I am amazed by the short term outlook of the wannabees on this & other threads. Here's a classic:
I'd be getting about 880,000HKD cash at the end of the first year as a refund on training I don't need, which I could spread over the 4(ish) years to FO to supplement income.
OK, I know that number sounds big, but what about cost of living in HK? I assume by the fact that you will get that much, you are not an ab-initio with no experience, and would have at least met the criteria for DESO before they scuttled the scheme. So, let's say that you use that for housing. Assuming the current housing figure doesn't change, (SOs get 50% of the full rate for 2 years, then full rate thereafter), a pilot on the current non-local package gets that many $ in housing allowance by about the 27th month of employment, thereafter he continues to receive the housing allowance for the rest of his career. You get nothing more after that.
There is lot of information on other threads about the tax implication of the forgivable loan - and it's all bad for the recipient of the cash!
This is the reality of what everybody is trying to say - your cash-up-front deal puts the company in front, and of course you behind, by the 27 month point. How long do you have to remain employed by Cathay for them to totally "forgive" the "loan"?? If they require you to do more than 27 months, then you are being taken for a ride.