Waha Capital has boosted its stake in New York-listed AerCap Holdings and may purchase more shares in the aircraft leasing firm, the Abu Dhabi Investment company said.
Waha bought 2.04 million shares in AerCap for US$76.8 million in an open market share purchase, it said in a statement.
The acquisition has boosted Waha’s holding in Aercap to 14.6 per cent from 13.6 per cent.
“Waha Capital, which has been a major shareholder in AerCap Holdings since 2010, may purchase up to an additional 1.96 million shares in AerCap Holdings under the programme, subject to certain price and other conditions,” the company said.
Waha Capital increased its stake in AerCap to 13.6 per cent from 12.6 per cent at the end of 2014 after the airline leasing company bought back $750m worth of shares from New York-based insurer American International Group (AIG).
Waha’s third-quarter profit fell 61 per cent as volatility in global securities weighed on gains at its capital markets division and income from its stake in AerCap declined during the quarter.
AerCap’s third quarter net income last year declined 11 per cent to $293.9m from $333.8m.
dalsaadi@thenational.ae
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