LATAM Airlines' cancellation policy varies based on ticket type, purchase location, and timing. Here's a detailed overview:

24-Hour Cancellation Policy
LATAM allows passengers to cancel their tickets within 24 hours of booking for a full refund, provided the ticket was purchased at least 7 days before the scheduled departure. This applies to tickets purchased directly through LATAM's official channels in the United States, Brazil, and Colombia. To initiate the cancellation, passengers can visit the "My Trips" section on LATAM's website or contact customer service.

Refundable Tickets
Refundable tickets offer the flexibility to cancel at any time before departure and receive a full refund. These tickets are typically more expensive but provide peace of mind for travelers who anticipate potential changes in their plans.

Non-Refundable Tickets
For non-refundable tickets, the refund policy depends on the fare conditions. In many cases, LATAM does not provide a cash refund for cancellations. Instead, passengers may receive a travel credit or voucher for future use. The value of the credit is often equal to the fare paid minus any applicable cancellation fees. It's important to note that promotional fares and certain discounted tickets may have more restrictive cancellation policies and may not be eligible for refunds or credits.

Flight Cancellations by LATAM
If LATAM cancels a flight or makes significant changes to the schedule, passengers are entitled to a full refund, regardless of the ticket type. In such cases, LATAM typically offers the option to rebook on an alternative flight at no additional cost or to receive a refund to the original form of payment.

Cancellation Fees
LATAM may impose cancellation fees on certain tickets, especially for non-refundable fares. The amount of the fee can vary depending on factors such as the route, fare class, and timing of the cancellation. It's advisable to review the specific fare conditions at the time of booking to understand any potential fees.

Refund Processing Time
Refunds are generally processed within 7 to 20 business days, depending on the payment method and the country of purchase. Credit card refunds are typically quicker, while refunds for cash or check payments may take longer. Passengers can check the status of their refund through the "My Trips" section on LATAM's website or by contacting customer service.

How to Cancel or Request a Refund
To cancel a flight or request a refund, passengers can visit the "My Trips" section on LATAM's website, use the mobile app, or contact customer service directly. If the ticket was purchased through a travel agency or third-party website, passengers should reach out to them for assistance with cancellations and refunds.

In summary, LATAM Airlines offers a 24-hour cancellation policy for tickets purchased directly through their official channels in the United States, Brazil, and Colombia. Refundable tickets provide flexibility for cancellations, while non-refundable tickets may offer travel credits instead of cash refunds. Passengers are entitled to a full refund if LATAM cancels the flight. It's essential to review the specific fare conditions and contact LATAM directly for assistance with cancellations and refunds.