Latest news with #ÇelebiAirportServicesIndia
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Business Standard
19-05-2025
- Business
- Business Standard
Security clearance can't hinge on public perception: Çelebi to HC
Turkish ground handling and cargo operator Çelebi Airport Services India (formerly Celebi Ground Handling Delhi) told the Delhi High Court on Monday that public perception cannot be grounds for revoking security clearance. During the hearing, the company said it had been given neither a reason nor an opportunity for a hearing. 'We have been carrying out operations for 17 years without blemish. Then we received a letter on May 15 cancelling the security clearance. We were given no reason and no opportunity for a hearing. It is because of public perception that the company's shareholding is with Turkish nationals. But public perception cannot be grounds (for revocation of security clearance). There are 14,000 employees working. The entire business goes for a toss,' Çelebi's lawyer told the court. Justice Sachin Datta was hearing Çelebi's plea challenging the Indian government's decision to revoke its security clearance. In its plea, Çelebi argued that the Indian government's decision was 'arbitrary and devoid of specific reasons'. The Ministry of Civil Aviation, acting through the Bureau of Civil Aviation Security (BCAS), withdrew Çelebi's clearance on May 15, citing national security grounds. The move comes amid rising diplomatic tensions after Türkiye supported Pakistan during hostilities involving Operation Sindoor. Çelebi, a wholly owned Indian subsidiary of Turkish parent company Çelebi Aviation Holding, argued that the government's order lacked prior notice or an opportunity to respond. The company described the justification as 'vague' and 'unsubstantiated', asserting that such actions jeopardise foreign investor confidence and threaten the livelihoods of Indian employees. The company also clarified that while it has Turkish ownership, operational and managerial control of its Indian entity is handled by an India-based team, and that it has maintained a clean track record for over a decade at major airports. Solicitor General Tushar Mehta, appearing for the central government, raised national security concerns over the firm's presence, saying, 'The enemy can try 10 times and succeed once; a country has to succeed all the time.' 'In cases of civil aviation and national security, there cannot be a doctrine of proportionality,' he added. He also submitted that individuals employed by the company, who are deployed at airports, have access to every corner of the airport as well as to the aircraft. 'The government had inputs that it would be hazardous in the current scenario to leave this activity in the hands of this company,' he said. Mehta maintained that the revocation was rooted in concerns under the Aircraft (Security) Rules, particularly Rule 12. Rule 12 of Aircraft (Security) Rules, 2023, grants the Director General of Civil Aviation (DGCA) the power to suspend or cancel security clearances and security programmes. The court asked the Centre to demonstrate the 'genuine apprehension' that warranted revocation of the civil aviation licence without prior notice, underscoring the need for transparency even in matters flagged under national security. Mehta replied that the ministry retains the exclusive right to revoke licences without assigning reasons under certain circumstances. The arguments are likely to continue on Wednesday.
