In 2026, it is generally cheaper to change your flight than to cancel and rebook, thanks to the permanent elimination of change fees on most non-basic economy tickets by major airlines. When you change a flight, you only pay the fare difference. However, if you cancel a non-refundable ticket, you often receive a "Future Flight Credit" that might expire or be subject to a cancellation fee if you want a cash refund. The primary exception is the "24-hour rule": if you booked within the last 24 hours (and the flight is over 7 days away), you can cancel for a full refund and rebook at a lower price for free. Additionally, keep an eye out for "schedule changes" initiated by the airline; if your flight time shifts by more than 2 hours, you are legally entitled to a free change or a full cash refund, which is always the most cost-effective path.