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Air France plans to shed 7,580 jobs, or 17.5% of its current workforce, over the next few years, the company said on Friday, CNN reported.

The airline expects more than 3,500 "natural departures"—through attrition—that will help compensate for the job cuts.

Air France will cut 6,560 jobs by the end of 2022. Its subsidiary HOP!, a regional French operator, will cut 1,020 jobs over the next three years, nearly halving its work force.

At the height of the COVID-19 crisis, the company lost €15 million ($16.9 million) per day, Air France said Friday in a statement.

Air France doesn't expect to recover to its pre-pandemic activity until 2024.

France pledged nearly $17 billion in June to support Airbus, Air France and its wider aviation industry, saying Europe cannot fall behind China and the United States in the global aerospace race as a result of the pandemic.

The €15 billion ($16.9 billion) package included €7 billion ($7.9 billion) in support for Air France.

 

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