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Business Standard
19-05-2025
- Business
- Business Standard
Public perception not valid ground for clearance revocation: Celebi to HC
Turkish ground handling and cargo operator Çelebi Airport Services India (formerly Celebi Ground Handling Delhi) told the Delhi High Court on Monday that public perception cannot be grounds for revoking security clearance. During the hearing, the company said it had been given neither a reason nor an opportunity for a hearing. 'We have been carrying out operations for 17 years without blemish. Then we received a letter on May 15 cancelling the security clearance. We were given no reason and no opportunity for a hearing. It is because of public perception that the company's shareholding is with Turkish nationals. But public perception cannot be grounds (for revocation of security clearance). There are 14,000 employees working. The entire business goes for a toss,' Çelebi's lawyer told the court. Justice Sachin Datta was hearing Çelebi's plea challenging the Indian government's decision to revoke its security clearance. In its plea, Çelebi argued that the Indian government's decision was 'arbitrary and devoid of specific reasons'. The Ministry of Civil Aviation, acting through the Bureau of Civil Aviation Security (BCAS), withdrew Çelebi's clearance on May 15, citing national security grounds. The move comes amid rising diplomatic tensions after Türkiye supported Pakistan during hostilities involving Operation Sindoor. Çelebi, a wholly owned Indian subsidiary of Turkish parent company Çelebi Aviation Holding, argued that the government's order lacked prior notice or an opportunity to respond. The company described the justification as 'vague' and 'unsubstantiated', asserting that such actions jeopardise foreign investor confidence and threaten the livelihoods of Indian employees. 'Technically it's an Indian company. There has to be a reasonable cause. We were not given prior notice,' Çelebi told the court. Also Read: Why is Turkish firm at Indian airports facing heat amid India-Pak tensions The company also clarified that while it has Turkish ownership, operational and managerial control of its Indian entity is handled by an India-based team, and that it has maintained a clean track record for over a decade at major airports. Solicitor General Tushar Mehta, appearing for the central government, raised national security concerns over the firm's presence, saying, 'The enemy can try 10 times and succeed once; a country has to succeed all the time.' 'In cases of civil aviation and national security, there cannot be a doctrine of proportionality,' he added. He also submitted that individuals employed by the company, who are deployed at airports, have access to every corner of the airport as well as to the aircraft. 'The government had inputs that it would be hazardous in the current scenario to leave this activity in the hands of this company,' he said. Mehta maintained that the revocation was rooted in concerns under the Aircraft (Security) Rules, particularly Rule 12. Rule 12 of Aircraft (Security) Rules, 2023, grants the Director General of Civil Aviation (DGCA) the power to suspend or cancel security clearances and security programmes. The court asked the Centre to demonstrate the 'genuine apprehension' that warranted revocation of the civil aviation licence without prior notice, underscoring the need for transparency even in matters flagged under national security. Mehta replied that the ministry retains the exclusive right to revoke licences without assigning reasons under certain circumstances. The arguments are likely to continue on Wednesday.
Economic Times
18-05-2025
- Business
- Economic Times
Turkey's Celebi loses over Rs 2,500 crore in 2 days as stock crashes 20% after India revokes security clearance
Celebi Hava lost over Rs 2,500 crore in market value after India revoked security clearance citing national security. The company is pursuing legal remedies while denying political links and emphasizing its Indian operations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Turkey-based airport ground handling company Çelebi Hava Servisi has seen its market capitalisation erode by more than Rs 2,500 crore (USD 293 million) in just two days, with its shares plunging nearly 20% on Thursday and Friday after India revoked the security clearance of its subsidiaries over national security response, the Istanbul-headquartered firm said it will 'pursue all administrative and legal remedies' to challenge the decision. The company underlined the significance of its India operations, stating that over one-third of its $585 million consolidated revenue in 2024 came from its Indian Bureau of Civil Aviation Security (BCAS) revoked the security clearance of Çelebi Airport Services India on Thursday, effective immediately. The move impacted all associated entities of the group operating in the country. Çelebi maintained that its Indian operations are 'truly an Indian enterprise' managed by Indian professionals and 'not a Turkish organisation by any standard.'The action by Indian authorities comes amid a diplomatic backlash over Turkey's support for Pakistan during last week's India-Pakistan conflict, which saw military tensions escalate between the two neighbours. The revocation of security clearance was reportedly grounded in national security the government order, Çelebi's shares fell 10% on the Borsa Istanbul on Thursday, closing at 2,224 Turkish Lira, and crashed another 10% on Friday to 2,002 TL, triggering multiple trading halts. The sell-off resulted in a total market value loss of over Rs 2,500 crore in two days.