Pegasus completes Smartwings deal: what it means for Pegasus stock

Published on 10/14/2026 at 06:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

For Pegasus stock, the deal adds more than 175 aircraft and 140 firm orders. Second-quarter revenue rose 19.00 percent to TRY 45.71 billion year over year.

European expansion gains scale

On October 1, 2026, Pegasus completed the Smartwings acquisition for EUR 142.30 million.
Second-quarter revenue reached TRY 45.71 billion, up 19.00 percent year over year.
The combined fleet includes more than 175 aircraft and 140 firm orders.
The next expected earnings release is November 5, 2026.

Pegasus, TREPEGS00016, Illustration mit AI erstellt.

Pegasus (TREPEGS00016) completed its acquisition of Smartwings Group and Czech Airlines on October 1, 2026, giving the Turkish carrier a larger European platform. The EUR 142.30 million transaction covered 100 percent of Czech Airlines through Pegasus Europe B.V., as ch-aviation reported from the October 1 stock exchange filing.

What does the deal change?

The acquisition adds scale rather than an entirely new operating model. The Pegasus Airlines release dated October 1, 2026, said the combined fleet includes more than 175 aircraft and that existing firm orders cover 140 aircraft.

Smartwings and Czech Airlines will retain their brands and day-to-day operations, while Pegasus gains control of the enlarged group. The final consideration was below the EUR 154.00 million value announced when the agreement was signed in December 2025, a EUR 11.70 million reduction that reflects the closing adjustment described by ch-aviation.

Revenue grew before the closing

Pegasus reported TRY 45.71 billion of revenue in the second quarter of 2026, up 19.00 percent from TRY 38.43 billion in the same quarter of 2025. Net income was a TRY 4.79 billion loss, compared with net income of TRY 5.13 billion a year earlier, according to FKRadar.

The combination of revenue growth and a quarterly loss leaves the integration case dependent on execution. Pegasus has stated that the transaction should support operational growth, but the second-quarter figures show that higher sales alone did not produce positive net income.

What comes next for reporting?

The next expected earnings release is November 5, 2026, according to FKRadar. That update should provide the first scheduled checkpoint for the enlarged group after the October closing.

PGSUS remains near its yearly low

On Borsa Istanbul, PGSUS was last at TRY 132.60 on October 13, 2026 at 6:09 p.m. TRT. The same dated market snapshot put the 52-week range at TRY 132.20 to TRY 226.10 and market capitalization at TRY 66.3 billion, leaving the quote TRY 93.50 below the yearly high.