Reply To: Flight class downgrade rights

[NorthernLass]

You don’t say what Virgin are offering but I’ve seen very attractive offers mentioned on here. Statutory compo for downgrade is 75% of what you paid for the downgraded leg on long haul so you’d need to work out which is better. You wouldn’t have the right to be re-routed on another airline, as would happen if your flight was cancelled altogether.
If you have a look at some of the EU/UK261 threads on here there’s more info on this.