Harith General Partners has agreed to acquire full ownership of FlySafair, South Africa’s largest domestic airline, marking a significant expansion of its transport and infrastructure portfolio. The private equity investor will complete the purchase through a special purpose vehicle, Harith Aviation, although financial details were not disclosed. The transaction follows a prolonged shareholder exit process and positions Harith to integrate aviation into a portfolio that already includes assets such as Lanseria Airport and rail operator Traxtion.
FlySafair currently accounts for about 67% of available seat capacity in South Africa’s domestic market, reflecting its rapid growth since launching operations in 2014 with two aircraft. As reported by Reuters, South Africa’s aviation sector has undergone consolidation in recent years, with low-cost carriers gaining market share as travellers prioritise price and reliability. FlySafair has expanded its fleet to more than 30 aircraft and established itself as a dominant player in a market still recovering from pandemic-era disruptions.
The acquisition revives Harith’s ambition to own an airline after it withdrew from a proposed majority stake purchase in South African Airways in 2024 amid political and regulatory uncertainty. The FlySafair deal enables Harith to pursue a similar strategic objective through a privately owned carrier with an established operating model and management team. Existing shareholders, including Ireland-based ASL Aviation Holdings, are expected to exit, while FlySafair’s management will remain in place to ensure operational continuity.
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FlySafair’s ownership structure previously attracted regulatory scrutiny after competitors questioned compliance with South Africa’s foreign ownership limits. National rules require at least 75% local ownership of resident airlines. According to Bloomberg, regulators have increased oversight of airline ownership and competition as the sector stabilises and passenger volumes recover. Harith’s acquisition is expected to simplify FlySafair’s ownership profile while aligning it more closely with domestic regulatory requirements.
Harith said the investment supports its long-term strategy of building an integrated transport network across Africa. By adding an airline to its infrastructure holdings, the firm aims to strengthen connectivity within its broader logistics ecosystem. The transaction is intended to back FlySafair’s existing growth trajectory, focusing on operational stability and expansion in a competitive domestic aviation market.