Report: Brightline Express Trains Ready For December
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MIAMI (CBSMiami) -- Brightline reportedly plans to start some of their express train services between Fort Lauderdale and West Palm Beach in December.
Their service to Miami would start early next year.
According to the Sun-Sentinel, a credit rating agency called Fitch Ratings revealed the plans as part of its analysis of a $600 million bond issue that is being set up to pay for the high-speed passenger service.
Brightline did not comment on the report but did say some trains would start running before the end of the year.
The agency's report says Brightline's potential is good based on the strong revenue made by other passenger rail services in other parts of the U.S.
Nearly 3 million people are expected to ride the Brightline trains annually by 2020, according to an independent ridership study.
That's expected to generate more than $107 million in gross fare revenue.
To add to that, food, drinks, and parking are expected to add more than $34 million a year, the study says.
Fitch Ratings said Brightline would break even if only 56 percent of the expected riders take the trains.
The report did not talk about plans to extend Brightline's route from West Palm Beach to Orlando since that would be financed separately.
