Celebi Shares Plunge 10% In Istanbul After India Revokes Security Clearance Over National Security Concerns

“… the security clearance in r/o Celebi Airport Services India Pvt Ltd is hereby revoked with immediate effect in the interest of national security,” the BCAS stated in its official order

In compliance with the BCAS directive, Delhi International Airport Limited has officially terminated its partnership with Celebi entities

Source : PTI

Shares of Turkey-based ground handling firm Celebi Hava Servisi A.S. fell sharply on Friday, plunging 10 per cent to 2,002 lira in Istanbul, following the Indian government’s revocation of security clearance for its Indian subsidiary, Celebi Airport Services India Pvt Ltd. 

The stock has now declined nearly 30 per cent over the past four sessions amid mounting scrutiny and calls for action against the company, according to a Moneycontrol report.

The Bureau of Civil Aviation Security (BCAS) announced the revocation of Celebi’s security clearance with immediate effect, citing “national security” concerns. The clearance, initially granted in November 2022 under the ‘Ground Handling Agency’ category, was withdrawn amid heightened diplomatic tensions between India and Turkey. The move follows Turkey’s vocal support for Pakistan and its condemnation of India’s recent counter-terrorism operations in Pakistan-occupied Kashmir (PoK), including the strikes carried out under ‘Operation Sindoor’. Pakistan also reportedly deployed Turkish drones during its military confrontations with India.

“… the security clearance in r/o Celebi Airport Services India Pvt Ltd is hereby revoked with immediate effect in the interest of national security,” the BCAS stated in its official order.

Responding to the revocation, Celebi Aviation India strongly denied allegations regarding its ownership and political affiliations. “We are not a Turkish organisation by any standard and adhere fully to globally accepted practices of corporate governance, transparency, and neutrality, with no political affiliations or links to any foreign government or individuals,” the company said in a statement. 

Despite its Turkey-based roots, Celebi emphasised its long-standing presence in India, where it has been operating for over 15 years, providing ground handling and cargo services at nine airports, including Delhi, Mumbai, Chennai, Hyderabad, and Bangalore.

Delhi International Airport Limited Terminated The Partnership

In compliance with the BCAS directive, Delhi International Airport Limited (DIAL) has officially terminated its partnership with Celebi entities involved in ground handling and cargo operations at Indira Gandhi International Airport (IGIA). DIAL stated it is now coordinating with existing service providers, AISATS and Brid Group, to ensure uninterrupted operations and safeguard employee interests.

India’s Minister of State for Civil Aviation, Murlidhar Mohol, commented on the matter via X (formerly Twitter), saying, “Recognising the seriousness of the issue and the call to protect national interests, we have taken cognizance of these requests and Ministry of Civil Aviation has revoked security clearance of the said company.” He also noted that requests for a ban on Celebi Airport Services had been received from across the country, though no specific details were disclosed.

The revocation also follows unverified claims circulating online alleging that Sumeyye Erdogan Bayraktar, daughter of Turkish President Recep Tayyip Erdogan, holds a stake in Çelebi Aviation Holding—a claim the company has publicly and unequivocally denied.