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FLORIDA - Brightline's high speed rail line connecting Miami and Orlando saw record breaking passenger growth in 2024, despite the company still reported a massive financial loss.
According to Brightline’s annual financial report, the Miami based rail operator lost approximately $549 million last year.
Although revenue more than doubled from 2023, the company’s expenses, particularly those tied to debt, kept it deep in the red.
A major refinancing in May 2024 cost Brightline $214 million, and it paid an additional $178 million in interest on its $4.6 billion debt load.
The service, which officially launched its Orlando route in 2023 after more than a decade of development, saw 2.8 million passenger trips in 2024, up from 2 million in 2023.
Over 1.6 million rides were between South Florida and Orlando, marking a dramatic increase from the prior year.
Ticket prices for the Miami to Orlando trip begin at $49 for business class and $89 for premium service, which includes lounge access, snacks, and drinks.
Riders get free WiFi, power outlets at each seat, and one carry on at no charge.
In 2024, Brightline phased out its $10 per ride South Florida commuter pass, replacing it with a 10 trip package at $35 per ride.
The change aimed to prioritize longer distance travelers.
Brightline currently operates six stations, Miami, Aventura, Fort Lauderdale, Boca Raton, West Palm Beach, and Orlando, with new stations planned for Stuart and Cocoa.
As the company pushes forward, its long term viability may depend on balancing luxury service with sustainable financial performance.