<SEC-DOCUMENT>0001292814-24-000547.txt : 20240226
<SEC-HEADER>0001292814-24-000547.hdr.sgml : 20240226
<ACCEPTANCE-DATETIME>20240226173105
ACCESSION NUMBER:		0001292814-24-000547
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240226
DATE AS OF CHANGE:		20240226

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]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36059
		FILM NUMBER:		24680376

	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>vlrs4q23_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0pt"></P>

<P STYLE="font: 12pt/3pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: black">&nbsp;</P>

<P STYLE="font: 12pt/0.75pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: black">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 6-K</B></P>

<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: center"><B>REPORT&nbsp;OF FOREIGN PRIVATE ISSUER</B></P>

<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: center"><B>Pursuant to Rule 13a-16 or 15d-16 of the</B></P>

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

<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: center"><B>For the month of February 2024</B></P>

<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: center"><B>Commission File Number: 001-36059</B></P>

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

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n,
S.A.B. de C.V.</B></P>

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

<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: center"><B>Av. Antonio Doval&iacute; Jaime No. 70, 13 Floor,
Tower B</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>United Mexican States, Mexico City 01210</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>+(52) 55-5261-6400</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;(Address of principal executive offices)</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; text-indent: 0.5in">Indicate by check mark whether
the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form
20-F&nbsp; &#9746;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F&nbsp; &#9744;</FONT></P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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):&nbsp;&nbsp; &#9744;</FONT></P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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):&nbsp;&nbsp; &#9744;</FONT></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: center">&nbsp;</P>

<P STYLE="font: 12pt/2.25pt Times New Roman, Times, Serif; margin: 8.5pt 0 0; text-align: center; background-color: black">&nbsp;</P>


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

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

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">On February 26, 2024, 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 2023: Net Income of $112 million&rdquo; A copy of this press release is attached to this
Form 6-K as Exhibit 99.1</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">&nbsp;&nbsp;</P>


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<P STYLE="font: 11pt/106% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>SIGNATURES</B></P>

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in; text-align: justify">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-bottom: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Controladora Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n, S.A.B. de C.V.</B><BR>
<BR></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: February 26, 2024</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Enrique J. Beltranena Mejicano </FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name:
    Enrique J. Beltranena Mejicano<BR>
    Title: Chief
    Executive Officer</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Jaime E. Pous Fern&aacute;ndez</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name: Jaime E. Pous Fern&aacute;ndez</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title: Chief Financial Officer</P></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-bottom: 8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 92%; padding-bottom: 8pt; line-height: 107%">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">
    <P STYLE="border-bottom: black 0.75pt solid; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center">Exhibit</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">
    <P STYLE="border-bottom: black 0.75pt solid; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">Description</P></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;<A HREF="ex99-1.htm">99.1</A></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-bottom: 10pt; font: 12pt Arial Unicode MS"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="ex99-1.htm">Press release dated February 26, 2024, titled &ldquo;Volaris Reports
Financial Results for the Fourth Quarter and Full Year 2023: Net Income of $112 million&rdquo;</A></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>



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

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<TYPE>EX-99.1
<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">AIR Control Tower</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Neil Glynn</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">BBVA</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: black">Pablo Abraham</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">Jos&eacute; Mar&iacute;a de las Rivas </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">Guilherme Mendes</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">Pablo Ricalde</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>
<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&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/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 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. 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 Mexican pesos.
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/115% Times New Roman, Times, Serif; margin: 0 0 10pt 0.5in">&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 underling for the Asset Backed 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"></P>

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    <!-- Field: /Page -->

<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, 2023,
the Company has 8 ISDAs in place with different financial institutions and no activity was registered during the fourth quarter 2023.</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 Backed 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 elaborates 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;&nbsp;&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: 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 2023, 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="font: 10pt Times New 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; background-color: white"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><B>List of accounting policies</B></FONT>&#9;</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"><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, 2023 (unaudited) and December 31, 2022 (audited) and the condensed consolidated statements of operations, comprehensive
income, for the three months period ended December 31, 2023 and 2022 (unaudited) and the years ended December 31, 2023 (unaudited) and
2022 (audited), changes in equity and cash flows for the years ended December 31, 2023 (unaudited) and 2022 (audited), have been prepared in accordance with International Accounting Standard (&ldquo;IAS&rdquo;) 34 <I>Interim Financial
Reporting</I> and using the same accounting policies as in preparing the annual financial statements, with the exceptions 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, 2022, and 2021 (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 Company 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 has provided comparative information for 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, 2023 (unaudited) and
December 31, 2022 (audited), for accounting purposes the companies included in the unaudited condensed consolidated interim financial
statements are as follows:</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">&nbsp;</P>

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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: 8pt"><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: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Principal</B></P>
    <P STYLE="font: 8pt 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: 8pt"><B>Country</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>% Equity interest</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2023</B></FONT></TD>
    <TD STYLE="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">December 31</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">2022</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 33%; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt; letter-spacing: -0.1pt">Concesionaria Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n S.A. P. I. de C.V.</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 37%; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Air transportation services for passengers, cargo and mail throughout Mexico and abroad </FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt; 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: 8pt">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: 8pt">Costa Rica</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt; letter-spacing: -0.1pt">Vuela, S.A. (&ldquo;Vuela&rdquo;) </FONT><FONT STYLE="font-size: 8pt"><SUP>(7)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Guatemala</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt; 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: 8pt">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: 8pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Servicios Earhart, S.A. <SUP>(7)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Guatemala</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 33%; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Servicios Corporativos Volaris, S.A. de C.V. <BR>
&nbsp;(&ldquo;Servicios Corporativos&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 37%; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Rendering specialized services to its affiliates</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Comercializadora V Frecuenta, S.A. de C.V. <BR>
&nbsp;(&ldquo;Loyalty Program&rdquo;) <SUP>(7)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Loyalty Program</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Travel agency</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Guatemala Dispatch Service, S.A., (&ldquo;GDS, S.A.&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Guatemala </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso 1710 <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso 1711 <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero F/307750 &ldquo;Administrative Trust&rdquo; <SUP>(8)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; 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>100%</B></P></TD>
    <TD STYLE="vertical-align: bottom; 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">100%</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Asset backed securities trustor and administrator </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3853 <SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3855 <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3866 <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3867 <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S. A, Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3921 <SUP>(6)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  </TABLE>
<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 January 20, 2023, the Trust 1710 was extinguished.</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 January 20, 2023, the Trust 1711 was extinguished.</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 June 8, 2022, the trust was constituted.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(4)</TD><TD>With effect from April 1st, 2022, the trusts were constituted.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt">(5)</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">(6)</TD><TD>With effect from July 21, 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: 13.5pt">(7)</TD><TD>The Companies have not started operations.</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: 13.5pt">(8)</TD><TD>The Trust was terminated on August 9, 2022.</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 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>

<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"></P>


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<P STYLE="font: 10pt Times New 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: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</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 revenue 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">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"><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 trip insurance, rental cars and advertising spaces
to third parties. These as well as cargo services 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>

<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>


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<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"><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">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">&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 to the customer.</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>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 COVID-19
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>

<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>c)</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: 10pt Times New 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
do not 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>

<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>d)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Short-term investments</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">Short-term investments consist of fixed-term bank
deposits with a maturity of more than three but less than twelve months. Management determines the appropriate classification of investments at the time of acquisition and evaluates any changes impact as of
the consolidated financial statements presentation date.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


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<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>e)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Financial instruments initial recognition and subsequent measurement</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">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">&nbsp;</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 fair value
through profit and losses (&ldquo;FVTPL&rdquo;), 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 other comprehensive income (&ldquo;OCI&rdquo;) 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">&nbsp;</P>


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<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>

<P STYLE="font: 10pt Times New 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"></P>


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<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>

<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>f)</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>

<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>g)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Inventories</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">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>

<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>h)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Intangible 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">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 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">&nbsp;</P>


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<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"><B>Software</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">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>

<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: 13.5pt"><FONT STYLE="font-size: 10pt"><B>i)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Assets held for sale</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Assets held for sale, 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 sell costs. Fair value less sell costs is derived from recent market transactions,
if available.</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>Guarantee deposits</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">Guarantee deposits primarily include 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">&nbsp;</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.</P>

<P STYLE="font: 10pt Times New 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 lease agreements
that entail an extension of the lease term, the maintenance deposits which had been recorded previously as variable lease payments can
be converted into recoverable deposits and presented as recoverable assets, at the modification 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">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>


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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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">&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>k)</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 utilization.</P>

<P STYLE="font: 10pt Times New 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 include preventive
maintenance tasks based on manufacturers recommendations, for example, component checks, monthly checks, airframe and systems checks,
periodic major maintenance and engine checks.</P>

<P STYLE="font: 10pt Times New 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 tasks, divided mainly into three general categories: (i) routine line 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 line 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 maintenance is performed as required. These type of maintenance events are normally performed by in-house
mechanics and are primarily completed at the main airports that the Company currently serves, supported by sub-contracted companies.</P>

<P STYLE="font: 10pt Times New 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 maintenance activities are sub-contracted to
certified maintenance business partners, repair and overhaul organizations. Routine maintenance also includes scheduled tasks that can
typically take from 6 to 12 days to accomplish and are required between 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 for the aircraft consists of
a series of more complex tasks, including structural checks for the airframe, that can take up to six weeks to accomplish and typically
are required every 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 (Agencia Federal de Aviaci&oacute;n Civil- AFAC) mandate maintenance intervals and average
removal times as recommended 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 recommended 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; text-align: justify; margin-right: 0; margin-left: 0">(iii) The Company has a power-by-the
hour agreement for component services, which guarantees the availability of aircraft components for the Company&rsquo;s fleet when they
are required. It also provides aircraft components that are included in the redelivery conditions of the contract (hard time) with a fixed
priced 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; text-align: justify">The Company has an engine flight hour agreement (component
repair agreement), that guarantees a cost for the engines shop visits, provides miscellaneous engines coverage, supports the cost of foreign
objects damage events, ensures there is protection from annual escalations, and grants credit for certain scrapped components. The cost
associated with the miscellaneous engines&rsquo; coverage is recorded monthly as incurred in the consolidated statements of operations.</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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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>

<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>l)</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 of spare engine parts (major components).</P>

<P STYLE="font: 10pt Times New 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; background-color: white"><B>Depreciation rates are as follows:</B></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</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">&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>m)</B></TD><TD STYLE="text-align: justify"><B>Foreign currency transactions and exchange differences</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&rsquo;s consolidated financial statements
are presented in U.S. dollars, which is the functional currency of the parent company and its main subsidiaries. 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 operations prepared
under IFRS and denominated in their respective local currencies different from its functional currency are remeasured 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>


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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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 14.2pt; text-align: justify"></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">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 remeasurement
into the respective functional currency are 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">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>

<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>n)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Liabilities and provisions</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">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>

<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>o)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Employee benefits</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>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; 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">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; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The latest actuarial computation was prepared as of
December 31, 2023. Remeasurement of the net defined benefit liability arising from actuarial 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">&nbsp;</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>

<P STYLE="font: 10pt Times New 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;.</P>

<P STYLE="font: 10pt Times New 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.</P>

<P STYLE="font: 10pt Times New 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 2022, 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 compensation
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 required service period.</P>


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    <!-- Field: /Page -->

<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 required 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>

<P STYLE="font: 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 required service period.
The total cost of this plan has been totally recognized during the required service 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">- 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 19, 2016, the Board of Directors of the
Company authorized an extension to the MIP for certain key employees, this plan was named MIP II. 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 required service 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"><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 &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. 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>

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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: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></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>p)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Leases</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 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>

<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: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Right-of-use assets</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">up 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">ii.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Lease Liabilities</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">As of December 31, 2023, and 2022, there were no impairment
charges recorded in respect of the 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">iii.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Sale and leaseback</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 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 Consolidated 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"></P>


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<P STYLE="font: 10pt Times New 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.
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: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In cases of sale and leaseback transactions, if the
transfer of the asset to the lessor does not qualify as a sale, then the transaction is deemed a failed sale and is accounted for as a
financing transaction. For a sale to occur, control of the asset must be transferred to the lessor, and the lessor needs to obtain substantially
all the benefits of the asset&rsquo;s use. The company entered into eight sale and leaseback transactions for engines that qualified as
failed sale and leaseback transactions because the company has the option to purchase the engines at the end of the lease term. The asset
has been included in property, plant, and equipment, and depreciation is calculated based on the financing term.</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>Return obligations</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 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>r)</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>s)</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>


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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>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. 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>

<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"><FONT STYLE="letter-spacing: 0.1pt">&nbsp;</FONT></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:</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>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify"></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">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 continually assess whether
the interpretation has 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 has
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. As of December 31, 2023, and 2022 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>t)</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>

<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. During the years
ended December 31, 2023, and 2022, 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 <FONT STYLE="font-size: 10pt">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.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


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<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>u)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Financial instruments &ndash; Disclosures</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">&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>

<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>v)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Treasury shares</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 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>

<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>w)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Operating segments</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">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>

<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>x)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Current versus non-current classification</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 presents assets and liabilities in the
consolidated statement of financial position based on current/non-current classification. 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 non-current assets and liabilities.</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: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></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"></P>

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<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"><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">&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, 2023, and 2022</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Description of the business and summary of material
accounting policy information</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">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 infrastructure, Communications and Transportation Ministry (<I>Secretar&iacute;a de Infrestructura
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 December&nbsp;11, 2020, the Company announced the
closing of an upsized primary follow-on equity offering in which the Company offered 134,000,000 of its Ordinary Participation Certificates
(Certificados de Participaci&oacute;n Ordinarios), 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 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 1st, 2016.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


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<P STYLE="font: 10pt Times New 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: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">On June 20, 2019, Concesionaria,
issued fifteen million (15,000,000) asset backed trust notes (Certificados Burs&aacute;tiles Fiduciarios; the &ldquo;Trust Notes&rdquo;),
under the ticker symbol VOLARCB 19 for the amount of Ps.1.5 billion Mexican pesos (US$78.5 million, based on an exchange rate of Ps.19.10
to US$1 on June 20, 2019) 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 (US$157.1 million, based on an exchange
rate of Ps.19.10 to US$1 on June 20, 2019). 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.</FONT>&nbsp;</P>

<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">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 (US$72.1 million, based on an exchange
rate of Ps.20.80 to US$1 on October 13, 2021), 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) (US$144.2
million, based on an exchange rate of Ps.20.80 to US$1 on October 13, 2021). 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. The Trust Notes have a maturity of five years and will pay an interest rate of TIIE 28 plus 200 basis points and an adjustment
of twenty-five (25) basis points starting on September 20th, 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 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 26, 2024, and 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: 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></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Conversion from Series &ldquo;B&rdquo; shares to
Series &ldquo;A&rdquo; shares</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">On November 22, 2023, the holders of all of the 57,513,873
outstanding Series B shares of the Company concluded the conversion of all Series B Shares into 57,513,873 Series A Shares represented
by Ordinary Participation Certificates (Certificados de Participaci&oacute;n Ordinarios) in the form of the corresponding American Depositary
Shares.</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"><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, 2023 (unaudited) and December
31, 2022 (audited) and the condensed consolidated statements of operations, comprehensive income, for the three and twelve months period
ended December 31, 2023 and 2022 (unaudited), changes in equity and cash flows for the twelve months period ended December 31, 2023 and
2022 (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 as in preparing the annual financial statements, with the exceptions 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, 2022, and 2021 (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 Company 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 has provided comparative information for 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, 2023 (unaudited) and
December 31, 2022 (audited), for accounting purposes the companies included in the unaudited condensed consolidated interim financial
statements are as follows:</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">&nbsp;</P>

