CX has been airing its dirty laundry lately BUT suffers from similar woes to anyother airline. Your decision is simple: Do it!
Despite the 'doom and gloom' cadre, CX will still make a profit this yr (and not many airlines can say that!) Albeit that the profit is significantly down since last years records.
FACT: You dont have to be of chinese ethinicity to get into the program. In Adelaide at the moment there are at least 4 europeans including a german and a smattering of other ethnic groups.
FACT: No bond
FACT: No housing allowance
FACT: You'll be in Adelaide for 14mths... and dont technically join CX until the end of that period. (Dont sweat the ban at this early stage)
FACT: 3yrs as an SO then 18hrs in the Lear45 and an JFO course. In 4.5yrs you will be a A330 or B777 JFO.
CX is still a good airline to work for. Those who are having a ball in HKG haven't enough time to visit pprune... as they're at the pub!