Pan-African infrastructure investor Harith has signed a Sale and Purchase Agreement to acquire FlySafair, in a transaction that could see South Africa’s largest domestic airline move into entirely local ownership, subject to regulatory approvals.
The deal remains subject to approvals from the Competition Commission and aviation regulators, including the Air Services Licensing Council (ASLC).
While financial terms have not been disclosed, representatives confirmed that Harith and its affiliates would acquire the airline as a going concern through a dedicated investment vehicle. Existing shareholders are expected to exit entirely if the transaction is approved. The Public Investment Corporate (PIC), South Africa’s state-owned asset manager that invests pension funds and institutional assets and which owns a stake in Harith Partners, is not involved in funding or investing in the transaction.
