Cash Flow
The immediate problem facing all carriers is cash flow, not profits. Right now, another few large-ish airlines in Europe are likely to enter administration and stop flying forthwith. Governmental aid is unlikely. At the same time, some of the bigger and cash-rich airlines will do very well, ASSUMING the ash cloud disperses within 2-3 weeks. (After that time period, if the volcanic ash problem remains where it is, all bets are off).