United Airlines (UAL) - Get Free Report confirmed plans to buy a total of 270 new planes from both Boeing (BA) - Get Free Report and Airbus (EADSY) - Get Free Report for around $30 billion in the largest single aircraft deal in the carrier's history.
United will buy 50 Boeing 737 Max 8 jets and a further 150 Max 10s, with the first of the Max 8s expected to begin carrying passengers later this summer. United will also buy 70 Airbus A321 Neos, the planemaker's narrowbody rival to the Max, as part of the $30 billion list price order. United also said it will add 25,000 new jobs as a result of the fleet expansion.
United said the order will help it to introduce more than 500 new planes to its overall fleet over the next three years and will "significantly boost United's total number of mainline daily departures and available seats across the airline's North American network."
"Our United Next vision will revolutionize the experience of flying United as we accelerate our business to meet a resurgence in air travel," said CEO Scott Kirby. "By adding and upgrading this many aircraft so quickly with our new signature interiors, we'll combine friendly, helpful service with the best experience in the sky, all across our premier global network."
"At the same time, this move underscores the critical role United plays in fueling the broader U.S. economy – we expect the addition of these new aircraft will have a significant economic impact on the communities we serve in terms of job creation, traveler spending and commerce," he added.
United Airlines shares were marked 0.11% higher in pre-market trading Tuesday to indicate an opening bell price of $52.55 each. Boeing shares, meanwhile, jumped 1.2% to $242.90 each.