Open Closed principal in design patterns

I am bit confused about how Open Closed principal can be applied in real life. Requirement in any business changes over the time. According to Open-Closed principal you should extend the class instead modifying the existing class. To me every time extending a class does not seem to be practical to fulfill the requirement. Let me give an example with train booking system.

In train booking system there will be a Ticket object.There could be different types of tickets Regular Ticket, Concession Ticket etc. Ticket is abstract class and RegularTicket and ConcessionTickets are concrete classes. Since all the tickets will have PrintTicket method which is common, hence it is written in Ticket which is base abstract class. Let's say this worked fine for few months. Now new requirement comes in, which states to change the format of the ticket. May be few more fields are added on the printed ticket or may format is changed. To fulfill this requirement I have following options

1. Modify the PrintTicket() method in Ticket abstract class. But this will violate Open-Closed principal.
2. Override the PrintTicket() method in child classes but this will duplicate the printing logic which is violation of DRY(Do not repeat yourself) Principal.

So questions are

1. How can I satisfy above business requirement without violating the Open/Closed principal.
2. When the class is supposed to be closed for modification? What are the criteria to consider class is closed for modification? Is it after initial implementation of the class or may be after first deployment in production or may be something else.