The company said in a statement on Tuesday that it was responding to a 40% drop in activity in its commercial aircraft business in recent months, and expectations that the recovery will be slow. “Airbus is grateful for the government support that has enabled the company to limit these necessary adaptation measures,” it said. “However 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 to reflect the post Covid-19 industry outlook.” Airbus (EADSF) is at the heart of the European aviation industry. Based in France but with production facilities in Germany, Spain and the United Kingdom, the company has 134,000 employees around the world and competes with Boeing (BA)

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