Wednesday, March 20, 2013

■ GHANA: DVB Bank SE to advise Starbow on fleet renewal/selection process.

Starbow AirlinesGhana's Starbow Airlines (S9) and Germany's DVB Bank SE (“DVB”) have announced the signing of an agreement in which DVB will assist and advise Starbow on its fleet renewal and aircraft selection process.

DVB Bank SE, head-quartered in Frankfurt/Main, Germany, is a specialist in the international transport finance business, offering integrated financing solutions and advisory services in Shipping Finance, Aviation Finance and Land Transport Finance and is present at all key financial centres and transport hubs.

DVB’s role in the agreement will include advice on the selection, integration and procurement of a new fleet for Starbow in order for it to achieve its medium and long term goal of expanding services across the West African region and efficiently connecting its main city pairs, many of which remain grossly under-served.

Captain Nimoh Kwaku Mensah, Starbow’s Accountable Manager, 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.
Starbow´s Head of Commercial, Andy Smith, said the Bank would bring a wealth of aviation and finance experience to the table, and the company look forward to a new fleet optimised for future growth plans.

Bertrand Grabowski, a member of DVB’s Board of Managing Directors noted:
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.”
Starbow is the largest locally registered airline in Ghana with a fleet of four BAe146-300 aircraft, and in addition to having the largest fleet in Ghana, Starbow also has more than 46 departures per week to Kumasi, Takoradi and Tamale, with the aim of becoming West Africa’s premier airline