SAS - Interim / Quarterly Report 2014

Interim Report November 2013-July 2014

More passengers choose SAS in a challenging market

May-July 2014

Comparative figures for the corresponding year-earlier period include

Widerøe.

· Revenue: MSEK 10,697 (11,593)

· Unit revenue (PASK) declined 7.1 %

· Unit cost (CASK) decreased 5.6 %[1]

· EBIT margin: 8.7 % (12.1 %)

· Income before tax: MSEK 756 (1,176)

· Net income for the period: MSEK 496 (886)

· Earnings per common share: SEK 1.24 (2.69)

· The outlook for the full year 2013/2014 stands firm, see page 7

November 2013-July 2014

Comparative figures for the corresponding year-earlier period include

Widerøe.

· Revenue: MSEK 27,040 (31,123)

· Unit revenue (PASK) declined 7.9 %

· Unit cost (CASK) decreased 4.9 %[2]

· EBIT margin: 1.5 % (2.5 %)

· Income before tax: MSEK -468 (80)

· Net income for the period: MSEK -416 (-107)

· Earnings per common share: SEK -1.83 (-0.33)

[1] Currency adjusted and excluding jet fuel.

[2] Currency adjusted, excluding jet fuel and amended pension terms

totaling MSEK 450 in the Feb-Apr 2013 period.

SAS discloses this information pursuant to the Swedish Securities Market

Act and/or the Swedish Financial Instruments Trading Act. The

information was provided for publication on September 10, 2014, at 8:00

a.m.

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