European air cargo operator Challenge Group is expanding its long‑haul freighter fleet after completing the purchase of three Boeing 777 aircraft formerly owned by India’s now‑defunct Jet Airways, in a deal valued at $46 million (approximately ₹417 crore).
The wide‑body aircraft — which had been grounded in Mumbai since Jet Airways suspended operations in April 2019 — are set to be integrated into Challenge Group’s cargo network following prolonged legal and insolvency proceedings in India. The sale, executed as part of Jet Airways’ ongoing liquidation process, includes three aircraft frames and six engines and marks a key milestone in the airline’s asset recovery efforts.
The acquisition will help bolster Challenge Group’s capacity as demand for global air freight continues to grow, especially on intercontinental routes where Boeing 777 freighters are prized for their range and payload capabilities. The three Boeing 777 wide‑body jets are expected to be refurbished and deployed across the group’s expanding cargo services.
Jet Airways, once one of India’s largest carriers with over 120 aircraft at its peak, has been undergoing a drawn‑out liquidation process after attempts to revive the airline stalled. The Supreme Court of India ordered the liquidation in late 2024, paving the way for the aircraft sale earlier this year.
For Challenge Group — which already operates a mixed fleet of Boeing 747 and 767 freighters and is known for strategic fleet growth in Europe and beyond — this purchase strengthens its position in the competitive cargo market and underscores growing activity in the secondary aircraft market.
