Several Brightline parent companies are entering Chapter 11 bankruptcy under a restructuring agreement announced Friday, but the company says its Miami-to-Orlando trains will continue operating and passenger tickets remain valid.
Brightline Trains Florida LLC, which runs the service, is not part of the bankruptcy filing. The prearranged case will proceed in federal court in New Jersey.
Existing financial stakeholders have committed $490 million in new financing: $140 million in senior debt and $350 million in junior debt. Brightline says the agreement will reduce its overall debt, although it has not said by how much. More than $4 billion in specified bonds will remain outstanding with no reduction in principal.
The restructuring follows steep losses despite rising ridership. Brightline reported losing more than $233 million in 2025 and another $54 million in the first three months of 2026. The company says ridership rose 14% and revenue increased 17% through August compared with the same period last year.
Brightline serves Miami, Aventura, Fort Lauderdale, Boca Raton, West Palm Beach and Orlando. The company says the bankruptcy process is not expected to interrupt service or its plans for additional stations.
