What does 'L'heure est flexible' mean?

The statement 'L'heure est flexible' means The hour, the time is flexible. In the Word-by-Word translation, the definite article 'le'* means 'the'. The noun 'heure' means 'hour, time'. The verb 'est' means '[he/she/it] is'. The adjective 'flexible' means 'flexible'. *The letter 'e' drops before a Word that begins with a vowel or an unaspirated 'h'.