Aerospace giant Airbus has said it is planning to cut 15,000 jobs over the next year, as it is struggling to overcome from the coronavirus.

This job cut will mainly take place in Europe, an AP report said.

“With air traffic not expected to recover to pre-COVID levels before 2023 and potentially as late as 2025, Airbus now needs to take additional measures,” the company said in a statement.

The company plans to shed 5,000 workers in France, 5,100 in Germany, 1,700 in Britain, 900 in Spain and 1,300 others at Airbus facilities elsewhere.

More details of the job cut and their breakdowns are expected to be revealed at the end of the week after the company meet and discuss with various unions.

The COVID-19 pandemic has been catastrophic for the airline industry across the globe. At one point in April, global air traffic dropped by more than 90 per cent.

When the planes are grounded they are not making any money, yet they still need continuous maintenance and that takes a huge sum of money. This leaves airlines dry, making them difficult to afford their current staff and maintain constant conditioning of their existing planes.