Pegasus completes €154m takeover of Czech Airlines and Smartwings
Pegasus Airlines has completed its €154m acquisition of Czech Airlines and the Smartwings Group, creating a European airline group with more than 175 aircraft and firm orders for 140 more.
Pegasus Airlines has completed its acquisition of Czech Airlines and the Smartwings Group, closing a deal that gives the Turkish low-cost carrier a major foothold in Central and Eastern Europe.
The transaction closed on 1 October 2026 after Pegasus obtained the required regulatory approvals and fulfilled customary closing conditions, according to the companies. The combined groups now operate more than 175 aircraft, with firm orders covering a further 140 jets.
The €154 million deal, which includes related receivables and the companies covered by the transaction, was first announced in December 2025. Czech competition authorities cleared the merger after Pegasus offered remedies on the Prague–Antalya route, including the transfer of part of its summer-season airport slots to another airline to preserve competitive pressure.
Smartwings will continue operating under its established Smartwings and Czech Airlines brands, with day-to-day operations, customer relationships and service delivery unchanged. The closing announcement set out no specific route changes or a timetable for operational integration.
The combination brings together Pegasus’ low-cost network, centred on Türkiye and serving 161 destinations in 57 countries, with Smartwings’ leisure and tour-operator business across Central and Eastern Europe, spanning 80 destinations in 20 countries.
More on this topic: all Business stories