The Air Canada cancellation policy ensures passengers have options when plans unexpectedly change. Travelers can cancel any booking within 24 hours of purchase for a full refund, provided the flight departs at least seven days later. Once the 24-hour window has passed, cancellation eligibility depends on the fare type. Basic Economy tickets are usually non-refundable, while Standard, Flex, Premium Economy, and Business fares may allow cancellations with fees or travel credits. Refundable fares remain the most flexible, offering cash refunds directly. Always check the terms of your ticket before canceling to avoid penalties and manage your booking stress-free.