South African private equity firm Harith General Partners plans to acquire budget carrier FlySafair, as the $3 billion asset manager expands its transport portfolio across the continent.
Talks with the country’s largest airline are at an advanced stage and remain subject to regulatory approvals, including from antitrust authorities and two aviation licensing bodies, Harith Chairman Tshepo Mahloele said.
The acquisition will be executed through Harith Aviation and is expected to close by the fourth quarter, according to Bloomberg.
The transaction could also help FlySafair resolve mounting regulatory pressure over South Africa’s ownership requirements. In 2024, the Domestic Air Services Council ruled that the airline was in breach of local laws because trusts and corporate entities, rather than individuals, hold 75% of its voting rights. The decision followed a complaint by rival carrier Lift.
“The deal will account for roughly 15% of our overall portfolio and will be financed through a combination of equity and debt,” Mahloele said in an interview.
FlySafair, which controls more than 60% of South Africa’s domestic seat capacity, was given about a year to comply with ownership rules or risk having its operating license revoked.
Dublin-based ASL Aviation Holdings, owned by London private equity firm Star Capital Partners, partly controls Safair Operations (Pty) Ltd., the parent company of FlySafair.
Market leader at home
FlySafair has built a strong reputation for operational performance, carrying around 30,000 passengers daily with a fleet of 34 aircraft. It stands out as the only African airline featured in Cirium’s latest Most On-Time Airlines rankings for the Middle East and Africa region.
The carrier ranked first in the regional category, achieving an on-time performance rate of 93.82%. It also recorded a 97.14% on-time arrival rate and a flight completion factor of 99.86%, underscoring its operational reliability.
In 2025, FlySafair was named “Best Airline” by public vote at the South African Civil Aviation Authority Excellence Awards. The airline also received the Skytrax Award for “Best Low-Cost Airline in Africa.”
