SAS Group finalizes sale and leaseback of six aircraft

As part of the recently launched plan to improve the financial position of SAS
Group, 4 Excellence Next Generation, SAS has now finalized the sale and
leaseback of six Boeing 737-600’s to Deucalion Capital X Limited (advised by the
German Bank DVB Bank SE) and the Irish based engine leasing company ELFC (Engine
Lease Finance Cooperation) acting jointly.

“This sale and leaseback transaction represents an important step in the
improvement of SAS’ financial position. In February, we succeeded with a sale
and leaseback agreement on spare engines and we now further increase our
liquidity from asset sales with this agreement,” said Göran Jansson, SAS Group
CFO.

The sale and leaseback is completed by the end of July. The lease periods are
four to five and a half years.

Net cash effect for SAS Group is estimated at MSEK 500.