SAS Group Interim Report January-March 2007

SAS Group Interim Report January-March 2007

Improved earnings during first quarter of 2007

•  Operating revenue for the first quarter amounted to MSEK 13,839 (12,976), an
increase of 6.7%. 

•  Number of passengers rose by 6.3% to 9.1 million.

•  Nonrecurring items totaling MSEK 368 (‑68) are included in results for the
quarter. Profit from the sale of Flight Academy amounted to MSEK 370.

•  Income before capital gains and nonrecurring items amounted to MSEK -469
(‑1,319) for the period, an improvement of MSEK 850. This improvement in income
is due to a combination of healthy market growth, higher yield, effective
capacity and cost controls, and new business models.

•  Net income for the quarter amounted to MSEK ‑47 (-1,064), an improvement of
MSEK 1,017.

•  Equity/assets ratio amounted to 32% (19%) at March 31, 2007.

•  CFROI for the twelve-month period April 2006-March 2007 was 17% (13%).

•  Earnings per share for continuing and discontinued operations for the SAS
Group amounted to SEK ‑0.11 (‑6.29). Earnings per share for continuing
operations amounted to SEK ‑2.39 (‑6.16) for the quarter. Equity per share
amounted to SEK 98.69 (64.54).

•  Cost savings corresponding to SEK 2.5 billion are currently being
implemented. In March, 85% of the savings had been put into effect.

•  There are currently no indications of a slowdown in the economy or the
airline market. However, uncertainty remains regarding the strength of growth,
the future competitive situation and the trend for jet fuel prices. The trend in
the first quarter was in a positive direction and continued favorable passenger
growth is expected in most of the SAS Group's markets for the full-year 2007.
Competition is expected to remain intense in the markets in which the SAS Group
is active.



All reports are available in English and Swedish and can be ordered from SAS,
SE-195 87  Stockholm, telephone +46 8 797 00 00,
fax +46 8 797 51 10. The reports can also be accessed and ordered via the
Internet: www.sasgroup.net

The SAS Group's monthly traffic and production data are normally published on
the fifth business day of the following month. A financial calendar can be found
at: www.sasgroup.net

Direct questions to: SAS Group Investor Relations: Vice President Sture Stølen
+46 8 797 14 51, e-mail: investor.relations@sas.se