Istanbul : Pegasus Airlines today announced the successful completion of its acquisition of Czech Airlines and Smartwings Group, following the receipt of all required regulatory approvals and the fulfilment of customary closing conditions.
The completion of the transaction marks an important milestone in Pegasus Airlines’ international expansion and Czech Airlines and Smartwings Group’s future growth. This strategic partnership brings together two established aviation businesses with complementary strengths and a shared ambition for long-term growth. The combined fleet includes more than 175 aircraft, with significant growth potential based on existing firm orders covering 140 aircraft, already secured by both airlines.
Established in 1990, Pegasus Airlines has, since adopting its low-cost business model in 2005, made air travel accessible to millions, guided by the belief that everyone has the right to fly. Today, the airline operates flights to 161 destinations across 57 countries, with one of the world’s youngest and most fuel-efficient fleets.
Smartwings Group is a leading leisure carrier and, together with the Czech Airlines (CSA) brand, forms one of the longest-standing airline groups in Central and Eastern Europe, with a network of 80 destinations across 20 countries, strong partnerships with leading tour operators, and a prominent position in the region’s aviation market.
By joining forces, Pegasus Airlines and Smartwings aim to preserve and extend what already works, while strengthening competitiveness and creating opportunities for future growth. Bringing together Pegasus Airlines’ wide international footprint, operational expertise and innovative low-cost model with Smartwings’ strong position and established presence in Central and Eastern Europe’s leisure market creates a stronger platform for long-term success and greater value for customers, employees and business partners.
Smartwings will continue to operate under its two brands, Smartwings and Czech Airlines, maintaining its day-to-day operations, customer relationships and service delivery, while gaining new opportunities for innovation and development, and for talent to thrive.
Commenting on the completion of the transaction, Güliz Öztürk, CEO of Pegasus Airlines, said:
“Our story began with a dream of a world where everyone can fly, and today, Pegasus Airlines and Smartwings come together to take that ambition forward. Together we can grow further and offer our guests more choice than any of us could alone. The people and relationships behind each airline are the reason I’m confident in what comes next, and we look forward to writing the next chapter together with all our colleagues.”
Jiří Šimáně, Co-founder of Smartwings, added:
“Smartwings has been built over many years by dedicated people and by the loyalty of passengers and partners, to whom I am deeply grateful. We are confident that Pegasus Airlines is the right partner to build on these strengths, support future growth and create lasting value for everyone connected with both airlines.”
United by a shared commitment to safety, operational excellence and customer experience, Pegasus Airlines and Smartwings now begin the next stage of their journey together, connecting more people and destinations across Europe and beyond.
