Pegasus Airlines is set to acquire Czech Airlines and its subsidiary Smartwings for €154 million ($179 million), aiming to expand its European presence and global growth.

The deal, pending regulatory approval, combines both carriers’ networks, expertise, and resources to offer passengers wider connectivity and affordable fares.

Commenting on the acquisition, Pegasus Airlines CEO Güliz Öztürk said: “At Pegasus Airlines, we set out in 2005 with a bold ambition - to make air travel accessible to everyone. Since then, we’ve expanded our fleet from 14 to 127 aircraft, becoming one of the world’s most efficient and profitable airlines.  Now, by joining forces with Czech Airlines and Smartwings, which have a combined fleet size of 47, we’re opening a new chapter in our growth journey.

“A shared vision has emerged with Czech Airlines and Smartwings management: together, we aim to spread our wings across Europe with two distinctive brands, Smartwings and Pegasus Airlines. This integration is not just about growth, but about creating resilient, technology-driven companies that put safety at the heart of operations and are prepared to meet the future to deliver easy, personalised and efficient travel experiences. We look forward to shaping this future together.

“Today, I can confidently say that - We didn’t start aviation in Türkiye, but we transformed it - and now, we’re ready to take the next step in our growth story. Together with Czech Airlines and Smartwings, we have a shared vision: as Pegasus Airlines and Smartwings operating under two distinct brands, we will continue spreading our wings across the world.”

“The management and shareholders extend their sincere gratitude to all employees, partners, and passengers for their loyalty, trust, and contribution to the company’s success. We look forward to seeing Czech Airlines and Smartwings continue to thrive under Pegasus.” -TradeArabia News Service