Business

PARIS: Air France-KLM, the struggling Franco-Dutch airline group, is looking to cut 5,000 jobs over three years, with about half through voluntary payoffs, French daily Le Figaro reported on Monday.

The newspaper reported Air France-KLM management was counting on 800 people leaving the company through normal attrition, but would also open a voluntary buyout offer for all personnel, including pilots.

KUALA LUMPUR: Cradle Fund Sdn Bhd is keen on setting up a network of angel clubs to further consolidate start-up companies within the country. Cradle, an agency under the Finance Ministry, presently manages the Cradle Investment Programme.

DUBLIN: Irish no-frills airline Ryanair on Monday posted record annual profit on higher passenger numbers and ticket prices but warned that recession in Europe would weaken future earnings.

Profit after tax reached €503 million (RM2 billion) in the 12 months to March 31, up 25% compared with its previous financial year, despite a surge in fuel costs, it said in a results statement.

Ryanair on Monday added that revenues increased by 19% to €4.33 billion in 2011-12, while the number of passengers grew 5% to almost 76 million.

KUALA LUMPUR: As the country’s largest listed property development company by market capitalisation, the UOA group has projects with an estimated total gross development value (GDV) of over RM10 billion in the pipeline to be realised over the next 10 years.

Founded and listed in 1987 as United Overseas Australia Ltd (UOA Ltd), the group is primarily involved in property development, construction and property investment.

PUTRAJAYA: The Carlsberg Golf Classic returns for another thrilling season on the greens of 40 selected golf clubs nationwide — with about 5,000 golfers teeing off on June 3 at Horizon Hills Golf & Country Club in Johor and ultimately at the national final slotted in December at Saujana Golf & Country Club, Subang.

KUALA LUMPUR: KK SUPER MART, the flagship of KK Group of Companies, is expanding its footprint into Asian markets starting with operations in Nepal and Indonesia by end of next year.

Founded by Datuk Dr Douglas K.K. Chai, with humble operations from the ground floor of a shop-house off Jalan Kuchai Lama back in 2001, the 24-hour supermarket chain is looking to open three outlets in Bouddha, Newbaneshwor and Lagankhel in Katmandu this year.

KUALA LUMPUR: Bursa Malaysia Bhd has appointed Datin Azalina Adham as head of strategy and transformation, a newly created position to oversee the exchange’s overall business strategy and transformation initiatives with effect from Jan 1 this year.

Azalina began her career at the exchange in 2001 and has held senior positions in the areas of business and investor development, she is now a member of Bursa Malaysia’s management committee, which evaluates key management and operational matters.

MALACCA: The biggest branch in the southern region was opened recently by Prudential Assurance Malaysia Bhd to cater to its growing number of customers there.

KUALA LUMPUR: The “CIMB Loves New York” debit card contest offers cardholders the chance to be one of the 10 lucky winners for a four-day, threenight trip to New York for two persons with RM10,000 worth of spending money.

SYDNEY: Embattled Australian flag carrier Qantas said Monday it will axe 500 jobs in its heavy maintenance and engineering operations as part of a restructuring to help slash costs.

The move follows an 83% slump in first-half net profit in the six months to December and an announcement it would delay the delivery of two A380 superjumbos by three years as part of spending cuts.