Air Canada's cancellation policy can vary depending on the type of ticket you've purchased, the fare class, and any additional services or features you've added to your reservation. Here are some general guidelines for Air Canada's cancellation policy, but please note that policies can change, so it's essential to check the most up-to-date information on their official website or contact Air Canada   directly for specific details:

• 24-Hour Risk-Free Cancellation: Air Canada Cancellation Policy

•  typically offers a 24-hour risk-free cancellation period for most of its tickets. This means that if you book a ticket and need to cancel it within 24 hours of purchase, you can do so without incurring any cancellation fees, regardless of the fare class.

• Refundable vs. Non-Refundable Tickets: Air Canada offers both refundable and non-refundable ticket options. Refundable tickets are more flexible and allow you to cancel and receive a refund (or credit) even after the 24-hour window. Non-refundable tickets are usually cheaper but have stricter cancellation policies.

• Economy Basic Fare: If you've purchased an Economy Basic fare, it is typically non-refundable, and changes or cancellations may not be allowed, or they may come with significant fees.

• Change and Cancellation Fees: For non-refundable tickets in other fare classes, changes and cancellations usually come with fees. The amount of these fees can vary based on factors such as the fare class, destination, and how far in advance you make the change or cancellation.

• Travel Insurance: If you have purchased travel insurance, the policy terms may affect your ability to cancel and receive a refund or credit. Be sure to review the terms and conditions of your travel insurance policy.

• Loyalty Program: If you are a member of Air Canada's Aeroplan loyalty program or have elite status, you may have more flexibility or reduced fees when it comes to changes or cancellations, depending on your membership level.

• COVID-19 Flexibility: During the COVID-19 pandemic, Air Canada, like many other airlines, introduced more flexible policies to accommodate changing travel plans. These policies may have included waivers for change fees and extended cancellation options.

Please keep in mind that Air Canada's policies and fees can change over time, and there may have been updates or changes since my last knowledge update in September 2021. It's crucial to check the specific terms and conditions of your ticket and review Air Canada's official website or contact their customer service for the most current information regarding cancellations and refunds. Additionally, consider any travel restrictions or policies that may be in place due to unforeseen events, as these can impact cancellation options as well.