As domestic commercial aircraft is stepping into commercial operation, the economic characters would become major concerns for the airlines. This paper builds an analytical model of economical efficiency for regional aircraft operation. In this paper, the causality analysis of the potential marginal benefit caused by regional aircraft was carried out. Then from the perspective of cost and benefit, a mathematical model was built, which included direct operation cost, indirect operation cost, network performance and transportation income, etc. Further, from the three dimensions of annual economic analysis, life cycle economic analysis and aircraft comprehensive evaluation, the economic metrics of regional aircraft operation were put forward, thus the general analysis model was constructed. Based on case studies, airline economic operation was analyzed in terms of revenue per passenger kilometer, cost per ton kilometer, annual revenue-cost-profit, static payback period and dynamic payback period. Finally, the optimization suggestions for regional aircraft operation were provided.