SAS — Capital/Financing Update 2016

Nov 9, 2016

SAS finances eight aircraft

SAS finances eight aircraft

As part of SAS's focus on optimizing the capital structure and reduce financing

costs, SAS has agreed to refinance two Boeing 737 and four Airbus A319 with a

credit facility of MUSD 75 including Standard Chartered Bank and Norddeutsche

Landesbank. The facility matures in January 2023. The aircraft will be

refinanced in the period until January 2018 and were previously financed through

lease agreements.

As part of the transaction, SAS has also entered into a Sale and leaseback

transaction with Standard Chartered Bank for the first two delivered Airbus

A320neo with CFM Leap-1A engines during 2016 with a lease period of ten years.