AMSTERDAM (REUTERS) - Passenger traffic has slumped more than 60 per cent at Amsterdam's Schiphol airport, Europe's fourth-largest flight hub, as the coronavirus epidemic shuts down much of the global airline industry.

KLM, the Dutch arm of Air France KLM, has scrapped most of its flights out of its hub in the Netherlands and announced job cuts in response to declining business .

"The number of travellers at Schiphol has now fallen by more than 60 per cent and the number of flights is also falling sharply," the airport said in a statement on Wednesday (March 18).

"Based on global developments, negative travel advice for all Dutch people, EU measures and other worldwide travel restrictions, the number of flights and passengers will further decrease very quickly," it said.