101 MILLION KENYA SHILLINGS LOSS AS JAMBOJET FALLS IN LINE WITH KENYA AIRWAYS’ NEW FINANCIAL YEAR
(Posted 02nd July 2018)
After also changing the financial year to fall in line with parent corporation Kenya Airways did Jambojet, effective 31st of December 2017, report a loss of 101 million Kenya Shillings. This compares to just 25 million Kenya Shillings loss for the entire 12 months of the previous FY – the new accounting period only lasting from 01st of April 2017 to 31st of December 2017.In the 2016 financial year did the airline, unlike the parent company, in fact make a profit of about 126 million Kenya Shillings.
While the airline did not give reasons for the continued loss are aviation pundits and observers in agreement that a series of operational mishaps and challenges last year and a major fleet overhaul caused extra expenditure, for the latter thought to be a one off.
The airline, earlier this year, expanded beyond Kenya’s borders for the first time with flights to Entebbe, though the code shared operation with parent Kenya Airways on this route is clearly flawed, as a recent experience amply demonstrated.
It is understood, that once additional aircraft of the Bombardier Q400 type are delivered, that Jambojet plans to add further regional routes, subject to regulatory approvals and landing rights in the new destinations.