Which Turkish airline is buying Czech Airlines?

Pegasus Airlines, a Turkish low-cost carrier, is acquiring Czech Airlines and its owner, Smartwings.

What is the value of the Pegasus Airlines deal for Smartwings?

The acquisition agreement for Smartwings and Czech Airlines is valued at 154 million euros.

When will Pegasus Airlines complete the acquisition of Czech Airlines?

The ownership transfer of Czech Airlines is expected to be completed within approximately 12 months.

Home / Business and Economy / Pegasus Acquires Czech Airlines, Smartwings

Pegasus Acquires Czech Airlines, Smartwings

8 Dec

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Summary

Pegasus Airlines to acquire Czech Airlines and Smartwings.
The acquisition deal is valued at 154 million euros.
Ownership transfer is expected to conclude within 12 months.

Pegasus Acquires Czech Airlines, Smartwings

Pegasus Airlines has announced a major acquisition, agreeing to buy both Smartwings and Czech Airlines from Prague City Air. This deal, valued at 154 million euros, represents a significant move for the Turkish low-cost carrier as it continues its international growth strategy. The acquisition is expected to finalize within the next 12 months.

Smartwings, which operates a diverse range of flights to approximately 80 destinations with a fleet of nearly 50 aircraft, was previously in takeover negotiations with LOT Polish Airlines. However, those discussions reportedly ended after Pegasus presented a competing bid.

Pegasus Airlines, established in 1990, currently serves 153 destinations across 54 countries. This strategic acquisition of Czech Airlines and Smartwings is poised to strengthen its market position and expand its operational reach within Europe.

This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.