Smartwings lands in Turkish hands

ČSA, which owns Smartwings, announced the start of the sale process. The original interested party was Polish carrier LOT Polish Airlines, which was looking for ways to expand its base outside the Polish market. However, its offer was ultimately outbid by Turkish Pegasus Airlines, which will pay 154 million euros for the company and its receivables. The transaction is subject to approval by regulatory authorities in the Czech Republic and other countries where Smartwings operates. It is expected to be completed in 2026.

Last year, ČSA came under the full control of Prague City Air, which bought a 50% stake from the Chinese company CITIC. In addition to the Czech Republic, it has subsidiaries in Poland, Hungary, and Slovakia. It operates two regular direct connections to Turkey, to Antalya since 2011 and to Izmir since the summer of 2024. It owns a total of 49 aircraft and employs over 600 pilots. In 2024, the company operated 53,000 flights and carried 8.2 million passengers, 4.3 million of whom flew from six Czech airports. Across all metrics, it recorded strong double-digit growth in comparison to the previous year.

Low-cost Pegasus Airlines belongs to the ESAS holding company, owned by one of Turkey's wealthiest families, the Sabaci family. Last year, it handled 37 million passengers with its fleet of 129 aircraft. Pegasus continues its strong expansion through acquisitions. This year, it has already ordered 36 Airbus A321neo aircrafts and 100 Boeing 737 MAX-10 aircrafts, with an option for another 100 machines.