SAS — Earnings Release 2019

Oct 7, 2019

During September 2.9 million passengers traveled with SAS

During September 2.9 million passengers traveled with SAS

SAS reports an increase of 3% in number of passengers compared to same period

last year. Unit revenues increased with 4.4% and passenger yield with 5.4% which

affirms the positive trend seen during the year.

Total traffic capacity increased with 1.5% and number of passengers increased

with 87 000 or 3.0%, compared to September 2018. Regularity and punctuality also

showed an improvement compared to last year.

The traffic on SAS' domestic routes increased in all three Scandinavian

countries. The total increase in revenue passenger kilometers was 6.3% on

domestic routes, where Norway had the largest growth. European routes also show

an increase compared to last year, but the weak Swedish krona and geopolitical

uncertainties have dampened the demand for intercontinental travel to and from

Scandinavia. Currency adjusted passenger yield and unit revenue increased with

5.4% and 4.4% respectively, reflecting an improved supply/demand balance in

Scandinavia.

- It is encouraging that our continuous work to adapt our production to the

seasonal demand is reflected in improved passenger numbers. We note an increase

in domestic demand, which we believe is a direct effect of our work to improve

our customer offering and our efforts to reduce the climate impact of aviation.

In addition to our carbon offsetting of all SAS tickets booked by EuroBonus

members, travelers can now make their flights more sustainable by choosing to

pay for biofuel, which reduces climate affecting carbon emissions by 80 percent

compared to fossil fuel. Since launch we've seen an increasing interest from

customers for this possibility, says Rickard Gustafson, CEO of SAS.

For further information. please contact:

SAS press office. +46 8 797 2944

Michel Fischier. VP Investor Relations. +46 70 997 0673

SAS. Scandinavia's leading airline. carries more than 30 million passengers

annually to. from and within Scandinavia.  The airline connects three main hubs

- Copenhagen. Oslo and Stockholm - with 125 destinations in Europe. the US and

Asia. Spurred by a Scandinavian heritage and sustainable values. SAS will reduce

total carbon emissions by 25% and operate with biofuel equivalent to equal the

total consumption of fuel used to operate all domestic SAS flights. by 2030. In

addition to airline operations. SAS offers ground handling services. technical

maintenance and air cargo services. SAS is a founding member of Star AllianceT

and together with partner airlines offers almost 19.000 daily flights to more

than 1.300 destinations around the world.

Learn more at https://www.sasgroup.net

This is information that SAS AB is obliged to make public pursuant to the EU

Market Abuse Regulation. The information was submitted for publication by Michel

Fischier at 11:00 CET on 7 October 2019.