Qantas have a really cheap first class fare SYD to LHR. I almost booked it but backed out because my reading of the fine print is that only fully flexible first and business class bookings are entitled to cancelled and refunded. With all other first and business booking types, your fare, less cancellation fees are held as a credit to be used within 12 months on a booking of equal or higher value from the same point origin. If my reading is correct, this is beastly and I have not found anything as unreasonable amongst other carriers servicing our market. If I am wrong, let me know because I still have a few hours to complete the booking and get double status credits.