May 13, 2014 / 4:26 AM / 4 years ago

Abu Dhabi's Waha Capital Q1 profit jumps 78 pct

DUBAI, May 13 (Reuters) - 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 U.S.-based investor.

The firm did not disclose the sale price at the time but disclosed on Tuesday that it was 307 million dirhams. ($1 = 3.6730 UAE Dirhams) (Reporting by Olzhas Auyezov; Editing by Yara Bayoumy)

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