The stock of Turkish ground-handling firm Celebi Airport Services tanked 10 per cent on Friday after India revoked the security clearance of the company amid calls to ban Turkish businesses, in the wake of their country supporting Pakistan which harbours terrorism.
The stock fell 222 points, or 10 per cent, to trade at 2,002 in Istanbul on Friday, extending its losses to nearly 30 per cent in four sessions. The stock was under pressure in the past few days amid clamour for action against the Turkish firm.
In a notification, the Ministry of Civil Aviation said on Thursday that “in the exercise of power conferred upon DG, BCAS, the security clearance in Celebi Airport Services India Pvt Ltd is hereby revoked with immediate effect in the interest of National Security.”
“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. Ensuring the safety and interests of the nation remains our top priority,” said Minister of State for Civil Aviation and Cooperation, Murlidhar Mohol.
In compliance with the Bureau of Civil Aviation Security (BCAS) directive, Delhi International Airport Limited (DIAL) has formally ended its association with Celebi entities responsible for ground handling and cargo operations at the Indira Gandhi International Airport (IGIA).
Adani Airport Holdings has terminated the ground handling concession agreement with Turkish firm Celebi at Mumbai and Ahmedabad airports with immediate effect.
The ground handling operations of Celebi Aviation have been suspended at Kempegowda International Airport in Bengaluru, as per the directive of the central government.
Since its entry in 2008, Celebi has expanded its presence in India’s aviation sector. As per reports, the firm is partly owned by Sumeyye Erdogan, daughter of Tayyip Erdogan. Sumeyye Erdogan is married to Selcuk Bayraktar, the man who produces Bayraktar military drones which Pakistan used against India.
