SAS traffic figures - July 2015

• SAS carried 2.6 million passengers totally in July.

• Scheduled traffic (RPK) was unchanged and the capacity (ASK) was reduced by
0.5%.

• The load factor increased by 0.4 p.u. to 86.9%, the highest recorded load
factor in a single month for SAS.

• The currency adjusted yield and PASK were up 4.8% and 1.0% respectively in
June. The nominal yield and PASK were up 7.9% and 4.0% respectively.
Market trends
Market conditions in Scandinavia have temporarily stabilized and the balance
between capacity and demand has improved in comparison with 2014. However, the
competition remains very intensive in certain markets.

PASK and yield development
In June 2015, SAS’ currency adjusted yield and PASK were up 4.8% and 1.0%
respectively, slightly higher than guided. The nominal yield and PASK were up
7.9% and 4.0% respectively. In July 2015 the change vs. last year in the
currency adjusted PASK is expected to be slightly positive.

SAS scheduled traffic development in July
SAS strategy is to focus on Scandinavia’s frequent travelers. During the summer
months the travel pattern amongst frequent travelers changes toward more leisure
oriented destinations. In response to this, SAS opened 47 seasonal routes.
Demand responded particularly well to/from Denmark and Sweden and grew by 3.5%
combined with higher load factors. SAS total scheduled number of passengers also
grew by 0.8%.

Scheduled capacity was decreased 0.5% but traffic during July was unchanged,
which resulted in a 0.4 p.u. higher load factor of 86.9%. SAS intercontinental
capacity was increased by 0.6% but the traffic was down 0.9%. While SAS
decreased its capacity on European/ Intrascandinavian routes by 1.7%, traffic
increased 0.3% in response to the seasonal route adjustments particularly on
European routes. Domestic traffic was up 1% and capacity was up 3.1% primarily
reflecting increased capacity on Swedish domestic routes.