Abu Dhabi's Waha Capital Q1 profit jumps 78%

Abu Dhabi's Waha Capital Q1 profit jumps 78%
27. Waha Capital Industry: Financial Services Market cap (US$m): 1435.819275
Published: 13 May 2014 - 7:55 a.m.
By: Olzhas Auyezov

Abu Dhabi investment company Waha Capital posted a 78-percent jump in first-quarter profit on Tuesday as the sale of its stake in AerLift Leasing boosted the firm's income.

Waha Capital's net profit in the three months to end-March rose to 152 million dirhams ($41.4 million) from 85 million dirhams a year earlier, it said in a statement.

Last month, Waha Capital said it had sold its 60.7 percent stake in AerLift Leasing, which owns a portfolio of 11 commercial aircraft operated by a number of international airlines, to a US-based investor.

The firm did not disclose the sale price at the time but disclosed on Tuesday that it was 307 million dirhams. (Reuters)

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