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More ex-Spirit Airlines Airbus A320neos are entering the part-out market following the purchase of three units by Dublin-based Killick Aerospace.
Speaking to Aviation Week recently, Ryanair Group CEO Michael O’Leary said lessors had told him they would be mostly stripping the Pratt & Whitney geared turbofan (GTF) engines from the 40 or so A320neos returned from Spirit—and put them into the spare engine market.
This move aims to capitalize on the ongoing shortages of GTF engines to cover for mandated inspections and hospital visits, which has pushed up lease rates so high that it can be more profitable to rent out the engines rather than conduct the airframe maintenance and cabin renovation that might be needed for onward placement of the entire aircraft.
All of which suggests that Killick’s purchase may be the first of several similar deals in the aftermarket over the next few months. The company noted that one of the three aircraft (Serial No. 11152) will be the youngest A320neo inducted for disassembly to date.
Killick provides aircraft and engine used serviceable material (USM) for Boeing and Airbus aircraft, although in recent years it expanded its business to include the distribution of nitrogen generation system components and other critical equipment manufactured by Honeywell for Boeing aircraft types.
In late 2024, Japanese conglomerate Itochu diversified its commercial aviation business with the acquisition of Killick.
In doing so, Itochu became the latest lessor to add aftermarket capabilities to its asset management platform. It noted that the Killick purchase fitted its strategy of identifying and investing into “downstream” profit opportunities.
“By creating synergies between ITOCHU’s capabilities and Killick’s aftermarket services, the partnership will deliver high-quality, customer-focused solutions that meet the evolving needs of the aviation industry,” stated the Japanese company.
Months later, Itochu launched another Irish subsidiary, IC Aero, to expand its aircraft leasing business and create a full lifecycle value chain by integrating Killick to provide aircraft end-of-life and retirement services.
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