SAS — Earnings Release 2021

Jun 7, 2021

SAS Traffic figures - May 2021

SAS Traffic figures - May 2021

Passenger numbers up on last month.

In May, more than 400,000 passengers flew with SAS, an increase of about 20%

compared with April. During the month, SAS increased capacity 9% to meet higher

demand. Passenger numbers remain low compared with a normal year, but the

increase compared with April is also reflected in an improved load factor, which

rose almost 6 percentage points.

"We are looking forward to the summer and are pleased with the gradual increase

in demand. To reduce uncertainty when booking flights, SAS is offering more

flexible ticket rules and generous rebooking alternatives. To make it easier for

passengers, we are also launching SAS Travel Ready Center, a digital tool to

upload necessary travel documents and to access information about current travel

restrictions," says Karl Sandlund, acting CEO of SAS.

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SAS scheduled traffic May21 Change[1] Nov20- May21 Change[1]

ASK (Mill.) 1,078 513.6% 6,347 -62.3%

RPK (Mill.) 389 297.7% 1,932 -82.2%

Passenger load factor 36.1% -19.6 p.p. 30.4% -34.1 p.p.

No. of passengers (000) 404 155.6% 2,259 -76.0%

Geographical May21           Nov20-

development, vs.          May21

schedule May20   vs.

Nov19

-May20

RPK ASK RPK ASK

Intercontinental n/a n/a -94.1% -63.3%

Europe/Intrascandi 744.1% 586.8% -84.9% -76.4%

navia

Domestic 119.9% 179.4% -55.0% -30.8%

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SAS charter traffic May21 Change[1] Nov20- May21 Change[1]

ASK (Mill.) 0 n/a 35 -95.9%

RPK (Mill.) 0 4,898.7% 13 -98.2%

Load factor 25.0% n/a 38.6% -48.5 p.p.

No. of passengers (000) 0 3,766.7% 4 -98.5%

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SAS total traffic May21 Change[1] Nov20- May21 Change[1]

(scheduled and

charter)

ASK (Mill.) 1,079 513.8% 6,382 -63.9%

RPK (Mill.) 389 297.8% 1,945 -83.2%

Load factor 36.1% -19.6 p.p. 30.5% -35.1 p.p.

No. of passengers 404 155.7% 2.263 -76.5%

(000)

[1] Change compared to same period last year. p u = percentage units

\\\\

Preliminary yield and PASK May21 Nominal change FX adjusted change

Yield, SEK 1.20 -39.5% -42.0%

PASK, SEK 0.43 -60.8% -62.4%

May21

Punctuality (arrival 15 92.4%

min)

Regularity 99.7%

Change in total CO\2 -75.0%

\emissions, rolling 12

months

Change in CO\2 \emissions -11.5%

per available seat

kilometer

Carbon offsetting of 61%

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 Michel

Fischier at 11:00 a.m. CET on 7 June 2021.