Verijet, a Florida-based charter operator, has filed for bankruptcy and canceled all flights, according to documents obtained and shared by Private Jet Card Comparisons.
The company filed Chapter 7 bankruptcy in the United States Bankruptcy Court for the Southern District of Florida, 11th Circuit, last Thursday (October 9). Verijet, which had a fleet of single-engine Cirrus SF50 Vision Jets, ranked as the 13th-largest U.S. operator of charter and fractional flight hours at its peak in 2023, having only launched as a company three years prior.
The court documents, however, show that the company listed estimated assets between $1 million and $10 million, while facing debts of up to $50 million at the time of its bankruptcy filing. The filing also came one month after the death of CEO Richard Kane, 60, who suffered a fatal heart attack while cycling on September 13.
Kane intended to create a “green air tax” network using SF50 planes that had a lower fuel burn and noise footprint in a network of smaller cities and regional airports. Verijet claimed that its planes’ fuel consumption was estimated to be about 60 gallons per hour, less than the average of more than 100 gallons per hour by the majority of twinjets, and would cut carbon emissions by about 40%.
The company also claimed it would use sustainable aviation fuel whenever possible with the intention of offsetting emissions to reach net-carbon-zero operations. Verijet also sold prepaid flight hours in blocks at rates of $25,000, with average rates of about $3,000 per flight hour and a one-hour minimum per leg, which it marketed as competitive pricing compared to turboprop charter options despite faster point-to-point travel.
The airline did, however, state that flights were “subject to aircraft and crew availability” in its terms, which led to disputes from customers unable to book flights or redeem unused balances due to staffing issues, according to Aerotime.
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