SAS traffic figures - September 2014

• SAS carried a total of 2.7 million passengers in September, up 7.3%.

• The total traffic (RPK) increased by 5.3%.

• The total capacity (ASK) was up by 3.2%.

• The total load factor increased by 1.6 p.u. to 78.1%.

• The yield was down 2.3% while PASK was up 1.1% in August and the currency
adjusted yield and PASK were down 4.6% and 1.3%.
Market trends, PASK and yield development

Market conditions remain challenging. However, since the introduction of the
summer 2014 program, load factors have improved and in September 2014, SAS
reports the sixth consecutive month with an improvement in the load factor
versus last year.

In August, SAS’ yield was down 2.3% while PASK was up 1.1%. Currency adjusted
yield and PASK were down 4.6% and 1.3%, as expected. In September 2014 the
change in the currency adjusted PASK vs. last year is expected to be in line
with last year.

SAS scheduled traffic development in September

Following the expanded leisure network during the summer months, SAS seasonally
increased its capacity on the more traditional businesses routes in September.
The capacity was increased by 3.9%, primarily driven by intrascandinavian routes
and larger European destinations.

Traffic grew by 6.7% resulting in a 2.0 p.u. improvement in the load factor to
76.6%, the second highest load factor for a September month.

SAS intercontinental routes continued to perform well with a traffic growth of
3.2%, driven by the USA routes.

Domestic routes grew 2.3% combined with a positive load factor development.