Amendment: SEC Form SCHEDULE 13D/A filed by Controladora Vuela Compania de Aviacion S.A.B. de C.V.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
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Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (Name of Issuer) |
Series A Common Stock (Title of Class of Securities) |
21240E105 (CUSIP Number) |
William A. Franke c/o Indigo Partners LLC, 2525 E. Camelback Road, Suite 900 Phoenix, AZ, 85016 602-224-1500 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
12/18/2025 (Date of Event Which Requires Filing of This Statement) |

SCHEDULE 13D
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| CUSIP No. | 21240E105 |
| 1 |
Name of reporting person
Long Bar LatAM LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 11 | Aggregate amount beneficially owned by each reporting person
182,575,660.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
| 13 | Percent of class represented by amount in Row (11)
15.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
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| CUSIP No. | 21240E105 |
| 1 |
Name of reporting person
Indigo Mexico Cooperatief U.A. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
NETHERLANDS
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
182,575,660.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
| 13 | Percent of class represented by amount in Row (11)
15.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
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| CUSIP No. | 21240E105 |
| 1 |
Name of reporting person
Indigo LatAm LP | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
| 6 | Citizenship or place of organization
CAYMAN ISLANDS
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
182,575,660.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
| 13 | Percent of class represented by amount in Row (11)
15.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
PN |
SCHEDULE 13D
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| CUSIP No. | 21240E105 |
| 1 |
Name of reporting person
Long Bar LatAm II LP | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
| 6 | Citizenship or place of organization
CAYMAN ISLANDS
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
182,575,660.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
| 13 | Percent of class represented by amount in Row (11)
15.7 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
PN |
SCHEDULE 13D
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| CUSIP No. | 21240E105 |
| 1 |
Name of reporting person
Indigo Mexico LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
30,000,000.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
| 13 | Percent of class represented by amount in Row (11)
2.6 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
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| CUSIP No. | 21240E105 |
| 1 |
Name of reporting person
FRANKE WILLIAM A | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 11 | Aggregate amount beneficially owned by each reporting person
212,575,660.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
| 13 | Percent of class represented by amount in Row (11)
18.2 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
SCHEDULE 13D
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| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
Series A Common Stock | |
| (b) | Name of Issuer:
Controladora Vuela Compania de Aviacion, S.A.B. de C.V. | |
| (c) | Address of Issuer's Principal Executive Offices:
Av. Antonio Dovali Jaime No. 70, 13 Floor Tower B, Colonia Zedec Santa Fe, Mexico City,
MEXICO
, 01210. | |
Item 1 Comment:
Explanatory Note
This Amendment No. 1 to Schedule 13D ("Amendment No. 1") amends and supplements the Schedule 13D originally filed with the United States Securities and Exchange Commission (the "SEC") on February 16, 2021 (as amended to date, the "Schedule 13D"), relating to the Series A Common Stock (the "Series A Common Stock"), of Controladora Vuela Compania de Aviacion, S.A.B. de C.V., a sociedad anonima bursatil de capital variable organized under the laws of the United Mexican States (the "Issuer"). Capitalized terms used herein without definition shall have the meanings set forth in the Schedule 13D. | ||
| Item 4. | Purpose of Transaction | |
Board Representatives
Brian Franke, a principal at Indigo Partners LLC, and Andrew Broderick, a Managing Director of Indigo Partners LLC, are each affiliated with the Reporting Persons and serve as members of the Issuer's board of directors.
Voting and Support Agreement
On December 18, 2025, the Issuer and Grupo Viva Aerobus, S.A. de C.V. ("PrivateCo") entered into a business combination agreement (the "Business Combination Agreement"), pursuant to which, among other things, (i) PrivateCo will be merged with and into the Issuer, (ii) the separate corporate existence of PrivateCo will thereupon cease and (iii) the Issuer will continue as the surviving entity (the "Merger").
In connection with the signing of the Business Combination Agreement, on December 18, 2025, the Reporting Persons entered into a voting and support agreement with PrivateCo and the Issuer (the "Voting and Support Agreement"), with respect to all shares of the Issuer's Class I or Class II Series A Common Stock, whether held directly or through Ordinary Participation Certificates ("CPOs") or American Depositary Shares ("ADSs"), beneficially owned by the Reporting Persons and their respective affiliates, as set forth in the schedule to the Voting and Support Agreement (the "Owned Shares"), as well as any additional securities acquired by the Reporting Person or their respective affiliates prior to the consummation of the Merger (the "Additional Owned Shares," and together with the Owned Shares, the "Covered Shares").
Pursuant to the Voting and Support Agreement, the Reporting Persons have irrevocably and unconditionally agreed to, among other things, prior to the valid termination of the Voting and Support Agreement, (a) appear at each applicable meeting of the Issuer's shareholders or otherwise cause all Covered Shares to be counted as present thereat for purposes of calculating a quorum and (b) vote (or cause to be voted) all Covered Shares, or, in lieu of a meeting, execute and deliver a written consent (or cause a written consent to be executed and delivered), covering all Covered Shares: (i) in favor of the adoption, approval and authorization of the Business Combination Agreement, the Merger and the other transactions contemplated by the Business Combination Agreement; (ii) in favor of any adjournment or postponement recommended by the Issuer with respect to such shareholder meeting; (iii) against any Acquisition Proposal (as defined in the Business Combination Agreement), except as otherwise permitted under the Business Combination Agreement; (iv) against any other business combination agreement or merger, consolidation, sale of substantial assets, reorganization, recapitalization, dissolution, liquidation or winding up of or by the Issuer, in each case except as consented to by PrivateCo or as expressly permitted by the Business Combination Agreement; and (v) against any proposal, action or agreement submitted to the Issuer's shareholders that is intended to (A) materially impede, frustrate, interfere with, delay, postpone, prevent or otherwise impair the Merger or the other transactions contemplated by the Business Combination Agreement or (B) result in any of the conditions set forth in Article VII of the Business Combination Agreement not being fulfilled.
