Pegasus Airlines is buying Smartwings and Czech Airlines for 154 million euros. This transaction will take place after the necessary legal approvals are completed. With this acquisition, Pegasus has taken an important step in its international growth targets. The transaction amount includes the debts of both companies. The acquisition process will be completed after the legal approvals and other transfer conditions are met.
Smartwings, operating under the brands Smartwings and Czech Airlines, is the largest airline in the Czech Republic and one of the prominent airline groups in Central and Eastern Europe. The company stands out with its extensive flight network covering 80 destinations in 20 countries, strong partnerships with tour operators, and its effective position in the regional tourist travel market.
“We’re opening a new chapter by combining our strengths with a fleet of 47 aircraft,” said Pegasus Airlines CEO Güliz Öztürk regarding the acquisition. “As Pegasus Airlines, we set out with a bold goal in 2005: to make air travel accessible to everyone. Today, we’ve grown our fleet from 14 to 127 aircraft, becoming one of the most efficient and profitable airlines in the world. Now, we’re combining our strengths with the 47-aircraft fleet of Czech Airlines and Smartwings, opening a new chapter in our growth journey. However, our goal is not just to scale up, but to create a strong, future-ready structure focused on flight safety, technology, efficiency, and guest experience. Today, I can confidently say that we’ve changed the aviation industry in Turkey. Now, we’re ready to move on to the next stage of our growth journey. With Czech Airlines and Smartwings, we share a common vision: two different brands, Smartwings and Pegasus, will continue to spread our wings to the world.”
“We’ll offer more advantages and improved connections,” said Jiří Šimáně, shareholder of Czech Airlines and co-founder of Smartwings. “We’re proud to have built Smartwings and Czech Airlines to where they are today, without limited financial resources or state support. Over the years, we’ve overcome many challenges by sticking to innovation, resilience, and guest satisfaction. We believe that Pegasus Airlines is the ideal shareholder for Czech Airlines and Smartwings, and that this will offer our guests more advantages, improved connections, and travel opportunities. We thank all our employees, business partners, and guests for their loyalty, trust, and contributions. We’re delighted to see Czech Airlines and Smartwings continue to grow under the Pegasus umbrella.”
Pegasus Airlines, which started operations in 1990 and has provided travel access to millions of people with its low-cost aviation model over the past twenty years, now flies to 158 destinations in 55 countries and has one of the youngest, most fuel-efficient fleets in the world.
