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Celebi says India ouster wiped out $500 million value
India Today··16 Jun
India Today reported that Turkish aviation services firm Celebi said India's 2025 revocation of security clearance for its Indian arm wiped out up to $500 million in value overnight after Turkey supported Pakistan during Operation Sindoor.
Prism
What It Means For You
- Foreign-owned firms in sensitive sectors face direct geopolitical risk.
- Airport ground handling is treated as a national security function, not just a service business.
- Workers and contractors can be affected overnight by diplomatic tensions.
What's Happening
- Celebi says India action erased $400-500 million in value.
- The company lost Indian airport operations after security clearance revocation.
- The action followed Turkey's support for Pakistan during Operation Sindoor.
Legal Context
- BCAS revoked clearances in May 2025.
- Delhi High Court upheld the government's national-security decision.
- Celebi had a 17-year presence in India and about 10,000 workers linked to operations.
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