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The Icelandair Cancellation Policy provides travelers with flexibility and peace of mind. If you cancel your booking within 24 hours of purchase, you may qualify for a full refund, provided the departure is at least seven days away. Refund terms vary depending on the ticket type—refundable fares allow complete reimbursement, while non-refundable fares may offer travel credits. Passengers can cancel their flights online through the Icelandair website or by contacting customer service. Understanding the Cancellation Policy ensures you avoid unexpected fees, manage your bookings effectively, and adjust your travel plans with ease when necessary.