Celebi’s stock crashes, Turkish Embassy faces protest as India-Turkiye ties sour
Shares of Turkiye-based Çelebi Aviation Holding plunged nearly 20 per cent over Thursday and Friday following the Indian government’s abrupt decision to revoke security clearance for the company’s operations in the country.
In a statement to investors, the Istanbul-headquartered ground handling giant said it would “pursue all administrative and legal remedies” to challenge the Indian government’s action.
Earlier in the day, hundreds of protesters gathered in Delhi’s high-security Chanakyapuri area, attempting to march towards the Embassy of Turkiye. The Delhi Police, however, stopped the demonstrators and detained several individuals to prevent escalation.
The protest was sparked by Turkiye’s recent support for Pakistan during its hostilities with India. Demonstrators accused Turkiye of betraying India, citing its supply of drones to Pakistan—reportedly used in recent attacks against Indian forces.
“Turkiye has backstabbed India. When they were in need after the earthquake, we stood by them and sent aid. But what did they do? They supplied drones to Pakistan which were used to attack us,” said a protester affiliated with the Swadeshi Jagran Manch.
Protesters referenced Operation Dost, India’s humanitarian mission launched in February 2023, which provided extensive assistance to Turkiye following a devastating earthquake. The aid included National Disaster Response Force (NDRF) teams, search and rescue dog squads, medical teams, field hospitals, medicines, relief materials, and specialised equipment.
“India should cut all diplomatic ties with Turkiye. This is absolutely unacceptable,” another protester stated.
Carrying banners and shouting slogans, the demonstrators attempted to reach the Turkish Embassy but were blocked by multiple layers of police barricades.
Officers tried to pacify the crowd, but when tensions escalated, several participants were detained as a precaution.
Although India and Pakistan agreed to halt cross-border firing and shelling on May 10 after four days of hostilities, social media platforms have remained agitated over Turkiye’s perceived unconditional support for Pakistan.
During a recent press briefing, the Indian Armed Forces confirmed that Pakistan had used advanced weaponry supplied by “Turkiye and China”, including Turkish drones and PL-15 missiles from China.
Amid growing outrage, calls for a boycott of Turkish goods and tourism have surged across the country. Online travel platforms such as EaseMyTrip, Cox & Kings, and Ixigo have responded by suspending travel packages to Turkiye and China, and issuing advisories against visiting the two countries.
In a significant move, the Indian government on Thursday revoked the security clearance of Turkish company Celebi Airport Services.
The firm had been operating in India for over a decade, providing services such as ramp handling, passenger and cargo operations, bridge management, and lounge services at major airports in Mumbai, Delhi, Bengaluru, Hyderabad, Kochi, Kannur, Goa (GOX), Ahmedabad, and Chennai.
India