What is the current American Airlines cancellation policy?

According to American Airlines cancellation policy, if someone cancels their ticket within 24 hours of booking, they will receive a full refund of their original payment method, regardless of the cabin and fare they selected. Cancellation of basic economy tickets booked on American Airlines is generally not permitted, but if you can cancel within 24 hours of booking, you may be eligible for a refund. Some offer freeholds, but American Airlines allows you to cancel your ticket within 24 hours of booking for a full refund (provided you make your first purchase at least two days before departure). You can get a full refund if you cancel your flight at least 24 hours before your scheduled departure time

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