"refundable fares" is correct and usable in written English.
You can use it when you are referring to fares that can be refunded or returned. For example, "Many airline companies offer refundable fares so that customers can change their tickets if needed."
For instance, Southwest and JetBlue now offer fully refundable fares, intended to appeal to business travelers with changing schedules.
But as the Internet made fare comparison easier, airlines began dropping the Saturday night rule, and business travelers overwhelmingly switched from expensive fully refundable fares.
They can sometimes be even higher if, for example, passengers pay extra for seats with more legroom or buy refundable fares.
But in January, JetBlue introduced refundable fares, which the airline says generally cost $50 to $100 more each way than its nonrefundable tickets.
People paying the cheapest fares, which are typically nonrefundable, show up; those paying the most, usually refundable fares for business travelers, are more frequently no-shows.
The refundable fares and extra legroom were an effort by JetBlue to attract more business travelers, rather than the vacationers who have been its focus since it began flying in 2000.
In other words, offering a fully refundable fare simply creates an illusion of choice that the airlines exploit.
The fully refundable fare is $50 more than a restricted ticket and you're not certain of your return date?
Southwest also changed its Web site, which will now show only three fares a flight: "business select"; a separate refundable fare known as "business" that comes without the perks; and "wanna get away," the cheapest fare available, which is not refundable.
Of course, you can buy an expensive fully refundable fare and change the dates all you want, but I'm guessing that's not what you had in mind.
Although the two airlines have a business relationship, Virgin Atlantic, like many foreign-based carriers, does not issue refunds on non-refundable fares when there's a price drop after you buy.
