Abu Dhabi’s Waha Capital Q1 Profit Jumps 78%

Abu Dhabi investment company Waha Capital posted a 78 per cent 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 Dhs152 million($41.4 million) from Dhs85 million a year earlier, it said in a statement.

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

The firm did not disclose the sale price at the time but disclosed on Tuesday that it was Dhs307 million.