Turkish low-cost carrier Pegasus Airlines has announced its agreement to acquire Czech airline Smartwings in a £154-million deal. The acquisition, subject to regulatory approval, aims to boost Pegasus’ presence in the European market. Smartwings, the largest carrier in the Czech Republic, will retain its brand name and operate independently.
The strategic investment will enable Pegasus to expand its global reach, with Smartwings’ fleet of 47 aircraft serving 80 destinations across 20 countries. The founders and shareholders of Smartwings’ holding company, Czech Airlines, have stated that they have made the decision to transfer ownership to Pegasus, citing the Turkish carrier’s potential to further expand and strengthen operations.
Smartwings has been operating as a low-cost carrier for two decades, with its origins tracing back to charter company Travel Service. In 2018, Travel Service acquired control of Czech Airlines, and the holding company took on the name. The final flight under Czech Airlines’ livery took place in 2024, with Smartwings taking over operations.
Pegasus Airlines, established in 1990, operates 158 international routes to 55 countries, with an additional 38 domestic destinations within Turkey. The carrier is based at Istanbul’s Sabiha Gokcen airport and has been expanding its global network. The acquisition of Smartwings is expected to strengthen Pegasus’ position in the European market, with the two carriers operating as distinct brands.
The deal, valued at $180 million, is subject to regulatory approval. Once finalized, the acquisition will mark a significant expansion of Pegasus’ presence in Europe. With the combined operations of Smartwings and Pegasus, the carriers will be well-positioned to compete in the European market, offering a range of routes and services to passengers. The next steps for the acquisition will involve regulatory review and approval, after which the carriers can begin integrating their operations and expanding their services.
