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Turkish Airline Pegasus Set to Acquire Ownership of Czech Airlines
(MENAFN) Turkish airline Pegasus has finalized agreements to acquire full ownership of Czech Airlines, Smartwings, and their subsidiaries, the carrier announced on Monday.
The deal was struck with Prague City Air s.r.o., alongside a Receivables Assignment Agreement with Unimex Group, according to Pegasus.
"The total consideration to be paid as part of the said agreements, including the receivables subject to assignment, is determined as EUR 154 million; which may be subject to closing adjustment as per the terms of the Share Purchase Agreement," the airline said.
Pegasus emphasized that the transaction’s completion depends on securing regulatory approvals in the Czech Republic and other nations where the Smartwings Group operates, as well as fulfilling standard share transfer conditions.
"We expect completion to take place in 2026 following the receipt of the necessary approvals," it added.
In a post on US social media platform X, Pegasus outlined the strategic vision behind the acquisition: "Together, we will offer our guests access to more destinations with affordable fares while delivering a seamless, technology-driven and more personalised travel experience.
"By joining forces, we will create more choice and open new horizons to the joy of travel."
The deal was struck with Prague City Air s.r.o., alongside a Receivables Assignment Agreement with Unimex Group, according to Pegasus.
"The total consideration to be paid as part of the said agreements, including the receivables subject to assignment, is determined as EUR 154 million; which may be subject to closing adjustment as per the terms of the Share Purchase Agreement," the airline said.
Pegasus emphasized that the transaction’s completion depends on securing regulatory approvals in the Czech Republic and other nations where the Smartwings Group operates, as well as fulfilling standard share transfer conditions.
"We expect completion to take place in 2026 following the receipt of the necessary approvals," it added.
In a post on US social media platform X, Pegasus outlined the strategic vision behind the acquisition: "Together, we will offer our guests access to more destinations with affordable fares while delivering a seamless, technology-driven and more personalised travel experience.
"By joining forces, we will create more choice and open new horizons to the joy of travel."
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