Alaska Airlines offers a flexible cancellation policy, allowing passengers to cancel flights without hefty fees depending on the ticket type. For refundable tickets, you can receive a full refund to your original payment method. For non-refundable fares, you can cancel and receive travel credits for future use, valid for up to 1 year. Alaska also offers free cancellations within 24 hours of booking, as long as the flight is at least 2 days away. If you need to change your flight, there may be change fees, but you can rebook to another date or destination. Always check specific fare conditions before booking.