In 2026, the majority of "Economy" and "Basic Economy" tickets remain non-refundable by default, meaning if you cancel for a personal reason, you will not get your money back in the original form of payment. However, consumer protection laws have improved: in many regions like India and the US, airlines now offer a 24-to-48-hour "grace period" where you can cancel any booking for a full refund regardless of the fare type. Outside of that window, a non-refundable ticket usually only yields a "Travel Credit" or "Flight Voucher" minus a significant cancellation fee. To get a true refund, you must purchase a "Flexible" or "Refundable" fare, which typically costs 30% to 50% more upfront. If the airline cancels the flight or makes a significant schedule change, you are legally entitled to a full cash refund even on a non-refundable ticket.