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    <!-- Field: /Page -->

<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: 8pt"><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: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Principal</B></P>
    <P STYLE="font: 8pt 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: 8pt"><B>Country</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>% Equity interest</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2023</B></FONT></TD>
    <TD STYLE="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">December 31</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">2022</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 33%; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt; letter-spacing: -0.1pt">Concesionaria Vuela Compa&ntilde;&iacute;a de Aviaci&oacute;n S.A. P. I. de C.V.</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 37%; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Air transportation services for passengers, cargo and mail throughout Mexico and abroad </FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt; 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: 8pt">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: 8pt">Costa Rica</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt; letter-spacing: -0.1pt">Vuela, S.A. (&ldquo;Vuela&rdquo;) </FONT><FONT STYLE="font-size: 8pt"><SUP>(7)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Guatemala</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt; 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: 8pt">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: 8pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 33%; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Comercializadora Volaris, S.A. de C.V. (&ldquo;Comercializadora&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 37%; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Merchandising of services </FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Servicios Earhart, S.A. <SUP>(7)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Guatemala</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Comercializadora V Frecuenta, S.A. de C.V. <BR>
&nbsp;(&ldquo;Loyalty Program&rdquo;) <SUP>(7)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Loyalty Program</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Travel agency</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Guatemala Dispatch Service, S.A., (&ldquo;GDS, S.A.&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Guatemala </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso 1710 <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso 1711 <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Fideicomiso Irrevocable de Administraci&oacute;n n&uacute;mero F/307750 &ldquo;Administrative Trust&rdquo; <SUP>(8)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; 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>100%</B></P></TD>
    <TD STYLE="vertical-align: bottom; 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">100%</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Asset backed securities trustor and administrator </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3853 <SUP>(3)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3855 <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3866 <SUP>(4)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S.A., Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3867 <SUP>(5)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.7pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">CIBanco, S. A, Instituci&oacute;n de Banca M&uacute;ltiple, Fideicomiso CIB/3921 <SUP>(6)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 8.55pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">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: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><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: 8pt">100%</FONT></TD></TR>
  </TABLE>
<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 January 20, 2023, the Trust 1710 was extinguished.</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 January 20, 2023, the Trust 1711 was extinguished.</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 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">(4)</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">(5)</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">(6)</TD><TD>With effect from July 21, 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: 13.5pt">(7)</TD><TD>The Companies have not started operations.</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: 13.5pt">(8)</TD><TD>The Trust was terminated on August 9, 2022.</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 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>

<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>


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<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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt"><B>Impact of new
International Financial Reporting Standards</B></FONT></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: 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 accounting policies adopted in the preparation
of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Company&acute;s
annual consolidated financial statements for the year ended 31 December 2022, except for the adoption of new standards effective as of
1 January 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">The Company has not early adopted any standard, interpretation
or amendment that has been issued but is not yet effective. Several amendments apply for the first time in 2023, but do not have an impact
on the 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">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>IFRS 17 Insurance Contracts</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 2017, the IASB issued IFRS 17 Insurance Contracts,
a comprehensive new accounting standard for insurance contracts covering recognition and measurement, presentation and disclosure. IFRS
17 replaces IFRS 4 Insurance Contracts that was issued in 2005. IFRS 17 applies to all types of insurance contracts (i.e., life, non-life,
direct insurance and reinsurance), regardless of the type of entities that issue them, as well as to certain guarantees and financial
instruments with discretionary participation features; a few scope exceptions will apply. The overall objective of IFRS 17 is to provide
an accounting model for insurance contracts that is more useful and consistent for insurers. In contrast to the requirements in IFRS 4,
which are largely based on grandfathering previous local accounting policies, IFRS 17 provides a comprehensive model for insurance contracts,
covering all relevant accounting aspects. IFRS 17 is based on a general model, supplemented by:</P>

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

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="margin: 0; text-align: justify; font-size: 10pt">A specific adaptation for contracts with direct participation features (the
variable fee approach).</LI>

<LI STYLE="margin: 0; text-align: justify; font-size: 10pt">A simplified approach (the premium allocation approach) mainly for short-duration
contracts.</LI>

</UL>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">IFRS 17 is effective for reporting periods beginning
on or after 1 January 2023, with comparative figures required. Early application is permitted, provided the entity also applies IFRS 9
and IFRS 15 on or before the date it first applies IFRS 17.</P>

<P STYLE="font: 10pt Times New 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 January 1, 2023, and December 31, 2023, this
standard 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>&nbsp;</B></P>


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<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"><B>Amendments to IAS 1: Classification of Liabilities
as Current or Non-current</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 January 2020, the IASB issued amendments to paragraphs
69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarify:</P>

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

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in; font-size: 10pt">What is meant by a right to defer settlement.</LI>

<LI STYLE="margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in; font-size: 10pt">That a right to defer must exist at the end
of the reporting period.</LI>

<LI STYLE="margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in; font-size: 10pt">That classification is unaffected by the likelihood
that an entity will exercise its deferral right.</LI>

<LI STYLE="margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in; font-size: 10pt">That only if an embedded derivative in a convertible
liability is itself an equity instrument would the terms of a liability not impact its classification.</LI>

</UL>

<P STYLE="font: 10pt Times New 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 amendments are effective for annual reporting
periods beginning on or after January 1st, 2023, and must be applied retrospectively.</P>

<P STYLE="font: 10pt Times New 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 January 1, and December 31, 2023, these amendments
did not have any 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>Disclosure of Accounting Policies - Amendments
to IAS 1 and IFRS Practice Statement 2</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 February 2021, the IASB issued amendments to IAS
1 and IFRS Practice Statement 2 Making Materiality Judgements, in which it provides guidance and examples to help entities apply materiality
judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful
by replacing the requirement for entities to disclose their &lsquo;significant&rsquo; accounting policies with a requirement to disclose
their &lsquo;material&rsquo; accounting policies and adding guidance on how entities apply the concept of materiality in making decisions
about accounting policy disclosures.</P>

<P STYLE="font: 10pt Times New 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 amendments to IAS 1 are applicable for annual
periods beginning on or after January 1st, 2023, with earlier application permitted. Since the amendments to the Practice Statement 2
provide non-mandatory guidance on the application of the definition of material to accounting policy information, an effective date for
these amendments is not necessary.</P>

<P STYLE="font: 10pt Times New 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 adopted the amendments to IAS 1, although
the amendments to the standard did not result in any change in the accounting policies disclosed in the 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"><B>Definition of Accounting Estimates &ndash; Amendments
to IAS 8</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 February 2021, the IASB issued amendments to IAS
8, in which it introduces a definition of &ldquo;accounting estimates&rdquo;. The amendments clarify the distinction between changes in
accounting estimates and changes in accounting policies and the correction of errors. Also, they clarify how entities use measurement
techniques and inputs to develop accounting estimates.</P>

<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">The amendments are effective for annual reporting
periods beginning on or after January 1st, 2023, and apply to changes in accounting policies and changes in accounting estimates that
occur on or after the start of that period. Earlier application is permitted as long as this fact is disclosed.</P>

<P STYLE="font: 10pt Times New 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 January 1, and December 31, 2023, 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>Deferred Tax related to Assets and Liabilities
arising from a Single Transaction &ndash; Amendments to IAS 12</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 amendments to IAS 12 Income Taxes require companies
to recognize deferred tax on transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary
differences. They will typically apply to transactions such as leases of lessees and decommissioning obligations and will require the
recognition of additional deferred tax assets and liabilities. The amendment is effective for annual reporting periods beginning on January
1st, 2023, and should be applied to transactions that occur on or after the beginning of the earliest comparative period presented. In
addition, entities should recognize deferred tax assets (to the extent that it is probable that they can be utilized) and deferred tax
liabilities at the beginning of the earliest comparative period for all deductible and taxable temporary differences associated with:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&bull; Right-of-use assets and lease liabilities,
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&bull; Decommissioning, restoration and similar liabilities,
and the corresponding amounts recognized as part of the cost of the related assets.</P>

<P STYLE="font: 10pt Times New 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 cumulative effect of recognizing these adjustments
is recognized in retained earnings, or another component of equity, as appropriate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">IAS 12 did not previously address how to account for
the tax effects of on-balance sheet leases and similar transactions and various approaches were considered acceptable.</P>

<P STYLE="font: 10pt Times New 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 date of adoption of IFRS 16, the Company applied
the criterion of recognizing the deferred assets and liabilities associated with the lease liability and the right of use, which is consistent
with this amendment to IAS 12, and therefore upon adoption this amendment did not generate effect in 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"><FONT STYLE="letter-spacing: 0.1pt"><B>Use of judgments,
estimates and assumptions</B></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 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>

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

<P STYLE="font: 10pt Times New 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 instruments and risk management</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>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>


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    <!-- Field: /Page -->

<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"><B>&nbsp;</B></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">a)</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; text-align: justify; margin-right: 0; margin-left: 0">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, 2023 and 2022 represented 38% and 45% of the Company&rsquo;s operating
expenses, respectively. Additionally, aircraft jet fuel consumed in the twelve months ended December 31, 2023, and 2022 represented 38%
and 46% 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">For the three months period ended December
31, 2023, and 2022, the Company did not enter into derivative financial instruments to hedge jet fuel.</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 asset (Jet Fuel) 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>

<P STYLE="font: 10pt Times New 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.</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>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, this is due to a significant portion of its operating expenses are denominated in U.S. dollar;
thus, the Company relies on sustained U.S. dollar cash flows coming from operations in Mexico, the United States of America, Central
America and South America to comply 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>


<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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 summary of quantitative data about the Company&rsquo;s
exposure to currency risk As of December 31, 2023, is as set forth below:</P>

<P STYLE="font: 8pt 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: 48%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; 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: 7%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 19%; 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></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 COLSPAN="4" STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>(In thousands of U.S. dollars)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>100,488</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>13,287</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>54,594</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>34,650</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>29,951</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>514</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Derivative Financial instruments</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,683</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total assets</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"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>186,716</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></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"><B>48,451</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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: 1.4pt; text-align: right">&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: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&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: 1.4pt; 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">
    <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; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>186,251</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>19,655</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>73</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>142,453</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,254</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>57,283</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,958</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total liabilities</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>US$</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>405,642</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</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>5,285</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Net foreign currency position</FONT></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>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(218,926)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></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>43,166</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 foreign exchange exposure includes: 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 26, 2024,
date of issuance of these unaudited condensed consolidated financial statements, the exchange rate was Ps.17.1210</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 summary of quantitative data about the Company&rsquo;s
exposure to currency risk 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>

<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: 50%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 21%; 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">Mexican Pesos </FONT></TD>
    <TD STYLE="width: 7%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; 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">Others*</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 COLSPAN="4" STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">(In thousands of U.S. dollars)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">39,962</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">6,129</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">66,254</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">12,595</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">23,981</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">252</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Derivative Financial instruments</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,585</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total assets</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">US$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">131,782</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</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">18,976</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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: 1.4pt; text-align: right">&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: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&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: 1.4pt; 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">
    <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; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">133,837</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">17,003</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">103</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">124,374</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,496</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">81,378</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,277</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total liabilities</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">US$</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">356,592</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</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">2,876</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Net foreign currency position</FONT></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">US$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(224,810)</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></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">16,100</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 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, 2023,
and 2022, 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>

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


<!-- Field: Page; Sequence: 30 -->
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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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"></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>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 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 interest bearing contractual agreements indexed
to 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">In November 2020 the ICE Benchmark Administration
(&ldquo;IBA&rdquo;), the FCA-regulated and authorized administrator of LIBOR, announced that it had started to consult on its intention
to cease the publication of certain rate USD LIBORs after June 2023. In early 2022 as announced by the FCA, the panel bank submissions
for rate USD LIBOR will cease in mid-2023. As of December 31, 2022, and 2023, all our US dollar financing facilities at floating rate
are referenced to SOFR. All credits signed during 2022 are referenced to SOFR.</P>

<P STYLE="font: 10pt Times New 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.&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">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">In July 2019 the Irrevocable Trust number CIB/3249,
whose trustor is the Company, entered into 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.</P>

<P STYLE="font: 10pt Times New 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 stared on July 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. </P>

<P STYLE="font: 10pt Times New 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 stared on 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">In October 2023 the Trust entered into a cap
to mitigate the risk due to interest rate increases on the CEBUR (VOLARCB23) coupon payments. The floating rate coupons reference to TIIE
28 are limited under the cap to 13% on the reference rate for the life of the CEBUR (VOLARCB23) and have the same amortization schedule.
</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">The cap stared on October
20, 2023, and the maturity date is September 20, 2028; consisting of 59 &ldquo;caplets&rdquo; with the same specifications as the CEBUR
(VOLARCB23) coupons for reference rate determination, coupon term, and fair value.</P>


<!-- Field: Page; Sequence: 31 -->
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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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">As of December 31, 2023, and 2022, the Company&rsquo;s
outstanding hedging contracts in the form of interest rate caps with notional amount of US$187.4 million and US$116.2 million, respectively,
had fair values of US$1,683 and US$1,585, respectively, and are presented as part of the financial assets in the condensed consolidated
statement of financial 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 months period ended December 31,
2023, and 2022, the amortization of the intrinsic value of the cap was US$227 and US$73, respectively, recycled to the statement of operations
as part of the finance cost.</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>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 manages its cash, 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>

<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>

<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 COLSPAN="6" 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>December 31, 2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</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>Within one<BR>
year</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: center"><FONT STYLE="font-size: 8pt"><B>One to five<BR>
years</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: center"><FONT STYLE="font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 44%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Interest-bearing borrowings:</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 4.5pt"><FONT STYLE="font-size: 8pt">Pre-delivery payments facilities</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>157,318</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>151,322</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>308,640</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 4.5pt"><FONT STYLE="font-size: 8pt">Asset backed trust note (&ldquo;CEBUR&rdquo;)</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"><B>44,396</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"><FONT STYLE="font-size: 8pt"><B>143,054</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"><FONT STYLE="font-size: 8pt"><B>187,450</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 4.5pt"><FONT STYLE="font-size: 8pt">Other financial agreements</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"><B>12,157</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"><FONT STYLE="font-size: 8pt"><B>140,906</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"><FONT STYLE="font-size: 8pt"><B>153,063</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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: 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: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Lease 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: 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: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 4.5pt"><FONT STYLE="font-size: 8pt">Aircraft, engines, land and buildings leases</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"><B>372,697</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"><FONT STYLE="font-size: 8pt"><B>2,532,891</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"><FONT STYLE="font-size: 8pt"><B>2,905,588</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 4.5pt"><FONT STYLE="font-size: 8pt">Aircraft and engine lease return obligation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>803</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>286,405</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>287,208</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></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>587,371</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>3,254,578</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></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>3,841,949</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>

<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 COLSPAN="6" 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">December 31, 2022</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</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">Within one<BR>
year</FONT></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">One to five<BR>
years</FONT></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">Total</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 44%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Interest-bearing borrowings:</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 8pt">Pre-delivery payments facilities</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">62,209</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">75,698</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">137,907</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 8pt">Asset backed trust note (&ldquo;CEBUR&rdquo;)</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">30,128</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">86,082</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">116,210</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 8pt">Working Capital Facilities </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">18,077</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">-</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">18,077</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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: 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: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Lease 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: 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: 1.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 8pt">Aircraft, engines, land and buildings leases</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">335,620</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">2,373,103</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">2,708,723</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 8pt">Aircraft and engine lease return obligation</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">5,012</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">244,454</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">249,466</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></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">451,046</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2,779,337</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></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">3,230,383</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"><B>e)</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"></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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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">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 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: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The credit risk on liquid funds and derivative financial instruments is
limited because the counterparties have an high credit rating assigned by international credit-rating agencies.</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">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>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">As of December 31, 2023, the Company determined that its credit risk associated
with outstanding derivative financial instruments is low, as it exclusively engages in such instruments with counterparties that have
high credit ratings assigned by international credit-rating agencies.</FONT></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>f)</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 2023 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, 2023, and 2022. 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: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New 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>Fair value measurements</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 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>


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    <!-- 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">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>

<P STYLE="font: 10pt Times New 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, 2023</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">December 31, 2022</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, 2023</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">December 31, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 28%; 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: 5%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 12%; 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: 5%; 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: 5%; 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: 5%; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 12%; 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">
    <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$</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,683</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">1,585</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$</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,683</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">1,585</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.7pt">&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>
    <TD STYLE="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">
    <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">
    <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>(649,153)</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">(272,194)</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>(670,319)</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">(282,868)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(647,470)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</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">(270,609)</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$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(668,636)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 0.7pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</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">(281,283)</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
by hierarchy at December 31, 2023:</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">
    <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">
    <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">
    <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">
    <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>1,683</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>1,683</B></FONT></TD></TR>

