Turkish low-cost carrier Pegasus Airlines has signed an agreement to acquire Smartwings Group, including Czech Airlines (ČSA), in a deal valued at €154 million. The transaction covers both the purchase price and the assumption of debts and receivables linked to the Czech aviation group. Smartwings, formerly operating under the name Travel Service, is the largest airline in the Czech Republic. Together with ČSA, the group operates a fleet of 47 aircraft and serves around 80 destinations in 20 countries. The acquisition is expected to significantly expand Pegasus Airlines’ presence in the European market and strengthen its international network. Completion of the deal remains subject to regulatory approval in the Czech Republic and other countries where Smartwings operates. The approval process is expected to extend into 2026. Pegasus stated that the acquisition aligns with its long-term strategy of expanding its global footprint. Following the announcement, the airline’s shares rose by approximately 3% on the Istanbul stock exchange. 

Source: Reuters