United Airlines is considering an earlier retirement of its Boeing 747 jumbo jets. The airline company is looking to replace it with newer and more efficient planes that run on two engines.

"We are contemplating an accelerated retirement plan for the 747s. If we do decide to head in this direction, we plan to accelerate widebody deliveries to replace this capacity," Senior Vice President of Flight Operations Howard Attarian said.

The Boeing 747 is scheduled to be replaced by 2020, but the recent memo indicates that it might happen as early as 2018. "As you know, this is an aging fleet that many operators are beginning to exit from service, and as this happens, support for the aircraft, especially in our spokes, gets more difficult," Attarian added.

Queen of the Skies

The Boeing 747 made its debut on the aircraft market in 1970 as the first wide-bodied plane that increased the demand for international travel. Nicknamed the "Queen of the Skies," the aircraft is complete with four engines that require more fuel.

United still has 22 of the Boeing 747-400s at its hubs in San Francisco and Chicago. The plan is to end its service in Chicago starting February 2017 and completely phase it out by 2018. Many airline companies have already retired their 747 planes including Delta Airlines.

According to Vice President of Network Brian Znotins, United is planning to use the Airbus Group SE A350s. There is also the possibility of using other versions of the Boeing 777 and 787 once the 747 is officially retired.

Replacements

The Chicago-based airline recently ordered 35 large Airbus Group SE A350 jets that can seat 350 people. United can also add more 777-300ERs as Boeing is planning on increasing its sales for 2018 and 2019. It can harbor 398 passengers with United already buying a unit last year as a plane replacement.

United is also close to finalizing a new deal with Boeing regarding a 40-plane order worth $3.2 billion. The new Boeing 737-700 planes will be available for service by 2017. A company executive also said that United is looking for additional aircraft.

The new 737-700 is an updated version of the 737, which was first introduced back in 1969. United opted for these Boeing jets rather than those from Bombardier because pilots will not need re-training.

"Our customers have a preference for an improved travel experience, including first class seats, Economy Plus and Wi-Fi. These aircraft are an efficient way to meet those needs while reducing 50-seat flying," United's acting CFO Gerry Laderman said.