The best bound available is due to Bucić and Montgomery [BM22], who prove that $O(n\log^*n)$ many cycles and edges suffice, where $\log^*$ is the iterated logarithm function.
Conlon, Fox, and Sudakov [CFS14] proved that $O_\epsilon(n)$ cycles and edges suffice if $G$ has minimum degree at least $\epsilon n$, for any $\epsilon>0$.
See also [583].
When $k=2$ this was conjectured by Kneser and proved by Lovász [Lo78]. The general case was proved by Alon, Frankl, and Lovász [AFL86].