(Ecofin Agency) - FlySafair could soon fall under the management of British fund manager Star Capital. The latter signed an agreement, subjected to required authorizations, for the full acquisition of ASL Holding, the Ireland-based head office of the cheap flight firm.
For Star Capital, this is an opportunity to acquire operations with good growth prospects. Founded in 2014 in a highly competitive South African air transport sector, FlySafair managed to become profitable within two years.
Star Capital also plans to acquire Safair, an aviation company used for logistics operations in East Africa (Somalia and South Sudan notably), where it supports humanitarian services.