SAS Traffic Reports: SAS Traffic Figures - February 2014

Regulatory News:

SAS Group (STO:SAS) (OSE:SASNOK)

• The scheduled traffic (RPK) decreased by 0.1%.

• SAS scheduled capacity (ASK) was up by 3.1%

• The SAS scheduled load factor decreased by 2.0 p.u. to 64.8%.

• SAS carried 1.8 million scheduled passengers in February

• The yield and PASK were down 7.4% and 9.5% respectively in January and currency adjusted down 5.2% and 7.3%

Market trends, PASK and yield development Overall, the competition and capacity in the Nordic market intensified combined with a lower growth rate during the end of calendar year 2013. Although SAS has focused on defending its yield, as expected, this development has continued in the first quarter of the 2013/2014 financial year with a negative yield/PASK and low growth. The yield pressure will affect the revenues even further due to the weakening of the NOK versus last year. Demand continues to be strongest on intercontinental routes and relatively stable on routes within Scandinavia, while weaker on European routes.

In February 2014, SAS expects the change in yield and PASK vs. last year to continue to be negative.

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