In addition, except as specifically permitted by the Voting and Support Agreement, the Reporting Persons agreed to not, directly or indirectly, prior to the valid termination of the Voting and Support Agreement, (i) offer to Transfer (as defined in the Voting and Support Agreement), Transfer or consent to any Transfer of any or all of the Covered Shares or the beneficial ownership thereof without the prior written consent of the Issuer and PrivateCo, (ii) enter into any contract, option or other agreement or understanding with respect to any Transfer of any or all Covered Shares or any beneficial ownership thereof, (iii) tender any Covered Shares into any tender or exchange offer, (iv) deposit any or all of the Covered Shares into a voting trust or enter into a voting agreement or arrangement with respect to any or all of the Covered Shares, (v) grant any proxy, power-of-attorney or other authorization or consent in or with respect to any or all of the Covered Shares that is inconsistent with the voting agreements described above, or (vi) commit or agree to take any of the foregoing actions.
The Voting and Support Agreement will terminate upon the earliest of, among other occurrences: (i) the adoption, approval and authorization of the Business Combination Agreement, the Merger and the other transactions contemplated by the Business Combination Agreement, (ii) the valid termination of the Business Combination Agreement, (iii) the mutual written agreement of the parties to terminate the Voting and Support Agreement, (iv) at the sole election of the Reporting Persons following any amendment or modification to the Business Combination Agreement, Shareholders Agreement (as defined in the Business Combination Agreement), the bylaws of the Issuer following the Merger or the other documents contemplated by the Business Combination Agreement or Merger that is detrimental to the Issuer or the Reporting Persons and to which the Reporting Persons did not provide written consent or (e) at the sole election of the Reporting Persons following an adverse change in the Reporting Persons' position with respect to the Issuer following the Merger, including, but not limited to, dilution of the Reporting Persons' ownership in the Issuer following the Merger and change in the Reporting Persons' governance rights.
The foregoing description of the Voting and Support Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such agreement, which is attached as an exhibit to this Schedule 13D and incorporated herein by reference. | ||
| Item 5. | Interest in Securities of the Issuer | |
| (a) | The ownership information presented herein represents beneficial ownership of Series A Common Stock as of the date hereof, based on 1,165,976,677 shares of Series A Common Stock outstanding as of December 18, 2025, as provided by the Issuer.
Pursuant to the Issuer's bylaws, the Series A Common Stock can only be owned directly by Mexican individuals or entities controlled by Mexican individuals. As a result, the Reporting Persons hold their Series A Common Stock through Ordinary Participation Certificates ("CPOs") or ADSs. The Reporting Persons do not have the right to vote the ADSs or CPOs.
The amount of securities beneficially owned includes:
(i) 135,974,070 shares of Series A Common Stock (deposited in the CPO trust) held of record by Indigo LatAm LP;
(ii) 4,229,270 shares of Series A Common (deposited in the CPO trust) held of record by Long Bar LatAm, LLC;
(iii) 178,220 shares of Series A Common Stock (deposited in the CPO trust) held of record by Long Bar LatAm II LP;
(iv) 42,194,100 shares of Series A Common Stock (deposited in the CPO trust) held of record by Indigo Mexico Cooperatief U.A.; and
(v) 30,000,000 shares of Series A Common Stock underlying 3,000,000 ADSs held of record by Indigo Mexico LLC.
In addition, each of Indigo LatAm LP, Long Bar LatAm, LLC, Long Bar LatAm II LP and Indigo Mexico Cooperatief U.A. is the beneficial owner of approximately 15.7% of the outstanding Series A Common Stock. Indigo Mexico LLC is the beneficial owner of approximately 2.6% of the outstanding Series A Common Stock. Mr. Franke is the beneficial owner of approximately 18.2% of the outstanding Series A Common Stock.
William A. Franke is the managing member of a fund that is the general partner of Indigo Mexico Cooperatief U.A, and is the indirect manager of the funds of Long Bar LatAm, LLC, Indigo LatAm LP, Long Bar LatAm II LP, and Indigo Mexico LLC, and as such, he may be deemed to have voting and dispositive power over the securities reported herein. Mr. Franke disclaims any such beneficial ownership. | |
| (b) | The information presented on the cover pages herein are incorporated by reference into this Item 5(b). | |
| (c) | Except as otherwise disclosed in this Amendment No. 1, during the past 60 days, none of the Reporting Persons effected any transactions in the Series A Common Stock. | |
| (d) | None. | |
| (e) | Not applicable. | |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer | |
Item 4 above summarizes certain provisions of the Voting and Support Agreement and is incorporated herein by reference. A copy of the Voting and Support Agreement is attached as an exhibit to this Schedule 13D, and is incorporated herein by reference. | ||
| Item 7. | Material to be Filed as Exhibits. | |
Exhibit 99.1: Voting and Support Agreement, dated December 18, 2025. | ||
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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(a)