“we would see a migration from CSAs to T&M contracts with about 60% of the shop visits done in-house here between Safran and GE Aerospace, and the remaining 40% being done by our channel partners.”

In context

“ott. Scott Deuschle: Hey Rahul, what does the 100% free cash flow conversion target for 2028 assumed with respect to the proportion of new engines being sold on CSAs in that timeframe, particularly on LEAP. Mainly, I’m just curious if you’re assuming LEAP mostly migrates to T&M by that time? Thanks. Rahul Ghai: We do expect, Scott, that as we go through the year, as you go through the decade, I should say, that there will be more T&M contracts. Keep in mind, as Russell spoke at Investor Day, our 2030 target for LEAP is we do about 60% or so of the shop visits between us and Safran, and 40% are done externally. And of that 60%, there will be a mix between CSAs and T&M, but we are actively working to increase the T&M population. Our CBSA partners are standing up there helping us as well. So we would see a migration from CSAs to T&M contracts with about 60% of the shop visits done in-house here between Safran and GE Aerospace, and the remaining 40% being done by our channel partners. Operator: Our next question will come from the line of Robert Spingarn with Melius Research. Robert Spingarn: Good morning. Larry Culp: Good morning. Robert Spingarn: Congrats to the team for this new chapter and getting through the spins, and congrats to you, Steve. I wanted to ask you, Larry, about RISE, just to change the topic a little bit, and the potential here to deliver 20% improvement in fuel consumption versus current engines, both air framers appear interested in RISE. And if competing engine OEMs aren't providing an open fan architecture, could we find ourselves in a position where RISE is or CFM is the only engine provider for the next-gen narrow bodies? Or do you think that the need for competition changes that dynamic? Larry Culp: Well, I think where we're focused today is”