Airport’s actions in Turkey, the actions of the Majori Airblebi Aviation Holding, lost a value of almost 20% Thursday and Friday in the wake of India’s decision to revoke the company’s safety authorization of the company, effectively putting its operations in India. Meanwhile, the company whose headquarters are in Istanbul told investors that it “would continue all administrative and legal appeals” to cancel the decision of the Indian government. Stressing the importance of its Indian activity, the company declared that a third of its consolidated income in 2024 came from its Indian subsidiaries.
In the midst of the reaction in India on Turkey’s support in Pakistan in the India -Pakistan conflict, the Indian civil aviation security office (BCAS) revoked the security authorization of an Indian arm – the services of ONLEBI – of çelebi for “national security” reasons with immediate effect. Revocation also applies to other associated entities of çelebi in India. Defending itself, the airport services of çelebi India declared that it was “an Indian company” led and managed by Indian professionals, and is “not a Turkish organization by any standard”.
Following the revocation of the security authorization by the BCAS, the company’s shares landed 10% on Borsa Istanbul (Istanbul Stock Exchange) and closed at 2,224 Turkish Lira (TL). Friday morning, the script of çelebi crashed 10% to 2,002 tl. Trading had to be suspended more than once when the stock crashed. The script had been under pressure for a few days, given the growing dissatisfaction with Turkey in India for the support of the first in Islamabad during the military conflagration last week between India and Pakistan.
“Our company will continue all administrative and legal remedies to clarify these untrusted allegations and overthrow the imposed orders,” said on Thursday in a regulatory file. Friday, following the unilateral termination by various Indian airports of their contracts with the subsidiaries of India in Içelebi, the company declared that it would pursue administrative and legal appeals to request the cancellation of the contracts of the contract.
“Since the start of our operations, our subsidiaries have never had an activity which has violated the national security interests of India or relevant legislation. We believe that the revocation of security authorizations based on unfair and false allegations by the administrative authorities is inappropriate, “said çelebi in regulatory declarations. He also said that as a larger foreign investor in the field and air freight manipulation sector since 2009, the company has provided more than 10,000 Indians and has invested more than $ 250 million in the country.
According to regulatory documents from çelebi, in its consolidated income of approximately $ 585 million in 2024, the five Indian weapons of the company – Celebi reaches Indie, Celebi GH Indie, Celebi Nas Airpalps India, Celebi Delhi Cargo Terminal Management India, and Celebi Gs Chennai Cumulatively recorded for a 333. Operated in nine Indian airports – Mumbai, Delhi, Kochi, Kannur, Bengaluru, Hyderabad, Ahmedabad, Chennai and Goa (MOPA) – and its operations at these airports were distributed between the five subsidiaries, the largest Being Belebi Airport Services India which operated in six Indian airports.
Airports and airlines working with çelebi are turning to the other main soil players in the aviation sector in India such as AI airport services, airport services of Air India Sats and the bird group. The soil handling refers to essential operations so that thefts are prepared and operated. These include manipulation and recording of passengers, luggage handling, handling and management of cargoes, maintenance and maintenance of planes, ramp and catering services.
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In a media press release, çelebi India airport services on Thursday said it was a global aviation service company without links or political affiliation, and belongs to the majority by international institutional investors. The company has also called the allegations as a “incorrect invoice” concerning its property, which have toured social networks. This is in particular the assertion that Sümeyye Erdoğan Bayraktar – Turkey Recep Tayyip Erdoğan – is a party owner in çelebi. The company has categorically rejected this complaint.
© The Indian Express PVT Ltd
