid-19 pandemic is continuing, on March 31, 2021, the IASB extended the period of application of the
practical expedient to June 30, 2022.The amendment applies to annual reporting periods beginning on or after April 1st, 2021. As of December
31, 2022, these amendments did not have an impact on the unaudited interim condensed consolidated financial statements of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Annual Improvements to IFRS Standards 2018&ndash;2020</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>IFRS 9 Financial Instruments &ndash; Fees in
the &rsquo;10 per cent&rsquo; test for derecognition of financial liabilities </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As part of its 2018-2020 annual improvements to IFRS
standards process the IASB issued amendment to IFRS 9. The amendment clarifies the fees that an entity includes when assessing whether
the terms of a new or modified financial liability are substantially different from the terms of the original financial liability.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These fees include only those paid or received between
the borrower and the lender, including fees paid or received by either the borrower or lender on the other&rsquo;s behalf. An entity applies
the amendment to financial liabilities that are modified or exchanged on or after the beginning of the annual reporting period in which
the entity first applies the amendment. The amendment is effective for annual reporting periods beginning on or after January 1<SUP>st</SUP>,
2022, with earlier adoption permitted. As of December 31, 2022, these amendments did not have an impact on the unaudited interim condensed
consolidated financial statements of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Property, Plant and Equipment: Proceeds before
Intended Use &ndash; Amendments to IAS 16</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2020, the IASB issued Property, Plant and Equipment
- Proceeds before Intended Use, which prohibits entities deducting from the cost of an item of property, plant and equipment, any proceeds
from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the
manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items,
in profit or loss.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The amendment is effective for annual reporting periods
beginning on or after January 1<SUP>st</SUP>, 2022 and must be applied retrospectively to items of property, plant and equipment made
available for use on or after the beginning of the earliest period presented when the entity first applies the amendment. The Company
expects to adopt the amendments in their effective dates considering preliminarily no significant effects. As of December 31, 2022, these
amendments did not have an impact on the unaudited interim condensed consolidated financial statements of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Reference to the Conceptual Framework &ndash;
Amendments to IFRS 3</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2020, the IASB issued Amendments to IFRS 3
Business Combinations - Reference to the Conceptual Framework. The amendments are intended to replace a reference to the Framework for
the Preparation and Presentation of Financial Statements, issued in 1989, with a reference to the Conceptual Framework for Financial Reporting
issued in March 2018 without significantly changing its requirements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board also added an exception to the recognition
principle of IFRS 3 to avoid the issue of potential &ldquo;day 2&rdquo; gains or losses arising for liabilities and contingent liabilities
that would be within the scope of IAS 37 or IFRIC 21 Levies, if incurred separately.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At the same time, the Board decided to clarify existing
guidance in IFRS 3 for contingent assets that would not be affected by replacing the reference to the Framework for the Preparation and
Presentation of Financial Statements. The amendments are effective for annual reporting periods beginning on or after 1 January 2022 and
apply prospectively. As of December 31, 2022 these amendments did not have an impact on the unaudited interim condensed consolidated financial
statements of the Company.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; letter-spacing: 0.1pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: 0.1pt"><B>Significant accounting judgments, estimates and
assumptions</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of these unaudited interim condensed
consolidated financial statements in accordance with IAS 34 requires management to make estimates, assumptions and judgments that affect
the reported amount of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at
the date of the Company&rsquo;s unaudited interim condensed consolidated financial statements.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Seasonality of operations</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The results of operations
for any interim period are not necessarily indicative of those for the entire year because the business is subject to seasonal fluctuations.
The Company expect demand to be greater during the summer in the northern hemisphere, in December&nbsp;and around Easter, which can fall
either in the first or second quarter, compared to the rest of the year. The Company and subsidiaries generally experience their lowest
levels of passenger traffic in February, September and October, given their proportion of fixed costs, seasonality can affect their profitability
from quarter to quarter. This information is provided to allow for a better understanding of the results; however, management has concluded
that this does not constitute &ldquo;highly seasonal&rdquo; as considered by IAS 34.&nbsp;</FONT>&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>5.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Financial instruments and risk management</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Financial risk management</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">The Company&rsquo;s activities
are exposed to different financial risks stemmed from exogenous variables which are not under their control but whose effects might be
potentially adverse such as: (i) market risk, (ii) credit risk, and (iii) liquidity risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">The Company&rsquo;s global risk
management program is focused on uncertainty in the financial markets and tries to minimize the potential adverse effects on net earnings
and working capital requirements. The Company uses derivative financial instruments to hedge part of such risks. The Company does not
enter into derivatives for trading or speculative purposes. The sources of these financial risk exposures are included in both &ldquo;on
balance sheet&rdquo; exposures, such as recognized financial assets and liabilities, as well as in &ldquo;off-balance sheet&rdquo; contractual
agreements and on highly expected forecasted transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">These on and off-balance sheet
exposures, depending on their profiles, do represent potential cash flow variability exposure, in terms of receiving less inflows or facing
the need to meet outflows which are higher than expected, therefore increase the working capital requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since adverse movements erode the value of recognized
financial assets and liabilities, as well some other off-balance sheet financial exposures, there is a need for value preservation, by
transforming the profiles of these fair value exposures. The Company has a Finance and Risk Management department, which identifies and
measures financial risk exposures, in order to design strategies to mitigate or transform the profile of certain risk exposures, which
are taken up to the corporate governance level for approval.&nbsp;</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>a)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Jet fuel price risk </B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since the contractual agreements with jet fuel suppliers
include reference to jet fuel index, the Company is exposed to fuel price risk which might have an impact in the forecasted consumption
volumes. The Company&rsquo;s jet fuel risk management policy aims to provide the Company with protection against increases in jet fuel
prices. In an effort to achieve the aforesaid, the risk management policy allows the use of derivative financial instruments available
on over the counter (&ldquo;OTC&rdquo;) markets with approved counterparties and within approved limits. Aircraft jet fuel consumed in
the three months period ended December 31, 2022 and 2021 represented 45% and 38% (includes derivative and non-derivative financial instruments
for 2021) of the Company&rsquo;s operating expenses, respectively. Additionally, aircraft jet fuel consumed in the twelve months ended
December 31, 2022 and 2021 represented 46% and 34% (includes derivative and non-derivative financial instruments for 2021) of the Company&rsquo;s
operating expenses, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2pt 0 0; text-align: justify">For the three and twelve months period ended
December 31, 2022 and 2021, the Company did not enter into derivative financial instruments US Gulf Coast Jet Fuel 54 Asian call options
and US Gulf Coast Jet Fuel 54 Asian Zero-Cost collar options<I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with IFRS 9 the Company separates the
intrinsic value from the extrinsic value of an option contract; as such, the change in the intrinsic value can be designated as hedge
accounting. Because extrinsic value (time and volatility values) of the derivative financial instruments is related to a &ldquo;transaction
related hedged item&rdquo;, it is required to be segregated and accounted for as a cost of hedging in OCI and accrued as a separate component
of stockholders&rsquo; equity until the related hedged item matures and therefore impacts profit and loss.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The underlying (US Gulf Coast Jet Fuel 54) of the
options held by the Company is a consumption asset (energy commodity), which is not in the Company&rsquo;s inventory. Instead, it is directly
consumed by the Company&rsquo;s fleet at different airport terminals.
Therefore, although a non-financial asset is involved, its initial recognition does not generate a book adjustment in the Company&rsquo;s
inventories.</P>


<!-- Field: Page; Sequence: 28 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Rather, it is initially accounted for in the Company&rsquo;s
OCI and a reclassification adjustment is made from OCI to profit and loss and recognized in the same period or periods in which the hedged
item is expected to be allocated to profit and loss. Furthermore, the Company hedges its forecasted jet fuel consumption month after month,
which is congruent with the maturity date of the monthly serial &ldquo;<I>Asian call options and Zero-Cost collars&rdquo;</I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All the Company&rsquo;s Asian calls matured throughout
the first quarter of 2021. The Zero-Cost Collars matured throughout the second quarter of 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended December 31, 2021, there
was no intrinsic value of the Asian Call options to recycle to the fuel cost nor finance cost. During the twelve months ended December
31, 2021, the intrinsic value of the Asian call options recycled to fuel cost was an expense of US$619.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three and twelve months ended December
31, 2021, there was no cash flow to Zero-Cost collar position.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three and twelve months ended December
31, 2021, all the derivative financial instruments were effective.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the period ended December 31, 2021, there was
no cost of hedging as the derivatives position matured through 2Q21.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>b)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Foreign currency risk</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The US dollar is the functional currency of Controladora
and its main subsidiary Concesionaria, a significant portion of its operating expenses are denominated in U.S. dollar; thus, Volaris relies
on sustained U.S. dollar cash flows coming from operations in the United States of America, Central America and South America to support
part of its commitments in such currency.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Foreign currency risk arises from possible unfavorable
movements in the exchange rate which could have a negative impact in the Company&rsquo;s cash flows. To mitigate this risk, the Company
may use foreign exchange derivative financial instruments and non-derivative financial instruments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Company&acute;s expenditures, particularly those related
to aircraft leasing and acquisition, are denominated in U.S. dollar. In addition, although jet fuel for those flights originated in Mexico
are paid in Mexican pesos, the price formula is impacted by the Mexican Pesos /U.S. dollars exchange rate. As of December 31, 2021, the
Company and its main subsidiary Concesionaria have prospectively changed its Functional Currency from the Mexican peso to the US dollar.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s exposure as of December 31, 2022,
is as set forth below:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 60%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 6%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 27%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>As of December 31, 2022 (Thousands of Mexican pesos)*</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Assets:</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Cash, cash equivalents and restricted cash</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B></B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt"><B>PS.</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892,391</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Other accounts receivable, net</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,526,635</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Guarantee deposits</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>469,168</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Derivative Financial instruments</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30,688</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total assets</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>PS.</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,918,882</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Liabilities:</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Financial debt</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 8pt"><B>PS.</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,591,285</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Lease liabilities</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331,198</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Suppliers</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,437,032</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Other liabilities</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,600,325</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total liabilities</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,959,840</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Net foreign currency position</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>PS.</B></P></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,040,958)</B></FONT></TD></TR>
  </TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #323131">&nbsp;</P>


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

<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*The foreign exchange exposure includes: Mexican pesos,
Colones, Quetzales and Colombian pesos.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">At February 15, 2023,
date of issuance of these unaudited condensed consolidated financial statements, the exchange rate was Ps.18.6327</FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt">per
U.S. dollar.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s foreign exchange exposure as of
December 31, 2021, is as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 41%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>US</B></FONT></TD>
    <TD STYLE="width: 3%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Mexican Pesos </B></FONT></TD>
    <TD STYLE="width: 3%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Others*</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 3%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-left: 5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Assets:</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Cash, cash equivalents and restricted cash</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">14,311,541</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">817,735</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">125,600</FONT></TD>
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">15,254,876 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Other accounts receivable, net</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">830,688</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">193,727</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">10,189</FONT></TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,034,604</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Guarantee deposits</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">10,992,268</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">6,772</FONT></TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">10,999,040</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total assets</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">26,134,497</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,011,462</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">142,561</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">27,288,520</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Liabilities:</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Financial debt</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3,552,092</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">&nbsp;PS.</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2,724,588</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">&nbsp;PS.</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">6,276,680</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Lease liabilities</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">53,326,884</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,588</FONT></TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">53,328,472</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Suppliers</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2,504,827</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3,290,110</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">127,667</FONT></TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">5,922,604</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Other taxes and fees payable</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">62,533</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2,300,533</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">337,117</FONT></TD>
    <TD STYLE="padding-left: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2,700,183</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total liabilities</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">59,446,336</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">8,315,231</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">466,372</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">68,227,939</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Net foreign currency position</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(33,311,839&nbsp;)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(7,303,769)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(323,811)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 5pt"><FONT STYLE="font-size: 8pt">PS.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(40,939,419)</FONT></TD></TR>
  </TABLE>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">*The foreign exchange
exposure includes: Colones, Quetzales and Colombian pesos.</FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In determining the spot exchange rate to use on initial
recognition of the related asset, expense or income (or part of it) on the derecognition of a non-monetary asset or non-monetary liability
relating to advance consideration, the date of the transaction is the date on which the Company initially recognizes the non-monetary
asset or non-monetary liability arising from the advance consideration. If there are multiple payments or receipts in advance, the Company
determines the transaction date for each payment or receipt of advance consideration.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">As of December 31, 2022
and December 2021, the Company did not enter into foreign exchange rate derivatives financial instruments.</FONT>&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>c)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Hedging relationships designating non-derivative financial instruments
as hedging instruments for Foreign Exchange (FX) risk </B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Regarding the foreign currency risk effective since
January 1<SUP>st</SUP>, 2019, the Company implemented two hedging strategies associated to forecasted FX exposures, by using non-derivatives
financial assets and liabilities denominated in USD as hedging instruments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the first FX hedging strategy, the Company designated
a hedge to mitigate the variability in FX fluctuation denominated in USD associated to forecasted revenues by using a portion of USD denominated
financial liabilities associated to a portfolio of leasing liabilities up until the terms of the remaining leasing arrangements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2022 and 2021, there was not outstanding
USD balance designated under this hedging strategy due to the discontinuation of the hedge relationships.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three and twelve months period ended December
31, 2021, the impact of these hedges was US$6,542, and US$21,378, respectively, which has been presented as part of the total operating
revenue.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The second FX strategy consists on designating a hedging
relationship by using a portion of USD denominated non-derivative financial assets as hedging instruments, to mitigate the FX variability
(MXN/USD) contractually included as a component in the purchase of a portion of future Jet Fuel consumption. For this strategy designated in 2019,
a portion of the Jet Fuel consumption over the two following years was designated as hedged item; while the hedging instrument is represented
by USD denominated recognized assets, including guaranteed deposits and cash and cash equivalents equivalent to US$410 million, which
represent a portion of the financial assets denominated in USD.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the first quarter of 2021, the designated hedging
instrument back in 2019 for US$410 million expired consistent with the same foreign exchange strategy, the Company decided to designate
a new hedging relationship, like the one concluded. For this new strategy designated a portion of the Jet Fuel consumption over the two
following years has been designated as hedged item; while the hedging instrument is represented by USD denominated recognized assets,
including guaranteed deposits and cash and cash equivalents equivalent to US$350 million, which represent a portion of the financial assets
denominated in USD.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2022 and 2021, there was not outstanding
USD balance designated under this hedging strategy due to the discontinuation of the hedge relationships.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three and twelve months period ended December
31, 2021, the impact of these hedges was US$2,637 and US$8,945, respectively, which has been presented as part of the total fuel expense.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since the hedged items on for both hedging strategies
were targeted at mitigating the cash flow variability of highly expected forecasted transactions, these were represented by multiple hedging
relationships which do follow the Cash Flow Hedge Accounting Model.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The effective portion of the hedging instrument&rsquo;s
changes in fair value, were taken to the hedge reserve within the OCI, presented as a separate caption within the Company&rsquo;s Stakeholders
Equity, which is in accordance with IFRS 9 criteria.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The amounts recorded in OCI were recycled to profit
and loss on a time basis as corresponding USD denominated Income and/or Jet Fuel consumptions also affected the Company&rsquo;s operating
margin and are presented as adjustments to both operating income and expense, with respect to each FX hedging strategy in a timely manner,
as USD denominated income and jet fuel consumption were recognized within operating earnings, hence reflecting a portion of both operating
income and expenses amounts, net of both FX Hedging activities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2021, as a result of the change
in functional currency from the Mexican peso to the US dollar, the Company concluded that these hedging strategies will no longer be effective,
for which reason it accounted for the discontinuation of the hedge relationships. Accordingly, the cash flow hedge reserve in other comprehensive
income at the date of the change of US$109 million was reclassified to the income statement, which represented a loss within the foreign
exchange (loss) gain, net caption.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>d)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Interest rate risk</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest rate risk is the risk that the fair value
of future cash flows will fluctuate because of changes in market interest rates. The Company&rsquo;s exposure to the risk of changes in
market interest rates relates primarily to the Company&rsquo;s long-term debt obligations and flight equipment operating lease agreements
with floating interest rates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s results are affected by fluctuations
in certain benchmark market interest rates due to the impact that such changes may have on operational lease payments indexed to the London
Inter Bank Offered Rate (&ldquo;LIBOR&rdquo;) and the Secured Overnight Financing Rate (&ldquo;SOFR&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The replacement of the rate USD LIBOR by the Secured
Overnight Financing Rate (&ldquo;SOFR&rdquo;) the company is taking the necessary measures to adopt the new benchmark rates. Although
rate USD LIBOR was planned to be discontinued by the end of 2021, in November 2020 the ICE Benchmark Administration (&ldquo;IBA&rdquo;),
the Financial Conduct Authority (&ldquo;FCA&rdquo;) regulated and authorized administrator of LIBOR, announced that it had started to
consult on its intention to cease the publication of certain USD LIBORs after June 2023, as announced by the FCA in early 2022, the panel
bank submissions for rate USD LIBOR will cease in mid-2023. As of December 31,2022, it is still unclear
the announcement that will set a date for the termination of the publication of US dollar will take place.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company uses derivative financial instruments
to reduce its exposure to fluctuations in market interest rates and accounts for these instruments as an accounting hedge.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In most cases, when a derivative can be tailored within
the terms and it perfectly matches cash flows of a leasing agreement, it may be designated as a CFH and the effective portion of fair
value variations are recorded in equity until the date the cash flow of the hedged lease payment is recognized in the consolidated statements
of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During July 2019 the Irrevocable Trust number CIB/3249,
whose trustor is the Company, entered a cap to mitigate the risk due to interest rate increases on the CEBUR (VOLARCB19) coupon payments.
The floating rate coupons reference to TIIE 28 are limited under the &ldquo;cap&rdquo; to 10% on the reference rate for the life of the
CEBUR (VOLARCB19) and have the same amortization schedule. Thus, the cash flows of the CEBUR (VOLARCB19) are perfectly matched by the
hedging instrument. &#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The cap start date was July&nbsp;19, 2019, and the
maturity date is June 20, 2024, consisting of 59 &ldquo;caplets&rdquo; with the same specifications as the CEBUR (VOLARCB19) coupons for
reference rate determination, coupon term, and fair value.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, during November 2021 the Trust entered
into a cap to mitigate the risk due to interest rate increases on the CEBUR (VOLARCB21L) coupon payments. The floating rate coupons reference
to TIIE 28 are limited under the cap to 10% on the reference rate for the life of the CEBUR (VOLARCB21L) and have the same amortization
schedule. Thus, the cash flows of the CEBUR (VOLARCB21L) are perfectly matched by the hedging instrument.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The cap start date was November 3, 2021, and the maturity
date is October 20, 2026; consisting of 59 &ldquo;caplets&rdquo; with the same specifications as the CEBUR (VOLARCB21L) coupons for reference
rate determination, coupon term, and fair value.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2022 and December 31, 2021, the
Company&rsquo;s outstanding hedging contracts in the form of interest rate caps with notional amount of US$0.1 billion and US$0.1 billion,
respectively, had fair values of US$1,585 and US$1,398, respectively, and are presented as part of the financial assets in the condensed
consolidated statement of financial position.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended December 31, 2022 and
2021, the recycled to cap cost was an finance cost of US$73 and US$20 respectively. During the twelve months ended December 31, 2022 and
2021, the recycled to cap cost was an finance cost of US$161 and US$69 respectively.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>e)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Liquidity risk</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Liquidity risk represents the risk that the Company
has insufficient funds to meet its obligations. Because of the cyclical nature of the business, the operations, and its investment and
financing needs related to the acquisition of new aircraft and renewal of its fleet, the Company requires liquid funds to meet its obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company attempts to manage its cash and cash equivalents
and its financial assets, relating the term of investments with those of its obligations. Its policy is that the average term of its investments
may not exceed the average term of its obligations. This cash and cash equivalents position is invested in highly liquid short-term instruments
through financial entities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has future obligations related to maturities
of bank borrowings, lease liabilities and derivative contracts. The Company&rsquo;s exposure outside consolidated statements of financial
position represents the future obligations related to aircraft purchase contracts. The Company concluded that it has a low concentration
of risk since it has access to alternate sources of funding.</P>

