Bond are owned by worldwide helicopters who are owned by private investment company KKR. They will be looking for at least 20% ROCE. They are not in tue business of making 4% on an investment. Bond have not gotten a 20% reduction on the purchase price of any aircraft they bid.
So how do they bid over 20% lower that Chc ?. Simple they pass it onto the T&C of the pilots, crew and engineers . One possible way of doing this is have all your employees work for a sub contracted company. Like developing assets. Simply put they will offer T&C below both other main heli operators, with no chance of BALPA coming in to push the case for improvements as bond do not recognise unions. This may suit people coming out of MOD with a pension to supplement
your pay. This may be business but your cutting your own throats.