SAS — Capital/Financing Update 2010

Jan 4, 2010

SAS Group
Corporate Communications
SE-195 87 Stockholm, Sweden
Telephone: +46 8 797 0000
Fax: +46 8 797 1515
www.sasgroup.net

Press release
January 04, 2010
Page 1/1

A STAR ALLIANCE MEMBER

SAS sells 18 MD-80 surplus aircraft to Allegiant Travel Company

The SAS Group will in relation to the Core SAS program reduce its capacity by a total of 21 aircraft. By end of December 2009, 18 aircraft has already been taken out of production. As a result of this and earlier capacity reductions SAS holds MD-80 series surplus aircraft.

SAS has entered into a contract to divest 18 MD-80 Aircraft to Allegiant Travel Company, parent company of Allegiant Air, a US based airline. The aircraft are from 1985 to 1991 and will be delivered during the first half of 2010.

Allegiant has previously bought 13 SAS MD80's and claim that these are some of the best MD-80's available. This shows that SAS aircraft and maintenance program has a strong quality reputation in the market.

After the transaction the SAS Group will have 24 MD-80's in operation out of a total of 191 Aircraft. The remaining MD-80 Aircraft are intended to be kept in SAS operation as inexpensive reliable Aircraft, as well as Aircraft to manage the seasonality effect in the Nordic region.

The transaction will reduce the SAS Groups financial net debt by approximately 200 MSEK. There is no capital gain since sales value equals book value.

For further information, please contact
SAS Group Press duty, +46 8 797 29 44

SAS Group Corporate Communications