Passenger revenue definition
Passenger revenue. Passenger ticket sales are initially recorded as a current liability in an unearned transportation liability account until transportation is provided. This current liability is released as revenue is earned, sales are refunded, or ▇▇▇▇▇▇▇▇ from other airlines are received.
Passenger revenue means the gross revenue (without any deduction for
Passenger revenue. Passenger ticket sales are initially recorded as a current liability in an unearned transportation liability account until transportation is provided. This current liability is released as revenue is earned, sales are refunded, or ▇▇▇▇▇▇▇▇ from other airlines are received. All routine aircraft maintenance expenses are expensed as incurred. These estimated costs are recorded as maintenance, materials and repairs in the statement of loss. Liability for overhauls and periodic major maintenance is recognised at the time the Company becomes obligated for such costs. The actual cost of periodic major maintenance and overhauls is capitalized and depreciated over the estimated useful life (which will normally be the expected interval to the next scheduled major maintenance or overhaul). Property, plant and equipment and other long lived, non-current assets, are reviewed annually at each balance sheet date for impairment losses whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Assets whose carrying values exceed their recoverable amount are written down to the recoverable amount, being the higher of market value or value in use (on a discounted cash flow basis), and the resulting impairment loss recorded in the statement of operations. To the extent that a previously recognised impairment loss no longer exists or decreases, the carrying amount of the asset will be increased to the lower of recoverable amount or depreciated cost and the resulting reversal of impairment loss will be recorded in the statement of operations. Type of Property, plant and equipment Estimated useful life Airframe and related components 113 - 162 months D checks and landing gear 21,000 flight hours or 105 months Engine shop visit 1 9,000 flight hours Engine shop visit 2 4,500 flight hours Limited life parts 20,000 cycles Buildings 20 - 50 years Flight equipment 10 years Other property, plant and equipment 3 - 5 years The estimated residual value for the airframes is US$250,000 per aircraft. The residual value for the aircraft engines is US$50,000 per engine. The residual value for flight equipment is 5%. All other property, plant and equipment have no salvage value. Where impairment losses have been recorded against property, plant and equipment, the recoverable amount is depreciated to estimated residual value using the straight-line method over the remaining estimated useful life.
Examples of Passenger revenue in a sentence
Passenger revenue increased 15.1%, $924 million, during the nine months ended September 30, 2000 as compared to the same period in 1999.
Passenger revenue increased 15.8%, $337 million, during the quarter ended September 30, 2000 as compared to the same period in 1999, which was principally due to improvements in yield and load factor as well as new transatlantic and Latin American destinations served.
Passenger revenue in the early part of the year showed low growth rates but then increased from the summer onwards.
Passenger revenue increased 4%, which reflects a 3% increase in revenue passenger miles on capacity growth of 2%.
More Definitions of Passenger revenue
Passenger revenue means those monies wherever paid by passengers who are to embark at any U.S. port for water transportation and all other accommo dations, services and facilities relating thereto.
Passenger revenue means the fares collected on the Services operated in the performance of the Contract including any on bus sales of prepaid tickets (except to the extent that there is agreement between the Operator and the Council to the contrary or that the sale relates to the sale of a multi operator ticket and the Operator is obliged to pass on that revenue to the body administering the sale proceeds of multi operator tickets).
Passenger revenue. Passenger ticket sales are initially recorded as a current liability in an unearned transportation liability account until transportation is provided. This current liability is released as revenue is earned, sales are refunded, or ▇▇▇▇▇▇▇▇ from other airlines are received. All routine aircraft maintenance expenses are expensed as incurred. These estimated costs are recorded as maintenance, materials and repairs in the statement of loss. Liability for overhauls and periodic major maintenance is recognised at the time the Company becomes obligated for such costs. The actual cost of periodic major maintenance and overhauls is capitalized and depreciated over the estimated useful life (which will normally be the expected interval to the next scheduled major maintenance or overhaul).
Passenger revenue means, for any period, all “passenger revenues” included as such on the statement of operations of Lessee for such period prepared in accordance with GAAP.