If the airline is responsible for the delay, you are legally entitled to claim compensation. The amount you are entitled to is calculated based on the flight route, rather than the price of the flight.
Flight destinations within the EU:
€ 250 compensation for a delayed flight with a distance up to 1,500 km
€ 400 compensation for a delayed flight with a distance over 1,500 km
Flight destinations outside the EU:
€ 250 compensation for a delayed flight with a distance up to 1,500 km
€ 400 compensation for a delayed flight with a distance over 1,500 km up to 3,500 km
€ 600 compensation for a delayed flight with a distance over 3,500 km
In the case of a positive outcome you will receive 75% of the claim amount minus € 25 administrative costs per passenger.