Boardof Directors

Mr. de Arrigunaga has served as the chairman of our board since 2015 and has been a director since 2007. Mr. de Arrigunaga is also a member of our executive committee since 2007, our nomination and compensation committee since 2015, and our safety committee since 2022. He is the managing director of Xokan S.C., a financial advisory firm, a director and chairman of the audit committee of El Puerto de Liverpool S.A. de C.V. (BMV: LIVERPOL), Mexico’s largest department store since 2019, and a director and chairman of the nominations and compensation committee of Gentera S.A.B. de C.V. (BMV: GENTERA), the largest microfinance bank of Latin America, since 2015. Additionally, he is a director of Dine S.A.B. de C.V. (BMV:DINEA), and Kuo S.A.B. de C.V. (Grupo DESC) (BMV:KUOB), a large industrial and resort development Mexican conglomerate, since 2019. He is also a member of the technical committee of Casa de Bolsa GBM S.A. de C.V., a leading brokerage firm in Mexico, since 2021. He has been a member of the governing body of the Universidad Iberoamericana A.C., his Alma Mater, since 2012, and the director of the Mexican Bankers Club (Club de Banqueros) in Mexico City, since 2013. He is also a founding partner and director of Prestanómico S.A.P.I. de C.V., a fintech company specialized in lending as a service, since 2016. Previously, Mr. de Arrigunaga was a senior advisor to the Canada Pension Plan Investment Fund between 2019 to 2022, and to Lazard México, a financial advisory entity between 2017 to 2023. Mr. de Arrigunaga was also the chairman of the Mexican Banking Association (Asociación de Bancos de México) from 2013 to 2014. He was the chief executive officer of Citi Banamex, a leading Mexican bank, from 2010 to 2014, where he also held several senior positions. He was a member of the Citigroup management committee from 2011 to 2014. Before joining Citi Banamex, Mr. de Arrigunaga was the Mexican ambassador to the Organization for Economic Cooperation and Development (“OECD”) in Paris, France. Prior to his time in the OECD, he had a 15-year-long career at the Mexican Central Bank where he held different positions, including head of regulations and general counsel. He played an instrumental role in the design, drafting and debates with congress for the passage of the constitutional reform to grant the Mexican Central Bank independence. Mr. de Arrigunaga was also the project manager for the implementation of the of the monetary unit substitution, which eliminated three zeros to the currency. He was one of the six-member government delegation, led by the minister of finance, responsible for negotiating the rescue package of the Mexican economy with the U.S. Treasury during the macroeconomic crisis of 1995. He was appointed chief executive officer of the deposit insurance agency from 1997 to 1998, and in that capacity, and as senior manager of the Mexican Central Bank, he played an important role in the management and solution of the banking crisis of 1995. He has been a member of the board of several companies and institutions, including the Mexican Stock Exchange from 2008 to 2010, Grupo Financiero Banamex S.A. de C.V. from 2010 to 2014, Casa de Bolsa Accival S.A. de C.V. from 2010 to 2014, and the Mexican Banking and Securities Commission from 1993 to 1997. Additionally, since 2008, Mr. de Arrigunaga has been on the advisory board of the philanthropic organizations, Haciendas for the Mayan World Foundation (Fundación Haciendas del Mundo Maya), a foundation that fosters community development in the Yucatan Peninsula, and the Independent Cow Foundation (La Vaca Independiente), an organization devoted to education and environmental conservation. He is a founding member and was chairman of the governing body of the Interactive Museum of Economy (MIDE) between 2006 and 2010. Mr. de Arrigunaga holds a law degree from the Universidad Iberoamericana in Mexico City, Mexico and a Master of Laws (LLM) specialized in corporate law and finance from Columbia University in New York, New York.

Mr. Borrego has served as a member of our board since 2022. Since December 2023, Mr. Borrego has served as CEO and co-portfolio manager of Catena Activos Alternativos, a recently created company that was established by Mr. Borrego and members of the management team of Credit Suisse’s Mexico asset management business from the spin-off of funds managed by such team. Prior to Catena Activos, Mr. Borrego served as chief executive officer and co-portfolio manager of the Mexico Credit Opportunities Funds since 2012 and was the head of the asset management business of Credit Suisse in Mexico. As chief executive officer and co-portfolio manager of Mexico Credit Opportunities Funds, Mr. Borrego served on the board of several public and private portfolio companies. From 2009 to 2011, Mr. Borrego was the co-head of Credit Suisse’s fixed income emerging markets business for Latin America (excluding Brazil) and was the country head for Credit Suisse in Mexico. Mr. Borrego obtained a degree in Industrial Engineering from Universidad Iberoamericana in Mexico City.

