SAS Group Interim Report JAN-JUN 1999

The SAS GROUP SAS DANMARK A/S SAS NORGE ASA SAS SVERIGE AB January-June 1999 HIGHLIGHTS OF THE INTERIM REPORT AS PER JUNE 30, 1999: *The SAS Group's operating revenue increased by 4.8% to MSEK 20,735. *The SAS Group's income before taxes amounted to MSEK 473 (1,450), primarily due to the effects of unsatisfactory development of unit revenue and unit cost. The second quarter's income amounted to MSEK 495 (837). *Passenger traffic (RPK) increased by 4.0%. Traffic in Business Class decreased by 3.5% while Economy Class increased by 7.7%. The number of passengers increased by 4.9%. *Cash flow from operations amounted to MSEK 900 (2,122). *Capital gains on sales of shares and other fixed assets amounted to MSEK 433 (299). *Earnings per share amounted to SEK 2.00 (5.91) for SAS Danmark A/S, SEK 2.49 (6.55) for SAS Norge ASA and SEK 2.09 (6.55) for SAS Sverige AB. *SAS's parent companies report income after taxes as follows: SAS Danmark A/S MDKK 78 (238) SAS Norge ASA MNOK 110 (297) SAS Sverige AB MSEK 147 (453) *The Board of Directors adheres to its assessment that income before taxes for the full-year 1999 will be considerably below that of the previous year. This assessment is based on the assumption that there will be no further capital gains during the second half of the year. The interim report has not been reviewed by the Company's auditors. IMPORTANT EVENTS IN THE SECOND QUARTER APRIL *SAS Cargo is chosen "Cargo Airline of the Year." MAY *SAS and Singapore Airlines enter a strategic alliance. *Air New Zealand and Ansett Australia join Star Alliance. *The program of change, SAS 2000+, is launched to SAS's customers on May 7. JUNE *SAS orders a further five deHavilland Q400's. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/08/11/19990811BIT00280/bit0001.doc The Full Report http://www.bit.se/bitonline/1999/08/11/19990811BIT00280/bit0002.pdf The Full Report

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