Hazard identification is very important for safety management system (SMS) implementation process. In aviation industry practice, hazards may be identified through a data-driven (quantitative) methodology or qualitative process such as discussions, interviews and brainstorming and can be grouped into three generic families: natural hazards, technical hazards and economic hazards. Since the scope of hazards in aviation is wide, this paper develops a quantitative methodology for assessing aviation hazards during the aircraft usual daily operations. The methodology is developed by estimating all related hazardous factors by their occurrence placement, nature and specific components related to timing, sequencing and mutual dependency. The use of the proposed methodology allows investigation of aviation safety factors and flexible assessment of aviation hazards. The results demonstrate that the proposed methodology has the potential of becoming very useful in practice facing further generalization of hazard identification process.