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If the airline cancels your flight to Italy because of the coronavirus, you can choose a ticket refund or rebooking; an exceptional circumstance may remove the fixed compensation, but not these two rights. The refund must normally be issued within 7 days. You are not obliged to accept a voucher instead of money. These European rules apply in particular if your flight departs from the EU, or arrives in the EU and is operated by an EU airline.
However, if you are the one cancelling because you are ill, fear infection, or your plans change, the coronavirus does not automatically entitle you to a refund. It all depends on the ticket conditions: with a non-refundable fare, you might only recover certain taxes. Also check your insurance, as epidemics and travel restrictions may be excluded, unless there is specific coverage.
First write to the airline operating the flight, clearly requesting a refund rather than a voucher if it cancelled the flight. Keep the cancellation confirmation, the correspondence and the receipts. If your flight is part of a package bought with accommodation, the rules may differ from those for a ticket bought alone.
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