Verijet, once hailed as a disruptor in the private aviation industry for its use of the Cirrus Vision Jet, has officially filed for Chapter 7 bankruptcy in 2025. The company, which aimed to make private air travel faster and more accessible through on-demand charter services, has now ceased all flight operations. This marks a major downfall for one of the most talked-about aviation startups in recent years.
Background and Vision
Founded by Richard Kane, Verijet entered the market with ambitious plans to transform private flying into a greener and more affordable experience. Its fleet of single-engine Cirrus SF50 Vision Jets was promoted as eco-friendly, efficient, and capable of serving shorter routes between smaller airports. The company sought to make private aviation accessible for business travelers and families alike, emphasizing reduced emissions and flight time.
At its peak, Verijet operated around 20 aircraft across the United States. It targeted regional markets in the Southeast and West Coast, offering point-to-point service and membership-based jet card programs.
Mounting Legal Troubles
Verijet’s financial troubles became public as early as 2023 when a series of lawsuits were filed against the company. By January 2025, a court ordered Verijet to pay $3.4 million to Vision Leasing 241 LLC due to unpaid lease payments and tax-related damages. This was followed by another $328,000 judgment in April 2025 after a jet card client sued over unfulfilled flights.
In addition to customer complaints, Verijet faced disputes with lessors, former board members, and aviation partners. The accumulation of debt, along with declining customer confidence, eventually led to operational paralysis.
Collapse and Bankruptcy
By mid-2024, Verijet’s fleet had shrunk dramatically, leaving only a handful of operational jets. Despite attempts to rebuild and introduce “secured jet cards” with better consumer protection, the company’s financial position continued to deteriorate.
In October 2025, Verijet filed for Chapter 7 bankruptcy, signaling complete liquidation rather than a restructuring. This decision ended all hopes for recovery or continued operation. Chapter 7 proceedings mean that Verijet’s remaining assets will be sold to satisfy creditors, including customers who had prepaid for flight hours but never received service.
The Human and Industry Impact
The death of founder Richard Kane, who passed away in 2025 at age 60, further compounded the company’s instability. His leadership had been central to Verijet’s operations, and his loss coincided with the firm’s deepest financial struggles.
The bankruptcy has raised serious questions within the private jet sector regarding the safety of prepaid jet card programs offered by small operators. Many customers who paid thousands in advance for Verijet’s flights may only recover a fraction of their money as unsecured creditors.
Source: Private Jet Card Comparisons, AIN Online, The Sun (Travel Section).