Virgin Rail née Brightline/AAF Orlando - Miami FL FEC

This is a forum for all operations, both current and planned, of Virgin Rail USA formerly known as Brightline, and Virgin Worldwide Rail operations, past and present.
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Gilbert B Norman
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Gilbert B Norman » Sun Sep 30, 2018 7:39 pm

Bonevalleyrailfan wrote:Mr. Norman, it is unusual I admit, at how far AAF (now known as Brightline in their legal filihgs) has come.
Here is confirmation of the new corporate name - Brightline Trains. LLC:

https://www.bloomberg.com/profiles/comp ... trains-llc" onclick="window.open(this.href);return false;

Noel Weaver
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Noel Weaver » Sun Oct 07, 2018 6:02 pm

Since the Brightline topic has been put on the passenger section I have not been able to access it, has anybody else?
Brightline National Operations
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dgvrengineer
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by dgvrengineer » Sun Oct 07, 2018 6:56 pm

I get a message saying "You do not have the required permissions to read topics within this forum". I figured the topic has a gremlin.

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BandA
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by BandA » Mon Oct 08, 2018 12:59 am

Same. And I have no write access to the help topic. I sent a pm to Jeff Smith who is the site admin and moderator of the help topic, and did not receive a response.

andegold
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by andegold » Mon Oct 08, 2018 1:37 pm

I messaged John Perkowski (the listed mod of that topic) the day it went up. Haven't received a response yet.

David Benton
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by David Benton » Mon Oct 08, 2018 5:17 pm

Which topic are we talking about? Unless it has a padlock , everyone would be able to access it.
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The only train trips I regret are the ones I didn't take.

andegold
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by andegold » Mon Oct 08, 2018 5:27 pm

viewforum.php?f=208" onclick="window.open(this.href);return false;

David Benton
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by David Benton » Mon Oct 08, 2018 7:30 pm

Ok, i can't get in either. Looks like a new forum that hasn't been activated yet.
Moderator worldwide railfan , Rail travel & trip reports
The only train trips I regret are the ones I didn't take.

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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by nomis » Mon Oct 08, 2018 9:40 pm

The new forum will be brought online soon, with topics moved and “shadow” copies placed I’m the original forums.
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Arlington
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Arlington » Sat Oct 13, 2018 8:36 pm

I was on the Beach Line 528 tollway in Orlando today and noted that the flyovers at Innovation Way seem to have left room for somebody to run a ROW straight under the interchange. Is that for HSR?
Dropped Pin
near Orange County, FL
https://maps.google.com/?q=28.450831,-81.171237" onclick="window.open(this.href);return false;
"Trying to solve congestion by making roadways wider is like trying to solve obesity by buying bigger pants."--Charles Marohn

bostontrainguy
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by bostontrainguy » Sun Oct 14, 2018 10:55 pm

Arlington wrote:I was on the Beach Line 528 tollway in Orlando today and noted that the flyovers at Innovation Way seem to have left room for somebody to run a ROW straight under the interchange. Is that for HSR?
Dropped Pin
near Orange County, FL
https://maps.google.com/?q=28.450831,-81.171237" onclick="window.open(this.href);return false;
I also checked Google Earth recently and you can clearly see where Brightline is going to go in many places. They are moving fast. The more interesting location question is how they are going to connect this new east-west branch to their existing north-south mainline.

Arlington
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Arlington » Mon Oct 15, 2018 1:43 pm

MCO Terminal C (the new, empty rail hub) is open and has a Brightline field office. The parking, APM, and rail bridges are all there (I am sitting in the empty hall as I type).

