24 Hour Flight Cancellations: As of 4/07/2015.
Did you know: In the United States if you book a non-refundable airfare at least 7 days in advance, you are entitled to cancel your reservation within 24 hours of booking. According to U.S. Department of Transportation regulations, you are entitled to this WITHOUT paying a cancellation fee. (DOT site)
– United States based airlines.
– Airlines not necessarily applicable for 3rd party websites such as Orbitz, Expedia etc.
Why you need to know this: if you ever book a fare for which you then change your mind about, you can cancel without a penalty. This is great for those who usually hesitate to book a sale fare.
It is also good to know in the event in which you book a flight that then drops in price within 24 hours. For example lets say at 3pm you book a flight for $300, but the next morning it drops to $200. As long as it is within 24 hours, and you booked it at least 7 days in advance, you can cancel your original ticket and rebook the less expensive option without a fee.
A few airlines have extended their cancellation policies beyond the U.S Department of Transportation requirements.
However, it is always good to know what you are entitled to all across the board.
Hope you find this useful.