Airbus SE Chief Executive Officer Guillaume Faury stepped up his warning that more jobs may have to be cut at the European planemaker as a sharper-than-expected decline in travel leads carriers to push back deliveries of new jets.

“The situation has worsened” coming out of the summer high season, he said Tuesday in an interview on France’s RTL radio. “Airlines are in a more difficult situation after the holidays than what we were hoping.”

The industrial giant, whose cost-cutting plans call for the elimination of 15,000 jobs, will have to “adapt to the new environment,” he added, in particular on the employment front. The shares dropped as much as 2.7%.

“It will be very difficult to stick with voluntary departures,” Faury said, reiterating that the

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