The SAS Group Traffic figures November 2005

Continued record load factors in November
• SAS Group load factor for November was up 7,6 p.u. to 65,6%.
• Total passenger traffic (RPK) increased by 16,5% in November 2005 vs 2004.
• The SAS Group transported 3,0 million passengers in November 2005, an increase of 20,8%.
• Yield for October decreased by 7,7%.

Group market trends and yield development
Group total traffic volumes (RPK) developed well in November with an increase of 16,5%. Capacity (ASK) increased by 2,9% resulting in improved load factor of 7,6 p.u. to 65,6%. Number of passengers increased by 20,8% positively affected by new business models and last years conflict in Spanair.

As from September 1st Scandinavian Airlines and Blue 1 have introduced new Business Models with one-way fares and simplified rules on European and Intrascandinavian routes.
The trend with a yield drop to be offset by improved passenger load factor continues.
Yield for Scandinavian Airlines in October was down 7,7% compared with 2004. Yield for November is expected to be somewhat weaker or in line with October.
Some signs of reduced capacity in the marketplace have emerged, but overall and due to the situation with continued overcapacity and the competitive situation with many price initiatives in many markets the outlook remains cautious.

Intercontinental traffic was marginally up in November. SAS Group European traffic increased by 33,2% and passenger load factor increased by 10,2 p.u. due to the introduction of new business models and cancelled flights in Spanair last year due to a labour conflict. Blue 1 in Finland continued with strong growth and traffic increased by21,5%. Spanair’s traffic was up by a strong 36,0% and load factor increased by 5,8 p.u. to 59,9%. airBaltic continued to grow and traffic was up 59,4% driven by strong growth both from Riga and Vilnius.

For further information Please contact VP,Head of SAS Group Investor Relations Sture Stølen
+ 46 8 797 1451 sture.stolen@sas.se Homepage: www.sasgroup.net