Most US airlines dropped change fees on standard economy and above, so you pay only any fare difference — but basic economy is usually non-changeable and non-refundable. Cancelling a non-refundable fare typically gives a travel credit, not cash. Check your fare rules before booking.
Change and cancel rights are set by your fare class, not the airline in general:
Standard economy and up (most US carriers): no change fee; you pay the difference if the new flight costs more, or get the difference as credit if it’s cheaper. Cancelling usually gives a travel credit valid 12 months.
Basic economy: normally no changes and no refunds at all after the 24-hour window. This is the main catch of the cheapest fares.
Refundable fares: cost more but let you cancel for cash — worth it only if plans are genuinely uncertain.
Always free: cancelling within 24 hours of booking (US, booked 7+ days out), and rebooking when the airline makes a significant schedule change.
Before booking anything cheap, open the fare rules and read the change/cancel terms — it’s the difference between a minor annoyance and a lost ticket.
Related questions
What is the 24-hour flight cancellation rule?
In the US, airlines must let you cancel for a full refund within 24 hours of booking, as long as you booked at least 7 days before departure and directly with the airline. It applies to every fare class, including basic economy. Outside the US it depends on the airline. Full answer →
What is basic economy, and should I book it?
Basic economy is a stripped-down fare: no seat selection, no changes, often no carry-on or checked bag, and last boarding group. Fine for a short trip with a backpack; usually a poor deal once you add a bag and a seat. Full answer →
My flight was cancelled — what are my rights?
Everywhere: a refund or rebooking, your choice. In the EU/UK: also meals, hotel if overnight, and up to €600 compensation unless the cause was extraordinary. In the US: a cash refund is required for cancellations; compensation is not, though some airlines offer it voluntarily. Full answer →
Airline, airport and government rules change without notice. Treat this as a starting point and confirm with the airline or authority for your specific trip. Request a correction if something is out of date.