No airline has free cancellation. Only free changes or vouchers
That's my problem - I can get an elal credit in my son's name, or cancel for $270.
If I felt ELAL was going to bounce back, I might save that credit for a pesach ticket home, but is it more likely that they will resolve this by August, or that they won't but resolve it later on?
I can't imagine ELAL bouncing back after 2 weeks of no flights. So I think I'll give it a couple of days.