Sadly as is so very often the case with UK plc doing things cheaply seems to trump doing things well. The price of everything and the value of nothing.
CHC won't be 20% out of line by accident. They will bid because they need to bid to show willing. As their own press release states turning a profit means they can 1) do the job that is expected 2) survive into the future.
Aviation is full of businesses and individuals that all too often try and do something for nothing. It never lasts very long.