Oil Co - Drop your price
RW - No we have a valid and very nice contract
Oil Co - Ok you are hereby served 90 days notice as per that contract
RW - Ok if we take our pants down can we get an extension at a lower rate
Oil Co - Maybe.
And repeat.
It's business, no one should take it personally if your company is being wildly overpaid for a service your customers can go out and procure for a lot less today with very little blow back, why not do it? Sucks to be us in the bad times but in the good times it's great.
It gets very interesting though as the thought continues to develop when you think about who BRS's customers are and what they lose by allowing BRS to disappear. Is it possible BRS could be saved by a client whom they are majorly exposed to? Chevron? Conoco? Exxon? They all have the money and have been known to dabble in aviation before. Unlikely but for spending $60m-100m on stock and buying the debt at probably 5-20c on the $ at the moment, it could happen.