Thanks to belt-tightening by business travelers and the rapid growth of Middle Eastern airlines intent on offering even more in-cabin luxury, Singapore Airlines' passenger count has fallen 12% since 2008 -- the biggest drop among 12 major full-service Asia-Pacific carriers. The carrier, controlled by Singapore state-investment company Temasek Holdings, reported a loss of S$38.2 million ($31 million) in the three months ended Mar 31, compared with a S$171 million profit a year earlier. That followed five straight quarters of declining earnings. Adding to the pressure, the price of jet fuel in Singapore has risen 37% since Apr 2010. With its front-cabin business under pressure, Singapore Air's management is moving to increase the airline's presence in the low-fare market.