Waha Capital has hedged 12 million shares it owns in AerCap Holdings and has sold a further 3 million shares in the aircraft leasing firm, providing Waha with $532 million in funding, the Abu Dhabi-listed company said on Thursday.

The announcement follows a similar deal by Waha in September, when it hedged half its stake - 15 million shares - in Aercap.

The new agreement locks in the value of 12 million Aercap shares at a minimum $37.11 each up to a maximum of $52.22, versus minimum and maximum prices of $42.39 and $61.23 respectively in the September deal.

Waha also sold 3 million Aercap shares, or 10 per cent of its holding, for an undisclosed amount, reducing its overall stake to 12.6 per cent from 14.1 per cent, according to a company statement to Abu Dhabi's bourse.

Waha said it would use the $532 million of funding provided by the December deal for new investments, to repay debt and general expenses.

AerCap's shares ended Wednesday at $43.01, down 12.7 per cent from August's 2014 high.

AerCap Holdings, in which Waha was its largest shareholder, bought American International Group's aircraft leasing business in a $5.4 billion cash and share deal that was completed in May. This deal reduced Waha's stake in AerCap to 14.1 per cent from 26.3 per cent.-Reuters