Who owns Verijet Airlines and what happened to its CEO? Private aviation company files for Chapter 7 bankruptcy

Private jet company Verijet Airlines filed for Chapter 7 bankruptcy on October 9, 2025. The startup was launched in 2020, and by 2023, it had become the 13th-largest US operator.

Verijet Airlines' CEO was Richard Kane. He passed away from a heart attack on September 13, 2025, while riding a bicycle. The company did not announce the news.

Kane's wife, Allison, shared the details in an email and a telephone interview on September 19, 2025.

In its court filing, Verijet Airlines mentioned having $38.7 million in liabilities.

According to the Private Jet Card Comparisons website, as of the time of filing for bankruptcy, eighty-one jet card customers had a cumulative balance of $10.5 million.

The average card balance was $129,697, with the biggest balance being $728,000.

The private jet company used a single-engine, light aircraft Cirrus Vision Jet, which is also known as the SF50. Currently, Verijet Airlines has three Cirrus SF50 jets.

However, only one of those has been used in the past few months. For card members, the hourly rate was $2,500.

As per reports, Richard Kane had plans to operate hundreds of Cirrus SF50 jets. According to Forbes, the company expanded from Florida to California, Texas, the Northeastern US, and Canada.

Verijet Airlines faced numerous lawsuits

According to Forbes's October 11, 2025, report, the aviation company was hit with lawsuits from employees, trade vendors, and customers.

The jet card users claimed that their flights were being canceled, and due to them being non-refundable, they were facing thousands of dollars in losses.

In the majority of lawsuits, a default judgment was given as Verijet Airlines failed to respond to the complaints.

In April 2025, the airline's jet card holder, Brandon Kruse, received a default judgment of $328,000 over canceled flights. The last jet card customer lawsuit was filed in November 2024.

As the lawsuits continued to pile up, CEO Richard Kane issued a statement clarifying that owning the jet card does not guarantee service.

However, he noted that the aviation company would improve its service.

"As you know, our current jet card program does not offer guaranteed service. That said, we've taken this experience to heart and used it as a catalyst for positive change," Kane wrote.

In other news, the US government shutdown has affected airlines, resulting in an increase in flight delays and cancellations for consumers.

According to Reuters' October 9, 2025, report, travelers are starting to cancel trips and avoid airports.

Meanwhile, until the shutdown ends, over 14,000 air traffic controllers will not be paid. One anonymous controller from South Carolina told The New York Post that the stress and anxiety were badly affecting their work.

"The financial anxiety doesn't just hurt morale. It directly affects safety... When someone responsible for thousands of lives a day is worrying about whether they can pay rent or feed their kids, focus suffers. Sometimes that small moment where your mind is elsewhere can have serious impacts," they noted.

Stay tuned for more updates on Verijet Airlines and other aviation details.