Air Canada reported Q4 2025 net profit of $296 million on revenue of $5.8 billion (up 6.8% YoY), while full-year operating revenue reached a record $22.4 billion. The carrier generated $3.7 billion of operating cash flow in 2025 and finished the year with roughly $7.5 billion of liquidity.
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Briefing
Air Canada delivered Q4 net income of $296 million and record FY operating revenue of $22.4 billion, with $3.7 billion in operating cash flow and $747 million in free cash flow — concrete metrics of 2025 earnings and cash generation.
The results reinforce broader industry momentum behind IATAs recent profit outlook and sit alongside other major carriers strong 2025 performances, providing context for competitive and market-share moves [source:01945727-00c5-4c36-8603-067c70e22c4d] [source:5a717d71-6009-45d8-8ff8-40491d5691ac].
Ending the year with approximately $7.5 billion of total liquidity is a key balance-sheet indicator for assessing Air Canadas near-term flexibility on fleet, financing and network decisions; compare with contemporaneous lessor and carrier results for sector-wide capital capacity [source:d9cc7cee-db19-45f3-96d9-19b89f587b1b].
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Air Canada Posts Record Q4 2025 Results, Eyes Strong 2026 Growth • Aviation Source
Air Canada Cargo 2025 revenues up 4% • Air Cargo News