Çelebi Airport Services India has moved the Delhi High Court to set aside the revocation order, with a hearing expected on Monday.'Our Company will pursue all administrative and legal remedies to clarify these unfounded allegations and to reverse the imposed orders,' Çelebi said in a regulatory filing. It added that its subsidiaries had always complied with Indian laws and never posed any threat to national entering the Indian market in 2009, Çelebi has invested over $250 million and employs more than 10,000 Indians. It operates at nine airports across the country—including Delhi, Mumbai, Bengaluru, and Hyderabad—through five different subsidiaries. Çelebi Airport Services India, the largest among them, was operating at six Çelebi's operations suspended, several airports and airlines in India are now shifting to alternative ground handlers such as AI Airport Services, Air India SATS, and Bird the company also issued a clarification denying social media claims linking its ownership to Turkish President Recep Tayyip Erdoğan's daughter, Sümeyye Erdoğan Bayraktar. Çelebi called the allegation 'factually incorrect' and reiterated that it is majority-owned by international institutional investors with no political Read: Street Favourite! SBI, Tata Motors among 10 large-cap stocks analysts expect to rally up to 32% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
18-05-2025
- Business
- Time of India
Turkey's Celebi loses over Rs 2,500 crore in 2 days as stock crashes 20% after India revokes security clearance
Turkey-based airport ground handling company Çelebi Hava Servisi has seen its market capitalisation erode by more than Rs 2,500 crore (USD 293 million) in just two days, with its shares plunging nearly 20% on Thursday and Friday after India revoked the security clearance of its subsidiaries over national security concerns. In response, the Istanbul-headquartered firm said it will 'pursue all administrative and legal remedies' to challenge the decision. The company underlined the significance of its India operations, stating that over one-third of its $585 million consolidated revenue in 2024 came from its Indian subsidiaries. The Bureau of Civil Aviation Security (BCAS) revoked the security clearance of Çelebi Airport Services India on Thursday, effective immediately. The move impacted all associated entities of the group operating in the country. Çelebi maintained that its Indian operations are 'truly an Indian enterprise' managed by Indian professionals and 'not a Turkish organisation by any standard.' The action by Indian authorities comes amid a diplomatic backlash over Turkey's support for Pakistan during last week's India-Pakistan conflict, which saw military tensions escalate between the two neighbours. The revocation of security clearance was reportedly grounded in national security considerations. Following the government order, Çelebi's shares fell 10% on the Borsa Istanbul on Thursday, closing at 2,224 Turkish Lira, and crashed another 10% on Friday to 2,002 TL, triggering multiple trading halts. The sell-off resulted in a total market value loss of over Rs 2,500 crore in two days. Çelebi Airport Services India has moved the Delhi High Court to set aside the revocation order, with a hearing expected on Monday. 'Our Company will pursue all administrative and legal remedies to clarify these unfounded allegations and to reverse the imposed orders,' Çelebi said in a regulatory filing. It added that its subsidiaries had always complied with Indian laws and never posed any threat to national security. Since entering the Indian market in 2009, Çelebi has invested over $250 million and employs more than 10,000 Indians. It operates at nine airports across the country—including Delhi, Mumbai, Bengaluru, and Hyderabad—through five different subsidiaries. Çelebi Airport Services India, the largest among them, was operating at six airports. With Çelebi's operations suspended, several airports and airlines in India are now shifting to alternative ground handlers such as AI Airport Services, Air India SATS, and Bird Group. Meanwhile, the company also issued a clarification denying social media claims linking its ownership to Turkish President Recep Tayyip Erdoğan's daughter, Sümeyye Erdoğan Bayraktar. Çelebi called the allegation 'factually incorrect' and reiterated that it is majority-owned by international institutional investors with no political affiliations. Also Read: Street Favourite! SBI, Tata Motors among 10 large-cap stocks analysts expect to rally up to 32%
