The Turkish low‑cost carrier Pegasus announced that it has reached an agreement to purchase the Czech airline Smartwings together with its parent company Czech Airlines. The transaction, valued at €154 million, will be carried out through the investment vehicle Prague City Air.
According to a statement from Pegasus, the ownership change is expected to be completed within the next twelve months. Smartwings spokeswoman Vladimíra Dufková confirmed the details.
Smartwings currently operates scheduled, charter and private flights to roughly 80 destinations, employing a fleet of close to 50 aircraft. The airline had previously been in negotiations with Poland’s flag carrier LOT, but those talks fell apart after Pegasus submitted a competing offer.
Founded in 1990, Pegasus serves 153 airports across 54 countries. Czech Airlines ceased its own operations in 2024, transferring all flights to its subsidiary Smartwings.
Source: www.cereport.eu
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