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We see the Brightline orange train crossing Boynton Beach on Thursday, January 18, 2018. Brightline trains can reach speeds of up to 79 mph south of West Palm Beach and up to 110 mph on the Treasure and Space ribs.
LEAH VOSS / TCPALM
A Brightline train traveling north runs through East Ocean Avenue and Northeast Fourth Street to Boynton Beach. In January, Jeffrey D. King, 51, of Boynton Beach, was killed by a train as he was pedaling around the doors, the second victim of a Brightline train in a week.(Photo: LEAH VOSS / TCPALM)
Brightline will be renamed Virgin Trains USA as part of a new partnership with Richard Branson's Virgin Group, the railroad announced Friday morning.
Virgin – the parent company of Virgin Atlantic Airlines and more than 60 media, entertainment and hospitality brands – will become a minority investor in South Florida's passenger railroad, according to Brightline.
But the powerful new affiliation is not without cost.
Brightline has been building its brand since 2015 and was about to bring its colorful logo across the country with a planned expansion in California and Las Vegas. The railway will forego three years of intense branding efforts in exchange for the Virgin name, recognized internationally.
The partnership with Virgin also has financial benefits and could provide an injection of money to the $ 4 billion train, which began serving Fort Lauderdale, Miami and West Palm Beach earlier this year, and plans to launch a Full service Miami to Orlando from here 2021..
Brightline is currently trying to finance construction between the second phase of the project between West Palm Beach and Orlando International Airport.
The Company has sought various financing options for the second phase and is now in the December 31 deadline for the sale of exempt bonds of $ 1.15 billion.
The unaudited financial statements reveal that Brightline experienced difficulties in the first half, losing $ 28.2 million in the first quarter of this year and $ 28.3 million in the second quarter. The railroad began West Palm service in Fort Lauderdale in January and expanded to Miami in May.
The UK's existing high-speed train in the UK, also known as Virgin Trains, has experienced its own financial difficulties and has faced criticism earlier this year for accepting a government bailout.
More: Brightline enters the first stage of expansion between Orlando and Tampa: no competition
On Friday, officials from Virgin and Brightline expressed their enthusiasm for the new partnership.
"Brightline is at the forefront of innovation in this market and is the ideal partner with which Virgin works to change perceptions and travel habits across the United States," wrote Branson in a blog post on the Virgin website.
Edens Friday said that working with Virgin was "another leap forward" for Brightline.
"Virgin has built a respected and trusted brand in the areas of travel and hospitality," Edens said in a press release. "With our common goal of customer experience, fueled by a culture of innovation and disruption, we are well positioned to build our success."
This new partnership is the latest in a series of major developments announced this year by the company.
In June, Brightline revealed that it would continue its expansion from Tampa to Orlando along state-owned rights-of-way.
Then, in September, Brightline announced plans to buy the rights to build a high-speed railroad between Southern California and Las Vegas. The service will be launched in 2022 and could eventually expand into the Los Angeles area, according to Brightline.
Brightline's current management team will continue to oversee day-to-day operations, engineering, business development and strategy, the company said Friday.
More: Treasure Coast deserves a Brightline train stop (or two) | Our point of view
More: Counties spent $ 7.2 million fighting Brightline; what a waste | Thumbs down
Read or share this story: https://www.usatoday.com/story/travel/destinations/2018/11/16/brightline-virgin-trains-usa/2027361002/
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