Addleshaw Goddard and Kinstellar have advised Pegasus Airlines on its acquisition of Czech Airlines and its subsidiary Smartwings in a transaction valued at EUR 154 million, including related receivables. Dentons reportedly advised the sellers.
The transaction remains subject to regulatory approval.
According to Addleshaw Goddard, Pegasus Airlines, Turkiye’s leading low-cost carrier, will significantly expand its European footprint through the acquisition, which adds Smartwings’ 47-aircraft fleet to its existing 127 aircraft. Czech Airlines, one of the world’s oldest airline brands, together with Smartwings, represents a strategic platform for Pegasus Airlines’ continued international growth.
The Addleshaw Goddard team included Partners Daniel Cousens and Malgorzata Szwaj, Counsel Christopher Quinn, Managing Associates Michal Szperzynski, Zuzanna Oldfield, Klaudia Sliwka, Wojciech Podlasin, Barbara Wanat, and Filip Stawicki, Associate Wiktoria Burdzy, Justyna Tuleja, and Yuliia Stepanyk, and Junior Associate Aleksandra Kasprzak.
The Kinstellar team included Partner Jaan Juroska, Managing Associates Michal Kniz and Iva Bilinska, Associates Zuzana Konecna, Artom Gnedin, and Pavel Hrdy, and Junior Associates Antonin Seidel and Michal Jandus.
