Reduce Cancellation Charge for Airline Tickets to Rs 500

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I recently booked a ticket from Mumbai to Delhi From Vistara.Fare for the trip was around Rs 3700,due to certain situation I had to cancel the ticket,But was shocked to find that for a Rs 3700 ticket Cancellation Charge itself was Rs 4400.I tried to talk to Airline about this,and they had Single Blunt reply "You accepted our terms & Condition at time of Booking".

Even from a layman's logic cancelling a refundable ticket should not be more than the price of booking itself.And its beyond anyone's imagination,why is cancellation fee so high for airlines amounting to several thousands.for eg. Vistara charges Rs3000+ taxes,spicejet charges rs 2250 + taxes,Indigo charges Rs2250 + taxes.

So overall in name of terms & Condition they charge you even more than the cost of ticket for cancellation sometimes.THis is exoberent and open burgalary on part of airlines,inspite when they sell the cancelled ticket at even higher price.

I would request Ministry of Civil Aviation and Prime Minister Office to have some logical pricing for atleast cancellation or rescheduling charges for flight tickets.In current scenario it feels we are been looted openly in names of terms & conditions by airlines as a whole.They leave us no choice.

Cancellation Charges for Airline tickets should be no more than Rs 500.Looting money from passengers by all airlines is just not justified.