South Africa’s FlySafair Declines Comment on Reported Harith B-BBEE Investment Talks
South African low-cost carrier FlySafair has declined to comment on reports that investment firm Harith General Partners is in talks to acquire a stake in the airline as part of a potential Broad-Based Black Economic Empowerment (B-BBEE) deal. The move could give the South African state indirect control of a major share of the domestic aviation market, according to The Citizen.
“FlySafair management are not shareholders. Any commentary on a topic like this would need to be obtained by right of reply to the entities involved. As always, FlySafair remains focused on its operations and its commitment to providing safe, reliable, and affordable air travel to the South African public,” said Kirby Gordon, the airline’s chief marketing officer.
ch-aviation has also reached out to FlySafair’s Irish-linked shareholder, ASL Aviation Holdings, and Harith General Partners for comment.
The Citizen report claims Harith is negotiating a deal to buy a stake in FlySafair, which is under pressure to resolve a foreign ownership compliance issue. Harith is partly owned by the Public Investment Corporation (PIC), South Africa’s largest asset manager and custodian of the Government Employees Pension Fund (GEPF).
If completed, the deal could give Harith indirect control of about 76% of South Africa’s domestic aviation market—combining FlySafair’s roughly 60% market share with the state’s ownership of South African Airways (SAA). Critics argue that such a move could increase government influence over the aviation sector and raise the risk of political interference.
FlySafair recently secured a court order suspending a February 2026 deadline to restructure its ownership after the Air Services Licensing Council (ASLC) ruled that its parent, Safair Holdings, breached local ownership laws requiring 75% South African control. The airline disputes claims that ASL Aviation Holdings indirectly controls 74.86% through a trust structure, with a judicial review expected after January 2026.
Harith previously held an 80% stake in the Takatso Aviation Consortium, whose failed bid to acquire 51% of SAA collapsed in March 2024. The firm also manages the Pan African Infrastructure Development Fund (PAIDF), which, along with the GEPF and PIC, holds a majority interest in Johannesburg’s Lanseria International Airport.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com