Who Owns Verijet Airlines and What Happened to Its CEO? Company Files for Chapter 7 Bankruptcy

Verijet Airlines, a private jet company based in the United States, has filed for Chapter 7 bankruptcy on October 9, 2025. The company’s financial collapse comes shortly after the death of its CEO, Richard Kane, which was never officially announced by the company.

CEO Richard Kane Passed Away

Richard Kane, the founder and CEO of Verijet Airlines, died of a heart attack on September 13, 2025, while riding a bicycle. His wife, Allison, confirmed his death through email and a phone interview on September 19.
Despite this major development, Verijet did not issue a public statement, leading to confusion inside the company and among customers.

Heavy Financial Losses

In its bankruptcy filing, Verijet reported $38.7 million in liabilities. The company also held $10.5 million in unused jet card balances from 81 customers. Many of these customers had paid large sums for future flights, with the highest individual balance reaching $728,000.

Verijet operated small Cirrus Vision Jet (SF50) aircraft and once aimed to build a large fleet. However, by late 2025, it reportedly had only three jets, with just one active.

Lawsuits and Customer Complaints

The company faced numerous lawsuits from:

• Former employees

• Trade vendors

• Jet card customers

Many customers claimed their flights were cancelled without refunds. In April 2025, one jet card holder, Brandon Kruse, won a $328,000 judgment after cancelled flights. Verijet often failed to respond to legal cases, resulting in default judgments.

Communication Issues

Before his death, Richard Kane admitted that the company’s jet card program did not guarantee flight service. He said Verijet planned to improve operations but those changes never came.

Industry Context

Verijet’s collapse comes at a time when the aviation industry is already under pressure due to the U.S. government shutdown, which has caused flight delays and staffing problems nationwide.

Current Situation

With Chapter 7 bankruptcy, Verijet will now liquidate its assets. It remains unclear if jet card customers will recover any money.