Most companies require some sort of commitment out of their pilots. It's normal, Jetpilot213. They spend huge money on training etc. Pilots refusing to sign bonds is the reason people are paying for their own type ratings and ruining the industry.
I know you think you're just looking out for yourself, but airlines hire thousands and thousands of people, and they need to look after them all, including you. No company can just absorb training costs without getting some blood back.
GK, I think it depends on your specific needs and goals. If your heart is set on Cathay, then it's a no-brainer, just freelance until the start date. If you can be happy elsewhere, and you have that opportunity, then go ahead and sign away.
I am in the same boat as you with the 10-12 month delay, and personally, I can't see myself happy elsewhere, so I am waiting. Respect and acclaim needs to be sent to Cathay as they gave us a timeline, and at this stage, it looks like they'll honor that timeline. It's not like they've stringed us along with stuff like, "wait 1month and we'll see" - "okay, we still don't have space, just hang on for another 3 months" - "okay it really doesn't look good, can you hang around until 2015". They seem to have set their targets on starting end of 2013 (rumour) for those at the top of the list. I was told realistically, June-July 2014, so it looks as though they will honor their word.
Regards,