Originally Posted by
Fabo.sk
EC261/2004 covers award tickets as well and properly speaking, airlines must rebook you on a revenue ticket if an award is not available.
In practice, this is widely abused across all airlines, so your end resolution might have just ended up the same, unless you happen to have a good ally with you (a strong lawyer or even better an active NEB)
EC261 won't, however, cover flights between Hong Kong, Indonesia, and Australia.