SAS Group - First Quarter Result

THE SAS GROUP SAS DANMARK A/S SAS NORGE ASA SAS SVERIGE AB January - March 1999 Highlights of the Interim Report as per March 31, 1999: The SAS Group's income before taxes amounted to MSEK -22 (613). The SAS Group's operating revenue increased by 1.6% to MSEK 9,621. Passenger traffic (RPK) increased by 1.8%. Traffic in Business Class decreased by 7.6% while Economy Class increased by 6.8%. The number of passengers increased by 3.2%. Cash flow from operations amounted to MSEK -3 (772). Capital gains on sales of shares and other fixed assets amounted to MSEK 387 (297). Earnings per share amounted to SEK -0.02 (2.51) for SAS Danmark A/S, SEK 0.22 (2.85) for SAS Norge ASA and SEK -0.10 (2.72) for SAS Sverige AB. SAS's parent companies report income after taxes as follows: SAS Danmark A/S MDKK -1(102) SAS Norge ASA MNOK 10(126) SAS Sverige AB MSEK -7 (192) Expense developments during the first quarter were not satisfactory, however, on a full year basis, it is expected that 1999 will show a development in which unit costs will not be greater than in 1998. The Board of Directors' assessment of income for 1999, which was presented in conjunction with the 1998 year-end report, is adhered to, that is, that income before taxes for 1999 will be considerably below the previous year's level. The change in depreciation of aircraft, according to plan, effective from January 1, 1999, has now been considered in this assessment. The interim report has not been reviewed by the Company's auditors. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/05/06/19990506BIT00420/bit0001.pdf The Full Report http://www.bit.se/bitonline/1999/05/06/19990506BIT00420/bit0002.doc The Full Report