Photo: Press Release In December 2025, Pegasus Airlines announced that it had signed an agreement to acquire the Czech company and its stake in Czech Airlines.
Even before Pegasus Airlines came into the picture, Smartwings had been on Israir's radar for a long time. The company had been in talks to acquire it for more than two years, and at one point even made progress toward purchasing some of the shares. In July 2025, Israir decided to end the negotiations after the Czech shareholders changed the terms of the deal.
Before that, Polish airline LOT was also interested in acquiring Smartwings, but talks with it did not lead to a deal.
The deal also required regulatory approval in the Czech Republic. In September 2026, the Competition Authority approved the acquisition subject to conditions, including the transfer of slots to a competitor in the summer season on the Prague-Antalya route, to allow competition on the route.
At the time, the Authority noted that the decision was not yet final, as the appeal period had not yet ended.
In a statement released today, Pegasus Airlines said the companies will continue to operate as two separate brands, Pegasus Airlines and Smartwings. The company said it intends to combine their strengths, experience and international reach, and presented the move as a significant step in its expansion in Europe and around the world.
Pegasus Airlines added that the two companies share a commitment to safe, reliable and accessible flights, and that they look forward to creating new travel options for passengers in Europe and beyond.