Pegasus Airlines acquires Czech Airlines and Smartwings
Pegasus Airlines has taken a decisive step in its international growth strategy by announcing an agreement to acquire Czech Airlines, one of the world's oldest aviation brands, and its subsidiary Smartwings, the Czech Republic's leading leisure airline. The total investment amounts to 154 million euros, including companies and related receivables. The completion of the transaction remains subject to obtaining regulatory approvals and completing the transfer conditions.
Founded in 1990, Pegasus Airlines has made air travel accessible through its low-cost model, building over the years a network of 158 destinations in 55 countries and one of the youngest and most fuel-efficient fleets in the world. Smartwings (through the Smartwings and Czech Airlines brands) is the leading operator in the Czech Republic, with 80 destinations in 20 countries, strong partnerships with tour operators and a key position in the Central European leisure tourism market.
A wider network and competitive rates
The integration will allow Pegasus Airlines to bring together the experience and resources of the two carriers, creating a future-oriented organization capable of offering Travellers a more extensive network, better connections and competitive fares. The two companies will continue to operate under distinct brands, but with integrated strategies and shared expertise.
With the entry of Czech Airlines and Smartwings, which together have 47 aircraft, Pegasus Airlines opens a new chapter in our growth and expand connections in Europe. As pointed out by Güliz Öztürk, CEO of Pegasus Airlines, the integration with the two European carriers represents a shared project, based on innovation, operational safety and the desire to offer passengers an increasingly personalized and efficient travel experience.
The founders and shareholders of Smartwings and Czech Airlines, after almost 27 years at the helm of the group, said they chose Pegasus Airlines as the new owner because of the carrier's solidity and its ability to further expand operations.
Smartwings
Smartwings, a.s., the largest Czech airline and a member of the Smartwings Group, has been present in the market for 28 years and operates a network of 80 destinations in 20 countries. Other airlines in the Group include Smartwings Poland, Sp. z.o.o., Smartwings Slovakia, s.r.o., and Smartwings Hungary, Kft. Smartwings Group operates scheduled services, charter flights and business-jet category private flights. In addition to scheduled and charter flights, also provides a wide range of special flights for international corporations and global humanitarian and athletic organisations. Smartwings is a member of the International Air Transport Association (IATA) and receives the IOSA (IATA Operational Safety Audit).
Pegasus Airlines
Founded in 1990, Pegasus Airlines adopted a low-cost business model after being acquired by ESAS Holding in 2005. As Turkey's leading low-cost airline, Pegasus offers low-cost travel on a young fleet of aircraft. Pegasus' network spans 158 destinations in 55 countries, including 39 domestic (Turkey) and 119 international routes. Operating primarily through its main hub at Istanbul's Sabiha Gökçen Airport (SAW) and other airports in Turkey, it offers seamless connections between Turkey and Europe, the Middle East, North Africa, and Asia. Pegasus Airlines is a member of the International Air Transport Association (IATA) and receives the IATA Operational Safety Audit (IOSA) certification, which represents the most advanced standards of operational safety and quality in air transport.
