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Turkish low-cost carrier Pegasus Airlines has completed its acquisition of Czech Airlines and Smartwings Group after receiving all required regulatory clearances, the company said, a deal that pushes the combined carriers' fleet past 175 aircraft and positions Pegasus for deeper expansion into the European market.
The transaction, which brings together Pegasus with the Central and Eastern European aviation group, closed once all necessary approvals were secured. With the acquisition finalized, the two airlines' combined fleet now numbers more than 175 aircraft, and their joint order book stands at 140 additional planes, according to the companies.
Pegasus described the closing as a major step in its international growth, while Smartwings Group framed it as the foundation for its own future expansion, with both sides pointing to a new phase of growth across the European market.
Pegasus has built its business on a low-cost model it adopted in 2005, a shift that the airline says has helped make air travel more affordable and accessible for millions of passengers in Türkiye and beyond. The carrier now flies to 161 destinations in 57 countries and operates what it describes as one of the youngest and most fuel-efficient fleets in the industry.
Smartwings Group, by contrast, is focused on leisure travel and ranks among the established airline groups of Central and Eastern Europe, a region where it operates alongside its CSA brand, a reference to Czech Airlines, long known by that abbreviation as the flag carrier of the Czech Republic and one of Europe's oldest airlines.
The group's network spans 80 destinations in 20 countries, built in part through partnerships with major tour operators serving the leisure market.
Despite the change in ownership, Smartwings said it will continue operating under its existing brand name, with no immediate changes to its day-to-day operations, customer relations, or service delivery.
The company said the acquisition is expected to open new opportunities in innovation, development, and workforce training, though it did not provide further detail on specific initiatives or timelines.
Pegasus and Smartwings said combining their respective strengths and operating experience is intended to build a stronger joint structure to support long-term growth, with both companies citing potential benefits for passengers, employees, and business partners alike. Neither company disclosed the financial terms of the transaction.
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