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Court ruling by Court of Appeal (Lagmansrett) in Oslo in dispute between SAS and Norwegian

March 16, 2010 17:35

SAS was by the ruling of the district court of Asker og Bærum obligated to pay damages of NOK 132 Million plus legal costs of NOK 6 Million. The damages concerned Norwegians’ claimed losses incurred as a result of Braathens, during the period September 2002 until March 2004, improperly used information regarding Norwegian via the Amadeus booking system and that SAS Group had received an e-mail from a travel agency employee allegedly containing business secrets. SAS Group appealed the ruling claiming that Norwegian had not suffered any financial losses as a result of these events. Norwegian also appealed and claimed higher damages than the awarded sum.

The Court of Appeal (Lagmansretten) Oslo ruled on 16 March 2010 that SAS Group shall pay damages totaling NOK 160 Million plus legal costs. For SAS, this will have a negative effect on results and liquidity of approximately SEK 200 Million.

– We are disappointed by the ruling of the Court of Appeal. We had hoped that this matter had been resolved by this ruling, however, we note that it was not unanimous and we will now examine the ruling further to evaluate whether it should be appealed, says Mats Jansson, President and CEO.

SAS GROUP INVESTOR RELATIONS

For more information, please contact:
SAS Press service + 47 64 81 88 00

SAS discloses this information pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was provided for publication on March 16, 2010, at 5:35 pm CET

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