* Q2 net loss 12.4 mln dhs vs 6 mln dhs profit yr-ago - statement

* Higher provisioning behind loss

* AerCap stake up after declines share buyback, may go higher

ABU DHABI, Aug 1 (Reuters) - Abu Dhabi's Waha Capital

WAHA.AD swung to a second quarter net loss, the company's financial statement showed, as provisions on assets and loans weighed on the balance sheet.

Waha, whose shareholders include Abu Dhabi government entities, posted a 12.4 million dirhams ($3.4 million) loss for the three months to June 30, against a net profit of 6 million dirhams in the second quarter of 2011.

"The decline was driven mainly by a one-off gain on sale of investment in first half of 2011 and provisions taken on some assets in the first half of this year," the statement said.

Waha booked 16 million dirhams as provision for doubtful loans and receivables and 7.3 million dirhams towards impairment of operating lease assets in the first half of this year, the statement said.

The firm's operating income rose to 33.1 million dirhams in the second quarter compared to 21.8 million dirhams in the year-ago period, according to the statement.

But net income for the first six months of the year dropped 90 percent from the corresponding period in 2011 to 3.5 million dirhams.

Waha saw an increase in its holding of aircraft lessor AerCap AER.N to 22.2 percent from 21.3 percent after it decided against participating in a share repurchase scheme.

"Waha Capital's shareholding may increase further if it decides not to participate in this year's second repurchase programme," the statement added.

($1 = 3.6730 UAE dirhams)

(Reporting by Stanley Carvalho; Editing by David French)

((stanley.carvalho@thomsonreuters.com)(Tel: + 9712 6444431))

Keywords: EMIRATES WAHA/EARNINGS