Another airline files for bankruptcy, cancels all flights

While the start of 2025 introduced with it a lot optimism about high traveler numbers, the projections didn’t pan out for every airline.

By September, two Scandinavian airways — Play and Braathens Aviation — left vacationers in different components of the world stranded after out of the blue having to shut down operations amid high-profile bankruptcies.

Earlier in the 12 months, Ravn Alaska, Air Belgium, and SKS Airways in Malaysia all also shut down operations. Larger names such as WizzAir and Qantas Airways shut down their branches in Abu Dhabi and Singapore.

At the end off October, news also broke that constitution provider Verijet was submitting for Chapter 7 chapter. The Vero Beach, Florida-based airline had amassed over $38.7 million in liabilities and confronted a slew of lawsuits when 60-year-old founder Richard Kane died out of the blue from a coronary heart assault at the end of September.

As first reported by an outlet overlaying the non-public jet space, the submitting was submitted in the eleventh circuit of the United States Bankruptcy Court for the Southern District of Florida. Contrary to the more common Chapter 11, Chapter 7 chapter means that the homeowners will not be wanting to restructure or requesting financial help but will head straight into liquidation.

With a fleet of single-engine Cirrus SF50 Vision jets, Verijet ran short-haul flights in different areas of the U.S.

Related: Tourists still stranded after airline goes bankrupt, cancels flights

In 2023, the airline also expanded to the Bahamas and other worldwide locations just like the Dominican Republic, Turks and Caicos, and the Cayman Islands as half of very fast growth since Kane based Verijet at the peak of the Covid pandemic in 2020.

In 2023, Verijet was recorded as the Thirteenth-largest operator of constitution and fractional flights in the nation. Its  $38.7 million in liabilities included over $10.5 million owed to jet card clients (people and companies that lease non-public jet as half of an hourly or daily price for a business model generally used by such operators), as properly as further money owed to plane lessors, insurance coverage corporations, and varied collectors.

In November 2024, buyer Sam Crigman sued Verijet in the Eleventh Judicial Circuit of Miami-Dade County after buying a 50-hour jet card for $147,812 back in March.

The lawsuit claimed there have been  “quite a few delays, canceled flights, and numerous excuses for Verijet’s failure to present the flight companies.” Since Kane’s death, the provider has not been operating flights and is unlikely to run them in the future, since it is asking a choose to go straight to liquidation.