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The webpage mentions that it is an economy airfare. When I look at Cathay Pacific website it does not mention business class, in fact it says that it is Not eligible for Asia Miles Accrual which would lead me to believe that it is fact a non status earning promotional airfare.
When I checked on website BKK-NRT return in business it came out to 70,000+ Baht. Hardly even close to the 12,500 Baht advertised for this super special.
Yes I remember it said business but I think this was a mistake on the travel agent website. I think it was always meant to be economy as the price is exactly the same as you mentioned in OP. As mal pointed out we have had this debacle once before with the supposedly cheap AY I class fares which were also non existent.
Seeing the exact promotion on the CX Thailand website makes me think that it never was a travel agent only deal. I have sent the travel agent email regarding business class airfare advertised and no response from the yet. Looks like I will have to stick to the AY runs.