Originally Posted by LHR/MEL/Europe FF

Don’t need to cancel at all! Cancellation and request for a deposit of miles can be made up to one year from the date of departure. In fact I don’t think you can actually cancel in the 24 (or is it 48?) hours before departure.

There’s no penalty or forfeiture for a ‘no show’. Just the regular $200 charge if you want your miles back.