Francisco Gomes Neto: Yes. Louis, on our end, we’re facing the same supply challenges that the entire industry is facing across aerospace. We don’t believe that we’re going to be adversely impacted any more or less than anyone else in the sector. But however, we have phenomenal relationships engaged with our supply chain, especially with the chipset providers, so that we don’t see any major disruptions for 2023 or beyond as we continue to manage through those relationships.
Louis Raffetto: Thank you very much.
Operator: Our next question comes via phone and the number ends in .
Noah Poponak: Hi, guys. Can you hear me? It’s Noah Poponak.
Francisco Gomes Neto: Yes, go ahead.
Noah Poponak: Okay. Okay. Great. Do you expect book-to-bill above 1 or below 1 in Commercial and Executive in 2023?
Francisco Gomes Neto: I think, Arjan and Michael, you can answer this as well.
Michael Amalfitano: Yes. I’ll €“ what I’ll say about the book-to-bill for 2023 is that on the U.S. markets on the E-Jets 175-E1, we still see some challenges on the pilot shortage. So, I think that market will be less strong than what we’ve seen in the previous number of years. On the E2, I just elaborated on that. We’re very bullish about the opportunities, and we hope to have a good performance there on 2023. On average, I’d say around book-to-bill or better. Hopefully, that’s where we end up, but it’s a bit early to say.
Francisco Gomes Neto: Michael?
Arjan Meijer: Yes, just to follow up on the Executive Aviation side. As I mentioned, in 2022, our book-to-bill was consistently in excess of 2:1. In 2023, obviously, we’ll see some slight reduction as the marketplace continues to calm to more normal levels. However, our demand for our products across the sector remains very strong. So, we anticipate that we will be at the high end of any historical book-to-bill averages for the industry.
Noah Poponak: Thanks guys. On the pilot shortage piece, that commercial, do you view that as cyclical temporary? There’s a pilot shortage now, but we’ll get more pilots, maybe you get some scope relief at some point or should we be now thinking of that as structural to your business where it’s really hard to get scope change? And because there’s a pilot shortage across the board, formerly regional pilots are all being to mainline and then the carriers order large narrowbody, Boeing and Airbus aircraft and just kind of move on from your segment of the market, and therefore, it’s a little bit more locked in?
Arjan Meijer: Yes. Thank you. I’ll try to be short on that answer, but it’s a complex area, but what I would say is that, a change in scope has proven to be very difficult over the last couple of years. So, we don’t really expect that change to happen. What is important is the connectivity in the United States. There is a lot of airports that will struggle to handle the bigger narrowbodies. We do see a continuing interest from the majors in the segment. So, we do believe there is a cyclical trend here. It will not be solved in the short-term. It will probably take 1 or 2 more years to restabilize, but we do believe that there’s a lot of focus on getting that issue resolved. We’re seeing both the majors and the regionals spending money and time on increasing the amount of pilots to be trained.
And what we also see is that a lot of pilots are still caught up in the training system because of the COVID scenario. So, we’re still in the tunnel when it comes to pilot training, but we do believe that we will come out and come to a more stabilized scenario in the period ahead of us.
Noah Poponak: Okay. Great. Is it possible to quantify, just lastly, expenses in 2022 that do not repeat in 2023, whether that’s related to turboprop investment or legal or otherwise?
