Same thing came up in the OneWorld thread. I frankly don't see why they should rush into joining any of the alliances. It's an expense they don't need if they keep focus on the core business. Italy does not NEED an airline reaching every corner of the globe, they need a regional airline keeping them connected with Europe and other key destinations nearby (DXB, TLV, TUN, maybe CAI and CMN). Set up codeshares, and let AF, KL, OS, LX, LH, BA, IB, AY, etc. carry Italians further afield for the time being until they can establish themselves as a viable business again.