New Delhi: The stock of Turkish ground-handling firm Celebi Airport Services tanked 10 per cent on Friday after India revoked the security clearance of the company amid calls to ban Turkish businesses, in the wake of their country supporting Pakistan which harbours terrorism.
The stock fell 222 points, or 10 per cent, to trade at 2,002 in Istanbul on Friday, extending its losses to nearly 30 per cent in four sessions. The stock was under pressure in the past few days amid clamour for action against the Turkish firm.
In a notification, the Ministry of Civil Aviation said on Thursday that “in the exercise of power conferred upon DG, BCAS, the security clearance in Celebi Airport Services India Pvt Ltd is hereby revoked with immediate effect in the interest of National Security.”
“Recognising the seriousness of the issue and the call to protect national interests, we have taken cognizance of these requests and Ministry of Civil Aviation has revoked security clearance of the said company. Ensuring the safety and interests of the nation remains our top priority,” said Minister of State for Civil Aviation and Cooperation, Murlidhar Mohol.
In compliance with the Bureau of Civil Aviation Security (BCAS) directive, Delhi International Airport Limited (DIAL) has formally ended its association with Celebi entities responsible for ground handling and cargo operations at the Indira Gandhi International Airport (IGIA).
Adani Airport Holdings has terminated the ground handling concession agreement with Turkish firm Celebi at Mumbai and Ahmedabad airports with immediate effect.
The ground handling operations of Celebi Aviation have been suspended at Kempegowda International Airport in Bengaluru, as per the directive of the central government.
Since its entry in 2008, Celebi has expanded its presence in India’s aviation sector. As per reports, the firm is partly owned by Sumeyye Erdogan, daughter of Tayyip Erdogan. Sumeyye Erdogan is married to Selcuk Bayraktar, the man who produces Bayraktar military drones which Pakistan used against India.
IANS
3 out of 4 Indian recruiters investing up to 70 pc hiring budgets in AI
New Delhi: Three out of four (75 per cent) recruiters in India are investing up to 70 per cent of their hiring budgets in recruitment tech and AI tools, a...
India-EU trilateral cooperation agreement to benefit Global South
Brussels: India and the European Union (EU) on Wednesday signed an agreement on Trilateral Cooperation that focuses on joint priorities and supports pilot projects in third countries. The agreement driving...
India stays in top 10 global investment destinations for land and development projects
New Delhi: India continues to be in the top 10 global cross-border investment destinations for land and development sites, a report showed on Wednesday. The country is emerging as a...
Piyush Goyal rolls out red carpet for Swiss firms to invest in India
New Delhi: Commerce and Industry Minister Piyush Goyal has invited Swiss companies to expand their footprint in India and take advantage of the country's dynamic and rapidly growing market. The...
India’s hospitality sector expected to clock 8 pc growth in FY26: Report
New Delhi: India's hospitality sector is expected to post a revenue growth of 6-8 per cent in FY2026 on the high base recorded after three years of double-digit revenue expansion...
Bharti Airtel inks multi-year pact with Ericsson for pan-India network
New Delhi: Bharti Airtel on Monday signed a multi-year strategic agreement with Ericsson where the Swedish giant will manage Airtel services across 4G, 5G NSA, 5G SA, Fixed Wireless Access...
Maharashtra, Karnataka lead India’s record FDI growth in FY25
New Delhi: Maharashtra and Karnataka emerged as the top destinations for foreign direct investment (FDI) in India during the financial year 2024–25, jointly accounting for 51 per cent of the...
TN to roll out multi-lingual audio guides at 22 key tourist sites
Chennai: In a move to modernise tourism and improve visitor engagement, the Tamil Nadu Tourism Development Corporation (TTDC) is set to introduce immersive, self-guided audio tours at 22 prominent heritage...
India Pavilion rated among top 5 at ‘World Expo 2025’ in Japan
New Delhi: The India Pavilion titled ‘Bharat Mandap’ has secured a place among the top five most admired pavilions at the ongoing ‘World Expo 2025’ in Osaka, Japan, it was...
Stock market exhibits resilience, RBI’s rate cut icing on the cake
Mumbai: After starting the week with consolidation, the domestic market exhibited resilience amid concerns over tariff wars and geopolitical escalations, analysts said on Saturday. Markets consolidated for the third consecutive...
RBI reduces inflation forecast to 3.7 pc for 2025-26
Mumbai: The RBI has revised its inflation outlook for 2025-26 downwards from the earlier forecast of 4 per cent to 3.7 per cent, Reserve Bank Governor Sanjay Malhotra said on...
RBI cuts repo rate by 50 basis points to 5.5 pc, changes policy stance to neutral
Mumbai: RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in...