<TR STYLE="vertical-align: bottom">
    <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%; 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">
    <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">
    <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>(670,319)</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>(670,319)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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>(668,636)</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>(668,636)</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">* 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.</P>
<!-- Field: Page; Sequence: 34 -->
    <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 -->34<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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 following table summarizes the fair value measurements
by hierarchy 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">Fair value measurement</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">Quoted prices</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">in active</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">markets</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">Level 1</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">Significant</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">observable</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">inputs</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">Level 2</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">Significant unobservable</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">inputs</P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">Level 3</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">Total</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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%; 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">
    <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">
    <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">
    <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">1,585</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">1,585</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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">
    <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">
    <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">(282,868)</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">(282,868)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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">(281,283)</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">(281,283)</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">* 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 period ended December
31, 2023, and 2022:&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>

<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 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 COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>2023</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">2022</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 39%"><FONT STYLE="font-size: 8pt">Interest rate cap</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 26%; text-align: center"><FONT STYLE="font-size: 8pt">Finance cost</FONT></TD>
    <TD STYLE="width: 5%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>(227)</B></FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(73)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>(227)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-bottom: 0.2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(73)</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 loss from derivatives
financial instruments recognized in the unaudited condensed consolidated statements of operations for the twelve months period ended December
31, 2023, and 2022:&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>

<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 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>
    <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 COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>2023</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">2022</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 8pt">Interest rate cap</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 27%; text-align: center"><FONT STYLE="font-size: 8pt">Finance cost</FONT></TD>
    <TD STYLE="width: 5%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>(579)</B></FONT></TD>
    <TD STYLE="width: 3%; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(161)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>(579)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding-bottom: 0.2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(161)</FONT></TD></TR>
  </TABLE>
<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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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 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 period
ended December 31, 2023, and 2022:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>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 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-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <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="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Instrument</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Financial statements line</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Interest rate cap</FONT></TD>
    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">OCI</FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(1,446)</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-right: -1.1pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(59)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Total </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(1,446)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: -1.1pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(59)</FONT></TD></TR>
  </TABLE>
<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">The following table summarizes the netgain on CFH
before taxes recognized in the unaudited condensed consolidated statements of other comprehensive income for the twelve months period
ended December 31, 2023, and 2022:</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 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-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <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; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Instrument</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Financial statements line</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Interest rate cap</FONT></TD>
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">OCI</FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(1,175)</B></FONT></TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; padding-right: -2.75pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">336</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Total </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(1,175)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: -2.75pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">336</FONT></TD></TR>
  </TABLE>
<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>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Financial assets and liabilities</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 of December 31, 2023, and 2022, the Company&rsquo;s
financial assets measured at amortized cost are represented by cash, cash equivalents and restricted cash, short-term investments, trade
and other accounts receivable, for which their carrying amount is a reasonable approximation of 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: 9pt 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: 59%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2023</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 7%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">December 31, 2022</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>Derivative financial instruments designated as cash flow hedges (effective portion recognized within OCI)</B></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>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Interest rate cap</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,683</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,585</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>Total derivative financial assets</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>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,683</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,585</FONT></TD></TR>
  <TR>
    <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: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>Presented on the consolidated statements of </B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>financial position as follows:</B>&#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: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">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$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">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$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,683</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1,585</FONT></TD></TR>
  </TABLE>
<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>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>

<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: 4.5pt"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">As of December 31, 2023, and 2022, the Company&rsquo;s short-term and long-term
debt consists of the following:</FONT></TD></TR></TABLE>

<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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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>
    <TD STYLE="vertical-align: top; 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">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; 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>2023</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; 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>
2022</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 7%; 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: 63%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 105%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt; line-height: 105%">In
June 2019 the Company issued in the Mexican Market, an Asset backed trust notes (&ldquo;CEBUR&rdquo;), in Mexican pesos, with maturity
date on June 20th, 2024, bearing annual interest rate of TIIE plus 175 basis points.&nbsp;</FONT></P></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>US$ </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>14,799</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">38,737</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD></TR>

<TR>
    <TD STYLE="vertical-align: top; width: 7%; 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; width: 63%; 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 Mexican Market a second tranche
of its Asset backed trust notes (&ldquo;CEBUR&rdquo;), in Mexican pesos, with maturity date on October 20th, 2026, bearing annual interest
rate of TIIE plus 200 basis points, plus 25 basis points*.</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>83,859</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">77,473</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <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; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">In September 2023 the Company issued in the Mexican Market a third tranche
of its Asset backed trust notes (&ldquo;CEBUR&rdquo;), in Mexican pesos, with maturity date on September 20th, 2028, bearing annual interest
rate of TIIE plus 215 basis points.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>88,792</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 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>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <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; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">Revolving credit line with Banco Santander, S.A., (&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 of SOFR plus a spread of 298 basis points, plus 5 basis points*.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>57,855</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 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%">38,635</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <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; 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 date on November 30, 2025, bearing annual interest SOFR plus a spread of 300 basis points, along with a SOFR adjustment.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>35,983</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 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%">27,962</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <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; 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 date on November 30, 2025, bearing annual interest of SOFR plus a spread of 425 basis points, along with a SOFR adjustment.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>64,495</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 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%">15,880</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <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; 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 date on May 31, 2025, bearing annual interest of SOFR plus a spread of 390 basis points.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>107,178</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 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%">48,048</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <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; 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 date on May 31, 2026, bearing annual interest of SOFR plus a spread of 200 basis points, along with a SOFR adjustment.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>43,129</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 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%">7,382</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <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; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">The
    company acquired a working capital facility with Banco Sabadell S.A, Instituci&oacute;n de banca multiple (&ldquo;Sabadell&rdquo;)
    with national currency, bearing annual interest rate of TIIE plus 240 basis points. </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>-</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 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%">10,330</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&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; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <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; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">The company acquired a working capital facility with Banco Actinver S.A, Instituci&oacute;n de banca multiple (&ldquo;Actinver&rdquo;) in Mexican pesos, bearing annual interest rate at TIIE plus 250 basis points.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>-</B></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; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">7,747</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&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; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">XI.</FONT></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%">Financing
    for the acquisition of engines with Tarquin Limited, with maturity in September 7, 19 and 25 of 2026, bearing an annual interest of
    6.20%.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>44,052</B></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; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&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; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">XII.</FONT></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%">Financing for the acquisition of engines with NBB-V11218 Lease Partnership, with maturity in September 29 of 2026, bearing an annual interest of 6.20%.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>8,821</B></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; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&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; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">XIII.</FONT></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%">Financing for the acquisition of engines with NBB-V11951 Lease Partnership, with maturity in September 29 of 2026, bearing an annual interest of 6.20%.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>8,143</B></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; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&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; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">XIV.</FONT></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%">Financing for the acquisition of several engines with Wilmington Trust SP Services (Dublin) Limited (not in its individual capacity but solely as Owner Trustee) for the acquisition of several engines, with maturity date in September and October 2026, bearing an annual interest of 7.16%.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>71,507</B></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; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">-</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&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; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">XV.</FONT></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%">Financing
    for the acquisition of engines with NBB Pintail Co., LTD, with maturity date on November 28 of 2026, bearing an annual interest
    of 6.99%.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>20,540</B></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; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&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; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">XVI.</FONT></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%">Transaction costs to be amortized.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD 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>(3,158)</B></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; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">(1,034)</FONT></TD></TR>
  <TR>
    <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%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">XVII.</FONT></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%">Accrued interest and other financial cost.</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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>7,070</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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%">1,875</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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>653,065</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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%">273,035</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&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%">Less: Short-term maturities</FONT></TD>
    <TD 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>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>220,289</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">US$</FONT></TD>
    <TD 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%">112,148</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&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%">Long-term financial debt</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>432,776</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">160,887</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">SOFR: Secured Overnight Financing Rate</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">*Sustainability bond adjustment</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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"></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
remaining principal payments of financial debt and accrued interest on December 31, 2023:</P>

<P STYLE="font: 9pt 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; border-bottom: Black 1pt solid; 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 2025-</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 2025</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; 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 2026-</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 2026&nbsp;</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; 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 2027-onwards </B></P></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; 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>
    <TD STYLE="vertical-align: bottom; width: 37%; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Santander/Bancomext</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"><B>US$</B></FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt"><B>43,675</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom; width: 4%"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt"><B>14,947</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom; width: 3%"><FONT STYLE="font-size: 8pt"><B>&nbsp;US$</B></FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom; width: 3%"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 3%; text-align: left"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 8pt"><B>58,622 </B></FONT></TD></TR>
  <TR>
    <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="text-align: right"><FONT STYLE="font-size: 8pt"><B>45,180</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>29,597</B></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"><FONT STYLE="font-size: 8pt"><B>35,763</B></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"><FONT STYLE="font-size: 8pt"><B>77,693</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>188,233 </B></FONT></TD></TR>
  <TR>
    <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="text-align: right"><FONT STYLE="font-size: 8pt"><B>15,130</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>20,852</B></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"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></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"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>35,982 </B></FONT></TD></TR>
  <TR>
    <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="text-align: right"><FONT STYLE="font-size: 8pt"><B>30,654</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>38,588</B></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"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></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"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>69,242 </B></FONT></TD></TR>
  <TR>
    <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="text-align: right"><FONT STYLE="font-size: 8pt"><B>73,373</B></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"><FONT STYLE="font-size: 8pt"><B>33,806</B></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"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></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"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>107,179 </B></FONT></TD></TR>
  <TR>
    <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="text-align: right"><FONT STYLE="font-size: 8pt"><B>495</B></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"><FONT STYLE="font-size: 8pt"><B>43,129</B></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"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></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"><FONT STYLE="font-size: 8pt"><B>-&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>43,624 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Tarquin 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="text-align: right"><FONT STYLE="font-size: 8pt"><B>2,326</B></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"><FONT STYLE="font-size: 8pt"><B>2,384</B></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"><FONT STYLE="font-size: 8pt"><B>2,536</B></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"><FONT STYLE="font-size: 8pt"><B>36,892</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>44,138 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Lease Partnership NBB-V11218</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"><FONT STYLE="font-size: 8pt"><B>758</B></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"><FONT STYLE="font-size: 8pt"><B>772</B></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"><FONT STYLE="font-size: 8pt"><B>822</B></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"><FONT STYLE="font-size: 8pt"><B>6,501</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>8,853 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Lease Partnership NBB-V11951</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"><FONT STYLE="font-size: 8pt"><B>695</B></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"><FONT STYLE="font-size: 8pt"><B>712</B></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"><FONT STYLE="font-size: 8pt"><B>758</B></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"><FONT STYLE="font-size: 8pt"><B>6,003</B></FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>8,168 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Wilmington Trust SP Services (Dublin) Limited</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>7,898</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0.6pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>8,373</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0.6pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>9,001</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt"><B>46,358</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"><B>71,630 </B></FONT></TD></TR>
    <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 8pt">NBB Pintail Co. LTD</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="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>757</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; 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"><FONT STYLE="font-size: 8pt"><B>799</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; 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"><FONT STYLE="font-size: 8pt"><B>857</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>18,139</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt"><B>20,552 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Total</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom; border-bottom: Black 2.25pt double"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>220,941</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>193,959</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>&nbsp;US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>49,737</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>191,586</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2.25pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>656,223</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;<FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 8, 2022, the Company entered into new pre-delivery payments financing agreements with Santander/Bancomext at an annual interest
rate of SOFR plus 298 basis points, for the acquisition of its aircraft through a revolving facility. For purposes of financing these
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. 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. A feature of this financing is that it will incur in additional five (5) basis points if the sustainability goals are not
met. On August 31, 2023, the interest rate increased by five (5) basis points, with the possibility of mitigating the additional rate
if the objectives are met in the upcoming 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">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">As of December 31, 2023, and 2022, the Company was in compliance with the covenants under the mentioned loan 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">The Company signed in April 2022 three new pre-delivery
payments financing with lessors for the acquisition of ircraft. For this purpose, a Mexican trust was created for each contract
(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
or restrictions.</P>

<P STYLE="font: 10pt Times New 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 July 022 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 or restrictions.</P>


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    <!-- 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">On June 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 (US$88.8 million, based on an exchange rate of Ps16.89 to US$1 on December 31, 2023) 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 (US$177.6 million,
based on an exchange rate of Ps.16.89 to US$1 on December 31, 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">The notes have a five-year maturity annual reduction
of Ps.250,000, Ps.500,000, Ps.500,000 and Ps.250,000 (US$14.8 million, US$29.4 million, US$29.4 million y US$14.8 million, based on an
exchange rate of Ps.16.89 to US$1 on December 31, 2023) in 2021, 2022, 2023 and 2024, respectively, with a floating one-month coupon rate
referenced to TIIE 28 plus 175 basis points spread. The notes started 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 (US$88.8 million, based on an exchange rate of Ps.16.89 to US$1 on December 31, 2023) 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 (US$177.6 million, based on an exchange rate of Ps.16.89 to US$1 on December 31, 2023). 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). Which 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 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; text-align: justify; margin-right: 0; margin-left: 0">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. On September 20, 2023, the interest rate increased by twenty-five (25) basis points, 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; text-align: justify; margin-right: 0; margin-left: 0">The notes have a five-year maturity
annual reduction of Ps.83,333, Ps.500,000, Ps.500,000 and Ps.416,667 (US$4.9 million, US$29.6 million, US$29.6 million y US$24.7 million,
based on an exchange rate of Ps.16.89 to US$1 on December 31, 2023) in 2023, 2024, 2025 and 2026, respectively, with a floating one-month
coupon rate referenced to TIIE 28 plus 200 basis points, and adjustment of twenty-five (25) basis points starting on September 20th, 2023.
The notes started amortizing at the end of the second year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">On September 28, 2023, the Mexican
National Banking and Securities Commission (Comisi&oacute;n Nacional Bancaria y de Valores) approved an increase amount of the actual
program of up to Ps.5.0 billion Mexican pesos (US$296 million, based on an exchange rate of Ps.16.89 to US$1 on December 31, 2023). With
this authorization, the Company, through its subsidiary Concesionaria issued in the Mexico market a third issuance of 15,000,000 asset
backed trust notes (&ldquo;CEBUR&rdquo;) under the ticket VOLARCB23 for Ps.1.5 billion through the Fideicomiso Irrevocable de Administraci&oacute;n
n&uacute;mero CIB/3249 created by Concesionaria.</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.187,500, Ps.750,000 and Ps.562,500 (US$11.1 million, US$44.4million and US$33.3 million, based on an exchange rate of Ps.16.89 to
US$1 on December 31, 2023) in 2026, 2027 and 2028, respectively, with a floating one-month coupon rate referenced to TIIE 28 plus 215
basis points spread. The notes will start amortizing at the end of the third year.</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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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 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 six 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 begun in July of 2021 for the first issuance, the second issuance begun in November
of 2023 and the third issuance will begin in October 2026. In addition, early amortization applies if:</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: 0.5in"><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" 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">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 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 its working capital facility with Banco Sabadell S.A., Instituci&oacute;n de Banca Multiple (&ldquo;Sabadell&rdquo;)
in Mexican pesos. The facility had maturity dated on December 31, 2023, with an annual interest rate of TIIE 28 days plus a 240-basis
points margin. As of December 2023, this credit line has expired.</P>

<P STYLE="font: 10pt Times New 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 signed a 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 250 basis points margins. As of December 31, 2023, the facility is not disbursed.</P>

<P STYLE="font: 10pt Times New 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;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"><B>Other financial agreements</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">1) In September 2023, the Company entered into financing agreements with Tarquin Limited for the acquisition of engines, bearing
an annual interest of 6.20%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2) In September 2023, the Company also entered into additional financing agreements with NBB-V11218 Lease Partnership and with NBB-V11951
Lease Partnership, for the acquisition of engines, bearing an annual interest of 6.20%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3) In September and October 2023, the Company entered into financing agreements
with Wilmington Trust SP Services (Dublin) Limited (not in its individual capacity but solely as Owner Trustee) for the acquisition of
engines, bearing an annual interest of 7.16%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">4) In November 2023, the Company entered into financing agreements with NBB
Pintail Co Ltd for the acquisition of engines, bearing an annual interest of 6.99%.</P>

