The Czech airline Smartwings is reportedly on the verge of being sold to the Turkish low-cost carrier Pegasus Airlines. Media outlets report that Pegasus has already signed an agreement to acquire Smartwings. The Polish state-owned airline LOT is also said to have shown interest.
The Czech airline Smartwings is apparently set to be sold to the Turkish low-cost carrier Pegasus Airlines. Pegasus announced on the platform X that it had signed an agreement to acquire Smartwings and its parent company ČSA. Turkish media report that Pegasus has valued the purchase price at €154 million (around CZK 3.8 billion).
“Prague City Air announces that it has initiated the sales process for ČSA with Pegasus. This is expected to be completed with the transfer of ČSA shares following approval by the relevant regulatory authorities and other third parties, as well as the fulfilment of contractual conditions within the next twelve months. ČSA holds 100 per cent of the shares in Smartwings,” report numerous Czech media outlets.
According to Türkiye Today, Prague City Air s.r.o., as the seller, signed a binding agreement with Unimex Group a.s., which assigned its claims. The agreement covers the entire share capital, including the equity of the Smartwings Group as well as any assumed shareholder debts.
The purchase price has not been officially confirmed by either party. According to the online portal zdopravy.cz, the Polish state-owned airline LOT also showed interest in Smartwings. LOT was eliminated from the race shortly before the contract was finalised, after Pegasus allegedly offered the owners of Smartwings €40 million – roughly €10 million more than LOT.
Smartwings, formerly known as Travel Service, has been operating for 28 years and, with 49 aircraft, is the largest Czech airline within the Smartwings Group. The company operates scheduled flights to around 80 destinations, as well as charter and private flights.
Pegasus Airlines, based in Istanbul, was founded in 1990 and currently operates 124 aircraft. This year, the airline ordered 100 Boeing 737 MAX 10s with options for a further 100 aircraft, as well as 36 Airbus A321neos. Its route network covers 155 destinations in 54 countries, including 38 domestic destinations in Turkey and 117 international routes to Europe, the Middle East, North Africa, and Asia. Both airlines – Pegasus and Smartwings – are members of the International Air Transport Association (IATA).
