Virgin's Brightline Train - MIami is on the move

Real Estate

 

Ridership on Virgin’s express train may finally be on track to meet its aggressive targets. 

 

Formerly known as Brightline, the company reported late Friday that March ridership had increased 17 percent over February’s to 91,903 passengers, with revenue increasing 21 percent.

The company is aiming for more than 2 million passengers and revenues of $55.8 million for 2019. So far this year, it has carried approximately 244,000 passengers, grossing $5.9 million. Last year, it carried 580,000 passengers, grossing about $10 million in revenues.

The company continues to promote discounted fares, currently 25 percent off. Ridership has also been boosted by spring travelers and spring breakers, the company said.

“We’ve always projected a multi-year ramp-up and we continue to see steady growth,” company spokesman Ben Porritt said in an email.

 
Brightline also reported that its average fare per passenger has increased from $9 in the first quarter of 2018 to $18 for the three months ended Feb. 28, 2019. In February 2019, average fare per passenger was $19.28.

A year-on-year comparison is not valid, since Brightline did not begin full Miami service until May. The company said in its filing that it is seeing rapid adoption of its service by repeat customers.

The company announced last week it had secured funding to begin building out its $4 billion plan to extend express service from West Palm Beach to Orlando.