Plain English Meaning
The extra energy the airplane has left over after doing the basic job of staying level. The pilot can spend that extra energy to climb, speed up, or turn harder.
Full Definition
The energy available to an airplane beyond what is required to maintain straight-and-level flight at a given airspeed and altitude. It can be used to climb, accelerate, or maneuver, and is produced when thrust exceeds the drag required for level flight.
Context Anchor
Used in discussions, especially when judging whether the airplane can climb, accelerate, , or safely after a maneuver.