Top Definition
1.the ridiculously low salary that airline First Officers are paid.

2.the ridiculously small penis size of Airline Executives.
1. Our airline's policy states that your "cockpittance" (food stamps) are not be used at the grocery store while wearing your First Officer uniform (it makes the airline look cheap).

2. The Director of Operations at XYZ airlines was hung like a peanut, he was endowed with a mere "cockpittance" and treated pilots like crap to compensate.
by Fotofly November 23, 2010
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