A/C revised policy due to outrage for March 1 to June 30 cancelled flights. Still no chance at a refund but vouchers don't have a two year expiry date. That's much better but still sucks. If A/C cancels the flight, the money should be refunded. Who knows if A/C will last until you can use the voucher? Will you want to fly in the foreseeable future with ticket prices doubled? Airlines need ~75 to 78% capacity filled to break even in the old reality. As planes likely won't be nearly that full, prices need to rise to compensate.
Air Canada is revising its cancellation policy amid mounting customer frustration, offering travellers the option of a voucher with no expiry date or discount Aeroplan points if the airline cancels their flight due to the COVID-19 pandemic.