A European airline just announced that my intercontinental flight to Europe will depart 3.5 hours later than originally planned, leading to a different connecting flight with an arrival at final destination 8.5 hours later than originally planned. They announced that less than three days before departure.
The airline now asks me in an email whether I’m accepting this change or whether I want to travel at a different date (absolutely not possible for me).
What can I expect regarding my passenger rights? Do I forfeit my rights for compensation by sending my acceptance of these changes? Am I entitled to compensation at all?