{"id":86242,"date":"2026-02-12T11:42:14","date_gmt":"2026-02-12T14:42:14","guid":{"rendered":"https:\/\/shipping.einnews.com\/article\/891767887"},"modified":"2026-02-12T11:42:14","modified_gmt":"2026-02-12T14:42:14","slug":"challenge-finally-gets-jet-777s-to-bolster-indian-air-cargo-network","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/12\/challenge-finally-gets-jet-777s-to-bolster-indian-air-cargo-network\/","title":{"rendered":"Challenge finally gets Jet 777s to bolster Indian air cargo network"},"content":{"rendered":"
\"dreamstime_s_137440750\" <\/p>\n

\u00a9 Richair |<\/p>\n<\/p><\/div>\n

\n
By Angelo Mathais India correspondent<\/a><\/address>\n

Malta-based air cargo carrier Challenge Group is poised to scale up its freighter fleet to tap into growing trade demand, especially out of India.<\/p>\n

The group has finally closed a long-running $46m deal to acquire three 777 passenger aircraft from now-defunct Indian private airline Jet Airways, out of around 120 planes it had in its heyday, and part of Jet\u2019s ongoing liquidation process.<\/p>\n

The Naresh Goyal-led Indian carrier shuttered operations in 2019 following a severe debt crisis, and efforts to revive operations didn\u2019t succeed.<\/p>\n

Access to the aircraft has been a long journey for Challenge after it reached agreement with Jet in 2022 to buy the three 777s \u2013 but the aircraft failed to be delivered. In 2024, Challenge\u2019s chief investment officer, Michael Koish, said \u201cenough is enough\u201d, and that any further efforts to block the sale would result in Challenge walking away and taking \u201cits $5.6m back with full interest\u201d.<\/p>\n

He said at the time: \u201cWe don\u2019t understand what\u2019s going on here. On the one hand, we have the Supreme Court [making] a very clear decision to continue with the deal. On the other, nobody wants to actually do anything productive.<\/p>\n

\u201cWe\u2019ve already travelled to India three times since last year, including last week, to complete this deal. However, the monitoring committee did not speak to or meet us.\u201d<\/p>\n

With conversion slots already booked for 2025, Challenge had to find<\/a> another aircraft instead.<\/p>\n

However, Jet Airways, in a regulatory filing, has now confirmed the deal with Ace Aviation, a Challenge Group subsidiary, which \u201cplans to convert them into freighters\u201d, one airline industry source told The Loadstar<\/em>.<\/p>\n

Challenge Group currently offers five weekly freighter services out of India: three into Mumbai and two into Delhi, according to available data.  And the cargo airline is looking to expand its Indian network amid the rapid growth of ecommerce and cold chain goods.<\/p>\n

The European operator has a dozen freighters in its fleet at present, comprising both 747s and 767s.<\/p>\n

Indian air cargo volumes grew 6% year on year, from April through December, the first three quarters of fiscal year 2025-26, data shows.  That expansion came despite trade growth challenges linked to US tariff issues.<\/p>\n

India\u2019s aviation infrastructure is on the cusp of large-scale development, opening new airports in tier 2 and tier 3 cities, as well as modernising terminals in metro locations through private participation. And New Delhi plans to privatise more government-run airports, reportedly 11 in minor cities, in an asset monetisation strategy.<\/p>\n

Adani Airports Holdings already operates eight airports in India, including the recently commissioned Navi Mumbai International (NMIA), on the outskirts of Mumbai City.<\/p>\n

Cargo activity at the old Mumbai airport (MIAL) is heading for disruption, as operator Adani recently announced a 10-month suspension of freighter slots, through to May 2027, to facilitate major infrastructure works at the congested terminal.<\/p>\n

To mitigate supply chain risks, Adani is said to be pushing freighter operators to shift operations to NMIA, but industry concerns regarding the readiness of its cargo-handling infrastructure persist.<\/p>\n

But industry sources remain upbeat about the outlook for the air cargo sector as more dedicated freighters join global operations \u2013 the Airbus Global Market Forecast 2025-2044 predicted fleets would grow 45%, to some 3,420 aircraft, by 2044.<\/p>\n

\u201cIndia is already witnessing strong momentum, with air cargo growing 4.8% last year and tier 1 airports recording double-digit gains,\u201d Amar More, CEO of Mumbai-based Kale Logistics Solutions, told The Loadstar<\/em>.<\/p>\n

\u201cThe real opportunity lies not just in adding aircraft, but in building digitally connected cargo networks that maximise capacity and efficiency,\u201d he added.<\/p>\n

Additionally, as tariff concerns ease for Indian exporters, following recent bilateral trade negotiations and agreements, a rebound in trade, especially in labour-intensive sectors, will accelerate the pace of air freight growth, sources believe.<\/p>\n

<\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

… regarding the readiness of its cargo<\/span>-handling infrastructure persist. But … the outlook for the air cargo<\/span> sector as more dedicated … but in building digitally connected cargo<\/span> networks that maximise capacity and … the pace of air freight<\/span> growth, sources believe.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-86242","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/86242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=86242"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/86242\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=86242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=86242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=86242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}