I've just received an interesting offer from AC. A few weeks ago my flight back from Europe was delayed and arrived back into YYZ over 3hrs later than scheduled.
I submitted a request for compensation under EC 261/2004. They got back to me saying I'm entitled to the CAD cash equivalent of EUR300 via eTransfer,
This equates to approx CAD$440.
Or, I could receive CAD$600 as an Air Canada eCoupon valid for 3 years from date of issuance.
Seeing as I have several more trips to book with AC this year, I'm going to request the eCoupon, but I find it interesting that AC are offering me more money than obligated.