Have you no idea that 2009 happened and almost all trading desks in almost every bank have dramatically cut back? And the housing market and property developers are tanking? Why the hell would you want more first class then?
The point is, CX is trying to compete on price with the budget airlines and Chinese airlines, compete on quality with the ME carriers, compete on frequency and slots with everyone, and ends up doing nothing well.
The bloomberg interview last week with the CEO said it all. when asked what is CX's plan on pressure coming from shorthaul competitions from PRC carriers and budgets, and/or longhaul competitions from Middle East carriers, he froze, then said hopefully these pressure are "temporary" (they are not), and hopefully to add more routes with new planes (which doesnt address the current problems).
Best of luck