Celebi, a Turkish aviation company operating at nine major Indian airports—Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Kochi, Ahmedabad, Kannur, and Goa—for the past 15 years, has had its Indian operations terminated.
A decisive move by the Modi government has dealt a significant blow to Celebi Airport Services India. The government revoked the company's security clearance, citing national security concerns, effectively ending its ground handling services in India. This decision caused a 10% drop in the company's shares on the Istanbul Stock Exchange.
Modi Government Takes Strong Action Against Turkish Company
The Modi government revoked the security clearance of Celebi Airport Services India, a Turkish aviation company, citing national security concerns. The Bureau of Civil Aviation Security (BCAS) had granted the clearance in November 2022, which has now been withdrawn. Consequently, the company's services have been terminated at nine major airports across the country, including Delhi Airport.
Reasons Behind the Action
This b action comes at a time when Turkey issued statements supporting Pakistan and criticized India's Operation Sindhur in PoK. Furthermore, the use of Turkish drones amidst India-Pakistan military tensions raised concerns for the Indian government. Calls for b action against Celebi intensified across the country, leading the government to prioritize national security and take this step.
A 15-Year Relationship Ends
Celebi had provided ground handling and cargo services at major airports like Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Kochi, Ahmedabad, Kannur, and Goa for the past 15 years. However, its journey in India has now concluded.
Delhi Airport Terminates Ties
Following the BCAS order, Delhi International Airport Limited (DIAL) also terminated all business relationships with Celebi. These services have been transferred to companies like AISATS and Bird Group to ensure continued passenger convenience.
Sharp Decline in Stock Market
India's action had a visible impact on the Turkish stock market. Shares of Celebi Hava Servisi AS fell by 10% on May 16, reaching 2002 points. Over four trading sessions, the shares have declined by approximately 30%. The company's stock, which once reached 3285, has now fallen to a low of 1660.
Company's Clarification and Controversy
Celebi India issued a statement saying, "We are not affiliated with the Turkish government and are a professional, transparent, and neutral company." However, reports claimed that Sümeyye Erdoğan Bayraktar, daughter of Turkish President Erdoğan, is a shareholder in the company, a claim the company has denied.
Government's Clear Message: National Interest Supreme
Minister of State Murlidhar Mohol stated on social media, "There were demands for action against the company from various parts of the country. We revoked its security clearance, prioritizing national security." This entire matter demonstrates India's clear policy—any company can operate in India only if it respects India's sovereignty and security.
