In the wake of Spirit Airlines’ bankruptcy filing and restructuring, another airline has officially gone under. This time, it’s a totally different type of carrier from the low-cost and no-frills Spirit.
It’s Verijet, a private jet startup once hailed as a tech-driven disruptor in the luxury air travel space. According to reporting from the Private Jet Comparisons, a website covering the private jet market, the company filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Florida this week, following the recent death of founder Richard Kane and a string of lawsuits.
At its height, Verijet operated sleek single-engine Cirrus SF50 Vision Jets and ranked as the 13th-largest U.S. operator by flight hours in 2023. But the company’s financials told a grim story: just $2.5 million in assets — mostly tied to an insurance claim — against $38.7 million in liabilities. The filing lists only $200 worth of office furniture and no available cash at all.
Most troubling of all for those who laid out money for future flights, 81 jet card customers collectively lost $10.5 million in prepaid balances. Several clients hold more than $450,000 each in unused flight credits. The largest single balance was a whopping $728,000.
The bankruptcy marks a rough juncture for private aviation customers, who often shell out substantial cash upfront for convenience and guaranteed access.
A private jet alternative rated tops
If you still need a private-style experience without the risk of losing a prepaid fortune — or if you don’t have that kind of cash anyway — JSX is beloved among travelers. The “hop-on” public charter carrier was recently named the No. 1 domestic airline in the U.S. in Travel + Leisure’s 2025 World’s Best Awards for the second year in a row.
Unlike traditional airlines, JSX operates from private terminals, allowing passengers to arrive just 20 minutes before takeoff, skip TSA lines, and board a 30-seat jet with no middle seats, ever. Every passenger gets business-class legroom, complimentary cocktails and snacks, and free high-speed Starlink Wi-Fi. Two checked bags are included (even if one’s a golf bag or snowboard) and bags are returned planeside within minutes of landing.
JSX currently connects 28 destinations, including Burbank, Las Vegas, Dallas, Orange County, and Napa, and continues to expand across the West and into Mexico.
It’s not technically “private,” but it has many of the perks. Crucially, you only pay per seat, not by the hour or with an upfront deposit. So you get the convenience of flying private without the cost. And it might just be a way for Verijet’s former customers to get where they need to go in a pinch.
Read more: This is the best U.S. airline, according to real flyers — so posh, it feels like flying private