General Terms
Aircraft utilization : Represents the average number of block hours operated per day per aircraft for the total aircraft fleet.
ATF : Aviation Turbine Fuel.
Available Seat Kilometers, or ASKM : Represents the aircraft seating capacity multiplied by the number of kilometres the seats are flown.
Average stage length : Represents the average number of kilometres flown per flight.
Block hours : Refers to the elapsed time between an aircraft leaving an airport gate and arriving at an airport gate. Breakeven load factor : Represents the Passenger Load Factor that will result in Net Passenger Revenues being equal to Total Expenses less cargo and Non-operating Revenues.
Cargo tonnage : The total cargo carried on an aircraft expressed in metric tons.
Cost per ASKM : Represents total cost less cargo revenue net of commissions, excess baggage, other income and non-operating revenue including interest income, divided by the ASKMs.
CRS : Computerized Reservation System.
CRS costs : Cost paid to CRS service provider.
DGCA : Directorate General of Civil Aviation of India.
Flight Hours : Refers to the time elapsed from the moment the wheels of an aircraft leave the ground on a take-off until the wheels of an aircraft next touch the ground.
GDS : A global distribution system.
GSA : General sales agent.
MPD : The DGCA approved maintenance planning document.
MoCA : Ministry of Civil Aviation, Government of India.
MTOW : Maximum take-off weight as certified by DGCA.
PSF : Passenger service fee, a tax levied by the Government of India on passengers.
Seat Factor : Revenue passenger kilometres expressed as a percentage of available seat kilometres.
Route Dispersal Guidelines : Represents stipulation by the DGCA as regards capacity deployment as expressed in ASKMs by scheduled domestic airlines on certain lesser-developed regions in order to encourage air connectivity in these regions. Routes have been classified into 4 categories according to these guidelines, namely, Category I, Category II, Category IIA and Category III.
Variable aircraft rentals : Variable aircraft rentals are essentially termed as maintenance reserves, which are built towards carrying out long-term calendar based heavy maintenance of the aircraft (D Checks), overhaul cost of engine, Auxiliary Power Unit (APU) and landing gear as well as replacement of Life Limited Parts (LLPs). Rentals are specified in the lease agreements entered into between the airline and the lessor and are determined taking into account the age of the aircraft, proposed utilization of the aircraft (number of flight hours) and tenure of the lease. Yield : Passenger Revenue earned per kilometer flown.
Financial Terms (Basic)
Net Passenger Revenues : Represents the Passenger Revenues net of commisions paid to travel agents and GSAs.
Passenger Revenues : Represents the revenue recognised when transportation is provided to a passenger or when no claim for refund has been made by a passenger on an unused ticket for a period of two years.
Revenue Passenger Kilometers, or RPKM : Represents the number of kilometres flown by revenue passengers. Revenue passengers : Represents the total number of fare paying passengers flown on all flight segments (excludes passengers redeeming their frequent flyer miles).
Revenue per ASKM : Net Passenger Revenue divided by ASKMs.
Revenue per RPKM : Net Passenger Revenue divided by RPKMs.
Non-operating Revenue : Represents revenue from interest income, profit from sale of assets such as aircraft and engines and foreign exchange gains.
Operating Revenues : Represents Passenger Revenues, revenues from excess baggage and cargo and Other Income.
Other Income : Represents revenue from ticket cancellation and handling charges paid by the Government of India for PSF (being collected from passengers).
Other Operating Expenses : Represents the aggregate of variable rent, aircraft maintenance, landing and navigation charges and other airport charges, insurance costs and General and Administrative Expenses.
Total Expenses : Represents the aggregate of employee remuneration and benefit, aircraft fuel expenses, selling and distribution expenses, aircraft lease rentals, depreciation, interest and Other Operating Expenses.
Total Revenues : Represents the aggregate Operating Revenues and Non-operating Revenues.
BSP : Billing and Settlement Plan provided by IATA as a part of its passenger agency programme.
EBIT : Earnings before interest and taxation excluding Non-operating Revenues and excluding any adjustments to profit as required under SEBI Guidelines.
EBITDA : Earnings before interest, taxation, depreciation and amortization excluding Non-operating Revenues and excluding any adjustments to profit as required under SEBI Guidelines.
EBITDAR : Earnings before interest, taxation, depreciation, amortization and aircraft rentals (fixed), excluding Non-operating Revenues and excluding any adjustments to profit as required under SEBI Guidelines.
EPS : Earnings per Equity Share.
EBITDAR Margin : Calculated by dividing EBITDAR for the relevant period by Operating Revenues for such period. General and Administrative Expenses : Consists of expenses related to in-flight and other passenger amenities, communication costs, travelling and subsistence, rent, rates and taxes, repairs and maintenance, electricity, provision for bad and doubtful debts, directors’ sitting fees, loss on scrapping of fixed assets, loss on sale of fixed assets, loss on exchange rate difference and other miscellaneous expenses.
Technical Terms
C Check : A block “C” check in accordance with the MPD and includes all inspections up to and including those required every 4,800 Flight Hours, 4,000 cycles (defined as one take-off and landing) and 18 months.
D Check : The maintenance shop visit which shall include but not be limited to accomplishment of a block C6/8 year check in accordance with the applicable appendix of the MPD, all lesser checks, passenger cabin refurbishment (including lavatories and galleys) and strip and repainting of the complete fuselage, empennage, wings and pylons.
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