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Jambojet enters aircraft lease agreement with Moscow-based firm

Travellers board Jambojet airline. FILE PHOTO | NMG
Travellers board Jambojet airline. FILE PHOTO | NMG 

Jambojet has entered into a leasing agreement with a Moscow-based company for two aircraft as the low-cost expands its fleet to pace with rising demand.

The budget carrier, a subsidiary of national carrier Kenya Airways #ticker:KQ , will lease a pair of Bombardier Q400s from Ilyushin Finance Co. (IFC), with the first plane scheduled for delivery in May and another by the end of the year.

Jambojet, which launched in 2014, has been in the market for new aircraft to serve the busy Coastal routes which were in December hit by massive flight delays and cancellations.

Delivery of the two new planes will see the budget carrier’s fleet grow to six – four Q400s and two Boeing 737s.

“The Q400 aircraft’s performance has exceeded our expectations on all fronts,” Jambojet chief executive, Willem Hondius, said in a statement announcing the lease deal.

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“With its low operating costs and best-in-class passenger experience, the Q400 has helped us optimize and expand our operations and is undeniably the backbone of Jambojet’s growth strategy.”

The low-cost in January leased a Q400 from Abu Dhabi Aviation to replace one of the older versions of the aircraft in its fleet and stabilise operations since one other plane was out on maintenance.

Jambojet flies to six routes in Kenya – from Nairobi to Mombasa, Eldoret, Kisumu, Lamu, Malindi and Ukunda.

It however plans to launch regional flights to Entebbe, Mogadishu, Juba and Dar es Salaam but it is yet to receive regulatory approval.

“This agreement for these next generation turboprops signifies a key development in IFC’s international leasing business,” Alexander Rubtsov, IFC’s director-general, said in a statement.

“The demand for high-performance turboprops, such as the Q400, continues to expand and we are pleased to enter into this new lease with Jambojet.”

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