SAS - Capital/Financing Update 2015

SAS transfers a landing and take-off right ("slot-pair") at London Heathrow and generates a positive earnings impact of MUSD 60

SAS has entered into a slot transaction with a major international air carrier

that will take over one slot-pair at London Heathrow from SAS at the beginning

of the summer traffic program on 29 March 2015.

The transaction will generate a positive earnings impact of the equivalent of

MUSD 60 for SAS to be accounted for during the second quarter of the fiscal year

2014/2015 with a corresponding cash effect during the fiscal year 2014/2015.

SAS is the fifth largest airline operating at London Heathrow measured in number

of departures and had before this transaction 21 daily slot-pairs at London

Heathrow, which now will be reduced to 20 daily slot-pairs.

SAS operates from London Heathrow to Copenhagen, Gothenburg, Oslo, Stockholm and

Stavanger. Even after the transaction, SAS will continue to offer a strong and

comprehensive network between Scandinavia and London Heathrow. The intention is

to keep the seat capacity to/from London Heathrow through the use of larger

aircraft on remaining departures. Furthermore, SAS will consider the use of

other airports in the London-region.

SAS Investor Relations

AI assistant