Plain English Meaning
The aircraft, its navigation equipment, and the pilot are all officially cleared to fly modern satellite- and computer-based routes that require a guaranteed level of navigation accuracy.
Full Definition
A status indicating that an aircraft, its avionics, and its flight crew meet all the equipment, certification, and training requirements needed to fly Performance-Based Navigation procedures. Performance-Based Navigation (PBN) is a system of flying defined routes using onboard navigation equipment that must meet specified performance standards for accuracy, integrity, , and availability, rather than relying on aids alone. Being PBN approved means the aircraft is legally and technically eligible to fly and RNP procedures called for in departures, , segments, and .