Celebi Aviation Capex Financing (EBRD-54539)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Turkiye
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ankara, Antalya, Balikesir, Bodrum, Cukurova, Dalaman, Istanbul, Izmir, Sabiha Gokcen, and Trabzon
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 12, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Celebi Hava Servisi A.S.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 18.71 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 18
Converted using 2025-02-12 exchange rate.
Loan Amount (USD)
$ 18.71 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 18
Converted using 2025-02-12 exchange rate.
Project Cost (USD)
$ 18.71 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 18
Converted using 2025-02-12 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 27, 2025

Disclosed by Bank Apr 7, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the project consists of the provision of a loan of up to EUR 18.0m to Celebi Hava Servisi A.S.. The Bank's proceeds will be used to acquire electrical ground support equipment and to convert existing conventional ground support equipment into electrical over the 2024-2025 period in ten airports in Turkiye, namely Ankara, Antalya, Balikesir, Bodrum, Cukurova, Dalaman, Istanbul, Izmir, Sabiha Gokcen, and Trabzon airports.

The Project aims to support the Company in advancing the electrification and decarbonisation of its operations while upgrading its handling capacity across multiple stations in Turkiye.

Technical Cooperation support for corporate climate governance has been provided by Japan. This will enhance the Borrower's CCG practices including the use of the Greenhouse Gas Protocol as a basis for the calculation and reporting of greenhouse gas emissions.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, Celebi Hava Servisi A.S., the Borrower, is the first privately-owned ground handling service provider in the Turkish aviation industry established in 1958. The Company provides ground (passenger) handling, cargo handling and warehouse management, and operation services across Turkiye, India, Hungary, Germany, Tanzania, and Indonesia. About 90% of the Company's shares are owned by Celebi Havacilik Holding A.S., which is jointly controlled by the Turkish Celebioglu Family and Turkiye-based private equity firm Actera Group. The remaining shares are publicly traded at Borsa Istanbul since 1996.

According to Bloomberg, the Company also sells jet fuel.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Actera Group Limited Parent Company Industry and Trade owns Celebi Hava Servisi A.S. Client Transport

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Celebi Hava Servisi A.S.:

Deniz Bal
Email: deniz.bal@celebiaviation.com
Phone: +90 212 952 92 60
Website: https://www.celebiaviation.com/tr
Address: Tayakadin Mahallesi Nuri Demirag Caddesi No:39 Arnavutkoy - Istanbul/Türkiye

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

How it works

How it works