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Description of the business and summary of material accounting policy information (Tables)

12 Months Ended

Dec. 31, 2023

Description of the business and summary of material accounting policy information

Schedule of companies included in the consolidated financial statements

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	% Equity interest			​
​	​	Principal	​	​	​	​	​	​	​
Name		Activities		Country		2023		2022
Concesionaria Vuela Compañía de Aviación S.A.P.I. de C.V.		Air transportation services for passengers, cargo and mail throughout Mexico and abroad		Mexico		100	%	100	%
Vuela Aviación, S.A.		Air transportation services for passengers, cargo and mail in Costa Rica and abroad		Costa Rica		100	%	100	%
Vuela, S.A. (“Vuela”) (1)		Air transportation services for passengers, cargo and mail in Guatemala and abroad		Guatemala		100	%	100	%
Vuela El Salvador, S.A. de C.V.	​	Air transportation services for passengers, cargo and mail in El Salvador and abroad	​	El Salvador	​	100	%	100	%
Comercializadora Volaris, S.A. de C.V. ("Comercializadora")		Merchandising of services		Mexico		100	%	100	%
Servicios Earhart, S.A. (1)		Rendering specialized services to its affiliates		Guatemala		100	%	100	%
Servicios Corporativos Volaris, S.A. de C.V. (“Servicios Corporativos”)		Rendering specialized services to its affiliates		Mexico		100	%	100	%
Comercializadora V Frecuenta, S.A. de C.V. (“Loyalty Program”) (1)	​	Loyalty Program	​	Mexico	​	100	%	100	%
Viajes Vuela, S.A. de C.V. (“Viajes Vuela”)	​	Travel agency	​	Mexico	​	100	%	100	%
Guatemala Dispatch Service, S.A., (“GDS, S.A.”)	​	Aeronautical Technical Services	​	Guatemala	​	100	%	100	%
CIBanco, S.A., Institución de Banca Múltiple, Fidecomiso 1710 (2)	​	Pre-delivery payments financing (Note 5)	​	Mexico	​	—	​	100	%
CIBanco, S.A., Institución de Banca Múltiple, Fidecomiso 1711 (3)	​	Pre-delivery payments financing (Note 5)	​	Mexico	​	—	​	100	%
Fideicomiso Irrevocable de Administración número F/307750 “Administrative Trust” (4)		Share administration trust (Note 18)		Mexico		—	​	100	%
Fideicomiso Irrevocable de Administración número F/745291 “Administrative Trust”		Share administration trust (Note 18)		Mexico		100	%	100	%
Fideicomiso de Administración número CIB/3081 “Administrative Trust”	​	Share administration trust (Note 18)	​	Mexico	​	100	%	100	%
Fideicomiso Irrevocable de Administración número CIB/3249 “Administrative Trust”	​	Asset backed securities trustor & administrator (Note 5)	​	Mexico	​	100	%	100	%
CIBanco, S.A., Institución de Banca Múltiple, Fideicomiso CIB/3853 (5)	​	Pre-delivery payments financing (Note 5)	​	Mexico	​	100	%	100	%
CIBanco, S.A., Institución de Banca Múltiple, Fideicomiso CIB/3855 (6)	​	Pre-delivery payments financing (Note 5)	​	Mexico	​	100	%	100	%
CIBanco, S.A., Institución de Banca Múltiple, Fideicomiso CIB/3866 (6)	​	Pre-delivery payments financing (Note 5)	​	Mexico	​	100	%	100	%
CIBanco, S.A., Institución de Banca Múltiple, Fideicomiso CIB/3867 (7)	​	Pre-delivery payments financing (Note 5)	​	Mexico	​	100	%	100	%
CIBanco, S. A, Institución de Banca Múltiple, Fideicomiso CIB/3921 (8)	​	Pre-delivery payments financing (Note 5)	​	Mexico	​	100	%	100	%

(1) The Company has not started operations.

(2) With effect from January 20, 2023, the Trust 1710 was extinguished.

(3) With effect from January 20, 2023, the Trust 1711 was extinguished.

(4) The Trust was terminated on August 9, 2022.

(5) With effect from June 8, 2022 the trust was constituted.

(6) With effect from April 1st, 2022 the trusts were constituted.

(7) With effect from April 13, 2022 the trust was constituted.

(8) With effect from July 21, 2022 the trust was constituted.

Schedule of depreciation rates

​

​	​	​
​		Annual
​		depreciation rate
Flight equipment	​	4.0-16.7%
Constructions and improvements		Remaining contractual lease term
Computer equipment		25%
Workshop tools		33.3%
Electric power equipment		10%
Communications equipment		10%
Workshop machinery and equipment		10%
Motorized transport equipment platform	​	25%
Service carts on board		20%
Office furniture and equipment		10%
Leasehold improvements to flight equipment		The shorter of: (i) remaining contractual lease term, or (ii) the next major maintenance event (1)

⁽¹⁾ The period is determined in accordance with usage.

Schedule of most relevant exchange rates utilized in the conversions to USD dollar

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2023

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2022

​

2021

​

​

End of period

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Average

​

End of period

​

Average

​

End of period

​

Average

Currency

exchange rate

exchange rate

exchange rate

exchange rate

exchange rate

exchange rate

Mexican Peso

Ps.

16.8935

​

Ps.

17.7665

​

Ps.

19.3615

​

Ps.

20.1254

​

Ps.

20.5835

Ps.

20.2818

Colon

₵.

524.7900

​

₵.

545.1760

​

₵.

594.9700

​

₵.

649.5908

​

₵.

645.900

₵.

624.3460

Quetzal

​

Q.

7.8301

​

Q.

7.8428

​

Q.

7.8515

​

Q.

7.7765

​

Q.

7.7285

​

Q.

7.7589

Colombian Peso

​

COP.

3,822.05

​

COP.

4,327.66

​

COP.

4,810.20

​

COP.

4,255.44

​

COP.

3,981.16

​

COP.

3,751.33

Schedule of exchange rates of local currencies translated to functional currencies

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2023

​

2022

​

2021

​

​

End of period

​

Average

​

End of period

​

Average

​

End of period

​

Average

Currency

exchange rate

exchange rate

exchange rate

exchange rate

exchange rate

exchange rate

Mexican Peso

Ps.

16.8935

​

Ps.

17.7665

​

Ps.

19.3615

​

Ps.

20.1254

​

Ps.

20.5835

Ps.

20.2818

Colon

₵.

524.7900

​

₵.

545.1760

​

₵.

594.9700

​

₵.

649.5908

​

₵.

645.900

₵.

624.3460

Quetzal

​

Q.

7.8301

​

Q.

7.8428

​

Q.

7.8515

​

Q.

7.7765

​

Q.

7.7285

​

Q.

7.7589

Colombian Peso

​

COP.

3,822.05

​

COP.

4,327.66

​

COP.

4,810.20

​

COP.

4,255.44

​

COP.

3,981.16

​

COP.

3,751.33

Summary of estimated useful lives of the assets

​

​	​	​	​
Aircraft		up to 18	years
Spare engines		up to 18	years
Buildings leases		one to ten	years
Maintenance component		up to eight	years

X

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