Icelandair Cancellation Policy (2026)
If you book a ticket through Icelandair's booking channels, you can cancel the ticketed reservation without penalty and receive a refund if the reservation is made more than 2 days prior to the scheduled flight departure and is cancelled within 24 hours after purchasing.
24-Hour Rule
Yes — free cancellation within 24 hours of booking. If you book a ticket through Icelandair's booking channels, you can cancel the ticketed reservation without penalty and receive a refund if the reservation is made more than 2 days prior to the scheduled flight departure and is cancelled within 24 hours after purchasing.
Cancellation Fees
Basic Economy: Economy Light and Economy Standard are non-refundable. Unused government/airport taxes are refundable.. Main Cabin: Economy Flex is fully refundable.. Premium: Saga Premium is non-refundable. Saga Premium Flex is fully refundable..
Refund Method
Refunds for eligible tickets or taxes are issued to the original form of payment.