The EC 261 flight compensation regulation establishes common rules on compensation and assistance to passengers in the event of denied boarding, flight cancellations, or long delays of flights. I read on https://thepointsguy.com/guide/guide-eu261-flight-compensation/:
Because airlines deal with a lot of claims, expect to wait as little as a few weeks or as much as a few months for the airline to respond to your claim in question.
Does the regulation on the EC 261 flight compensation set any deadline for airlines to pay the compensation?