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Verijet Receiver Files for Chapter 7 Bankruptcy in the U.S.

Verijet Receiver Files for Chapter 7 Bankruptcy in the U.S.
The receiver for Verijet, a company specializing in jet printing technology and private aviation services, has filed for Chapter 7 bankruptcy in the United States Bankruptcy Court for the Southern District of Florida. The filing, submitted on October 9, reveals that Verijet holds approximately $2.5 million in assets against liabilities totaling $38.7 million, underscoring the company’s severe financial distress and the impending liquidation of its remaining assets.
Financial Position and Key Assets
Verijet’s assets are primarily linked to an insurance claim against Cirrus Aircraft, stemming from the crash of a 5.2-year-old Vision Jet G2 (N15VJ) shortly after takeoff from Indianapolis Regional Airport on November 25, 2022. The accident caused significant damage, leaving the insurance claim as one of the company’s principal remaining assets. On the liabilities side, Verijet faces 234 unsecured claims, including 81 jet card customers owed a combined $10.5 million. The largest individual claim amounts to $728,000. Other creditors include aircraft lessors, maintenance and repair providers, fixed-base operators, fuel suppliers, original equipment manufacturers, and various aviation-related firms.
Company History and Operational Decline
Founded by Richard Kane, who passed away in September 2025, Verijet initially obtained its Part 135 certificate in August 2020 and experienced rapid growth, expanding its fleet to 20 Vision Jet aircraft by early 2023. Kane had envisioned growing the fleet to over 130 aircraft. However, mounting legal and financial challenges forced the company to downsize significantly, reducing its fleet to just five jets by the end of 2023. As of July 2025, Verijet’s Part 135 certificate covered a Vision Jet G2 stationed in Las Vegas and two Vision Jet G2+ aircraft, with only one remaining active and flying intermittently.
Implications for the Industry
The Chapter 7 bankruptcy filing represents a major development for both the jet printing technology sector and the private aviation market. The liquidation process will likely result in the sale of Verijet’s assets and may lead to job losses among its workforce. Customers and suppliers face potential disruptions due to the sudden cessation of operations, while competitors might seize the opportunity to expand their market share, particularly if Verijet had previously held a significant position in the industry.
Market reactions to the bankruptcy are expected to be mixed. Investors may respond negatively, potentially affecting the stock prices of comparable companies within the sector. The abrupt shutdown also raises broader concerns about the financial stability of other firms operating in the jet printing and private aviation markets.
As Verijet’s assets are liquidated and its operations wind down, industry stakeholders will be closely monitoring how competitors, customers, and investors adjust to the company’s exit from the market.

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