Originally Posted by Visconti

Discounted airfare for advance purchases is, in a sense, an options contract. The buyer of has the right to realize the ticket's potential full future value, $15K CX RT in this case, on the dates of travel; while the airline, CX in this case, is the seller of this contract and obligated to deliver it on demand at a predetermined future date (expiration). For an airline ticket, the cancellation fee & lost of interest on excess is the premium. That's it. The notion that any futures buyer may reason to the seller to refund the premium based on the bet going against him/her is nonsensical.