The FlySafair acquisition by private equity firm Harith General Partners follows months of regulatory scrutiny over the airline’s ownership structure and could reshape South Africa’s domestic aviation sector.
South Africa operates Africa’s largest internal aviation market, handling around 1.8 million scheduled seats during peak seasons. FlySafair accounts for roughly two-thirds of domestic seat capacity. Founded in 2013, the airline has grown steadily over the past decade. It operates more than 1,250 weekly flights and a fleet of 37 Boeing 737 aircraft. In 2025 alone, it carried out more than 62,000 flights, maintaining a strong presence on the Johannesburg–Cape Town–Durban corridor.
FlySafair’s expansion has not been without controversy. In 2022, competitors Airlink and Global Aviation, which operates LIFT, raised concerns about the airline’s ownership structure. Under South African law, domestic airlines must maintain at least 75% local voting rights.
Regulators, the International Air Services Council (IASC) and the Air Services Licensing Council (ASLC), later concluded that Irish-based ASL Aviation Holdings effectively controlled about 74.86% of the airline. In late 2024, the ASLC ruled that FlySafair did not meet local ownership requirements.
DON’T MISS THIS: Harith FlySafair Acquisition Talks Advance in South Africa
The regulator initially gave the airline until January 2026 to resolve the matter. However, in October 2025, the Gauteng High Court granted FlySafair an urgent interdict. This allowed it to continue operating while challenging the legal interpretation of “local ownership”.
Instead of pursuing a prolonged legal challenge, FlySafair confirmed on 10 February 2026 that Harith General Partners had entered into a Sale and Purchase Agreement to acquire the airline in full.
Harith structured the deal through a special purpose vehicle, Harith Aviation Proprietary Limited. Zungu Investments will participate as a co-investor.
The Public Investment Corporation (PIC), which manages pension funds for South African government employees, owns a 30% stake in Harith. The firm has stated that the PIC is not providing separate funding specifically for the FlySafair acquisition.
Harith manages around $3 billion in assets across transport, energy and telecommunications. It already holds an interest in Lanseria International Airport. The FlySafair purchase would represent its first direct investment in an airline.
The firm has attempted to enter the aviation sector before. It was the majority shareholder in the Takatso Aviation Consortium, which sought to acquire a controlling stake in South African Airways. That deal collapsed in 2024. Harith also previously explored investments in South African Express and Comair.
The transaction remains subject to approval from the Competition Commission and the relevant licensing authorities. Harith chairman Tshepo Mahloele has indicated that, if approved, the deal could close in the fourth quarter of 2026.
For passengers, there are no immediate changes. FlySafair says its operations, branding and leadership remain unchanged.
The FlySafair acquisition may resolve the regulatory dispute and place the airline firmly under majority South African ownership. Its long-term impact on competition in the domestic market will become clearer once final approvals are granted.
