Also google for Regulation 261/2004 to see the rules for ALL airlines departing from a EU airport - focusing on the provisions for cancellation.
Even if the EU rules had applied the eligibility for compensation depends on how early OP was notified. From the regs:
The airline is also required to pay cash compensation as described below, unless one of the following conditions applies:
1. the airline notifies the passengers at least two weeks prior to departure
2. the cancellation was caused by extraordinary circumstances that could not have been avoided by any reasonable measure.