Industry glossary

Industry glossary

 

“Adjusted EBIT”

profit (or loss) before tax charge (or credit), interest (investment income, finance costs and other gains and losses), unrealised gains and losses on fuel and foreign exchange hedges, integration costs (including any asset impairments), and initial public offering (‘‘IPO’’) expenses

“Adjusted EBIT margin”

Adjusted EBIT for the relevant period divided by the Group’s revenue for the same period

“Adjusted EBIT margin”

Adjusted EBIT for the relevant period divided by the Group’s revenue for the same period

“Adjusted EBITDAR margin”

Adjusted EBITDAR for the relevant period divided by the Group’s revenue for the same period

‘‘Air Operator’s Certificate’’

Air Operator’s Certificate (granted by the CAA’s Safety Regulation Group)

“ancillary revenue”

revenues which are primarily derived from a range of unbundled products and travel- related ancillary services provided to customers, such as seat selection, checked-in baggage, car hire and insurance commission, and on-board sales of food, drinks and merchandise

‘‘ASK’’

available seat kilometre or the number of seats flown multiplied by the distance travelled in kilometres

‘‘CAGR’’

compound annual growth rate

‘‘break-even’’

the point where revenues and expenses are equal i.e. when neither a profit nor a loss has been (or will be) made

‘‘break-even load factor’’

the passenger occupancy rate on an aircraft, expressed as a percentage, where, at an assumed passenger ticket yield and ancillary revenue figure per passenger, the revenues equal the expenses

“EBIT”

profit (or loss) before tax charge (or credit), interest (investment income, finance costs and other gains and losses), unrealised gains and losses on fuel and foreign exchange hedges, integration costs (including any asset impairments), and IPO expenses

“EBIT margin”

EBIT for the relevant period divided by the Group’s revenue for the same period

“EBITDA”

profit (or loss) before tax charge (or credit), interest (investment income, finance costs and other gains and losses), depreciation and amortisation, unrealised gains and losses on fuel and foreign exchange hedges, integration costs (including any asset impairments), and IPO expenses

“EBITDAR”

EBITDA before aircraft rental charges

“EBITDAR margin”

EBITDAR for the relevant period divided by the Group’s revenue for the same period

‘‘effective exchange rate’’

the cost of currency for a period implicit through the weighted average cost of (i) currency acquired through forward contracts, and (ii) currency bought in the spot markets

‘‘IPO’’

initial public offering of Flybe Group plc shares on 15 December 2010

‘‘load factor’’

the number of seats sold (or flown, as appropriate) divided by seat capacity

‘‘route’’

a scheduled service flown by an airline other than any franchise route

“passengers”

a person with an issued ticket where the ticket has charged a fare and / or a passenger surcharge and tax (if applicable)

‘‘scheduled sectors flown’’

the total number of aircraft flights per annum, excluding positioning, charter, and training flights

‘‘seat capacity’’

the average number of seats per aircraft multiplied by the number of scheduled sectors flown

‘‘sector’’

a flight between an originating airport and a destination airport, typically with no intervening stops

‘‘sector length’’

the distance, typically in kilometres, of a flown sector

‘‘ticket yield’’

the total ticket revenue per passenger (after the deduction of government taxes and levies)

‘‘unit seat cost’’

costs incurred in a period divided by the seat capacity deployed during the same period


 

 

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When not travelling with an adult of at least 16 years of age, some children can be carried under the Unaccompanied Minor Scheme* on flybe operated flights.

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