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Pegasus Airlines Completes Acquisition of Smartwings Group

October 2, 2026

3 min read

Key Takeaways

Pegasus Airlines completes acquisition of Smartwings Group.
Acquisition includes historic CSA Czech Airlines brand.
Deal valued at €154 million for 100% of the Czech group.
Pegasus controls 70% directly and 30% indirectly.

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Strategic Implications

This acquisition may signal Pegasus Airlines' expansion into the European market, potentially increasing its competitiveness against other regional carriers. The deal could also indicate a shift in the Turkish carrier's strategy, focusing on growth through strategic acquisitions, which may set a precedent for future consolidation in the industry.

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What Happened

Turkish Carrier Expands European Footprint Through Strategic Acquisition

Pegasus Airlines has completed its acquisition of Smartwings Group, the largest carrier in the Czech Republic, in a deal valued at €154 million. The acquisition includes the historic CSA Czech Airlines brand, although it no longer has its own Air Operator Certificate. Pegasus Airlines will control 70% of the group directly and 30% indirectly through its acquisition of Smartwings. The Turkish carrier has announced plans to cooperate with Smartwings, but has not yet provided details on how the synergies between the two companies will materialize. The acquisition was approved by Czech competition authorities in September 2026, after Pegasus agreed to relinquish some slots on the Prague-Antalya route. This development was first reported by AeroTime.

Source | Originally Published: October 2, 2026

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