This is doubly smart from IAG. First, as has been pointed out, it's only a Letter of Intent, so it's not binding on IAG. Second, remember the last time Boeing's order book took a dive, after Sept 11, when Ryanair swooped in and did the deal of the century which formed the basis for its future expansion? By giving Boeing a good news story, Willie has also greatly reduced the incentive for Boeing to cut another sweet deal with Ryanair this time.