Buying FlySafair to Forge a Southern African Transport Empire

In a move that could reshape regional travel and trade, infrastructure investment giant Harith General Partners is finalising a deal to acquire South Africa’s dominant domestic airline, FlySafair. The acquisition is the centrepiece of Harith’s bold strategy to evolve from a passive asset holder into the master architect of a seamlessly connected Southern African transport network.

The proposed deal, funded by equity and debt from Harith’s $3 billion-plus war chest, would see FlySafair join a portfolio that already includes Lanseria International Airport, Traxtion (Africa’s largest private rail operator), and a major stake in the modernised Beitbridge Border Post. This isn’t just about adding an airline; it’s about “owning the connectivity” between assets, according to Harith CEO Sipho Makhubela.

From Fixed Assets to Fluid Movement

“By integrating a high-performance carrier like FlySafair into a portfolio that already includes Lanseria International, we are able to close the gap between fixed assets and the moving parts that drive regional commerce,” Makhubela stated. The vision is a unified logistics ecosystem where air, rail, and road corridors work in concert to reduce costs and boost trade.

The strategy is deeply intentional. Alongside FlySafair’s air routes, Harith is expanding Traxtion’s freight rail operations in line with South Africa’s rail reform and upgrading the critical Beitbridge crossing between Zimbabwe and South Africa. “We are literally investing in the frictionless movement of people and goods,” Makhubela emphasised.

Navigating Ownership and Regulation

The transaction would see current majority owner, Ireland’s ASL Aviation Holdings, exit the business, while FlySafair’s highly regarded management team remains. This shift could also help resolve long-standing scrutiny over the airline’s ownership structure. South African law requires 75% local ownership of domestic airlines, a rule that ASL’s previous 75% economic exposure through trusts had tested. Harith, a South African firm chaired by Tshepo Mahloele, would bring the airline firmly under local control, though regulatory approval is still pending.

FlySafair clarified that the deal was not a direct reaction to the ongoing regulatory review but the result of extended negotiations. The airline, which started with two planes in 2014 and now commands a 67% domestic market share with over 30 aircraft, represents a prized operational asset.

Building the “Continental Platform”

For Harith, whose investments also extend to energy (like the Kelvin Power Station), the FlySafair acquisition is about creating a “continental platform.” It’s a bet on integrating transport with digital and energy infrastructure to unlock what Makhubela calls “hidden economic potential” and drive regional industrialisation.

If approved, the deal will mark a pivotal moment: a homegrown infrastructure fund taking the helm of the country’s leading airline, not to run it in isolation, but to weave it into the very fabric of Southern Africa’s trade arteries. The goal is clearto ensure that whether by air, rail, or road, the path to shared prosperity is wide open and efficiently managed under one strategic vision.

{Source: BusinessDay}

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