The SAS Group investor info including monthly traffic and capacity data - August 2002

SAS Group Investor Relations September 9, 2002 Investor information on the Internet The SAS Group Investor Info including Monthly Traffic and Capacity Data - August 2002 Scandinavian Airlines, Spanair, Braathens, Widerøe's and Air Botnia 1. The SAS Group August traffic development - highlights · The group transported a total of 3,0 million passengers in August 2002 vs 2,3 million in 2001, an increase of 34%. (Spanair and Braathens excluded from 2001) · Overall group passenger load factor increased 3,4 p.u to 69,6%. · Scandinavian Airlines traffic (RPK) decreased by 5,0%. · Scandinavian Airlines passenger load factor increased by 2,4 p.u. to 71,0% · European passenger load factor increased by 3,3 p.u Improved passenger load factors, but weaker yields in Scandinavian Airlines The passenger load factors for Scandinavian Airline continued to improve in August and reached higher levels on the important European routes. Among the group's airlines Braathens showed a record increase in passenger load factor of 9,5 p.u. following a successful summer campaign. Early indications of passenger yield show-increased pressure on yields for Scandinavian Airlines as a result of campaigns and other market activities. It is important to note however, that August is a month with larger amounts of leisure oriented traffic and therefore not a typical traffic month for Scandinavian Airlines. The exceptional weather in Scandinavia may also have impacted air travel negatively in August. The continued improvements in passenger load factors are still comforting, but the yield development is weaker in August than expected. The traffic and yield outlook remains unchanged for the coming months, but the uncertainties has increased. 2. Investor news Structural changes - improved capacity utilization As part of the structural changes in the SAS Group it has been decided that Scandinavian Airlines as from this winter program will adapt a better balance between supply and demand. This will reflect the demand and seasonality in a better way and will make it possible for Scandinavian Airlines to increase its cabin factors compared with previous years. In the period December-February Scandinavian Airlines has planned to adjust the capacity (ASK) on the total system by -2%. The adjustments will be distributed on intercontinental routes by approx. +19%, Europe routes by approx. +3% and on Intra-scandinavian and domestic routes by approx. -28%. The reduction in Intra-scandinavian and domesitc capacity is primarily an effect of closure of the Greenland route, reduction in Swedish domestic and change of traffic system in Norway as reported in April 2002. Capacity will also be taken out at off-peak flights with very low expected cabin factors and traffic. As larger Airbus A340/330 and A321will add capacity into the European and Intercontinental system, the capacity is expected to increase. Discussions are ongoing for a possible reinstallement of capacity in the summer 2003 traffic programme. Yield development reporting for Scandinavian Airlines As from June traffic report, indications of yield development for Scandinavian Airlines was provided to enable the capital market to estimate the revenue development replacing the traditional passenger mix figures. Due to the introduction of a number of new price concepts the estimates of the yield development has become increasingly complex. To ensure that the most correct number is provided, the SAS group will as from this report provide the yield development with one month's delay. The currency adjusted yield for Scandinavian Airlines in July has been adjusted from the indicated increase of 3-5% to an increase of 2%. As a result of the changes the quantitative indications for yield for August will be reported in the September Investor Info. ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: The Full Report The Full Report

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