How much higher would the CR of a Giant Squid be if it could fly?

[Sims]

Flying giant Squid CR. Basically a Squid that can breathe air and fly with perfect manuverability as if it were in water. (Perhaps I'll make it half Air Elemental)

Would this increase its CR by +2? I think thats about right.

[Divide by Zero]

+2 is a bit much. The Winged Creature template in Savage Species is only +1 CR, and it also includes some ability bonuses.

[Vangor]

Flying giant Squid CR. Basically a Squid that can breathe are and fly with perfect manuverability as if it were in water. (Perhaps I'll make it half Air Elemental)

Would this increase its CR by +2? I think thats about right.

Not sure I would increase the CR at all since much of the danger of the squid comes from the environment. Perhaps a +1 to CR if thinking the squid will pursue targets from sea to sky.