Turkish carrier Pegasus Airlines has completed its acquisition of Czech Airlines and Smartwings Group, the company announced on 1 October. The transaction strengthens Pegasus’ presence in Central and Eastern Europe, while Smartwings will continue operating under the existing Smartwings and Czech Airlines brands, maintaining its day-to-day operations and relationships with passengers and business partners.

The combined fleet comprises more than 175 aircraft, with further growth supported by existing firm orders for an additional 140 aircraft. Financial terms of the transaction were not disclosed in the announcement confirming the acquisition’s completion.

The acquisition brings together Pegasus’ international network and low-cost operating expertise with Smartwings’ strong position in the leisure travel market. Smartwings serves 80 destinations across 20 countries, with longstanding tour operator partnerships forming an important part of its business. Founded in 1990, Pegasus adopted its low-cost business model in 2005 and now serves 161 destinations across 57 countries.

According to the announcement, the partnership aims to strengthen competitiveness and enable further development while preserving the existing strengths of both airlines. Under the new ownership structure, Smartwings is expected to gain additional opportunities for innovation, business development and employee growth, while the acquisition expands Pegasus’ position in the European market.

Pegasus Airlines CEO Güliz Öztürk highlighted the opportunities the partnership creates to offer passengers greater choice. “Our story began with a dream of a world where everyone can fly, and today, Pegasus Airlines and Smartwings come together to take that ambition forward. Together we can grow further and offer our guests more choice than any of us could alone. The people and relationships behind each airline are the reason I’m confident in what comes next, and we look forward to writing the next chapter together with all our colleagues.”

Smartwings co-founder Jiří Šimáně highlighted the contribution of employees, passengers and partners to the airline’s development and expressed confidence in its new owner. “Smartwings has been built over many years by dedicated people and by the loyalty of passengers and partners, to whom I am deeply grateful. We are confident that Pegasus Airlines is the right partner to build on these strengths, support future growth and create lasting value for everyone connected with both airlines.”

Completion of the acquisition marks a new phase in the group’s development, focused on connecting more passengers and destinations across Europe and beyond. The announcement did not outline any specific changes to route networks, fleet deployment or service offerings.