Air Canada Financial Flexibility Index
Air Canada financial flexibility index. Air Canada (AC) has a Financial Flexibility Index of 0.07x as of March 2026. Free cash flow of CA$2.27 Billion (operating CF CA$1.80 Billion minus capex CA$477.00 Million) represents 0% of total liabilities (CA$30.37 Billion). See AC free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Financial Flexibility Index of Air Canada (2001–2025)
Financial flexibility index of Air Canada from 2001 to 2025. Historical Financial Flexibility Index trend for Air Canada across 24 annual periods. Check AC operating cash flow to net income to evaluate the quality of earnings relative to operating cash generation.
Air Canada Financial Flexibility Index by Year (2001–2025)
Air Canada financial flexibility index by year from 2001 to 2025. Year-by-year free cash flow to debt coverage for Air Canada. For the full cash flow conversion analysis, see Air Canada cash conversion from operations.
| Year | Flexibility Index | Free Cash Flow (CAD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.23x | CA$6.57 Billion | CA$3.66 Billion | CA$28.62 Billion | ▲ +0.7% |
| 2024 | 0.23x | CA$6.57 Billion | CA$3.93 Billion | CA$28.82 Billion | ▲ +13.7% |
| 2023 | 0.20x | CA$5.88 Billion | CA$4.32 Billion | CA$29.38 Billion | ▲ +57.9% |
| 2022 | 0.13x | CA$3.94 Billion | CA$2.37 Billion | CA$31.06 Billion | ▲ +892.3% |
| 2021 | -0.02x | CA$-490.00 Million | CA$-1.56 Billion | CA$30.61 Billion | ▲ +62.2% |
| 2020 | -0.04x | CA$-1.15 Billion | CA$-2.35 Billion | CA$27.20 Billion | ▼ -112.8% |
| 2019 | 0.33x | CA$7.74 Billion | CA$5.71 Billion | CA$23.36 Billion | ▼ -11.4% |
| 2018 | 0.37x | CA$5.67 Billion | CA$3.47 Billion | CA$15.16 Billion | ▲ +4.0% |
| 2017 | 0.36x | CA$5.16 Billion | CA$2.74 Billion | CA$14.36 Billion | ▼ -6.5% |
| 2016 | 0.38x | CA$5.34 Billion | CA$2.42 Billion | CA$13.89 Billion | ▲ +31.5% |
| 2015 | 0.29x | CA$3.83 Billion | CA$2.01 Billion | CA$13.09 Billion | ▲ +41.1% |
| 2014 | 0.21x | CA$2.44 Billion | CA$941.00 Million | CA$11.78 Billion | ▲ +33.1% |
| 2013 | 0.16x | CA$1.69 Billion | CA$731.00 Million | CA$10.87 Billion | ▲ +71.9% |
| 2012 | 0.09x | CA$1.10 Billion | CA$643.00 Million | CA$12.19 Billion | ▲ +53.3% |
| 2011 | 0.06x | CA$806.00 Million | CA$586.00 Million | CA$13.64 Billion | ▼ -35.7% |
| 2010 | 0.09x | CA$1.05 Billion | CA$933.00 Million | CA$11.44 Billion | ▲ +1137.9% |
| 2009 | 0.01x | CA$65.00 Million | CA$-167.00 Million | CA$8.76 Billion | ▼ -90.1% |
| 2008 | 0.08x | CA$781.00 Million | CA$-102.00 Million | CA$10.41 Billion | ▼ -76.9% |
| 2007 | 0.32x | CA$3.04 Billion | CA$429.00 Million | CA$9.37 Billion | ▲ +140.9% |
| 2006 | 0.13x | CA$1.28 Billion | CA$393.00 Million | CA$9.52 Billion | ▼ -4.6% |
| 2005 | 0.14x | CA$1.26 Billion | CA$388.00 Million | CA$8.91 Billion | ▲ +1022.0% |
| 2003 | 0.01x | CA$139.00 Million | CA$139.00 Million | CA$11.06 Billion | ▲ +228.3% |
| 2002 | -0.01x | CA$-95.00 Million | CA$-95.00 Million | CA$9.70 Billion | ▲ +90.7% |
| 2001 | -0.11x | CA$-1.07 Billion | CA$-1.07 Billion | CA$10.20 Billion | — |