With 2025 approaching, Florida’s higher speed rail train continues to bleed money. Earlier today, the Orlando Business Journal (OBJ) reported that Brightline has lost $493 million in 2024.
A 44% increase in ridership and 211% increase revenue didn’t combine to overcome costs. According to Fortress Investment Group, a major factor for Brightline’s large comprehensive loss was Brightline diverting $218.6 million toward paying off the billions of dollars of debt, and interest expenses increased by $78.9 million.
Brightline’s addition of its Orlando station led to mixed results during the first year. Operating expenses spiked by 111.2% to $212.84 million, primarily due to Brightline’s expansion from within South Florida to Orlando, but Fortress’ report also credited Orlando for Brightline’s revenue spike due to the higher ticket prices for long-distance travel…