Photo: Pegasus Airlines PR The Turkish airline Pegasus Airlines continues to strengthen its position in the international aviation market by acquiring a stake in the Czech company Smartwings, alongside its stake in Czech Airlines.
This move is another step in the company's growth strategy in Europe and other global markets.
Pegasus notes that the merger will enable them to expand their destination range, offer more affordable prices, and improve the flight experience through technological solutions and personalized passenger services. The acquisition is also expected to provide the company with a significant competitive advantage thanks to a broader route network and access to new audiences.
Smartwings and Czech Airlines will continue to operate as part of the group, integrating the commercial and operational capabilities of Pegasus.
Last year, Israir was in lengthy negotiations to buy the company, until last July when the Israeli airline announced its decision to withdraw from the deal. In its statement to the stock exchange, Israir stated that "the Czech shareholders informed the company's representatives about changes in the terms of the deal and their desire to complete it by the end of 2025. After examining the updated terms, Israir's board decided to end negotiations for the acquisition of Smartwings and to continue exploring alternatives for the company's business development and expansion."
In recent weeks, European media reported that the Polish airline LOT was also interested and had even advanced in negotiations to acquire Smartwings, but the deal did not materialize, while the Czech company simultaneously engaged in talks with the Turkish one, which eventually acquired it.
Currently, the combined fleet (Smartwings and Czech Airlines) includes more than 40 aircraft, mainly operating charter flights to vacation destinations. The company also leases planes and crews to other airlines, including Israeli airlines.
Now that the Turkish company has taken over the Czech one, it will be very interesting to see where Pegasus will lead the company, despite the initial statement that the company will continue to operate separately from Pegasus's activities.