SAS — Capital/Financing Update 2018

Apr 12, 2018

SAS orders one Airbus A330E to replace one Airbus A340

SAS orders one Airbus A330E to replace one Airbus A340

SAS has signed an order for one additional Airbus A330-300E with delivery during

the spring of 2019. The aircraft will replace one Airbus A340.

SAS's long haul fleet consists of 16 Airbus A330/A340, of which one Airbus A340

mostly has functioned as a reserve aircraft. With the investment in one new

Airbus A330E, SAS improves its customer offering as SAS's entire long haul fleet

will have an identical cabin interior. In addition, the Airbus A330E has

approximately 15-20% lower jet fuel consumption per seat kilometer compared to

the Airbus A340 that will be replaced.

The list price of one A330E aircraft, including engines, ordered from Airbus

amounts to MUSD 264, before discounts agreed between SAS and Airbus. The new

Airbus A330E will be financed through a sale/leaseback.

In accordance with the other A330E, SAS has chosen RR Trent 772B as engine.