Credit: Shutterstock photoOn Tuesday, United Airlines, owned by parent company United Continental Holdings UAL announced that it is buying 25 new Boeing BA 737-700 jets, adding to a previous order made back in January for 40 737s.
The newest addition will allow United to fly "larger, more efficient aircraft as the airline reduces the size of its 50-seat regional fleet. United expects to have fewer than 100 aircraft in its 50-seat fleet by the end of 2019," the company said in a news release .
The airline also announced that it would speed up the retirement process for its 747s.
"The new 737-700 aircraft are ideal for our fleet as we continue to reduce our reliance on 50-seat aircraft," said Gerry Laderman, United's senior vice president of finance and acting chief financial officer. "Retiring the 747 fleet and replacing those aircraft with more customer-pleasing, current generation aircraft creates a more reliable and efficient fleet that provides a better overall experience for our customers traveling on long-haul flights."
United Continental is a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
