The SAS Group Traffic Figures

STOCKHOLM, Sweden, March 10, 2003 (PRIMEZONE) -- The SAS Group (Other OTC:SASDF):

- The SAS Group transported a total of 2.2 million passengers in February 2003 vs 2.4 million in 2002, a decrease of 9.2%.

- Total traffic (RPK) decreased by only 3.9% positively affected by growth on long haul routes.

- Overall group passenger load factor decreased by 1.6 p.u to 59.0% for February 2003 vs. 2002.

Market trends and yield development

The current macroeconomic environment remains very challenging for all airlines in the group. Indications of passenger yield development in February show continued pressure on yields for Scandinavian Airlines as a result of negative mix, campaigns and other market activities. Yield (unit revenues) for January 2003 was down 13% vs January 2002. It must be noted that the yield is also significantly affected by more capacity on intercontinental routes with lower yields. Yields on the European routes were down 5-6% in January. Braathens managed to increase its load factor by 0.9 p.u.

The yield development in January/ February is in line with the figures reported for the previous months, however the demand and traffic development has weakened further. The SAS Group has initiated forceful measures to offset the negative development in passenger volumes and yield. On March 7, 2002 the Group also announced additional structural measures for all the airlines in the group. These measures are aimed to create a platform for profitability and long-term competitiveness. The general market outlook remains negative for the coming months as a result of economic slowdown in Scandinavia/ Europe as well as the uncertain geopolitical situation.

Scandinavian Airlines

- Scandinavian Airlines traffic (RPK) decreased by 5.7% in February 2003 compared with 2002 as a result of reduced capacity by 4.3%.

- Scandinavian Airlines passenger load factor decreased by 0.9 p.u. to 61.2%

Intercontinental traffic increased by 11% in February as a result of increased capacity with the introduction of Airbus A330/340. The demand on the European routes continued to be weak and capacity has been adjusted down 6% and traffic was down 9%. Intrascandinavian traffic continued to be weak. Danish domestic traffic was down mainly as a result of the discontinued Greenland route. The Norwegian and Swedish domestic traffic is affected by changes in the networks and the markets continued to be weak.

The SAS Group Traffic Figures

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