Credit for a flight not taken
Hey all,
So I've got about $700 on a flight that I had to cancel. The entire ticket was $780 something or other.
I know the most common and usual method of using this again is to book a new flight, give them that 6 digit reference and my 780 - change fee will be credited towards that flight. However if I am correct, if the new flight is $500, the excess is lost correct?
Another question, can this be used for anything else? Upgrade fare on an existing flight?
Is this recoup-able in cash if I buy a latitude ticket, then just refund it, or is there some barrier due to original form of payment stuff?
Thank you!