Why Did Celebi Aviation Shares Crash in Just Two Days?

Celebi Aviation Shares Crash: What Triggered the Freefall?

Following India’s decision to suspend the security clearance of its Indian subsidiaries, the share value of Turkey-based ground handling giant Celebi Aviation Holding has plummeted by nearly 20% in just two trading days. Due to national security concerns, Celebi’s operations at nine major Indian airports have been essentially halted. Several trading suspensions on the Borsa Istanbul were caused by the company’s shares dropping 10% on Thursday and another 10% on Friday.

India Halts Celebi Operations: Is Turkey’s Political Stance to Blame?

The abrupt action by India’s Bureau of Civil Aviation Security (BCAS) coincides with mounting criticism of Turkey‘s outspoken backing of Pakistan during the military standoff between India and Pakistan last week. The cancellation has affected not only Celebi Airport Services India but also its other Indian companies, even though Celebi has denied any political affiliation. Celebi Airport Services India said in a statement that it is a real Indian company run by Indian experts.

We are not a Turkish organisation by any standard,

the company

Airlines Scramble as Celebi Loses Key Airport Contracts in India

Emphasizing the significance of its India business, Celebi revealed that in 2024, its Indian companies accounted for 33.8%, or roughly $195 million, of its total consolidated sales of $585 million. With more than 10,000 local employees and more than $250 million invested in India since 2009, Celebi operates in airports in Delhi, Mumbai, Bengaluru, and Chennai. Airlines and airport authorities are rushing to bring in other big firms like AI Airport Services, Air India SATS, and the Bird Group as a result of Celebi’s airport contracts being terminated.

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