In a move expected to reshape the Central European airline market, the Turkish low-cost carrier Pegasus Airlines is acquiring Czech Airlines and its subsidiary Smartwings in a 154 million agreement.
The company describes the deal as a major step toward achieving its international growth objectives, aiming to strengthen its presence in the European market and support the groups further global expansion.
Although the two airlines will continue for now to operate under separate commercial brands, the future of the historic Czech Airlines name remains uncertain.
The completion of the acquisition is subject to approval by the relevant regulatory authorities and the fulfillment of specific transfer conditions.
Founded in 1990, Pegasus Airlines serves 158 destinations in 55 countries. On the other hand, Smartwings and Czech Airlines operate a network of 80 destinations in 20 countries and maintain close partnerships with major tour operators.
Pegasus aims to leverage the experience and infrastructure of both companies to create a next-generation organizational structure that will offer passengers greater network coverage and affordable fares.
Pegasus CEO G?liz ?zt?rk emphasized that the company started in 2005 with the goal of making travel accessible to everyone, expanding its fleet from 14 to 127 aircraft.
By joining forces with Czech Airlines and Smartwings, we are opening a new chapter in our growth journey, she said, noting that the collaboration is based on a shared vision for two strong, technologically advanced, and safe brands in the European market.
Meanwhile, the main shareholder of Czech Airlines and co-founder of Smartwings, Ji?? ?im?n?, highlighted that the companies managed to grow with limited resources and without state support, overcoming many challenges.
He expressed confidence that Pegasus is the ideal new owner, offering passengers new benefits, increased connectivity, and an ever-improving travel experience.
He also thanked employees, partners, and passengers for their trust and contribution to the companies journey, expressing optimism that Czech Airlines and Smartwings will continue to thrive under the new ownership.
