Nearly a year after India revoked the security clearance of Turkish airport services firm Celebi Aviation in the aftermath of Operation Sindoor, the company said the move erased almost $500 million in business value overnight, describing it as one of the most damaging setbacks in its history.
Speaking to Bloomberg, Chairperson Canan Celebioglu said India’s decision abruptly ended nearly two decades of business operations that the company had painstakingly built in the country.
‘Our entire business value went to zero overnight’
Reacting publicly for the first time since the fallout, Celebioglu said the company lost access to all of its Indian operations immediately after authorities withdrew security clearances in May 2025 amid diplomatic tensions between New Delhi and Ankara following Operation Sindoor.
According to Bloomberg, she said, “All our equipment, everything we had, was seized and they removed us from there. They transferred our 10,000 employees to another company in a single day.”
She added that the financial blow was massive and immediate.
“They brought the value we had created, perhaps $400 million or $500 million, down to zero in a single day,” she was quoted as saying.
India revoked security clearance after tensions with Turkey
India’s Bureau of Civil Aviation Security (BCAS) revoked the security clearances of Celebi’s Indian subsidiaries on May 15, 2025, shortly after India and Pakistan halted hostilities following Operation Sindoor.
The move came amid deteriorating diplomatic ties between India and Turkey, particularly after reports suggested Turkey had supplied drones to Pakistan during attacks targeting India.
Although Celebi reportedly maintained that it had no links with the Turkish government, Indian authorities cited national security concerns while cancelling its clearance.
Operations across nine major Indian airports came to abrupt halt
Before being forced to exit, Celebi had established itself as one of India’s largest airport ground handling and cargo service operators. The company operated through Indian subsidiaries at nine major airports, including Indira Gandhi International Airport, Chhatrapati Shivaji Maharaj International Airport, Kempegowda International Airport and Rajiv Gandhi International Airport.
The company reportedly handled nearly 58,000 flights annually before the contracts were terminated and reassigned to other service providers.
‘It was built stitch by stitch’
Celebioglu said the loss was not just financial but deeply emotional, given the company’s long investment in building operations in India.
Speaking to Bloomberg, she said, “Put the monetary value aside. It was a place built stitch by stitch. We contributed to the development of the sector. We worked with authorities. We invested heavily. This shocked us. It truly saddened us.”
Delhi High Court upheld government’s decision
Following the cancellation, Celebi challenged the decision before the Delhi High Court, arguing that it was not given prior notice or an opportunity to respond.
However, the court dismissed the challenge in July 2025 after reviewing confidential government submissions, ruling in favour of the Centre and citing “compelling national security considerations.”
The court accepted the government’s argument that airport ground-handling firms occupy highly sensitive positions, granting them access to aircraft systems, cargo movement networks, passenger information and restricted airport zones.