South Africa’s biggest domestic airline, FlySafair, could soon have a new owner.

A deal to buy the low-cost carrier is at an advanced stage, according to Harith General Partners chair Tshepo Mahloele. The private equity firm plans to acquire FlySafair through Harith Aviation, with the transaction expected to be concluded by the fourth quarter of 2026, subject to multiple regulatory approvals.

What Harith Says is on the Table

Mahloele said approvals are still needed from regulators, including the competition authorities and two licensing bodies. He did not share a purchase price.

He added the deal would make up about 15% of Harith’s overall portfolio and would be funded through a mix of equity and debt.

Harith manages about $3 billion in assets and invests in infrastructure across Africa. The firm also owns a stake in Lanseria International Airport, northwest of Johannesburg.

Why FlySafair’s Ownership Matters

FlySafair controls more than 60% of South Africa’s domestic seat capacity, which makes any ownership change a big deal for travellers and the industry.

The airline has faced regulatory pressure linked to local ownership rules. In 2024, the Domestic Air Services Council said FlySafair was in breach because trusts and companies, not individuals, held 75% of the airline’s voting rights. That ruling followed a complaint by rival Lift.

FlySafair had about a year to comply or risk losing its licence.

What Changes if the Deal Goes Through

Mahloele said the transaction would involve a reorganisation within ASL Aviation Group to simplify shareholding and align the ownership of its South African business. ASL Aviation Holdings, based in Dublin and owned by London-based private equity firm Star Capital Partners, partly controls FlySafair’s parent company, Safair Operations. Harith would then do a full takeover of Safair Operations.

FlySafair chief marketing officer Kirby Gordon said the deal could help with permit issues but added the airline still needs to follow due process. He also said Harith plans to keep FlySafair’s current management and strategy, including its regional growth plans.