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


<!-- Field: Page; Sequence: 32 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table below presents the Company&rsquo;s contractual
principal payments required on its financial liabilities and the derivative financial instruments fair value:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2022</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Within one<BR> year</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">One to five<BR> years</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 1.4pt">Interest-bearing borrowings:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Pre-delivery payments facilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>62,209</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>75,698</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>137,907</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Asset backed trust note (&ldquo;CEBUR&rdquo;)</TD><TD STYLE="width: 5%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; font-weight: bold; text-align: right">30,129</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; font-weight: bold; text-align: right">86,081</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; font-weight: bold; text-align: right">116,210</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Working Capital Facilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">18,077</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">18,077</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 12pt; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 1.4pt">Lease liabilities:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Aircraft, engines, land and buildings leases</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">335,620</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,373,103</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">2,708,723</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">&nbsp;&nbsp;Aircraft and engine lease return obligation</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">244,454</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">249,466 </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 1.4pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">451,047</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,779,336
</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,230,383</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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


<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Within one<BR> year</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">One to five<BR> years</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 1.4pt">Interest-bearing borrowings:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Pre-delivery payments facilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">171,771</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;-</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">171,771</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Asset backed trust note (&ldquo;CEBUR&rdquo;) </TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">24,291</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">109,311</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">133,602</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 1.4pt">Lease liabilities:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Aircraft, engines, land and buildings leases</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">283,843</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,128,294</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,412,137</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">&nbsp;&nbsp;Aircraft and engine lease return obligation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21,949</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">166,930</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">188,879</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 1.4pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">501,854</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">2,404,535</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">2,906,389</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>f)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Credit risk</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Credit risk is the risk that any counterparty will
not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit
risk from its operating activities (primarily for trade receivables) and from its financing activities, including deposits with banks
and financial institutions, foreign exchange transactions and other financial instruments including derivatives.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments that expose the Company to credit
risk involve mainly cash equivalents and accounts receivable. Credit risk on cash equivalents relate to amounts invested with major financial
institutions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Credit risk on accounts receivable relates primarily
to amounts receivable from the major international credit card companies. The Company has a high receivable turnover; hence management
believes credit risk is minimal due to the nature of its businesses, which have a large portion of their sales settled in credit cards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The credit risk on liquid funds and derivative financial
instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Some of the outstanding derivative financial instruments
expose the Company to credit loss in the event of nonperformance by the counterparties to the agreements. However, the Company does not
expect any of its counterparties to fail to meet their obligations. The amount of such credit exposure is generally the unrealized gain,
if any, in such contracts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To manage credit risk, the Company selects counterparties
based on credit assessments, limits overall exposure to any single counterparty and monitors the market position with each counterparty.
The Company does not purchase or hold derivative financial instruments for trading purposes.</P>

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


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2022, the Company concluded that its
credit risk related to its outstanding derivative financial instruments is low, since it only enters into derivative financial instruments
with banks with high credit-rating assigned by international credit-rating agencies.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt; color: #323131">&nbsp;</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>g)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Capital management</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management believes that the resources available to
the Company are enough for its present requirements and will be sufficient to meet its anticipated requirements for capital expenditures
and other cash requirements for the 2022 fiscal year. The primary objective of the Company&rsquo;s capital management is to ensure that
it maintains healthy capital ratios to support its business and maximize the shareholder&rsquo;s value. No changes were made in the objectives,
policies, or processes for managing capital during the period ended December 31, 2022, and December&nbsp;31, 2021. The Company is not
subject to any externally imposed capital requirement, other than the legal reserve.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">As part of the management
strategies related to acquisition of its aircrafts (pre-delivery payments), the Company pays the associated short-term obligations by
entering into sale-leaseback agreements, whereby an aircraft is sold to a lessor upon delivery.</FONT>&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>6.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Fair value measurements</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The only financial assets and liabilities measured
at fair value after initial recognition are the derivative financial instruments. Fair value is the price that would be received from
sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair
value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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: 21.3pt">(i)</TD><TD STYLE="text-align: justify">In the principal market for the asset or liability, or</TD></TR></TABLE>

<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: 21.3pt">(ii)</TD><TD STYLE="text-align: justify">In the absence of a principal market, in the most advantageous market for the asset or liability.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The principal or the most advantageous market must
be accessible to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair value of an asset or a liability is assessed
using the course of thought which market participants would use when pricing the asset or liability, assuming that market participants
act in their economic best interest.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The assessment of a non-financial asset&rsquo;s fair
value considers the market participant&rsquo;s ability to generate economic benefits by using the asset in its highest and best use or
by selling it to another market participant that would use the asset in its highest and best use.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company uses valuation techniques that are appropriate
in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs
and minimizing the use of unobservable inputs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All assets and liabilities for which fair value is
measured or disclosed in the unaudited condensed consolidated interim financial statements are categorized within the fair value hierarchy,
described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Level 1 &ndash; Quoted (unadjusted) prices in active markets for identical
assets or liabilities.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Level 2 &ndash; Valuation techniques for which the lowest level input that
is significant to the fair value measurement is directly or indirectly observable.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Level 3 &ndash; Valuation techniques for which the lowest level input that
is significant to the fair value measurement is unobservable. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For assets and liabilities that are recognized in
the unaudited condensed consolidated financial statements on a recurring basis, the Company determines whether transfers have occurred
between levels in the hierarchy by re-assessing categorization (based on the lowest level
input that is significant to the fair value measurement as a whole) at the end of each reporting period.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the purpose of fair value disclosures, the Company
has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the
level of the fair value hierarchy as explained above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Set out below, is a comparison by class of the carrying
amounts and fair values of the Company&rsquo;s financial instruments, other than those for which carrying amounts are reasonable approximations
of fair values:&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Carrying amount</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fair value</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2021</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2021</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 29%; padding-right: 5.4pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt">Derivative financial Instruments</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,585</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">1,398</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,585</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">1,398</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>Liabilities</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Financial debt</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(Interest-bearing loans and borrowings)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(272,194)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">(305,373)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(281,455)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(302,876)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(270,609)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">(303,975)</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(279,870)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(301,478)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the fair value measurements
at December 31, 2022:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fair value measurement</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Quoted prices </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>in active </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>markets</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Level 1</B></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Significant </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>observable </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>inputs </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Level 2</B></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Significant unobservable</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>inputs</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Level 3</B></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 26%; padding-right: -5.5pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt">Derivatives financial instruments:</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt">Interest rate Caps</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,585</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,585</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt"><B>Liabilities</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt">Interest-bearing loans and borrowings**</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(281,455)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(281,455)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt"><B>Net</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(279,870)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(279,870)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">**LIBOR, SOFR curve and TIIE Mexican interbank rate.
Includes short-term and long-term debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There were no transfers between level 1 and level
2 during the period.&nbsp;</P>

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


<!-- Field: Page; Sequence: 35 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the fair value measurements
at December 31, 2021:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fair value measurement</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Quoted prices </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>in active </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>markets</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Level 1</B></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Significant </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>observable </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>inputs </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Level 2</B></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 0.7pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Significant unobservable</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>inputs</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Level 3</B></P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 27%; padding-right: -5.5pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt">Derivatives financial instruments:</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt">Interest rate Caps</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">1,398</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,398</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt"><B>Liabilities</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt">Interest-bearing loans and borrowings**</FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">(302,876)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">(302,876)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt"><FONT STYLE="font-size: 8pt"><B>Net</B></FONT></TD>
    <TD STYLE="padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">(301,478)</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: -5.5pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">(301,478)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">** LIBOR, SOFR curve and TIIE Mexican interbank rate.
Includes short-term and long-term debt.&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There were no transfers between level 1 and level
2 during the period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the loss from derivatives
financial instruments recognized in the unaudited condensed consolidated statements of operations for the three months ended December
31, 2022 and 2021:&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Unaudited condensed consolidated statements of
operations&nbsp;</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the three months period ended</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31</B></P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Instrument</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 0.2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Financial statements line</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 0.2pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 0.2pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">2021</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 39%"><FONT STYLE="font-size: 8pt">Interest rate cap</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 27%"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;Finance cost</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(73)</B></FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">(20)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Total</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>(73)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 0.2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(20)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</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">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the loss from derivatives
financial instruments recognized in the unaudited condensed consolidated statements of operations for the twelve months ended December
31, 2022 and 2021:&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Unaudited condensed consolidated statements of
operations&nbsp;</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the twelve months period ended</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Instrument</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 0.2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Financial statements line</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 0.2pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 0.2pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">2021</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 39%"><FONT STYLE="font-size: 8pt">Jet fuel Asian call options contracts</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 27%"><FONT STYLE="font-size: 8pt">Fuel</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 13%; padding-left: 0.5in; text-align: right; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt"> </FONT></TD>
    <TD STYLE="width: 3%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 8pt">(619)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">Interest rate cap</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 8pt">Finance cost</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>(161)</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(69)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Total</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>(161)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-bottom: 0.2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(688)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the net gain (loss)
on CFH before taxes recognized in the unaudited condensed consolidated statements of other comprehensive income for the three months ended
December 31, 2022 and 2021:</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">&nbsp;</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">&nbsp;</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">&nbsp;</P>


