Harith Targets FlySafair in Strategic Airline Buyout
•February 10, 2026
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Why It Matters
The acquisition gives Harith a foothold in African aviation, potentially reshaping low‑cost travel dynamics and strengthening its transportation infrastructure portfolio.
Key Takeaways
- •Harith to acquire FlySafair’s full ownership
- •Deal pending Competition Commission approval
- •FlySafair meets 75% local control requirement
- •Harith adds airline to infrastructure portfolio
- •Lanseria Airport stake aligns with FlySafair hub
Pulse Analysis
FlySafair has emerged as Africa’s most awarded low‑cost carrier, boasting Skytrax titles for 2021‑2023 and 2025. Its rapid growth, efficient cost structure, and focus on secondary airports have made it a valuable asset for investors. Harith’s move to purchase the airline reflects a broader trend of infrastructure‑focused funds seeking stable, cash‑generating assets in the continent’s transport sector, where passenger demand is projected to rise alongside rising middle‑class incomes.
Regulatory approval remains the critical hurdle. South Africa’s Competition Commission previously blocked a FlySafair‑Airlink merger and rejected a Harith‑led consortium’s bid for a 51% stake in state‑owned South African Airways due to conflict‑of‑interest concerns. The current transaction must also satisfy the 75% local ownership rule, a point contested by rivals Airlink and LIFT. Successful clearance would signal a more flexible regulatory stance, encouraging further private investment in the nation’s aviation market.
Strategically, the acquisition positions Harith to leverage synergies between FlySafair’s route network and its existing stake in Lanseria International Airport, the airline’s primary hub. Integrated operations could lower costs, expand capacity, and enable new domestic and regional routes, strengthening South Africa’s connectivity. For the broader African aviation landscape, Harith’s entry may intensify competition, drive service improvements, and attract additional capital to an industry historically dominated by state‑run carriers.
Harith Targets FlySafair in Strategic Airline Buyout
Low-cost South African airline FlySafair , in which Ireland-based ASL Aviation has a total beneficial ownership of 74.86%, has entered into a sale and purchase agreement under which South Africa-based investment holding company Harith and its affiliates will acquire a 100% stake. This idea has been floated before.
According to FlySafair spokesperson Kirby Gordon, FlySafair’s shareholders have been interested in exiting the airline since 2019. At the time, South Africa’s Competition Commission refused to approve a proposed merger between FlySafair and Airlink, another privately owned South African airline. The value of the Harith transaction, which is still subject to aviation regulatory and South African Competition Commission approval, was not disclosed, but Harith has indicated that South Africa’s Public Investment Corporation (PIC) has no involvement in the deal.
Over the past 20 years, Harith has focused on impactful long-term infrastructure investments across Africa. It has over US$3 billion in assets under management and a focus on energy, connectivity, transportation, and logistics. A deal under which a consortium of which Harith was the majority stakeholder would have obtained a 51% stake in state-owned South African Airways (SAA) fell through in 2024 when a condition set by the South African Competition Commission could not be met. The condition requires the minority shareholders in the consortium to sell their shares to avoid a conflict of interest. This could not be achieved.
The FlySafair deal would, therefore, fulfil Harith’s ambition to include an airline in its transportation infrastructure portfolio. For Harith, FlySafair has a proven operating model, strong management team, and long-term growth prospects. A Harith-led consortium also has a stake in the privately-owned Lanseria International Airport (LIA), in Johannesburg, South Africa, which is also FlySafair’s hub.
FlySafair’s ownership structure was challenged by local competitors Airlink and LIFT as being in violation of South African aviation law, which requires 75% local control and voting rights. The aviation authorities have given FlySafair time to address the issue.
According to Gordon, Harith will buy FlySafair as a going concern and retain the current management team, keeping the brand, strategy, and routes. FlySafair was awarded the Skytrax Best Low-Cost Airline in Africa award in 2021, 2022, 2023, and 2025. Details regarding the transaction value were not disclosed and are expected to be revealed in the Competition Commission application in due course. According to Gordon, if all goes according to plan, the deal could still be finalised before the end of 2026.
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