Air Canada (AC) — Free Cash Flow Generation Index
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). See working capital to net assets of Air Canada to evaluate short-term liquidity relative to the company's equity base.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Air Canada Free Cash Flow Generation Index (2003–2025)
Historical FCF Generation Index trend for Air Canada across 18 annual periods. Explore AC operating cash to total liabilities to assess how comfortably operating cash covers total debt obligations.
Annual Free Cash Flow Generation for Air Canada (2003–2025)
Year-by-year Free Cash Flow Generation Index for Air Canada. For the full company profile including market capitalisation, see Air Canada (AC) market capitalisation.
| 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 | — |