Turkish Carrier Pegasus Acquires Smartwings Group in 154 Million Euro Deal
Turkish carrier Pegasus is acquiring Czech Airlines and controlling stakes in Smartwings in a 154 million euro deal approved conditionally by Czech regulators.
A familiar airline for Israeli travelers is undergoing a major ownership transition after the Czech Competition Office conditionally approved an acquisition by Turkish carrier Pegasus, which is set to buy Czech Airlines and take control of the Smartwings group.
According to the agreement signed in December 2025, the deal is valued at approximately 154 million euros and encompasses the full shares of Czech Airlines alongside controlling stakes in Smartwings and its subsidiaries. The approval is not unconditional, featuring specific stipulations designed to preserve competition on overlapping routes operated by both carriers.
Impact on Israeli Travelers and Routes
At this stage, no immediate operational changes have been announced regarding Smartwings flights to Israel. The acquisition does not mean that flights will be instantly rebranded as Pegasus, that aircraft will be immediately swapped, or that routes from Israel will be canceled. Plans indicate that both brands will continue operating independently in the initial phase following the completion of the transaction.
"Smartwings is not expected to disappear immediately following the acquisition, and there is no announcement of immediate changes to the company's flights from Israel."
Smartwings operates regular and charter flights from several Central European countries and is well-known among Israeli passengers for its consistent presence on routes connecting Israel with Europe. While the ownership shift could eventually influence how the group manages its fleet and network across different markets, no concrete alterations to its Israeli operations have been published yet.
Strategic Expansion for Pegasus
For Pegasus, the acquisition provides a significant foothold in Central Europe, including an established base in Prague and Smartwings' extensive operational network. The Turkish carrier operates dozens of routes across Europe through both scheduled and charter services, marking a major expansion far beyond its traditional domestic market.
Meanwhile, Czech Airlines has not functioned as a standalone airline for some time. Since October 2024, Smartwings has served as the primary operator, while Czech Airlines remained primarily as a brand within the group. Under the finalized agreement, this structure will now transition entirely under the control of Pegasus, leaving industry watchers to monitor how the combined network evolves.
