Brightline’s $2B debt threatens financial derailment

Brightline is narrowing its losses, but the private passenger rail service is hitting a wall of debt that threatens its future.  Outside auditor Ernst & Young raised a red flag in preparing Brightline’s 2025 financial statements, stating the company lacks the liquid funds necessary to service its massive debt and meet upcoming obligations, WLRN reported. The rail operator, a subsidiary of Florida East Coast Industries, faces a June 15 deadline to settle delayed interest payments. To bridge the gap, Brightline is scrambling to sell a stake in the business or negotiate with lenders to pay interest via equity rather than […]This article originally appeared on The Real Deal. Click here to read the full story.