Addleshaw Goddard advises Pegasus Airlines on the completion of its acquisition of Czech Airlines and Smartwings Group
Addleshaw Goddard (AG) has advised Pegasus Airlines on the successful completion of its acquisition of Czech Airlines and Smartwings Group, following receipt of all required regulatory approvals and fulfilment of customary closing conditions.
This transaction further demonstrates the strength and reach of Addleshaw Goddard’s Warsaw-based Turkish and CEE practice and our commitment to supporting clients’ strategic ambitions across these dynamic markets.
Pegasus Airlines is a leading low-cost carrier based in Türkiye, operating flights to 161 destinations across 57 countries.
Smartwings Group is a leading leisure carrier and, together with the Czech Airlines brand, forms one of the longest-standing airline groups in Central and Eastern Europe, with a network of 80 destinations across 20 countries.
The transaction marks an important milestone in Pegasus Airlines’ international expansion and the future growth of Czech Airlines and Smartwings Group. It brings together two established aviation businesses with complementary strengths and a shared ambition for long-term growth. The combined fleet comprises more than 175 aircraft, with significant additional growth potential supported by firm orders for 140 aircraft already secured by the two airlines.
Addleshaw Goddard led the transaction, with Kinstellar providing local law advice.
The AG team was led by Daniel Cousens (partner) and Michał Szperzyński (counsel) from our Warsaw-based Turkish and CEE team. They were supported by Christopher Quinn (counsel), Klaudia Śliwka (managing associate), Justyna Tuleja (associate), Zuzanna Oldfield (associate) and Wiktoria Burdzy (associate) from the Warsaw corporate practice.
The transaction also involved significant merger control, FDI, FSR and other regulatory work. Wojciech Podlasin (counsel) and Mateusz Skóra (associate) from our Warsaw competition practice played a key role in obtaining the required approvals, working with Barbara Wanat (managing associate), Filip Stawicki (managing associate) and Yuliia Stepanyk (associate). The regulatory workstream was supervised by Małgorzata Szwaj (partner).
