Hello chaps,

I am planning a trip from Houston George Bush airport to London Heathrow and back in 10 days. Getting a round trip fare of $1700 in WT+ outbound, WT inbound....other airlines seem to be priced similarly.

The BA fare condition states:
Changes
Time/date changes permitted at any time before each flight departure for a change fee of $ 275 or an upgrade fee of $ 275 plus any difference in fare. Changes subject to availability. Fees apply per ticket
If you want to cancel your flight
If the booking is cancelled before your first flight, a cancellation fee of $ 275 per ticket applies

Can you please tell me whether the refund (ticket price less $275) is actual money that is refunded (assuming I buy the ticket with money, not miles) or whether it is airline credit?

Thanks,
Andrew