Turkish Aviation Firm Celebi Says It Lost ₹4,700 Crore After India Revoked Security Clearance Following Operation Sindoor

Celebi Aviation has claimed it suffered losses worth nearly ₹4,700 crore in a single day after India revoked the company’s security clearance following Operation Sindoor.

The Turkish aviation services company, which operated across several major Indian airports for nearly two decades, said its entire business presence in India collapsed almost overnight.

Company Says Years of Work “Vanished”

Speaking publicly about the issue for the first time, Celebi Chairperson Canan Celebioglu described the decision as one of the most painful moments in the company’s history.

According to the company, its estimated business valuation in India dropped from around $400–500 million to virtually zero after the government action.

Celebioglu said the company’s equipment, operations, and airport handling infrastructure were abruptly taken over after the clearance revocation.

Operations Stopped at Major Indian Airports

Following the cancellation of its security approval in May 2025, Celebi was forced to stop ground handling and cargo services at multiple Indian airports, including:

• Delhi
• Mumbai
• Bengaluru
• Hyderabad

The company had reportedly operated in India for around 17 years before the decision.

10,000 Employees Shifted to Other Firms

Celebi claimed that nearly 10,000 employees connected to its India operations were transferred to other organisations within a single day after the company’s exit.

The company stated that all its investments and long-term operational infrastructure in India were effectively wiped out following the order.

Fallout Linked to Operation Sindoor

The developments came shortly after Operation Sindoor, India’s military response following the April 2025 terror attack in Pahalgam that killed 26 people, most of them tourists.

India blamed Pakistan-linked terrorists for the attack, while Pakistan denied involvement.

During the India-Pakistan tensions that followed, Turkey openly criticised India’s military strikes and publicly supported Pakistan.

Reports also emerged claiming Pakistan used Turkish-made drones during the conflict, further straining India-Turkey relations.

Public Backlash Against Turkish Businesses

Following Turkey’s stance during the conflict, several Indian groups called for boycotts of Turkish tourism, products, and businesses.

Celebi became one of the most affected companies amid the backlash and regulatory scrutiny.

The firm earlier stated that it had no ownership connection with the Turkish government and clarified that the majority of its parent company was owned by international institutional investors.

Celebi also denied social media claims suggesting links between the company and Turkish President Recep Tayyip Erdoğan’s family.

Company Says India Was “Second Home”

Despite the setback, Celebioglu said India had become like a “second home” for the company after years of operations and investments in the country.

She added that the company had worked closely with Indian aviation authorities and invested heavily in developing airport services infrastructure over the years.