The pilot may well have exceptional flying skills but he demonstrated very little airmanship and apalling judgement in that display. On the basis of that performance he would certainly not be granted a Display Authorisation (DA) in UK.
Unless the rules have changed recently (I retired from display flying 5 years ago), the minimum height for straight flypasts in such aircraft is 100ft (300ft manoeuvring). It is therefore necessary to pull up from 100ft before turning even if it is not common sense to an individual pilot.
I have considerable display experience in Pitts S2A's and BAE 146's. I'd like to think that my 146 displays were spectacular enough to be enjoyed by the public without frightening them. I once had a slight slap on the wrist from the governing body (CAA) for infringing the 300ft rule when I relaxed a steep turn on a stick shake in gusty conditions - I only lost a few feet, but better to do that from 300ft than with my wingtip in the grass.
This foolhardy display was down to the PIC, NOT the airline - but if I was the chief pilot I think I would ground the pilot pending an investigation and start seriously questioning his responsibility and mental stability.
rts