Brief by Shorts91 NewsDesk / 12:41pm on 16 May 2025,Friday Business
Turkey-based Çelebi Aviation Holding's shares plummeted nearly 20% over two days after India revoked security clearance for its Indian subsidiaries, citing national security concerns. The Bureau of Civil Aviation Security's decision halts Çelebi's operations in India, which contributed a third of its 2024 revenue. The move follows India's backlash against Turkey's support for Pakistan in a recent conflict. Çelebi's Indian arm asserts it's an Indian enterprise led by local professionals. The company plans to pursue all administrative and legal remedies to reverse the decision. Airports and airlines previously partnered with Çelebi are now turning to other major ground handling players in India's aviation sector. (PC: Facebook & The Indian Express)
