Challenge Group will rethink India plan if B777 deal fails

Photo: Challenge Group

Challenge Group sounds increasingly frustrated with its attempts to buy 777s for conversion from India’s Jet Airways. Challenge subsidiary Ace Aviation has filed a complaint with a tribunal court in Mumbai, which hears the case today. Challenge Group CEO Eshel Heffetz told India’s Business Standard that the group had deposited $5.6m for five aircraft – three in Mumbai and two in Delhi – but claims there have been significant delays; nothing has happened for two years. In the meantime, it is uncertain what condition the aircraft are in. Challenge has said it would have to consider whether “India is the right market for us”, pointing to a lack of confidence in the system.