Challenge Group to add B767, B777 freighters

Challenge Group secures $64.3mn to fund B767 P2F conversions

Investec Aviation Finance has agreed to provide EUR60 million euro (USD64.3 million) in financing to Challenge Group for the acquisition and conversion of four B767-300ERs.

"This conversion programme is the keystone in Challenge Group's expansion strategy as it allows it to increase its current fleet of eight widebody freighters. This was no straightforward financing deal. But thanks to strong cooperation and out-of-the-box thinking, we were able to solve some of the complicated issues that popped up along the way," Chief Investment Officer Michael Koish said.

The capital will be jointly underwritten by Investec's British and South African funds. Without disclosing the terms, Investec Aviation Finance said it would come as an "innovative financing package".

Challenge Group operates three airlines (Challenge Airlines BE, Challenge Airlines IL, and Challenge Airlines MT), as well as a cargo terminal at Liège. The group's fleet comprises one B747-400(BCF), two B747-400ERFs, and one B747-400FSCD. The group signed an MoU with Israel Aerospace Industries for four B767-300(ERBDSF)s in late 2021. It...

Challenge Group to place two B767 freighters in Belgium

Malta's Challenge Airlines MT secures its AOC

Challenge Airlines MT (X6, Malta International) has obtained its Maltese Air Operator's Certificate - #MT-72 - as it prepares to launch cargo operations with two B767-300(ERBDSF)s.

The airline expects to operate cargo-only flights out of its base at Liège to Sharjah, New York JFK, Tel Aviv Ben Gurion, and Mumbai International in cooperation with sister carriers Challenge Airlines BE (X7, Liège) and Challenge Airlines IL (5C, Tel Aviv Ben Gurion).

Challenge Airlines MT took its first unconverted B767-300ER, 9H-CAD (msn 30301), in mid-September 2022. The aircraft was used for the certification process and subsequently ferried to Leipzig/Halle on October 6, 2022, Flightradar24 ADS-B data shows. It remains under maintenance at the German hub for the time being. A second unit of the type, N899MF (msn 25588), is currently under conversion at Belgrade.

Challenge Group has four B767-300(ERBDSF)s due from Israel Aerospace Industries. The other two units will be deployed under the group's Israeli AOC, replacing the two B747...

Malta's Challenge Airlines MT adds first aircraft, a B767