A method of facilitating and performing the redemption and exchange of unused tickets includes steps of determining the availability of unused tickets, calculating a redemption value of an available unused ticket, and updating a status of the unused ticket. The availability is determined by querying a database containing information pertaining to unused tickets. The redemption value is calculated based on the application of validation rules. The status is updated after a decision as to whether to redeem the unused ticket has been made. The redemption value is obtainable by exchanging the unused ticket for a new ticket. The tickets may be for air travel.