Daniel Baldini: Okay, and if you permit me one last related question. So as I’ve noted, your business jet business has fallen off quite substantially since the pandemic started. What are your sort of opinions about the prospects for that recovering?
Brian Shore: So our business jet business is the biggest program that we have in the business jet segment is a Global 7500/8000, which is a good program to be on. And we have a lot of content on that program also per engine unit. That’s kind of maybe the leading big, big, big business jet. Right now, Gulfstream has kind of come up with an answer in terms of the range capabilities of size. My opinion about the business jet industry is this. And just an opinion and I just want to say that, people will disagree some people will anyway. My opinion is that a recession is coming this year. And then the question is, how does it impact the business jet industry. My opinion again is that it will impact the industry differently in a different way, for the really big business jets as compared to a swan mid type business jet, why is that?
The Global 7500/8000, I think it’s $78 million per unit. So we’re talking about a lot of money. This is not the average regular wealthy guy. These are large corporations, Elon Musk types. Recession, are they going to hesitate to buy a $78 million airplane? Probably not, in my opinion. So I think the Gulfstreams and the Bombardier and the Falcons will probably do better in a recession. Now the smaller and midsized jet, that’s a different market. That’s a different buyer. Maybe it’s a guy who has four or five car dealers and he wants to have a jet, maybe now not a $75 million jet. It might be $5 million to $10 million. That guy probably doesn’t have $500 million or $600 million in a bank and he’s more vulnerable to recession, and that guy might be affected more in his terms of just buying attitudes about jets than the guy or the company who buys the $75 million airplane.
So my feeling is that the larger aircraft, Gulfstream, Bombardier, Falcons will do better. The smaller jets, maybe will be more affected by the recession. And I also would base that opinion upon past history. In the past, when receptions have occurred, economic downturns have occurred. The companies that made the smaller business jets were hurt badly. And I’m not aware of any reason why that pattern or dynamic would be very different if there’s another recession.
Daniel Baldini: Okay, great. Well thanks very much for your time.
Brian Shore: Sure, thank you for your questions and your interest.
Operator: There are no further questions in the queue. I’d like to hand the call back to Mr. Shore for closing remarks.
Brian Shore: Thank you, operator, and thank you all for listening. We appreciate it very much. Have a happy New Year. All the best to you and your family in 2023. Feel free to give us a call any time if you have any follow-up questions. So thank you, and take care. Goodbye.
Operator: Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your lines at this time, and have a wonderful day.
