This experimental study presents an analysis of the air–water flow in rectangular free-falling jets. The measurements were obtained downstream of a 1.05 m wide sharp-crested weir. The properties of the air–water flow were registered in several cross-sections of the nappe. A conductivity phase detection probe was employed, sampling at 20 kHz. Three different specific flows were considered, with energy head over the crest of 0.080, 0.109 and 0.131 m to avoid scale effects. To analyze the flow properties, air–water parameters during the fall, such as the phase change spatial distribution, air–water phase change of frequency, Sauter mean diameter, bubble chord length, turbulent intensities and spectral analyses, were studied. The jet thickness behaviors (inner jet core and free surface) were also analyzed in the falling jet. The jet thickness related to a void fraction of 90% seems to be similar to the theoretical proposal obtained by Castillo et al. (2015), while the jet thickness related to a void fraction of 10% seems to be similar to the jet thickness due to gravitational effects. The results show relative differences in the behavior of the upper and lower sides of the nappe. The experimental data allow us to improve on and complement previous research.