Air France-KLM has announced a plan to cut 2,500 to 3,000 jobs over the next 24 months, citing the global economic slowdown and a 9.4% reduction in passengers for the month of March.

The airline says it hopes to make the cuts without the need for compulsory redundancies by not renewing contracts or replacing retiring employees.

The carrier's announcement comes only days after Qantas Airways cut its full-year profit forecast by more than half and said it would have to make job cuts in order survive the economic downturn.