It seems like voluntary departures from Airbus will not be enough to help the company recover from the impact of the coronavirus, CEO Guillaume Faury said in a letter to employees on Monday.

Faury stressed that the recovery in aviation over the summer didn't meet expectations. He added: "We must therefore prepare for a crisis that is probably deeper and longer than previous scenarios suggested." Airbus shares were up 3.31% at 2:35 pm CET.

Earlier this summer, Airbus said that it is planning on cutting 15,000 jobs while the French government said that it would prefer voluntary departures.