Dublin headquartered global aviation group, ASL Aviation Holdings, confirmed today that it has sold its interest in Johannesburg based low-cost airline FlySafair to South African investment conglomerate, Harith General Partners and its affiliates. The transaction remains subject to customary regulatory approvals, including approval by the South African Competition Commission.
Harith General Partners is the leading Pan-African infrastructure investor with over USD$3 billion in assets under management. Founded in 2006, Harith has established itself as a premier investor and developer of infrastructure assets across the African continent.
Harith provides investors with exposure to diversified infrastructure sectors, with a strong focus on transportation, energy, connectivity, and logistics.
The financial details of the transaction are not being disclosed.
Launched as South Africa’s first ‘true low-cost carrier’ in 2014 with 3aircraft, FlySafair is now the market leader, holding 67% of all domestic seat capacity. The airline now has a fleet of 39 B737 aircraft and has carried more 54 million passengers while reducing fares by up to 32% on some routes.
Today’s announcement was welcomed by Dave Andrew, ASL Group Chief Executive who was also the founding CEO of FlySafair.
Dave Andrew commented: “ASL Aviation Holdings is proud to have supported the growth of a fledgling airline to become a leader in African aviation, opening air travel to millions of South Africans for the first time. With new international routes now added to its network, the time has come to pass the baton to Harith who are ideally placed to oversee the airline’s continued development and growth”.
At the Dubai Air Show in December FlySafair announced the airline’s first two new B737-MAX aircraft, and just last month Cirium declared the airline best in Africa and the Middle East for on time performance, the fifth time it has won this accolade.
Commenting on the transaction, Tshepo Mahloele, Co-Founder and Chairman of Harith General Partners, said:
“FlySafair represents exactly the kind of African success story we seek to back: a well-run, resilient business delivering real economic value every day. Aviation is core infrastructure, and FlySafair has demonstrated how affordable, reliable air travel can unlock growth, jobs, and opportunity across Southern Africa. Our ambitions in this sector remain unchanged. We are excited to support the next phase of this journey and to support a company that South Africans can be genuinely proud of.”
As with all transactions of this nature, the acquisition is subject to regulatory approvals. Upon completion, FlySafair will continue to operate under its existing brand, leadership, and business strategy, with a focus on operational excellence, customer value, and sustainable growth.
SOURCE: ASL AVIATION HOLDINGS
IMAGE CREDIT: FLYSAFAIR