<!-- Field: Page; Sequence: 36 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</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>Unaudited condensed consolidated statements of other comprehensive income</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the three months period ended</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Instrument</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Financial statements line</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Jet fuel Asian call options contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">OCI</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">US$</TD>
    <TD STYLE="font-weight: bold; text-align: right">-&nbsp;&nbsp; </TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">US$</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;10</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 22%; text-align: left; padding-left: 5.4pt">Jet fuel Zero-Cost collars contracts</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 21%; padding-left: 5.4pt">OCI</TD><TD STYLE="width: 5%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 19%; font-weight: bold; text-align: right">-&nbsp;&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 19%; text-align: right">9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Interest rate cap</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">OCI</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(59</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(276</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Non derivative financial instruments*</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">OCI</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">101,983</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 5.4pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>(59</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">101,726</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The following table
summarizes the net gain (loss) on CFH before taxes recognized in the unaudited condensed consolidated statements of other comprehensive
income for the twelve months ended December 31, 2022 and 2021:</FONT><FONT STYLE="font-size: 11pt; color: #323131">&#9;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #323131">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #323131">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Unaudited condensed consolidated statements of other comprehensive income</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 12pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the twelve months period ended</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Instrument</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Financial statements line</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Jet fuel Asian call options contracts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">OCI</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">US$</TD>
    <TD STYLE="font-weight: bold; text-align: right">&#9;-&nbsp;&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">US$</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;601</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 22%; text-align: left; padding-left: 5.4pt">Jet fuel Zero-Cost collars contracts</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 21%; padding-left: 5.4pt">OCI</TD><TD STYLE="width: 5%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 19%; font-weight: bold; text-align: right">-&nbsp;&nbsp;</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 19%; text-align: right">484</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Interest rate cap</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 5.4pt">OCI</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">336</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(128</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Non derivative financial instruments</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">OCI</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">-&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">79,076</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 5.4pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 5.4pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>336</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">80,033</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>7.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Financial assets and liabilities</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2022 and December 31, 2021, the Company&rsquo;s
financial assets are represented by cash, cash equivalents and restricted cash, trade and other accounts receivable, accounts receivable
with carrying amounts that approximate their fair value.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>a)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Financial assets</B></FONT></TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 66%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2022</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 6%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Derivative financial instruments designated as cash flow hedges (effective portion recognized within OCI)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Interest rate cap</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,585</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,398</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Total derivative financial assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,585</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,398</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Presented on the consolidated statements of</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">financial position as follows:&#9;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Current</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Non-current</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,585</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,398</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 37 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>b)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Financial debt</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(i) At December 31, 2022 and December 31, 2021,
the Company&rsquo;s short-term and long-term debt consists of the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2022</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">December&nbsp;31,<BR>
2021</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">I.</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 64%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Revolving line of credit with Banco Santander M&eacute;xico, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Grupo Financiero Santander (&ldquo;Santander&rdquo;) and Banco Nacional de Comercio Exterior, S.N.C. (&ldquo;Bancomext&rdquo;), in U.S. dollars, to finance pre-delivery payments, maturing on October 31, 2022, bearing annual interest rate at LIBOR plus a spread of 260 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">171,771</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">II.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">In June 2019 the Company issued in the Mexico market Asset backed trust notes (&ldquo;CEBUR&rdquo;), in Mexican pesos, maturing on June 20th, 2024 bearing annual interest rate at TIIE plus 175 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>38,737</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">60,728</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">III.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">In October 2021 the Company issued in the Mexico market a second tranche of its Asset backed trust notes (&ldquo;CEBUR&rdquo;), in Mexican pesos, maturing on October 20th, 2026 bearing annual interest rate at TIIE plus 200 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>77,473</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">&nbsp;72,874</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">IV.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Revolving credit line with Banco Santander M&eacute;xico, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Grupo Financiero Santander (&ldquo;Santander&rdquo;) and Banco Nacional de Comercio Exterior, S.N.C. (&ldquo;Bancomext&rdquo;), in U.S. dollars, to finance pre-delivery payments, maturing on June 8, 2027, bearing annual interest rate at SOFR plus a spread of 298 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>38,635</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">V.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Pre-delivery payments financing with JSA International U.S. Holdings, LLC, with maturity in November 30, 2025, bearing annual interest SOFR plus a spread of 300 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>27,962</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">VI.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Pre-delivery payments financing with GY Aviation Lease 1714 Co. Limited, with maturity in November 30, 2025, bearing annual interest of SOFR plus a spread of 425 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>15,880</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">VII.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Pre-delivery payments financing with Incline II B Shannon 18 Limited, with maturity in May 31, 2025, bearing annual interest of SOFR plus a spread of 390 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>48,048</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">VIII.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Pre-delivery payments financing with Oriental Leasing 6 Company Limited, with maturity in May 31 2026, bearing annual interest of SOFR plus a spread of 200 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>7,382</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">IX.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">The company acquired a short term working capital facility with Banco Sabadell S.A, Instituci&oacute;n de banca multiple (&ldquo;Sabadell&rdquo;) with national currency, bearing annual interest rate at TIIE plus 240 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>10,330</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">X.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">The company acquired a short term working capital facility with Banco Actinver S.A, Instituci&oacute;n de banca multiple (&ldquo;Actinver&rdquo;) with national currency, bearing annual interest rate at TIIE plus 250 basis points.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>7,747</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">XI.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Amortized transaction costs</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>(1,034)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">(1,526)</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">XII.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Accrued interest and other financial cost</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>1,875</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">1,090&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%; text-indent: 7.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>273,035</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">304,937</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Less: Short-term maturities</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>112,148</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">US$</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">&nbsp;196,898</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Long-term</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>160,887</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">US$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">108,039</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">TIIE: Mexican interbank rate</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">LIBOR: London Inter Bank Offered Rate</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">SOFR: Secured Overnight Financing Rate</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>


<!-- Field: Page; Sequence: 38 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">(ii) The following table provides a summary of the Company&rsquo;s scheduled
principal payments of financial debt and accrued interest on December 31, 2022:</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-bottom: 0.6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Within one year</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>January 2024-</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December2024</B></P></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>January 2025-December 2025&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-bottom: 0.6pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>January 2026-onwards </B></P></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Total</B></P></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; width: 40%; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Santander/Bancomext <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom; width: 3%"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">12,364</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom; width: 3%"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-top: black 1pt solid">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right">18,030</P></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom; width: 4%"><FONT STYLE="font-size: 8pt">&nbsp;US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-top: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">8,655</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom; width: 3%"><FONT STYLE="font-size: 8pt">US$&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; vertical-align: bottom; width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom; width: 6%">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; width: 6%"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"> 39,049</P></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Banco Sabadell S.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">10,421</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.5in; text-align: right; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.5in; text-align: right; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;10,421</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt"><FONT STYLE="font-size: 8pt">CEBUR program</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">30,436</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">38,373</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">25,528</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">21,288</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">115,625</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt"><FONT STYLE="font-size: 8pt">JSA International U.S. Holdings, LLCA</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">25,272</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">3,159</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.5in; text-align: right; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;28,431</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt"><FONT STYLE="font-size: 8pt">GY Aviation Lease 1714 Co. Limited</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.5in; text-align: right; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">15,880</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.5in; text-align: right; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;15,880</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Incline II B Shannon 18 Limited </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">25,788</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 0.6pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">22,592</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 0.6pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.5in; text-align: right; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">48,380</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Oriental Leasing 6 Company Limited</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">76</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 0.6pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 0.6pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">7,382</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;7,458</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Banco Antiver S.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">7,791</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-bottom: 0.6pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-bottom: 0.6pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt">&nbsp;-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;7,791</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Total</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">112,148</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">98,034</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">41,565</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">21,288</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt">273,035</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 7pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Revolving line of credit with Banco Santander S.A. and Banco Nacional de
Comercio Exterior, S.N.C., Instituci&oacute;n de Banca de Desarrollo contracted on June 8, 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">iii) Since 2011, the Company has financed the pre-delivery
payments with Santander/Bancomext for the acquisition of its aircraft through a revolving financing facility.&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The &ldquo;Santander/Bancomext 2018&rdquo; loan agreement
provides for certain covenants, including limits to the ability to, among others:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt 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"><FONT STYLE="font-size: 10pt">i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Incur debt above a specified debt basket unless certain financial ratios
are met.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt 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"><FONT STYLE="font-size: 10pt">ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Create liens.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt 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"><FONT STYLE="font-size: 10pt">iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Merge with or acquire any other entity without the previous authorization
of the Banks.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt 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"><FONT STYLE="font-size: 10pt">iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Dispose of certain assets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt 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"><FONT STYLE="font-size: 10pt">v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Declare and pay dividends or make any distribution on the Company&rsquo;s
share capital unless certain financial ratios ( that the long-term adjusted net debt is less than or equal to 6.5 ( six point five) times
the EBITDAR, which on any determination date) are met.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2022 and December 31, 2021, the Company
was in compliance with the covenants under the above-mentioned loan agreement.</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; text-align: justify">For purposes of financing the pre-delivery payments, Mexican trust structures were created whereby, the Company assigned
its rights and obligations under the Airbus Purchase Agreement with Airbus S.A.S. (&ldquo;Airbus&rdquo;), including its obligation to
make pre-delivery payments to the Mexican trusts, and the Company guaranteed the obligations of the Mexican trusts under the financing
agreement (CIBanco, S.A. Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso (previously Deutsche Bank Mexico, S.A. Trust 1710 and
1711)).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In June 8, 2022 the Company enter a new pre-delivery
payments financing with Santander/Bancomext for the acquisition of its aircraft through a revolving facility.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The &ldquo;Santander/Bancomext 2022&rdquo; loan agreement
provides for certain covenants, including limits to the ability to, among others:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">i)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Incur debt above a specified debt basket unless certain financial ratios are met.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">ii)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Create liens. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">iii)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Merge with or acquire any other entity without the previous authorization of the Banks.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">iv)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Dispose of certain assets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">v)</FONT></TD><TD><FONT STYLE="font-size: 10pt">Declare and pay dividends or make distributions on the Company&rsquo;s share capital.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2022, the Company was in compliance
with the covenants under the above-mentioned loan agreement. As of December 31, 2022 the Company paid the dispositions made during the
year, therefore, it does not have a balance pending settlement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For purposes of financing the pre-delivery payments,
a Mexican trust was created whereby, the Company assigned its rights and obligations under the Airbus Purchase Agreement with Airbus S.A.S.
(&ldquo;Airbus&rdquo;), including its obligation to make pre-delivery payments to the Mexican trust, and the Company guaranteed the obligations
of the Mexican trusts under the financing agreement (CIBanco, S.A. Instituci&oacute;n de Banca M&uacute;ltiple) Trust 3853.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company signed in May of 2022 three new pre-delivery
payments financing with lessors for the acquisition of its aircraft. For this purpose, a Mexican trust was created for each contract with
(CIBanco, S.A. Instituci&oacute;n de Banca M&uacute;ltiple), for JSA International U.S. Holdings, LLC Trust 3866, for GY Aviation Lease
1714 Co. Limited Trust 3855, and for Incline II B Shannon 18 Limited Trust 3867. These facilities do not include financial covenants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company signed a new pre-delivery payment financing
with lessors for the acquisition of aircraft with Oriental Leasing 6 Company Limited. For this purpose, a Mexican trust was created with
CIBanco, S.A. Instituci&oacute;n de Banca M&uacute;ltiple, Trust 3921. This facility does not include financial covenants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June&nbsp;20, 2019, the Company, through its subsidiary
Concesionaria issued 15,000,000 asset backed trust notes (&ldquo;CEBUR&rdquo;) under the ticket VOLARCB 19 for Ps.1.5 billion Mexican
pesos through the Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero CIB/3249 created by Concesionaria. The issuance amount
is part of a program approved by the Mexican National Banking and Securities Commission (Comisi&oacute;n Nacional Bancaria y de Valores)
for an amount of up to Ps.3.0 billion Mexican pesos.</P>


<!-- Field: Page; Sequence: 39 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The notes have a five-year maturity annual reduction
of Ps.250,000, Ps.500,000, Ps.500,000 and Ps.250,000 in 2021, 2022, 2023 and 2024, respectively, with a floating one-month coupon rate
referenced to TIIE 28 plus with a 175 basis points spread. The notes start amortizing at the end of the second year.</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; text-align: justify">On October 13, 2021, the Company, through its subsidiary
Concesionaria issued in the Mexico market a second issuance of 15,000,000 asset backed trust notes (&ldquo;CEBUR&rdquo;) under the ticket
VOLARCB21L for Ps.1.5 billion Mexican pesos through the Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero CIB/3249 created
by Concesionaria. The issuance amount is part of a program approved by the Mexican National Banking and Securities Commission (Comisi&oacute;n
Nacional Bancaria y de Valores) for an amount of up to Ps.3.0 billion Mexican pesos. With this second issuance the total amount approved
for the program has been reached.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Trust Notes comply with the Sustainability-Linked
Bond Principles 2020, administered by the International Capital Market Association (ICMA) and has Sustainability Objectives (SPT) for
the KPI, to reduce carbon dioxide emissions measured as grams of CO2 emissions per revenue passenger/kilometer (gCO2 / RPK) by 21.54%,
24.08% and 25.53% by 2022, 2023 and 2024, respectively, compared to 2015. This offering will help the Company to accomplish its long-term
sustainable goals, among which are to reduce CO2 emissions by 35.42% by 2030.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A feature of the asset backed trust notes is that
they will pay an additional twenty-five (25) basis points to the interest rate if the sustainability goals are not met, with the possibility
of mitigating the additional rate if the 2023 or 2024 targets are met.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The notes have a five-year maturity annual reduction
of Ps.83,333, Ps.500,000, Ps.500,000 and Ps.416,667 in 2023, 2024, 2025 and 2026, respectively, with a floating one-month coupon rate
referenced to TIIE 28 plus with a 200 basis points spread. The notes start amortizing at the end of the second year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The asset backed trust note&rsquo;s structure operate
on specific rules and provide a DSCR &ldquo;Debt Service Coverage Ratio&rdquo; which is computed by comparing the Mexican Peso collections
over the previous six months to the next 6 months of debt service. In general, not retention of funds exists if the ratio exceeds 2.5
times. Amortization on the asset backed trust notes begins in July of 2021 for the first issuance and the second issuance will begin in
November of 2023. In addition, early amortization applies if:</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Debt Coverage Ratio is less than 1.75x on any of the determination dates;
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">An event of retention is not covered in a period of 90 consecutive days;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The debt service reserve account of any series maintains on deposit an amount
less than the required balance of the debt service reserve account for a period that includes two or more consecutive payment methods;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Insolvency event of Concesionaria;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The update of a new insolvency event in relation to the Concesionaria;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt 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"><FONT STYLE="font-size: 10pt">vi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Updating a new event of default.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event of default, the Trustee will refrain
from delivering any amount that it would otherwise be to require to deliver to Concesionaria and will dedicate use such cash flow to amortize
the principal of the trust notes (&ldquo;CEBUR&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2021, the Company renewed the working
capital facility with Banco Sabadell S.A., Instituci&oacute;n de Banca Multiple (&ldquo;Sabadell&rdquo;) in Mexican pesos, bearing annual
interest rate at TIIE 28 days plus a 240 basis points. As of December 31, 2022, the Company has completely disbursed the facility.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The &ldquo;Sabadell&rdquo; working capital facility
includes certain obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2022, the Company renewed the working
capital facility with Banco Actinver S.A., Instituci&oacute;n de Banca M&uacute;ltiple (&ldquo;Actinver&rdquo;) in Mexican pesos, bearing
annual interest rate at TIIE 28 days plus a 250 basis points. As of December 31, 2022, the Company has completely disbursed the facility.</P>

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


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The &ldquo;Actinver&rdquo; working capital facility
includes certain obligations.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2022 and December 2021, all the Company&acute;s financial
liabilities were classified in accordance with the terms and conditions provided in each loan agreement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>8.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Cash, cash equivalents and restricted cash</B></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An analysis of this caption is as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2022</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2021</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt; width: 56%">Cash in banks</TD><TD STYLE="font-weight: bold; width: 8%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; width: 1%">US$</TD><TD STYLE="font-weight: bold; text-align: right; width: 12%">77,224</TD><TD STYLE="font-weight: bold; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">US$</TD><TD STYLE="text-align: right; width: 12%">463,666</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Short-term investments</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>627,331</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">270,028</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">Cash on hand</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">425</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">266</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Restricted funds held in trust related to debt service reserves</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6,873</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,162</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 5.5pt">Total cash, cash equivalents and restricted cash</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>711,853</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">741,122</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2022 and December 31, 2021, the
Company recorded a portion of advance ticket sales by an amount of US$6,873 and US$7,162, respectively as a restricted fund. The restricted
funds held in Trust are used to constitute the debt service reserves and cannot be used for purposes other than those established in the
contract of the Trust.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 10pt"><B>9.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Related parties</B></FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">An analysis of balances due from/to related parties at As of December 31,
2022 and December 31, 2021 is provided below.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All companies are considered affiliates, since the
Company&rsquo;s primary shareholders or directors are also direct or indirect shareholders of the related parties:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Type of transaction</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Country <BR>
of origin</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B>December 31, 2022</B></P>

