Bear in mind that European govts cannot give large financial rescues to their former nationalised carriers.
Of the European legacy carriers, Alitalia and Olympic are high up the list to be taken over by others or simply to fail and close and then reopen in the style of Swiss Air / Swiss.
I reckon that British Midland are vulnerable - once the old man has finally retired. Their slots at LHR will make them a prize and it would not be a surprise of LH finally took them in.