Danish Pilot Union members approve the new collective agreement

~ Following the ballot of Danish Pilot Union members, the new collective
agreement that was concluded on 19 November as part of the 4Excellence NG plan
has been approved.

~ New SEK 3.5 bn Revolving Credit Facility from Banks and Core Shareholders to
secure financial preparedness now only conditional on final parliamentary
approvals
On 19 November SAS announced that the Board had decided to consider that the
conditions for the implementation of 4Excellence NG exist as all required eight
union agreements had been signed. At the same time, SAS announced that the
Danish Pilot Union members would carry through a ballot amongst its members in
relation to the collective agreement.
Danish Pilot Union has now completed the ballot amongst its members and informed
SAS that the agreement has been approved.
The new revolving credit facility of SEK 3.5 billion is therefore now only
subject to parliamentary approval where required. These propositions in relation
to the governments participation in the revolving credit facility will be
presented to the parliaments in Sweden and Norway on 12 December 2012. The
Danish Finance Committee is expected to make a decision in relation to this on
23 November 2012.