Air Canada (AC) — 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). Check AC total capital reinvestment ratio to assess the company's total reinvestment commitment from operating cash flow.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Air Canada Financial Flexibility Index (2001–2025)
Historical Financial Flexibility Index trend for Air Canada across 24 annual periods. For the full cash flow conversion analysis, see AC cash flow metrics.
Annual Financial Flexibility Index for Air Canada (2001–2025)
Year-by-year free cash flow to debt coverage for Air Canada. Explore AC operating cash flow to total debt to assess how comfortably operating cash covers total debt obligations.
| 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 | — |