Turkish low-cost giant Pegasus Airlines announced on 8 December that it has signed a binding agreement to acquire Prague-based Smartwings Group—including the flag carrier Czech Airlines (ČSA)—for an estimated €154 million. The transaction, subject to regulatory approvals, would give Pegasus control over a fleet of 45 Boeing 737s and ČSA’s prized landing slots at Václav Havel Airport.
For corporate travel programmes the takeover could reshape Central-European flight networks. Pegasus plans to integrate Smartwings’ short-haul schedule with its Istanbul hub, adding same-day connections to the Gulf and South-East Asia that currently require overnight layovers. Conversely, some low-yield seasonal routes popular with Czech holidaymakers may be cut.
![Pegasus Airlines Agrees to Buy Czech Carrier Smartwings for €154 Million]()
Analysts say the deal reflects post-pandemic consolidation pressures: Smartwings has struggled with high fuel costs and MAX grounding compensation delays, while Pegasus seeks EU-based Air Operator’s Certificates to sidestep bilateral constraints. The Czech Civil Aviation Authority must still examine ownership-and-control criteria and competition impacts at Prague and Brno airports.
Employee unions have demanded assurances that the carrier’s 2,500 Czech-based staff will retain local contracts. Pegasus CEO Güliz Öztürk signalled that maintenance and training centres would stay in the country, but did not rule out a review of crew bases.
If approvals proceed smoothly, closing is expected within 12 months. Travel managers should monitor fare-class mapping and alliance participation—Smartwings currently interlines with Qatar Airways and Korean Air, relationships that may evolve under new ownership.
For corporate travel programmes the takeover could reshape Central-European flight networks. Pegasus plans to integrate Smartwings’ short-haul schedule with its Istanbul hub, adding same-day connections to the Gulf and South-East Asia that currently require overnight layovers. Conversely, some low-yield seasonal routes popular with Czech holidaymakers may be cut.
Analysts say the deal reflects post-pandemic consolidation pressures: Smartwings has struggled with high fuel costs and MAX grounding compensation delays, while Pegasus seeks EU-based Air Operator’s Certificates to sidestep bilateral constraints. The Czech Civil Aviation Authority must still examine ownership-and-control criteria and competition impacts at Prague and Brno airports.
Employee unions have demanded assurances that the carrier’s 2,500 Czech-based staff will retain local contracts. Pegasus CEO Güliz Öztürk signalled that maintenance and training centres would stay in the country, but did not rule out a review of crew bases.
If approvals proceed smoothly, closing is expected within 12 months. Travel managers should monitor fare-class mapping and alliance participation—Smartwings currently interlines with Qatar Airways and Korean Air, relationships that may evolve under new ownership.
