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Jakarta Post

KAI suffers Rp 1.3 trillion loss in first half

  • Mardika Parama

    Jakarta

Jakarta   /   Sat, August 15 2020   /  01:00 am
Workers clean the windows of Senen Station in Central Jakarta on June 29. State-owned train operator PT Kereta Api Indonesia (KAI) has resumed operations of several long-distance train services under strict health protocols. JP/P.J.Leo(JP/P.J.Leo)

State-owned railway operator PT Kereta Api Indonesia (KAI) suffered a Rp 1.35 trillion (US$92.5 million) loss in the first half of 2020 amid a slump in passenger numbers due to the cancelation of trains services during the COVID-19 pandemic, data shows. According to KAI’s financial report released on Aug. 5 on the Indonesian Stock Exchange’s (IDX) website, the company’s revenue fell 38.9 percent year-on-year (yoy) to Rp 7.4 trillion in the first half of 2020. “The COVID-19 pandemic has caused a slowdown in the global and domestic economies, which significantly affected the company’s businesses. The impact currently being experienced by the company is a decrease in passengers and volume of goods,” the report reads. KAI shut down all of its long-distance and local passenger train services in April following the government's ban on the Id...