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Cancelling a Flight
Many airlines operate a 100% cancellation fee policy. if you book but can no longer travel, you won't get any of your money back. You could submit a claim for refund of the tax portion of the price you paid but this too comes with issues. If you lose all of what you have paid anyway, there is no incentive to tell the airline you'll not make the flight and so most people just don't turn up at the airport. (No-shows)
Transferring/Name Changing
The more traditional airlines have so many fare classes and types it can be difficult to tell if a transfer would be allowed or not. The newer Low Cost carrier airlines each permit the passenger names to be changed on their flights.
Each airline charges a set transfer fee, e.g. £45 with Ryanair and £15 with Easyjet, plus the difference in what was originally paid for the seat, compared with what it is selling for at the time the Name change is done. lets say the one way easyjet flight was bought for £75 but is now selling for £100, the cost to change the name would be £15 plus the £25 difference in fare price. The difference must be charged to ensure Travel Agents and individuals don't buy up all the cheap seats and sell them for a profit later on.
In some instances the difference in fare may make it uneconomical to transfer the booking to someone else. this fee should be considered by all sellers before advertising their flight seats.
The fees for transferring a passenger's name on a flight ticket very greatly between airlines. You can check specific cancellation and name change fees for each Airline by clicking on the Airline you want to look at.