• Air Canada average return on tangible equity for 2023 was -23.03, a 147.2% increase from 2022.
• Air Canada average return on tangible equity for 2022 was 48.79, a 62.86% decline from 2021.
• Air Canada average return on tangible equity for 2021 was 131.37, a 34.56% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.