</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2021</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Terms</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; width: 48%"><FONT STYLE="font-size: 8pt"><B>Due from:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; width: 15%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; width: 9%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 3%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; width: 7%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 3%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; width: 7%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right; width: 8%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Frontier Airlines Inc. (&ldquo;Frontier&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Code - share</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">USA</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>2,155</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">4,662</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Due to:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (&ldquo;OMA&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Airport Services</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">Mexico</P></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B>US$</B></P></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B>13,579</B></P></TD>
    <TD STYLE="text-align: right; vertical-align: bottom"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">9,687</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Chevez, Ruiz, Zamarripa y C&iacute;a., S.C.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Professional fees</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;815</B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&#9;455</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">A&amp;P International Services, S.A.P.I (&ldquo;AISG&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Aircraft and engine maintenance</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;191</B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Mijares, Angoitia, Cort&eacute;s y Fuentes, S.C.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Professional fees</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;22</B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Frontier Airlines Inc. (&ldquo;Frontier&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Code-share</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">USA</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>2</B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&#9;2</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">MRO Commercial, S.A. (&ldquo;MRO&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Aircraft maintenance and technical support</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Aeromantenimiento, S.A. (&ldquo;Aeroman&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Aircraft maintenance and technical support</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;- </B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">403</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: right; vertical-align: bottom; padding-right: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>14,610</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: right; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: right; vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">10,547</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>


<!-- Field: Page; Sequence: 41 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">During the three months ended December 31, 2022 and 2021, the Company had
the following transactions with related parties:</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Related party transactions</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Country of origin</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>2022</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Revenues:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Transactions with affiliates</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Frontier Airlines Inc&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;<FONT STYLE="font-size: 8pt">Code-share&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">USA</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3 </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Expenses:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Transactions with affiliates</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Grupo Aeroportuario del Centro &nbsp;Norte, S.A.B. de C.V. (&ldquo;OMA&rdquo;)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Airport services&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>3,251 </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;1,921</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">MRO Commercial, S.A.&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; width: 52%; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Aircraft &nbsp;maintenance&nbsp;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,033</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Chevez, Ruiz, Zamarripa y C&iacute;a, S.C.&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Professional fees&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>523</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">70</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">A&amp;P International Services, S.A.P.I (&ldquo;AISG&rdquo;)&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Aircraft and engine maintenance&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>467</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Aeromantenimiento, S.A.&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Aircraft&nbsp;&nbsp;maintenance&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">62</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Technical support</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>81</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">18</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Servprot, S.A. de C.V. &nbsp;&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"> </FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B> </B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"> </FONT></TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Security services&nbsp;&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>56</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">44</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Mijares, Angoitia, Cort&eacute;s y Fuentes, S.C.&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;Professional fees&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>34</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">214</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">During the twelve months ended December 31, 2022 and 2021, the Company had
the following transactions with related parties:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Related party transactions</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Country of origin</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-left: 1.4pt">Revenues:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Transactions with affiliates</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Frontier Airlines Inc</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 1.4pt">&nbsp;&nbsp;Code-share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.4pt">USA</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;5</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,547</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-left: 1.4pt">Expenses:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Transactions with affiliates</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">MRO Commercial, S.A.</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt"></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left"></TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left"></TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Aircraft maintenance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.4pt">El Salvador</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>11,097</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;-</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (&ldquo;OMA&rdquo;)</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 49%; text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Airport services</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center; padding-left: 1.4pt">Mexico</TD><TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 5%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-weight: bold; text-align: right">9,792</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">6,607</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Aeromantenimiento, S.A.</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Aircraft maintenance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.4pt">El Salvador</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">3,690</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,964</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Technical support</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.4pt">El Salvador</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">170</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">143</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Chevez, Ruiz, Zamarripa y C&iacute;a, S.C.</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Professional fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.4pt">Mexico</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">923</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">238</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">A&amp;P International Services, S.A.P.I (&ldquo;AISG&rdquo;)</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Aircraft and engine maintenance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.4pt">Mexico</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">914</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Servprot, S.A. de C.V. </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.4pt"></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right"></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: right"></TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Security services</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.4pt">Mexico</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">207</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>


<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">Mijares, Angoitia, Cort&eacute;s y Fuentes, S.C.</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: center; padding-left: 1.4pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Professional fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 1.4pt">Mexico</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">196</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">214</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;Frontier&rdquo; is a related party because
Mr.&nbsp;William A. Franke and Brian H. Franke are members of the board of the Company and Frontier as well as Indigo Partners, the latest
has investments in both Companies. As of December 31, 2022 and December 2021, the accounts receivable from Frontier were US$2,155 and
US$4,662, respectively. Additionally, as of December 31, 2022 and December 2021, the account payable was US$2 and US$2, respectively.</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; text-align: justify">During the three months period ended December 31,
2022, the Company did not have revenue transaction. During the three months period ended December 31, 2021, the Company have revenue US$3.
During the twelve months period ended December 31, 2022 and 2021, the Company recognized revenue under this agreement of US$5 and US$3,547,
respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Frontier started having transactions with the Company
in August 2018. As of December 31, 2022 and December 31, 2021, there have been no guarantees provided or received for any related party
receivables or payables. During the three months and twelve months ended December 31, 2022 and 2021, no provision for expected credit
losses has been recognized, due to the Company considers the credit risk is minimal, and these balances are current accounts.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Grupo Aeroportuario del Centro Norte (&ldquo;OMA&rdquo;)</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 22, 2020, Grupo Aeroportuario del Centro
Norte, S.A.B. de C.V. (&ldquo;OMA&rdquo;) became a related party because Mrs.&nbsp;Guadalupe Phillips Margain is an independent member
of the board of directors the Company and member of the board of directors of OMA. Mr. Ricardo Maldonado Ya&ntilde;ez is also an independent
member of the board of directors of the Company and OMA. As of December 31, 2022 and December 31, 2021, the account payable with OMA was
US$13,579 and US$9,687, respectively.</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; text-align: justify">During the three months ended December 31, 2022 and
2021, the Company recognized expenses with OMA of US$3,251 and US$1,921, respectively. During the twelve months ended December 31, 2022
and 2021, the Company recognized expenses with OMA of US$9,792 and US$6,607, respectively</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">f)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Chevez, Ruiz, Zamarripa y Cia, S.C (&ldquo;Chevez&rdquo;)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Chevez, Ruiz, Zamarripa y Cia, S.C. (&ldquo;Chevez&rdquo;)
is a related party because Mr.&nbsp;Jos&eacute; Luis Fern&aacute;ndez Fern&aacute;ndez is an independent member of the board of directors,
as well as the chairman of the Audit and Corporate Governance Committee of the Company and non-managing partner of Chevez. Chevez provides
tax advisory services to us. As of December 31, 2022 and December 31, 2021, the account payable with Chevez was US$815 and US$455, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months period and ended December
31, 2022, and 2021 the Company recognized expenses with Chevez of US$523 and US$70, respectively. During the twelve months period and
ended December 31, 2022, and 2021 the Company recognized expenses with Chevez of US$923 and US$238, respectively.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">g)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Aeroman</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Aeroman is a related party, because Marco Baldocchi
a member of the board of the Company&rsquo;s board of directors is an alternate director of Aeroman. On January 1<SUP>st</SUP>, 2017,
the Company entered into an aircraft maintenance and repair services agreement with Aeromantenimiento, S.A., which was extended and amended
to be entered into with MRO Commercial, S.A. (&quot;MRO&rdquo;), an affiliate of Aeroman on January 1<SUP>st</SUP> 2022. This agreement
provides for the exclusive use of Aeroman's services for the repair and maintenance of aircraft, subject to availability. Under this agreement,
Aeroman provides inspection, maintenance, repair and overhaul services for aircraft. The Company makes payments under this agreement depending
on the services performed. This agreement is for a 5 year term, extended for an additional 5 year period as of January 1st, 2022.</P>

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


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2022, the Company did not have
outstanding balance due to Aeroman. AS of December 31, 2021, the balances due under the agreement with Aeroman were US$403.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended December 2022 and 2021,
the Company incurred expenses in aircraft and technical support with Aeroman amounted to US$81 and US$80. For the twelve months ended
December 31, 2022 y 2021, respectively, the Company incurred expenses in aircraft and technical support with Aeroman amounted to US$3,860
and US$8,107, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2022, the balances due under the
agreement with MRO were US$1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three and twelve months ended December
2022, the Company incurred expenses in aircraft with MRO amounted to US$2,033 and US$11,097, respectively.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">h)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Mijares, Angoitia, Cort&eacute;s y Fuentes, S.C.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mijares, Angoitia, Cort&eacute;s y Fuentes, S.C. (&ldquo;MACF&rdquo;)
is a related party because Ricardo Maldonado Ya&ntilde;ez and Eugenio Macouzet de Le&oacute;n, member and alternate member, respectively,
of the board of the Company since April&nbsp;2018, are partners of MACF provides legal services to us. As of December 31, 2022 the balances
due under the agreement with MACF was US$22 and as of December 31, 2021, the Company did not have outstanding balance due to MACF.</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; text-align: justify">During the three months ended December 2022 and 2021,
the Company recognize expenses in legal services under this agreement amounted to US$34 and US$214, respectively. For the twelve months
ended December 31, 2022 y 2021, the Company recognize expenses in legal services under this agreement amounted to US$196 and US$214, respectively.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Servprot</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Servprot S.A. de C.V. (&ldquo;Servprot&rdquo;) is
a related party because Enrique Beltranena Mejicano, the Company&rsquo;s Chief Executive Officer and director is shareholder of such company.
Servprot provides security services for Mr. Beltranena and his family. As of December 31, 2022 and December 31, 2021, there are not outstanding
balance due to Servprot under this agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months period ended December 31,
2022 and 2021 the Company expensed US$56 and US$44, respectively, for this concept. During the twelve months period ended December 31,
2022 and 2021 the Company expensed US$207 and US$175, respectively, for this concept.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">j)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">AISG</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><FONT STYLE="font-size: 10pt">A&amp;P
International Services, S.A.P.I. de C.V. (&ldquo;AISG&rdquo;) is a related party since Harry F. Krensky, a member of our Board of
Directors, is the Chairman of the Board of Directors of AISG. Additionally, Harry F. Krensky is managing partner of Discovery
Americas, a private equity firm that indirectly holds/manages an investment position in AISG, through Newton Investors, L.P and
DAIVCK 16. As of July 4, 2022 Discovery acquire the 50% of AISG. As of December 31, 2022 the account payable from AISG was
US$191.</FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three and twelve months ended December
31, 2022, the Company recognize expenses in aircraft and engine maintenance amounted to US$467 and US$914, respectively, for this concept.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">k)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Directors and officers</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months period ended December 31,
2022 and 2021, the chairman and the independent members of the Company&rsquo;s board of directors received a net compensation of US$160
and US$159 respectively, and the rest of the directors received a net compensation of US$51 and US$48, respectively. During the twelve
months period ended December 31, 2022 and 2021, the chairman and the independent members of the Company&rsquo;s board of directors
received a net compensation of US$561 and US$622 respectively, and the rest of the directors received a net compensation of US$177 and
US$179, respectively.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">During the three months
period ended December 31, 2022 and 2021, all the Company&rsquo;s senior managers received an aggregate compensation of short and long-term
benefits of US$8,455 and US$8,516, respectively, these amounts were recognized in salaries and benefits in the condensed consolidated
statement of operations. During the twelve months period ended December 31, 2022 and 2021, all the Company&rsquo;s senior managers received
an aggregate compensation of short and long-term benefits of US$17,630 and US$18,829, respectively, these amounts were recognized in salaries
and benefits in the condensed consolidated statement of operations.</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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: 13.5pt"><B>10.</B></TD><TD STYLE="text-align: justify"><B>Inventories</B></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-align: justify">An analysis of inventories as of December 31, 2022
and December 31, 2021 is as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 8pt; line-height: 105%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2022</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 8pt; line-height: 105%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2021</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 67%; padding-bottom: 8pt; padding-left: 1.4pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Spare parts and accessories of flight equipment</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 8pt; text-align: justify; line-height: 105%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-bottom: 8pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>US$</B></FONT></TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; padding-bottom: 8pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>15,758&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 8pt; text-align: justify; line-height: 105%">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-bottom: 8pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">US$</FONT></TD>
    <TD STYLE="width: 10%; padding-bottom: 8pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">14,397</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The inventory items are consumed during or used mainly
in delivery of in-flight services and for maintenance services by the Company and are valued at the lower of cost or replacement value.
The Company recognizes the necessary estimates for decreases in the value of its inventories due to impairment, obsolescence, slow movement
and causes that indicate that the use or realization of the aircraft spare parts and flight equipment accessories that are part of the
inventory will be less than recorded value.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months period as of December 31,
2022 and 2021, the amount of consumption of inventories, recorded as an operating expense as part of maintenance expense was US$4,503
and US$4,419, respectively. During the twelve months period as of December 31, 2022 and 2021, the amount of consumption of inventories,
recorded as an operating expense as part of maintenance expense was US$17,825 and US$15,406, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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: 13.5pt"><B>11.</B></TD><TD STYLE="text-align: justify"><B>Rotable spare parts, furniture and equipment, net</B></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-align: justify">a) Acquisitions and disposals</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; text-align: justify">For the twelve months ended December 31, 2022 and
2021, the Company acquired rotable spare parts, furniture, and equipment by an amount of US$347,147 and US$186,121 respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Rotable spare parts, furniture and equipment by US$223,243
and US$61,618, were disposed for the twelve months ended December 31, 2022 and 2021, respectively. These amounts included reimbursements
of pre-delivery payments for aircraft acquisition of US$221,253 and US$43,678, respectively.</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; text-align: justify">b) Depreciation expense</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; text-align: justify">Depreciation expense for the three months period
ended December 31, 2022 and 2021 was US$28,049 and US$17,196, respectively. Depreciation expense for the twelve months period ended December
31, 2022 and 2021 was US$90,790 and US$50,297, respectively. Depreciation charges for the period are recognized as a component of operating
expenses in the condensed consolidated statements of operations.<B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 45 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: 13.5pt"><B>12.</B></TD><TD STYLE="text-align: justify"><B>Intangible assets, net</B></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-align: justify">a) Acquisitions</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">For the twelve months ended December 31, 2022 and 2021, the Company acquired
intangible assets by an amount of US$6,790 and US$10,063, respectively.</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; text-align: justify">b) Amortization expense</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Software amortization expense for the three months
period ended December 31, 2022 and 2021 was US$1,668 and US$1,639, respectively. Software amortization expense for the twelve months period
ended December 31, 2022 and 2021 was US$6,696 and US$6,752, respectively. These amounts were recognized in depreciation and amortization
in the condensed consolidated statements of operations.&nbsp;</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: 13.5pt"><B>13.</B></TD><TD STYLE="text-align: justify"><B>Leases</B></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-align: justify">The most significant leases are as follows:</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; text-align: justify">Aircraft and engines represent the Company&acute;s
most significant lease agreements. On December 31, 2022 the Company leases 116 aircraft (100 as of December&nbsp;31, 2021) and 23 spare
engines (20 as of December&nbsp;31, 2021) that have maximum terms through 2034. The leases are generally guaranteed by either deposit
in cash or letters of credits.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Composition of the fleet and spare engines leases*:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 27%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Aircraft</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Type</B></P></TD>
    <TD STYLE="vertical-align: bottom; width: 25%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Model</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 23%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>At December 31,2022</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 25%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>At
December 31, 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">A319</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">132</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">3</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">A319</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">133</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">A320</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">233</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>39</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">39</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">A320</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">232</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">1</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">A320NEO</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">271N</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>48</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">39</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">A321</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">231</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>10</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">10</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">A321NEO</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">271N</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>15</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">6</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;116</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;100</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 27%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Engine spare</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Type</B></P></TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Model</B></FONT></TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>At December 31,2022</B></FONT></TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>At
December 31, 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">lV2500</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">V2524-A5</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 8pt"><B>2</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">V2500</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">V2527M-A5</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="text-align: center; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">3</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">V2500</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">V2527E-A5</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">5</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">V2500</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">V2527-A5</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">4</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">PW1100</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">PW1127G-JM</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 8pt"><B>5</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">5</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">PW1100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">PW1133G-JM</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">1</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; text-align: center"><FONT STYLE="font-size: 8pt"><B>23</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">20</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*Certain of the Company&rsquo;s aircraft and engine
lease agreements include an option to extend the lease term period. Terms and conditions are subject to market conditions at the time
of renewal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months period ended December 31,
2022, the Company added five new leased aircraft to its fleet (Two A321NEO, acquired through a sale and leaseback transaction under our
existing Airbus purchase agreement, one A320 NEO and two A321 NEO obtained directly from the lessor&acute;s aircraft order book). The
Company did not extend aircraft leases during this term.</P>

