Harith Global Partners acquires low-cost carrier FlySafair

Harith Global Partners has announced a complete buyout of low-cost carrier FlySafair in a deal that is awaiting approval from competition and aviation authorities and is expected to be completed by the end of the current year.

The transaction also puts to rest the legal challenge by Airlink and Global Aviation over FlySafair’s foreign ownership structure.

The deal, announced on Tuesday, is for an undisclosed amount, with details on whether it is a cash or share transaction being withheld pending the necessary approvals, both parties said.

“The Competition Commission needs to look at it because of the size and nature of the deal. And then, of course, on the aviation side, there’s also a requirement from the two licensing councils. So we’ve got two councils that we speak to, international and domestic. And then, of course, required notices and processes with the likes of the Civil Aviation Authority,” FlySafair Communications and Marketing Manager Kirby Gordon said.

Harith, which began talks for the acquisition in 2019 when there were discussions involving FlySafair and Airlink around a proposed merger or transaction that was taken to the Competition Commission but did not progress further at the time, said it was buying the airline as a going concern. The firm added that there would be no changes to the management structure or day-to-day operations.

Chebet Chikumbu, Harith managing director for Growth and Strategy, said, “The vision, again, is as a value investor looking at an investment in the airline over a long period of time. There’s no sort of revolution anticipated. So there’s capital available to do what needs to be done to run the airline and to take advantage of opportunities as and where they exist within the limits of the model. But there are certainly no promises or ambitions of crazy big ventures into wide-body, long-haul flying or anything of that nature."

Headquartered in Johannesburg, Harith manages significant portfolios across key sectors including energy, transport, and telecommunications.

According to its brief, Harith is dedicated to identifying and scaling high-performing assets that drive economic growth and regional connectivity. With a deep commitment to sustainable development and institutional integrity, Harith serves as a bridge between long-term capital and Africa’s most critical infrastructure needs.

“We don’t do it alone. We do it alongside partners and institutional investors. And obviously, all of that is governed by risk controls and independent committees that ensure fiduciary standards and controls are adhered to. In this instance, the Competition Commission and regulatory approvals are a really important line of oversight for us. So while we are celebrating this milestone, which is very important for us to mark, it is going to take a stepwise approach to ensure that we secure the necessary approvals from the Competition Commission and aviation authorities,” Chikumbu said.

Gordon said the proposed investment is aligned with FlySafair’s existing trajectory and supports the airline’s continued focus on operational excellence and sustainable growth.

The transaction follows a long-standing shareholder exit process at FlySafair that has been under consideration for several years.

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