Mr. Cosío has served on our board of directors since 2007. Mr. Cosío is also a member of our nomination and compensation committee. Mr. Cosío currently is a member of the board of directors of Cintra S.A. de C.V., Corporación Actinver (BMV: ACTINVRB) since 2010, Kimberly Clark, S.A.B. de C.V., Grupo Sanborns (BMV: GSANBORN) since 2013, America Móvil (BMV: AMX) since 2015, Carso Infraestructura y Construccion, Inmuebles Carso S.A.B. de C.V., and Grupo Financiero Inbursa (BMV: GFINBUR) since 2018 and is a member of the technical committee of Fibra SOMA. Mr. Cosío served as the president of the board of directors of Grupo Financiero Inbursa between 2006 and 2017, vice chairman of Grupo Hotelero Brisas, vice chairman of La Suiza S.A. de C.V. and president of the board of directors of Teléfonos de México (BMV: TELMEX). He also served as a member of the board of directors of Corp Moctezuma (BMV: CMOCTEZ) until 2007, Grupo Carso (BMV: GCARSO), Sanluis Corporation (currently known as Rassini, S.A.B. de C.V.) and Compañía Industrial Tepeji del Rio. He studied industrial engineering at Instituto Tecnológico de Monterrey, or ITESM.

Mr. de la Calle has served on our board of directors since 2008. Currently, he is a member of our audit and corporate governance committee since 2005. Mr. de la Calle founded De la Calle, Madrazo, Mancera, SC, a consulting firm specializing in economics, regulatory processes and international trade in 2004 and has been its managing director since its founding. Mr. de la Calle has been also a member of the board of directors of Corporación Inmobiliaria Vesta (BMV: VESTA) since 2012. He was a member of the board of directors of Electricity Federal Commission (Comisión Federal de Electricidad) between 2015 and 2022 and served as chairman of its audit committee on several occasions. In addition, Mr. de la Calle previously held the following positions: president of Hill & Knowlton Strategies’ Latin America group between 2011 and 2012; non-executive director of the Mexican Institute for Competitiveness between 2002 and 2021; vice chairman of the U.S.-Mexico Bilateral Committee of the Mexican Council on Foreign Trade between 2003 and 2016; vice chairman of the International Trade and Investment Committee of the International Chamber of Commerce between 2009 and 2016; and non-executive director of Grupo Modelo between 2005 and 2013 and a member of the independent North American working group of the Council on Foreign Relations, the Canadian Council of Chief Executives and the Mexican Council on Foreign Relations in 2005. Prior to his work in the private sector, Mr. de la Calle was undersecretary for international trade negotiations at the Mexican Ministry of Economy between 1999 and 2002; minister for Commercial Affairs at the Mexican Embassy in Washington, D.C between 1994 and 1998; and worked at the World Bank between 1989 and 1994. Mr. de la Calle holds a B.A. in Economics from the ITAM, and received his M.A. and Ph.D. degrees in economics from the University of Virginia.

Mr. Diez Morodo has served as a member of our board of directors since 2008. He is the chairman and chief executive officer of Consorcio Empresarial Dimova, S.A. de C.V.; chairman of the board of Consorcio Dimova España, S.L.; chairman of Deportivo Toluca Fútbol Club, A.C.; chairman of Grupo Nevadi Internacional, S.A. de C.V.; and chairman of Nilaya Properties, S.L. (the entity that owns the Rosewood Villa Magna Hotel in Madrid). He also serves as a member of the board of directors of Maestro Tequilero, S.A. de C.V., Zara México, S.A. de C.V., Grupo Dine, S.A.B. de C.V. (BMV: DINE), Grupo Kuo, S.A.B. de C.V. (BMV: KUO) and Instituto de Empresa, Madrid. He is chairman of the advisory board of Grupo Modelo, S.A. de C.V. member of Ab InBev Group (BMV: ANB), and vice chairman and member of the compensation committee of Kimberly Clark de Mexico, S.A.B. de C.V. (BMV: KIMBER). Mr. Diez Morodo is an honorary chairman of Grupo Financiero Citibanamex, chairman of the Mexican Business Council for Foreign Trade, Investment and Technology (Consejo Empresarial Mexicano de Comercio Exterior, Inversión y Tecnología), or COMCE, and serves as chairman of the Mexico-Spain Bilateral Committee of COMCE. He is the chairman of the Mexican Institute for Competitiveness, A.C. (Instituto Mexicano para la Competitividad), or IMCO, and chairman of the assembly of associates of the Universidad Iberoamericana. Mr. Diez Morodo also holds the following positions: member of the Mexican Business Council (Consejo Mexicano de Negocios), or CMN and chairman of the Mexican House in Spain Foundation (Fundación Casa de México en España). Mr. Diez Morodo is the chairman of Diez Morodo Foundation (Fundación Diez Morodo); chairman of Nemesio Diez Foundation (Spain) (Fundación Nemesio Diez); vice chairman of Maelva Foundation (Fundación Maelva) and a member of the Prado Museum Foundation (Fundación Museo del Prado). Mr. Diez Morodo holds a degree in business administration from the Universidad Iberoamericana and a postgraduate degree in marketing, sales and personnel management from the University of Michigan.

