SAS traffic figures - January 2016

• Scheduled traffic (RPK) increased 11.4% and the capacity (ASK) was up by
14.8%.
• The load factor decreased by 1.9 p.u. to 63.7%.
• SAS carried 1.8 million scheduled passengers in January, up 5.2%.
• The preliminary currency adjusted yield and PASK were down 7% and 10% in
January 2016. The nominal yield and PASK were also down 10% and 13% in January
2016.
Market development and commentary
Demand has been positive in Scandinavia during 2015 and in the beginning of
2016. Overall market capacity has gradually started to increase during the last
months and this trend is expected to continue, primarily on international
routes. Despite a very intensive competition coupled with a struggling oil
industry, it is satisfactory to note a stable domestic business. Market demand
for European leisure routes as well as long haul traffic remains strong and
growing.

In response to the growing demand, SAS is increasing its intercontinental
capacity by about 25% during financial year 2015/2016 through new routes and
frequencies already announced. Also, until April 2016 larger aircraft will
replace phased out Boeing 717 primarily in Sweden. Overall, this will result in
a longer average stage length with subsequent effect on the yield/PASK and
contribute to an expected scheduled capacity growth of 10% during 2015/2016.
Excluding intercontinental expansion, capacity growth is about 1%.

SAS scheduled traffic development in January  SAS increased its scheduled
capacity in January by 14.8%. The traffic increased by 11.4%, primarily driven
by growth on intercontinental and European routes. The overall load factor
declined by 1.9 p.u. to 63.7%.

SAS intercontinental traffic increased 15.9% and the capacity was up 22.2%. The
growth was driven by the new route between Stockholm and Hong Kong and more
frequencies on existing routes. Within Europe/Intrascandinavia, SAS increased
seasonal capacity on longer leisure routes which contributed to an overall
capacity increase of 14.9%. In particular, demand continued to be strong on
routes to/from Sweden. Domestic traffic was up 5.1% and capacity was increased
2.1%.