The South African Competition Commission recommended that the Competition Tribunal approve the transaction involving the transfer of FlySafair to one of Africa's largest investment companies.
The transaction has been structured through Harith Aviation, an investment vehicle managed by Harith General Partners, which oversees an infrastructure portfolio of more than $3 billion across eight African countries.
The sale and purchase agreement (SPA) between Saffire Holdings and Harith Aviation was first announced on 10 February 2026. Once recommended for approval, the transaction remains subject to certain regulatory conditions.
FlySafair ownership problems
Problems with FlySafair's ownership structure date back years. In 2024, the International Air Services Council (IASC) found that flysafairThe shareholding structure of the company violates South African law.
Then, ASL Aviation Group, an Irish holding company, owned 74.86% of FlySafair, making it the airline's majority shareholder, and thus exceeding foreign ownership limits.
FlySafair's new owner, Harith Aviation, is backed by Harith General Partners, which is itself owned by Harith Holdings (Pty) Ltd.
The Public Investment Corporation (PIC), a giant asset management firm owned by the South African government, owns a 30% stake in Harith General Partners.
Harith invests in energy, transportation, digital infrastructure, health and water infrastructure. It invests in countries such as South Africa, Nigeria, Zimbabwe, Malawi, Ghana, Kenya, Botswana and Côte d'Ivoire.
conditions imposed on merger
In its statement Upon the merger, the Competition Commission divested Harith's pre-existing ownership stake in Lanseria International Airport.
They noted that it should “ensure that airline-related or airport-related goods or services provided to other airlines at Lanseria Airport are not provided on the basis of unfair, unreasonable or discriminatory terms.”
Changes in FlySafair
Harith has committed to FlySafair's existing low-cost model.
In a statement issued upon the sale and purchase agreement, Harith “His intention is to support Flysafair as a disciplined and successful business, maintaining continuity under its existing leadership and further strengthening Harith's strategy to secure an integrated transport network,” he said.
Harith further said that it “supports FlySafair's ongoing strategy to enhance affordability, reliability and connectivity.”
The FlySafair team is equally confident that there will be no changes. In a press statement shared with south africanFlySafair says there will be “no changes to FlySafair's daily operations as the regulatory process continues.”
He also noted that the airline “will remain completely focused on safe, reliable and affordable operations for its customers.”
Currently, FlySafair has more than 60% share of the South African domestic air market.