Pegasus Airlines Acquires Smartwings for $179M, Ending LOT Interest
Turkish low-cost carrier Pegasus Airlines has announced a transformative $179 million (€154 million) acquisition of Czech carrier Smartwings and its shareholder Czech Airlines, pending regulatory approval. The deal, announced December 8, 2025, represents a major expansion milestone for Pegasus and concludes months of speculation surrounding the Czech carrier’s future ownership. The acquisition ends competitive bidding efforts by Poland’s LOT Polish Airlines, which had appeared close to securing Smartwings in November 2025. Under the agreement, Pegasus will acquire both Smartwings and Czech Airlines, which served as a holding company following its 2024 absorption into the Smartwings Group.