My 10c worth here is that CHC and Babcock bid at the same profitability rates but B's overall lower cost structure from a cost of aircraft and corporate credit card perspective won the day. CHC's post Ch 11 strategy is to only take contracts they can make money on. It's just that their level of 'make money' is higher than some others. Seeing as no one has that many spare aircraft anymore, you would certainly hope that bidding is becoming more and more rational.