Charter & Fractional
Jet It Fractional Provider Files Chapter 7 Bankruptcy
Company launched operations in 2018 and operated 21 HondaJets
Jet It exhibit at EAA AirVenture Oshkosh 2021
The Jet It exhibit at EAA AirVenture Oshkosh 2021 © AIN/Matt Thurber

As first reported by Private Jet Card Comparisons, fractional-share provider Jet It filed for Chapter 7 bankruptcy on December 24, which involves liquidation of any nonexempt assets to pay qualifying creditors. However, in the Chapter 7 filing, Jet It checked a box saying, “After any administrative expenses are paid, no funds will be available to unsecured creditors.”

Launched in 2018 by Honda Aircraft alumni Glenn Gonzales and Vishal Hiremath, Jet It targeted buyers seeking lower costs than traditional fractional-share programs, initially operating HondaJets and later adding other types. Jet It shut down operations in May 2023 after fielding 21 HondaJets.