Airbus is downgrading projected production and delivery of aircraft for 2020 and 2021 by approximately 40 percent. Jobs must also disappear due to the reduced travel demand, CEO Guillaume Faury warns Monday in an interview with the German newspaper Die Welt .

Until now, the aircraft manufacturer officially came up with estimates of a third production shrinkage.

The company needs to restructure in order to adapt to the situation that arose after the global corona outbreak and the measures taken against it. Airbus will not return to pre-crisis levels until 2025, says Faury.

Industry sources predict that due to the shrinkage of production, a round of layoffs must occur in which between fourteen thousand and twenty thousand jobs will be lost. Unions think Airbus will announce initial plans on Wednesday at an emergency meeting. The company itself has not yet released any information about this.

The CEO calls layoffs inevitable. "It is a necessary adjustment to the massive drop in production. It is about securing our future."