Last week I bought a full refundable ticket to return home but the outbound segment was cancelled so I aborted the trip. I went to the airline to get a debit on my card and I was sent to the issuing travel agent.
The question that dawned to me rather late was whether would be possible of using the value of the initial ticket to buy a new one to another destination. IS that feasible with a legacy airline?

It is too late but it is worth knowing for the future...

Rwy in Sight

If a full fare ticket on BA for example,quite possible to use value towards another BA ticket.

If you book through a travel agent the only way to get a refund is through that travel agent as they are the ones who actuall hold your money. The airline won't get that until around 3 months after travel.

It would be up to the travel agent as to whether you could use your original ticket as a credit towards another trip. You may be charged an amendment fee but in theory it is up to the agency and their internal policies.

This is what I've come to understand in training and I am certainly open to correction on this.

A legacy airline can always reissue/reroute its' own ticket. Quite how much value a ticket has depends on what kind of ticket was purchased in the first place and the rules associated with that ticket. It depends very much on why the reroute is initiated as well.

If the airline cancelled the ticket they should have offered you re routing at no cost. If you chose to reroute then the precise route chosen would determine the cost.

I just tried to reroute the return leg of a full fare Y ticket with Virgin.

It was certainly possible, however they wanted in additional £280 on what was already an expensive return leg.

I assume this is because they priced the rerouted ticket at the full Y price for the new route, where as since it is sometime in the future there is still plenty of discounted fare availability on the flight I wanted.

So I decided to cancel the return leg completely and separately book a ticket on the new route... The trouble is the agent couldn't give me any clue as to how much the refund would be, and said it was unlikely to be actioned until after Christmas.

Thanks for the answers so far. Here are some more details:

My intial airline ticket is according to an airline employee is refundable but only via the travel agency. He quoted me for a new ticket to another destination and he did try to sell it but he did not volunteer to use the initial ticket towards the price of the second ticket. I should have asked the airline person. A lesson taught
The travel agent told me that I can have a refund in a few months time and I should have asked the airline to re-route the ticket. Anyway the ticket now is on the way to be refunded I hope for the full amount.

Rwy in Sight