Brightline West’s plans to build a high-speed rail line between Las Vegas and Southern California will not be affected by the bankruptcy of a sister company in Florida, a company spokesperson said Monday.
Brightline, which operates a high-speed rail line between Miami and Orlando, filed for Chapter 11 bankruptcy last week and announced it entered into a restructuring support agreement with existing financial stakeholders to infuse $490 million in long-term capital toward the rail line.
“Brightline is a critical part of Florida’s transportation network that has changed the way people move around the state.,” Patrick Goddard, Brightline Florida CEO, said in a statement. “Today’s agreement brings $490 million in new long-term capital to Brightline from the stakeholders who know this business, and it comes at a time of real momentum. “This transaction will be a catalyst for further growth in ridership and revenue. We are grateful to our creditors, advisors, vendors, teammates, and guests for their confidence throughout this process, and we look forward to the bright future ahead.”
Brightline West operates as a separate entity, and Brightline’s bankruptcy has no bearing on its plans, according to company spokesperson Antonio Castelan.
“Our focus remains on completing the financing for Brightline West and moving the project forward,” Castelan said.
Brightline West had hoped to complete the Southern Nevada-to-Southern California rail line constructed and operating by the 2028 Olympic Games in Los Angeles, but the project’s price skyrocketed last year, going from $9 billion to $20.1 billion. Now the goal is to have service running in late 2029, according to Castelan.
Brightline West is being funded with a $3 billion Federal Railroad Administration grant and from proceeds from $2.5 billion in private activity bonds issue by Nevada and California.
Brightline West is still awaiting word on a $6 billion loan it sought from the federal government.
Brightline West is planned as a 218-mile system running from a station on Las Vegas Boulevard between Blue Diamond and Warm Springs roads to a station in Rancho Cucamonga, California, with additional stops in Southern California along the way. Riders will be able to link to downtown Los Angeles by connecting to the Metrolink passenger rail system at the planned Rancho Cucamonga station.
Last year, crews began sewer line work and building a parking garage on a portion of the 110-acre Las Vegas Station site. Work appears to have halted on the parking garage, with crews not seen on site for several months.
Contact Mick Akers at makers@reviewjournal.com or 702-387-2920. Follow @mickakers on X.
