Plain English Meaning
How the airplane is set up when it is ready to land — gear down (if it retracts), flaps fully extended, and flying at landing approach speed.
Full Definition
The arrangement of the airplane prepared for landing, typically with the landing gear extended (on retractable-gear aircraft) and the wing flaps set to the full or landing position as specified by the manufacturer. Power setting and airspeed are adjusted to maintain the approach profile in this configuration.
Context Anchor
You will see this term during approach and landing , , and training when the airplane is placed in a landing-like setup before flying slowly.