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.[13]
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.[14] In 2018, it was announced that the Travel Service livery would be replaced by the Smartwings livery.[15] 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 December 10, 2018.[16]
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.[17] However, these plans have not materialized, and Czech Airlines maintains its Airbus fleet.[18] 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.[19]
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.[20] 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.[21]
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).[22][23]