Turkish low-cost giant to take over Czechia's largest airline group

The future of Czechia’s largest airline group, Smartwings, which includes the national carrier Czech Airlines (ČSA), is set to be decided by Turkish low-cost carrier Pegasus Airlines, according to media reports.

Pegasus Airlines has officially agreed to buy the entire Smartwings Group, including ČSA. The Turkish carrier confirmed the purchase in a public document filed on Monday, just as the group’s owner, Prague City Air, formally launched the sale.

Smartwings spokeswoman Vladimíra Dufková confirmed the initiation of this process to Czech media. The deal will see both the historic Czech Airlines brand and the Smartwings leisure carrier change hands entirely.

“Prague City Air announces that it has agreed with Pegasus Airlines to commence a sales process...to be completed by the transfer of ČSA shares after obtaining the necessary approvals from regulators and other third parties,” Dufková said in a press statement.

The final transfer of ownership is expected to take time, possibly until 2026, as it requires clearance from regulatory bodies in the Czech Republic and other countries.

The acquisition concludes a turbulent period for the Smartwings Group, which recently navigated significant financial challenges and shifts in ownership, including a brief return to full Czech control last year.

The sale was a competitive one; media reports indicated that Polish airline LOT had also shown interest.

Industry analysts and the airline’s management agree that Smartwings is a highly important asset in Central Europe's travel market. This sale to a major foreign carrier is expected to reshape the group’s strategy, influencing how Prague remains connected to key international destinations and how the airlines compete against rivals like Ryanair and Wizz Air.

Smartwings, established in 1997, is the parent company of Smartwings Poland, Smartwings Slovakia, and Smartwings Hungary.

As the largest carrier in Czechia, it offers scheduled, charter, and private flight services, operating a fleet of 42 aircraft and flying to 40 international destinations from its hubs.