<P STYLE="font: 10pt Times New 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>

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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: 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"><B>Cash, cash equivalents and restricted cash</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 of December 31, 2023, and 2022 this caption is
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 STYLE="vertical-align: top">
    <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">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2023</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2022</B></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 60%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 15%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">Cash in banks</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>117,764</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">77,224</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">Cash on hand</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>850</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">425</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">Short-term investments</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>642,604</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">627,331</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">Restricted funds held in trust related to debt service reserves</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>12,936</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">6,873</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 5.5pt"><FONT STYLE="font-size: 9pt"><B>Total cash, cash equivalents and restricted cash</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>774,154</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">711,853</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">As of December 31, 2023, and 2022, the Company recorded
a portion of advance ticket sales by an amount of US$12,936 and US$6,873, 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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Related parties</B></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">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,
2023, and 2022 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>

<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; text-align: center">&nbsp;</TD>
    <TD STYLE="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="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; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2023</B></FONT></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>December 31, 2022</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"><B>Terms</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 36%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Due from:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 8pt">Frontier Airlines Inc. (&ldquo;Frontier&rdquo;)</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Code - share</FONT></TD>
    <TD STYLE="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; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</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">2,155</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR>
    <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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Due to:</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: center">&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: 1.4pt; text-align: right">&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: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 4.5pt"><FONT STYLE="font-size: 8pt">Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (&ldquo;OMA&rdquo;)</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Airport Services</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>12,881</B></FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">13,579</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>8</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,918</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 4.5pt"><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 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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>313</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">191</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>620</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">815</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 4.5pt"><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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>105</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">22</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">30 days</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>15,845</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">14,610</FONT></TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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>

<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 period ended December 31, 2023, and 2022, 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;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Related party transactions</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"><B>Country of origin</B></FONT></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>2023</B></FONT></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>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 55%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Expenses:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 14%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Transactions with affiliates</FONT></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="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; 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">&nbsp;</TD>
    <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; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 9pt"><FONT STYLE="font-size: 8pt">Airport services</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>3,136</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3,251</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">MRO Commercial, S.A.</FONT></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="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Aircraft maintenance*</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <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; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,649</B></FONT></TD>
    <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; text-align: right"><FONT STYLE="font-size: 8pt">2,033</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Technical support</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&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></TR>
  <TR>
    <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">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Aircraft and engine maintenance</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>809</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">467</FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Professional fees</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>443</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">523</FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Professional fees</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(9)</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">34</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Servprot, S.A. de C.V.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Security services</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="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="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">56</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Aeromantenimiento, S.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Technical support</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="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="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">81</FONT></TD></TR>
  </TABLE>
<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">*Includes amounts as part of major maintenance.</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">c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">During the twelve months period ended December 31, 2023, and 2022, 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;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Related party transactions</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"><B>Country of origin</B></FONT></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>2023</B></FONT></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>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 55%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Revenues:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 14%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Transactions with affiliates </FONT></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="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Frontier Airlines Inc</FONT></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="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><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="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">5</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Expenses:</B></FONT></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="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Transactions with affiliates</FONT></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="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">MRO Commercial, S.A.</FONT></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="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Aircraft maintenance*</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>15,674</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">11,097</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Technical support</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>17</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&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></TR>
  <TR>
    <TD STYLE="vertical-align: top; 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; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Airport services</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>12,263</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">9,792</FONT></TD></TR>
  <TR>
    <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">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Aircraft and engine maintenance</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,895</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">914</FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Professional fees</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,175</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">923</FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">7Professional fees</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>225</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">196</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Servprot, S.A. de C.V.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Security services</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Mexico</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>115</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">207</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Aeromantenimiento, S.A.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Aircraft maintenance</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="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="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3,690</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 8pt">Technical support</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">El Salvador</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="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="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">170</FONT></TD></TR>
  </TABLE>
<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">*Includes amounts as part of major maintenance.</P>

<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">d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Frontier Airlines Inc. (&ldquo;Frontier&rdquo;)</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">Frontier is a related party because Brian H. Franke
and Andrew Broderick are members of the board of the Company and members of the board of directors of Frontier as well as managing directors
of Indigo Partners, the latest has investments in both Companies.</P>

<P STYLE="font: 10pt Times New 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 accounts receivable from
Frontier were US$2,155. Additionally, As of December 31, 2023, and 2022, the account payable was US$1,918 and US$2, respectively.</P>

<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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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 three months period ended December 31,
2023, and 2022, the Company did not have revenue transactions. During the twelve months period ended December 31, 2023, the Company did
not have revenue transactions. During the twelve months period ended December 31, 2022, the Company recognized revenue under this agreement
of US$5.</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">Servprot S.A. de C.V. (&ldquo;Servprot&rdquo;)</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 was a related party until June 13, 2023,
because Enrique Beltranena Mejicano, the Company&rsquo;s Chief Executive Officer and director was shareholder of such Company. Servprot
provides security services for Mr. Beltranena and his family. As of December 31, 2023, and 2022, 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,
2023, the Company did not have expensed transactions. During the three months period ended December 31, 2022, the Company expensed US$56,
for this concept. During the twelve months period ended December 31, 2023, and 2022 the Company expensed US$115 and US$207, 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">f)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Aeromantenimiento, S.A. (&ldquo;Aeroman&rdquo;)</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2023, and 2022, the Company did
not have outstanding balance due to Aeroman.</P>

<P STYLE="font: 10pt Times New 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, 2023, the
Company did not have expenses transaction. During the three- and twelve-months period ended December 31, 2022, the Company incurred expenses
in aircraft and technical support with Aeroman amounted to US$81 and US$3,860, 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, 2023, and 2022, the balances due
under the agreement with MRO were US$8 and US$1, 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 ended December 31,
2023, and 2022, the Company incurred expenses in aircraft maintenance and technical support with MRO amounted to US$2,655 and US$2,033,
respectively. During the twelve months period ended December 31, 2023, and 2022, the Company incurred expenses in aircraft maintenance
and technical support with MRO amounted to US$15,691 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">g)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Mijares, Angoitia, Cort&eacute;s y Fuentes, S.C. (&ldquo;MACF&rdquo;)</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">MACF 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, 2023, and 2022 the balances due under the agreement with MACF was
US$105 and US$22, 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,
2023, and 2022, the Company recognize expenses in legal services under this agreement amounted to US$(9) and US$34, respectively. During
the twelve months period ended December 31, 2023, and 2022, the Company recognize expenses in legal services under this agreement amounted
to US$225 and US$196, 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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>

<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">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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 22, 2020, OMA became a related party because
Mr. Ricardo Maldonado Ya&ntilde;ez is an independent member of the board of directors, as well as chairman of our Corporate Practices
Committee and member of the board of directors of OMA and Mrs.&nbsp;Guadalupe Phillips Margain, our independent member, was a member of
the board of directors of OMA until November 2022. As of December 31, 2023, and 2022, the account payable with OMA was US$12,881 and US$13,579,
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,
2023, and 2022, the Company recognized expenses with OMA of US$3,136 and US$3,251, respectively. During the twelve months period ended
December 31, 2023, and 2022, the Company recognized expenses with OMA of US$12,263 and US$9,792, 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">Chevez, Ruiz, Zamarripa y C&iacute;a, 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 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 Committee
of the Company and non-managing limited partner of Chevez. Chevez provides tax advisory services to us. As of December 31, 2023, and 2022,
the account payable with Chevez was US$620 and US$815, 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, 2023, and 2022 the Company recognized expenses with Chevez of US$443 and US$523, respectively. During the twelve months period ended
December 31, 2023, and 2022 the Company recognized expenses with Chevez of US$1,175 and US$923, 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">j)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">A&amp;P International Services, S.A.P.I. de C.V. (&ldquo;AISG&rdquo;)</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">From July 4, AISG has been considered a related party due to 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. As of December 31, 2023, and
2022, the account payable with AISG was US$313 and US$191, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months period ended December 31,
2023, and 2022, the Company recognize expenses in aircraft and engine maintenance amounted to US$809 and US$467, 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 twelve months period ended December 31,
2023, and 2022, the Company recognize expenses in aircraft and engine maintenance amounted to US$2,895 and US$914, 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">k)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Clean Joule, Inc. (&ldquo;Clean Joule&rdquo;)</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">Clean Joule is considered related party because Mr.&nbsp;Brian H. Franke, the chairman
of our board of directors, is an officer of Franke Family Joule, LLC. Since May 23, 2023, he has been a shareholder of Clean Joule and
has the right to appoint a member of its board of directors. Additionally, on May 23, 2023, Mr. Andrew Broderick, a member of our board
of directors, was appointed by Franke Family Joule, LLC, as a member of the board of directors of Clean Joule. Clean Joule is a Company
that produces high-performance and cost-effective Sustainable Aviation Fuel from agricultural waste and organic residues. On May 23, 2023,
the Company directly purchased common stock of Clean Joule, recognizing 139,738 common stock shares amounting to US$1,747.</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">l)</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, 2023, and 2022, the chairman and the independent members of the Company&rsquo;s board of directors received a net compensation
of US$118 and US$160, respectively, and the rest of the directors received a net compensation of US$69 and US$51, respectively.
During the twelve months period ended December 31, 2023, and 2022, the chairman and the independent members of the Company&rsquo;s
board of directors received a net compensation of US$696 and US$561, respectively, and the rest of the directors received a net
compensation of US$242 and US$177, respectively. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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">During the year ended December 31, 2023, the amount paid to the chairman
and independent members includes an in-kind payment through the Company&acute;s shares totaling USD$305.&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 period ended December 31,
2023, and 2022, all the Company&rsquo;s senior managers received an aggregate compensation of short and long-term benefits of US$9,232
and US$8,455, respectively, these amounts were recognized in salaries and benefits in the condensed consolidated statement of operations.
During the twelve months period ended December 31, 2023, and 2022, all the Company&rsquo;s senior managers received an aggregate compensation
of short and long-term benefits of US$19,534 and US$17,630, respectively. These amounts were recognized as part of salaries and benefits
in the condensed consolidated statement 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"><B>Inventories</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">An analysis of inventories As of December 31, 2023,
and December 31, 2022, 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">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">December 31,2022</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%; 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: 4%; padding-bottom: 8pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>US$</B></FONT></TD>
    <TD STYLE="width: 15%; padding-bottom: 8pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%"><B>16,117</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 8pt; text-align: justify; line-height: 105%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-bottom: 8pt; text-align: justify; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">US$</FONT></TD>
    <TD STYLE="width: 16%; padding-bottom: 8pt; text-align: right; line-height: 105%"><FONT STYLE="font-size: 8pt; line-height: 105%">15,758</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&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 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. As of December 31, 2023, and December 31,2022, the Company did not record any impairment loss
in the value of its inventories.</P>

<P STYLE="font: 10pt Times New 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,
2023, and 2022, the amount of consumption of inventories, recorded as an operating expense as part of maintenance expense was US$5,319
and US$4,503, respectively. During the twelve months period ended December 31, 2023, and 2022, the amount of consumption of inventories,
recorded as an operating expense as part of maintenance expense was US$20,928 and US$17,825, 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"><B>Rotable spare parts, furniture and equipment, net</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">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 period ended December 31, 2023,
and 2022, the Company acquired rotable spare parts, furniture, and equipment paid by an amount of US$480,753 and US$347,147, 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$46,108
and US$223,243, were disposed for the twelve months period ended December 31, 2023, and 2022, respectively. These amounts included reimbursements
of pre-delivery payments for aircraft acquisition of US$45,085 and US$221,253, 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, 2023, and 2022 was US$35,521 and US$28,049, respectively. Depreciation expense for the twelve months period ended
December 31, 2023, and 2022 was US$127,402 and US$90,790, respectively. Depreciation charges for the period are recognized as a component
of operating expenses in the condensed consolidated statements of operations.</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 years ended December 31, 2023, and 2022, the Company did not record
any impairment 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"><B>Intangible assets, net</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">a) Acquisitions</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For the twelve months period ended December 31, 2023, and 2022, the Company
acquired intangible assets by an amount of US$10,387 and US$6,790, respectively.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&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, 2023, and 2022 was US$1,681 and US$1,668, respectively. Software amortization expense for the twelve months period ended December
31, 2023, and 2022 was US$6,894 and US$6,696, respectively. These amounts were recognized as part of the 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Leases</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">As of December 31, 2023, 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, 2023, the Company leases 129 aircraft (116 as of December&nbsp;31, 2022) and 20 spare
engines (23 as of December&nbsp;31, 2022) that have maximum terms through 2035. 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="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="width: 26%; 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: 24%; 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, 2023</B></FONT></TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">At December 31, 2022</FONT></TD></TR>
  <TR>
    <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: right"><FONT STYLE="font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3</FONT></TD></TR>
  <TR>
    <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: right"><FONT STYLE="font-size: 8pt"><B>39</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">39</FONT></TD></TR>
  <TR>
    <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: right"><FONT STYLE="font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD></TR>
  <TR>
    <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: right"><FONT STYLE="font-size: 8pt"><B>51</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">48</FONT></TD></TR>
  <TR>
    <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: right"><FONT STYLE="font-size: 8pt"><B>10</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">10</FONT></TD></TR>
  <TR>
    <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: right"><FONT STYLE="font-size: 8pt"><B>25</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">15</FONT></TD></TR>
  <TR>
    <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: right"><FONT STYLE="font-size: 8pt"><B>129</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">116</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>
    <TD STYLE="width: 28%; 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: 26%; 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, 2023</B></FONT></TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">At December 31, 2022</FONT></TD></TR>
  <TR>
    <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">V2524-A5</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 8pt"><B>0</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2</FONT></TD></TR>
  <TR>
    <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: right"><FONT STYLE="font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">3</FONT></TD></TR>
  <TR>
    <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">V2527E-A5</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 8pt"><B>5</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">6</FONT></TD></TR>
  <TR>
    <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">V2527-A5</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 8pt"><B>6</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">6</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; 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">PW1127G-JM</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 8pt"><B>5</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">5</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; 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: right"><FONT STYLE="font-size: 8pt"><B>1</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD></TR>
  <TR>
    <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: bottom; border-bottom: Black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>20</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">23</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. Management evaluates extensions based on the market conditions at
the time of renewal.</P>

