THE IMPACT OF THE LAUNCH OF THE WHOOSH HIGH-SPEED TRAIN ON THE FINANCIAL PERFORMANCE OF PT KERETA API INDONESIA (PT KAI)

Abstract

A key move to boost transportation services and the company's competitiveness is PT Kereta Api Indonesia's (PT KAI) 2023 introduction of the Whoosh high-speed train. The introduction caused large financial losses that affected PT KAI's financial performance even though it was anticipated to have positive effects. Analyzing the detrimental effects of the Whoosh launch on PT KAI's revenue, net profit, net profit margin, and return on assets (ROA) is the goal of this study. The study employs a paired sample t-test and quantitative analysis using secondary data from the 2023 and 2024 financial statements to investigate the performance gap before and after the launch. All financial indices have significantly declined, according to the results. High investment and operating expenses, the possibility of technical interruptions, and the market cannibalization of traditional services are some of the issues that this study identifies as contributing to losses. Suggestions for enhancing operating efficiency and reducing risk are given.