Pegasus Airlines (PC, Istanbul Sabiha Gökcen) has completed its acquisition of Smartwings Group for EUR142.3 million euros (USD160.5 million), according to an October 1, 2026, stock exchange filing.

The final consideration, which includes receivables assigned from the group's previous shareholders, is below the EUR154 million (USD173.5 million) announced when the transaction was signed in December 2025. The original agreement explicitly provided for a closing adjustment.

Pegasus completed the acquisition through its wholly owned Dutch subsidiary Pegasus Europe B.V., following regulatory approvals in Türkiye, the Czech Republic, and other countries where Smartwings Group operates. Pegasus now controls 100% of České aerolinie a.s., holding 70% directly and the remaining 30% indirectly through Smartwings.

As previously reported by ch-aviation, the Czech competition regulator approved the transaction subject to Pegasus transferring some summer slots on the Prague Václav Havel-Antalya route to another airline due to competition concerns.

Smartwings said following the closing that it would continue its day-to-day operations under the Smartwings and CSA Czech Airlines brands. Czech Airlines is no longer a certificated carrier and continues as a brand within Smartwings Group.

According to ch-aviation fleets data, Smartwings Group operates 45 in-house aircraft across four AOCs: Smartwings (Czechia) operates four A220-300s, two A320-200s, fourteen B737-8s, nineteen B737-800s, and two B737-900ERs; Smartwings (Poland) operates one B737-800; Smartwings (Slovakia) has one B737-800; and Smartwings (Hungary) operates two B737-800s.

Meanwhile, Pegasus operates an in-house fleet of six A320-200s, forty-six A320-200Ns, seventy-two A321-200NX, and nine B737-800s, overall totalling 133 aircraft.