Originally Posted by
B747-437B
This is not true. The cancellation fees are usually in addition to the forfeited fare in case of nonrefundable tickets. Indeed, I have often seen people pay higher change/cancel fees than the value of the ticket being changed/cancelled. So the OP would actually pay $50 (forfeited fare) PLUS an additional $75 (cancel fee).
Bottom line is that the right thing to do is pay whatever fee for cancellation and then only buy a new ticket. Anything else is tantamount to cheating the airline out of the fees you agreed to when you bought the ticket.
I think you are wrong on this one.
Virgin America contract of carriage:
When a flight is cancelled, the cancellation fee will be deducted from the total balance and then the remaining balance will be credited to a travel credit valid within 12 months from the date of cancellation.