The first thing Brightline wants you to know about its bankruptcy is that the trains will keep running.
“BUSINESS AS USUAL,” read a message the company sent to customers after filing for Chapter 11 bankruptcy protection. The move followed months of discussions with bondholders, according to the Financial Times, and will give the privately operated higher-speed rail line time to borrow another $490 million as it strives to increase ridership enough to keep up with payments on $4.4 billion in debt accumulated building, expanding, and operating the railroad.
Despite the setback, trains will continue zipping between Orlando and Miami at up to 125 mph because the filing does not include Brightline Trains Florida, the division that operates the line. It also does not affect Brightline West, which is developing a run from Las Vegas to Los Angeles.
The company began offering service between Miami and West Palm Beach in 2018, then extended service to Orland... Read more
