$500 million in value wiped out in a day: Turkey's Celebi on India ouster amid Op Sindoor

$500 million in value wiped out in a day: Turkey's Celebi on India ouster amid Op Sindoor

More than a year after being forced out of Indian airports in the wake of Turkey's support to Pakistan during Operation Sindoor, Turkish aviation services firm Celebi Aviation says India's revocation of the security clearance granted to its Indian arm wiped out up to $500 million in value overnight.

Lost $500 Mn In Business Value Overnight; How India Bled Turkish Firm Celebi After Operation Sindoor

New Delhi: For the first time since India revoked the company’s security clearance in May 2025, Turkey’s Celebi Aviation has opened up on how it lost nearly $500 million in business value overnight, calling it as one of the most damaging setbacks in its history. India’s decision abruptly ended nearly two decades of business operations that the company had painstakingly built in the country, Celebi chairperson Canan Celebioglu told Bloomberg. The…

Çelebi Loses $500 Mn After India Revokes Security Clearance

In a recent interview, Canan Çelebioğlu, chairwoman of the Turkish airport ground-handling giant Çelebi Holding, stated that the company's worth was immediately cut in half due to the sudden cancellation of its security clearance systems in India. India's Bureau of Civil Aviation Security (BCAS) revoked the security certification of the Turkish ground-handling company on May 15, 2017. This decision comes after the short but intense armed confron…