Pegasus closes deal for Czech Airlines and Smartwings

Pegasus Airlines has completed its purchase of Czech Airlines and its low-cost unit Smartwings, ten months after the Turkish carrier emerged as a bidder. Both Czech airlines will keep flying under their own brands.

According to the carrier, they operate more than 175 aircraft between them and hold orders for another 140. Pegasus chief executive Guliz Ozturk said the combination would let the group grow further and give passengers more choice than any of the airlines could offer alone. Smartwings co-founder Jiri Simane called Pegasus the right partner to support future growth.

Czech competition regulators approved the deal with conditions earlier this month. Among the commitments Pegasus offered was transferring a number of summer slots on the Prague-Antalya route to another airline.

Israir Group, an Israeli leisure operator, had previously negotiated over a possible purchase of Smartwings.