SAS — Capital/Financing Update 2014

Aug 22, 2014

SAS completes sale/leaseback of 4 Airbus A330-300 Enhanced

SAS completes sale/leaseback of 4 Airbus A330-300 Enhanced

SAS has today secured financing of 4 Airbus A330-300 Enhanced through

the signing of a sale and leaseback agreement with the Chinese bank

Bocomm. The aircraft will be delivered during the latter part of 2015

and the beginning of 2016. The agreement means that SAS, at the time of

delivery for respective aircraft, will sell the aircraft to Bocomm and

then lease it back during a term of 12 years.

"It is with pleasure that I today signed an agreement that secures

financing of the first phase of SAS' long haul fleet renewal through the

delivery of 4 Airbus A330-300 Enhanced. This is SAS first large

agreement with a Chinese counterpart and Bocomm will become a very good

partner for SAS, says Göran Jansson Executive Vice President and CFO for

the SAS Group.

The list price for 4 Airbus A330-300 Enhanced is approximately USD 1

billion.

SAS Investor Relations