JOHANNESBURG, South Africa — The proposed takeover of FlySafair by infrastructure investor Harith has received a pivotal green light, as recommended by the South Africa Competition Commission.
The commission’s endorsement of Harith’s acquisition of the airline signifies a critical regulatory milestone for both entities. FlySafair, established in 2013 and the largest operator of Boeing 737 aircraft in Africa, has grown its fleet to 37 aircraft and offers over 1,250 weekly flights across domestic and regional routes.
The acquisition, set to be executed through Harith Aviation, is anticipated to introduce fresh investments and opportunities to the airline. Under the terms of the deal, Harith is required to ensure fair treatment of all airlines at Lanseria International Airport, where the investor also holds ownership stakes.
The commission has stipulated that the agreement must not grant FlySafair an unfair advantage over competitors. FlySafair has expressed optimism about the regulatory process, welcoming the commission’s recommendation.
The airline has faced pressure to secure a local bidder after legal challenges concerning its foreign ownership.
The acquisition comes on the heels of Harith’s earlier failed attempt to purchase South African Airways. Harith General Partners, known for its investments in transport infrastructure, views this acquisition as a strategic move to enhance its position in the aviation sector. FlySafair’s management and employees have voiced confidence in the airline’s long-term prospects following the acquisition.
The deal is also seen as a significant step towards black empowerment in South Africa’s aviation industry.
As FlySafair gears up for new ownership, the industry awaits the impact of the acquisition on the airline’s growth and development.
The airline’s commitment to affordability and accessibility places it in a strong position to continue as a key player in the aviation market.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: enca
Source: Zandile.Khumalo
