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India Revokes Security Clearance, Celebi Loses $293 Million

5/20/2025

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Summary

Story summary

In a significant move, India has revoked the security clearance for Turkish firm Celebi Airport Services, citing national security concerns linked to Turkey's backing of Pakistan. This decision led to a staggering $293 million drop in Celebi's market value within just two days. The company is now gearing up to contest the revocation in the Delhi High Court, claiming adherence to Indian regulations.

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Story summary

In a significant move, India has revoked the security clearance for Turkish firm Celebi Airport Services, citing national security concerns linked to Turkey's backing of Pakistan. This decision led to a staggering $293 million drop in Celebi's market value within just two days. The company is now gearing up to contest the revocation in the Delhi High Court, claiming adherence to Indian regulations.