User: What is the EU compensation regulation EU261 for cancelled flights?
Assistant: The EU in 2004, passed regulation EU 261 to protect passengers against severe flight disruptions such as long delays, cancellations, missed connections and flight re-bookings. The exact compensation amount is dependent on the flight distance and delays of over 3 hours, cancellations, or being denied boarding due to overbooking. The regulation went into effect as of February 2005.