I can't say what actually happened in the cockpit during this... Years ago I was headed back home towards blighty and there was a full Mayday on 121.5 with a SET in IMC and an engine failed. Instant options were generated by the agency replying who when continually updated the aircraft until it reported visual with the airfield they were heading towards.
It was amazing to listen to, best bit was when they cancelled the mayday. The better bit was when the yank who transmitted several times 'U're on guaaarrrddd' got busted!