United to Cut 100 Planes From Fleet

When completed, the fleet reduction will lower the average fleet age to 11.8 years. "The decision to dramatically reduce our capacity profile, particularly in the domestic marketplace, while over time eliminating a fleet type, is a significant step leading to a more effective and efficient operating fleet for United in the years ahead," said Chief Operating Officer John Tague, in a prepared statement.

Last month, AMR's(AMR Quote) American Airlines said it would chop mainline domestic capacity by 11% to 12% in the fourth quarter, retiring at least 75 mainline and regional aircraft. Overall capacity will decline by 7% to 7.5%, and thousands of employees will be let go.

Delta(DAL Quote), which is merging with Northwest(NWA Quote), has also announced capacity cuts of about 10%, accompanied by about 3,000 job losses.

Shares of UAL rose 7.2% to $9.14.