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Turkey’s Çelebi Shares Plunge After India’s Decision

Turkey’s Çelebi Shares Plunge After India’s Decision

Çelebi Hava Servisi, a Turkish airport ground handling company, experienced a sharp drop in its shares after India revoked its security clearance. This decision halted the company's operations in India, where it earns a significant portion of its revenue. The company intends to challenge this decision legally and administratively, asserting that it has always operated within the laws of India. The revocation comes amid tensions between India and Turkey, linked to Turkey's support for Pakistan. With contracts being terminated, Çelebi is losing business to competitors in the Indian aviation sector.

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