SAS Group's November 2012 traffic figures

• SAS Group carried 2.4 million passengers in November, up 2.7%.
• SAS Group’s capacity (ASK) increased by 6.5% and the Group’s traffic (RPK) increased by 6.3%.
• The SAS Group’s load factor decreased slightly by 0.1 p.u. to 68.6%.

Group market trends, RASK and yield development
Traffic growth continued to be positive during November, but did not fully match additional capacity. Number of bookings declined temporarily in the middle of the month during the negotiations of new collective agreements. Intercontinental and certain European and domestic routes continued to grow well.

Currency adjusted yield (Scandinavian Airlines) in October was up 3.1% versus previous year and RASK was up 6%. For November 2012 the yield and RASK (change vs last year) are expected to be close to unchanged.

The response to market campaigns is good and forward booking levels continue to be well above last year’s level. Overall, the market demand continues to be good, but remains unpredictable due to risk in the global economy. This adds uncertainty to the yield and RASK outlook going forward. The capacity increase for the 2012/13 financial year is expected to be approximately 5-6%.

SAS Group Investor Relations