SAS — Earnings Release 2019

May 8, 2019

Scandinavian Airlines 195 87 Stockholm Telephone: +46 8-797 0000 Fax: +46 8-797 1515 www.sasgroup.net

Weak April traffic figures due to pilot strike

Over 2 800 flights were canceled and nearly 270 000 customers were affected during the first five days of the pilot strike, resulting in weak traffic figures in April.

SAS scheduled traffic	Apr19	Change1	Nov18-Apr19	Change1
ASK (Mill.)	3 662	-14.9%	21 893	-2.9%
RPK (Mill.)	2 725	-12.8%	15 116	-3.1%
Passenger load factor	74.4%	+1.7 p.p.	69.0%	-0.1 p.p.
No. of passengers (000)	2 156	-14.5%	12 619	-2.2%
Geographical development, schedule	Apr19 vs. Apr18		Nov18-Apr19 vs. Nov17-Apr18
	RPK	ASK	RPK	ASK
Intercontinental	-14.3%	-17.4%	-2.5%	-4.5%
Europe/Intrascandinavia	-10.7%	-12.0%	-4.7%	-3.3%
Domestic	-15.5%	-18.0%	-0.4%	1.2%
SAS charter traffic	Apr19	Change1	Nov18-Apr19	Change1
ASK (Mill.)	141	60.0%	1 026	24.1%
RPK (Mill.)	121	51.8%	932	20.5%
Load factor	86.1%	-4.6 p.p.	90.9%	-2.7 p.p.
No. of passengers (000)	38	40.0%	301	15.7%
SAS total traffic	Apr19	Change1	Nov18-Apr19	Change1
ASK (Mill.)	3 802	-13.4%	22 919	-2.0%
RPK (Mill.)	2 846	-11.2%	16 048	-2.0%
Load factor	74.8%	+1.8 p.p.	70.0%	-0.0 p.p.
No. of passengers (000)	2 194	-13.9%	12 920	1.8%

¹ Change compared to same period last year.

p.p. = percentage points

Scandinavian Airlines

195 87 Stockholm Telephone: +46 8-797 0000 Fax: +46 8-797 1515 www.sasgroup.net

Preliminary yield and PASK	Apr 2019	Nominal change	FX adjusted change
Yield, SEK	0.98	+8.3%	+6.1%
PASK, SEK	0.73	+10.9%	+8.6%

	Apr 2019
Punctuality (arrival 15 min)	86.3%
Regularity	88.4%

Definitions:

RPK – Revenue passenger kilometers ASK – Available passenger kilometers Load factor – RPK/ASK Yield – Passenger revenues/RPK (scheduled) PASK – Passenger revenues/ASK (scheduled)