Turkish low‑cost carrier Pegasus Airlines has agreed to acquire Czech airline Smartwings in a deal worth £154 million (approximately $180 million), pending regulatory approval. The purchase is intended to strengthen Pegasus’s presence in the European market while allowing Smartwings to retain its brand name and operate independently.
Smartwings, the largest airline in the Czech Republic, operates a fleet of 47 aircraft that serve 80 destinations across 20 countries. Its founders and shareholders, who control the holding company Czech Airlines, have decided to transfer ownership to Pegasus, citing the Turkish carrier’s potential to further expand and reinforce operations. Smartwings has functioned as a low‑cost carrier for two decades, evolving from the charter company Travel Service. In 2018, Travel Service took control of Czech Airlines and adopted the Smartwings name; the final flight under Czech Airlines livery occurred in 2024, after which Smartwings assumed all operations.
Pegasus Airlines, founded in 1990, currently operates 158 international routes to 55 countries and 38 domestic destinations within Turkey. Based at Istanbul’s Sabiha Gökçen Airport, the airline has been steadily expanding its global network. The acquisition of Smartwings is expected to enhance Pegasus’s competitive position in Europe, with both airlines continuing to operate under their distinct brands.
The deal remains subject to regulatory review and approval. Once cleared, the integration of Smartwings and Pegasus will create a combined operation well‑placed to compete in the European market, offering a broader range of routes and services to passengers.
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