Full electric aircraft with zero CO2 emissions during operations are a promising pathway towards achieving the Fly Net Zero by 2050 goal proposed by the International Air Transport Association (IATA). In this context, Urban Air Mobility (UAM) expects to offer an environmentally friendly alternative through electric Vertical Takeoff and Landing (eVTOL) aircraft. While eVTOLs produce no greenhouse gas emissions, the comprehensive eco‐efficiency of UAM goes beyond the flight phase. This paper delves into evaluating UAM operation's environmental and social impacts, considering the urban space, public perception, operational profiles, and power consumption. Employing causal loop analysis, the study uncovers the relationships that add value or increase impact, assessing UAM passenger transportation's eco‐efficiency. Moreover, the Unified Architecture Framework is used to model the UAM ecosystem and to propose strategies to balance values and impacts in achieving eco‐efficiency. By shedding light on the sustainability viewpoint, this study emphasizes the importance of holistically understanding UAM's operational impact and empowering users to make eco‐efficient choices when opting for UAM transportation. Finally, strategies to provide sustainability awareness to the user are discussed in the Mobility‐as‐a‐System (MaaS) context.