Harith gets Competition Tribunal green light on FlySafair deal
The acquisition is now set to be closed by the end of this year.
Sandton-based Harith Aviation has received final approval from the Competition Tribunal to complete its acquisition of FlySafair, the group announced on Thursday. Harith Aviation Consortium expressed its welcome for the Tribunal's decision, stating that the deal is set to close by the end of the year. FlySafair, South Africa's largest domestic airline and a major African regional carrier, is expected to continue operating independently under its existing management team.
This acquisition is seen as a significant investment in a thriving local airline, promoting economic growth by enhancing critical infrastructure. Harith's CEO, Sipho Makhubela, emphasized the company's confidence in FlySafair's success and its commitment to backing South African businesses with long-term capital. FlySafair CEO, Elmar Conradie, expressed excitement about the future of the airline and the potential for growth in the South African passenger aviation market.
Both parties are now working on meeting the remaining regulatory approvals and conditions precedent.
Written by urgent.news from The Citizen's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
