Cape Town — FlySafair is reportedly challenging an Air Licensing Council ruling that found it in violation of South African foreign ownership laws.
According to Businesstech, a ruling from early November revealed that FlySafair’s ownership structure violated South African laws limiting foreign ownership in local airlines to 25%.
The main shareholder, ASL Aviation Holdings based in Ireland, holds a 74.86% stake in FlySafair, the report said.
If the Council’s review proceeds, it could result in penalties that may affect FlySafair’s operations, it said.
FlySafair plans to challenge the ruling in a meeting next week, but could face a suspension of its license if it fails to resolve the ownership issue, The Citizen reported on Wednesday.
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Compiled by Matthew Petersen
