Their $500 million investment vanished overnight

Due to the 36th NATO Summit held in Ankara, leaders from all over the world flocked to Turkey on July 7-8. As US President Donald Trump also arrived in Ankara within the scope of the summit, the equipment used to welcome the heads of state witnessed remarkable moments. This first visit to Turkey by the American President, carried out with the 'Air Force One' plane gifted by Qatar, also found wide repercussions. In the frames taken during the American President's landing in Ankara, the "Celebi" logo appeared on the passenger stairs welcoming Trump on the apron, and the company's name found a free promotional opportunity in the global media.

However, Çelebi Holding has recently faced a major loss in the international arena. Known as one of Turkey's largest aviation companies, the holding suffered heavy losses following political and economic developments in India, its largest foreign operations center.

THE LARGEST OPERATION ABROAD ENDED OVERNIGHT

The company's Chairperson of the Board, Canan Çelebioğlu, stated in her explanation that they had built their systems in India, which housed tens of thousands of employees, step by step, but that the system was collapsed overnight as a result of developments last year. Çelebioğlu said, "Around May 15 last year, this business of ours was stopped by the state there, and everything, all our equipment, was seized, and they removed us from there. They transferred our 10,000 employees to another company in one day by the state, and they brought a value that we had created of perhaps 400-500 million dollars to zero in one day," she expressed.

India-Political tensions, Turkey's rapprochement with Pakistan, and long-standing conflicts in the region caused many Turkish companies like Celebi to be targeted. While the Indian administration canceled the work permits of various Turkish firms in the country, a comprehensive boycott campaign against Turkey was also launched in public opinion. Indians suspended visits and investments to Turkey in many areas from tourism to trade.

Çelebioğlu points out that the operation in India held not only financial significance but also sentimental value for the company's employees and executives: "This was a really, very sad event for us because, putting aside its monetary value, it was truly a place that was woven stitch by stitch. Because, after all, India is a different country. Even though we had some commonalities, there were, of course, troubles and difficulties."

This investment, which was grown with labor over ten years and provided employment to thousands of people, was erased overnight in the shadow of political developments.

News Source: 12punto