Iberia allows cancellations within 24 hours of booking for eligible fares, offering travelers the chance to change plans without penalty. This option is available if your flight departs at least a week later, making it ideal for long-term travel planning. Make sure to check the terms associated with your specific fare to confirm eligibility. If you need to cancel or modify your flight, take action promptly to benefit from this policy. Visit the Iberia website for more information on managing your booking.