If fully briefed and practised in the sim with failure seniaros considered, this flypast can be conducted in a very safe manner. I would say a three-engine ferry would have much lower margins of safety.
Pilots suspended?
If the CEO of CX was onboard, why doesn't he take the can for failing to prevent the Captain from making the pass? Where does the buck stop on this one?
What about the long-long list of previous delivery flight flypasts? Are they going to suspend all those pilots as well?