United to downsize fleet

photo by Drewski2112

United Airlines, facing a slumping economy and rising fuel prices, announced today that it would ground 10 to 15 of its "older, less fuel efficient, narrowbody aircraft" as part of a plan "to offset what could be more than a $1 billion increase in fuel costs in 2008". "We are taking a prudent step now by reducing our fleet, taking assets out of the network that don't make sense at these fuel prices, to better position United to be successful in an ever-challenging environment," United CFO Jake Brace said. "United has an aggressive five-year plan focused on creating shareholder value. We have led the industry in reducing domestic capacity and continue to lead efforts to pass commodity costs onto our customers, as other industries do." As for which type United will ground: probably either some of the Boeing 737-300s and/or -500s.