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May 29, 2009

All Nippon Airways Co., Asia’s second-largest carrier by sales, had a loss in the first quarter as the number of international passengers declined at the fastest pace in six years.

ANA, as All Nippon is also known, lost 29.2 billion yen ($307 million) in the three months ended June 30, compared with a profit of 6.6 billion yen a year earlier, the Tokyo-based company said in a statement today. Sales fell 21 percent to 267 billion yen.

The airline, which posted a loss last year, is suffering from a slump in demand as the deepest postwar recession in Japan and an outbreak of swine flu slash travel demand. Singapore Airlines Ltd., the world’s second-most valuable carrier, also reported a quarterly loss yesterday, its first in six years.

“Swine flu has had a big impact on travel, especially on the China routes.” said Osuke Itazaki, an analyst in Tokyo at Credit Suisse Group. “All Nippon is losing their higher paying passengers.” The carrier flew 20.1 percent fewer passengers overseas in June compared with a year earlier. It was the biggest decline since June 2003 when an outbreak of SARS and bird flu sapped demand for air travel.

Source :- http://www.bloomberg.com