As of 2026, American Airlines follows a tiered cancellation policy based on the type of ticket purchased. For Basic Economy tickets, cancellations are generally not allowed, and the value of the ticket is forfeited unless cancelled within the 24-hour "grace period" after booking (provided the flight is at least two days away). For Non-Refundable (Main Cabin, Business, First) tickets, you can cancel your flight and receive a "Flight Credit" for the full value of the fare, minus any applicable change fees, which must be used within one year of the original issue date. Refundable tickets allow for a full return of funds to the original payment method at any time before departure. A critical 2026 update is that if American Airlines cancels your flight or makes a significant schedule change (typically defined as more than 4 hours), you are legally entitled to a full cash refund regardless of your ticket type. All cancellations must be processed before the flight’s scheduled departure to avoid being marked as a "no-show," which typically voids the entire value of the ticket.