Does this mean he has a 16 hour layover before his plane leaves, or rather that his flight leaves at 1600 hours… ie. at 4:00 PM?
It means [his flight leaves] at 16:00, o r 4:00 pm.
Thank you Ilya. To be honest, I found this little dialog to be just a bit confusing. In the first instance he seems to be at the train station, asking which train will be the best to get him to the airport in time for his flight. Clear enough so far. But then he meets the girl who presents him with the two options which she feels he has. The options do not seem to have much to do with trains… but with airport stuff, like buying tickets and checking baggage, etc. Just a little convoluted for a Beginner I Level dialog… IMO.
Personally, I would have gone with option two (второй вариант), arriving 2 hours before flight time. If I am a little early, it’s OK. I’ve got my iPod with me, loaded up with plenty of LingQ content to listen to!!! Пока! Миша
You are welcome Миша! I have not looked at the dialog. Still, a bit confusing is too good…IMO 
Steve urges, we must be open to the uncertainty. I am afraid I am too picky myself, having the desire to understand everything. But experience shows, this only diminishes the mass of the input that otherwise would have come through me, and faster exhausts my interest (if I had one, of course)