Interim Report November 2014 – January 2015

Market position strengthened in a seasonally weak quarter
November 2014–January 2015

  · Income before tax and nonrecurring items: MSEK -829 (-1,169)


  · Revenue: MSEK 8,371 (7,871)


  · Unit revenue (PASK) rose 6.7%


  · Unit cost (CASK) rose 2.9%1


  · EBIT margin: -7.8% (1.7%)


  · Income before tax: MSEK -836 (-146)


  · Net income for the period: MSEK -640 (-112)


  · Earnings per common share: SEK -2.21 (-0.35)


  · SAS maintains its outlook for the full year 2014/2015, see page 8

1) Currency adjusted and excluding jet fuel.

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 March 5, 2015, at 8:00 a.m.