The airlines operate 175 aircraft combined and will maintain separate brands.
Turkish carrier Pegasus Airlines has completed its acquisition of Czech Airlines and its low-cost unit Smartwings, 10 months after emerging as a bidder.
The airlines operate a combined fleet of more than 175 aircraft and hold orders for 140 more. Smartwings and Czech Airlines will continue to operate under their own brands.
“Together we can grow further and offer our guests more choice than any of us could alone,” says Pegasus chief executive Guliz Ozturk.
Smartwings co-founder Jiri Simane adds that Pegasus is “the right partner” to “support future growth”.
Czech competition regulators had conditionally approved the acquisition earlier this month, following commitments put forward by the Turkish carrier to transfer a number of summer slots on the Prague-Antalya route to another airline.
Israeli leisure operator Israir Group had previously been negotiating for a potential acquisition of Smartwings.
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