Very sad day because the company states that it is suffering of a severe deteriorization in the oil and gas industry, compelling them to cease any and all cost increases.The reality is different. The American investment company "First Reserve"owner of the Canadian Helicopter Company since end 2008, is performing a sordid cash improvement programme.There is a crisis manager appointed and is under instructions to cut European flight operations by 20 million pounds.Cutbacks should lead to a higher return on investment for First Reserve.The exellent result of the Dutch operations and local circumstances are by and large ignored. In a time when bonuses have to be repaid and companies are reliant on goverment support to stay in business, First Reserve merrily continues its profit maximization, this is a flagrant abuse of circumstances, even though the number of CHC offshore flights for the North Sea has been under pressure somewhat, there isn't an economically urgent situation for the helicopter business in Holland.