Yes, Iberia does allow you to cancel your flight within 24 hours of booking and receive a full refund, as long as the flight is scheduled to depart more than seven days after the booking date. This 24-hour grace period is particularly useful if you’ve had a change in travel plans or accidentally booked the wrong flight.
Canceling is simple—log into your Iberia account, select “Manage My Booking,” and follow the cancellation steps. Once completed, your refund will be processed back to the original payment method without any penalty fees.