<P STYLE="font: 9pt 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">In the third quarter of 2023, Pratt and Whitney announced preventive accelerated
inspections for the GTF engines. Consequently, since 2023, the Company's GTF engines are being reviewed to ensure compliance with these requirements.</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 a result of these preventive accelerated inspections and in accordance
with the business strategy, the Company has extended certain aircraft and engines lease agreements and has added new aircraft and engines
to its fleet. All accounting effects of these aircraft and engines lease extensions and new incorporations have been assessed and presented
into the Company's Financial Statements. Additionally, the compensation received from the manufacturer has been included in the Company's
Consolidated Statement of Operations as of December 31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"></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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">During the three months period ended December 31, 2023, the Company added
four new leased aircraft to its fleet (two A321NEO were acquired through sale and leaseback transactions under the Company&rsquo;s existing
Airbus purchase agreement and two A321neo were obtained directly from the lessor&rsquo;s aircraft order book). All the aircraft incorporated
through the lessor&rsquo;s aircraft order book were not subject to sale and leaseback transactions. Additionally, the Company extended
the lease term of three A320 CEO. These extensions will have an effective extension date in 2024 and 2025.</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">During the twelve months period ended December 31, 2023, the Company added
13 new leased aircraft to its fleet. This includes one A320NEO and two A321NEO acquired through a sale and leaseback transaction under
the existing Airbus purchase agreement, as well as two A320NEO and eight A321NEO incorporated directly from the lessor&acute;s aircraft
order book.</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">The Company also extended the lease term of eight A320CEO aircraft (three
aircraft lease extensions will have an effective extension date during 2023, three during 2024 and two during 2025) and one A321CEO aircraft,
which will have an effective extension date in 2024.</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">During the three months period ended December 31, 2023, the Company extended
the lease term of four spare engines. These extensions will have an effective date during 2023.</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">During the twelve months period ended December 31, 2023, the Company extended
the lease term of six spare engines. These extensions will have an effective date during 2023.</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">During the year ended December 31, 2022, the Company added 18 new leased
aircraft to its fleet (six A320neo and seven A321neo, acquired through a sale and leaseback transaction under our existing Airbus purchase
agreement, three A320neo and two A321neo obtained directly from the lessor&acute;s aircraft order book). All the aircraft incorporated
through the lessor&acute;s aircraft order book were not subject to sale and leaseback transactions.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year 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 in 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">Set out below are the carrying amounts of right-of-use assets recognized
and the movements during the period:</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="padding-left: 1.4pt; font-family: Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-left: 1.4pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Aircraft leases</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-left: 1.4pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Spare engine leases</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-left: 1.4pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Land and building leases</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-left: 1.4pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 40%; padding-left: 1.4pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">As of December 31, 2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2,110,753</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">24,181</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">45,997</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 4%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 12%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2,180,931</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 1.4pt; text-indent: 4.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>428,877</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>13,811</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>4,364</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>447,052</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 1.4pt; text-indent: 4.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Extensions</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>92,774</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>92,774</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 1.4pt; text-indent: 4.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Modifications</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,850</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(8,064)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(6,214)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 1.4pt; text-indent: 4.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Foreign exchange effect</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>7</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>3</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>10</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 1.4pt; text-indent: 4.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Depreciation on right of use assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(337,694)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(11,524)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(12,797)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(362,015)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 1.4pt; font-family: Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">As of December 31, 2023</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,296,567</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>18,404</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>37,567</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,352,528</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">&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: 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: top; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;<B>December 31, 2023</B></FONT></TD>
    <TD STYLE="vertical-align: top; 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">December 31, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 52%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>As of January 1st,</B></FONT></TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="width: 18%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,708,723</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="width: 19%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2,412,137</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>446,985</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">550,834</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Extensions </FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>92,774</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">29,842</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Modifications</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(6,214)</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Disposals </FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(4,378)</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Accretion of interest</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>194,416</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">165,043</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Foreign exchange effect</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,356</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(129)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Payments</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(529,074)</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(449,004)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt"><B>Balances at the end of the reporting period</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,905,588</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></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">2,708,723</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Current</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>372,697</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">335,620</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4pt"><FONT STYLE="font-size: 8pt">Non-current</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>2,532,891</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">2,373,103</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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, 2023, and 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 STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>For the three months period ended</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">December 31, 2022</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 60%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Depreciation of right-of-use assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 14%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>94,105</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 3%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 13%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">83,693</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Interest expense on lease liabilities and aircraft and engine lease return obligation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>33,306</B></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-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">50,058</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Aircraft and engine variable lease expenses</FONT></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; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(14,204)</B></FONT></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">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">34,447</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total amount recognized in profit or loss</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>113,207</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></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">168,198</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 Company had total cash outflows for leases during
the three months period ended  December 31, 2023, of US$138,689 (US$116,516 during the three months period ended  December 31, 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">The following are the amounts recognized in profit
or loss for the twelve months period ended  December 31, 2023, and 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 STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>For the twelve months period ended</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">December 31, 2022</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 60%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Depreciation of right-of-use assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 14%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>362,015</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 3%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 13%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">320,443</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Interest expense on lease liabilities and aircraft and engine lease return obligation</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>191,967</B></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-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">174,769</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Aircraft and engine variable lease expenses</FONT></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; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>103,845</B></FONT></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">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt">124,532</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Total amount recognized in profit or loss</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>657,827</B></FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></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">619,744</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 had total cash outflows for leases during
the twelve months period ended December 31, 2023, of US$529,074 (US$449,004 during the twelve months period ended  December 31, 2022).</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></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As a result of aircraft and engine lease extension agreements recorded
during the three months period ended December 31, 2023, the Company reassessed the return liabilities, resulting in a net benefit of
US$14,204, which was presented as aircraft and engines variable lease expenses in the Consolidated Statements of Operations. During the
three months period ended December 31, 2022, the Company recorded a net expense of US$34,447.</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 period ended December
31, 2023, and 2022, the Company recorded redelivery expenses of US$103,845 and US$124,532, respectively.</P>

<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: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font-size: 10pt"><B>ii)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B></B></FONT>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Aircraft and engines lease extensions</B></P>
<FONT STYLE="font-size: 10pt"><B></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">Due to the aircraft and engines lease extension agreements, the Company
also reassessed the right of use assets and lease liabilities, resulting in a net increase of US$92,774, which was recorded as of December
31, 2023.</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">As of December 31, 2022, the Company recorded a reassessment of the right of use assets and lease liabilities by an amount of
US$30,653.</P>

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


<!-- Field: Page; Sequence: 48 -->
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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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"><B>Equity</B>&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">As of December 31, 2023, 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>
    <TD STYLE="width: 36%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fixed<BR>
Class I</B></FONT></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>Variable<BR>
Class II</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 23%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total shares</B></FONT></TD></TR>
  <TR>
    <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>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>
    <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="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="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="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; 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; border-top: Black 1pt solid; 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; border-top: Black 1pt solid; 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>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Treasury shares </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(14,525,694)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(14,525,694) </B></FONT><B><FONT STYLE="font-size: 6pt">(1)</FONT></B></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; 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; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,151,426,803</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,151,450,983</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;During the year ended December 31, 2023, a total of 330,453 forfeited shares
have been included as part of treasury shares.</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">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>
    <TD STYLE="width: 36%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fixed<BR>
Class I</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 23%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Variable<BR>
Class II</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 23%; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Total shares</B></FONT></TD></TR>
  <TR>
    <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>
    <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="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>13,702</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>57,500,171</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>57,513,873</B></FONT></TD></TR>
  <TR>
    <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>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 8pt">Treasury shares </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(13,452,393)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(13,452,393) </B><SUP>(1)</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt double; 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; border-bottom: Black 1.5pt double; 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="vertical-align: bottom; border-bottom: Black 1.5pt double; 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>

<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: 0pt"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">During the year ended December 31, 2022, a total of 103,712 forfeited shares
have been included as part of treasury shares.</FONT></TD></TR></TABLE>

<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">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 if
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, 2023, and 2022, 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 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 or LPS amounts are calculated by dividing
the 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>


<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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 table shows the calculations of the
basic and diluted earnings (loss) per share for the three months period ended December 31, 2023, and 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">&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">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>For the Three months period ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 43%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 21%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Net earnings (loss) for the period</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$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>112,047</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(21,997)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>Weighted average number of shares outstanding (in thousands):</B></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>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 5.5pt"><FONT STYLE="font-size: 8pt">Basic</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"><FONT STYLE="font-size: 8pt"><B>1,151,640</B></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"><FONT STYLE="font-size: 8pt">1,152,795</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 5.5pt"><FONT STYLE="font-size: 8pt">Diluted</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"><FONT STYLE="font-size: 8pt"><B>1,165,847</B></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"><FONT STYLE="font-size: 8pt">1,165,049</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>EPS or LPS</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; 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>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 5.5pt"><FONT STYLE="font-size: 8pt">Basic</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>0.097</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(0.019)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 5.5pt"><FONT STYLE="font-size: 8pt">Diluted</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>0.096</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(0.019)</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; text-align: justify">The following table shows the calculations of the
basic and diluted earnings (loss) per share for the twelve months period ended December 31, 2023, and 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 STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>For the Twelve months period ended December 31,</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 43%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 21%; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Net earnings (loss) for the period</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$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>7,819</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(80,224)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>Weighted average number of shares outstanding (in thousands):</B></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>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 5.5pt"><FONT STYLE="font-size: 8pt">Basic</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"><FONT STYLE="font-size: 8pt"><B>1,152,609</B></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"><FONT STYLE="font-size: 8pt">1,155,030</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 5.5pt"><FONT STYLE="font-size: 8pt">Diluted</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"><FONT STYLE="font-size: 8pt"><B>1,165,451</B></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"><FONT STYLE="font-size: 8pt">1,165,083</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>EPS or LPS</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; 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>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 5.5pt"><FONT STYLE="font-size: 8pt">Basic</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>0.007</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(0.069)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 5.5pt"><FONT STYLE="font-size: 8pt">Diluted</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>0.007</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(0.069)</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>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">The Company calculates the period income tax (expense)
benefit using the tax rate that would be applicable to the expected total annual earnings. The major components of income tax benefit
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>

<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">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <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>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 51%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Current year income tax benefit (expense)</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>9,333</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(352)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Deferred income tax expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(26,473)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(43,419)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>Total income tax expense</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(17,140)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(43,771)</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">The Company&rsquo;s effective tax rate during the
three months period ended December 31, 2023, and 2022 was 13% and 201% 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"><B>Unaudited condensed consolidated statement of operations</B></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="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <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>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 51%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Current year income tax expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(21,939)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">(15,456)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">Deferred income tax benefit</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>22,316</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">67,595</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt"><B>Total income tax benefit</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>377</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 8pt">52,139</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">The Company&rsquo;s effective tax rate during the
twelve months period ended December 31, 2023, and 2022 was 5% and 39% respectively.<B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 50 -->
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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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">As of December 31, 2023, the Company had tax proceedings regarding uncertain
tax positions by an approximately amount of US$76 million. These tax proceedings are associated to the deductibility of certain Company
expenses during 2013, 2014 and 2015. The Company has initiated legal administrative procedures and has arguments to believe that it will
not have any adverse effect. Nonetheless, until all stages in the procedures are exhausted for each proceeding, the Company cannot guarantee
the attainment of a final favorable resolution.</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>Commitments and contingencies</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"><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; text-align: justify">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 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: 58%; padding-right: 1.4pt; padding-left: 1.4pt">
    <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></TD>
    <TD STYLE="width: 42%; 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>Commitment expenditures in thousands of U.S. dollars</B></P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>280,818</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2025</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>711,112</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2026</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,408,871</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2027</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,123,329</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2028 and thereafter</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>3,065,774</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>6,589,904</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">All aircraft acquired by the Company through the Airbus
purchase agreement through December 31, 2023, have been executed through 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">In addition, we have commitments to execute sale and
leaseback over the next three 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 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: 57%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="width: 43%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Aircraft sale prices estimated </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>in thousands of U.S. dollars</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>626,500</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2025</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>821,000</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,447,500</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">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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 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: 57%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="width: 43%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Aircraft leases </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>in thousands of U.S. dollars</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>19,440</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2025</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>84,730</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2026</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>96,869</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2027</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>96,869</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-align: center"><FONT STYLE="font-size: 8pt">2028 and thereafter</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>864,521</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,162,429</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 51; Options: NewSection; Value: 51 -->
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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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 A320 New Engine Option (&ldquo;neo&rdquo;) 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 19 aircraft from A320neo to A321neo aircraft of its current order, 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 10th, 2022, the Company executed an amendment
to our existing Airbus purchase agreement for the purchase of 25 A321neo aircraft, all to be delivered in 2030.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>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 0 0 0.5pt; 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, 2023, and 2022 these possible contingencies amount to a total of US$29.4 million and US$7.8 million, respectively.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company is managed as a single business unit that provides air transportation
services. The Company has two geographic segments identified below:</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="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 9pt"><B>Three months period ended December 31,</B></FONT></TD></TR>
  <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: 9pt"><B>2023</B></FONT></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: 9pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 59%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt"><B>Operating revenues:</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 14%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 9pt">Domestic (Mexico)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>556,653</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">518,544</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 9pt">International:</FONT></TD>
    <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; text-align: right">&nbsp;</TD>
    <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; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">United States of America</FONT></TD>
    <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; text-align: right"><FONT STYLE="font-size: 9pt"><B>268,018</B></FONT></TD>
    <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; text-align: right"><FONT STYLE="font-size: 9pt">230,260</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Central America and South America</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; 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: 9pt"><B>73,849</B></FONT></TD>
    <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; text-align: right"><FONT STYLE="font-size: 9pt">71,311</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">Total operating revenues </FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>898,520</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">820,115</FONT></TD></TR>
  </TABLE>
<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="padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 9pt"><B>Twelve months period ended December 31,</B></FONT></TD></TR>
  <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: 9pt"><B>2023</B></FONT></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: 9pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 58%; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt"><B>Operating revenues:</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 6%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 14%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 7%; padding-right: 1.4pt; padding-left: 1.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 9pt">Domestic (Mexico)</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2,070,569</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">1,909,744</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 4.5pt"><FONT STYLE="font-size: 9pt">International:</FONT></TD>
    <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; text-align: right">&nbsp;</TD>
    <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; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">United States of America</FONT></TD>
    <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; text-align: right"><FONT STYLE="font-size: 9pt"><B>921,999</B></FONT></TD>
    <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; text-align: right"><FONT STYLE="font-size: 9pt">758,609</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Central America and South America</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; 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: 9pt"><B>266,405</B></FONT></TD>
    <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; text-align: right"><FONT STYLE="font-size: 9pt">178,837</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">Total operating revenues </FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt"><B>US$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>3,258,973</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt"><FONT STYLE="font-size: 9pt">US$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1.5pt double; padding-right: 1.4pt; padding-left: 1.4pt; text-align: right"><FONT STYLE="font-size: 9pt">2,847,190</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">Revenues are allocated by geographic segments based upon the origin of
each flight. The Company does not have material non-current assets located in foreign countries.</P>

<P STYLE="font: 10pt Times New 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>Subsequent events</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 of February 26, 2024, no relevant subsequent events that could significantly
impact the condensed consolidated interim financial statements were identified.</P>

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

<!-- Field: Page; Sequence: 52 -->
    <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 -->52<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</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"></P>

<P STYLE="font: 1pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #A32885"><B>d</B></P>

<P STYLE="font: 1pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #A32885"><B>9</B></P>




















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

<P STYLE="font: 1pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #A32885"><B>d</B></P>

<P STYLE="font: 1pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #A32885"><B>9</B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center; color: #A32885"><B>Volaris Reports Financial Results
for the </B></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center; color: #A32885"><B>Fourth Quarter 2023: Net Income
of USD $112 million</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 2pt/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 26, 2024</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 carrier (ULCC) serving Mexico, the United States, Central, and South America, today
announces its financial results for the fourth quarter and full year 2023<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 2023 Highlights</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 4Q 2022 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/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Net income </B>of $112 million. Earnings per
share of $0.10 and earnings per ADS of $0.97 cents. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating revenues </B>of $899 million,
a 10% increase. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total revenue per available seat mile (TRASM)</B>
increased 11% to $9.56 cents.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Available seat miles (ASMs)</B> decreased 1.1%
to 9.4 billion.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating expenses</B> of $735 million,
representing 82% of total operating revenue. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&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> decreased 2.3% to $7.81 cents. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Average economic fuel cost</B> decreased 16%
to $3.13 per gallon.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CASM ex fuel</B> increased 11% to $4.86 cents.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EBITDAR </B>of $281 million, a 35% increase.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EBITDAR margin</B> was 31.3%, an increase of
6.0 percentage points.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total cash, cash equivalents, restricted cash,
and short-term investments </B>totaled $789 million, representing 24% of the last twelve months&#8217; total operating revenue.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% Calibri, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Net debt-to-LTM EBITDAR<FONT STYLE="font-size: 11pt; line-height: 115%"><SUP>[2]</SUP></FONT></B>
ratio decreased to 3.4x, compared to 3.9x in 2022.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/150% Arial, Helvetica, Sans-Serif; margin: 6pt 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Enrique Beltranena, President &amp; Chief
Executive Officer, said:</B> &#8220;Throughout 2023, we gained valuable lessons when resizing the operations, capitalizing on strong demand
while adjusting our network, and turned a very complex situation into a solid financial result for the fourth quarter. We recorded our
highest-ever historical quarterly TRASM and posted a net income of $112 million. Our performance demonstrated resilience in the face of
the challenges encountered throughout the year, such as the extended FAA downgrade of Mexico to CAT 2, Pratt &amp; Whitney's engine preventive
accelerated inspections, and slot reductions at the Mexico City International Airport. Our proactive strategies and mitigation plan have
proven effective.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">Looking ahead, 2024 holds promise, as our
booking curves and total unit revenues indicate continuing favorable trends aligned with guidance. We expect that our focus on operational efficiency,
customer satisfaction, and prudent capacity management will continue to drive profitability.&#8221;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<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="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="line-height: 115%"><SUP>[2]</SUP></FONT> Includes short-term
investments.</P>


