SAS Board of Directors appeals EU fine

Board of Directors of SAS decides to appeal European Commission's decision regarding the amount of fine imposed in the SAS/Maersk affair The Board of Directors of SAS AB has today decided to appeal the European Commission's decision to impose a fine of EUR 39.375 M, which was issued in July 2001, as a result of the SAS/Maersk affair. "SAS accepts the Commission's decision regarding an infringement of EU competition law," says Harald Norvik, Chairman of SAS. "However, it is our opinion that the European Commission has departed from previous case law regarding the amount of the fine. It is on this basis that we are appealing the size of the fine." Harald Norvik explains the Board's decision from August 8 not to appeal, with the fact that, in the best interests of SAS, there was a wish at that time to minimize the negative attention for SAS. In its report on September 16, the Review Commission questions the Board's decision not to appeal the decision regarding the size of the fine. Following a new overall assessment, the Board has now reconsidered its previous decision. BOARD OF DIRECTORS OF SAS AB ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/17/20010917BIT00860/bit0002.doc http://www.waymaker.net/bitonline/2001/09/17/20010917BIT00860/bit0002.pdf