''Dragonair best T+C's? Is it that much better than Virgin?''
Yes - by quite a margin. Plus I would still be a F/O at VS - and for some years to come as well.
As for Time Traveller's comments, it's all about what you view to be important for a good quality of life. The help for accommodation is quite substantial. Far from living in a shoe box, I'm in a nice house in a very nice town, a short walk from the beach, close to where I moor my yacht. And the housing allowance can be used to pay your mortgage so it eventually ends up in your pocket. The kids go to one of the best private schools in the UK and we all thoroughly enjoy living in HK and have a much higher standard of living than if we had stayed in the UK.
Any contract can be abused - I remember when Virgin were making people redundant in 2002, the poorly written document the VS employees had signed was used against them when the company decided on a policy of selective redundancy. At least in Hong Kong, contract law is very tight and I feel quite secure with mine, thank you.
And I don't miss the UK tax, crime and weather.