Air Traffic Liabilities

{
  "id": "MLC-T-TRA-000022",
  "term": "Air Traffic Liabilities",
  "field": "Transportation",
  "definition": "The value of transportation sold but not used or refunded; i.e., (1) liabilities to passengers, or (2) liabilities to others. These include payables to other airlines for portions of interairline passenger trips - amounts the ticketing carrier owes the performing carrier. Also included are amounts the ticketing carrier owes to passengers prior to flights - which remain unearned revenue until air transportation is provided.",
  "references": [
    "TranStats Glossary"
  ],
  "url": "https://mlchart.com/terminology/transportation/air-traffic-liabilities/"
}