VOO insolvency: From flying high to crash landing – and the shadow of controversial crypto promises

It was supposed to be a revolution in the aviation industry: booking private jets via an app, as easy as booking a hotel room. With this vision, the Graz-based tech start-up VOO launched with great fanfare a few years ago. Today, however, not much remains of those high-flying plans. Both companies, VOO Aviation Service GmbH and VOO flights GmbH, filed for insolvency on 2 July 2025. The company is burdened with millions in liabilities. But the economic crash landing only tells half the story.

However, there are striking personnel and structural overlaps:

• Personnel overlaps: Entrepreneurs such as Peter Skerl and Gernot Winter appear in leading positions at both VOO and projects such as ZENIQ, Safir and Avinoc. Winter still runs several companies that are active in these circles.
• Joint promoters: The same people appear on social media and in Telegram groups promoting VOO, ZENIQ and XPRO. This suggests a network that is closely intertwined in terms of content and communication.
• Similar business models: VOO also announced a tokenisation process in which ZENIQ tokens could potentially be bought up and exchanged for its own tokens. Such constructs are typical of projects associated with Safir and ZENIQ.

Between vision and illusion

The mechanics are always similar: big announcements and technical buzzwords such as blockchain or tokenisation promise revolutionary business models. But when it comes down to it, the details often remain vague. Critics warn that many of these projects live more off the money of new investors than from real economic returns. Emotional storytelling campaigns, elaborately produced videos and international Zoom calls replace reliable figures or independent audits.

A tarnished name

It remains unclear whether VOO’s software can still be exploited. Industry observers see potential interest from other companies in individual technical components. However, the company’s reputation has been severely damaged. Whether justified or not, the name VOO is now associated with a crypto ecosystem that many investors view with suspicion.

The VOO case shows once again how thin the air can be in the tech and crypto sector. Big words and visionary presentations are not enough. In the end, what counts are reliable products, transparency and integrity. For investors who are dazzled by terms such as blockchain, tokenisation and NFT, the story of VOO is a bitter reminder that not everything that shines technologically will actually take off.

Conclusion

The VOO case is a prime example of how dangerous the combination of grand technological visions, speculative crypto promises and non-transparent structures can be. At first glance, the Graz-based start-up appeared to be an innovation for the aviation industry. However, behind the glossy presentations and blockchain buzzwords, there was apparently a lack of technical substance, a viable business model and, ultimately, investor confidence. The fact that there are personnel and communication overlaps with well-known crypto projects such as Safir, ZENIQ and XPRO reinforces the scepticism.

Although there is no legal evidence of illegal behaviour or direct cooperation to date, the parallels in approach and the personnel links raise questions that the company has so far been unable to answer convincingly.

For investors and the entire industry, VOO remains a warning: visions alone are not enough. Especially at the interface between technology and crypto, transparency is the only real currency. Those who focus on appearances rather than substance risk not only investors’ capital, but also their reputation.

Note: This article is intended solely for information, journalistic analysis and independent opinion-forming within the meaning of Article 5 of the German Basic Law and Section 51 of the German Copyright Act (UrhG) (right to quote). All information is based on publicly available sources, official communications and careful editorial research. Despite the utmost care, we do not guarantee the accuracy, completeness or timeliness of the information contained herein.

Companies, individuals or projects are mentioned on the basis of verifiable research and clearly identified expressions of opinion. This publication is protected by the constitutionally guaranteed freedom of the press. Contributing sources are subject to editorial source protection in accordance with journalistic standards.

Sources: https://linktr.ee/xprotools, Telegram Groups XPRO Channel, Shiiro Official Channel, .One