SAS — Earnings Release 2010

Oct 7, 2010

The SAS Group Traffic figures September 2010

The SAS Group Traffic figures September 2010

SAS Group's September 2010 traffic figures

. SAS Group's traffic (RPK) increased by 8.5% during September and

capacity (ASK) was increased 3.2% vs same period in 2009.

. The load factor improved by 3.6 p.u.to 74.3%.

. SAS Group carried 2.4 million passengers in September, up 9.4% vs.

same period in 2009.

Group market trends, RASK and yield development

The currency adjusted yield for Scandinavian Airlines in August 2010 was

-5.2%, slightly weaker than indicated.  Currency adjusted RASK was down

1.6%, mitigated by the improved load factor. The RASK outlook for

September is uncertain but early indications show  continued stable RASK

vs last year. As indicated previously, the yield is negatively affected

by overcapacity and price pressure in some markets. The yield change for

September is expected to be negative in line with August.

The market continues to be unpredictable but a recovery has been noted

on both intercontinental routes and certain short haul Business routes,

however the uncertainty still remains in particular on the yield

development going forward due to overcapacity on certain markets. SAS

has as a result initiated yield enhancing measures to offset the

negative yield development. The implementation of the cost saving

program is on track.

SAS Group product and news update

. On 1 October the SAS Group implemented a new and improved baggage

concept on all group airlines.

. Fast Track has been introduced at Paris CDG for Business, Economy

Extra, and EuroBonus Gold members.

. After last year's successful launch of self service baggage drop at

five airports in Norway, the service will be introduced at

Stockholm-Arlanda airport in October for domestic flights.

Scandinavian Airlines' traffic development

. Number of passengers increased by 8.6% to 2.1 million.

. The traffic increased 7.2% and capacity was up 1.8%.

. The load factor was up by 3.8 p.u.to 75.5%.

The intercontinental traffic grew by 10.4% in September and capacity

increased by 1.7% resulting in a continued strong load factor of 89.1%.

On European routes, traffic was up 1.8% with a higher growth in Business

Class traffic. Traffic on intrascandinavian routes continued to perform

well and increased by 14.1% with load factors at 66.7%. Danish domestic

traffic increased 8%. Norwegian domestic traffic increased 7.6% with a

3.9 p.u. improvement in the load factor albeit fierce competition and

transfer of turbo prop production to Widerøe. Swedish domestic traffic

increased by a strong 18.7% and improved load factor by 10.5 p.u.

Widerøe and Blue1's traffic development

Widerøe carried 200,000 passengers in September, up 8.9% vs last year.

The capacity was increased with 10.4% following that Widerøe has taken

over SAS's Fokker 50 production on the West Coast and larger aircraft on

other routes. The total load factor was 60.1%, down 0.9 p.u. vs last

year.

Blue1's traffic increased by a strong 31.7% during September,

particularly driven by growth on European routes, Finnish domestic

growth and a new route on the Swedish domestic market. The total number

of passengers increased by 21.8% and the load factor reached 65.5%, up

6.2 p.u.

For detailed information, see attached file.