Find out how freeing the   Air canada cancellation policy is! Make use of our useful alternatives to be flexible. Refundable tickets allow for full refunds within 24 hours after booking while non refundable tickets can be canceled for a cost and the remaining amount retained as credit.The kind of fare and the destination decide the fees.Modifications could be expensive and reliant on availability. With refundable fares, cancellations are free of charge and result in a complete refund.