Jambojet Records Over Ksh 1 Billion Losses in 3 Months

Kevin Namunwa | Sep 16, 2020

Jambojet has been hit greatly by the coronavirus pandemic as the airline’s losses are nearing Ksh 1.2 billion in the three and a half months it has not been operational.

According to Jambojet’s acting director, Karanja Ndegwa, the carrier has witnessed reduced earnings during the suspension of passenger flights between March and mid-July.

“Our monthly revenues are about Sh300 million so when we were grounded for the three and a half months, we lost about Sh1.1-1.2 billion shillings because we were at zero revenue,” said Ndegwa.

The carrier’s acting director further said that Jambojet is banking on the newly launched charter operations to help it bounce back to profitability.

The airline is targeting to generate over Ksh 400 million.

He added charter flights will address customer demands such as co-operate companies and families who want privacy while moving around their various destinations.

Since the resumption of local flights, the airline said Mombasa continues to be its most profitable route before and after Kenya opened its skies to domestic and international flights in July and August.

“Mombasa has been the most profitable route since that is where we fly most of the time before COVID-19 and even after,” said Jambojet Head Of Sales and Marketing.

Before the pandemic hit, the national carrier was strategizing on its expansion plans. It had launched flight routes to new destinations and was eyeing other destinations as well but the coronavirus pandemic halted Jambojet’s plans.

The carrier was targeting February 2020 to launch flights to Somalia, where it reveals that plans to fly there are currently on hold.

Jambojet is however optimistic of a near term rebound including the return of its flights to Entebbe and Kigali.

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