Pegasus Airlines to Acquire Czech Airlines, Smartwings

Türkiye’s Pegasus Airlines has taken a significant step toward expanding its international footprint with an agreement to acquire Czech Airlines, one of the world’s oldest airline brands, along with its subsidiary, Smartwings, the leading leisure carrier in the Czech Republic.

This strategic move is designed to enhance Pegasus Airlines’ presence in Europe and support its ongoing global expansion efforts, the Turkish air carrier said in a statement, The Caspian Post reports.

According to the statement, the total value of the transaction stands at 154 million euros, covering both airlines and associated receivables.

The completion of the acquisition is subject to obtaining the necessary regulatory approvals and fulfilling other transfer conditions.

Established in 1990, Pegasus Airlines has, for more than two decades, made air travel accessible to millions through its low-cost business model. Today, the airline operates flights to 158 destinations across 55 countries, with one of the world’s youngest and most fuel-efficient fleets. Smartwings, the largest carrier in the Czech Republic, through its Smartwings and Czech Airlines brands, is among the most established airline groups in Central and Eastern Europe. The airline stands out with its network of 80 destinations in 20 countries, strong partnerships with tour operators, and its prominent position in the region’s leisure travel market.