If you look at CX's 'Fare types and conditions' page, all fully flexible tickets in all classes now charge HKD250 for cancellation.

http://www.cathaypacific.com/cpa/en_...king/faretypes

FYI, I've been told that the new paid Traveller's Lounge near Gate 1 is better than the Wing/Pier (in terms of F&B). Worth a try.