Turkish low-cost carrier Pegasus Airlines (PC) has completed the acquisition of Smartwings Group through its Dutch-based subsidiary, Pegasus Europe B.V. The 142.3 million euros transaction was completed on Oct. 1, 2026, and covers České aerolinie, Smartwings and their subsidiaries.
Pegasus’ Acquisition strategy
Smartwings Group is a leading leisure carrier based in Central Europe; together with České aerolinie, it was one of the region’s longest-standing airline groups until České aerolinie ceased operations in 2024 after filing for bankruptcy. Pegasus finalised the acquisition of České aerolinie in December 2025 through an agreement with Prague City Air, acquiring 70% directly and the remaining 30% indirectly through Smartwings.
Pegasus finds the acquisition very significant to its growth. With Smartwings’ strong leisure-market presence, Pegasus gains an advantage in the region. With soaring operational costs and supply chain delays, combining fleets, networks, and other synergies helps the operator keep costs low and strengthen its competitiveness against other operators in the region. For passengers, this offers a varied choice of destinations across Central Europe.
Brand Identities Retained
Smartwings will continue to operate under its two brands. Speaking on the completion of the acquisition, Güliz Öztürk, CEO of Pegasus Airlines, said:
“Our story began with a dream of a world where everyone can fly, and today, Pegasus Airlines and Smartwings come together to take that ambition forward. Together we can grow further and offer our guests more choice than any of us could alone. The people and relationships behind each airline are the reason I’m confident in what comes next, and we look forward to writing the next chapter together with all our colleagues.”
Jiří Šimáně, co-founder of Smartwings, added:
“Smartwings has been built over many years by dedicated people and by the loyalty of passengers and partners, to whom I am deeply grateful. We are confident that Pegasus Airlines is the right partner to build on these strengths, support future growth and create lasting value for everyone connected with both airlines.”
According to ch-aviation, Smartwings Group operates 45 aircraft. Pegasus operates a fleet of six A320-200s, forty-six A320-200Ns, seventy-two A321-200NXs, and nine B737-800s, overall totalling 133 aircraft.
With airline acquisitions happening more often, do you think the competition has intensified? Let us know in the comments below.
