It's not really a surprise as AC is slowing taking over CP's most profitable routes.

CP already have 2 of their 747s sitting around in YVR now, I noticed that one is sitting in the hanger getting some maintenance work done and another one is just sitting on the tarmac.

I wouldn't be surprise if AC decide to sell CP's 744 away and use the money to buy some more A340. The A340 are more fuel efficient and easier to fill than 747s.

I am not surprise that AC is only operating one YVR-HKG flight. That flight will only fill up entirely during Chinese New Year, Summer months and christmas. It's hard to fill up 2 planes (747 + A340 = almost 800 seats everyday) during months like March, April... Their low loadings are evident when they offered YVR-HKG as a web specials last week. AC is intending to return to operating 2 flights when summer time comes around. They are not planning to operate it as an overnight flight anymore {AC 11/12}, it will depart in the afternoon instead of late night and will arrive HKG late night around 11pm -> (More stupid moves by AC).