Pegasus Airlines acquires Czech Airlines and Smartwings

Turkish low-cost airline Pegasus Airlines has completed its acquisition of Czech Airlines and the Smartwings Group after receiving all required regulatory approvals and fulfilling customary closing conditions.

The completion of the transaction marks a milestone in Pegasus Airlines’ international expansion and the future growth of Czech Airlines and Smartwings Group. The partnership brings together two established aviation businesses with complementary strengths and plans for long-term growth.

The combined fleet now comprises more than 175 aircraft, with further growth supported by firm orders for 140 additional aircraft already placed by the two airlines.

Established in 1990, Pegasus Airlines adopted its low-cost business model in 2005 and has since expanded its international network. The airline currently serves 161 destinations across 57 countries and operates one of the world’s youngest and most fuel-efficient fleets.

Smartwings Group, together with the Czech Airlines (CSA) brand, is one of the longest-standing airline groups in Central and Eastern Europe. It operates a network of 80 destinations across 20 countries and has established partnerships with major tour operators, giving it a strong presence in the region’s aviation market.

Commenting on the completion of the transaction, Güliz Öztürk, CEO of Pegasus Airlines, said: “Our story began with a dream of a world where everyone can fly, and today, Pegasus Airlines and Smartwings come together to take that ambition forward. Together we can grow further and offer our guests more choice than any of us could alone. The people and relationships behind each airline are the reason I'm confident in what comes next, and we look forward to writing the next chapter together with all our colleagues.”

Pegasus Airlines and Smartwings said the partnership will combine their respective strengths and support future growth. Pegasus brings its international network, operational expertise and low-cost business model, while Smartwings has an established presence in the Central and Eastern European leisure market.

Smartwings will continue to operate under its existing brand, with its day-to-day operations, customer relationships and services remaining unchanged, while gaining new opportunities for innovation and development.

“Smartwings has been built over many years by dedicated people and by the loyalty of passengers and partners, to whom I am deeply grateful. We are confident that Pegasus Airlines is the right partner to build on these strengths, support future growth, and create lasting value for everyone connected with both airlines,” said Jiří Šimáně, Co-founder of Smartwings.

Pegasus Airlines and Smartwings will now work together to expand connectivity across Europe and other international markets, while maintaining their focus on safety, operational standards and customer service.