CHICAGO, Jan 18 (Reuters) - A U.S. bankruptcy judge overruled objections on Wednesday to plans by United Airlines to offer an estimated $115 million in equity incentives to certain management personnel.

Wedoff suggested that the current business culture may overcompensate management.

Judge Eugene Wedoff said the plan, which was fiercely opposed by unions as excessive after they took steep wage and benefit and pension cuts, was reasonable and in the best interests of the company.

Wedoff indicated there was no standard in bankruptcy law for setting compensation levels and the practice of rewarding executives and other salaried workers as part of a business plan was common in corporate America.

Wedoff suggested that the current business culture may overcompensate management. "United is just one enterprise that operates in that general environment," he said.

The decision on executive compensation was another big hurdle cleared by the No. 2 airline in its three-year reorganization.

Creditors, including unions, approved the airline's reorganization plan last week. United hopes to step out of Chapter 11 protection in February.

Objections to the incentive plan were broader before the company agreed recently to pare it back. But unions held firm. They took two rounds of concessions, including termination of pension plans, to see the airline through restructuring.

"They're paying themselves with the sacrifices that have been given up by all the other constituencies in this case," said Sharon Levine, an attorney for the International Association of Machinists.

The labor group represents baggage handlers and other ground workers.