America World Airlines Ceases Operations [PW978]

[LIBERTYAIRLINESCEO]

NEW YORK, NY-America World Airlines, New York's Hometown Airline, has filed Chapter 11 today citing extreme financial woes due to high costs.  During this time, America World Airlines will attempt to cut costs and decide on a possible merger with Worldwide Partner Alitalia.  While doing so, planes will be scrapped, and routes will go with them.  Hubs will shrink, and stations will close as AMW has citied high maintenance costs due to a diverse fleet as the primary reason for losing money.  Stay tuned for updates.

[LIBERTYAIRLINESCEO]

America World Airlines has closed its hub in Tel Aviv, Israel today as part of its restructuring plan under Chapter 11.  Though Tel Aviv has been closed, America World Airlines has launched daily service between New York-JFK and Cairo, Egypt as Flight 344.  In addition, the airline has significantly reduced capacity in Europe and has pulled down much of its Paris Operations.  Tel Aviv will retain service to New York and Paris.

[LIBERTYAIRLINESCEO]

America World Airlines has withdrawn its merger proposal today stating that they will emerge from Chapter 11 as an independent carrier.  America World Airlines intends to restructure the entire route network to return to profitability including:
Retirement of all Yakovlev/Caravelle/Tupolev Aircraft (Done)
Restarting domestic routes on larger Boeing/Douglas Aircraft.
Cutting International Capacity.
Closure of Tel Aviv Hub (Done)

[LIBERTYAIRLINESCEO]

America World Airlines and Alitalia-Compagnia Aerea Italiana have agreed to a merger.  The merger will dissolve America World Airlines and strengthen the Alitalia Brand.  We thank all of our loyal travelers for their business and we give our full support to Alitalia.  Effective today, America World Airlines will be rebranded as Alitalia-West until the merger has been completed.  All Alitalia-West flights will be operated by America World Airlines.  Look for many hub closures and station closures as well.  Our first hub to be dismantled will be in Paris.  All service to Asia will end as well in the coming days.  The next step will be closure of our Anchorage Hub and Los Angeles Hub.  From there we will work our way east through Denver, St. Louis, and Raleigh/Durham.  New York-Kennedy will remain a major hub for the new Alitalia-Compagnia Aerea Italiana and many flights will continue to operate, such as service to Daytona Beach and other Florida destinations.  Merger info will be posted over the coming months as the transition takes place.

[LIBERTYAIRLINESCEO]

Alitalia-West which currently operates under the America World Airlines Brand and parent company Alitalia have worked out an agreement to separate once Alitalia-West (America World Airlines) can reduce costs and return to profitability.  As part of the agreement, Alitalia-West will file with the FAA to rename the company America World Airlines for business purposes.  Air Traffic Control, IATA, and ICAO still recognize the carrier as America World Airlines and flight number still appear under the IATA code AMW.  In addition, Alitalia's acquisition is temporary and Evan Kisseloff, CEO of Alitalia-West/America World Airlines along with all board members will reacquire all stocks to regain ownership of the airline once the financial situation improves.  When all is said and done, America World Airlines will have a much smaller route network.  Over time, we hope to gradually build up our presence to pre-Chapter 11 levels.

[shaq]

Hi man XD !
how your airline become bankrupted ?

[LIBERTYAIRLINESCEO]

New York, NY-America World Airlines has ceased all operations today and the company has filed Chapter 7 at a Bankruptcy Court in New York.  America World Airlines was previously acquired by Alitalia, renaming America World Airlines as Alitalia-West, though flights continued to operate by America World Airlines due to operating certifications.  The Kennedy Airport based airline has indefinitely cancelled all flights starting today.
CEO Evan Kisseloff has released the following statement:
“My team and I are deeply saddened by today’s events.  We have failed our loyal customers and staff by ending our flights leaving everyone without a job.  We ask our staff to please forgive us, as we are looking for new jobs now as well.  America World Airlines was a great airline and bought great service to so many new places and in so many great ways.  Thank you for your dedication.”
America World Airlines has scrapped all but four aircraft.  If the time comes where operations are able to restart, the executive team wants to be ready to start up as soon as they can.
In addition, America World Airlines will terminate all lease agreements with its stations with the exception of New York-Kennedy Airport.  The website has been shut down and Frequent Fliers will be able to transfer their Patriot Points into other Airline Programs as they so choose.