Pegasus Airlines completes €142m takeover of Smartwings and Czech Airlines

Pegasus Airlines, Türkiye's largest low-cost carrier, disclosed on 1 October 2026 in a stock-exchange filing that it had completed the acquisition of the Smartwings Group, including CSA Czech Airlines, for a total consideration of €142.3 million (about $160.5 million) after securing all regulatory approvals. The deal gives Pegasus a strategic foothold in Central and Eastern Europe's leisure market and merges two fleets to create a combined operation of more than 175 aircraft, with firm orders for a further 140 jets. Smartwings will keep its own brand and daily operations from Prague, while Pegasus plans to inject network, revenue-management and digital expertise. Analysts said the move accelerates European budget-market consolidation alongside the Wizz Air, Ryanair and IAG groups, and gives Czech travellers access to Pegasus's dense Istanbul-based network across the Middle East and North Africa. The announcement drove aviation-business headlines across Europe on 1 October 2026 and was widely republished on travel news sites.