No doubt, they'll be bailed out again.
Thats the interesting thing this time round. The current financial crisis makes it verging on the impossible for Berlusconi to just plunge more public cash into Alitalia's black hole of a spreadsheet. If they are to continue in any form I think they have to go bankrupt (they clearly have been for some time to be fair) and start again. The fall out that takes place over the next few years will surely change for good the last few flag carriers who simply don't make a profit and hide behind government handouts.