SAS Group 2005 January Traffic figures:Yield and traffic growth improving

Highlights from the SAS Group traffic report released today:

· Total passenger traffic (RPK) increased by 8,1% in January 2005 vs 2004.

· The SAS Group transported 2,2 million passengers in January 2005, an increase of 6,5%.

· Overall group passenger load factor decreased by 1,0 p.u. to 55,1% for January 2005 vs. 2004.

· Yields continued to improve.

Group traffic growth improved in January, but passenger load factor continued to develop weaker than last year.

The best performing companies in the group was SAS Braathens and Blue1 showing strong growth and a 6 p.u and 14,5 p.u. improvement in passenger load factor respectively

Yield for Scandinavian Airlines in December 2004 was up by 12% vs. 2003 due to improved yield management and full effect of fuel charges. This increase is the first reported since May 2001.

The increase was particularly strong in December due to a different holiday pattern and weak comparable figures. Yield for January will be reported next month, and is expected to be flat or slightly positive.

In summary, yields are expected to improve slightly vs 2004, but due to the situation with continued overcapacity and the competitive situation and price pressure in many markets, the overall outlook remains cautious.

SAS Group’s 4th Quarter result will be reported February 10 at 08.00 CET.

For further detailed information please refer to the full traffic & capacity report also available on sasgroup.net.

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