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Starbow appoints DVB Bank to advise

2013/02/27 03:26:49 PM

Posted Mon, 18 Mar 13

Accra/London, 7 March 2013: Aero Surveys Limited (“Starbow”) and DVB Bank SE (“DVB”) announced that they have signed an agreement whereby DVB will assist and advise Starbow on its fleet renewal and aircraft selection process. DVB’s role includes advisory on the selection, integration and procurement of the new fleet. 

The appointment of DVB is crucial in assisting Starbow with the renewal of its fleet to bring about its medium to long term goal of expanding its services across the region and efficiently connecting the main city pairs in the West African region, many of which remain grossly underserved. Starbow’s Accountable Manager Captain Nimoh Kwaku Mensah commented: “we are delighted with our association with an industry leader such as DVB; their assistance will help our management team accelerate our regional expansion plans”. Andy Smith, Starbow ́s Head of Commercial stated that “ DVB bring a wealth of aviation and finance experience to the table and we look forward to working with them to ensure that our new fleet is optimized for our future growth plans.”. 

Bertrand Grabowski, a member of DVB’s Board of Managing Directors said: “Africa is an almost unknown territory for DVB Aviation and is clearly a continent that is rapidly changing and evolving. We have been impressed by the strength of Starbow's management and the vision shared by its shareholders. This undertaking will help Starbow in a critical phase of its development and we are very proud to have been selected by the airline for this task.” 

About Aero Surveys Limited: Aero Surveys Limited, operating under the commercial name “Starbow” is a privately owned airline headquartered in Accra. Starbow operates both domestic and regional flights out of its base at Kotoka International Airport. Currently, Starbow is the largest locally registered airline in Ghana with a fleet of four BAe146-300 aircraft. As well as having the largest fleet in Ghana, Starbow also has the largest share of the fast-growing domestic passenger market serving Kumasi, Takoradi and Tamale with more than 46 departures per week. Starbow offers both an economy class and a premium business class product. Starbow’s ambition is to become West Africa’s premier airline through its core values of safety and reliability. 

About DVB Bank SE: DVB Bank SE, headquartered in Frankfurt/Main, Germany, is the leading specialist in the international Transport Finance business. The Bank offers integrated financing solutions and advisory services in respect of Shipping Finance, Aviation Finance, and Land Transport Finance. DVB is present at all key international financial centres and transport hubs: at its Frankfurt/Main head office, as well as various European locations (Athens, Bergen, Hamburg, London, Oslo, Rotterdam and Zurich), plus offices in the Americas (New York City and Curaçao) and in Asia (Singapore and Tokyo). DVB Bank SE is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501).