A

• AAPA (Association of Asia Pacific Airlines)
  Association that groups the main airlines of the region Asia Pacific.
• AEA (Association of European Airlines)
  A non-profit association for the European airline industry.
• AENA (Aeropuertos Españoles y Navegación Aérea)
  Public entity that manages Spanish civil airports of general interest and the facilities and networks of air navigation assistance.
• Aircraft utilisation
  Average number of hours that a carrier´s fleet flies on scheduled services per day or per year.
• ASK (Available Seat Kilometre)
  Total number of seats available times the distance flown. Essentially, capacity or supply.
• ATK (Available Tonne Kilometre)
  Payload capacity times distance flown.
• Average revenue per ASK
  It shows the unit revenue of production (Passenger revenue/ASK)
• Average Stage Length
  Kilometres flown per number of departures.

B

• Block Hours
  Time from departure of aircraft from loading position until its return to unloading position after landing.
• Break-even Load Factor
  The amount of traffic an airline needs to carry to cover costs.

C

• Codesharing
  A commercial agreement between two airlines that allows an airline to put its two letter IATA identification code on the flights of another airline.
• CRS
  Computer Reservation System or GDS, Global Distribution System. These systems provide schedules, availability, pricing and ticket issuance to travel agents and large corporations for hundreds of airlines, many hotels and car rental operators.

E

• EBIT
  Earnings before interest and taxes: Operating profit
• EBITDAR
  Earnings before interest, taxes, depreciation, amortisation and rentals. Shows the company´s cash flow generation.
• EBIT margin
  Earnings before interest and taxes in relation to total turnover.

F

• Flown Hours
  Time from departure of aircraft until its landing.
• Freedoms
  The right of an airline, obtained through bilateral agreements, to operate in the aerospace and on the territory of a country other than its home market.

H

• Hub
  Airport functioning as a central transfer point of an airline.

I

• IATA
  International Air Transport Association.
• ICAO
  International Civil Aviation Organisation

L

• Load Factor
  Percentage of ASKs filled by RPKs (RPKs/ASKs*100).

M

• MRO
  Maintenance, Repair & Overhaul.

R

• RPK (Revenue Passenger Kilometre)
  Total number of revenue paying passengers on aircraft times distance flown in kilometres. In effect, traffic or demand.
• RTK (Revenue Tonne Kilometre)
  Number of tonnes carried times the distance flown.

S

• Slot
  The right to take off or land at an airport at an appointed time.

W

• Wet Lease
  Generally contracts up to seven years under which the airline pays for the use of the aircraft, maintenance, insurance and crew.

Y

• Yield
  Average revenue per passenger kilometre (passenger revenue/RPK).