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Pegasus Airlines set to acquire Czechia’s largest airline group Smartwings
Turkish low-cost carrier Pegasus Airlines is preparing to take full control of Smartwings Group, the largest airline operator in Czechia and the parent company of the national carrier Czech Airlines (ČSA), according to information confirmed by both companies on Monday.
The acquisition process officially began after Prague City Air, the current owner of Smartwings, launched the sale and Pegasus submitted its binding agreement. Smartwings spokeswoman Vladimíra Dufková stated that the transfer of all shares, including those of ČSA, will proceed once regulatory approvals are granted in Czechia and abroad.
The transaction marks a major turning point for Smartwings and ČSA, closing a turbulent chapter defined by financial instability, restructuring, and shifting ownership stakes. Media reports suggest the sale attracted multiple bidders, including Poland’s LOT, but Pegasus ultimately secured priority in negotiations.
Analysts say the takeover could significantly shape the future of Prague’s air connectivity, influencing route networks, competition with low-cost rivals such as Ryanair and Wizz Air, and the long-term strategic direction of the Czech market.
Founded in 1997, Smartwings manages several subsidiaries in Central Europe, including Smartwings Poland, Smartwings Slovakia, and Smartwings Hungary. The group currently operates a fleet of 42 aircraft serving around 40 international destinations.
The transfer of ownership may extend into 2026 due to the complex regulatory process, but the deal represents one of the most consequential shifts in Central Europe’s aviation sector in recent years.