SAS and Jet Time sign Letter of Intent

SAS and Jet Time have signed a Letter of Intent to enter into an agreement on
the wet lease of four factory-newATR72-600s. The intention is to enter into an
agreement for 36 months, so that the new aircraft can be used on routes from
Copenhagen and Stockholm in the SAS winter timetable 2013-14 and summer
timetable 2014.

“I am very pleased that SAS and Jet Time have agreed to sign a Letter of Intent.
An agreement will give us greater flexibility in our fleet, and ensure that we
can achieve an even more optimal organization of our regional production. I am
therefore looking forward to being able to welcome customers on board the brand
new and very comfortable aircraft under this plan,” says Flemming Jensen, VP
Operations, SAS.

“We are extremely pleased with the confidence which SAS has shown in Jet Time,
and we look forward to contributing to the development of SAS’s regional
networks. We look forward to being able to carry out the interesting and
challenging work that lies ahead. Of course we will do our utmost to ensure that
the cooperation is successful for all parties, not least the many passengers,”
says Klaus Ren, CEO of Jet Time.

The four new ATR72-600s can each accommodate 72 passengers, and will be used on
routes to and from Copenhagen and Stockholm in SAS’s winter timetable 2013-14
and summer timetable 2014.

At the same time, SAS is continuing its wet lease arrangements with Cimber and
Braathens Regional.

“We still enjoy close cooperation with Cimber and Braathens that works to
everyone’s satisfaction. The Letter of Intent with Jet Time will not have any
immediate impact on this cooperation,” says Flemming Jensen.