Air France to cut 7,500 jobs with recovery seen years away

Air France-KLM plans to cut more than 7,500 jobs at its French arm, amid warnings that its future is on the line. Europe’s second-biggest airline will eliminate 6,560 positions at its Air France flagship, while its regional carrier Hop! will lose 1,020 posts, the company said Friday. The cuts will take place over the next three years. In all, the reductions amount to about 17% of the workforce in those units. So-called natural departures, such as retirements and employees who leave on their own, are expected to make up about half the reductions. The airline said it’s not expecting business to return to last year’s level before 2024. During the worst days of the coronavirus health crisis, revenue fell by 95% and losses topped E15m a day. “Recovery looks set to be very slow due to the uncertainties regarding the health situation, the lifting of travel restrictions and changing commercial demand,” Air France-KLM said. The company briefed unions Friday on the measures, part of a strategic review ordered by CEO Ben Smith aimed at securing the company’s future.<br/>