The parent company of Singapore Airlines recorded its first quarterly loss since 2003, a S$307 million (US$211 million) net deficit

for the quarter ended 30 June, versus a S$359 million (US$247 million) net profit a year earlier. The company cited "a combination of the global economic downturn, the outbreak of Influenza A (H1N1) and" losses related to fuel hedging. The airline carried 20 percent fewer passengers during the quarter.