Mr. Esteve has served as a member of our board of directors since 2007. Mr. Esteve is a member of our safety committee. He has been a shareholder and member of the executive committee of ECOM Agroindustrial, a leading global trader of agribusiness commodities and sustainable supply chain management. Mr. Esteve has been the chairman of Grupo IAMSA since 1997. Mr. Esteve has also been a member of the CMN since 2010, where he currently is the vice-president and is responsible for its international relations committee. Mr. Esteve has been a member of the boards of directors of several companies and non-profits, including the following: Telmex, since 2002; Grupo Real Turismo, since 2000; and Latin America Conservation Council since 2014. Mr. Esteve holds a business administration degree from the Universidad Anáhuac in Mexico City and an MBA from the Kellogg Graduate School of Management.

Mr. Ignaschenko has been a member of our board of directors since 2022. He has been a partner at Apollo (NYSE: APO), based in New York City, since 2011. Mr. Ignaschenko is also a member of the boards of directors of the following companies: Jewel HoldCo S.a.r.l. since 2018; Novolex since 2022; Donlen since 2021; and Athene Holding Ltd. (NYSE: ATHS) since 2024. Mr. Ignaschenko previously served as a member of the board of directors of Tranquilidade, a large Portuguese insurance company, between 2017 and 2020. Prior to joining Apollo, Mr. Ignaschenko worked with Credit Suisse in the investment banking division from 2009 to 2011. Mr. Ignaschenko holds a bachelor’s degree in economics from Wharton School of the University of Pennsylvania.

Mr. Moak has served as a member of our board of directors since 2022. Currently, he is the chairman of the safety and security committee and a member of our audit and corporate governance committee. As an aviation safety, government policy and labor expert, Mr. Moak serves on the FAA’s Advanced Aviation Advisory Committee, or AAAC, since 2020, and was co-chair of the DOT’s special committee to review the FAA’s aircraft certification process between 2019 and 2020. Mr. Moak was a member of the board of governors of the United States Postal Service, from 2019 to 2023, the chairman of its corporate governance committee and a member of its audit and finance committee. Mr. Moak was the chairman of the Delta Airlines Pilots from 2005 to 2010 and oversaw the merger and integration with Northwest Airlines in 2008. He was the chief executive officer and president of the Air Line Pilots Association International, or ALPA, from 2010 to 2014. Mr. Moak served on the FAA’s Management Advisory Council, or MAC, between 2013 and 2017. He was a member of the Executive Council of the American Federation of Labor and Congress of Industrial Organizations, or AFL-CIO, between 2011 and 2015, and the chairman of the Financial Oversight Committee of the AFL-CIO Transportation Trades Department from 2011 to 2015. He served on the FAA’s Next Generation Advisory Committee from 2010 to 2014. Mr. Moak serves on the board of directors of the International Aviation Club of Washington. Previously, Mr. Moak was a Marine Corps and Navy fighter pilot and a captain for Delta’s B-767 aircraft. Mr. Moak holds a bachelor’s degree from the University of West Florida.

