SAS — Earnings Release 2017

Sep 7, 2017

SAS traffic figures August 2017

SAS traffic figures August 2017

. Scheduled traffic (RPK) increased 2.3% and the capacity (ASK) was up 6.4%.

. The load factor decreased by 3.2 p.u. versus last year to 78%.

. Scheduled number of passengers was flat and amounted to 2.5 million passengers

in August

. The preliminary currency adjusted and nominal yield respective PASK increased

5% and 1% in August 2017 vs. last year.

Market development and capacity outlook

During August the demand continued to be robust in Scandinavia. Due to larger

aircraft combined with higher yield, SAS's overall load factor declined versus

last year in August.

At the same time as the demand is growing, the competition remains very

intensive. After a summer with modest capacity growth in Scandinavia, the market

capacity increase is expected to accelerate during the autumn and winter 2017.

In fiscal year 2016/2017, SAS's total capacity growth (ASK) will amount to 8%.

In fiscal year 2017/2018, SAS has an indicative plan to increase capacity (ASK)

by around 1-3%, primarily as a result of increased capacity on longer European

routes and the fact that the Airbus A320neo has more seats than the aircraft

being replaced.

SAS scheduled traffic development in August

SAS increased its scheduled capacity in August by 6.4% and the traffic grew by

2.3%, resulting in a load factor of 78%. This was 3.2 p.u. lower than last year.

The traffic on SAS's European/Intrascandinavian routes increased by 6.5%. This

was driven by a 19% increase in traffic on leisure oriented routes in Europe.

SAS's intercontinental traffic decreased 1.9% and the capacity was up 4.7%

versus last year. The added capacity relates to the new route to/from Miami.

On SAS's domestic routes, the capacity was increased by 2%, driven by the new

route to the Faroe Islands. The traffic increased by 0.7%, resulting in a

somewhat lower load factor mainly attributable to the Swedish domestic market.