SAS Group traffic report - October 2004

The SAS Group Traffic figures October 2004 Good growth and improved load factor ·Total passenger traffic (RPK) increased by 7,7% in October 2004 vs 2003. ·The SAS Group transported 3,0 million passengers in October 2004 vs 2,9 million in 2003, an increase of 2,6%. ·Overall group passenger load factor improved by 0,4 p.u to 65,2% for October 2004 vs. 2003. ·Yields has continued to stabilize Group market trends and yield development Group total traffic volumes developed well in October with a traffic (RPK) growth of 7,7%. Capacity (ASK) increased by 7,1% resulting in an improved load factor of 0,4 p.u. The improved passenger load factor is explained by the development in SAS Braathens and Spanair as well as intercontinental routes. Demand has improved in October, but is still weak on Swedish domestic routes and on certain European routes. Yields for Scandinavian Airlines in September were down by 7% vs. 2003. Yields for October will be reported next month, but indications show a reduction in line with September. Intercontinental routes continued its positive trend from previous months with improved passenger load factors. European routes continued to develop weak for Scandinavian Airlines with a 3,5 p.u. reduction in passenger load factor. The development has improved since September. The SAS Group Norwegian domestic traffic increased by 4,0% and the load factor increased by a strong 3,7 p.u. Spanair's traffic increased in October by a very strong 21,7% and load factor improved with 4,2 p.u.. Swedish domestic routes continued weak due to severe overcapacity on many routes. Group traffic volumes improved in October. Yield development has also stabilized during the second half of 2004. Yield indication for Scandinavian Airlines for September shows continued yield reductions in line with the recent months. Yields are expected to develop in line with or improve slightly in the last two months of the year, but due to the situation with continued overcapacity and the competitive situation with continued potential price pressure, the overall outlook remains cautious. Due to the overcapacity situation and weak traffic development on many routes the SAS Group has initiated "Capacity & Utilization Focus" targeting a reduced capacity of 4% and improved aircraft utilization by approx 4%. Scandinavian Airlines (including SAS Braathens) ·Scandinavian Airlines traffic (RPK) increased by 4,2% in October 2004 compared with 2003. ·Scandinavian Airlines passenger load factor decreased by 0,5 p.u. to 65,5%. ·SAS Braathens traffic increased 9,0% and passenger load factor improved by 4,1 p.u. to 61,9% in October 2004 vs October 2003. Demand on the long haul routes continued to be strong in particular on the North Atlantic routes. For further information Please contact Head of SAS Group Investor Relations Sture Stølen + 46 8797 1451 ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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