EasyJet 2010 Annual Report Download - page 98

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easyJet plc
Annual report and accounts 2010
Glossary
96
Aircraft dry / wet leasing Payments to lessors under dry leasing arrangements relate solely to the provision
of an aircraft. Payments to lessors under wet leasing arrangements relate to the
provision of aircraft, crew, maintenance and insurance.
Aircraft owned / leased at end of year Number of aircraft owned or on lease arrangements of over one month’s duration
at the end of the year.
Available Seat Kilometres (ASK) Seats flown multiplied by the number of kilometres flown.
Average fare Passenger and ancillary revenue divided by passengers.
Block hours Hours of service for aircraft, measured from the time that the aircraft leaves the
terminal at the departure airport to the time that it arrives at the terminal at the
destination airport.
Cost per ASK Revenue less profit before tax, divided by available seat kilometres.
Cost per seat Revenue less profit before tax, divided by seats flown.
Cost per seat, excluding fuel Revenue, less profit before tax, plus fuel costs, divided by seats flown.
EBITDAR Earnings before interest, taxes, depreciation, amortisation, aircraft dry leasing costs,
and profit or loss on disposal of assets held for sale.
Gearing Net debt (adjusted by adding seven times aircraft dry leasing payments for the year
and deducting restricted cash) divided by the sum of shareholders’ equity and
adjusted net debt.
Load factor Number of passengers as a percentage of number of seats flown. The load factor
is not weighted for the effect of varying sector lengths.
Operated aircraft utilisation Average number of block hours per day per aircraft operated.
Other costs Administrative and operational costs not reported elsewhere, including some
employee costs, compensation paid to passengers, exchange gains and losses
and the profit or loss on the disposal of property plant and equipment.
Passengers Number of earned seats flown. Earned seats comprises seats sold to passengers
(including no-shows), seats provided for promotional purposes and seats
provided to staff for business travel.
Profit before tax per seat Profit before tax divided by seats flown.
Return on capital employed (ROCE) Normalised profit after tax divided by average net debt plus average shareholders’
equity
Return on equity (ROE) Profit for the year divided by the average of opening and closing
shareholders’ funds.
Revenue The sum of revenue from ticket sales and ancillary revenue.
Revenue Passenger Kilometres (RPK) Number of passengers multiplied by the number of kilometres those passengers
were flown.
Revenue per ASK Revenue divided by available seat kilometres.
Revenue per seat Revenue divided by seats flown.
Seats flown Seats available for passengers.
Sector A one-way revenue flight.