Rockape403
I think this situation may also have something to do with funding through CHC which is owned by a US Investement bank which is on it's knees
First Reserve is a private equity firm that specialises in an energy industry portfolio. It is not an investment bank and as it is a private equity firm you are unlikely to know if it is on it's knees or not. If it is trying to protect (rather than increase in the current climate) the investments of it's members, which is what it exists to do, it will no doubt be seeking to cut costs.