SAS traffic figures - January 2014

• The scheduled traffic (RPK) increased by 0.8%.
• SAS scheduled capacity (ASK) was up by 3.0%.
• The SAS scheduled load factor decreased by 1.4 p.u. to 63.6%.
• SAS carried 1.7 million scheduled passengers in January, down 0.2% vs. last
year.
• The yield and PASK were down 6.9% and 8.1% respectively in December.
 Market trends, PASK and yield development
Overall, the competition and capacity in the Nordic market intensified combined
with a slowdown in the growth during the end of calendar year 2013. Although SAS
has focused on defending its yield, as expected, this development has continued
in the first quarter of the 2013/2014 financial year with a negative yield/PASK
and low growth. Demand continues to be strongest on intercontinental routes and
relatively stable on routes within Scandinavia, while weaker on European routes.

Currency adjusted yield in December 2013 was down 6.9% and PASK* was down 8,1%
versus previous year, weak as expected. In January 2014, the change in yield and
PASK vs. last year will continue to be negative.