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The story
Foundation and early years
Smartwings was founded in September 1997 under the name Travel Service Airlines a.s. and focused on charter flights mainly for Czech tour operators. The first airliner was a Tupolev Tu-154M but in 2000, the air carrier received its first Boeing 737-400 with which own operations were started.
In 2004, Travel Service launched the brand Smart Wings for low-cost flights. Travel Service leased two Boeing 737-500s from Lufthansa which were primary intended for Smartwings flights. Both aircraft were painted in the new Smartwings livery. Former Czech president Václav Klaus attended the opening ceremony, which was held on 1 May 2004. In 2007, the company carried 2.2 million passengers, and a year later about 2.3 million passengers. In 2014, it carried 4.3 million passengers, about 1.2 of them on regular flights under the brand name Smartwings.
On 18 September 2007, the Icelandair Group acquired 50% stake in the carrier, and purchased further shares to bring its holding up to 80% by April 2008. In December 2008, it reduced its holding to 66% by selling shares to the other shareholders, Unimex. In 2009, their stake was further diluted to 50.1% through a new share issue; they also sold a portion of their stake to fellow owners, reducing their holding to 30%. In 2009, Icelandair spun its 30% stake in Travel Service into a new company, which was taken over by Icelandair's creditors. Chinese investment group CEFC China Energy then held a 49.9% stake in Travel Service.
In 2013, Travel Service cancelled its order for a Boeing 787 Dreamliner and purchased a Boeing 737 MAX 8 instead.
Development since 2017
Travel Service owned 98 percent of Czech Airlines; it bought 64% from Prisko and Korean Air in 2017. Before, it owned 34%, bought in 2014. After Czech Airlines went through business restructuring, Smartwings retained 30% of the company.
In October 2017, it was announced that Travel Service planned to transfer its branding from an airline to a holding company, and would move all of its operations under the Smartwings brand. In 2018, it was announced that the Travel Service livery would be replaced by the Smartwings livery. Also in that year, deliveries of the new Boeing 737 MAX began.
Travel Service was renamed Smartwings, the name of its former low-cost subsidiary, on 10 December 2018.
In March 2019, Smartwings announced plans to create a German subsidiary by late 2019, and to transition its Czech Airlines subsidiary to an all-Boeing 737 fleet. However, these plans have not materialized, and Czech Airlines maintains its Airbus fleet. In February 2021, Smartwings announced the return of their stored Boeing 737 MAX to service by the end of the month, the first European airline to resume operations following the flying ban lasting over 20 months due to the COVID-19 pandemic.
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In February 2024, then owner CITIC – which bought its shares from CEFC – sold all of its shares in Smartwings to Czech-owned Prague City Air, which also owns the majority in Czech Airlines. In October 2024, Smartwings took over all flight operations of Czech Airlines, continuing to operate them under the Czech Airlines brand, while Czech Airlines was restructured as a holding company.
In December 2025, it was announced the Turkish low-cost airline, Pegasus Airlines has signed an agreement to acquire both Czech Airlines and Smartwings in a deal worth €154 million (3,8 billion CZK).
Pegasus Airlines completed the acquisition of Czech Airlines (ČSA) and the Smartwings Group on 1 October 2026.
From Wikipedia’s article on Smartwings, shared under CC BY-SA 4.0.5