SAS Group Interim Report January - June 2000

January - June 2000 HIGHLIGHTS OF THE INTERIM REPORT AS PER JUNE 30, 2000: * The SAS Group’s income before taxes was MSEK 732 (496). Income for the second quarter amounted to MSEK 1,029 (507). * Income excluding capital gains amounted to MSEK 443 (63) for the full period and MSEK 753 (461) in the second quarter. * Passenger traffic (RPK) increased by 7%. Traffic in Business Class rose 5%. * Increased fuel costs had a negative impact on earnings of MSEK 712 compared with the first half of the previous year. * Cash flow from operations amounted to MSEK 1,057 (833). * Earnings per share amounted to SEK 3.48 (2.00) for SAS Danmark A/S, SEK 3.22 (2.49) for SAS Norge ASA, and SEK 3.40 (2.09) for SAS Sverige AB. SAS’s parent companies report the following income after taxes: SAS Danmark A/S MDKK 145 (78) SAS Norge ASA MNOK 147 (110) SAS Sverige AB MSEK 240 (147) Despite the substantial rise in fuel costs, the previous forecast of income before taxes, excluding capital gains, for the full year 2000 of approximately MSEK 1,000 remains unchanged. This is based on an improved earnings trend in operations, with regard to both revenues and costs, which will compensate for the higher fuel costs. This interim report has not been reviewed by the Company’s auditors. The complete report can be accessed on IMPORTANT EVENTS IN THE LAST TWO QUARTERS SECOND QUARTER 2000 * SAS tested Digital TV in interactive communication with customers. * British Midland and Mexicana Airlines became new members of the Star AllianceTM. * SAS launched timetable information via SMS. * SAS International Hotels (SIH) sold the Radisson SAS Scandinavia Hotel property in Oslo. FIRST QUARTER 2000 * SAS launched a WAP service for ticket reservations and information via mobile telephones. * SAS was ranked best domestic airline in Norway and received the "Grand Travel Award." * SAS EuroBonus won the "Freddie Award" for the fourth consecutive year. * SAS decided to buy 12 Airbus A321s and options for a total of SEK 4.5 billion. These aircraft meet high standards as regards low fuel consumption and noise levels and raise SAS’s transport capacity to/from several major European cities and between the three Scandinavian capitals. * SAS Cargo, Lufthansa Cargo and Singapore Airlines intensified their partnership plans in the freight sector. * SAS, British Midland and Lufthansa concluded a joint venture agreement regarding European traffic to/from London Heathrow and Manchester. * The Star AllianceTM was broadened to incorporate two more members, Singapore Airlines and Austrian Airlines Group. * SAS signed an agreement with Sabre, the world leader in advanced IT solutions for the travel and transport industry, regarding wider distribution of SAS’s products and services. IMPORTANT EVENTS AFTER JUNE 30, 2000 In cooperation with twelve other airlines, SAS set up the airline industry’s largest Internet-based marketplace for business-to-business commerce, Aeroxchange. ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: The full report The full report

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