<!-- Field: Page; Sequence: 53 -->
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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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>Full Year 2023 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 2022 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/150% 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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Net income</B> of $8 million. Earnings per
share of $0.01 and earnings per ADS of $0.07.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% 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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating revenues</B> of $3,259 million,
a 14% increase. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% 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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total revenue per available seat mile (TRASM)</B>
increased 3.8% to $8.38 cents.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% 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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Available seat miles (ASMs)</B> increased 10%
to 38.9 billion.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% 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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total operating expenses</B> of $3,036 million,
representing 93% of total operating revenue. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% 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: 150%">&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>) decreased 1.7% to $7.81 cents.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% 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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Average economic fuel cost</B> decreased 18%
to $3.11 per gallon.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% 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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CASM ex fuel</B> increased 13% to $4.81 cents.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% 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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EBITDAR </B>of $823 million, a 40% increase.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/150% 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: 150%">&lt;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EBITDAR margin</B> was 25.2%, an increase of
4.7 percentage points.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 6pt 0.5in; text-align: justify">&nbsp;</P>

<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 6pt; text-align: justify">&nbsp;</P>

<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 6pt; text-align: justify">&nbsp;</P>

<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 6pt; text-align: justify">&nbsp;</P>

<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 6pt; text-align: justify">&nbsp;</P>

<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 6pt; text-align: justify">&nbsp;</P>

<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 6pt; text-align: justify">&nbsp;</P>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><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>


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    <!-- Field: /Page -->

<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>Fourth Quarter and Full Year 2023 Financial
and Operations Highlights<SUP>3</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 2022 and FY 2022 unless otherwise noted)</P>

<P STYLE="font: 10pt/110% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</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: 9pt; 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: 9pt; 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: 9pt"><B>Consolidated Financial Highlights</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>Var.</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><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: 9pt"><B>Total operating revenue (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: 9pt"><B>899</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: 9pt"><B>820</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: 9pt"><B>9.6% </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: 9pt"><B>3,259</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: 9pt"><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: 9pt"><B>14.5% </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: 9pt">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: 9pt">9.56</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: 9pt">8.63</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: 9pt">10.7% </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: 9pt">8.38</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: 9pt">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: 9pt">3.8% </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: 9pt">ASMs (million, 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: 9pt">9,402</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: 9pt">9,504</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: 9pt">(1.1%)</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: 9pt">38,890</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: 9pt">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: 9pt">10.2% </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: 9pt">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: 9pt">88.1%</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: 9pt">87.3%</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: 9pt">0.8 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: 9pt">86.0%</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: 9pt">85.6%</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: 9pt">0.4 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: 9pt">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: 9pt">8,247</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: 9pt">8,475</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: 9pt">(2.7%)</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: 9pt">33,497</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: 9pt">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: 9pt">7.9% </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: 9pt">Fleet (at the end of the 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: 9pt">129</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: 9pt">117</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: 9pt">12</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: 9pt">129</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: 9pt">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: 9pt">12</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: 9pt"><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: 9pt"><B>735</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: 9pt"><B>760</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: 9pt"><B>(3.3%)</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: 9pt"><B>3,036</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: 9pt"><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: 9pt"><B>8.3% </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: 9pt">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: 9pt">7.81</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: 9pt">8.00</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: 9pt">(2.3%)</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: 9pt">7.81</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: 9pt">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: 9pt">(1.7%)</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: 9pt">CASM excl. 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: 9pt">4.86</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: 9pt">4.39</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: 9pt">10.7% </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: 9pt">4.81</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: 9pt">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: 9pt">12.8% </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Adjusted CASM excl. fuel (cents)<FONT STYLE="line-height: 115%"><SUP>[4]</SUP></FONT></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: 9pt">5.07</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: 9pt">4.10</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: 9pt">23.7% </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: 9pt">4.57</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: 9pt">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: 9pt">15.0% </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: 9pt"><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: 9pt"><B>164 </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: 9pt"><B>60 </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: 9pt"><B>173.3% </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: 9pt"><B>223 </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: 9pt"><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: 9pt"><B>406.8% </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: 9pt"><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: 9pt">18.3%</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: 9pt">7.3% </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: 9pt">11.0 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: 9pt">6.8%</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: 9pt">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: 9pt">5.3 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: 9pt"><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: 9pt"><B>112</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: 9pt"><B>(22)</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: 9pt"><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: 9pt"><B>8</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: 9pt"><B>(80)</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: 9pt"><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: 9pt"><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: 9pt">12.5% </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: 9pt">(2.7%)</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: 9pt">15.2 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: 9pt">0.2% </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: 9pt">(2.8%)</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: 9pt">3.1 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: 9pt"><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: 9pt"><B>281</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: 9pt"><B>208</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: 9pt"><B>35.1% </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: 9pt"><B>823</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: 9pt"><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: 9pt"><B>40.4% </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: 9pt">% EBITDAR Margin</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: 9pt">31.3%</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: 9pt">25.3%</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: 9pt">6.0 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: 9pt">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: 9pt">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: 9pt">4.7 pp </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: 9pt"><B>Net debt-to-EBITDAR</B><FONT STYLE="line-height: 115%"><SUP>[5]</SUP></FONT></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: 9pt"><B>3.4x</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: 9pt"><B>3.9x</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: 9pt"><B>-0.5x</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: 9pt"><B>3.4x</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: 9pt"><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: 9pt"><B>-0.5x</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 12pt 0 0.6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 12pt 0 0.6pt; text-align: justify"><B>Reconciliation of CASM to Adjusted
CASM ex fuel:</B></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>

<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: 9pt; 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: 9pt; 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: 9pt"><B>Reconciliation of CASM</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>Var.</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 9%; 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: 9pt"><B>Var.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><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: 9pt"><B>7.81</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: 9pt"><B>8.00</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: 9pt">(2.3%)</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: 9pt"><B>7.81</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: 9pt"><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: 9pt">(1.7%)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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: 9pt">Fuel expense</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: 9pt">(2.95)</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: 9pt">(3.61)</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: 9pt">(18.4%)</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: 9pt">(3.00)</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: 9pt">(3.69)</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: 9pt">(18.9%)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><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: 9pt"><B>4.86</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: 9pt"><B>4.39</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: 9pt">10.7% </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: 9pt"><B>4.81</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: 9pt"><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: 9pt">12.8% </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Aircraft and engine variable lease expenses<FONT STYLE="line-height: 115%"><SUP>[6]</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: 9pt">0.15 </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: 9pt">(0.36)</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: 9pt">N/A</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: 9pt">(0.27)</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: 9pt">(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: 9pt">(24.4%)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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: 9pt">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: 9pt">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: 9pt">0.07 </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: 9pt">(15.2%)</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: 9pt">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: 9pt">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: 9pt">(47.9%)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><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: 9pt"><B>5.07</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: 9pt"><B>4.10</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: 9pt">23.7% </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: 9pt"><B>4.57</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: 9pt"><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: 9pt">15.0% </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>
<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">Note: Figures are rounded for convenience purposes. Further detail can be
found in financial and operating indicators.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><SUP>3</SUP> 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="line-height: 115%"><SUP>[4]</SUP></FONT> Excludes fuel expense,
aircraft and engine variable lease expenses and sale and lease-back gains.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="line-height: 115%"><SUP>[5]</SUP></FONT> Includes short-term
investments.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="line-height: 115%"><SUP>[6]</SUP></FONT> Aircraft redeliveries.</P>

<!-- Field: Page; Sequence: 55 -->
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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>Fourth Quarter 2023</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 were $899 million, a 10% increase, driven by an improved load factor and increased adoption of ancillary offerings.</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">Booked <B>passengers</B> amounted to 8.2
million in the quarter, a decrease of 2.7%. Domestic booked passengers decreased 7.7%, while international booked passengers increased
17%.</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">Total capacity, in terms of <B>available
seat miles (ASMs)</B>, decreased 1.1% to 9.4 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">The <B>load factor</B> for the quarter
reached 88.1%, representing an increase of 0.8 percentage points compared to the same period in 2022.</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 11% to $9.56 cents
in the quarter and total operating revenue per passenger stood at $109, representing a 13% 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">The average base fare was $54, a decline
of 2.3%. The total ancillary revenue per passenger was $55, a 32% increase. Ancillary revenue represented 50% of total operating revenue,
7.6 percentage points above the fourth quarter 2022.</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 $735 million, representing 82% of total operating revenue, compared to 93% in the fourth quarter of 2022.</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 $7.81 cents, a 2.3%
decrease when compared to the same period of 2022. The <B>average economic fuel cost</B> decreased 16% to $3.13 per gallon in the period.</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 ex fuel </B>increased 11% to $4.86
cents. These increases were mainly caused by higher fleet depreciation, reduced capacity, and a stronger Mexican peso; partially offset
by lower redelivery costs due to lease extensions and the compensation from Pratt &amp; Whitney.</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>Comprehensive financing result</B>
represented an expense of $35 million in the fourth quarter of 2023, compared to a $38 million expense in the same period of 2022. For
the period, the average exchange rate was Ps.17.58 per U.S. dollar, a 11% appreciation compared to the same quarter of 2022. At the end
of the fourth quarter, the exchange rate stood at Ps.16.89 per U.S. 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>Income tax expense</B> for the quarter
was $17 million, compared to $44 million registered in the same period of 2022.</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 $112
million, with an earnings per share of $0.10 and an earnings per ADS of $0.97 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>EBITDAR</B> for the quarter was $281
million, an increase of 35% compared to the same period in 2022, primarily attributable to higher unit revenues and lower fuel prices.
<B>EBITDAR margin</B> stood at 31.3%, an increase of 6.0 percentage points compared to the same quarter of the previous year.</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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Cash Flow</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</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 $218 million. Net cash flow used in financing and investing activities was $82 million and $113 million, respectively.</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
2023</B></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 revenues</B> were $3,259
million, an increase of 14% compared to 2022.</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 33.5 million <B>passengers</B>,
an increase of 7.9%, while total capacity for the year, in terms of <B>available seat miles (ASMs)</B>, increased 10% to 38.9 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"><B>Load factor</B> reached 86.0%, an increase
of 0.4 percentage points compared to 2022.</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 3.8% to $8.38 cents.
Average base fare was $49, a 7.9% decrease and total operating revenue per passenger stood at $97, representing an increase of 6.1%.</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">Ancillary revenue per passenger was $48,
posting a 26% increase and represented 49% of total operating revenues.</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 35.3pt; text-align: justify; text-indent: -35.3pt">Volaris posted
<B>total operating expenses</B> of $3,036 million, representing 93% of 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">compared
to 98% in 2022.</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> decreased 1.7% to $7.81 cents.
The average economic fuel cost of $3.11 per gallon, a 18% decrease compared to 2022 levels. <B>CASM ex fuel</B> increased 13% to $4.81
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">The <B>comprehensive financing result</B>
for the full year 2023 amounted to an expense of $215 million, compared to the $176 million expense posted in 2022. The average exchange
rate was Ps.17.76 per US dollar, a 12% appreciation compared to 2022. At the end of the period, the exchange rate stood at Ps.16.89 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">The Company recorded an <B>income tax
benefit </B>for the full year 2023 of $0.4 million, compared to an income tax benefit of $52 million registered in 2022.</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, Volaris reported
a <B>net income o</B>f $8 million, with an earnings per share of $0.01 and earnings per ADS of $0.07.</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
$823 million, a 40% increase compared to 2022. <B>EBITDAR margin</B> was 25.2%, an increase of 4.7 percentage points.</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>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Balance Sheet, Liquidity and Capital Allocation</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify">As of December 31, 2023, cash, cash equivalents,
restricted cash and short-term investments were $789 million, representing 24% 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: 0 0 0.6pt 35.3pt; text-align: justify; text-indent: -35.3pt">Net cash
flow provided by operating activities was $730 million, while cash used in investing and</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt 35.3pt; text-align: justify; text-indent: -35.3pt">financing
activities were $462 million and $214 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">The financial debt amounted to $653 million,
while total lease liabilities stood at $2,906 million, bringing the net debt to $2,770 million.</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 debt-to-LTM EBITDAR</B><FONT STYLE="font-size: 11pt; line-height: 115%"><SUP>[7]</SUP></FONT>
ratio stood at 3.4x, compared to 3.9x in 2022 and 3.5x in the third quarter of 2023.</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>&nbsp;</B></P>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%"><SUP>[7]</SUP></FONT>
I<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">ncludes short-term investments.</FONT></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: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0.6pt; text-align: justify"><B>2024 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 Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the first quarter of 2024, the Company expects:</P>

<P STYLE="font: 11pt 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="width: 47%; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 26%; background-color: #9F3393; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white; line-height: 115%"><B>1Q&#8217;24</B></FONT></TD>
    <TD STYLE="width: 27%; background-color: #9F3393; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white; line-height: 115%"><B>1Q&#8217;23 <SUP>(1)</SUP></B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0.75pt; 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>1Q&#8217;24 Guidance</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; line-height: 115%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; 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%">ASM growth (YoY)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">-16% to -18%</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">+17.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; 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%">TRASM </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">$8.5 to $8.7 cents</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">$7.71 cents</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; 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%">CASM ex fuel</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">$5.5 to $5.7 cents</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">$4.65 cents</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0.75pt; 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%">EBITDAR margin</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">25% to 27%</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">16.8%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-top: 0.75pt; 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%">Average USD/MXN rate</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">Ps. $17.00 to $17.20</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">Ps. 18.70</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-top: 0.75pt; 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%">Average U.S. Gulf Coast jet fuel price</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">$2.55 to $2.65</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">$3.06</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 35.4pt; text-align: justify">(1) For convenience purposes, actual reported
figures for 1Q'23 are included.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the full year 2024, the Company expects:</P>

