Shock, horror!
Another massive global helicopter company run by a team with limited knowledge of helicopters has once again struck an iceberg!
A quick review of the global marketplace reveals significant growth from new entrants into the offshore field, and monumental declines in the legacy providers.
Considering the success that many of these companies achieved prior to the incumbent management teams, it does bear reflection on what value these individuals bring?
Because of the huge revenues generated in this industry, it attracts many who can earn huge incomes without generating proportionate profits for their shareholders. This demise is very interesting, as the declines can be clearly apportioned to the management leading the business.
It'll all be OK though, a quick reorganization will provide adequate breathing space, until the next reorganization.
Triples all round!