Pegasus Closes Its Czech Airlines and Smartwings Takeover at a Lower Price Than Announced

Pegasus Airlines has completed its acquisition of Smartwings Group, closing the deal on October 1 for €142.3 million, below the €154 million announced in December 2025 after closing adjustments. The purchase was made through Pegasus Europe B.V., a Dutch subsidiary, and leaves Pegasus holding 100% of České aerolinie, 70% directly and 30% indirectly through Smartwings. Approvals came from Turkey, the Czech Republic and other jurisdictions, with the Czech regulator requiring Pegasus to transfer some summer Prague-Antalya slots to another airline over competition concerns. The Smartwings and Czech Airlines brands will keep operating, with Czech Airlines now running as a brand within Smartwings rather than as a separately certificated carrier. Smartwings Group brings 45 aircraft across four air operator certificates, mostly Boeing 737s plus four A220-300s and two A320s, to a Pegasus fleet of 133 Airbus aircraft and Boeing 737-800s.