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The End of Life phase of Aircraft is a relatively complex phase in life cycle of this product. The retired Aircrafts need to be parked in certain conditions. Some valuable parts are disassembled and the rest of them are dismantled. Materials are separated and upgraded, waste is burned or deserted and toxic materials restrained or incinerated. All of these activities should be performed in an ecologically right manner; however, collectively produced added values for all stakeholders need to be considered. This paper aims to provide a conceptual framework for value chain analysis of Aircraft recycling process in the context of sustainable development. The value chain related to recycling aircraft at the end of life was chosen to generate an in-depth analysis of the value chain, considering environmental and socio-economic concerns. The value chain framework for recycling of fleets is identified. The key processes with environmental and social impacts are determined.