For most of the large, scheduled carriers like British Airways all this is fairly non-controversial stuff. They already follow 90 percent of the proposed guidelines. It is the charter industry and the smaller carriers that have fewer planes that fear the wrath of commitment backed by penalties. European passengers have endured hours of misery waiting in overcrowded airports for overpriced flights in overbooked planes now the possibility of passengers' revenge is close at hand. Just don't expect too much too quickly.
Promises are easy to make, harder to keep.