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


<!-- Field: Page; Sequence: 46 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the twelve months period ended December 31,
2022, the Company added eighteen new leased aircraft to its fleet (seven A321 NEO and six A320 NEO, acquired through a sale and leaseback
transaction under our existing Airbus purchase agreement, three A320 NEO and two A321 NEO obtained directly from the lessor&acute;s aircraft
order book). Also, the Company extended the term of two A321CEO (effective in April and May 2023), two A320CEO (effective in September
2022 and July 2023) and one A319CEO (effective in March 2022). All the aircraft incorporated through the lessor&acute;s aircraft order
book weren&rsquo;t subject to sale and leaseback transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the twelve months period ended December 31,
2022, the Company also incorporated three CEO spare engines. Such leases were not subject to sale and leaseback transactions. Also, the
Company extended the lease term of two spare engines (effective from February 2022).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2021, the Company
added fifteen new leased aircraft to its fleet (five A320 NEO&acute;s acquired through sale and leaseback transactions under our existing
Airbus purchase agreement and ten obtained directly from the lessor&acute;s aircraft order book).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Also, the Company extended the lease term of thirteen
A320CEO (effective from 2022, 2023 and 2025) and two A319CEO (effective from 2021). All the aircraft incorporated through the lessor&acute;s
aircraft order weren&rsquo;t subject to sale and leaseback transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December 31, 2021, the Company
also incorporated two CEO spare engines. Such leases were not subject to sale and leaseback transactions. Also, the Company extended the
lease term of three spare engines (two of them effective from February 2021 and the other from October 2021).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Set out below are the carrying amounts of right-of-use assets recognized
and the movements during the period:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Aircraft leases</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Spare engine leases</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and building leases</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">As of December 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">US$</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,862,664</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">US$</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&#9;&nbsp;&#9;&nbsp;&nbsp;34,953</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">US$&#9;</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;&#9;&nbsp;19,618</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">US$</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;&nbsp;1,917,235</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Additions</TD><TD STYLE="width: 3%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">521,711</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">1,023</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">30,597</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold; text-align: right">553,331</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Modifications</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">25,895</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(168</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">5,081</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">30,808</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Disposals</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Foreign exchange effect</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">&nbsp;&nbsp;Depreciation on right of use assets</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(299,517</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(11,627</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(9,299</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(320,443</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 1.4pt">As of December 31, 2022</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,110,753&#9;</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>24,181</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>45,997</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B> 2,180,931</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></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">&nbsp;Set out below are the carrying amounts of lease liabilities and the
movements during the period:</P>

<P STYLE="font: 11pt/105% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 1.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>As of January 1<SUP>st,</SUP></B></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,412,137</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,212,201</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 56%; text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Additions</TD><TD STYLE="width: 8%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-weight: bold; text-align: right">550,834</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">464,049</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Modifications</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">29,842</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67,589</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Disposals</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(291</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Accretion of interest</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">165,043</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">127,329</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Foreign exchange effect</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(129</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">228</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">&nbsp;&nbsp;Payments</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(449,004</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(458,968</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 1.4pt">As of 31 December,</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,708,723</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">2,412,137</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Current</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>335,620</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">283,843</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.4pt">&nbsp;&nbsp;Non-current</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,373,103</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt"></FONT></P>
                                                                       <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt">2,128,294</FONT></P></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

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


<!-- Field: Page; Sequence: 47 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following are the amounts recognized in profit
or loss for the three months period ended December 31, 2022 and 2021:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the three months period ended</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2022</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Depreciation of right-of-use assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">US$</TD>
    <TD STYLE="font-weight: bold; text-align: right">&#9;&nbsp;83,693</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">US$</TD>
    <TD STYLE="text-align: right">&nbsp;69,064</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: left; padding-left: 1.4pt">Interest expense on lease liabilities and aircraft and engine lease return obligation</TD><TD STYLE="width: 8%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-weight: bold; text-align: right">50,058</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">38,526</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">Aircraft and engine variable expenses</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">34,447</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,733</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 1.4pt">Total amount recognized in profit or loss</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>168,198</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">122,323</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company had total cash outflows for leases for
the three months period ended December 31, 2022 of US$116,516 (US$126,419 as of December 31, 2021).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following are the amounts recognized in profit
or loss for the twelve months period ended December 31, 2022 and 2021:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">For the twelve months period ended</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: justify">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2022</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Depreciation of right-of-use assets</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">US$</TD>
    <TD STYLE="font-weight: bold; text-align: right">&#9;&nbsp;320,443</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">US$</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;269,351</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: left; padding-left: 1.4pt">Interest expense on lease liabilities and aircraft and engine lease return obligation</TD><TD STYLE="width: 8%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-weight: bold; text-align: right">174,769</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">128,159</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">Aircraft and engine variable expenses</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">124,532</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">83,373</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 1.4pt">Total amount recognized in profit or loss</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>619,744</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">480,883</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company had total cash outflows for leases for
the twelve months period ended December 31, 2022 of US$449,004 (US$458,968 as of December 31, 2021).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 10pt"><B>i)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Return obligations</B>&nbsp;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">For the three months period
ended December 31, 2022 and 2021, the Company expensed as supplemental rent US$16,861 and US$15,977, respectively. For the twelve months
period ended December 31, 2022 and 2021, the Company expensed as supplemental rent US$58,658 and US$55,668, respectively.</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: 9pt"><B>ii)</B>&nbsp;<B></B></TD><TD STYLE="text-align: justify"><B>Extension options</B></TD></TR></TABLE>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">For the leases which it was decided to exercise the extension for the three
months period ended December 31, 2022 and 2021, resulted in an increase in the lease liability and corresponding right of use assets by
US$1,988 and US$0, respectively. For the leases which it was decided to exercise the extension for the twelve months period ended December
31, 2022 and 2021, resulted in an increase in the lease liability and corresponding right of use assets by US$30,653 and US$66,850, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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: 13.5pt"><B>14.</B></TD><TD STYLE="text-align: justify"><B>Equity</B></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-align: justify">As of December 31, 2022, the total number of the Company&rsquo;s
authorized shares was 1,165,976,677; represented by common registered shares, issued and with no par value, fully subscribed and paid,
comprised as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; width: 37%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; width: 20%"><FONT STYLE="font-size: 8pt"><B>Fixed<BR>
Class I</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; width: 20%"><FONT STYLE="font-size: 8pt"><B>Variable<BR>
Class II</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; width: 23%"><FONT STYLE="font-size: 8pt"><B>Total shares</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Series A shares <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>10,478</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,108,452,326</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,108,462,804</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Series B shares <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>13,702</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57,500,171</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57,513,873</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>24,180</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,165,952,497</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,165,976,677</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Treasury shares </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13,452,393)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13,452,393) </B><SUP>(1)</SUP></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>24,180</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,152,500,104</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,152,524,284</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 8pt"><SUP>(1)</SUP></FONT><FONT STYLE="font-size: 10pt">&nbsp;The
number of forfeited shares as of December 31, 2022 were 103,712 which are include in treasury shares.</FONT></P>


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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December&nbsp;31, 2021, the total number of
the Company&rsquo;s authorized shares was 1,165,976,677; represented by common registered shares, issued and with no par value, fully
subscribed and paid, comprised as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; width: 36%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; width: 20%"><FONT STYLE="font-size: 8pt"><B>Fixed<BR>
Class I</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; width: 21%"><FONT STYLE="font-size: 8pt"><B>Variable<BR>
Class II</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center; width: 23%"><FONT STYLE="font-size: 8pt"><B>Total shares</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Series A shares <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">10,478</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,108,452,326</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,108,462,804</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Series B shares <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">13,702</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57,500,171</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57,513,873</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: right; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">24,180</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,165,952,497</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,165,976,677</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Treasury shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9,904,197)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9,904,197) <SUP>(1)</SUP></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: right; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">24,180</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,156,048,300</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,156,072,480</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><SUP>&nbsp;</SUP></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 8pt"><SUP>(1)</SUP></FONT>
<FONT STYLE="font-size: 10pt">The number of forfeited shares as of December 31, 2021 were 551,732, which are include in treasury shares.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All shares representing the Company&rsquo;s capital
stock, either Series A shares or Series B shares, grant the holders the same economic rights and there are no preferences and/or restrictions
attaching to any class of shares on the distribution of dividends and the repayment of capital. Holders of the Company&rsquo;s Series
A common stock and Series B common stock are entitled to dividends when, and if, declared by a shareholders&rsquo; resolution. The Company&rsquo;s
revolving line of credit with Santander and Bancomext limits the Company&rsquo;s ability to declare and pay dividends in the event that
the Company fails to comply with the payment terms thereunder. Only Series A shares from the Company are listed.</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; text-align: justify">As of December 31, 2022 and December 2021, the Company
did not declare any dividends.</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; text-align: justify"><B>a) Earnings (loss) per share</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; text-align: justify">Basic earnings (loss) per share (&ldquo;EPS or LPS&rdquo;)
amounts are calculated by dividing the net earnings (loss) for the period attributable to ordinary equity holders of the parent by the
weighted average number of ordinary shares outstanding during the period.</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; text-align: justify">Diluted EPS (LPS) amounts are calculated by dividing
the earnings (loss) attributable to ordinary equity holders of the parent (after adjusting for interest on the convertible preference
shares, if any), by the weighted average number of ordinary shares outstanding during the period plus the weighted average number of ordinary
shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares (to the extent that their
effect is dilutive).</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; text-align: justify">The following table shows the calculations of the
basic and diluted income (loss) per share for the three months period ended December 31, 2022 and 2021:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center">For the three months period ended December 31,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Net income (loss) for the period</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">US$&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27,762</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">US$</TD>
    <TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10,031</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>Weighted average number of shares</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>outstanding (in thousands):</B></P></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; padding-left: 1.4pt">&nbsp;&nbsp;Basic</TD><TD STYLE="width: 8%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-weight: bold; text-align: right">1,165,977</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">1,165,977</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 1.4pt">&nbsp;&nbsp;Diluted</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,165,977</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,165,977</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>EPS &ndash; LPS:</B></P></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 1.4pt">&nbsp;&nbsp;Basic</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>0.024&#9;</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(0.009</FONT></TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 1.4pt">&nbsp;&nbsp;Diluted</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>0.024&#9;</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(0.009</FONT></TD><TD STYLE="text-align: left">)</TD></TR>
  </TABLE>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table shows the calculations of the
basic and diluted (loss) income per share for the twelve months period ended December 31, 2022 and 2021:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 259.75pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 49 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: right; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center">As of December 31,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Net (loss) income for the year</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">US$</TD>
    <TD STYLE="font-weight: bold; text-align: right">(30,465</TD>
    <TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">US$</TD>
    <TD STYLE="text-align: right">106,453</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>Weighted average number of shares</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>outstanding (in thousands):</B></P></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 12pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; padding-left: 1.4pt">&nbsp;&nbsp;Basic</TD><TD STYLE="width: 8%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-weight: bold; text-align: right">1,165,977</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">1,165,977</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 1.4pt">&nbsp;&nbsp;Diluted</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,165,977</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,165,977</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.4pt"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>LPS &ndash; EPS:</B></P></TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 1.4pt">&nbsp;&nbsp;Basic</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>(0.026&#9;</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">0.091</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 1.4pt">&nbsp;&nbsp;Diluted</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>(0.026&#9;</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">US$</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">0.091</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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: 13.5pt"><B>15.</B></TD><TD STYLE="text-align: justify"><B>Income tax</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company calculates the period income tax benefit
(expense) using the tax rate that would be applicable to the expected total annual earnings. The major components of income tax benefit
(expense) in the unaudited condensed consolidated interim statement of operations are:</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>Unaudited condensed consolidated statement of operations</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the three months period</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ended December 31,</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Current year income tax benefit</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">US$</TD>
    <TD STYLE="text-align: right; font-weight: bold">352</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>US$</TD>
    <TD STYLE="text-align: right">&#9;&nbsp;&nbsp;36,151</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">Deferred income tax expense</TD><TD STYLE="width: 8%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(184</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 8%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">(16,802</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">Total income tax benefit</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B></B>168</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">US$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">19,349</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s effective tax rate during the
three months period ended December 31, 2022, and 2021 was 0.61% and 66% respectively.<B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Unaudited condensed consolidated statement of operations&nbsp;</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the twelve months period</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ended December 31,</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Current year income tax benefit (expense)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">US$</TD>
    <TD STYLE="text-align: right; font-weight: bold">&#9;&nbsp;&nbsp;&nbsp;&nbsp;111,534</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>US$</TD>
    <TD STYLE="text-align: right">(16,573</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: left; padding-bottom: 1pt; padding-left: 1.4pt">Deferred income tax expense</TD><TD STYLE="width: 8%; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(15,456</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">)</TD><TD STYLE="width: 8%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">(14,000</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 1.4pt">Total income tax benefit (expense)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>96,078</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(30,573</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
  </TABLE>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company&rsquo;s effective tax rate during the twelve months period
ended December 31, 2022, and 2021 was 76% and 22% respectively.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">As of the date of issuance of these financial statements, the Company has
tax proceedings regarding uncertain tax positions by an amount of about US$31 million, associated to the deductibility of certain Company
expenses during 2013 and 2014. The Company will file legal administrative procedures.</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: 13.5pt"><B>16.</B></TD><TD STYLE="text-align: justify"><B>Commitments and contingencies</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></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>Aircraft related commitments and financing arrangements</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">Committed expenditures for aircraft purchase and related flight equipment
related to the Airbus purchase agreement, including estimated amounts for contractual prices escalations and pre-delivery payments, will
be as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Commitment</B></P>
                                                                                                                                                                                  <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>expenditures in</B></P>
                                                                                                                                                                                  <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>thousands of U.S. dollars</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2023</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>224,629</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 67%; text-align: left">2024</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 20%; font-weight: bold; text-align: right">275,363</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2025</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">711,455</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2026</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,410,003</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">2027 and thereafter</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">4,204,369</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 12pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">US$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>6,825,819</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 50%"><B>VLRS</B></TD><TD STYLE="text-align: right; width: 50%"><B>Consolidated</B></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>Ticker: VLRS </TD><TD STYLE="text-align: right">Quarter: 4 Year: 2022</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">All aircraft acquired by the Company through the Airbus purchase agreement
through December 31, 2022, have been executed through sale and leaseback transactions.</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">In addition, we have commitments to execute sale and leaseback over the
next two years. The estimated proceeds from these commitments are as follows:</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">Aircraft sale prices</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">estimated</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">in thousands of U.S.</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">dollars</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2023</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>165,500</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 67%; text-align: left">2024</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 20%; font-weight: bold; text-align: right">998,000</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2025</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">389,500</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 12pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">US$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,553,000</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For future aircraft deliveries the Company will review the lease and financing
structure applicable based on the then current market conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The future lease payments for these non-cancellable sale and leaseback
contracts are as follows:</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 12pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0">Aircraft leases</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">in thousands of U.S.</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">dollars</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2023</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">US$</TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>7,977</B></FONT></TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 67%; text-align: left">2024</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="width: 20%; font-weight: bold; text-align: right">51,720</TD><TD STYLE="width: 1%; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2025</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">104,014</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2026</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">108,400</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">2027 and thereafter</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,028,688</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 12pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">US$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,300,799</B></FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<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>Purchase of additional A320 New Engine Option (&ldquo;NEO&rdquo;) family
aircraft</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 28, 2017, the Company amended the agreement
with Airbus, S.A.S. (&ldquo;Airbus&rdquo;) for the purchase of additional 80 A320NEO family aircraft to be delivered from 2022 to 2026,
which was further amended in July 2020 to reschedule the deliveries between 2023 and 2028. Additionally, in November 2021 the Company
entered into a new amendment to the referred agreement to purchase 39 additional A32O New Engine Option Family Aircraft to be delivered
between 2023 and 2029, in addition to the acquisition of these 39 aircraft, the Company exercised its rights under the purchase agreement
with Airbus to convert 20 aircraft from A320NEO to A321NEO aircraft of its current order,&nbsp; all to support the Company&rsquo;s targeted
growth markets in Mexico, United States, Central America and South America.</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">On October 10th, 2022, the Company executed an amendment to our existing
Airbus purchase agreement for the purchase of 25 A32NEO aircraft, all to be delivered in 2030.</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; text-align: justify"><B>Litigation</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; text-align: justify">The Company is a party to legal proceedings and claims that arise during
the ordinary course of business. Certain proceedings are considered possible obligations. Based on the plaintiffs&rsquo; claims, as of
December 31, 2022 and December 31, 2021, these possible contingencies amount to a total of US$4.3 million and US$8 million, respectively</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5pt; text-align: justify">&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: 13.5pt"><B>17.</B></TD><TD STYLE="text-align: justify"><B>Subsequent events</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subsequent to December 31, 2022 and through February 21, 2023:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 20, 2023, the Irrevocable Trusts related to Pre-delivery payments
financing numbers F/1710 and F/1711 with CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, were extinguished.</P>

