Information on SAS Group Redundancies

The SAS Group has previously announced two step improvement measures amounting to gross SEK 10,4 billion in total. These measures contain short-term measures of gross SEK 6,4 billion with full effect 2003 and structural measures of approximately SEK 4 billion with full effect 2005.

The redundancies in Scandinavian Airlines as a result of the short-term measures was initially estimated to 3 500. As of September 30, 2002 an estimated 1100 full time services has been reduced. Remaining part will be handled through natural attrition and new businesses. The takeover of Braathens ground handling among others resulted in 500 services was taken over by Scandinavian Airlines. Remaining part will be handled during 2003, mainly through voluntary solutions.

2700 redundancies from structural measures in 2005:

The implementation of the structural measures communicated earlier will result in redundancies of approx. 2 700 persons.

The SAS Group will provide more detailed information in conjunction with the 3rd Quarter result next week

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