Florida-based private jet operator Verijet, the 13th-largest in the US, has filed for Chapter 7 bankruptcy. The announcement comes less than a month after the company’s founder and CEO, Richard Kane, passed away from a heart attack.
A receiver overseeing Verijet submitted the Chapter 7 filing last week to the 11th Circuit of the United States Bankruptcy Court for the Southern District of Florida. Under Chapter 7 bankruptcy, businesses liquidate assets to pay off debts. Verijet reportedly owes more than $38.7 million and has faced multiple lawsuits in recent months.
The Passing of a Visionary CEO
Richard Kane died on September 13, 2025. His wife, Allison Kane, confirmed his death via email on September 19. Kane had been working to expand private jet services in the US and Europe, focusing on the single-engine Cirrus Vision Jet (SF50).
Under his leadership, Verijet partnered with major industry players in efforts to streamline private aviation services for business travelers.
Airline Industry Struggles
Verijet is among several airlines to face financial collapse this year. Scandinavian carriers Play and Braathens Aviation shut down operations in September, while Ravn Alaska, Air Belgium, and SKS Airways in Malaysia also closed earlier in 2025.
Even larger airlines made unexpected moves: WizzAir and Qantas Airways closed branches in Abu Dhabi and Singapore, highlighting ongoing global challenges for aviation operators.
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