Mr. Munfakh has served as a member of our board of directors since 2022. Mr. Munfakh is also a member of our executive committee and our nomination and compensation committee. Mr. Munfakh has been a partner at Apollo since 2008, specializing in aviation, industrials, transportation and logistics investments. Mr. Munfakh has also served on the boards of directors of the following companies: Atlas Air Worldwide Holdings, Inc. since 2023; Volotea Airlines since 2018; Blume Global, Inc. since 2019; Apollo Education Group since 2017; and Maxim Crane Works since 2016. Mr. Munfakh is a former member of the boards of directors of the following companies: Blume Global Inc. from 2019 to 2023; Sun Country Airlines (NASDAQ: SNCY), from 2018 to 2022; Direct ChassisLink Inc., from 2019 to 2022; Swissport, from 2020 to 2021; CH2M Hill, from 2015 to 2017; and McGraw-Hill Education, from 2013 to 2020. Prior to that, he was an associate at Court Square Capital Partners between 2006 and 2008 and an analyst at JPMorgan Chase and Co. (NYSE: JPM). Mr. Munfakh holds a graduate degree in economics from Duke University. Mr. Munfakh was listed by M&A Advisor magazine in its ninth annual Emerging Leaders Award in 2018 and by Private Equity International in its Future 40 list of leaders in 2021.

Mr. Vilches has served as a member of our board of directors since 2022. Currently, he is a member of our safety committee and of our nomination and compensation committee. He has been a partner of Renaissance Executive Forums, with experience in the tourism and hospitality industry. He has served as an advisory member of BridgeWhat’s board of directors since 2022. Mr. Vilches served as senior vice president of airlines with Sabre Technologies (NASDAQ-GS: SABR) between 2017 and 2020 and was commercial director of Alitalia between 2016 and 2017. Previously, Mr. Vilches held the following roles: president and chief executive officer of Pullmantur Group between 2014 and 2016; head of LATAM’s long haul business unit between 2012 and 2014; and chief executive officer of LAN Peru between 2007 and 2012 and of LAN Express between 2006 and 2007. He also served as a business analyst, associate and senior associate at A.T. Kearny Management Consultants between 1998 and 2004. Mr. Vilches holds a bachelor’s degree in industrial engineering from Pontificia Universidad Javeriana and an MBA from the University of Michigan Business School.

Mr. Tricio Haro has been a member of our board of directors since 2008. Mr. Tricio Haro also serves as the chair of our executive committee. He has been the chairman of the board of directors of Grupo LALA (BMV: LALA B) and of Grupo Industrial Nuplen. He has also been a member of the board of directors of Grupo Televisa (NYSE: TV) since 2012, Orbia since 2008, Banamex since 2008, and Aura Solar since 2013, as well as a member of the board of the Mexican Stock Exchange, the Grupo Porres, and the Grupo Industrial Saltillo. He has chaired the LALA Foundation and SER (Superación Excelencia y Resultados), which focuses on bringing quality education to economically disadvantaged children. He serves as a member of the following boards of directors: Federico Gómez Children Hospital since 2008; the National Institute of Medical Sciences, the Mexican Business Council the Princess of Asturias Foundation, and the Monterrey Institute of Technology (ITESM). He has also been a member of the ITESM since 2000; as well as of other industry associations and social and philanthropic organizations. Mr. Tricio Haro is also a dairy farmer, and holds a degree in agricultural engineering from ITESM.

Mr. Conesa serves as our chief executive officer since 2005 and has been a member of our board of directors since 2004. He is also a member of our executive committee and our safety committee. In 2023, Mr. Conesa was appointed as the chairman of the SkyTeam alliance. Additionally, he has served on the board of directors of Sempra Energy (NYSE: SRE) since 2017 and was chairman and a member of the board of directors of Cintra between 2003 and 2005. Mr. Conesa was also the chairman of the board of IATA during IATA’s 2015 term and the chairman of the executive committee of ALTA between 2013 and 2015. He also served as a member of the IEnova board from 2013 to 2017, as well as a member of the Mexican Stock Exchange board from 2006 to 2007. He previously served as a member of the following boards of directors: SkyTeam, Aeromexpress, and Aeroméxico Servicios. Mr. Conesa has held several significant government positions, including as general economic planning director and head of the public debt management, from 2003 to 2004, and international economic affairs general director of the Ministry of Finance, from 1998 to 2000, and coordinator of advisors, from 1997 to 1998, of the Mexican Ministry of Finance (Secretaría de Hacienda y Crédito Público). Mr. Conesa holds a B.A. degree in economics from Instituto Tecnológico Autónomo de México, or ITAM, and a Ph.D. degree in economics from the Massachusetts Institute of Technology, or MIT. Mr. Conesa has received Fulbright, Ford and MacArthur scholarships. In 1997, Mr. Conesa was awarded the National Economics Prize, granted by Banamex.