Global aviation asset trading and material management company EirTrade Aviation has completed the acquisition of two Airbus A320neo aircraft previously operated by Spirit Airlines, in partnership with aviation and rail lessor RESIDCO.

At just four years and three-and-a-half years old, the aircraft are the youngest Airbus A320neo airframes the company has dismantled to date.

Disassembly is already underway in Goodyear, Arizona, with all harvested material destined for EirTrade Aviation’s parts hub in Dallas.

The inventory will be used to support aircraft on ground (AOG) requirements across the Americas, strengthening the company’s global A320neo stock profile.

EirTrade Aviation confirmed that the material will be released to the market by the end of the first quarter, available for sale, exchange and AOG support.

Bill Thompson, vice president origination and trading for the Americas at EirTrade Aviation, said: “We are focused on newer vintage aircraft to ensure that our inventory contains the highest quality rotables which ensure that our customers can be supported with the latest modification standard components.

“We have also acquired four sets of in-demand LRU and BFE components from the PW1100 engine type within this significant transaction.”

According to EirTrade Aviation, there are currently over 4,400 A320neo aircraft in commercial service with a further 7,200 on order, and this excludes the current in-service fleet of 6,500 ceo aircraft for which many of the components are interchangeable.

Thompson added: “Given the size of the fleet and Airbus orderbook, this platform will remain the largest segment of the global commercial fleet with demand for USM increasing accordingly.”

Dave Kolber, director of aviation marketing at RESIDCO, said: “This landmark transaction further reinforces the long-standing collaboration between EirTrade and RESIDCO, built on a history of close cooperation and shared execution of complex, high value aviation asset solutions.

“RESIDCO’s aviation vertical has a broad mandate to support the aviation ecosystem through commercial aircraft and engine leasing, teardown financing, as well as full motion simulator and general aviation leasing.”

Thompson added: “This is another exciting and dynamic deal, and dismantling these young aircraft is another first in the aviation industry for EirTrade and RESIDCO together.

“Finding ways to support the aviation industry – owners, operators and maintenance providers alike – with the latest technology aircraft, alongside the maturing global fleet, is what we do and we’re always looking for opportunities to improve our inventory.”

READ MORE NEWS: EirTrade Aviation secures A320neos to boost material availability