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
- Following the Fleet recovery
- How are we handling commercial aircraft usage changes as a result of Covid-19
- How Storage and In Service Status changes are being determined during the Covid-19 crisis
- Viewing recently stored aircraft in Fleets Analyzer
- What is the Aircraft API?
- What is Aircraft Hours?
- What is the definition of an accident in Fleets Analyzer?
- Understanding business aviation orders data
- What does a "2500" Delivery Date / Build Year signify?
- How do I find a company (operators, etc.) associated with specific aircraft?