Air Transat cancellation fees are applied on all ticket cancellations made by passengers. The amount of the fee varies depending on the fare type and the time frame within which the cancellation is made. For example, if a passenger cancels a flight ticket within 24 hours of booking it, no cancellation fees will be levied. However, if a passenger cancels any time thereafter, a penalty fee ranging from $50 to $500 may be incurred depending on factors such as the duration of advance notice given and the fare type purchased. These cancellation fees are in place to cover administrative costs and losses incurred by Air Transat due to cancelled bookings which impact operational planning and revenue streams. It is prudent to check all terms and conditions related to Air Transat’s cancellation policies before confirming bookings in order to avoid last-minute surprises with regards to potential additional charges should circumstances change.