SAS — Earnings Release 2021

Oct 7, 2021

SAS Traffic figures - September 2021

SAS Traffic figures - September 2021

More than one million passengers traveled with SAS in September

Customer demand has increased further and 1.1 million passengers flew with SAS

in September. This is an increase of almost 90% compared to the same month last

year. Capacity increased and was 74% higher compared with September last year.

The load factor for September ended at 54%, which was 17 percentage points

higher than the same month last year but is impacted by longhaul, which

currently is driven primarily by cargo operations.

"Travel restrictions are easing up and we instantly see higher demand. We are

very pleased we transported more than a million passengers for the third

consecutive month and we increase capacity accordingly. Uncertainty regarding

the pandemic and future demand remains. SAS has to stay agile and flexible to be

able to quickly respond to customers' willingness to travel," says Anko van der

Werff, President & CEO of SAS.

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SAS scheduled traffic Sep21 Change[1] Nov20- Sep21 Change[1]

ASK (Mill.) 2,137 70.3% 14,216 -32.7%

RPK (Mill.) 1,127 151.4% 6,322 --50.6%

Passenger load factor 52.8% 17.0 pp 44.5% -16.1 pp

No. of passengers (000) 1,102 85.3% 6,032 -48.5%

Geographical Sep21           Nov20

development, vs.          - Sep2

schedule Sep20 1   vs

. Nov1

9-Sep2

0

RPK ASK RPK ASK

Intercontinental 356.0% 136.9% -77.0% -37.1%

Europe/Intrascandi 273.4% 110.1% -42.4% -37.5%

navia

Domestic 30.0% -0.5% -31.5% -18.6%

[][]

SAS charter traffic Sep21 Change[1] Nov20- Sep21 Change[1]

ASK (Mill.) 144 149.1% 527 -46.2%

RPK (Mill.) 108 136.2% 387 -54.1%

Load factor 75.1% -4.1 pp 73.4% -12.7 pp

No. of passengers (000) 46 133.6% 159 -44.2%

[][]

SAS total traffic Sep21 Change[1] Nov20- Sep21 Change[1]

(scheduled and

charter)

ASK (Mill.) 2,281 73.8% 14,743 -33.3%

RPK (Mill.) 1,236 150.0% 6,709 -50.8%

Load factor 54.2% 16.5 pp 45.5% -16.2 pp

No. of passengers 1,148 86.9% 6,191 -48.4%

(000)

[1] Change compared to same period last year. pp = percentage points

[]\\\\

Preliminary yield and PASK Sep21 Nominal change[1] FX adjusted change

Yield, SEK 1.10 -12.5% -12.9%

PASK, SEK 0.58 29.1% 28.6%

Sep21

Punctuality (arrival 15 88.1%

min)

Regularity 98.4%

Change in total CO\2 -47.4%

\emissions, rolling 12

months

Change in CO\2 \emissions -12.4%

per available seat

kilometer

Carbon offsetting of 52%

passenger related emissions

Definitions:

RPK - Revenue passenger kilometers

ASK - Available seat kilometers

Load factor - RPK/ASK

Yield - Passenger revenues/RPK (scheduled)

PASK - Passenger revenues/ASK (scheduled)

Change in CO\2 \emissions per available seat kilometers - SAS passenger related

carbon emissions divided with total available seat kilometers (incl. non-revenue

and EuroBonus), rolling 12 months

Carbon offsetting of passenger related emissions - Share of SAS passenger

related carbon emissions compensated by SAS (EuroBonus members, youth tickets

and SAS' staff travel)

From fiscal year 2020 we report change in CO\2\ emissions in total and per

Available Seat Kilometers (ASK) to align with our overall goal to reduce our

total CO\2\ emissions by 25% by 2025, compared to 2005.

For further information, please contact:

SAS press office, +46 8 797 29 44

SAS, Scandinavia's leading airline, with main hubs in Copenhagen, Oslo and

Stockholm, is flying to destinations in Europe, USA and Asia. Spurred by a

Scandinavian heritage and sustainable values, SAS aims to be the global leader

in sustainable aviation. We will reduce total carbon emissions by 25 percent by

2025, by using more sustainable aviation fuel and our modern fleet with fuel

-efficient aircraft. In addition to flight operations, SAS offers ground

handling services, technical maintenance and air cargo services. SAS is a

founder member of the Star AllianceT, and together with its partner airlines

offers a wide network worldwide. 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 Louise

Bergström at 11:00 a.m. CET on 7 October 2021.