Turkish carrier Pegasus Airlines has agreed a deal to buy Czech Airlines and its subsidiary Smartwings.
Istanbul-based Pegasus said the €154 million acquisition would allow it to “strengthen the company’s presence in Europe and support its continued global expansion”.
The Czech aviation company operates a network of flights to 80 destinations in 20 countries through the Czech Airlines and Smartwings brands.
Pegasus Airlines’ CEO Güliz Öztürk said that the acquisition would add another 47 aircraft to the company’s existing fleet of 127 planes.
“A shared vision has emerged with Czech Airlines and Smartwings management: together, we aim to spread our wings across Europe with two distinctive brands, Smartwings and Pegasus Airlines,” added Öztürk.
“This integration is not just about growth, but about creating resilient, technology-driven companies that put safety at the heart of operations and are prepared to meet the future to deliver easy, personalised and efficient travel experiences. We look forward to shaping this future together.”
Jiří Šimáně, co-founder of Smartwings and a Czech Airlines shareholder, said: “We are confident that Pegasus Airlines represents the ideal shareholder for Czech Airlines and Smartwings, one that will bring millions of passengers across its network new benefits, enhanced connectivity and a continued joy of travel.”
The acquisition will need to receive regulatory approvals and meet other “transfer conditions” before being completed. No date has been given for the expected completion of the transaction.