Air Canada (AC) — Free Cash Flow Generation Index
Latest as of March 2026:
0.73x
Air Canada (AC) has a Free Cash Flow Generation Index of 0.73x as of March 2026. Free cash flow of CA$1.32 Billion represents 1% of operating cash flow (CA$1.80 Billion). Explore how much does Air Canada reinvest in capital to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
0.73x
Free Cash Flow / Operating CF
Free Cash Flow
CA$1.32 Billion
CAD
Operating Cash Flow
CA$1.80 Billion
CAD
Capital Expenditures
CA$477.00 Million
CAD
Air Canada Free Cash Flow Generation Index (2003–2025)
Historical FCF Generation Index trend for Air Canada across 18 annual periods. For the full cash flow conversion analysis, see AC operating cash flow.
Annual Free Cash Flow Generation for Air Canada (2003–2025)
Year-by-year Free Cash Flow Generation Index for Air Canada. Check Air Canada (AC) reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (CAD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.20x | CA$747.00 Million | CA$3.66 Billion | CA$2.91 Billion | ▼ -38.0% |
| 2024 | 0.33x | CA$1.29 Billion | CA$3.93 Billion | CA$2.64 Billion | ▼ -48.4% |
| 2023 | 0.64x | CA$2.76 Billion | CA$4.32 Billion | CA$1.56 Billion | ▲ +89.8% |
| 2022 | 0.34x | CA$796.00 Million | CA$2.37 Billion | CA$1.57 Billion | ▼ -47.9% |
| 2019 | 0.65x | CA$3.69 Billion | CA$5.71 Billion | CA$2.02 Billion | ▲ +116.6% |
| 2018 | 0.30x | CA$1.03 Billion | CA$3.47 Billion | CA$2.20 Billion | ▲ +158.2% |
| 2017 | 0.12x | CA$316.00 Million | CA$2.74 Billion | CA$2.42 Billion | ▲ +155.9% |
| 2016 | -0.21x | CA$-500.00 Million | CA$2.42 Billion | CA$2.92 Billion | ▼ -310.9% |
| 2015 | 0.10x | CA$197.00 Million | CA$2.01 Billion | CA$1.81 Billion | ▲ +116.5% |
| 2014 | -0.60x | CA$-560.00 Million | CA$941.00 Million | CA$1.50 Billion | ▼ -88.3% |
| 2013 | -0.32x | CA$-231.00 Million | CA$731.00 Million | CA$962.00 Million | ▼ -202.1% |
| 2012 | 0.31x | CA$199.00 Million | CA$643.00 Million | CA$462.00 Million | ▼ -50.4% |
| 2011 | 0.62x | CA$366.00 Million | CA$586.00 Million | CA$220.00 Million | ▼ -21.9% |
| 2010 | 0.80x | CA$746.00 Million | CA$933.00 Million | CA$118.00 Million | ▲ +115.8% |
| 2007 | -5.07x | CA$-2.18 Billion | CA$429.00 Million | CA$2.61 Billion | ▼ -302.9% |
| 2006 | -1.26x | CA$-495.00 Million | CA$393.00 Million | CA$888.00 Million | ▼ -1.8% |
| 2005 | -1.24x | CA$-480.00 Million | CA$388.00 Million | CA$868.00 Million | ▼ -223.7% |
| 2003 | 1.00x | CA$139.00 Million | CA$139.00 Million | CA$0.00 | — |
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).