After just five years in business, U.S. private airline Verijet has filed for bankruptcy following the death of its founder and CEO , Richard Kane.

The airline, which touted itself for offering a more eco-friendly flying experience with “ 100% carbon neutral flights ,” filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Florida on Oct. 9.

Under Chapter 7 bankruptcy, businesses enter a liquidation process where the debtor, in this case Verijet, sells its nonexempt property and gives the proceeds to creditors.

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Unlike Chapter 11 bankruptcy, Chapter 7 does not involve a reorganization plan, and usually signals the end of a company.

Court filings show Verijet filed wit

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