Yes, Skip. And advance sales often conflict with good yields, if an airline has to bulk sell to tour operators (etc) so as to guarantee good loads.
I was surprised that although last nights US734 PHL-MAN had only one seat free in the front, the average age must have been close to 70. Apart from me and (possibly) another couple of business types, it seemed that most of the pax were grey panthers on organised trips. Even my (late booked) ticket was well under half what BA wanted to charge me.
Good luck to Cathay - and I think they will thrive - but let's not get carried away just yet.