Photo: Pegasus Airlines PR The Turkish airline Pegasus Airlines continues to strengthen its position in the international aviation market by acquiring the Czech company Smartwings, along with a stake in Czech Airlines.
This move represents another step in the company's growth strategy in Europe and other global markets.
Pegasus notes that the merger will allow them to expand their range of destinations, offer more affordable prices, and improve the flight experience with technological solutions and personalized services for passengers. The acquisition is expected to give the company a significant competitive advantage due to a broader route network and access to new audiences.
Smartwings and Czech Airlines will continue to operate as part of the group, integrating Pegasus's commercial and operational capabilities.
Israir and LOT Were Also Interested
In the past year, Israir was in long negotiations to acquire the company until last July, when the Israeli airline announced they were abandoning the deal. In its stock exchange announcement, Israir noted that "the Czech shareholders informed the company's representatives about changes in the transaction conditions and their desire to complete it by the end of 2025. After examining the updated transaction conditions, Israir's board decided to end the negotiations to purchase Smartwings and continue exploring alternatives for the company's business development and expansion."
In recent weeks, European media reported that Polish airline LOT was also interested and even progressed in negotiations to acquire Smartwings, but this did not lead to a purchase. Concurrently, the Czech company conducted talks with the Turkish firm, which eventually acquired it.
Currently, the combined fleet of Smartwings and Czech Airlines includes more than 40 aircraft, primarily operating charter flights to vacation destinations. The company also leases aircraft and crews to other airlines, including Israeli airlines.
Now, with the Turkish company's takeover of the Czech one—and the halt in flights between Israel and Turkey along with the general disconnect between the two countries—it will be very interesting to see where Pegasus will lead the company, despite their initial statement on continuing separate operations from Pegasus.