"My guess is the airline industry will all but collapse over the next 6 months followed by a slow, mainly nationalised rebuild of the strongest and largest carriers to a size somewhat smaller than before."
Agreed - this is the pattern seen n many industries that suffer catastrophic collapse - a terrible 6-12 months for current employees almost all of whom will be laid off with minimal or zero benefits followed by a very gradual return to work spread over 3-5 years. Many will find alternative employment and/or retire and many of those will never come back.