The SAS Group Traffic figures - September

The SAS Group Traffic figures September 2003

The SAS Group
· Total passenger traffic (RPK) increased by 1,6% vs 2002.
· The SAS Group transported a total of 2,9 million passengers in
September 2003 vs 3,1 million in 2002, a decrease of 4,9%.
· Overall group passenger load factor decreased by 2,1 p.u to 67,3%
for September 2003 vs. 2002.

Market trends and yield development
The traffic development in September showed an increase, but continued
pressure on passenger yields. Overall passenger load factor decreased
2,1 p.u. and passenger traffic increased by 1,6% during September.
Braathens traffic increased in September driven by the positive
development on international routes. Spanair’s traffic improved in
September with load factors up 1,1 p.u. vs. 2002.

Additional pressure on yields was expected for August and the outcome
showed yields down 15% month by month and 12% for the period Jan- Aug.
August was caracterized by a significant number of low fare campaigns in
Europe. Indications of passenger yield development for Scandinavian
Airlines in September show a continued pressure, but slightly less than
August. Yields on the European routes were down 18% in August (European
yields are also affected by the introduction of the new low fare
initiative Snowflake with 9-10 p.u. effect on European yields).

A record amount of low- fare tickets were sold during the summer period.
More than 130.000 round trip tickets of SEK 1200 or less were flown
during August. This trend is expected to continue as Scandinavian
Airlines proactively lower prices in light of increased competition.

The overall yield development in August and indications for September
shows continued pressure on yields for the coming months, but load
factors and traffic development is set to improve. Forceful cost
measures are under implementation to secure a sustained profitability
level in a lower yield environment. Due to the situation with continued
yield pressure, the outlook remains cautious.

For further information Please contact Head of SAS Group Investor
Relations Sture Stølen + 46 8 797 1451 sture.stolen@sas.se

Homepage: www.sasgroup.net

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http://www.waymaker.net/bitonline/2003/10/08/20031008BIT00230/wkr0001.doc The full report
http://www.waymaker.net/bitonline/2003/10/08/20031008BIT00230/wkr0002.pdf The full report