I can only speculate from the ‘client’ side of things but having asked both there appears to be nothing in this at all at this time.
The 3 main ‘legacy’ NS operators meet more often at high level that us plebs would be aware of and as they all talk constantly about consolidating its inevitable that rumour and speculation will abound.....no doubt that all 3 have probably sounded one another out. CHC and Bristow did, that’s common knowledge....
.... however an interesting snippet did reach my ear from a normally impeccable source that a large current NS contract up for renewal was potentially being awarded on a split basis between the two aforementioned in this thread and indeed inferred it could be viewed as a JV which would obviously lead to a bit of 2+2. I’ve heard nothing confirmed tho and for the avoidance of doubt, this is a rumour network!!