Harith Aviation wins approval for FlySafair acquisition in South Africa

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Harith Aviation FlySafair deal

Highlights

South Africa's Competition Tribunal approved Harith Aviation Consortium's 100% acquisition of FlySafair, targeting deal closure by year-end 2024.
FlySafair, the country's largest domestic airline, will continue to operate independently under existing management while maintaining its low-cost business model post-acquisition.
The acquisition follows sector disruptions from Covid-19 and signals renewed investor interest in aviation as a driver of regional connectivity and economic growth.

Tribunal clearance sets year-end timeline

According to Moneyweb, as stated in a Harith Aviation Consortium announcement on Thursday, the Competition Tribunal has granted final approval for the group’s 100% acquisition of FlySafair, allowing the transaction to proceed toward closing by the end of this year.

The Sandton-headquartered group said it welcomes the ruling. The approval removes the last major regulatory hurdle mentioned in the announcement and gives the buyer a clearer path to complete one of the more significant aviation deals in South Africa’s domestic market.

Harith said FlySafair will continue to operate independently under its existing management team. The airline is also set to retain its low-cost operating model and current customer offering after the ownership change.

Aviation investment keeps market continuity in focus

FlySafair is South Africa’s biggest domestic airline and also a significant regional carrier on the continent, making the transaction important for passenger connectivity and competitive dynamics in the local aviation sector.

The deal comes after years of strain in the airline industry following the economic fallout from the Covid-19 pandemic, which pushed several local and international airlines into business rescue or collapse. Harith had previously tried, without success, to acquire state airline SAA through the Takatso Consortium.

Makhubela said the investment reflects Harith Aviation Consortium’s view that aviation is a key driver of connectivity and economic activity. He said reliable and affordable air travel supports access to opportunity, tourism, trade and broader economic growth.

In our earlier coverage of Equites Property Fund’s interim results and UK exit strategy, we explained how the group lifted its interim distribution after accelerating its withdrawal from the UK and freeing up capital for South Africa. We also noted that proceeds from the Aviva portfolio sale helped reduce leverage and boost liquidity, supporting reinvestment into domestic logistics assets while management maintained its FY27 guidance.

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