The phrase indicates an imminent and uncontrolled descent of an aircraft, suggesting a catastrophic failure or loss of control that will inevitably result in a collision with the ground. As an example, a pilot stating that phrase would imply that all attempts to regain control have failed, and the impact is unavoidable.
The declaration of such a situation carries immense significance due to its implications for safety, emergency response, and subsequent investigation. Historically, instances of similar declarations, even without the exact phrasing, have triggered immediate and extensive search and rescue operations. The accurate and timely assessment of such a critical condition allows for the most effective deployment of resources to potentially mitigate the consequences or aid survivors.