“I think we're keeping it about 1x. That's sort of been our cadence and our thought patterns and our observations, frankly. But the demand has been quite good.”

In context

“nd where we've had some challenges in getting up the learning curve, I think that's where our focus is going to be and not to point any one particular operating unit out, but if you look at where the largest operating pieces of the business are and where we've historically had our margins, that's where we see our best opportunities. But this company has been focused on operations and has been very disciplined from an operating perspective for a long time, and we're just going to put a finer point on that. Operator: Your next question comes from the line of Myles Walton with Wolfe Research. Myles Alexander Walton: Phebe, the strength of bookings at Aerospace in the first half, are you feeling more confident in seeing a book-to-bill at or above 1x for 2025 at this point? Phebe N. Novakovic: I think we're keeping it about 1x. That's sort of been our cadence and our thought patterns and our observations, frankly. But the demand has been quite good. And as I noted, in my previous answers to one of the questions, we see that demand carrying through into the third quarter. Myles Alexander Walton: Okay. And then I think in your prepared remarks, you mentioned margin pressure in 2028 from the G280 (sic) [ G400 ]. I had my notes a certification in 2026. Phebe N. Novakovic: 400s. Myles Alexander Walton: Sorry, the G400. I had in my notes that certification was in 2026. Does that slipped to the right? Phebe N. Novakovic: I don't think so. I will tell you, we've slowed down the 400 a bit because we've got our hands full. That's not about the FAA. It's simply we've got an awful lot as we continue to grow and really work on our operating leverage at Gulfstream. But 400 is doing quite well. But I think we've -- I don't know that we've ever actu”