MARCH 7TH, 2013

SAS and Swissport International signed Letter of Intent: Swissport to take over SAS Ground Handling

Swissport International Ltd. (Swissport) and Scandinavian Airline Systems (SAS)
today announced they have signed a Letter of Intent. The letter creates the
basis for continued negotiations between the two companies, aiming at an
agreement to transfer full ownership of SAS´ Ground Handling in Denmark, Sweden
and Norway to Swissport. As a first step, both parties intend to establish a
joint venture company to which the business and operations of SAS ground
handling and Spirit (cargo handling) will be transferred.

The Letter of Intent is paving the way for continued negotiations between SAS
and Swissport International related to the complete outsourcing of SAS ground
and cargo handling services including the workforce of approx. 5000 full time
employees in Scandinavia.

It is the intention of both companies to establish a joint venture company of
which Swissport will hold 51% ownership and SAS 49%. Swissport will take the
management and operational responsibility of the company that will provide the
ground and cargo handling for SAS and other airline customers in Scandinavia.
SAS will successively transfer full ownership of the company to Swissport.

Per H. Utnegaard, Group President and CEO Swissport International: “I am very
proud of SAS having chosen Swissport as their partner for outsourcing the ground
service business. This is a perfect strategic fit for both companies, and for
Swissport this step into the Scandinavian market is an important part of our
defined growth strategy and our worldwide expansion.”

Rickard Gustafson, CEO of SAS: “The letter of intent is an important achievement
within our strategy 4X Next Generation. Not only is it a significant step
towards delivering the outsourcing solution that we set out for reducing
complexity and securing a flexible cost base. We are also very pleased to
partner up with the world’s leading ground handler, Swissport, who is well-known
for high quality services worldwide. And he continues: “The joint venture model
with Swissport will give us the opportunity to continue delivering SAS’
distinguished quality to our customers as well as securing a smooth outsourcing
process for our employees.”

Swissport International Ltd. provides ground services for around 118 million
passengers and 3.5 million tonnes of cargo a year on behalf of some 650 client
-companies in the aviation sector. With a workforce of around 40,000 personnel,
Swissport is active at 192 stations in 38 countries on five continents, and
generates annual consolidated operating revenue of CHF 1.9 billion.
www.swissport.com