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


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 23, 2023, the Company through its subsidiary
Concesionaria entered into an agreement with Lealtad Mercadotecnia y Conocimiento Agregados, S.A.P.I. de C.V., a subsidiary of Fomento
Econ&oacute;mico Mexicano, S.A.B. de C.V. (FEMSA), through the aforementioned contract Concesionaria is adhered as a participating company
to the Loyalty Program established and managed by the Supplier (the &ldquo;Program&rdquo;). The Program will offer exclusive benefits
to its users, allowing them to accumulate and redeem reward points with OXXO and Volaris.</P>

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



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

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    <!-- Field: /Page -->

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

<P STYLE="margin: 0"></P>

<P STYLE="font: 1pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #A32885"><B>N</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center; color: #A32885"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center; color: #A32885"><B>Volaris Reports Financial Results</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center; color: #A32885"><B>for the Fourth Quarter and
Full Year 2022</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Mexico City, Mexico, February 21<SUP>st</SUP>,
2023</B> &#8211; Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n, S.A.B. de C.V. (NYSE: VLRS and BMV: VOLAR) (&#8220;Volaris&#8221;
or &#8220;The Company&#8221;), the ultra-low-cost airline serving Mexico, the United States, Central and South America, today announces
its financial results for the fourth quarter and full year 2022<FONT STYLE="font-size: 11pt; line-height: 115%"><SUP>[1]</SUP></FONT>.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 389.9pt">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Fourth Quarter 2022 Highlights</B><SUP>[2]</SUP></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(All figures are reported in U.S. dollars and
compared to 4Q 2021 unless otherwise noted)</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating revenues </B>of $820 million,
a 22% increase. <B>Total revenue per available seat mile (TRASM)</B> increased 2.1% to $8.63 cents.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Available seat miles (ASMs)</B> increased 18%
to 9.5 billion.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating expenses</B> of $760 million,
representing 93% of total operating revenue. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating expenses per available seat
mile (CASM)</B> increased 21% to $8.00 cents. Average economic fuel cost increased 45% to $3.71 per gallon.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CASM ex fuel</B> increased 7.9% to $4.39 cents.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Adjusted CASM ex fuel</B> increased 4.5% to
$4.10 cents. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Net income </B>of $28 million. Earnings per
share of $0.02 and earnings per ADS of $0.24. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EBITDAR </B>of $207 million, a 17% decrease.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EBITDAR margin</B> was 25.2%, a reduction of
11.7 percentage points.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Cash, cash equivalents, and restricted cash
position</B> totaled $712 million, representing 25% of the last twelve months total operating revenue.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; color: #A32885; line-height: 115%">&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Net debt-to-LTM EBITDAR </B>ratio of 3.9 times.</FONT></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<HR COLOR="Black" ALIGN="LEFT" NOSHADE SIZE="1" STYLE="width: 25%; margin-top: 3pt; margin-bottom: 3pt">
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<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><SUP>[1]</SUP> The financial information, unless
otherwise indicated, is presented in accordance with the International Financial Reporting Standards (IFRS).</P>

<P STYLE="margin: 0; font: 8pt/115% Arial, Helvetica, Sans-Serif"><SUP>[2]</SUP> As of January 1, 2022, all figures are reported in U.S. dollars.</P>
<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Full Year 2022 Highlights<SUP>[3]</SUP></B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(All figures are reported in U.S. dollars and
compared to FY 2021 unless otherwise noted)</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating revenues</B> of $2,847 million,
a 29% increase. <B>Total revenue per available seat mile (TRASM)</B> increased 2.1% to $8.07 cents.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Available seat miles (ASMs)</B> increased 26%
to 35.3 billion.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating expenses</B> of $2,803 million,
representing 98% of total operating revenue. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating expenses per available seat
mile (CASM</B>) increased 23% to $7.95 cents. Average economic fuel cost increased 68% to $3.80 per gallon.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CASM ex fuel</B> increased 0.3% to $4.26 cents.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Adjusted CASM ex fuel</B> decreased 0.4% to
$3.97 cents. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Net loss</B> of $30 million. Loss per share
of $0.03 and loss per ADS of $0.26.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EBITDAR </B>of $586 million, a 27% decrease.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Webdings; font-size: 8pt; color: #A32885; line-height: 115%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EBITDAR margin</B> was 20.6%, a decrease of
16.1 percentage points.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 14.2pt; text-align: justify">&#8220;2022 was an important touchstone
for Volaris, as it showcased our ability to deliver on the important financial expectations that are within our control. We flexed our
organization to post strong topline results and expand capacity by 26%, while keeping controllable expenses roughly flat as our adjusted
CASM ex fuel was down 0.4%, all during periods of significant economic volatility. While the 68% increase in fuel costs impacted our margin
in the short term, the discipline and focus our team showed throughout this challenging year is a reminder of why we are poised to lead
Mexican air travel in the coming decade as the premier ULCC globally,&#8221; said Enrique Beltranena, President &amp; Chief Executive
Officer.</P>

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<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt"><SUP>[3]</SUP></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">As
of January 1, 2022, all figures are reported in U.S. dollars.</FONT></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Fourth Quarter and Full Year 2022 Financial
and Operations Highlights<SUP>[4]</SUP></B></P>

<P STYLE="font: 10pt/110% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">(All figures are reported in U.S. dollars and
compared to 4Q 2021 and FY 2021 unless otherwise noted)</P>

<P STYLE="font: 10pt/110% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: #9F3393; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Fourth Quarter</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-left: white 1pt solid; background-color: #9F3393; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Full Year</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 46%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Consolidated Financial Highlights&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Var.</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Var.</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>Total operating revenues (millions)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>820</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>671</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>22%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>2,847</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>2,200</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>29%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">TRASM (cents)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">8.63</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">8.45</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">2.1%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">8.07</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">7.91</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">2.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">ASMs (millions, scheduled &amp; charter)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">9,504</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">8,022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">18%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">35,281</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">28,097</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">26%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">Load Factor (scheduled, RPMs/ASMs)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">87.3%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">86.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">0.5 pp</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">85.6%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">84.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">0.9 pp</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">Passengers (thousand, scheduled &amp; charter)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">8,475</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">7,281</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">16%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">31,051</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">24,405</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">27%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">Fleet (end of period)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">117</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">101</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">16</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">117</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">101</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">16</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>Total operating expenses (millions)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>760</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>526</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>44%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>2,803</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>1,803</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>55%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">CASM (cents)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">8.00</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">6.59</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">21%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">7.95</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">6.45</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">23%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">CASM ex fuel (cents)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">4.39</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">4.07</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">7.9%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">4.26</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">4.25</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">0.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">Adjusted CASM ex fuel (cents) <SUP>(1) (2)</SUP></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">4.10</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">3.93</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">4.5%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">3.97</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">3.99</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(0.4%)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>Operating income (EBIT) (millions)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>60</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>145</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>(59%)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>44</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>397</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>(89%)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><I>% EBIT Margin</I></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">7.3%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">21.6%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(14.3 pp)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">1.5%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">18.0%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(16.5 pp)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>Net income (loss) (millions) </B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>28</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>(10)</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>N/A</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>(30)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>106</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>N/A</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><I>% Net income (loss) margin</I></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">3.4%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(1.5%)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">4.9 pp</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(1.1%)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">4.8%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(5.9 pp)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>EBITDAR (millions)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>207</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>248</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>(17%)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>586</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>807</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>(27%)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><I>% EBITDAR Margin</I></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">25.2%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">37.0%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(11.7 pp)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">20.6%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">36.7%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(16.1 pp)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>Net debt-to-EBITDAR</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>3.9x</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>2.5x</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>1.4x</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>3.9x</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>2.5x</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>1.4x</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 12pt 0 0.6pt; text-align: justify">*Note: Figures are rounded for convenience
purposes. Further detail found in financial and operating indicators.</P>

<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">(1) Excludes fuel expense, aircraft and
engine variable lease expenses and sale and lease-back gains.</P>

<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">(2) Reconciliation of CASM to Adjusted
CASM ex fuel:</P>

