Letter of Intent: a written document stating that a customer agrees in principle to purchase aircraft from a manufacturer at a given price and for a given quantity, sometimes including an approximate delivery schedule. However a deposit has not been paid and the buyer has not fully committed to the purchase as they are still able to walk away from the deal. Thus the manufacturer cannot guarantee the delivery slots until the finer details of the purchase agreement are negotiated and agreed upon. Once the purchase agreement is signed and a deposit paid, the LoI is converted to a Firm Order.
Articles in this section
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- Grouping by seat fit data in Aircraft Summary
- Why can Seat and Internals data not be trended?
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- Where do we source the data for IFE (In-Flight Entertainment)?
- How are Civil Turbine Helicopters classified in Fleets Analyzer?
- What is a Special Purpose Company?
- Does Total Deliveries Events (Scheduled) contain all scheduled deliveries?
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