Airlines are disregarding the EU law which says they must offer customers a refund when they cancel a flight.

Perhaps it is a good idea to offer them a compromise, but that compromise must be accepted by the public, not imposed by the airlines. The broader voucher program proposed in the article could be a good solution, but giving putting these customers at the head of the companies' creditor lists could also be part of the solution. That way, the customers might not get all they are owed, but at least the stockholders will be the first ones to lose.