LATAM Airlines' cancellation policy allows passengers to cancel or change their reservations with flexibility and ease. If a passenger needs to cancel a booking, they can do so online or by contacting LATAM's customer service center. The amount refunded depends on the fare conditions and the time of cancellation. Generally, if a passenger cancels their booking within 24 hours of making the reservation, they can receive a full refund. If the Latam Cancellation Refund Policy is made after 24 hours, the amount refunded may be subject to a penalty fee. Additionally, passengers can make changes to their reservation, such as modifying the date or destination, with some restrictions and fees depending on the fare type. It's important to note that some fares are non-refundable and non-changeable, so passengers should carefully review the fare conditions before booking to ensure they understand the cancellation policy.