Jambojet, a low-cost subsidiary of Kenya Airways (KQ), reported a Ksh.873 million loss in 2024, worsening from a Ksh.335 million loss in 2023.
This, according to a report by Business Daily, was due to high fuel costs, a weak Kenyan shilling, and increased operational expenses from leasing two aircraft.
Profitability was strained despite a 25% revenue increase to Ksh.11.2 billion, driven by higher passenger numbers (800,000 from 700,000) and new routes like Zanzibar.
On the other hand, KQ rebounded to a Ksh.513 million profit in 2024, its first since 2012, fueled by a 15% passenger growth to 4.8 million and operational efficiencies.
This even as the national carrier faced challenges from currency depreciation and leasing costs.
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