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Glossary

Aircraft utilization: Average number of block hours per day per aircraft operated.

Available Seat Kilometers (ASK): Number of aircraft seats multiplied by the number of kilometers flown.

Completion fator: Percentage of accomplished flights.

Cost per ASK (CASK): Operating expenses divided by available seat kilometers.

Cost per ASK ex-fuel (CASK ex-fuel): Operating expenses divided by available seat kilometers excluding fuel expenses.

EBITDAR: Earnings before interest, taxes, depreciation, amortization, and aircraft rent. A common metric used in the airline industry to measure operating performance.

Load Factor: Number of passengers as a percentage of number of seats flown (calculated by dividing RPK by ASK).

Revenue Passenger Kilometers (RPK): One-fare paying passenger transported one kilometer. RPK is calculated by multiplying the number of revenue passengers by the number of kilometers flown.

Passenger Revenue per Available Seat Kilometer (PRASK): Passenger revenue divided by available seat kilometers (also equal to load factor multiplied by yield).

Revenue per ASK (RASK): Operating revenue divided by available seat kilometers.

Stage Length: The average number of kilometers flown per flight

Trip Cost: Average cost of each flight calculated by dividing total operating expenses by total number of departures.

Yield: Average amount paid per passenger to fly one kilometer. Usually, yield is calculated as passenger revenue divided by revenue passenger kilometers (RPK).