“We are also assuming that by the end of the summer, we are on our way back to more normal conditions.”

In context

“o Brent prices we have seen a significant increase in the spread for jet fuel. Are there special things we should be thinking about there, and reasons why from a jet fuel perspective this could carry on longer and/or be more disruptive than simply what is happening with oil prices? H. Lawrence Culp: Seth, I do not think we are trying to be too granular in the underlying assumptions. The economic realities you have pointed out are there, and I hope what we are taking is a conservative set of assumptions on board here between now and, let us say, Labor Day. Time will tell. By and large, we know that between inflation and potential scarcity in other parts of the world, we could see some near-term airline behavior shift. By near term, I mean late summer and early fall—call it the second half. We are also assuming that by the end of the summer, we are on our way back to more normal conditions. Given what we have seen before, we may have a lag in the aftermarket on the commercial side of the business from what is happening currently, but then we tend to have a spring back, which is why we have alluded to some of our historic reference points. Demand tends to get pushed out as opposed to going missing indefinitely. Blaire Shoor: Liz, we have time for one more question. Operator: This question comes from Gautam J. Khanna with TD Securities. Gautam J. Khanna: Hey. Thank you. I had actually two questions, but the first one just on supply chain—you mentioned delinquencies and the like. If you could just characterize how material improved sequentially and where, and maybe just an update you have given in the past on how many suppliers and where the pinch points are strongest. And then”