October 20, 2025
The Verijet Chapter 7 bankruptcy filing follows founder Richard Kane’s death last month, a slew of lawsuits, and $38.7 million in liabilities.
The receiver for Verijet filed for Chapter 7 bankruptcy yesterday.
The filing was in the United States Bankruptcy Court for the Southern District of Florida, 11th Circuit.
At its peak, the 2020 start-up ranked as the 13th-largest U.S. operator based on charter and fractional flight hours in 2023.
Verijet built its fleet on the single-engine Cirrus SF50 Vision Jet.
A copy of the filing can be downloaded at the bottom of this story.
It follows the death of founder Richard Kane, which occurred last month and was not publicly announced.
Kane and Verijet had been facing an onslaught of lawsuits and judgments.
A representative to oversee the company was appointed in June.
According to the filing, Verijet has $2.5 million in assets, primarily from an insurance claim related to N15VJ, a Cirrus SF-50 Vision Jet.
The filing shows $200 of office furniture and no cash.
There are $38.7 million in liabilities.
A review of the filing by Private Jet Card Comparisons found 81 jet card customers who had a cumulative balance of $10.5 million.
The average jet card balance was $129,697.
Thirty-nine customers had over $100,000 in funds with Verijet at the time of the filing.
Four clients had over $450,000 with the grounded private jet charter operator.
The biggest balance was $728,000.
Other debt was related to judgments and other debts.
The judgments included jet card clients, trade accounts, and aircraft lessors.
Additional money was owed to a bevy of trade creditors, from FBOs to fuelers, as well as former employees.
READ: Buying Prepaid Jet Cards: Fly, Bank or Bust?
The fast-growing, very light jet operator took off in 2020 and, by 2022, was the 30th-largest charter/fractional provider in the U.S.
Kane envisioned expanding Verijet with hundreds of single-engine Cirrus SF50 jets.
He quickly expanded from a service area in Florida and the Southeastern U.S. to the West Coast, Texas, and the Northeast.
Hourly rates started at just $3,500, with discounts for jet card flyers going as low as $2,500.
By the end of 2023, Verijet had moved to the 13th spot.
At the same time, he ran into legal and boardroom headwinds.
Kane briefly exited in 2023 only to return months later.
Current FAA data show that as of mid-September, Verijet had three Cirrus jets on its charter certificate.
However, FlightAware shows that only one of the three SF50s had flown in the past three months.
N35VJ last flew on Aug. 8, 2025, from Charlotte/Monroe Executive Airport in North Carolina to Kissimmee Gateway Airport in Florida.
At its peak, the company operated approximately 20 of the small jets.
Verijet was the subject of multiple lawsuits from customers, lessors, and former employees, alleging that it failed to pay bills or deliver promised jet card and ad hoc charter flights.
Most cases resulted in default judgments because Verijet failed to respond to the complaints.
In April of this year, Verijet was hit with a $325,000 default judgment from a jet card client.
Charter broker Jettly had obtained two default judgments against Verijet earlier that month.
That followed a $3.4 million judgment in favor of Vision Leasing 241, LLC at the end of 2024.
Last month, a former employee, Brandyn Strawder, sought a default judgment for more than $100,000 in back wages and penalties.
In August, GHO Aviation sued Kane and Verijet, alleging false representations and seeking the return of $150,000 that it had invested in the operator in September 2024.
Kane had claimed Verijet had or was close to securing new financing on several occasions.
Last December, he said Verijet was pivoting to the aeromedical market.
Kane said the company had entered a partnership with Buckeye Transplant Services, which operates 65 transplant centers in the U.S.
He also said there is an MOU with a family office representing First Nations in Canada to support medical flights to support indigenous rural populations.
When he returned in November 2023, Kane claimed he had secured $85 million.
At the time, he said, “Solaino’s initial infusion of $85 million of working capital into Verijet empowers and advances our efforts in the journey toward decarbonizing and democratizing private travel and business expansion.”
In February 2023, Verijet announced plans for an IPO via a SPAC merger.
Before launching Verijet, Kane had founded companies in telecom and later in flight scheduling optimization for private jet fleet operators.
DOWNLOAD: Verijet Chapter 7 Bankruptcy filing
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