Jambojet bets on new routes to net Sh10b in revenue

Jambo Jet Chief Executive Karanja Ndegwa. [Denis Kibuchi, Standard]

Low-cost carrier Jambo Jet is targeting to hit Sh10 billion in revenue this year, riding on tourism's post-pandemic recovery, an improving economy and the stabilisation of crude oil prices.

Jambo Jet Chief Executive Karanja Ndegwa noted that last year, the airline recorded Sh7.5 billion in revenue which represented 42 per cent gross profit. The carrier is also targeting to increase its local market share from the current 47 per cent to over 50 per cent in 2023.