The SAS Group Traffic figures March 2008

– SAS Group’s March traffic figuresSAS Group’s traffic increased by 1.4% during March and seat capacity was up by 0.9% vs 2007.

– SAS Group carried 2.6 million passengers in March, down 5.5% vs 2007, due to the Easter holiday.

– Total load factor was up 0.4 p.u. to 73.2%.

Growth and yield are negatively affected by the Easter holiday in March. Group market trends and yield development SAS Group carried 2.6 million passengers in March, which was down 5.5% vs 2007. During the Easter holiday capacity is reduced on shorter routes, as business traffic is lower. Total capacity was up 0.9% and traffic increased 1.4% resulting in an improved load factor by 0.4 p.u. to 73.2%. Yield for Scandinavian Airlines in February was down 5% in line with earlier guidance. The combination of lower yield and higher oil prices is negative for the earnings. For March 2008 the change in yield is expected to be 10%-15% below last year. The Easter holiday is affecting the yield negatively. The SAS Group’s strategy is to offset the record high fuel prices, but it has become more challenging and SAS will come short of this in the 1st Quarter due to the negative yield development. SAS is currently identifying and implementing measures to handle this development.

The market is still characterized relatively by good demand and passenger growth. There are still uncertainties regarding the strength of future economic development as well as the competitive situation. The negative impact from the Q400 situation is estimated to be around MSEK 400 for the 1st quarter 2008 before compensation.