I would be interested in seeing the rule concerning same-day standby. Is it a policy, a procedure or an actual rule. Here's what I see (and have been told) when buying these fares:

"Other Restrictions: NONREF/PRE FLT/CHG FEE/AFT FLT NO VALUE/NON-TRANSFERABLE"

The words "after flight no value" don't seem very ambiguous to me. Is the flyer who misses the flight for which the ticket was issued (for reasons that have nothing to do with the carrier) a "revenue passenger" at that point and for subsequent flights that day? (To me, "no value" means exactly that.) Alternatively, is the passenger simply being accommodated under an administrative policy/procedure that is more humane than the actual fare rule?