Istanbul, Türkiye: Pegasus Airlines has announced the completion of its acquisition of Czech Airlines and Smartwings Group after receiving all required regulatory approvals and fulfilling the customary closing conditions. The transaction marks a significant step in the airline’s international expansion and establishes a broader platform for growth across European aviation markets.
The combination brings together two aviation businesses with complementary networks and operating strengths. Their combined fleet comprises more than 175 aircraft, with further expansion potential supported by firm orders for 140 aircraft already secured by the airlines.
Pegasus Airlines Expands Its European Presence
Founded in 1990, Pegasus Airlines adopted its low-cost business model in 2005, building its business around making air travel accessible to more people. The airline now serves 161 destinations across 57 countries and operates a fleet described by the company as one of the world’s youngest and most fuel-efficient.
The acquisition of Czech Airlines and Smartwings Group strengthens Pegasus Airlines’ position in Europe by adding an established leisure aviation business with a strong presence in Central and Eastern Europe.
Smartwings Group, together with the Czech Airlines (CSA) brand, operates a network of 80 destinations across 20 countries. The group also maintains partnerships with major tour operators and an established position in the region’s leisure travel market.
Bringing these networks together creates opportunities to connect Pegasus Airlines’ international reach with Smartwings’ regional presence, while supporting the development of additional travel options for passengers.
Combined Fleet Creates Opportunities for Growth
The combined fleet of more than 175 aircraft provides a foundation for the next stage of the businesses’ development. Existing firm aircraft orders covering 140 aircraft also offer potential for future capacity growth.
Pegasus Airlines and Smartwings aim to build on their respective strengths while improving competitiveness and creating opportunities for customers, employees and business partners.
Pegasus Airlines brings its low-cost operating model, international network and operational expertise. Smartwings contributes its established position in Central and Eastern Europe’s leisure aviation market, together with its tour operator relationships and existing customer base.
The companies intend to use these complementary capabilities to support long-term growth while maintaining a focus on operational performance and customer experience.
Smartwings and Czech Airlines to Retain Their Brands
Following the acquisition, Smartwings will continue operating under the Smartwings and Czech Airlines brands. The businesses will maintain their day-to-day operations, customer relationships and service delivery while gaining opportunities for further development and innovation.
Keeping both brands in operation allows the group to build on their existing market identities and relationships while benefiting from the broader organisation.
The companies have also emphasised the importance of their employees and established partnerships as they begin the next phase of integration and growth.
Pegasus Airlines and Smartwings Leadership Welcome the Deal
Commenting on the completion of the transaction, Güliz Öztürk, CEO of Pegasus Airlines, said the acquisition would help advance the airline’s ambition to make air travel accessible while offering passengers more choice.
She highlighted the importance of the people and relationships behind both airlines, expressing confidence in the opportunities created by bringing the businesses together.
Jiří Šimáně, Co-founder of Smartwings, said the airline had been built through the commitment of its employees and the loyalty of its passengers and partners. He expressed confidence that Pegasus Airlines would provide a suitable partner for building on those strengths, supporting future growth and creating lasting value.
Both leaders highlighted the importance of continuing to develop the businesses while maintaining their established customer and partner relationships.
A New Chapter for European Aviation
The acquisition brings Pegasus Airlines and Smartwings into a new phase of cooperation, combining international connectivity with a strong regional leisure network.
For passengers, the expanded group has the potential to create more travel options across Europe and beyond. For the businesses, the transaction provides a larger operating platform and opportunities to build on their existing networks, fleets and commercial relationships.
As the airlines move forward together, their stated priorities include safety, operational excellence and customer experience. The continued operation of the Smartwings and Czech Airlines brands will also preserve their established market presence as the wider group pursues its international growth ambitions.
Related reading: Pegasus Airlines Adds Daily Flights London Gatwick–Istanbul | Turkish Airlines Hosts IATA’s World Safety and Operations Conference in Istanbul
Ahmed Abdul Wasey
Managing Editor, Eat ‘N Stays
Ahmed Abdul Wasey is the Managing Editor in Eat ‘N Stays, overseeing all editorial coverage of travel, hospitality, and food across Saudi Arabia and the wider Gulf region. He sets the publication’s editorial direction and reviews coverage across hotels, restaurants, tourism, cruise, and industry news before it publishes.
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