Harith General Partners in Advanced Talks to Acquire FlySafair, South Africa’s Largest Domestic Airline
Harith General Partners is in advanced negotiations to acquire budget airline FlySafair, as the $3 billion asset manager expands its transport and infrastructure portfolio across Africa.
Harith Chairman Tshepo Mahloele confirmed that discussions are at an advanced stage but remain subject to regulatory approvals, including clearance from competition authorities and two aviation licensing bodies.
The transaction will be executed through Harith Aviation and is expected to close by the fourth quarter, according to Bloomberg.
Addressing Ownership Compliance
The proposed acquisition could also help FlySafair resolve regulatory challenges linked to South Africa’s aviation ownership rules.
In 2024, the Domestic Air Services Council ruled that the airline was non-compliant with local legislation because 75% of its voting rights were held by trusts and corporate entities rather than individual South African citizens. The complaint was lodged by rival carrier Lift.
FlySafair was granted approximately one year to regularise its ownership structure or risk suspension of its operating licence.
A Harith-led acquisition could provide a pathway to compliance under South Africa’s regulatory framework.
Dublin-based ASL Aviation Holdings, owned by London private equity firm Star Capital Partners, currently holds a controlling interest in Safair Operations (Pty) Ltd., the parent company of FlySafair.
Mahloele said the deal would represent roughly 15% of Harith’s overall portfolio and would be financed through a combination of equity and debt.
Market Leader in Domestic Aviation
FlySafair commands more than 60% of South Africa’s domestic seat capacity, positioning it as the country’s largest airline by market share.
The carrier operates a fleet of 34 aircraft and transports approximately 30,000 passengers daily.
It is also recognised for operational reliability. FlySafair was the only African airline featured in Cirium’s latest Most On-Time Airlines rankings for the Middle East and Africa region, ranking first with an on-time performance rate of 93.82%, an on-time arrival rate of 97.14%, and a flight completion factor of 99.86%.
In 2025, the airline was named “Best Airline” by public vote at the South African Civil Aviation Authority Excellence Awards and received the “Best Low-Cost Airline in Africa” accolade from Skytrax.
If concluded, the acquisition would strengthen Harith’s presence in the transport sector while consolidating FlySafair’s position as South Africa’s dominant domestic carrier.