<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="background-color: #9F3393; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Fourth Quarter</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-left: white 1pt solid; background-color: #9F3393; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Full Year</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="width: 46%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Reconciliation of CASM</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Var.</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2021</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Var.</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>CASM (cents)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>8.00</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>6.59</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>21%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>7.95</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>6.45</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>23%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">&nbsp;- Fuel expense, net</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">3.60</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">2.52</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">43%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">3.68</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">2.20</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">150%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>CASM ex fuel</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>4.39</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>4.07</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>7.9%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>4.26</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>4.25</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>0.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">&nbsp;- Aircraft and engine variable lease expenses<FONT STYLE="line-height: 115%"><SUP>[5]</SUP></FONT></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">0.36</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">0.18</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">97%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">0.35</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">0.30</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">19%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">&nbsp;- Sale and lease back gains</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(0.07)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(0.04)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">98%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(0.06)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">(0.03)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040">75%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>Adjusted CASM ex fuel </B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>4.10</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>3.93</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>4.5%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>3.97</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>3.99</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #404040"><B>(0.4%)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="line-height: 115%"><SUP>[4]</SUP></FONT> As of January 1, 2022,
all figures are reported in U.S. dollars.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt"><SUP>[5]</SUP></FONT>Aircraft redeliveries.</P>
<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B></B></P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>Fourth Quarter 2022 </B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>Total operating revenues</B> in the
quarter was $820 million, a 22% increase, driven by higher capacity and strong load factors. Moreover, demand remained strong throughout
the quarter with healthy booking curves notwithstanding certain headwinds occurring in the markets where Volaris operates.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">Volaris transported 8.5 million passengers
in the quarter, an increase of 16%. Domestic and international passengers increased 14% and 26%, respectively, while total capacity, in
terms of <B>available seat miles (ASMs)</B>, increased 18% to 9.5 billion.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">Load factor reached 87.3%, 0.5 percentage
points higher than in the same period in 2021.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>TRASM</B> increased 2.1% to $8.63 cents
in the quarter. Average base fare was $55, an increase of 2.5%. Ancillary revenue per passenger was $41, a 5.1% increase. Ancillary revenue
represented 42% of total operating revenue, the same level as fourth quarter 2021. Finally, total operating revenue per passenger stood
at $97, representing a 3.9% increase.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>Total operating expenses</B> in the
quarter were $760 million, representing 93% of total operating revenue, compared to 78% in the same period of 2021; a 15pp increase, impacted
by higher fuel costs and the acceleration of our fleet renewal plan.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>CASM</B> totaled $8.00 cents, 21% higher
when compared to the same period of 2021. The average economic fuel cost per gallon increased 45% to $3.71 per gallon in the period.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>CASM ex fuel </B>increased 7.9% to
$4.39 cents and <B>adjusted CASM ex fuel</B> increased 4.5% to $4.10 cents.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>Comprehensive financing result</B>
represented an expense of $32 million in the fourth quarter of 2022, compared to a $174 million expense in the same period of 2021.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">For the fourth quarter, the average exchange
rate was Ps.19.70 per US dollar, a 5.0% appreciation compared to the fourth quarter of 2021. At the end of the quarter, the exchange rate
stood at Ps.19.36 per US dollar.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>Net income </B>in the quarter was $28
million, with earnings per share of $0.02 and earnings per ADS of $0.24. In the same period of 2021, Volaris recorded a net loss of $10
million with a loss per share $0.01 and loss per ADS of $0.09.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>EBITDAR</B> for the quarter was $207
million, a decrease of 17%, negatively impacted by higher fuel expenses. <B>EBITDAR margin</B> stood at 25.2%, a decrease of 11.7 percentage
points.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Balance Sheet, Liquidity and Capital Allocation
</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">Net cash flow provided by operating activities
in the quarter was $168 million, while cash outflows used in investing and financing activities were $104 million and $102 million, respectively.</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0.6pt 35.3pt; text-align: justify; text-indent: -35.3pt">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt 35.3pt; text-align: justify; text-indent: -35.3pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt 35.3pt; text-align: justify; text-indent: -35.3pt"><B>Full Year
2022</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt 35.3pt; text-align: justify; text-indent: -35.3pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>Total operating revenues</B> were $2,847
million, an increase of 29% compared to 2021 levels. Volaris transported 31.1 million passengers, an increase of 27%, while total capacity
for the year, in terms of <B>available seat miles (ASMs)</B>, increased 26% to 35.3 billion. Load factor reached 85.6%, an increase of
0.9 percentage points compared to 2021.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt 35.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>TRASM</B> increased 2.1% to $8.07 cents.
Average base fare was $54, an increase of 3.1%. Ancillary revenue per passenger was $38, posting a 2.5% decrease. Ancillary revenue represented
41% of total operating revenue. Finally, total operating revenue per passenger stood at $92, representing an increase of 0.7%.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt 35.3pt; text-align: justify; text-indent: -35.3pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">Volaris
posted <B>total operating expenses</B> of $2,803 million, representing 98% of total operating revenue, compared to 82% in 2021: a 16pp
increase, mainly driven by higher fuel prices.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>CASM</B> increased 23% to $7.95 cents.
The average economic fuel cost of $3.80 per gallon, a 68% increase compared to 2021 levels.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>CASM ex fuel</B> increased 0.3% to
$4.26 cents and <B>adjusted CASM ex fuel</B> decreased 0.4% to $3.97 cents.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">For the full year 2022, Volaris reported
a comprehensive financing expense of $170 million as compared to the expense of $260 million posted in 2021. The average exchange rate
was Ps.20.12 per US dollar, a 0.8% appreciation compared to 2021. At the end of the period, the exchange rate stood at Ps.19.36 per US
dollar.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>Income tax</B> benefit for the full
year 2022 was $96 million, compared to an expense of $31 million registered in 2021.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">For the full year 2022, Volaris
reported a <B>net loss</B> of $30 million, with a loss per share of $0.03 and loss per ADS of $0.26.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">Volaris
registered an <B>EBITDAR</B> of $586 million, a 27% decrease compared to 2021, primarily attributable to the rise in fuel prices. <B>EBITDAR
margin</B> was 20.6%, a decrease of 16.1 percentage points.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt 35.3pt; text-align: justify; text-indent: -35.3pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Balance Sheet, Liquidity and Capital Allocation
</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">As of December 31, 2022, cash, cash equivalents
and restricted cash were $712 million, representing 25% of the last twelve months total operating revenue.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt 35.3pt; text-align: justify; text-indent: -35.3pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 0.6pt; text-align: left">Net
cash flow provided by operating activities was $614 million, while cash outflows used in investing and financing activities were
$131 million and $513 million, respectively.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">Financial debt and leasing liabilities
totaled $273 million and $2,709 million, respectively, less $712 million of cash, cash equivalents and restricted cash resulted in net
debt of $2,270 million.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>Net debt-to-LTM EBITDAR</B> ratio stood
at 3.9 times, compared to 2.5 times in the same period of 2021 and 3.4 times in the third quarter of 2022.</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>2023 Guidance</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">The Company expects to execute its growth
plans, despite potential global macroeconomic and geopolitical challenges, while continuing to service the robust demand seen within its
current network.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">For the full year 2023, the Company expects:</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 29%; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 37%; background-color: #9F3393; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>2023E</B></FONT></TD>
    <TD STYLE="width: 34%; border-left: white 1pt solid; background-color: #9F3393; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>2022</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-right: white 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Guidance 2023</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">ASM growth</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">~10%*</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">26%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Total operating revenues</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$3.2 to $3.4 billion</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$2.8 billion</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">CASM ex fuel</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$4.6 to $4.8 cents</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$4.26 cents</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">EBITDAR margin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">29% to 31%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">20.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net debt-EBITDAR ratio</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#8804;2.5x</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">3.9x</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">*Already considering expected aircraft manufacturer delays and the availability
of spare engines.&nbsp;</P>

<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">For the full year 2023, CAPEX is expected
to be approximately $300 million, net of financed predelivery payments. This outlook assumes a full-year average USD/MXN rate between
Ps.19.25 to Ps.19.75 and an average U.S. Gulf Coast jet fuel price between $3.00 to $3.10 per gallon; it also assumes no significant unexpected
disruptions related to COVID-19, macroeconomic factors, or other negative impacts on its business.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">The Company's Full Year 2023 Outlook is
based on a number of assumptions, including the foregoing, that are subject to change and may be outside the control of the Company. If
actual results vary from these assumptions, the Company's expectations may change. There can be no assurances that Volaris will achieve
these results.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Fleet</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">During the fourth quarter, Volaris added
four A321neo and one A320neo aircraft to its fleet, bringing the total number of aircraft to 117 as of December 31, 2022. The fleet consisted
of four A319s, 88 A320s, and 25 A321s, with an average age of 5.4 years and an average seating capacity of 192 passengers per aircraft. Of
the total fleet, 54% of the aircraft were New Engine Option (NEO) models. Volaris plans to increase its fleet to approximately 125 aircraft
by the end of 2023.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><I>Investors are urged to carefully read
the Company&#8217;s periodic reports filed with or provided to the Securities and Exchange Commission, for additional information regarding
the Company.</I></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; background-color: white"><B>Investor Relations Contact:</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Ricardo Mart&iacute;nez / <FONT STYLE="color: Blue">ir@volaris.com</FONT></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; background-color: white"><B>Media Contact:</B></P>


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<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">Gabriela Fern&aacute;ndez / <FONT STYLE="color: Blue">gabriela.fernandez@volaris.com</FONT></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>Conference call and webcast details </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><B>Date:</B></FONT></TD>
    <TD STYLE="width: 60%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">Wednesday, February 22<SUP>nd</SUP>, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><B>Time:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">9:00 am Mexico City (CT) / 10:00 am New York (USA) (ET)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><B>United States dial in:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">+1-844-204-8586 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><B>Mexico dial in:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">+52-55-8880-8040 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><B>International dial in:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">+1-412-317-6346</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><B>Participant code:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">Volaris</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Replay access Code:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7384483</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><B>URL for Webcast &amp; video presentation:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Blue; line-height: 115%"><B>V</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: Blue">olaris
    Webcast</FONT></B></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>About Volaris</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">*Controladora Vuela Compa&ntilde;&iacute;a de
Aviaci&oacute;n, S.A.B. de C.V. (&#8220;Volaris&#8221; or the &#8220;Company&#8221;) (NYSE: VLRS and BMV: VOLAR), is an ultra-low-cost
carrier, with point-to-point operations, serving Mexico, the United States, Central and South America. Volaris offers low base fares
to build its market, providing quality service and extensive customer choice. Since the beginning of operations in March 2006, Volaris
has increased its routes from 5 to more than 200 and its fleet from 4 to 121 aircraft. Volaris offers more than 550 daily flight segments
on routes that connect 43 cities in Mexico and 28 cities in the United States, Central and South America with the youngest fleet in Mexico.
Volaris targets passengers who are visiting friends and relatives, cost-conscious business and leisure travelers in Mexico, the United
States, Central and South America. Volaris has received the ESR Award for Social Corporate Responsibility for eleven consecutive years.
For more information, please visit: <FONT STYLE="color: Blue">www.volaris.com.</FONT></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Forward-looking Statements</B></P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Statements in this release contain various forward-looking
statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange
Act of 1934, as amended, which represent the Company's expectations, beliefs or projections concerning future events and financial trends
affecting the financial condition of our business. When used in this release, the words &quot;expects,&quot; &#8220;intends,&#8221; &quot;estimates,&quot;
&#8220;predicts,&#8221; &quot;plans,&quot; &quot;anticipates,&quot; &quot;indicates,&quot; &quot;believes,&quot; &quot;forecast,&quot;
&quot;guidance,&quot; &#8220;potential,&#8221; &quot;outlook,&quot; &quot;may,&quot; &#8220;continue,&#8221; &quot;will,&quot; &quot;should,&quot;
&quot;seeks,&quot; &quot;targets&quot; and similar expressions are intended to identify forward-looking statements. Similarly, statements
that describe the Company's objectives, plans or goals, or actions the Company may take in the future, are forward-looking statements.
Forward-looking statements include, without limitation, statements regarding the Company's full year outlook and intentions and expectations
regarding the delivery schedule of aircraft on order, amount of aircrafts at year end, amount of forward bookings during the holiday season,
ability to maintain the load factor, announced new service routes and customer savings programs. Forward-looking statements should not
be read as a guarantee or assurance of future performance or results and will not necessarily be accurate indications of the times at,
or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those
statements are made and/or management&#8217;s good faith belief as of that time with respect to future events and are subject to risks
and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking
statements. Forward-looking statements are subject to several factors that could cause the Company's actual results to differ materially
from the Company's expectations, including the competitive environment in the airline industry; the Company's ability to keep costs low;
changes in fuel costs; the impact of worldwide economic conditions on customer travel behavior; the Company's ability to generate non-ticket
revenue; and government regulation. Additional information concerning these, and other factors is contained in the Company's US Securities
and Exchange Commission filings. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified
in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date of this release.
You should not put undue reliance on any forward-looking statements. We assume no obligation to update forward-looking statements to reflect
actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required
by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates
with respect to those or other forward-looking statements.</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Supplemental information on non-IFRS
measures</B></P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">We evaluate our financial performance by using
various financial measures that are not performance measures under International Financial Reporting Standards (&#8220;non-IFRS measures&#8221;).
These non-IFRS measures include CASM, CASM ex-fuel, Adjusted CASM ex-fuel, EBITDAR and Net debt-to-LTM EBITDAR. We define CASM as total
operating expenses by available seat mile. We define CASM ex-fuel as total operating expenses by available seat mile, excluding fuel expense.
We define Adjusted CASM ex fuel as total operating expenses by available seat mile, excluding fuel expense, aircraft and engine variable
lease expenses and sale and lease back gains. We define EBITDAR as earnings before interest, income tax, depreciation and amortization,
depreciation of right of use assets and aircraft and engine variable lease expenses. We define Net debt-to-LTM EBITDAR as Net debt divided
by LTM EBITDAR.</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">These non-IFRS measures are provided as supplemental
information to the financial information presented in this release that is calculated and</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">presented in accordance with International Financial
Reporting Standards (&#8220;IFRS&#8221;), because we believe that they, in conjunction with the IFRS financial information, provide useful
information to management&#8217;s, analysts&#8217; and investors&#8217; overall understanding of our operating performance.</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Because non-IFRS measures are not calculated in
accordance with IFRS, they should not be considered superior to and are not intended to be considered in isolation or as a substitute
for the related IFRS measures presented in this release and may not be the same as or comparable to</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">similarly titled measures presented by other companies
due to possible differences in the method of calculation and in the items being adjusted.</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">We encourage investors to review our financial
statements and other filings with the Securities and Exchange Commission in their entirety for additional information regarding the Company
and not to rely on any single financial measure.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a
de Aviaci&oacute;n, S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Financial and Operating Indicators*</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(All metrics are compared to 2021 unless otherwise
noted)</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 48%; border-top: #A03394 1pt solid; border-left: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Unaudited<BR>
(In U.S. dollars, except otherwise indicated)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 19%; border-top: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Three months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2022</B></P></TD>
    <TD ROWSPAN="2" STYLE="width: 20%; border-top: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Three months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2021</B></P></TD>
    <TD ROWSPAN="2" STYLE="width: 10%; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Variance </B></FONT></TD>
    <TD STYLE="padding-bottom: 10pt; width: 2%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total operating revenues (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">820</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">671</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">22.2%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total operating expenses (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">760</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">526</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">44.5%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">EBIT (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">60</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">145</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(58.6%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">EBIT margin</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">21.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(14.3 pp)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Depreciation and amortization (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">114</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">88</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">29.5%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Aircraft and engine variable lease expenses (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">34</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">15</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">126.7%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Net income (loss) (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">28</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(10)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Net income (loss) margin</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(1.5%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.9 pp</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Earnings (loss) per share:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Basic </FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.02</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.01)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Diluted </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.02</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.01)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Earnings (loss) per ADS:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Basic </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.24</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.09)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Diluted </FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.24</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.09)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Weighted average shares outstanding**</B>:</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Basic</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,165,976,677</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,165,976,677</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Diluted</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,165,976,677</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,165,976,677</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Available seat miles (ASMs) (millions) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">9,504</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8,022</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">18.5%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">6,571</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">5,652</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">16.3%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2,933</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2,370</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">23.7%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Revenue passenger miles (RPMs) (millions) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8,300</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">6,968</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">19.1%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">5,831</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">5,076</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">14.9%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2,469</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,892</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">30.5%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Load factor <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">87.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">86.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.5 pp</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">88.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">89.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(1.1 pp)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">84.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">79.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; border-bottom: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.4 pp</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total operating revenue per ASM (TRASM) (cents) <SUP>(1)(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8.63</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8.45</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2.1%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total ancillary revenue per passenger <SUP>(3)(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">41</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">39</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">5.1%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total operating revenue per passenger <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">97</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">93</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3.9%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Operating expenses per ASM (CASM) (cents) <SUP>(1)(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8.00</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">6.59</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">21.3%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">CASM ex fuel (cents) <SUP>(1)(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.39</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.07</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7.9%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Adjusted CASM ex fuel (cents) <SUP>(1)(4)(6)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.10</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3.93</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.5%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Booked passengers (thousands) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8,475</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7,281</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">16.4%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Departures <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">50,950</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">44,473</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">14.6%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Block hours <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">131,860</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">111,656</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">18.1%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Fuel gallons consumed (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">91.9</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">79.0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">16.3%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Average economic fuel cost per gallon <SUP>(4)(5)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3.71</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2.56</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">45.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Aircraft at end of period</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">117</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">101</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">16</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Average aircraft utilization (block hours)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">13.29</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">13.31</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.2%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Average exchange rate</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">19.70</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">20.75</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(5.0%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">End of period exchange rate</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">19.36</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">20.58</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(5.9%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 98%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">*As of January 1, 2022, all financial figures are reported in US dollars.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">**Each ADS represents ten CPOs and each CPO represents a financial interest
    in one Series A share.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">(1) Includes schedule and charter. (3) Includes &#8220;Other passenger
    revenues&#8221; and &#8220;Non-passenger revenues&#8221;.<BR> (2) Includes schedule. (4) Excludes non-derivative financial
    instruments.<BR> (5) Excludes Non-creditable VAT. (6) Excludes fuel expense, aircraft and engine variable lease expenses and sale
    and lease-back gains.</P></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  </TABLE>
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    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a
de Aviaci&oacute;n, S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Financial and Operating Indicators*</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(All metrics are compared to 2021 unless otherwise
noted)</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 48%; border-top: #A03394 1pt solid; border-left: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Unaudited<BR>
(In U.S. dollars, except otherwise indicated)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 20%; border-top: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Twelve months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2022</B></P></TD>
    <TD ROWSPAN="2" STYLE="width: 19%; border-top: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Twelve months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2021</B></P></TD>
    <TD ROWSPAN="2" STYLE="width: 10%; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Variance</B></FONT></TD>
    <TD STYLE="padding-bottom: 10pt; width: 2%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total operating revenues (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2,847</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2,200</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">29.4%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total operating expenses (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2,803</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,803</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">55.5%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">EBIT (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">44</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">397</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(88.9%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">EBIT margin</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">18.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(16.5 pp)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Depreciation and amortization (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">417</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">326</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.9%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Aircraft and engine rent expenses (millions) </FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">125</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">83</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">50.6%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Net (loss) income (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(30)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">106</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Net (loss) income margin</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(1.1%)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(5.9 pp)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(Loss) earnings per share:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Basic </FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.03)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.09</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Diluted </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.03)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.09</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(Loss) earnings per ADS:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Basic </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.26)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.91</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Diluted </FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.26)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.91</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Weighted average shares outstanding**:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Basic</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,165,976,677</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,165,976,677</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Diluted</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,165,976,677</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,165,976,677</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Available seat miles (ASMs) (millions) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">35,281</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">28,097</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">25.6%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">24,604</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">20,099</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">22.4%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">10,676</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7,997</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">33.5%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Revenue passenger miles (RPMs) (millions) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">30,191</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">23,802</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">26.8%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">21,623</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">17,470</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">23.8%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8,569</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">6,332</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">35.3%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Load factor <SUP>(2) </SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">85.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">84.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.9 pp</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">87.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">86.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1.0 pp</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">80.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">79.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1.1 pp</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total operating revenue per ASM (TRASM) (cents) <SUP>(1)(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8.07</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7.91</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2.1%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total ancillary revenue per passenger <SUP>(3)(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">38</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">39</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(2.5%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Total operating revenue per passenger <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">92</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">91</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.7%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Operating expenses per ASM (CASM) (cents) <SUP>(1)(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7.95</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">6.45</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">23.2%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">CASM ex fuel (cents) <SUP>(1)(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.26</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.25</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">0.3%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Adjusted CASM ex fuel (cents) <SUP>(1)(4)(6)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3.97</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3.99</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.4%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Booked passengers (thousands) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">31,051</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">24,405</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.2%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Departures <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">193,050</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">153,913</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">25.4%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Block hours <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">494,475</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">386,752</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.9%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Fuel gallons consumed (millions)</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">340.1</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">273.5</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">24.3%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Average economic fuel cost per gallon <SUP>(4)(5)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3.80</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2.26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">67.9%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Aircraft at end of period</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">117</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">101</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">16</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Average aircraft utilization (block hours)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">13.28</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">12.53</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">6.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Average exchange rate</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">20.12</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">20.28</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(0.8%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">End of period exchange rate</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">19.36</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">20.58</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(5.9%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 98%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">*As of January 1, 2022, all financial figures are reported in US dollars.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">**Each ADS represents ten CPOs and each CPO represents a financial interest
    in one Series A share.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">(1) Includes schedule and charter. (3) Includes &#8220;Other passenger revenues&#8221;
    and &#8220;Non-passenger revenues&#8221;.<BR>
    (2) Includes schedule. (4) Excludes non-derivative financial instruments.<BR>
    (5) Excludes Non-creditable VAT. (6) Excludes fuel expense, aircraft and engine variable lease expenses and sale and lease-back gains.</P></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  </TABLE>
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    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.75in"></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a
de Aviaci&oacute;n, S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Consolidated Statement of Operations*</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(All metrics are compared to 2021 unless otherwise
noted)</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 49%; border-top: #A03394 1pt solid; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Unaudited<BR>
(In millions of U.S. dollars)</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Three months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2022</B></P></TD>
    <TD STYLE="width: 19%; border-top: #A03394 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Three months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2021</B></P></TD>
    <TD STYLE="width: 13%; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Variance</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Operating revenues:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>&nbsp;Passenger revenues</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>792</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>653</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>21.3%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;Fare revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">470</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">394</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">19.3%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;Other passenger revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">322</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">259</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">24.3%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>&nbsp;Non-passenger revenues</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>28</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>25</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>12.0%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;Other non-passenger revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">23</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.5%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;Cargo</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">5</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">66.7%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Non-derivatives financial instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(7)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(100.0%)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Total operating revenues</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>820</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>671</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>22.2%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Other operating income</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(7)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(3)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">133.3%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Fuel expense, net <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">343</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">199</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">72.4%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Landing, take-off and navigation expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">102</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">84</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">21.4%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Depreciation of right of use assets</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">84</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">69</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">21.7%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Salaries and benefits</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">79</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">72</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">9.7%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Sales, marketing and distribution expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">42</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">61.5%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Aircraft and engine variable lease expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">34</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">15</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">126.7%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Other operating expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">30</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">19</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">57.9%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Maintenance expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">23</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">26</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(11.5%)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Depreciation and amortization</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">30</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">19</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">57.9%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Operating expenses</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>760</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>526</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>44.5%</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Operating income</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>60</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>145</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(58.6%)</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Finance income</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">600.0%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Finance cost</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(55)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(43)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.9%</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Exchange gain (loss), net</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">16</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(132)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Comprehensive financing result</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(32)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(174)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(81.6%)</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Income (loss) before income tax</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>28</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(29)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>N/A</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Income tax benefit</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">19</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(100.0%)</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Net income (loss)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>28</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(10)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>N/A</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">*As of January 1, 2022, all figures are reported in US dollars.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">(1) 4Q 2021 figures include a benefit from non-derivatives financial instruments
    by an amount of $3 million.</P></TD>
    </TR>
  </TABLE>

