CHALLENGE HOLDINGS

A global business leader, entrepreneur, investor, and aviation visionary who in the past 35 years has led and successfully reshaped  organizations across countries industries and cultures.

In 2010, he took over CAL Cargo Airlines and then co-founded the Challenge Group, a distinguished global air-cargo logistics conglomerate specializing in Door-to-Door transportation of complex air cargo. Additionally, he currently serves as Chairman of Challenge Airlines IL, formerly known as CAL-Cargo Airlines.

Before establishing the Challenge Group, Offer held various leadership positions in the global apparel industry, specializing in management buyout and organizational turnarounds. He is a staunch believer and supporter of the Israeli economy, actively advocating and promoting it globally while simultaneously fostering and investing in the local innovation ecosystem.

With a sharp strategic vision and unwavering commitment, Offer continues to drive excellence and innovation in the various businesses in which he is involved.

Offer holds an LL.B (Bachelor of Laws) from the Hebrew University of Jerusalem’s Faculty of Law and earned an M.B.A with Honors, majoring in Finance and Business Strategy, from the same university.

An accomplished executive with expertise in management, investments, innovation, and real estate. Over the last two decades, she has held leadership positions in both private and publicly traded companies.
Prior to joining Challenge Holdings, Liora has served as the CEO of Ilan Holdings, a private fund investing in early-stage Israeli companies. Liora’s career began as an economist at Mizrahi Bank; transitioned to an analyst at Giza Zinger Even and expanded into the real estate sectors through Redstone Holdings and Africa Israel Investments (TASE:AFIL).
She holds a BA in Economics and Business Administration (Suma Cum Laude) from Bar Ilan University and an MBA, Finance and Accounting Major, from Tel Aviv University.

An  expert of the Cargo Aircraft Industry  who co-founded  the Challenge Group together with Offer Gilboa and now serves as  the CEO of Challenge Airlines (BE) S.A. while also leads the fleet expansion of the group. With a career spanning nearly four decades, Eshel possesses comprehensive expertise in various responsibilities in aviation. Renowned for his exceptional management and negotiation capabilities, he brings a profound understanding of operational, safety, and compliance matters related to aviation.
Eshel’s leadership journey at Challenge Group began in 1999. He founded the aircraft lease business of the Challenge Group in 2016 and Challenge Airlines (BE) in 2017, where his strategic vision and industry acumen have been instrumental. Prior to this, he significantly contributed to the Challenge Group in roles such as Fleet Manager and Vice-President of Flight Operations.
Eshel’s aviation journey started as a pilot in the Israeli Air Force and as a Captain at Arkia Airlines.
He holds  a B.Sc. in Engineering and Management and an M.B.A. from Tel Aviv University.

A well seasoned director with vast experience in corporate finance, business development, banking, investments, and technology.

He is a cofounder and Chairman of the Investment Committee at Aluma – Infrastructure Investments. Throughout his career, of nearly 4 decades, Muli has held esteemed positions including CEO at CREDIT-SUISSE-Israel, CEO at IPC Oil & Gas, President & COO at Ericom Software, and Head of Private Equity at Singer Barnea Investment House. Additionally, he has contributed significantly as Assistant to the Director General at the Ministry of Finance.

Muli served as an active board member and Vice-Chairman at Challenge Airlines IL and as Chairman at the Belgian Challenge Handling (previously LACHS). Since 2010, he has been instrumental in shaping corporate strategy and fostering the exponential growth of the Challenge Airlines (IL).

He holds a BA (Economics) and an MBA from Tel Aviv University.