Airline KPI Guide
Airline KPI Guide
Airline KPIs
for Investment Professionals
In This Guide
This guide highlights the key performance indicators for the
airline industry and where investors should look to find an
investment edge. While this guide is not a full airline industry
primer, as the market leader in granular consensus estimates
data, Visible Alpha works with partners and clients to
determine the key airline metrics that will aid market
participants in identifying airline trends and future
performance of airline companies – including Southwest
Airlines, Air Canada, Cathay Pacific and more – by region,
sub-industry and carrier type.
A number of expenses are subtracted from the revenue. Labor, fuel, airport
landing fees and maintenance costs are all important expenses for an airline.
CASM-Ex captures all costs excluding fuel on a per available seat mile basis.
For profitability, EBIT, EBITDA and EBITDAR are all a focus. EBITDA is
looked at due to the industry’s high depreciation and amortization costs, while
EBITDAR is also analyzed to normalize for each company’s different
accounting treatments of their rent expenses.
Airlines are generally modeled on a per available seat mile (ASM) or kilometer
(ASK) basis in order to analyze the unit economics of each business.
Revenue is often looked at on a revenue per available seat mile basis (RASM)
or passenger revenue per available seat mile (PRASM) basis.
...and more!
Visible Alpha Insights includes analyst data, company data and industry data
at level of granularity unparalleled in the market. Our industry data –
Standardized Industry Metrics – enables market participants to quantify and
compare market expectations for companies across 184 industries.
48
Global Tickers
69
Contributing Brokers
575
Current Analyst Excel Models
218
Unique line items in
212
Unique line items in our
430
Total standardized
our standardized standardized operating line items
financials data metrics data
Visible Alpha offers 18 airline comp tables, comparing forecasts for key
financial and operating metrics, to make it easy to quickly conduct relative
analysis, whether you are interested in looking at key values for Southwest
Airlines competitors or global airline passenger yield. Every pre-built,
customizable comp tables is based on region, sub-industry or key operating
metrics. All comp tables are fully customizable.
LATAM APAC
Airport Charges
Airport charges are expenses paid by airlines for the use of airport facilities, including aircraft
landing, freight and other charges related to the use of airport infrastructure such as runways and
terminals.
EBITDAR
Earnings before interest, taxes, depreciation, amortization, and restructuring or renting costs.
Visible Alpha’s deep consensus data provides a quick understanding of the sell-side view
on companies and industries at a level of granularity, timeliness and interactivity that has
never before been possible.
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