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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a
de Aviaci&oacute;n, S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Consolidated Statement of Operations*</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(All metrics are compared to 2021 unless otherwise
noted)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #A03394">
    <TD STYLE="vertical-align: bottom; width: 47%; border-top: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Unaudited</B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>(In millions of U.S. dollars)</B></FONT></P></TD>
    <TD STYLE="width: 21%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Twelve months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2022</B></P></TD>
    <TD STYLE="width: 21%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Twelve months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2021</B></P></TD>
    <TD STYLE="width: 11%; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Variance</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Operating revenues:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"> </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"> </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"> </FONT></TD>
    </TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>&nbsp;Passenger revenues</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>2,739</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>2,133</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>28.4%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;Fare revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,661</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,266</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">31.2%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;Other passenger revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,078</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">867</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">24.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>&nbsp;Non-passenger revenues</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>108</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>88</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>22.7%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;Other non-passenger revenues</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">93</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">77</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">20.8%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&nbsp;&nbsp;&nbsp;Cargo</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">15</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">11</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">36.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Non-derivatives financial instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(21)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(100.0%)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Total operating revenues</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>2,847</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>2,200</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>29.4%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Other operating income</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(25)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(11)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">127.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Fuel expense, net <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,299</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">609</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">113.3%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Landing, take-off and navigation expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">379</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">297</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Depreciation of right of use assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">320</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">269</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">19.0%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Salaries and benefits</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">283</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">239</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">18.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Aircraft and engine variable lease expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">125</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">83</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">50.6%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Sales, marketing and distribution expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">124</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">97</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Other operating expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">103</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">67</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">53.7%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Maintenance expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">98</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">96</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">2.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Depreciation and amortization</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">97</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">57</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">70.2%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Operating expenses</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>2,803</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>1,803</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>55.5%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Operating income</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>44</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>397</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(88.9%)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Finance income</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">13</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">225.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Finance cost</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(193)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(139)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">38.8%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Exchange gain (loss), net</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">10</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(125)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Comprehensive financing result</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(170)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(260)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(34.6%)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(Loss) income before income tax</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(126)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>137</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Income tax benefit (expense)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">96</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(31)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Net (loss) income</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(30)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>106</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">*As of January 1, 2022, all figures are reported in US dollars.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">(1) December YTD 2021 figures include a benefit from non-derivative financial
    instruments by an amount of $9 million.</P></TD></TR>
  </TABLE>

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    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n,
S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Reconciliation of total ancillary revenue per passenger*</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(All metrics are compared to 2021 unless otherwise
noted)</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">The following table shows quarterly additional detail about the components
of total ancillary revenue:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #A03394">
    <TD STYLE="vertical-align: bottom; width: 46%; border-top: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Unaudited <BR>
(In millions of U.S. dollars)</B></FONT></TD>
    <TD  STYLE="width: 18%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Three months ended </B></P>
    <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2022</B></P></TD>
    <TD  STYLE="width: 18%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Three months ended </B></P>
    <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2021</B></P></TD>
    <TD  STYLE="width: 18%; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: white"><B>Variance</B></FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"> </FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"> </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"> </FONT></TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black">Other passenger revenues </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">322</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">259</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">24.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black">Non-passenger revenues </FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">23</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">4.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black"><B>Total ancillary revenues</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">345</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">281</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">22.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black">Booked passengers (thousands) </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">8,475</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">7,281</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">16.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black"><B>Total ancillary revenue per passenger</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">41</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">39</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">5.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">*As of January 1, 2022, all financial figures are reported in US dollars.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">(1) Includes schedule and charter.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n,
S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Reconciliation of total ancillary revenue per passenger*</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(All metrics are compared to 2021 unless otherwise
noted)</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">The following table shows the twelve months of the year additional detail
about the components of total ancillary revenue:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #A03394">
    <TD STYLE="vertical-align: bottom; width: 44%; border-top: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Unaudited <BR>
(In millions of U.S. dollars)</B></FONT></TD>
    <TD  STYLE="width: 22%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Twelve months </B></P>
    <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>ended </B></P>
    <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2022</B></P></TD>
    <TD  STYLE="width: 18%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Twelve months ended </B></P>
    <P STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2021</B></P></TD>
    <TD  STYLE="width: 16%; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: white"><B>Variance</B></FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black">Other passenger revenues </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,078</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">867</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">24.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black">Non-passenger revenues </FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">93</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">77</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">20.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black"><B>Total ancillary revenues</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">1,171</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">944</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">24.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black">Booked passengers (thousands) <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">31,051</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">24,405</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: black"><B>Total ancillary revenue per passenger</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">38</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">39</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(2.5%)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; border-bottom: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">*As of January 1, 2022, all financial figures are reported in US dollars.</P>

<P STYLE="font: 7pt/115% Arial, Helvetica, Sans-Serif; margin: 0">(1) Includes schedule and charter.</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a de
Aviaci&oacute;n, S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Consolidated Statement of Financial Position*</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(All metrics are compared to 2021 unless otherwise
noted)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #A03394">
    <TD STYLE="vertical-align: bottom; width: 54%; border-top: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Unaudited</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 23%; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>December 31, 2022</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 23%; border-top: #A03394 1pt solid; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>December 31, 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #A03394">
    <TD STYLE="border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>(In millions of U.S. dollars)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Assets</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Cash, cash equivalents and restricted cash</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">712</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">741</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Accounts receivable, net</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">240</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">106</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Inventories</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Prepaid expenses and other current assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">33</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">38</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Assets held-for-sale</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Guarantee deposits</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">64</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">79</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total current assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,066</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>978</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Rotable spare parts, furniture and equipment, net</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">479</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">455</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Right of use assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,181</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1,917</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Intangible assets, net</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Derivatives Financial Instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Deferred income taxes</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">257</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">141</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Guarantee deposits</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">484</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">455</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other long- term assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">24</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total non-current assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3,451</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3,006</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4,517</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3,984</B></FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Liabilities</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Unearned transportation revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">346</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">304</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Accounts payable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">210</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">119</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Accrued liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">188</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">177</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Lease Liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">336</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">284</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other taxes and fees payable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">218</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">131</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Income taxes payable</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Financial debt</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">112</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">197</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">35</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total short-term liabilities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,421</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,251</B></FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Financial debt</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">161</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">108</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Accrued liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Lease Liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,373</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2,128</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">244</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">167</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Employee benefits</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Deferred income taxes</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total long-term liabilities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2,819</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2,420</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total liabilities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4,240</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3,671</B></FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Equity</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Capital stock</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">248</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">248</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Treasury shares </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(13)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(9)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Contributions for future capital increases</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Legal reserve</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Additional paid-in capital</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">283</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">281</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Accumulated deficit</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(106)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(76)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Accumulated other comprehensive loss</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(152)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(148)</FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total equity</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>277</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>313</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total liabilities and equity</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4,517</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3,984</B></FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Weighted average shares outstanding**</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,165,976,677</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1,165,976,677</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">*As of January 1, 2022, all figures are reported in US dollars.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">**Each ADS represents ten CPOs and each CPO represents a financial interest
    in one Series A share.</P></TD></TR>
  </TABLE>

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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a de
Aviaci&oacute;n, S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Consolidated Statement of Cash Flows &#8211; Cash Flow
Data Summary*</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(All metrics are compared to 2021 unless otherwise
noted)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 60%; border-top: #A030A0 1pt solid; border-left: #A030A0 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Unaudited<BR>
(In millions of&nbsp;&nbsp;U.S. dollars)</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 19%; border-top: #A030A0 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Three months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2022</B></P></TD>
    <TD ROWSPAN="2" STYLE="width: 18%; border-top: #A030A0 1pt solid; border-right: #A030A0 1pt solid; background-color: #A03394; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>Three months ended </B></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; color: white"><B>December 31, 2021</B></P></TD>
    <TD STYLE="padding-bottom: 10pt; width: 2%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Net cash flow provided by operating activities</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">168</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">248</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Net cash flow used in investing activities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(104)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(68)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Net cash flow used in financing activities <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(102)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">(90)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>&nbsp;(Decrease) increase in cash, cash equivalents and restricted cash</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>(38)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>90</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Net foreign exchange differences</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">27</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Cash, cash equivalents and restricted cash at beginning of period</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">750</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">624</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A030A0 1pt solid; border-left: #A030A0 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>Cash, cash equivalents and restricted cash at end of period</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A030A0 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>712</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; border-bottom: #A030A0 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black"><B>741</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">*As of January 1, 2022, all figures are reported in US dollars.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">(1) Includes aircraft rental payments of $117 million and $126 million for
    the three months ended December 31, 2022, and 2021, respectively.</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a de
Aviaci&oacute;n, S.A.B. de C.V. and Subsidiaries</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Consolidated Statement of Cash Flows &#8211; Cash Flow
Data Summary*</P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">(All metrics are compared to 2021 unless otherwise
noted)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #A03394">
    <TD STYLE="vertical-align: bottom; width: 66%; border-top: #A030A0 1pt solid; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Unaudited<BR>
(In millions of U.S. dollars)</B></FONT></TD>
    <TD  STYLE="width: 17%; border-top: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Twelve months ended December 31, 2022</B></FONT></TD>
    <TD  STYLE="width: 17%; border-top: #A030A0 1pt solid; border-right: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white"><B>Twelve months ended December 31, 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net cash flow provided by operating activities</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">614</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">786</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net cash flow used in investing activities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(131)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(135)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net cash flow used in financing activities <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(513)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(435)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;(Decrease) increase in cash, cash equivalents and restricted cash</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(30)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>216</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net foreign exchange differences</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Cash, cash equivalents and restricted cash at beginning of year</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">741</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">506</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: #A030A0 1pt solid; border-left: #A030A0 1pt solid; background-color: #D8D8D8; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Cash, cash equivalents and restricted cash at end of year</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A030A0 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>712</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #A030A0 1pt solid; border-bottom: #A030A0 1pt solid; background-color: #D9D9D9; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>741</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">*As of January 1, 2022, all figures are reported in US dollars.</P>
    <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0">(1) Includes aircraft rental payments of $449 million and $459 million for
    the twelve months ended December 31, 2022, and 2021, respectively.</P></TD></TR>
  </TABLE>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
