Air Canada Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	-296	1,720	2,276	-1,700	-3,602	-4,647	Upgrade
Depreciation & Amortization	1,819	1,668	1,585	1,526	1,518	1,727	Upgrade
Other Amortization	116	116	107	106	84	108	Upgrade
Loss (Gain) From Sale of Assets	-	-	-	-	-	-18	Upgrade
Asset Writedown & Restructuring Costs	-	-	-	4	38	315	Upgrade
Loss (Gain) From Sale of Investments	-28	-17	-45	86	36	28	Upgrade
Other Operating Activities	1,114	37	-370	737	80	424	Upgrade
Change in Other Net Operating Assets	1,186	406	767	1,609	344	-290	Upgrade
Operating Cash Flow	3,911	3,930	4,320	2,368	-1,502	-2,353	Upgrade
Operating Cash Flow Growth	-7.72%	-9.03%	82.43%	-	-	-	Upgrade
Capital Expenditures	-3,181	-2,636	-1,564	-1,572	-1,073	-1,202	Upgrade
Sale of Property, Plant & Equipment	-	-	-	36	19	12	Upgrade
Investment in Securities	2,473	1,274	-245	-959	-862	-63	Upgrade
Other Investing Activities	67	-1	-18	-3	47	520	Upgrade
Investing Cash Flow	-641	-1,363	-1,827	-2,498	-1,869	-733	Upgrade
Long-Term Debt Issued	-	1,590	84	202	8,171	6,262	Upgrade
Long-Term Debt Repaid	-	-3,956	-2,452	-1,814	-4,510	-2,719	Upgrade
Net Debt Issued (Repaid)	-1,479	-2,366	-2,368	-1,612	3,661	3,543	Upgrade
Issuance of Common Stock	2	1	1	6	555	1,369	Upgrade
Repurchase of Common Stock	-1,300	-473	-	-	-	-132	Upgrade
Other Financing Activities	-3	-34	-1	-6	-205	-78	Upgrade
Financing Cash Flow	-2,780	-2,872	-2,368	-1,612	4,011	4,702	Upgrade
Foreign Exchange Rate Adjustments	7	6	-1	20	11	-48	Upgrade
Net Cash Flow	497	-299	124	-1,722	651	1,568	Upgrade
Free Cash Flow	730	1,294	2,756	796	-2,575	-3,555	Upgrade
Free Cash Flow Growth	-70.30%	-53.05%	246.23%	-	-	-	Upgrade
Free Cash Flow Margin	3.32%	5.81%	12.62%	4.81%	-40.23%	-60.95%	Upgrade
Free Cash Flow Per Share	2.24	3.44	7.33	2.22	-7.34	-12.61	Upgrade
Cash Interest Paid	609	696	858	761	531	528	Upgrade
Cash Income Tax Paid	132	50	45	67	2	8	Upgrade
Levered Free Cash Flow	323.38	-253.25	2,036	1,185	-1,202	-2,962	Upgrade
Unlevered Free Cash Flow	728.38	203.63	2,617	1,745	-744.5	-2,567	Upgrade
Change in Working Capital	1,186	406	767	1,609	344	-290	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.