No, Regulation (EC) No 261/2004 (EU261) does not cover lost, delayed, or damaged luggage. EU261 is strictly focused on passenger rights regarding flight disruptions, such as cancellations, overbooking (denied boarding), and significant delays (typically over 3 hours). Compensation for luggage issues is instead governed by the Montreal Convention, an international treaty. Under the Montreal Convention, you can claim compensation for "essential" items (like toiletries and basic clothing) if your bag is delayed, or for the value of the contents (up to a specific limit, currently around €1,300–€1,600) if it is officially declared lost after 21 days. While both regulations protect travelers, you must file separate claims under the correct legal framework: EU261 for your time and inconvenience, and the Montreal Convention for your physical property.