<P STYLE="font: 11pt 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="width: 48%; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 25%; background-color: #9F3393; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white; line-height: 115%"><B>2024</B></FONT></TD>
    <TD STYLE="width: 27%; background-color: #9F3393; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: white; line-height: 115%"><B>2023 <SUP>(2)</SUP></B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0.75pt; 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>Full Year Guidance</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; line-height: 115%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; 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%">ASM growth (YoY)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">-16% to -18%</FONT></TD>
    <TD STYLE="text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">+10.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; 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%">EBITDAR margin</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">31% to 33%</FONT></TD>
    <TD STYLE="text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">25.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 0.75pt; 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%">CAPEX <SUP>(3)</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">~$300 million</FONT></TD>
    <TD STYLE="text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">$252 million</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-top: Black 1pt solid; padding-top: 0.75pt; 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%">Average USD/MXN rate</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">Ps. $17.70 to $17.90</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">Ps.17.76</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-top: 0.75pt; 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%">Average U.S. Gulf Coast jet fuel price</FONT></TD>
    <TD STYLE="padding-top: 0.75pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">$2.50 to $2.60</FONT></TD>
    <TD STYLE="text-align: center; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; line-height: 115%">$2.73</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 45pt">(2) For convenience purposes, actual reported figures for 2023 are
included.</P>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 45pt">(3) CAPEX net of financed fleet predelivery payments.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The first quarter and full year 2024 outlook presented
above includes the compensation that Volaris expects to receive for the projected grounded aircraft resulting from the GTF engine removals,
in accordance with the Company&#8217;s agreement with Pratt &amp; Whitney that was previously announced on December 5, 2023.</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company's outlook is subject to unforeseen
disruptions, macroeconomic factors, or other negative impacts that may affect its business, and is based on several assumptions, including
the foregoing, which are subject to change and may be outside the control of the Company and its management. The Company's expectations
may change if actual results vary from these assumptions. There can be no assurances that Volaris will achieve these results.<B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</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; text-align: justify; margin-right: 0; margin-left: 0">During the fourth quarter,
Volaris added four A321neo aircraft to its fleet, bringing the total number of aircraft to 129 as of December 31<SUP>st</SUP>, 2023. At
the end of the year, Volaris&#8217; fleet has an average age of 5.7 years and an average seating capacity of 196 passengers per aircraft.
Of the total fleet, 59% of the aircraft are New Engine Option (NEO) models.</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="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>Third Quarter</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>Total Fleet</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2022</B></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"><B>Var.</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>2023</B></FONT></TD>
    <TD COLSPAN="2" STYLE="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 STYLE="background-color: #F2F2F2">
    <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"><B>CEO</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&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">A319</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">3</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">4</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">(1)</FONT></TD>
    <TD COLSPAN="2" 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">3</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></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">A320</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">40</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">40</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">-</FONT></TD>
    <TD COLSPAN="2" 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">40</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></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">A321</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">10</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">10</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">-</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; 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">10</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">-</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <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"><B>NEO</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">A320</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">51</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">48</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">3</FONT></TD>
    <TD COLSPAN="2" 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">51</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></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">A321</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">25</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">15</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">10</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; 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">21</FONT></TD>
    <TD STYLE="white-space: nowrap; 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">4</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Total aircraft at the end of the period</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>129</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>117</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"><B>12</B></FONT></TD>
    <TD COLSPAN="2" 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>125</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</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 44%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;&nbsp;</I></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>The information included in this release, including
the Company&#8217;s full-year 2023 financial information, has not been audited and reflects the Company&#8217;s current estimates based
on information available as of the date of this release. Such information is subject to change as a result of the completion of the Company&#8217;s
financial and operating closing procedures, customary audit procedures, and other developments that may occur before the completion of
these procedures. Accordingly, you should not place undue reliance on this preliminary information or guidance, which may differ materially
from actual results. Volaris&#8217; future performance depends on several factors. It cannot be inferred that any period&#8217;s performance
or its comparison year over year will indicate a similar performance in the future.</I></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; 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.<B>&nbsp;</B></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>&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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; background-color: white">&nbsp;<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 / ir@volaris.com</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>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0">Israel &Aacute;lvarez / ialvarez@gcya.net</P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>Conference Call Details</B></P>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>&nbsp;</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: 26%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Date:</B></FONT></TD>
    <TD STYLE="width: 74%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Tuesday, February 27, 2024</B></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"><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"><B>8:00 am Mexico City / 9:00 am New York (USA) (ET)</B></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"><B>Webcast link:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Volaris Webcast</B> (View the live webcast)</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"><B>Dial-in &amp; Live Q&amp;A link: </B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0"><B>Volaris Dial-in and Live Q&amp;A</B></P>
    <P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 16.95pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Click on the call link and complete the online registration form.</FONT></P>
    <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 16.95pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Upon registering you will receive the dial-in info and a unique PIN to
    join the call, as well as an email confirmation with the details.</FONT></P>
    <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 16.95pt; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Select a method for joining the call:</FONT></P>
    <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 30.75pt; text-align: justify; text-indent: -4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">i.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dial-In: A dial-in number and unique PIN are displayed to connect directly
    from your phone.</FONT></P>
    <P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 30.75pt; text-align: justify; text-indent: -4.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">ii.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;
    </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Call Me: Enter your phone number and click &#8220;Call Me&#8221; for an
    immediate callback from the system.</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 61 -->
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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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>About Volaris</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt/107% 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 &#8220;the 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 211 and its fleet from 4 to 133 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 one of the youngest fleets 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 fourteen consecutive years. For more information,
please visit ir.volaris.com. Volaris routinely posts information that may be important to investors on its investor relations website.
The Company encourages investors and potential investors to consult the Volaris website regularly for important information about Volaris.</P>

<P STYLE="font: 8pt/107% Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">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 describing the Company's objectives, plans or goals, or actions the Company may take in the future are
forward-looking. Forward-looking statements include, without limitation, statements regarding the Company's first quarter and full year
2024 outlook, maintenance of its full year 2023 guidance, expectation to receive certain compensation in connection with the GTF engine
removals and anticipated execution of its business plan and focus on its 2024 priorities. Forward-looking statements should not be read
as a guarantee or assurance of future performance or results. They 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 concerning 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. The Company's US Securities and Exchange Commission filings contain additional information concerning these
and other factors. 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 Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white"><B>Supplemental Information
on Non-GAAP Measures</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">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, Net debt-to-LTM EBITDAR, Total cash,
cash equivalents, restricted cash, and short-term investments. 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. We define Total cash, cash equivalents,
restricted cash, and short-term investments as the sum of cash, cash equivalents, restricted cash, and short-term investments.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">These non-IFRS measures are
provided as supplemental information to the financial information presented in this release that is calculated and 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 and investors overall understanding of our operating performance.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">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 Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">similarly titled measures presented
by other companies due to possible differences in the method of calculation and the items being adjusted.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">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: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white"><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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt 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 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">&nbsp;</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="width: 53%; 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 U.S. dollars, except otherwise indicated)</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Three months ended December 31, 2023</B></FONT></TD>
    <TD STYLE="width: 18%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Three months ended December 31, 2022</B></FONT></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: 9pt; color: white"><B>Variance </B></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: 9pt">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: 9pt">899</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: 9pt">820</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: 9pt">9.6% </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: 9pt">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: 9pt">735</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: 9pt">760</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: 9pt">(3.3%)</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: 9pt">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: 9pt">164</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: 9pt">60</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: 9pt">173.3% </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: 9pt">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: 9pt">18.3% </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: 9pt">7.3% </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: 9pt">11.0 pp </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: 9pt">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: 9pt">131</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: 9pt">114</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: 9pt">14.9% </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: 9pt">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: 9pt">(14)</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: 9pt">34</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: 9pt">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: 9pt">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: 9pt">112</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: 9pt">(22)</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: 9pt">N/A</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: 9pt">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: 9pt">12.5% </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: 9pt">(2.7%)</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: 9pt">15.2 pp </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: 9pt"><B>Earnings (loss) per share <SUB>(6)</SUB>:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt">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: 9pt">0.10 </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: 9pt">(0.02)</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: 9pt">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: 9pt">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: 9pt">0.10 </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: 9pt">(0.02)</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: 9pt">N/A</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: 9pt"><B>Earnings (loss) per ADS *:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt">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: 9pt">0.97 </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: 9pt">(0.19)</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: 9pt">N/A</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: 9pt">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: 9pt">0.96 </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: 9pt">(0.19)</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: 9pt">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: 9pt"><B>Weighted average shares outstanding:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt">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: 9pt">1,151,640,062</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: 9pt">1,152,794,610</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: 9pt">(0.1%)</FONT></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: 9pt">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: 9pt">1,165,847,298</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: 9pt">1,165,048,915</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: 9pt">0.1%</FONT></TD></TR>
  <TR STYLE="background-color: #A03394">
    <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: 9pt; color: white"><B>Financial Indicators</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt">Total operating revenue per ASM (TRASM) (cents) <SUB>(1)</SUB></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: 9pt">9.56</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: 9pt">8.63</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: 9pt">10.7% </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: 9pt">Average base fare per passenger</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: 9pt">54</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: 9pt">55</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: 9pt">(2.3%)</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: 9pt">Total ancillary revenue per passenger <SUB>(3)</SUB></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: 9pt">55</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: 9pt">41</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: 9pt">32.5% </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: 9pt">Total operating revenue per passenger</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: 9pt">109</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: 9pt">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: 9pt">12.6% </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: 9pt">Operating expenses per ASM (CASM) (cents) <SUB>(1)</SUB></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: 9pt">7.81</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: 9pt">8.00</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: 9pt">(2.3%)</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: 9pt">CASM ex fuel (cents) <SUB>(1)</SUB></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: 9pt">4.86</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: 9pt">4.39</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: 9pt">10.7% </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">Adjusted CASM ex fuel (cents) <SUB>(1) (5)</SUB></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: 9pt">5.07</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: 9pt">4.10</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: 9pt">23.7% </FONT></TD></TR>
  <TR STYLE="background-color: #A03394">
    <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: 9pt; color: white"><B>Operating Indicators</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; 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">Available seat miles (ASMs) (millions) <SUB>(1)</SUB></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,402</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">9,504</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: 9pt">(1.1%)</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: 9pt">&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: 9pt">5,832</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: 9pt">6,571</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: 9pt">(11.2%)</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: 9pt">&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: 9pt">3,570</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: 9pt">2,933</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: 9pt">21.7% </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: 9pt">Revenue passenger miles (RPMs) (millions) <SUB>(1)</SUB></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: 9pt">8,288</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: 9pt">8,300</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: 9pt">(0.2%)</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: 9pt">&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: 9pt">5,356</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: 9pt">&nbsp;5,831</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: 9pt">(8.1%)</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: 9pt">&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: 9pt">2,931</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: 9pt">2,469</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: 9pt">18.7% </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: 9pt">Load factor <SUB>(2)</SUB></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: 9pt">88.1%</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: 9pt">87.3%</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: 9pt">0.8 pp </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: 9pt">&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: 9pt">91.8%</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: 9pt">88.7%</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: 9pt">3.1 pp </FONT></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: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International</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: 9pt">82.1%</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: 9pt">84.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: #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: 9pt">(2.1 pp)</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: 9pt">Booked passengers (thousands) <SUB>(1)</SUB></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: 9pt">8,247</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: 9pt">8,475</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: 9pt">(2.7%)</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: 9pt">&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: 9pt">6,225</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: 9pt">6,746</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: 9pt">(7.7%)</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: 9pt">&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: 9pt">2,022</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: 9pt">1,729</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: 9pt">17.0% </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: 9pt">Departures <SUB>(1)</SUB></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: 9pt">47,671</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: 9pt">50,950</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: 9pt">(6.4%)</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: 9pt">Block hours <SUB>(1)</SUB></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: 9pt">125,221</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: 9pt">131,860</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: 9pt">(5.0%)</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: 9pt">Aircraft at end 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: 9pt">129</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: 9pt">117</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: 9pt">12</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: 9pt">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: 9pt">13.23</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: 9pt">13.29</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: 9pt">(0.4%)</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: 9pt">Fuel gallons accrued (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: 9pt">88.0</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: 9pt">91.9</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: 9pt">(4.2%)</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: 9pt">Average economic fuel cost per gallon <SUB>(4)</SUB></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: 9pt">3.13</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: 9pt">3.71</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: 9pt">(15.5%)</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: 9pt">Average exchange rate</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: 9pt">17.58</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: 9pt">19.70</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: 9pt">(10.7%)</FONT></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: 9pt">Exchange rate at the end of the period</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: 9pt">16.89</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: 9pt">19.36</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: 9pt">(12.7%)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">*Each ADS represents ten CPOs and each CPO represents a financial interest in one Series A share</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: 7pt">(1) Includes schedule and charter.<BR>
(2) Includes schedule.<BR>
(3) Includes &#8220;Other passenger revenues&#8221; and &#8220;Non-passenger revenues&#8221;.<BR>
(4) Excludes Non-creditable VAT.<BR>
(5) Excludes fuel expense, aircraft and engine variable lease expenses and sale<BR>
and lease-back gains.</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">(6) The basic and diluted loss or earnings per share are calculated in<BR>
accordance with IAS 33. Basic loss or earnings per share is calculated by<BR>
dividing net loss or earnings by the average number of shares outstanding<BR>
(excluding treasury shares). Diluted loss or earnings per share is calculated by<BR>
dividing net loss or earnings by the average number of shares outstanding<BR>
adjusted for dilutive effects.</FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 63 -->
    <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 -->63<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt 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 Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Financial and Operating Indicators</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</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="width: 51%; 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 U.S. dollars, except otherwise indicated)</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Twelve months ended December 31, 2023</B></FONT></TD>
    <TD STYLE="width: 19%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Twelve months ended December 31, 2022</B></FONT></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: 9pt; 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: 9pt">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: 9pt">3,259 </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: 9pt">2,847 </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: 9pt">14.5% </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: 9pt">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: 9pt">3,036 </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: 9pt">2,803 </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: 9pt">8.3% </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: 9pt">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: 9pt">223 </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: 9pt">44 </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: 9pt">406.8% </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: 9pt">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: 9pt">6.8% </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: 9pt">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: 9pt">5.3 pp </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: 9pt">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: 9pt">496 </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: 9pt">417 </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: 9pt">18.9% </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: 9pt">Aircraft and engine variable lease 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: 9pt">104 </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: 9pt">125 </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: 9pt">(16.8%)</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: 9pt">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: 9pt">8 </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: 9pt">(80)</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: 9pt">N/A</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: 9pt">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: 9pt">0.2% </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: 9pt">(2.8%)</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: 9pt">3.1 pp </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: 9pt"><B>Earnings (loss) per share <SUB>(6)</SUB>:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt">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: 9pt">0.01 </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: 9pt">(0.07)</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: 9pt">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: 9pt">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: 9pt">0.01 </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: 9pt">(0.07)</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: 9pt">N/A</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: 9pt"><B>Earnings (loss) per ADS *:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt">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: 9pt">0.07 </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: 9pt">(0.69)</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: 9pt">N/A</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: 9pt">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: 9pt">0.07 </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: 9pt">(0.69)</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: 9pt">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: 9pt"><B>Weighted average shares outstanding:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt">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: 9pt">1,152,609,485</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: 9pt">1,155,029,942</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: 9pt">(0.2%)</FONT></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: 9pt">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: 9pt">1,165,450,734</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: 9pt">1,165,083,012</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: 9pt">0.0%</FONT></TD></TR>
  <TR STYLE="background-color: #A03394">
    <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: 9pt; color: white"><B>Financial Indicators</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</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">&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: 9pt">Total operating revenue per ASM (TRASM) (cents) <SUB>(1)</SUB></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: 9pt">8.38 </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: 9pt">8.07 </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: 9pt">3.8% </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: 9pt">Average base fare per passenger</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: 9pt">49 </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: 9pt">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: 9pt">(7.9%)</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: 9pt">Total ancillary revenue per passenger <SUB>(3)</SUB></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: 9pt">48 </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: 9pt">38 </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: 9pt">25.7% </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: 9pt">Total operating revenue per passenger </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: 9pt">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: 9pt">92 </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: 9pt">6.1% </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: 9pt">Operating expenses per ASM (CASM) (cents) <SUB>(1)</SUB></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: 9pt">7.81 </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: 9pt">7.95 </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: 9pt">(1.7%)</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: 9pt">CASM ex fuel (cents) <SUB>(1)</SUB></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: 9pt">4.81 </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: 9pt">4.26 </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: 9pt">12.8% </FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">Adjusted CASM ex fuel (cents) <SUB>(1) (5)</SUB></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: 9pt">4.57 </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: 9pt">3.97 </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: 9pt">15.0% </FONT></TD></TR>
  <TR STYLE="background-color: #A03394">
    <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: 9pt; color: white"><B>Operating Indicators</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</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">&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: 9pt">Available seat miles (ASMs) (millions) <SUB>(1)</SUB></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: 9pt">38,890</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: 9pt">35,281</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: 9pt">10.2% </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: 9pt">&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: 9pt">25,630</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: 9pt">24,604</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: 9pt">4.2% </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: 9pt">&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: 9pt">13,260</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: 9pt">10,676</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: 9pt">24.2% </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: 9pt">Revenue passenger miles (RPMs) (millions) <SUB>(1)</SUB></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: 9pt">33,449</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: 9pt">30,191</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: 9pt">10.8% </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: 9pt">&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: 9pt">22,422</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: 9pt">21,623</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: 9pt">3.7% </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: 9pt">&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: 9pt">11,027</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: 9pt">8,569</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: 9pt">28.7%</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: 9pt">Load factor <SUB>(2)</SUB></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: 9pt">86.0%</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: 9pt">85.6%</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: 9pt">0.4 pp </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: 9pt">&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: 9pt">87.5%</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: 9pt">87.9%</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: 9pt">(0.4 pp)</FONT></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: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International</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: 9pt">83.2%</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: 9pt">80.3%</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: 9pt">2.9 pp </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: 9pt">Booked passengers (thousands) <SUB>(1)</SUB></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: 9pt">33,497 </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: 9pt">31,051 </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: 9pt">7.9% </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: 9pt">&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: 9pt">25,909</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: 9pt">25,043</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: 9pt">3.5% </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: 9pt">&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: 9pt">7,588</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: 9pt">6,007</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: 9pt">26.3% </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: 9pt">Departures <SUB>(1)</SUB></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: 9pt">201,376 </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: 9pt">193,050 </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: 9pt">4.3% </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: 9pt">Block hours <SUB>(1)</SUB></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: 9pt">523,761 </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: 9pt">494,475 </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: 9pt">5.9% </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: 9pt">Aircraft at the end of the 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: 9pt">129 </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: 9pt">117 </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: 9pt">12</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: 9pt">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: 9pt">13.37 </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: 9pt">13.28 </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: 9pt">0.7% </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: 9pt">Fuel gallons accrued (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: 9pt">372.2 </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: 9pt">340.1 </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: 9pt">9.5% </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: 9pt">Average economic fuel cost per gallon <SUB>(4)</SUB></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: 9pt">3.11 </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: 9pt">3.80 </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: 9pt">(18.0%)</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: 9pt">Average exchange rate</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: 9pt">17.76 </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: 9pt">20.12 </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: 9pt">(11.7%)</FONT></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: 9pt">Exchange rate at the end of the year</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: 9pt">16.89 </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: 9pt">19.36 </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: 9pt">(12.7%)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">*Each ADS represents ten CPOs and each CPO represents a financial interest in one Series A share</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: 7pt">(1) Includes schedule and charter.<BR>
(2) Includes schedule.<BR>
(3) Includes &#8220;Other passenger revenues&#8221; and &#8220;Non-passenger revenues&#8221;.<BR>
(4) Excludes Non-creditable VAT.<BR>
(5) Excludes fuel expense, aircraft and engine variable lease expenses and sale<BR>
and lease-back gains.</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">(6) The basic and diluted loss or earnings per share are calculated in<BR>
accordance with IAS 33. Basic loss or earnings per share is calculated by<BR>
dividing net loss or earnings by the average number of shares outstanding<BR>
(excluding treasury shares). Diluted loss or earnings per share is calculated by dividing net loss or earnings by the average number of shares outstanding<BR>
adjusted for dilutive effects.</FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 64 -->
    <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 -->64<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt 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 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">&nbsp;</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="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: 21%; border-top: #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>Three months ended December 31, 2023</B></FONT></TD>
    <TD STYLE="width: 21%; border-top: #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>Three months ended December 31, 2022</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: #A03394 1pt solid; border-right: #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>Variance</B></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: 9pt"><B>Operating revenues:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><B>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: 9pt"><B>865</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: 9pt"><B>792</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: 9pt"><B>9.2%</B></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: 9pt">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: 9pt">447</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: 9pt">470</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: 9pt">(4.9%)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">418</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: 9pt">322</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: 9pt">29.8%</FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><B>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: 9pt"><B>34</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: 9pt"><B>28</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: 9pt"><B>21.4%</B></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: 9pt">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: 9pt">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: 9pt">23</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: 9pt">21.7%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">6</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: 9pt">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: 9pt">20.0%</FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><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: 9pt"><B>899</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: 9pt"><B>820</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: 9pt"><B>9.6%</B></FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">(12)</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: 9pt">(7)</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: 9pt">71.4%</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: 9pt">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: 9pt">(14)</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: 9pt">34</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: 9pt">N/A</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">Fuel 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: 9pt">277</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: 9pt">343</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: 9pt">(19.2%)</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: 9pt">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: 9pt">137</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: 9pt">102</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: 9pt">34.3%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">101</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: 9pt">79</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: 9pt">27.8%</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: 9pt">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: 9pt">94</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: 9pt">84</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: 9pt">11.9%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">46</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: 9pt">32</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: 9pt">43.8%</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: 9pt">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: 9pt">45</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: 9pt">40</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: 9pt">12.5%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">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: 9pt">23</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: 9pt">4.3%</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: 9pt">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: 9pt">37</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: 9pt">30</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: 9pt">23.3%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><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: 9pt"><B>735</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: 9pt"><B>760</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: 9pt"><B>(3.3%)</B></FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><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: 9pt"><B>164</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: 9pt"><B>60</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: 9pt"><B>173.3%</B></FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">14</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: 9pt">7</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: 9pt">100.0%</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: 9pt">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: 9pt">(45)</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: 9pt">(55)</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: 9pt">(18.2%)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">Exchange (loss) gain, 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: 9pt">(4)</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: 9pt">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: 9pt">N/A</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: 9pt"><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: 9pt"><B>(35)</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: 9pt"><B>(38)</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: 9pt"><B>(7.9%)</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt"><B>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: 9pt"><B>129</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: 9pt"><B>22</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: 9pt"><B>486.4%</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">Income tax 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: 9pt">(17)</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: 9pt">(44)</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: 9pt">(61.4%)</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: 9pt"><B>Net income (loss)</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: 9pt"><B>112</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: 9pt"><B>(22)</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: 9pt"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</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">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&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"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 65 -->
    <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 -->65<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt 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 Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Consolidated Statement of Operations</P>

