- Industry Realignment: The Chapter 7 filing of Verijet underscores the volatility of the private aviation sector and creates new opportunities for disciplined operators.
- Flyte's Advantage: Creatd's Flyte platform is expanding intelligently across Florida, the West Coast, and New York, emphasizing sustainable, structured growth.
- Leadership Perspective: CEO Jeremy Frommer says Flyte's approach "balances vision with financial reality, building something that lasts."
NEW YORK, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Creatd, Inc. (OTC: CRTD) today announced that its lead aviation subsidiary, Flyte, is poised to expand following the recent Chapter 7 bankruptcy filing of Verijet, a Florida-based charter operator once hailed as a leader in sustainable private aviation. While Verijet's abrupt collapse highlights the risks of overextension in a fast-evolving market, Flyte represents a disciplined and technology-driven path forward for the sector.
Flyte was designed to scale the modern charter business without sacrificing operational integrity. As Verijet's assets enter liquidation, Creatd and Flyte see an opportunity to strategically strengthen their presence in key markets including Florida, the West Coast, and New York by integrating valuable routes, infrastructure, and talent.
"We're not celebrating anyone's downfall," said Jeremy Frommer, CEO of Creatd and founder of Flyte. "But the truth is, the industry needs a reset. Flyte was built on the foundation of learning from others' mistakes, structured operations, real accountability, and technology that actually works. We're ready to step in where Verijet left off, with a model that can last."
Verijet's closure leaves behind its fleet of Cirrus Vision Jets, unused infrastructure, and a network of customers, creditors and partners seeking continuity. Flyte has expressed interest in open dialogue with these stakeholders to ensure the regional jet model continues to evolve responsibly.
"We're not shy about absorbing pieces of this business," Frommer added. "If there's value, be it aircraft, routes, or talent, we'll look at it. The plan is simple: bring the right assets under Flyte, keep the best people flying, and do it with the discipline Verijet lost along the way."
Once the 13th-largest private jet operator in the United States, Verijet's failure underscores a key lesson: scale without stability is unsustainable. Flyte remains focused on steady, deliberate growth across its three divisions, Flyte Luxe, Flyte Hops, and Flyte Escapes, each serving distinct segments of the modern travel market.
"There's no room anymore for smoke and mirrors," Frommer said. "The next generation of aviation companies, ours included, must balance vision with financial reality. We're building something that lasts."
For further information, contact:
Creatd, Inc.
Creatd Investor Relations
ir@creatd.com
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