Air Canada (AC) — Cash Flow-to-Debt Ratio
Air Canada (AC) has a Cash Flow-to-Debt Ratio of 0.06x as of March 2026, meaning its operating cash flow of CA$1.80 Billion could theoretically repay 0% of its total liabilities (CA$30.37 Billion) in one year. See how financially flexible is Air Canada to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Air Canada Cash Flow-to-Debt Ratio (2001–2025)
Historical debt coverage capacity for Air Canada across 24 annual periods. For the full cash flow conversion analysis, see cash flow conversion of Air Canada.
Annual Cash Flow-to-Debt Ratio for Air Canada (2001–2025)
Year-by-year debt coverage analysis for Air Canada. Check Air Canada earnings quality ratio to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (CAD) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | 0.13x | CA$3.66 Billion | CA$28.62 Billion | ▼ -6.3% |
| 2024 | 0.14x | CA$3.93 Billion | CA$28.82 Billion | ▼ -7.3% |
| 2023 | 0.15x | CA$4.32 Billion | CA$29.38 Billion | ▲ +92.9% |
| 2022 | 0.08x | CA$2.37 Billion | CA$31.06 Billion | ▲ +249.3% |
| 2021 | -0.05x | CA$-1.56 Billion | CA$30.61 Billion | ▲ +41.0% |
| 2020 | -0.09x | CA$-2.35 Billion | CA$27.20 Billion | ▼ -135.4% |
| 2019 | 0.24x | CA$5.71 Billion | CA$23.36 Billion | ▲ +6.8% |
| 2018 | 0.23x | CA$3.47 Billion | CA$15.16 Billion | ▲ +20.0% |
| 2017 | 0.19x | CA$2.74 Billion | CA$14.36 Billion | ▲ +9.4% |
| 2016 | 0.17x | CA$2.42 Billion | CA$13.89 Billion | ▲ +13.3% |
| 2015 | 0.15x | CA$2.01 Billion | CA$13.09 Billion | ▲ +92.5% |
| 2014 | 0.08x | CA$941.00 Million | CA$11.78 Billion | ▲ +18.7% |
| 2013 | 0.07x | CA$731.00 Million | CA$10.87 Billion | ▲ +27.6% |
| 2012 | 0.05x | CA$643.00 Million | CA$12.19 Billion | ▲ +22.7% |
| 2011 | 0.04x | CA$586.00 Million | CA$13.64 Billion | ▼ -47.3% |
| 2010 | 0.08x | CA$933.00 Million | CA$11.44 Billion | ▲ +527.7% |
| 2009 | -0.02x | CA$-167.00 Million | CA$8.76 Billion | ▼ -94.6% |
| 2008 | -0.01x | CA$-102.00 Million | CA$10.41 Billion | ▼ -121.4% |
| 2007 | 0.05x | CA$429.00 Million | CA$9.37 Billion | ▲ +11.0% |
| 2006 | 0.04x | CA$393.00 Million | CA$9.52 Billion | ▼ -5.2% |
| 2005 | 0.04x | CA$388.00 Million | CA$8.91 Billion | ▲ +246.6% |
| 2003 | 0.01x | CA$139.00 Million | CA$11.06 Billion | ▲ +228.3% |
| 2002 | -0.01x | CA$-95.00 Million | CA$9.70 Billion | ▲ +90.7% |
| 2001 | -0.11x | CA$-1.07 Billion | CA$10.20 Billion | — |