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(Bloomberg) — Turkish company Çelebi Aviation said on Saturday it’s “fully cooperating” with Indian authorities and adhering to regulations after its ground handling and cargo warehouse operations were suspended due to national security concerns.
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“We are closely monitoring the situation and cooperating fully with the relevant authorities,” Çelebi said in a statement. “We are following the process diligently and within the legal framework, in close cooperation with the relevant local authorities. To date, all our operations have been carried out in full compliance with regulations.”
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On Thursday, India’s Bureau of Civil Aviation Security said it has revoked the security clearance of Çelebi and its associated companies “on grounds related to national security,” without specifying its concerns. The move comes amid calls to boycott Turkey over the latter’s support for Pakistan during a heightened conflict between the South Asian rivals earlier this month.
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In its statement on Saturday, Çelebi said institutional investors from Canada, the US, the UK, Singapore, the United Arab Emirates and Western Europe together own 65% of the company. Actera Partners II LP, a Jersey-registered fund, holds a 50% stake in Çelebi Havacılık Holding AS, Alpha Airport Services BV, a Dutch-registered entity, owns 15%, and the remaining 35% is held by the Çelebioğlu family.
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“In all countries where we operate, we possess valid licenses and fully comply with applicable security regulations,” Çelebi said. “We would also like to highlight that we have never received any warnings or penalties related to national security matters to date.”
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