The rest of C (international airport side) is still in the pile-driving stage)
"Trying to solve congestion by making roadways wider is like trying to solve obesity by buying bigger pants."--Charles Marohn

gokeefe
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by gokeefe » Mon Oct 15, 2018 7:50 pm

Wow ... They really aren't joking around.
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Gilbert B Norman
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Gilbert B Norman » Tue Oct 16, 2018 7:24 am

Hate to turn off the shower's hot water, BUT:

https://www.mypalmbeachpost.com/busines ... 4OqSoAGATM" onclick="window.open(this.href);return false;

Fair Use:
..Total ridership for the first half of the year was 180,870, just 16 percent of the 1.1 million passengers Brightline told investors in December that it expected for the full year of 2018.

“They are lower than anticipated," said Stacey Mawson, director at Fitch Ratings, the only agency to issue a grade for Brightline’s $600 million bond issue. "But on the bright side, the trends do seem strong.”

In one caveat, Brightline’s projection of 1.1 million passengers was based on the service launching in late 2017. Brightline started carrying passenger in January, and Brightline didn’t ramp up its full schedule until early August, when its daily service went from 11 round trips to 16 round trips between West Palm Beach and Miami.

Fare revenue increased to $1.54 million in the second quarter, up from $663,667 in the first quarter. Brightline’s revenue for the first half totaled $2.2 million, just 9 percent of the $23.9 million in revenue it predicted for 2018.

The private rail service reported a net loss of $28.3 million for the second quarter, compared to a loss of $28.2 million in the first quarter.

Brightline reports its financial results because it sold bonds worth $600 million to investors in late 2017 to finance its service between West Palm Beach and Miami. Fitch rates the bonds BB-, a junk-bond grade that reflects “an elevated vulnerability to default risk.”….“There’s no compelling reason to believe it’s actually going to work,” said Matt Fabian, a partner at Municipal Market Analytics, a bond research firm in Concord, Mass.

Brightline seeks to raise an additional $1.15 billion to pay for its expansion to Orlando and possibly Tampa.
Once again, I'll be first to acknowledge that I have been sorely mistaken about the objectives of the initiative. It appears that they actually had the intent to operate passenger trains.

I'm not sure if they have yet floated the $1.5B issue to "build it out", but with the first $600M issue being deemed below investment grade, the larger is surely same. Both are or will be privately placed - and, absent a covenant within the Indenture, shielded from those prying eyes of Gannett and Gate House Media (new Post owners) reporters.

But I have learned that regardless of who is Florida's next Governor, Brightline (lest we forget, AAF has joined RAILPAX wherever...) will have friends in Tallahassee. For all anyone knows, "what if it flops" plans are being formulated how to best hide the public funding.

Jadebenn
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Jadebenn » Tue Oct 16, 2018 12:40 pm

Gilbert B Norman wrote:Hate to turn off the shower's hot water, BUT:

https://www.mypalmbeachpost.com/busines ... 4OqSoAGATM" onclick="window.open(this.href);return false;

Once again, I'll be first to acknowledge that I have been sorely mistaken about the objectives of the initiative. It appears that they actually had the intent to operate passenger trains.

I'm not sure if they have yet floated the $1.5B issue to "build it out", but with the first $600M issue being deemed below investment grade, the larger is surely same. Both are or will be privately placed - and, absent a covenant within the Indenture, shielded from those prying eyes of Gannett and Gate House Media (new Post owners) reporters.

But I have learned that regardless of who is Florida's next Governor, Brightline (lest we forget, AAF has joined RAILPAX wherever...) will have friends in Tallahassee. For all anyone knows, "what if it flops" plans are being formulated how to best hide the public funding.
I'm still withholding judgement. The initial projections assumed an earlier (and full) opening than what actually happened. With MiamiCentral opening much later than the rest of Phase I, and with the rest of Phase I opening later than anticipated, we're easily one-to-three months behind the timeline of the initial ridership projections. The investors clearly expected a "ramp-up" section of the rollout, and I believe we're still in it.

I also wouldn't discount the fact that the West Palm Beach - Miami segment isn't the system's whole extent. It's quite possible that the Orlando ridership was always intended to cover the losses of the initial segment.

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