Icelandair Cancellation Policy allows travelers to cancel their flights based on the fare type purchased. Passengers booking directly through Icelandair can cancel within 24 hours for a full refund. Refund eligibility after that depends on whether the ticket is Economy Light, Economy Flex, or Saga Premium. Flex and Premium fares offer better flexibility and partial or full refunds. Non-refundable tickets may be eligible for travel credits. Cancellations can be made online or via customer service. Icelandair prioritizes transparency and flexibility to support changing travel plans. Always review fare conditions before booking or canceling to avoid unexpected fees or restrictions.