Sana'a: Turkish carrier Pegasus Airlines has signed an agreement to acquire Czech Airlines and its subsidiary Smartwings. The company said in a statement on Monday, reported by Anadolu Agency, that this deal marks an important step toward achieving its international expansion goals.
According to Yemen News Agency, the total value of the acquisition reached £154 million, including the debts of both companies. The completion of the acquisition is expected after obtaining all required legal approvals and fulfilling the remaining conditions for transferring ownership.
Pegasus stated that the aim of the acquisition is to expand its global operations, and that by combining the experience and capabilities of the two airlines, it seeks to build a stronger structure that offers travelers a wider route network and more affordable prices. The statement quoted Pegasus CEO Gliz -ztrk as saying that the company was launched in 2005 with the goal of 'making air travel accessible to everyone.'
-ztrk explained that the airline expanded its fleet from 14 aircraft to 127, becoming one of the world's most efficient and profitable carriers. She added: 'Today, by joining forces with the 47-aircraft fleet of Czech Airlines and Smartwings, we are opening a new chapter in our growth journey.'