Harith to acquire FlySafair as airline maintains operations

Source: Bob Adams via Wikimedia Commons

The deal is part of Harith’s ongoing expansion into the transport sector, with more than $bn in assets under management. Harith has a history of investing in infrastructure across Africa, including a stake in Lanseria International Airport, according to reports from BusinessTech.

FlySafair controls over 60% of domestic seat capacity and operates ten domestic and five regional routes. The airline has grown to be a market-leading low-cost carrier since its establishment in 2014, carrying more than 54 million passengers on its fleet of 39 B737 aircraft, as reported by IOL.

Regulatory compliance and strategic positioning

The acquisition will assist FlySafair in addressing regulatory requirements regarding South African ownership rules. In 2024, the Domestic Air Services Council found the airline in breach of rules as trusts and companies controlled 75% of its voting rights. FlySafair was given approximately a year to comply or risk having its licence revoked, according to reports from BusinessTech.

Chief marketing officer Kirby Gordon said: "While the deal may help with ownership compliance, the airline will continue to follow the necessary regulatory processes. Operations will continue under the existing leadership and strategy."

Harith co-founder and chairperson Tshepo Mahloele said the company intends to maintain FlySafair’s management and strategy. The acquisition is being undertaken through a sale and purchase agreement, with completion timelines dependent on regulatory approvals.

Harith previously considered investments in South African Airways and Comair, but those opportunities did not proceed. Analysts say the transaction positions FlySafair to expand commercially, particularly through regional routes and the African Continental Free Trade Area, while continuing to comply with licensing requirements, according to IOL.