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Terms and Conditions for Icelandair Travel Credit Vouchers

Customers are entitled to a refund or Travel Credit Voucher, at the discretion of both parties, in the event of:

  • An Icelandair flight cancellation
  • An Icelandair schedule change 
  • A time change
    • International flights: new departure time differs 5 hours or more from the original time of departure 
    • Domestic flights: new departure time differs 2 hours or more from the original time of departure 
  • A delay on the day of departure resulting in the departure being postponed 
    • International flights: for at least 5 hours 
    • Domestic flights: for at least 2 hours 
    • Causing a misconnection with another flight on the same ticket 
  • A cancellation of another airline's flight issued on the same ticket as the Icelandair flight.

Please note that the Travel Credit Voucher applies to all unflown flights for all passengers within the booking. After receiving the Travel Credit Voucher, your tickets are voided, and you will no longer hold a ticket for the remaining part of your travels. The Icelandair Travel Credit Voucher is a form of refund for services not rendered. By accepting a Travel Credit Voucher as a form of refund you agree that the Travel Credit Voucher is a valid form of reimbursement and that the related card transaction will no longer be open for disputes.

Some customers may hold a Travel Credit Voucher issued for customer cancellation caused by COVID-related matters. Such vouchers were issued prior to August 1, 2022.

Customers can also receive a Travel Credit Voucher when accepting a flight reservation modification proposed by Icelandair. In such instances, the Travel Credit Vouchers are not considered to be issued as a form of refund and the ticket will not be voided, but instead changed as per the agreement of both parties.


All Travel Credit Vouchers have the following terms:

  • are valid for booking up to 3 years from the date of issue, and for travel up to 1 year from booking.
  • are equal to the amount previously spent on the fare, fuel surcharge, and airport taxes, including extra services purchased, when issued as a refund; OR have an agreed set amount when issued in exchange for a flight reservation modification proposed by Icelandair.
  • are valid as payment for all Icelandair flights on our website or via the Icelandair app.
  • are valid as payment for taxes and other fees.
  • are non-refundable, non-returnable, and have no monetary value.
  • are non-negotiable and cannot be extended.
  • can only be used for services as per description on the voucher.
  • may not be sold, transferred or redeemed for cash.
  • will not be replaced if lost or stolen.
  • are void if used for commercial or promotional purposes, purchased, sold, advertised for sale or bartered.
  • are valid in any of our accepted currencies. If redeemed on a currency other than the currency that the voucher was issued in, the conversion rate is based off the date the Travel Credit Voucher was issued.

Except where prohibited by law, Icelandair reserves the right to refuse, void, cancel or hold for review any Travel Credit Voucher issued where a dispute has been filed or in connection with a violation of these terms and conditions.

The conditions listed above must all be met in order to be eligible to receive a Travel Credit Voucher.