Pegasus Airlines, a low-cost airline, has officially announced an agreement to acquire Czech Airlines (CSA) and the airline of the Smartwings group for 154 million euros. The deal, which is subject to regulatory approval, is expected to be finalized within 12 months.
According to media reports, Pegasus has already made a further advance payment to Polish airline LOT shortly before the planned signing of the agreement.
The typical carrier offered the owners of Smartwings 10 million euros more than the Eastern European competitor. LOT management was already in Prague, ready to finalize the acquisition, when the owners accepted the competitive offer.
“We started Pegasus Airlines in 2005 with a bold ambition – to make air travel accessible to all. Now, by joining forces with CSA and Smartwings, we are opening a new chapter in our development,” said Regasus CEO Guliz Ozturk.
Pegasus, which currently operates 127 aircraft and flies to 158 destinations in 55 countries, will acquire the largest Czech airline with a fleet of 47 aircraft and 80 destinations in 20 countries. The combined company plans to retain both brands – Smartwings and Pegasus Airlines, and to focus on expanding their combined presence in Europe.
Illustrative Photo by Necati Ömer Karpuzoğlu: https://www.pexels.com/photo/airbus-a320-pegasus-airlines-in-flight-32661202/
