No. Most 2/5/10 year contracts have a 90 day termination clause.So, in effect, the operators have 3 months worth of actual security.
Correct, in the last few race to the bottom years, I have seen helicopter companies accept “termination for convenience” clauses with as little as 14 days notice. No wonder no one can finance the purchase of new aircraft now, banks won’t touch offshore helicopters, even pre virus.