Budget airline FlySafair could soon have a new majority shareholder, with Pan-African investment firm Harith edging closer to finalising a deal that may reshape South Africa’s domestic aviation landscape.

The Witness reports that despite the airline’s insistence that the transaction is unrelated to regulatory pressure, the deal would resolve foreign ownership and voting concerns that have followed the carrier since 2024.

The Citizen first reported on the proposed deal in November last year.

Harith’s aviation ambitions

Founded in 2006, Harith General Partners is a Pan-African investor and infrastructure developer managing more than $1.2 billion in assets across sectors, including transport, energy, digital infrastructure, public health, and water and sanitation.

As fund manager for the Pan-African Infrastructure Development Fund (PAIDF), Harith manages investments across Botswana, Ghana, Kenya, Malawi, Nigeria, South Africa, Zimbabwe and Côte d’Ivoire.

While primarily focused on infrastructure, the FlySafair deal would mark Harith’s most significant aviation investment.

The firm previously pursued stakes in the failed Takatso Consortium bid for South African Airways (SAA), while Mango and Comair were also linked to its acquisition ambitions.

FlySafair now appears to be the first deal likely to reach completion.

Licensing and ownership questions

FlySafair marketing manager Kirby Gordon said the transaction was not prompted by licensing council demands for clarity on local ownership.

However, the deal would secure the airline’s standing with both domestic and international licensing authorities.

The airline has defended its ownership structure since 2024. The proposed transaction could see FlySafair become indirectly government-owned through Harith, a development that has sparked debate within the aviation sector.

Concerns over state influence

Aviation analyst Guy Leitch said the move raises concerns.

“We remain concerned that this shows a reversion back to an uneven playing field, where there were two government-owned airlines,” he said.

Leitch added he hoped there would be no operational interference, particularly regarding route networks or national development mandates.

Some industry sources suggested the deal could mirror the path of SAA’s former low-cost carrier, Mango.

“It could place significant parts of the domestic market back under indirect government influence,” said a source.

FlySafair claims more than 60% of the domestic market, while SAA recently said its share stands at 24%.

Reassurances from the airline

Gordon sought to reassure customers.

“The airline will continue to operate under its existing brand, leadership and strategy, delivering the same affordable fares, reliable operations and strong on-time performance that customers have come to expect.”

The transaction remains subject to approval by the Competition Commission, although industry commentators believe that major regulatory obstacles are unlikely.

When The Citizen reported on the potential deal last year, Department of Transport spokesperson Collen Msibi reassured the public that it would not result in another government carrier.

Economist Dawie Roodt previously warned political interference would be inevitable in such a transaction, a view echoed by United Democratic Movement leader Bantu Holomisa.

If concluded, the deal would mark Harith’s first successful aviation acquisition and could reshape South Africa’s domestic airline market.

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