In March, Boeing 747-8 Intercontinental successfully began its more than 600 hours flight test program that will finish in the fourth quarter. The 747-8 Intercontinental will have the lowest seat-mile cost of any large commercial jetliner, with 12% lower costs than its predecessor, the 747-400. The aircraft is powered by GEnx2B, where Volvo Aero is involved with five different components. The airplane provides 16% better fuel economy, 16% less carbon emissions per passenger and generates a 30% lower noise level than the 747-400.
Volvo Aero has acquired all of Pratt & Whitney’s shares in Volvo Aero Norge and hence became sole owner of the company. The acquisition took effect on March 31, 2011.