As to the questions whether cheap airlines, e.g. EasyJet, RyanAir, etc. have to pay back the cost of the cancelled flight to the consumers or provide re-routing as well as accommodation, meals, etc. - see ca. 6 minutes down his presentation.
"EU must be respected. Airlines have legal obligations. Air passenger rights will be enforced by national authorities. This is not a voluntary scheme. EU passenger rights apply to all air companies. There are no discount passenger rights for discount airlines. All airlines have legal obligations under EU law."
Since the video plays automatically, I'll post it behind the 'Read more'. Enjoy!