Stake was bought by a newly established US-based aircraft leasing platform for an undisclosed amount
Abu Dhabi investment company Waha Capital has sold its stake in AerLift Leasing to an unidentified US firm for an undisclosed amount, Waha said on Sunday.
At the end of 2012, Waha had a 60.4 percent stake in AerLift Leasing, which is incorporated in the Isle of Man, according to Waha's most recent annual report.
"We have crystallised a good return to our shareholders through this sale, which adds to the capital base we are building to make future investments in areas of strong growth potential," Waha chief executive Salem Rashid Al Noaimi said in a statement to Abu Dhabi's bourse.
The statement did not reveal the deal value or identify the buyer of AerLift Leasing, which owns a portfolio of 11 commercial aircraft operated by a number of international airlines.
Waha and New York-listed aircraft leasing company AerCap established Aerlift in 2010, with Waha owning about 60 percent and AerCap 40 percent. Waha in turn owned 26.3 percent of AerCap at the end of 2012.
Aerlift paid Aercap $6.9m for management services in 2013.
In December, AerCap said it would buy International Lease Finance Corp from insurer AIG for $5bn.
Waha Capital also has investments in sectors including marine shipping, healthcare and property.