01 July

The aerospace giant Airbus says it will cut around 15,000 jobs because of plummeting demand for planes due to the coronavirus pandemic.

The European aircraft maker announced on Tuesday that it plans to slash its workforce in Germany, France, Britain and other parts of the world by summer 2021.

It says the company needs to adapt its workforce because its commercial aircraft business has plummeted by nearly 40 percent in recent months due to the "unprecedented crisis."

It also cites a forecast that air traffic may not recover to pre-virus levels until 2025.

Airbus Chief Executive Officer Guillaume Faury said in a statement that the company is facing the "gravest crisis" the industry has ever experienced. He added, "We must ensure that we can sustain our enterprise and emerge from the crisis."

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