Does it not revolve around whether the company incurs additional expenses because of the delay? If it does then surely the compensation belongs to them?

Once while abroad I took a short flight at the weekend to see another city for my own pleasure. The return flight was delayed by fog and I missed my return flight back to the UK. Although it was my 'fault' I expected the company to meet all the additional hotel, subsistence and travel expenses as I was abroad on work business. They did and that was fine, but had I received cash compensation that would have belonged to the employer, not me.