Lenn,
I think a point that hasn't been spelled-out by previous posts is that it is even illegal in Hong Kong to stage a walk-out...!!
The pilot's could resign, but would be compelled by law to give either, a) 3 months notice (not a good technique in an industrial campaign) or, b) pay Cathay 3 months pay in lieu of notice (not a good technique at any time).
So you should understand that due to the unique and draconian employment & industrial relations laws in Hong Kong, they have VERY, VERY limited options.
The current campaign is understated (as it has to be to avoid breaking the laws) whilst putting sufficient pressure on CX to induce the Company to realise that negotiation is the only way forward.
It's a subtle game plan, and must seem inexplicable to people who live in first world countries with sophisticated employment laws.
I do not, and never have worked for Cathay Pacific, but I do live and work in Hong Kong. My advice to you is to trust your colleauges here, for they know what they are doing.