SAS — Capital/Financing Update 2016

Dec 12, 2016

SAS finances five additional Airbus A320neo aircraft through Sale and leaseback

SAS finances five additional Airbus A320neo aircraft through Sale and leaseback

SAS has secured financing of an additional five Airbus A320neo through the

signing of a Sale and leaseback agreement with SMBC Aviation Capital. The

aircraft will be delivered between 2016 and 2018. The agreement means that SAS,

at the time of delivery for the respective aircraft, will sell the aircraft to

SMBC Aviation Capital and then lease it back during a long term lease period.

Through this agreement, SAS has until now agreed on financing of twelve Airbus

A320neo of the order of 30 aircraft. SAS has also agreed letter of intents

regarding the financing of a further six Airbus A320neo.

SAS Investor Relations