By Tim Hepher and Allison Lampert

CASTELLON DE LA PLANA, Spain (Reuters) -At Castellon airport in eastern Spain, workers in hazmat suits wriggle through hatches of a nearly new Airbus jet, stripping out parts as if gutting a mechanical whale. Once a semi-deserted airport, Castellon has become a graveyard for aircraft caught in a global engine crisis.

Despite booming demand for planes, a severe shortage of next-generation fuel-efficient engines has flipped market economics: in some cases, the engines are now worth more than the aircraft they power when offered as spares.

The imbalance has led to more than a dozen Airbus jets being dismantled for parts after only a few years in service, with dozens more awaiting their fate, according to industry insiders.

AIRBUS JET SCRAPPED AFTER SIX YE

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