SAS Transfers ”Slot-Pair” at London Heathrow and generates positive earnings impact of US$60m

SAS has entered into a slot transaction with a major international air carrier that will take over one slot-pair at London Heathrow from SAS at the beginning of the summer traffic program on March 29th 2015. The transaction will generate a positive earnings impact of the equivalent of US$60m for SAS to be accounted for during the second quarter of the fiscal year 2014/2015 with a corresponding cash effect during the fiscal year 2014/2015. SAS is the fifth largest airline operating at London Heathrow measured in number of departures and had before this transaction 21 daily slot-pairs at London Heathrow, which now will be reduced to 20 daily slot-pairs. SAS operates from London Heathrow to Copenhagen, Gothenburg, Oslo, Stockholm and Stavanger. Even after the transaction, SAS will continue to offer a strong and comprehensive network between Scandinavia and London Heathrow. The intention is to keep the seat capacity to/from London Heathrow through the use of larger aircraft on remaining departures. Furthermore, SAS will consider the use of other airports in the London-region.