According to Icelandairs Cancellation Policy, passengers have a 24-hour window to cancel their flights without incurring any cancellation fees, provided that the booking was made at least 24 hours prior to the scheduled departure time. This means that if you need to cancel your Icelandair flight, you must do so within 24 hours of booking if you want to avoid any charges.

If you cancel your Icelandair flight outside of the 24-hour window, you may be subject to cancellation fees depending on the type of ticket you purchased and the fare rules associated with it. It’s always best to review your ticket’s terms and conditions before canceling to ensure that you understand any applicable fees or penalties.

In addition, if your Icelandair flight is canceled by the airline due to unforeseen circumstances or events beyond their control, such as weather or mechanical issues, you may be entitled to a refund or a rebooking option without any additional charges.