SAS traffic figures - March 2016

• Scheduled traffic (RPK) increased 4% and the capacity (ASK) was up 6.8%.
• The load factor decreased 2 p.u. to 71.4%.
• SAS carried 2.3 million scheduled passengers in March, down 6.1%.
• The preliminary currency adjusted yield and PASK were down 14% and 16% in
March 2016. The nominal yield and PASK were down 17% and 19% in March 2016.
Market development and commentary
Demand has been positive in Scandinavia during 2015 and in the beginning of
2016. Overall market capacity has increased about 7% during the winter program,
with the strongest growth on primarily international routes. The capacity growth
is expected to slow down slightly during the summer program. Demand for European
leisure routes, long haul traffic and, when adjusted for the Easter holiday and
industrial actions during March last year, domestic routes continue to grow.

In response to the growing demand, SAS is increasing its intercontinental
capacity by about 25% during fiscal 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 the intercontinental expansion, capacity growth is about 1%.

SAS scheduled traffic development in March  SAS increased its scheduled capacity
in March by 6.8%. The traffic increased by 4%. It should be noted that last
year’s traffic figures were significantly affected by industrial actions amongst
Scandinavian and European carriers. The overall load factor declined by 2 p.u.
to 71.4%.

SAS intercontinental traffic increased 15.8%. The response to SAS refreshed long
haul cabin has been strong and traffic in Business Class increased during the
month by 47%. Intercontinental capacity was up 22.7%. The growth was driven by
new routes to Hong Kong, Los Angeles and Boston as well as more frequencies on
existing routes. The new route Stockholm-Los Angeles had a load factor above
85%. Within Europe/ Intrascandinavia, SAS increased capacity by 3.5% and traffic
was up 3.4%. Due to the Easter holiday, capacity on the domestic routes was
reduced by 7.7%, which contributed to a traffic decline of 12.7%.