Turkish low-cost carrier Pegasus Airlines has signed an agreement to acquire Smartwings Group and its shareholder Czech Airlines (ČSA) for around €154 million. The deal will create a powerful new low-cost network linking Istanbul, Prague and Central Europe with destinations across Europe, the Middle East and beyond.

The acquisition is still subject to regulatory approvals in the EU and Türkiye, so operations will continue as normal for now. If approved, the final transfer of ownership is expected to be completed by 2026.

Pegasus–Smartwings deal at a glance

• Buyer: Pegasus Airlines (Türkiye)
• Target: Smartwings Group, including Czech Airlines (ČSA)
• Deal value: Approx. €154 million
• Goal: Expand Pegasus’ presence in Central Europe and grow its low-cost network
• Status: Agreement signed, pending regulatory approval
• Expected closing: After competition approvals, likely by 2026

Pegasus says the move opens “a new chapter” in its global growth strategy, promising more destinations, more choice and affordable fares, supported by a technology-driven, personalised travel experience.

Who are Pegasus Airlines, Smartwings and Czech Airlines?

Pegasus Airlines – Turkey’s fast-growing low-cost carrier

• Founded in 1990, now one of Europe’s largest low-cost airlines
• Operates flights to around 150–160 destinations in 55 countries, using a young and fuel-efficient fleet
• Main hub: Istanbul Sabiha Gökçen Airport (SAW) on the Asian side of Istanbul
• Strong network to European capitals, plus routes to the Middle East, North Africa and Central Asia

Pegasus is known for low fares, high aircraft utilisation and digital services, including a user-friendly app, online check-in and a wide choice of add-ons.

Smartwings – Czechia’s largest airline

• Biggest airline in the Czech Republic, headquartered at Václav Havel Airport Prague
• Fleet of about 42 aircraft, mainly Boeing 737s and Airbus A320/A220s
• Serves 40+ destinations in 25 countries, focusing on leisure routes across Europe, North Africa and the Middle East
• Also operates through subsidiaries Smartwings Poland, Hungary and Slovakia

Smartwings combines charter flights for tour operators with an expanding network of scheduled services from Prague and other Czech airports.

Czech Airlines (ČSA) – a historic brand with a new future

• One of the oldest airlines in the world, now part of the Smartwings Group
• In recent years, many routes have been operated by Smartwings aircraft under the ČSA brand
• The Pegasus deal gives ČSA a new strategic owner and potentially more stable long-term outlook

What this deal means for travellers

1. More routes and better connections

Bringing together the networks of Pegasus, Smartwings and Czech Airlines should create a much denser web of connections, especially between:

• Central Europe (Prague, Kraków, Budapest, Bratislava, etc.)
• Istanbul Sabiha Gökçen (SAW) – Pegasus’ main hub
• Leisure destinations across Spain, Portugal, Italy, Greece, Turkey, Egypt, Canary Islands, Madeira and the Middle East

For travellers, this can mean:

• More non-stop holiday flights from Central Europe
• Easier one-stop connections via Istanbul to the Middle East, Caucasus and Central Asia
• Better options for combining city breaks in Prague and Istanbul with onward travel

2. Stronger low-cost competition – and potentially cheaper fares

Both Pegasus and Smartwings are low-cost or leisure-focused airlines, and the combined group is likely to continue competing aggressively on price.

• Pegasus already offers budget-friendly fares on a wide network.
• Smartwings specialises in holiday routes, often in cooperation with tour operators.

As capacity and network grow under one owner, passengers may see:

• More promo fares on new and existing routes
• Better off-season deals to sun destinations
• Stronger competition with other low-cost airlines across Europe

3. A more seamless, tech-driven travel experience

Pegasus invests heavily in digital tools and self-service options – from booking and seat selection to ancillaries like baggage and meals.

Once systems are integrated, the group can:

• Offer more consistent online booking and check-in across Pegasus, Smartwings and ČSA flights
• Introduce unified loyalty or benefits (for example, through Pegasus’ BolBol programme)
• Make it easier to manage connections, change flights and add extras in one place

4. New opportunities for Prague and Istanbul

The deal also reshapes the role of the two main hubs:

• Prague (PRG) remains the key base for Smartwings and Czech Airlines, but with the backing of a strong regional group focused on growth.
• Istanbul Sabiha Gökçen (SAW) is already one of the busiest low-cost hubs in the region and will gain even more feed from Central Europe and beyond.

For travellers, that means more choice of connection points and better access to both cities as gateways.

Will anything change for existing Smartwings and Czech Airlines bookings?

For now, nothing changes for tickets already booked with Smartwings or Czech Airlines:

• Flights remain scheduled and operated as planned
• Terms & conditions of your original booking still apply
• Any changes or cancellations should be handled via the original airline or travel agent

Only after regulators approve the deal and integration begins will we start to see:

• Possible schedule adjustments
• New codeshare flight numbers
• Changes to the branding or website structure

All such changes will be announced in advance by the airlines.

When will passengers see real changes?

Although the agreement is signed, closing the transaction will take time:

• The deal must be cleared by competition authorities in the EU, Czech Republic and Türkiye
• Analysts expect the process could last into 2026 before full transfer of ownership is complete

Real, visible changes for travellers – such as joint schedules, better through-tickets and coordinated promos – will likely roll out gradually over the next few years.

FAQ: Pegasus–Smartwings–Czech Airlines deal

Is Pegasus Airlines buying Czech Airlines?
Yes. Pegasus Airlines has agreed to buy the entire Smartwings Group, which includes Czech Airlines (ČSA), for about €154 million, subject to regulatory approval.

Will the Smartwings and Czech Airlines brands disappear?
In the short term, both brands are expected to continue operating. Long-term branding decisions have not yet been confirmed; any changes would be communicated later.

Will flights become more expensive or cheaper?
Both Pegasus and Smartwings are low-cost carriers, so the combined group is likely to continue focusing on competitive prices, especially on leisure and holiday routes.

From when can I book “combined” Pegasus–Smartwings flights?
Until the takeover is fully approved and systems are integrated, bookings remain separate. Over time, we may see more coordinated schedules, through-tickets and shared booking platforms, but there is no fixed date yet.

Why is this deal important?
The acquisition creates a bigger low-cost player in Europe, with strong bases in Istanbul and Prague. That means more choice for travellers, new route combinations and better access to both Central Europe and the wider Pegasus network.