Whoosh Restructuring Enters Finalisation Stage, Government Prepares Intervention for Debt Burden
Jakarta - The government is preparing interventions to resolve the financial burdens of the Whoosh high-speed rail project amid the finalisation of the restructuring scheme, which is said to be announced in the coming weeks.
Signals of state involvement have strengthened following comments from the Head of the State-Owned Enterprises Regulatory Agency, Dony Oskaria, who stated that settling the project’s debt cannot be burdened solely on the operator, thus requiring government intervention to prevent disruptions to Whoosh’s operational continuity.
“If it is burdened on the railway alone, the railway certainly will not be sufficient to bear the financial load,” Dony said during a press conference at the Coordinating Ministry for the Economy’s office on Tuesday (28/4/2026).
Dony declined to answer explicitly whether the intended resolution points towards restructuring or takeover, but emphasised that the government’s focus is to ensure Whoosh remains “sustainable” both operationally and financially.
“Don’t get caught up in the how of it. The resolution is how Whoosh can be sustainable going forward,” he stated.
According to him, the main issue with the project currently is not operations, but the funding structure deemed burdened by large debts due to an insufficient equity portion. This condition, Dony said, has the potential to pressure business continuity if not addressed promptly.
“What we are resolving is the financial burden. Operations are already running well,” he said.
“The structure will be announced later when we meet with the Minister of Finance,” he added.
This statement was reinforced by the CEO of the Nusantara Future Investment Management Agency (Danantara), Rosan Perkasa Roeslani, who stated that the restructuring decision has already been administratively decided and is awaiting official government announcement.
“It has been decided by the Coordinating Minister for Infrastructure,” said Rosan.
When asked if implementation would begin in May, Rosan replied, “Yes, it will start then.”