<P STYLE="font: 11pt 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 STYLE="background-color: #A03394">
    <TD STYLE="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: 21%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Twelve months ended December 31, 2023</B></FONT></TD>
    <TD STYLE="width: 21%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Twelve months ended December 31, 2022<BR>
(Audited)</B></FONT></TD>
    <TD STYLE="width: 12%; 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: 9pt; color: white"><B>Variance</B></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: 9pt"><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; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><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: 9pt"><B>3,123</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: 9pt"><B>2,739</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: 9pt"><B>14.0%</B></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: 9pt">&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: 9pt">1,650</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: 9pt">1,661</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: 9pt">(0.7%)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">&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: 9pt">1,473</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: 9pt">1,078</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: 9pt">36.6%</FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><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: 9pt"><B>136</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: 9pt"><B>108</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: 9pt"><B>25.9%</B></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: 9pt">&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: 9pt">116</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: 9pt">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: 9pt">24.7%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">&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: 9pt">20</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: 9pt">15</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: 9pt">33.3%</FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><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: 9pt"><B>3,259</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: 9pt"><B>2,847</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: 9pt"><B>14.5%</B></FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">(16)</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: 9pt">(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: 9pt">(36.0%)</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: 9pt">Fuel 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: 9pt">1,165</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: 9pt">1,299</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: 9pt">(10.3%)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">503</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: 9pt">379</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: 9pt">32.7%</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: 9pt">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: 9pt">387</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: 9pt">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: 9pt">36.7%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">362</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: 9pt">320</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: 9pt">13.1%</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: 9pt">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: 9pt">167</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: 9pt">124</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: 9pt">34.7%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">132</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: 9pt">103</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: 9pt">28.2%</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: 9pt">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: 9pt">104</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: 9pt">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: 9pt">(16.8%)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">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: 9pt">98</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: 9pt">0.0%</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: 9pt">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: 9pt">134</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: 9pt">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: 9pt">38.1%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><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: 9pt"><B>3,036</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: 9pt"><B>2,803</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: 9pt"><B>8.3%</B></FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt"><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: 9pt"><B>223</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: 9pt"><B>44</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: 9pt"><B>406.8%</B></FONT></TD></TR>
  <TR>
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">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: 9pt">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: 9pt">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: 9pt">192.3%</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: 9pt">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: 9pt">(219)</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: 9pt">(193)</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: 9pt">13.5%</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">Exchange (loss) gain, 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: 9pt">(34)</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: 9pt">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: 9pt">N/A</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: 9pt"><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: 9pt"><B>(215)</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: 9pt"><B>(176)</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: 9pt"><B>22.2%</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt"><B>Income (loss) 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: 9pt"><B>8</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: 9pt"><B>(132)</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: 9pt"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <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: 9pt">Income tax benefit</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: 9pt">0</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: 9pt">52</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: 9pt">(100.0%)</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: 9pt"><B>Net income (loss)</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: 9pt"><B>8</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: 9pt"><B>(80)</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: 9pt"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</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">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><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 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>


<!-- Field: Page; Sequence: 66 -->
    <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 -->66<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</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">&nbsp;</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>

<P STYLE="font: 11pt 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 STYLE="background-color: #A03394">
    <TD STYLE="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: 21%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Three months ended December 31, 2023</B></FONT></TD>
    <TD STYLE="width: 21%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Three months ended December 31, 2022</B></FONT></TD>
    <TD STYLE="width: 12%; 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: 9pt; color: white"><B>Variance</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; 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: 9pt">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: 9pt">418</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: 9pt">322</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: 9pt">29.8%</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">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: 9pt">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: 9pt">21.4%</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: 9pt"><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: 9pt"><B>452</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: 9pt"><B>350</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: 9pt"><B>29.1%</B></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: 9pt">Booked passengers (thousands) <SUB>(1)</SUB></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: 9pt">8,247</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: 9pt">8,475</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: 9pt">(2.7%)</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: 9pt"><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: 9pt"><B>55</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: 9pt"><B>41</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: 9pt"><B>32.5%</B></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>
    <TD COLSPAN="4" STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">(1) Includes schedule and charter.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</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 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: 9pt Arial, Helvetica, Sans-Serif; margin: 0">The following table shows additional detail about the components of total
ancillary revenue for the full year 2023:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></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="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: 21%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Twelve months ended December 31, 2023</B></FONT></TD>
    <TD STYLE="width: 21%; border-top: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Twelve months ended December 31, 2022<BR>
(Audited)</B></FONT></TD>
    <TD STYLE="width: 12%; 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: 9pt; color: white"><B>Variance</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; 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: 9pt">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: 9pt">1,473</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: 9pt">1,078</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: 9pt">36.6%</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: 9pt">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: 9pt">136</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: 9pt">108</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: 9pt">25.9%</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: 9pt"><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: 9pt"><B>1,609</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: 9pt"><B>1,186</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: 9pt"><B>35.7%</B></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: 9pt">Booked passengers (thousands) <SUB>(1)</SUB></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: 9pt">33,497</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: 9pt">31,051</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: 9pt">7.9%</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: 9pt"><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: 9pt"><B>48</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: 9pt"><B>38</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: 9pt"><B>25.7%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <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>
    <TD COLSPAN="4" STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">(1) Includes schedule and charter.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 67 -->
    <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 -->67<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<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>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: 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 STYLE="background-color: #A03394">
    <TD STYLE="width: 56%; 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>(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; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>As of December 31, 2023<BR>
(Unaudited)</B></FONT></TD>
    <TD STYLE="width: 22%; 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: 9pt; color: white"><B>As of December 31, 2022 <BR>
(Audited)</B></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: 9pt"><B><I>Assets</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">774</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: 9pt">712</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: 9pt">Short-term investments</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: 9pt">15</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: 9pt">-</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Total cash, cash equivalents, restricted cash, and short-term investments <SUP>(1)</SUP></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: 9pt"><B>789</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: 9pt"><B>-</B></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: 9pt">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: 9pt">251</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: 9pt">240</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">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: 9pt">16</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: 9pt">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: 9pt">44</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: 9pt">33</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Assets held-for-sale</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: 9pt">-</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: 9pt">1</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: 9pt">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: 9pt">148</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: 9pt">64</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><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: 9pt"><B>1,248</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: 9pt"><B>1,066</B></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: 9pt">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: 9pt">805</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: 9pt">479</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">2,353</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: 9pt">2,181</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: 9pt">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: 9pt">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: 9pt">13</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">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: 9pt">2</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: 9pt">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: 9pt">236</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: 9pt">208</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">462</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: 9pt">484</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: 9pt">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: 9pt">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: 9pt">36</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><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: 9pt"><B>3,913</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: 9pt"><B>3,403</B></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: 9pt"><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: 9pt"><B>5,161</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: 9pt"><B>4,469</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B><I>Liabilities and equity</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt">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: 9pt">343</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: 9pt">346</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">250</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: 9pt">209</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: 9pt">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: 9pt">163</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: 9pt">190</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">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: 9pt">336</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: 9pt">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: 9pt">262</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: 9pt">218</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">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: 9pt">6</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: 9pt">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: 9pt">220</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: 9pt">112</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">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: 9pt">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: 9pt"><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: 9pt"><B>1,621</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: 9pt"><B>1,422</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">433</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: 9pt">161</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: 9pt">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: 9pt">14</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: 9pt">13</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">2,533</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: 9pt">2,373</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: 9pt">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: 9pt">286</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: 9pt">244</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">15</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: 9pt">11</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: 9pt">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: 9pt">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: 9pt">10</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><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: 9pt"><B>3,297</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: 9pt"><B>2,812</B></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: 9pt"><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: 9pt"><B>4,918</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: 9pt"><B>4,234</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B><I>Equity</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&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: 9pt">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: 9pt">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: 9pt">248</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">(12)</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: 9pt">(13)</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: 9pt">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: 9pt">-</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: 9pt">-</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">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: 9pt">17</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: 9pt">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: 9pt">282</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: 9pt">283</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">(148)</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: 9pt">(156)</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: 9pt">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: 9pt">(144)</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: 9pt">(144)</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"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><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: 9pt"><B>243</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: 9pt"><B>235</B></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: 9pt"><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: 9pt"><B>5,161</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: 9pt"><B>4,469</B></FONT></TD></TR>
  <TR STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; border-left: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: #A03394 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</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">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">(1) Non-GAAP measure.</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 68 -->
    <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 -->68<!-- 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><P STYLE="margin-top: 0; margin-bottom: 0">Ticker: VLRS </P></TD><TD STYLE="text-align: right">Quarter: 4 Year: 2023</TD></TR></TABLE><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<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>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: 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 STYLE="background-color: #A03394">
    <TD STYLE="width: 60%; 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: 9pt; color: white"><B>Unaudited<BR>
(In millions of U.S. dollars)</B></FONT></TD>
    <TD STYLE="width: 20%; 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: 9pt; color: white"><B>Three months ended December 31, 2023</B></FONT></TD>
    <TD STYLE="width: 20%; 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: 9pt; color: white"><B>Three months ended December 31, 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; 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 STYLE="background-color: #D8D8D8">
    <TD STYLE="white-space: nowrap; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Net cash flow provided by operating 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: 9pt">218</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: 9pt">168</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">(113)</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: 9pt">(104)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; 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: 9pt">Net cash flow used in financing 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: 9pt">(82)</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: 9pt">(102)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Increase (decrease) 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: 9pt"><B>23</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: 9pt"><B>(38)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; 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: 9pt">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: 9pt">2</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: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">749</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: 9pt">750</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; 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: 9pt"><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: 9pt"><B>774</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: 9pt"><B>712</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">*Includes aircraft rental payments of $139 million and $117 million for the three months ended December 31, 2023, and 2022, respectively.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><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; 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: 11pt 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 STYLE="background-color: #A03394">
    <TD STYLE="width: 60%; 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: 9pt; color: white"><B>Unaudited<BR>
(In millions of U.S. dollars)</B></FONT></TD>
    <TD STYLE="width: 20%; 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: 9pt; color: white"><B>Twelve months ended December 31, 2023</B></FONT></TD>
    <TD STYLE="width: 20%; 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: 9pt; color: white"><B>Twelve months ended December 31, 2022<BR>
(Audited)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; 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; 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: 9pt">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: 9pt">730</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: 9pt">614</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">(462)</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: 9pt">(131)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; 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: 9pt">Net cash flow used in financing 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: 9pt">(214)</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: 9pt">(513)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Increase (decrease) 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: 9pt"><B>54</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: 9pt"><B>(30)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; 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: 9pt">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: 9pt">8</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: 9pt">1</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: #A030A0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">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: 9pt">712</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: 9pt">741</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; 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: 9pt"><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: 9pt"><B>774</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: 9pt"><B>712</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">*Includes aircraft rental payments of $529 million and $449 million for the twelve months ended December 31, 2023, and 2022, respectively.</FONT></TD></TR>
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