Smartwings was founded in 1997 originally under the name Travel Service and focused on operating charter flights mainly for Czech tour operators. Its first airplane was a Tupolev Tu-154M. In 2000, Travel Service received its first Boeing 737-400. Since then the airline has been operating a mainly Boeing fleet.[citation needed]
In 2004, Travel Service launched its low-cost brand Smartwings. 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 May 1, 2004.[6] 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.[7] 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.[8][9] 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%.[10][11] 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.[12]
In 2013, Travel Service cancelled its order for a Boeing 787 Dreamliner and purchased a Boeing 737 MAX 8 instead.[citation needed]
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 to Smartwings, the name of its former low-cost subsidiary, in December 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, as of 2022 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, operating under the Czech Airlines brand, while Czech Airlines was restructured as a holding company.[21]
Business figures
Selected financial results of Smartwings, a.s.[22]
Million CZK
2012
2013
2014
2015
2016
2017
2018
Operating revenues
15,010
13,992
15,558
16,902
29,864
Operating profit
86
149
274
488
71
223
303
Net profit after tax
47
158
60
192
193
(500)
81
Assets
1,998
2,798
2,993
3,728
4,458
4,342
5,964
Equity
575
735
777
982
1,981
1,443
1,552
Liabilities
593
1,315
1,320
1,470
2,384
2,771
4,174
Destinations
Smartwings serve over 40 destinations in 15 countries from their hub at Václav Havel Airport Prague. Additionally, some flights are operated from Brno and Ostrava airports. The airline primarily focuses on leisure destinations across Europe, North Africa, and the Middle East.[23][24]
Smartwings also operates business jets that are available for private air charter.[36] As of January 2017 the business jet fleet consists of the following aircraft:
On 22 August 2019, a Smartwings Boeing 737-800 (Registration: OK-TVO) operated flight QS-1125 from Samos, Greece to Prague, Czech Republic with 170 passengers on board. The aircraft was flying at 36,000 feet (10,973 m) over the Aegean Sea about 100 nautical miles (120 mi; 190 km) northeast of Athens, Greece when it had an engine failure. The crew drifted the aircraft down to 24,000 feet (7,315 m) without informing ATC of the emergency, only informing them of a "technical malfunction". Instead of landing at the nearest suitable airport, as per engine failure procedure, the flight crew carried on to Prague at that level for a landing without further incident about 2 hours and 20 minutes later. The Czech Civil Aviation Authority (CAA) confirmed that an investigation had been launched into the incident: "we have decided to launch an investigation as the procedure followed doesn't seem standard."[38][39] Following the incident, Prague police launched an investigation into the flight on suspicion of endangering the public due to negligence, and a Smartwings internal investigation demoted the captain from his post as head of flight operations.[40] In July 2020, the CAA released the final report by the Air Accidents Investigation Institute (AAII), which blamed the incident on the captain failing to follow mandatory procedures, including landing at the nearest possible diversion airport after an engine failure.[40][41] As of July 2020, the captain who piloted the plane during the incident continues to pilot Smartwings flights.[42]
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