Does anyone believe there is a profitable offshore business model that does work in these times??
Well if no-ne is making money, suppliers will close down reducing capacity and the price to the oil companies will go up until operators are making money again.
How would the customer operate if there were no helicopter service? If there is no alternative why are you all cutting each other's throats to lose money on the contract? If there is too much capacity, someone needs to close - forcibly through bankruptcy or voluntarily by winding up and investing their money in something else.