I also suspect Cathay was never exactly that happy with Qantas flying HKG-LHR (now stopped), and the Jetstar HK thing.
somewhat comparable to hub based airlines dumping unlimited capacity on any number of Australian ports?
I think the benefit to CX/SQ/EK/EY capacity dumping A380's and 777's multiple times each day to every major city in this country somewhat outweighs a single 747's worth of pax to LHR or a pesky, hopefully 18 airframe by 2015 upstart.