Manc... Dont disagree with what your interpretation from a taxpayers perspective. It is unlikely however that any long term PFI that the assets would be leased... Whether hospitals or aircraft. They are bought and owned by the supplier invariably, and its often part of the deal that the government can buy the asset at the end of the PFI or if not they remain the contractors to do with as they wish.
Crab, I think heli 1's post refers to the GAP, not the SAR-H replacement programme... Which of course has yet to be announced. For a 4-5 year programme there is indeed a case that says retraining personnel is a more expensive option for such a relative short term contract. However, thats not to say it couldn't be achieved if any potetnial contractor had ways of amortising the costs elsewhere.