Jambojet turns profitable

Jambojet, the low cost brand of Kenya Airways, Monday reported a net profit of Sh57 million for the first six months ending September, compared to a loss of Sh237 million during the same period last year.

Jambojet’s results show that for the period between April and September, the number of passengers carried increased by 14 per cent.

“We are very proud of these results. I’m delighted that after the start-up losses during our first six months in 2014, we have now achieved a healthy growth margin during the first six months of this year. Due to our low cost model, we are able to offer very affordable fares and show a positive result at the same time,” said Jambojet CEO William Hondius.

Add new roots

“Our introduction of the two Bombardier Q400 aircraft made it possible to add new routes resulting in an increase in customers. We now have more work and opportunity ahead to ensure more Kenyans can access affordable flights as we continue to execute our long-term plan,” Jambojet said in a statement.

The company said since introducing flights to Ukunda, passenger numbers have more than doubled with an all-time high in August this year of 10,800, putting the carrier on the right trajectory to stem the erosion in operating revenues by end of the financial year.

SOURCE: BUSINESS DAILY