2025 started optimistically for airlines, but Play and Braathens Aviation abruptly shut down operations in September, leaving travelers stranded. Ravn Alaska, Air Belgium, and SKS Airways also ceased operations. Verijet filed for Chapter 7 bankruptcy in October, accumulating $38.7 million in liabilities. The airline had rapid growth since 2020.

Verijet, a charter carrier with a fleet of Cirrus SF50 Vision jets, expanded to international destinations in 2023. By 2023, it was the 13th-largest operator of charter and fractional flights in the U.S., incurring $38.7 million in liabilities. Lawsuits were filed against the airline due to delays and cancellations of flight services.

In November 2024, customer Sam Crigman sued Verijet for failure to provide flight services after purchasing a 50-hour jet card. Since founder Richard Kane’s sudden death, the carrier has not operated flights and is seeking liquidation. Airlines like WizzAir and Qantas Airways also shut down branches in Abu Dhabi and Singapore.

Read more at Yahoo Finance: Another airline files for bankruptcy, cancels all flights