Florida high-speed train provider Brightline will continue
to operate despite certain parent companies having filed for Chapter 11
bankruptcy protection, the company announced Friday.
As part of a restructuring support agreement, stakeholders
in the rail system have committed to provide $490 million in new long-term
capital to Brightline Trains Florida consisting of $140 million of additional
senior debt and $350 million of new junior debt.
The RSA required that some parent entities file for Chapter
11, which they did in the U.S. Bankruptcy Court for the District of New Jersey,
but Brightline Trains Florida, which runs trains between Orlando and Miami, is
not part of that Chapter 11 process and "will continue to operate in the
ordinary course under the leadership of its existing management team,"
according to the company.
"This is a financial restructuring that is not expected
to impact operations," affiliate Brightline Train Development CEO Nicolas
Petrovic said in a statement. "It will give Brightline the balance sheet
to match the growth we're already seeing across the business. Brightline
continues to grow and the business is strong."
Brightline reported a 17 percent year-over-year increase in
revenue for the first eight months of 2026.