The company said it will buy 25 planes from each of the two major aircraft manufacturers - Boeing and Airbus.
United called the agreement "a significant investment in the company's future", allowing it to cut operating costs.
The investment comes despite recent losses at several major US carriers including United.
The company has ordered 25 Airbus A350 aircraft and 25 Boeing 787 Dreamliners, and has secured the rights to by a further 50 of each aircraft in the future.
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