About Stanley Deal
Stanley Deal, Boeing's commercial chief, discussed the company's outlook at the Dubai Air Show in November 2023. He noted that the year had seen a "pivot" toward widebody orders, with 800 gross orders already recorded. Deal expressed optimism about a potential order from Emirates for the 777X, stating the aircraft is expected to be certified in 2025. He also commented on the aerospace industry's recovery, describing it as resilient and noting that global air travel was at about 97% of 2019 levels. Regarding labor negotiations with the International Association of Machinists (IAM), Deal said the company's objective was to reach a fair deal without a work stoppage. On the China market, he stated that dialogue between leaders is beneficial and noted that all 95 grounded 737 Max aircraft in China were back in service, expressing optimism about future orders.
In October 2021, Deal highlighted Boeing's long-standing partnership with Morocco, dating back over five decades. He cited the 2001 creation of Matisse Aerospace with Safran and Royal Air Maroc, and noted that the local aerospace sector had grown from about 10 companies to nearly 140, with annual exports of $1.7 billion. Deal described a 2016 memorandum of understanding as a success, adding 11 suppliers including TDM, the first Moroccan-owned aerospace supplier. He characterized Morocco as a "best value" country and expressed a commitment to supporting the kingdom's growth objectives.
Source: AI-verified profile updated from Stanley Deal's recent appearances.
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Transcript (19 segments)
I
Interviewer0:10
Already 800 gross orders for the year. The likes of Air India starting the year, Ryanair, Southwest United, and into the water basin this year has been more of a pivot to some of the widebody orders.
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Stanley Deal0:24
So we saw a strong narrowbody order. No doubt the world's on fire in terms of travel's back up, so it's natural this widebody order.
I
Interviewer0:34
Okay, you talk about the world being on fire, so let's talk about that. You've got huge demand at the moment, but you've got huge uncertainty. You've got the geopolitics. We're in this region right now. You've got huge economic headwinds also beginning to gather as well. We've got industrial headwinds. Are you surprised that this industry is sending such a positive message at the moment given all of those headwinds?
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Stanley Deal0:54
Well, it's a resilient industry and remember, it's an industry still recovering from the pandemic. So in that context, no, we're not surprised.
I
Interviewer1:19
Are there forces that are potentially destabilising?
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Stanley Deal1:22
Those are out there. We think the resilience of this long-term demand is there, and that's explaining this need for airlines to get ahead and get their order book in place.
I
Interviewer1:36
Can you build the planes?
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Stanley Deal1:38
We can build now. Are there going to be some bumps along the road? Sure. We've seen those. This industry really was destabilized from the pandemic. We're starting to see signs building back. But we at Airbus are still a long way from total output of where we'd like to be.
I
Interviewer2:13
What is it, October 25 now?
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Stanley Deal2:16
It's actually in 25. We'll have it certified. Tim's going to take his on that date. Right. And we've got other customers ahead.
I
Interviewer2:23
And I know you're confident that that aircraft over there behind you is going to be there.
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Stanley Deal2:27
I am confident. We're building that each day. We're working with the regulators. We're seeing harmony between FAA and EASA driving the requirements around this airplane. So it's not a 26. It's a 25.
I
Interviewer2:44
And I was just talking about what was happening with the APEC summit. As I say, a huge week for Boeing. What do you need to come out of that meeting between Xi and Biden? What needs to come out of that improved relationship?
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Stanley Deal3:13
50 years now. We've been with our customers internationally. Last week, the 95th airplane, the Max that was on the ground, came back. So they have all 95 airplanes flying. We're in the middle of preparing deliveries for the new Maxs, and I'm optimistic about the discussions that are going to occur in resulting orders.
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Interviewer3:37
Is it too early to predict that our job is going to be to deliver airplanes all of that time and express to the Chinese the need to replace their fleets and provide growth for the future?
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Stanley Deal3:51
Let's come back to the manufacturing issue in terms of what you expect to deliver on the Max this year. What is it, 375 to 400?
I
Interviewer3:57
That's correct. We understand you're making some changes right now. We have seen improvements. I characterize we have that now well found. And it's really a matter of doing the work predictably with high quality. And so that range is the right range to point to.
Okay. You talked about some of the manufacturing challenges. Let's talk about some of the labor challenges. The UAW has just signed a cracking deal with the big three automakers. You've got your labor negotiations coming up. I think it's, what, nine, ten months to go?
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Stanley Deal4:41
Yes. Are you looking at that deal and thinking we're going to have to pay significantly more? There's also ongoing issues, long-term issues surrounding pensions. Can you afford a strike at this point? Well, our focus right now is to do a fair deal with the IAM. We want to avoid a stoppage, but to get to a deal that works for them and us. And we'll start early in the negotiations as we get into the new year and culminates in August of this year, next year.
