EU General Court annulles European Commission decision

On November 9, 2010, the European Commission decided to fine SAS Cargo and the
SAS Group, alongside 11 other airlines, for participation in a global cartel in
the air cargo sector. SAS was fined MEUR 70.2, but appealed the decision in
January 2011 to the European Court of first instance, the General Court. Today,
nearly five years later, the European Court has annulled the European
Commission’s decision including the fine of MEUR 70.2.

The European Commission can appeal today’s judgment to the European Court’s
court of highest instance, the Court of Justice of the European Union. If the
European Commission chooses to appeal, SAS will continue to vigorously defend
itself.

“The European Court’s judgment is in line with SAS’s position and shows that SAS
was correct to proceed with this matter. SAS will now review the judgment to
determine any further action, particularly in relation to the ongoing civil
damages cases, which are largely based on the European Commission’s decision
that has now been annulled,” says Marie Wohlfahrt, General Counsel at SAS.

SAS will not recognize the return of MEUR 70 until the European Court’s judgment
has become legally enforceable.