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.