This is true. Nearly every major airline if not all will give you the full price of your flight in credit (to be used within a year) as long as you cancel the flight instead of no-show.
I went so far as canceling 20 minutes before departure last year on an international flight to the states and they still held respected it 
Something to keep in mind if it doesnāt pan out. Really hard to know, I swear the policy gets less coherent by the day.