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Last month, I was bumped and received a $400 travel voucher from American Airlines, in the form of a printed paper voucher (not an eVoucher, which Google tells me exists and plays by different rules). Can I use my voucher to book a flight that costs, say $200, and use the remaining balance towards another seperate booking?

If so, can I do so at a later date in a seperate transaction? Or do I need to spend the voucher all at once, regardless of whether it is on one or more distinct itineraries?

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Yes, you can - of sorts.

When you redeem the voucher you will need to mail it to AA (or take it to an airport location). After it is processed, they will mail you a new paper voucher for the remaining value (presuming it is more than $5).

This process normally takes (at least) a few weeks, so there will be a window where you will not be able to use the remaining credit, but when it is issued the new visa will have a 1 year expiry.

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