Beyond Carbon: Multi-Dimensional Sustainability Performance Metrics for India’s Aviation Industry

The aviation sector is a key driver of connectivity, economic growth, and national integration, yet sustainability measurement remains narrowly focused on carbon emissions. This study proposes a comprehensive Aviation Sustainability Performance Index (ASPI‑India) spanning four pillars: Environmental Stewardship, Social Responsibility, Governance Maturity, and Economic Resilience. We design 25 measurable indicators drawn from regulatory filings, commercial flight databases, geospatial tracking, and targeted surveys. Data sources include Directorate General of Civil Aviation (DGCA) safety audits, Airport Authority of India (AAI) operational statistics, ADS‑B flight path data, and passenger satisfaction surveys from 2010–2024. We use fixed‑effects panel models to link ASPI‑India to operational and financial outcomes such as load factor stability, cost per available seat kilometre (CASK), and credit rating resilience. Quasi‑experimental designs exploit policy shocks such as UDAN scheme rollouts, SAF blending mandates, and runway/ATC upgrades through difference‑in‑differences estimation. Factor analysis validates the four‑pillar structure, and robustness checks compare entropy, PCA, and equal weighting. Results show that a one‑standard‑deviation increase in ASPI‑India is associated with improved load factor stability, higher ancillary revenue share, and better credit terms, especially for carriers with diversified route networks. The framework offers actionable insights for airlines, regulators, and investors seeking to embed sustainability into aviation management.