“This keeps ownership in SA,” : FlySafair acquisition receives final competition approval

Harith Aviation Consortium has secured approval from the Competition Tribunal to proceed with its planned 100% acquisition of FlySafair, moving the deal closer to completion before the end of 2026.

The approval is a significant step for the transaction because it allows the parties to proceed with the remaining regulatory requirements and contractual conditions. Harith said it expects the acquisition to close late this year, provided all outstanding requirements are met.

FlySafair is South Africa’s largest domestic airline and a major regional operator on the African continent. The airline has built its position around a low-cost operating model, which has helped it attract customers looking for affordable domestic and regional travel.

Harith described the acquisition as an investment in a successful South African business. The consortium said the transaction would bring long-term local investment into the airline while keeping ownership in South Africa.

Harith General Partners chief executive Sipho Makhubela said the deal represented more than simply buying an airline. He described it as an opportunity for South African capital to support a local business with an established brand and strong management team.

FlySafair chief executive Elmar Conradie welcomed the tribunal’s decision and said the airline would continue operating independently under its existing management team. The company also said it intended to retain its low-cost model and current customer offering.

The transaction follows Harith’s earlier unsuccessful attempt to acquire South African Airways through the Takatso Consortium. That proposed deal did not proceed, but the FlySafair acquisition would give the investment group a major position in the country’s aviation industry.

The deal still needs to satisfy the remaining regulatory approvals and conditions before it can be implemented. If completed, it will change the ownership structure of one of South Africa’s most prominent airlines. Do you think keeping FlySafair under South African ownership is important for the country’s aviation industry?

Source: https://www.moneyweb.co.za/news/companies-and-deals/harith-gets-competition-tribunal-green-light-on-flysafair-deal/

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