Originally Posted by RMAnalystATL

Just to give some insight into refundable fares on the domestic US side, it does not go by the booking class but rather the fare basis code. Many people assume that just because it is a B fare or even a Y fare that it is refundable. Domestically, a refundable fare will be indicated in the fare basis code as such:

On eight character fare basis codes (most domestic ones are) the 7th character will indicate if it is refundable or not. An R, X, Y or Z in this place would indicate that the fare is refundable. An N, U, V or O would indicate non-refundable. Here are a few examples:

KA00A0RA = Refundable
KA00A0NA = Non-refundable

HA07UPXQ = Refundable
HA07UPVQ = Non-refundable

Then there are the full fares like Y, F, Y0 and F0 which are always refundable unless followed by an N or have an eight character fare basis code.

Y0 = Refundable
Y0N = Non-refundable
YA00A0RQ = Refundable
YA00A0NQ = Non-refundable

So there really is no way to simply say that any fare class is going to be refundable. In general, the likelihood of a Y, B or M fare being refundable is much higher than a H, Q, K, L, U, T or E but there definitely are Y and B fares that are non-refundable and lower fare classes that are refundable. This is true for domestic pricing, international has a different construction of fare basis codes.

It is always best to read the fare rules though, they will spell out refund and change fee policies! Hope that helps!