SAS — Earnings Release 2009

Jan 12, 2010

The SAS Group Traffic figures December 2009

The SAS Group Traffic figures December 2009

SAS Group's December traffic figures

. The SAS Group carried 24.9 million passengers during 2009.

. SAS Group's traffic decreased by 10.9% during December and seat

capacity was down 16.4% vs. 2008.

. SAS Group carried 1.7 million passengers in December, down 7.1% vs.

. Passenger load factor was 69.7%, up 4.3 p.u. vs. December 2008 and up

for the sixth month in a row.

Group market trends and yield development

The yield for Scandinavian Airlines in November was down by 9.4 %,

slightly better than October. For December 2009, the change in yield is

also expected to be negative indicating continued yield pressure going

forward. The lower yield will have a negative impact on the 4th Quarter

result. The market continues to be unpredictable and the uncertainty

regarding the timing of the recovery is considerable.

The SAS Group is currently implementing its Core SAS strategy - to

secure a future profitable SAS. The strategy includes cost reduction

initiatives of SEK 4.5 bn as well as a 20% reduction in capacity. The

capacity reductions are almost completed with 18 of 21 aircraft out of

traffic. The implementation of the cost reductions is well on track. An

additional SEK 0.8 bn of cost saving is being implemented to date. In

total, SAS Group's cost reductions currently amounts to SEK 5.3 bn. The

management and Board of the SAS Group are working continuously to

identify further cost-saving measures.

SAS Scandinavian Airlines

. Total number of passengers was 1.4 million during December, down by

8.3%.

. The traffic decreased by 11.7% and the capacity was down by 17.3%.

. The December load factor increased by 4.4 p.u. to 70.5%.

The intercontinental traffic decreased 12% and the capacity was down by

19.2% resulting in a strongly improved load factor of 6.7 p.u. Traffic

on European routes decreased by 16.7%, but the load factor improved by

3.9 p.u. SAS market share is relatively stable on the core European

business routes as most of the cuts are carried out on leisure routes.

The intrascandinavian traffic decreased 7.1% and the capacity was

reduced by 17.1%. The Norwegian domestic traffic was down 3.4%, but as

capacity was reduced by 8.5%, the load factor improved 3.2 p.u. Traffic

on Swedish domestic routes was down 2.8%.

Widerøe's traffic development

Widerøe carried 150.000 passengers in December up 5.6% vs last year. The

capacity was increased by 0.1% and traffic increased by 8% resulting in

an improved load factor of 4.3 p.u to 58.5%. Capacity was increased on

domestic routes and reduced on the company's international routes.

Blue 1's traffic development

Total number of passengers in December was 106,000, down 6.6% vs last

year. Total capacity was reduced by 11.5% mainly due to adjustments on

domestic and routes to/from Scandinavia. As the traffic decreased less

than the capacity reductions, the total load factor improved by 3.9 p.u

to 64.1%.

For further information Please contact VP,Head of SAS Group Investor

Relations Sture Stølen

+ 46 8 797 1451 sture.stolen@sas.se

Homepage: www.sasgroup.net