It's starting to become more common to part out aircraft earlier than they might have done previously. However i think this is the youngest A330 to be scrapped.

Various reasons for this but mainly due to low lease rates currently available on A330-200s (like this one) due to the economy - combined with strong demand for spare parts - means the owner ( Malc Aviation in Bahrain - a leasing company ) can make more money selling off the valuable engines and spare parts (such as APU / Landing Gear / Avionics) than leasing it for a few hundred thousand per month.

We've seen similar things happen to a few ex-easyjet 737-700s being parted out rather than being sold.

For those of you interested check out what a company called Air Salvage has been doing at Kemble Airfield in Gloucestershire, UK:

http://www.flickr.com/groups/1130853@N24/pool/

Who'd have thought you'd have Cathay Pacific 747s in Kemble!