No airline will refund your ticket because you didn't get a visa.
Also, there is typically no possibility to 'reserve' without buying a ticket, at least not longer than one or three days; not enough to wait out a visa application.
However, you can buy refundable tickets from most airlines; those are refundable without reason, you can simple ask for a refund at any time.
They are typically significantly more expensive than normal (non-refundable) tickets, and often there is a processing fee deducted when they get refunded. Some airlines might not refund you, but instead put the money in a hold where you (and only you) can use it within 12 months; somit is not lost, but still bound to be spent with that airline.
The usual approach is to buy a refundable ticket, and once your visa is approved, buy a normal (cheaper) ticket and return the refundable ticket. Still, you need to put the full price on the table for the refundable ticket, and be out of that money for months.