Airbus CEO Guillaume Faury is preparing a plan for restructuring the company amid the COVID-19 pandemic, La Tribune reported as it has obtained Faury's letter addressed to employees.

According to him, the crisis requires adaptation from Airbus and this means a significant reduction in the size of the enterprise.

In the letter, he warned that global air traffic figures will recover not earlier than 2023, and possibly only by 2025.

According to preliminary estimates, COVID-19 restrictions will lead to a 40% reduction in Airbus production in 2020-2021. As the newspaper noted, the company's development plan may be presented in late June - early July, TASS reported.

On June 9, Minister of the Economy and Finance Bruno Le Maire said the French government had decided to allocate EUR 15 billion to support the country's aerospace industry.