Private equity firm Harith General Partners has received antitrust approval for its proposed acquisition of South African low-cost airline FlySafair, marking a key step towards completing the transaction, according to a report by Bloomberg.
South Africa’s Competition Commission has recommended that the Competition Tribunal approve the deal, subject to a number of conditions.
The acquisition is expected to help FlySafair resolve regulatory concerns over its ownership structure. The airline, which accounts for more than 60% of South Africa’s domestic seat capacity, has been under pressure to comply with local ownership requirements after the Domestic Air Services Council ruled in 2024 that it was in breach of regulations governing South African control of airlines.
The ruling followed a complaint from rival carrier Lift, which argued that the airline’s ownership structure did not satisfy domestic aviation rules because 75% of its voting rights were held by trusts and corporate entities rather than individuals.
Harith, an infrastructure-focused private equity investor with investments across Africa, already owns a stake in Lanseria International Airport, located northwest of Johannesburg. To address potential competition concerns arising from the transaction, the Competition Commission said Harith must not discriminate against competing airlines operating from the airport.
The regulator concluded that the proposed acquisition could proceed provided the agreed conditions are met, with final approval now resting with the Competition Tribunal.
