SAS Group's May 2012 traffic figures

6/8/2012 5:00 AM EST

. SAS Group carried 2.7 million passengers in May. SAS Group's capacity
(ASK) increased by 1.5%.

. SAS Group's traffic (RPK) increased by 4.2%.

. The passenger load factor increased by 1.9 p.u. to 75.3%.

Group market trends, RASK and yield development

Traffic growth continued to be good on most routes during May as
capacity was carefully increased, which resulted in an improved load
factor.

Currency adjusted yield (Scandinavian Airlines) for April, was down by
3.4% versus previous year and RASK was down 0.9%, in line with
expectations. For May 2012, (change vs last year), the yield and RASK
development is expected to be similar to the outcome in April.

The response to market campaigns is still good and forward booking
levels are well above last year's level, but premium bookings are weaker
on certain routes. Overall, the market growth continues to be good, but
remains unpredictable due to added capacity in certain markets, risk in
the global economy and continued high jet fuel prices. This adds
uncertainty to the yield and RASK outlook going forward. The SAS Group
plans to increase the capacity by approximately 5% in 2012 vs 2011 as 36
new routes will be launched throughout the year.