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5/8/2026
Auditors for Brightline Florida flagged significant debts in a 2025 financial statement, raising concern about the private passenger railroad's ability to continue operating, according to a report by the Miami Herald.
The Ernst and Young audit stated that the company "does not currently have the liquid funds necessary to service its debt," or to meet other obligations when they are due, according to the report. Brightline has more than $2 billion in long-term debt; it was supposed to pay $117 million in interest this year but has deferred the payments until mid-June.
The company has been working for months to sell a portion of the business and stated it may be able to negotiate more time to pay interests or a way to pay in ownership stakes, the report states.
Brightline's revenue grew 14% in 2025 to $214 million in sales, short about half the expected growth, according to the report. Ridership also increased in 2025, however, the company still lost $233 million in 2025 from operating costs and interest payments.
Major credit rating agency S&P Global in December 2025 "sharply revised" its case for Brightline, stating that available liquidity depleted faster than anticipated and forecasts that the railroad will default in January 2027.