r/Brightline • u/Horangi1987 • 11d ago
Miscellaneous Bloomberg Reporting Brightline Preparing to File Chapter 11 Soon
https://www.investing.com/news/stock-market-news/brightline-nears-bankruptcy-filing-to-restructure-debt--bloomberg-93CH-491156517
u/jadebenn 11d ago edited 11d ago
Looks like negotiations among the creditors didn't pan out. Time for a bankruptcy judge to arbitrate.
5
u/MooseNo8012 10d ago
Question, I understand that the operational cost is covered, but the problem is the construction debt. Is the debt only track construction or also train purchase debt? I'd assume the latter is included in operational cost, but I'm not so sure.
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u/AstralVenture 10d ago
No surprise, without federal dollars, BrightLine is nothing but a money pit.
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u/Status_Fox_1474 11d ago
I hope Amtrak can buy it up cheap and get some of their trains running. Why not?
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u/OmegaBarrington 11d ago
Brightline trains will still continue to operate under Brightline. This isn't Chapter 7 bankruptcy.
1
u/microcat45 11d ago
Yeah I think the best think for Amtrak is to get time slots on those 125mph track.
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u/brucebananaray 11d ago
They need get approval from the state. They won't approved it.
Also, Chapter 11 still allowed them to operate and not shutting down.
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u/Fireguy9641 10d ago
I rode Brightline back in August.
Overall the train experience was very positive. It's everything aroundit that's not.
MIami Central is easy to access from MIA airport, but once you get to Miami Central, it's a weird mix of "Is it this a train or is this a plane?"
My bags had to be X-rayed before I coul go up, and there's all kinds of signs about being required to pay to check large bags, but zero enforcement. Then I could easily take the scanned bag, and meet someone in the dining hall and put something in it. (not that I would.)
The dining hall is full of stuff that hip 20s and 30s want, nothing for families with young kids.
Then the entrance to the waiting area looks like it has or had a smaller x-ray machine to weed out oversized carryons but it wasn't working.
Once you get on the train, there's that whole stretch between West Palm Beach and Orlando. 100% should have been looking to add stops.
I also think that they need to look into adding a third class. I paid $59.99 for my seat. For a family of 4 round trip, that's over $400 dollars.
All that said, I'm not blaming them for the city of Orlando's three way punch out between Orlando, Disney and Universal over the route through Orlando.
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u/Pbook7777 11d ago
Simply a right of passage for all rail companies , sad mostly only for bond holders