Upvote:2
Legally, the airline owes you that money, and owes it to you now.
The problem is that nearly all airlines have significant cash flow problems, and therefore try to wiggle out of paying any cash if they can.
You can only call and nag them, maybe tell them that you plan to get a lawyer and sue them. Maybe they pay then, or maybe they sit it out - they will have to pay at the end, and they know that, but the later the better for them. They might even offer you double or triple the value of the ticket for flying in the next year - anything to avoid paying cash now.