Indian Express
16-05-2025
- Business
- Indian Express
Turkey-based Çelebi's stock price crashes nearly 20% in 2 days; company says will pursue ‘administrative and legal remedies' to reverse India's decision
Turkey-based airport ground handling major Çelebi Aviation Holding's shares have lost almost 20 per cent value on Thursday and Friday in the wake of India's decision to revoke the security clearance of the company's India arms, effectively bringing its India operations to a sudden halt. Meanwhile, the Istanbul-headquartered company told investors that it will 'pursue all administrative and legal remedies' to reverse the Indian government's decision. Underscoring the importance of its India business, the company said that a third of its consolidated revenue in 2024 came from its Indian subsidiaries. Amid the backlash in India over Turkey's support for Pakistan in the in the India-Pakistan conflict, India's aviation security regulator Bureau of Civil Aviation Security (BCAS) on Thursday revoked the security clearance of an Indian arm—Çelebi Airport Services India—of Çelebi on grounds related to 'national security' with immediate effect. The revocation also applies to other associate entities of Çelebi in India. Defending itself, Çelebi Airport Services India said that it is 'truly an Indian enterprise' led and managed by Indian professionals, and is 'not a Turkish organisation by any standard'. Following the revocation of security clearance by BCAS, the company's shares tanked 10 per cent on Borsa Istanbul (Istanbul Stock Exchange) on Thursday and closed at 2,224 Turkish Lira (TL). Then on Friday morning, the Çelebi scrip crashed by another 10 per cent to 2,002 TL. Trading had to be suspended more than once as the stock crashed. The scrip had been under pressure for the past few days, given the growing dissatisfaction with Turkey in India for the former's support for Islamabad in last week's military conflagration between India and Pakistan. 'Our Company will pursue all administrative and legal remedies to clarify these unfounded allegations and to reverse the imposed orders,' Çelebi said in a regulatory filing on Thursday. On Friday, following the unilateral termination by various Indian airports of their contracts with Çelebi's India subsidiaries, the company said that it will pursue administrative and legal remedies to seek the annulment of the contract terminations. 'Since the beginning of our operations, our subsidiaries have never engaged in any activity that violates India's national security interests or relevant legislation. We believe the revocation of security clearances based on unjust and false allegations by administrative authorities is inappropriate,' Çelebi said in regulatory filings. It also said that as the largest foreign investor in India's ground handling and air cargo sector since 2009, the company has provided employment to over 10,000 Indians and invested over $250 million in the country. According to Çelebi's regulatory filings, in its consolidated revenue of around $585 million in 2024, the company's five Indian arms—Celebi Airport Services India, Celebi GH India, Celebi Nas Airport Services India, Celebi Delhi Cargo Terminal Management India, and Celebi GS Chennai cumulatively accounted for a 33.8 per cent share, which comes out to over $195 million. Çelebi operated at nine Indian airports—Mumbai, Delhi, Kochi, Kannur, Bengaluru, Hyderabad, Ahmedabad, Chennai, and Goa (Mopa)—and its operations at these airports were distributed among the five subsidiaries, the biggest being Çelebi Airport Services India that was operating at six Indian airports. The airports and airlines that were working with Çelebi are turning to the other major ground handling players in India's aviation sector like AI Airport Services, Air India SATS Airport Services, and the Bird group. Ground handling refers to operations that are critical for flights to be prepared and operated. These include passenger handling and check-in, baggage handling, cargo handling and management, aircraft servicing and maintenance, ramp services, and catering. In a media statement, Çelebi Airport Services India Thursday said that it is a globally operated aviation services company with no political links or affiliation, and is majority-owned by international institutional investors. The company also termed as 'factually incorrect' the allegations about its ownership that have been doing rounds on social media. These include the claim that Sümeyye Erdoğan Bayraktar—daughter of Turkey's President Recep Tayyip Erdoğan—is a part owner in Çelebi. The company categorically rejected this claim. Sukalp Sharma is a Senior Assistant Editor with The Indian Express and writes on a host of subjects and sectors, notably energy and aviation. He has over 13 years of experience in journalism with a body of work spanning areas like politics, development, equity markets, corporates, trade, and economic policy. He considers himself an above-average photographer, which goes well with his love for travel. ... Read More
