FlySafair refutes claims of foreign ownership despite reports from South Africa's Air Services Licensing Council and the International Air Services Council. The airline insists the issue stems from its ownership structure involving trusts and companies rather than individuals, a position that may not comply with South African regulations. FlySafair faces potential license revocation if it fails to address these concerns, which could significantly impact the South African tourism and airline industry.
Popular airline FlySafair has clapped back at reports that it has foreign owners, which is illegal according to South African law, and instead says that there “has been no specific finding that FlySafair is foreign owned.”
“It’s accurate that both have declared us non-compliant with the nationality provisions of their acts. However, the international council is yet to share their reasoning so we cannot assume that they have made this decision based on a view that we are foreign owned.” “They are arguing that we are not compliant because the airline is owned by a combination of trusts and companies rather than warm-blooded individual people. This is a different issue which has a massive implication because most airlines are owned by companies and trusts rather than individuals.”In its website, ALS says it retained “a minority shareholding in the South African company” namely the Safair Group, which launched FlySafair in 2013.
Safair Operations Limited is nearly 50 percent owned by the trustees of the Safair Investment Fund, which are a beneficiary of SAFOPS Investment Holdings. This holdings firm is then 100 percent owned by African Investments DAC – which itself is 100 percent owned by – you guessed it –Now to the other half. The first 25 percent is owned by Safair Holdings, which is 100 percent owned by Safair Aviation Ireland DAC, which is then also wholly owned by ASL Aviation Holdings.
Aviation FLYSAFAIR FOREIGN OWNERSHIP SOUTH AFRICA AVIATION LICENSING AIR SERVICES LICENSING COUNCIL
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