Brightline proved America wants trains. Can it survive?

The popular passenger rail company is teetering on the edge of bankruptcy.

[Photos: Carline Jean/South Florida Sun Sentinel/Tribune News Service/Getty Images, Eva Marie Uzcategui/Bloomberg/Getty Images, David McNew/Getty Images]

When Brightline first launched its train service in Florida five years ago, it was a turning point for passenger rail in the U.S. The sleek new trains were fast and equipped with features like free wi-fi; the spotless new train stations looked more like modern hotel lobbies than the aging depots used at many Amtrak stops. It was the first privately-owned intercity rail in the U.S. in decades, and boosters argued that it was proof that private companies could build rail faster and better than the government. The route covers more than 200 miles of track and reaches six cities, with the aim to expand.

But now, the startup is teetering on the edge of bankruptcy.  It’s not that riders don’t like the trains; reviews are glowing, and ridership is up 20% over a year ago. Still, Brightline projected faster growth, and it’s saddled with billions in debt. As cash runs low, the company has........

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