European aircraft manufacturer Airbus says it plans to eliminate 15,000 jobs over the next year, mostly in Europe, as it struggles with the financial hit from the coronavirus pandemic.

“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.

It plans to shed 5000 workers in France, 5100 in Germany, 1700 in Britain, 900 in Spain and 1300 others at Airbus facilities elsewhere.

Airbus said it wants to start making the cuts within months, from this northern autumn.

It will aim for voluntary departures and early retirements, but also said that compulsory job losses can’t be ruled out.

“Airbus is facing the gravest crisis this industry has ever experienced,” the company’s chief executive Guillaume Faury said in the statement on Tuesday.

“The measures we have taken so far have enabled us to absorb the initial shock of this global pandemic.

“Now, we must ensure that we can sustain our enterprise and emerge from the crisis as a healthy, global aerospace leader.”