Bankruptcy Filed By Jet IT, Ends Operations A fractional-ownership company that pioneered its operations initially with the use of all HondaJets has folded up and filed for Chapter 7 bankruptcy. Jet IT filed for Chapter 7 bankruptcy in December, 2025 after bursting onto the scene in 2018. Their lure was offering lower costs than the traditional fractional-share programs in existence at the time. The HondaJet was the corner stone of their fleet of aircraft and was the only type for a long time, however, they later added other types like the Embraer Phenom 300 and Gulfstream G150.
Jet IT made headlines when they grounded their fleet of HondaJets over safety concerns but this was seen by many as early signs of financial issues in the company. The company voluntarily grounded its fleet of HondaJets in May, 2023 after a HondaJet (not a Jet IT operated specimen) suffered a runway excursion in South Carolina. However, it was important to note that the company had a growing rift and friction with Honda Aircraft Company over operational issues and customer support. The grounding was in May 18, 2023 and very shortly after the company ceased operations.
The financial health of the company was more in question vs the safety concerns relating to the HondaJet that it operated. Yes, the HondaJet experienced 8 runway excursions within the span of a year. However, it cannot be ignored that at the time the company lost approximately 2.6 million the year before and was projected to loose an estimated 23.2 million in 2022.
Fast forward to December 24th 2025, Jet IT seemed to have made a particular request. “After any administrative expenses are paid, no funds will be available to unsecured creditors.” To give an idea of some of the unsecured aspects. Creditors with the largest nonpriority unsecured claims include Carolina GSE ($170,969.65); Embraer CAE Training Services ($116,616); FlightSafety International ($400,981.50); Bank of Utah ($1,575,000); Gogo ($227,775.78); Rocket Fuel Labs ($207,248); The Dixie Building ($176,244.80). Jet IT was known to operate up to 21 HondaJets. ***
