Air Canada cancellation policy allows refunds or credits based on fare type and timing. Standard fares can be canceled within 24 hours of booking for a full refund. After 24 hours, cancellation fees may apply, with the remainder as a travel credit. Flexible fares often allow free changes or cancellations. Refundability and fees depend on the specific ticket conditions. Non-refundable tickets generally offer credits instead of refunds. Always check specific fare rules for detailed terms.