FlySafair’s Ownership Crisis: Facing Sanctions Amid Foreign Control Violations

South African budget airline FlySafair, known for affordable flights, is under pressure after South Africa’s International Air Services Licensing Council (IASC) found it in violation of foreign ownership laws. The council stated that Irish company ASL Aviation Group holds a 74.86% stake in the airline, well above the allowed limit. Now, FlySafair faces potential sanctions from regulators who are charged with ensuring that local airlines are majority-owned by South Africans.

These…