Celebi says India’s May 2025 licence revocation erased $500 million in value in one day

In May 2025, India abruptly revoked the security clearance of Turkish firm Celebi Aviaton’s local unit on national security grounds, ending its ground-handling rights at nine major airports including New Delhi and Mumbai. The company says the move, along with the seizure of equipment, transfer of employees and termination of contracts, wiped out an estimated $500 million in value. The decision followed Operation Sindoor, during which Turkey provided drones and other military support to Pakistan.