Air Canada (TSX:AC)

Air Canada Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	22,372	22,255	21,833	16,556	6,400
Revenue Growth (YoY)	0.53%	1.93%	31.87%	158.69%	9.72%
Cost of Revenue	19,442	19,193	17,851	15,099	7,795
Gross Profit	2,930	3,062	3,982	1,457	-1,395
Depreciation & Amortization Expenses	2,012	1,799	1,703	1,644	1,654
Total Operating Expenses	2,012	1,799	1,703	1,644	1,654
Operating Income	918	1,263	2,279	-187	-3,049
Interest Income	222	431	416	168	72
Interest Expense	-606	-731	-930	-896	-740
Other Non-Operating Income (Expense)	255	-448	447	-609	-264
Total Non-Operating Income (Expense)	-129	-748	-67	-1,337	-932
Pretax Income	789	515	2,212	-1,524	-3,981
Provision for Income Taxes	145	-1,205	-64	176	-379
Net Income	644	1,720	2,276	-1,700	-3,602
Net Income to Common	644	1,720	2,276	-1,700	-3,602
Net Income Growth	-62.56%	-24.43%	-	-	-
Shares Outstanding (Basic)	311	358	358	358	351
Shares Outstanding (Diluted)	320	376	376	358	351
Shares Change (YoY)	-14.89%	-	5.03%	1.99%	24.47%
EPS (Basic)	2.07	4.81	6.35	-4.75	-10.25
EPS (Diluted)	1.86	4.72	5.96	-4.75	-10.25
EPS Growth	-60.59%	-20.80%	-	-	-
Shares Outstanding	294.55	339.84	358.47	358.36	357.84
Free Cash Flow	747	1,294	2,756	796	-2,575
Free Cash Flow Growth	-42.27%	-53.05%	246.23%	-	-
Free Cash Flow Per Share	2.33	3.44	7.33	2.22	-7.34
Gross Margin	13.10%	13.76%	18.24%	8.80%	-21.80%
Operating Margin	4.10%	5.68%	10.44%	-1.13%	-47.64%
Profit Margin	2.88%	7.73%	10.42%	-10.27%	-56.28%
FCF Margin	3.34%	5.81%	12.62%	4.81%	-40.23%
EBITDA	2,930	3,062	3,982	1,457	-1,433
EBITDA Margin	13.10%	13.76%	18.24%	8.80%	-22.39%
EBIT	918	1,263	2,279	-187	-3,049
EBIT Margin	4.10%	5.68%	10.44%	-1.13%	-47.64%
Effective Tax Rate	18.38%	-233.98%	-2.89%	-11.55%	9.52%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.