Pegasus Airlines will rely on Czech Airlines to strengthen its presence in Europe and support its global growth. The Turkish carrier announced on December 8 that it had reached an agreement to acquire its Czech counterpart and its subsidiary Smartwings. The deal represents an investment of €154 million, covering both airlines and their associated liabilities.
If approved by the relevant authorities, the merger plan calls for the continuation of two brands — Pegasus and Smartwings. The century-old Czech Airlines name will not return to service, as CSA Czech Airlines ceased operations in October 2024.
“At Pegasus Airlines, we launched in 2005 with a bold ambition: to make air travel accessible to everyone. Since then, we have expanded our fleet from fourteen to 127 aircraft, becoming one of the most efficient and profitable airlines in the world. Today, by joining forces with Czech Airlines and Smartwings, which together operate a fleet of 47 aircraft, we are opening a new chapter in our growth journey,” said Güliz Öztürk, CEO of Pegasus Airlines.
Czech Airlines shareholders and Smartwings’ founders, for their part, believe that Pegasus “has the potential and capabilities needed to continue expanding and strengthening the company’s operations.”
Pegasus Airlines operates a fleet mainly composed of Airbus A320neo and A321neo aircraft, serving 158 destinations in 55 countries. Smartwings, by contrast, relies primarily on Boeing 737s, operating a network of 80 destinations across twenty countries.
