The individual AOCs will remain to exist. Many contracts are with third party holders anyway and not directly with CHC, so for the customer it is still relatively safe. I imagine if the once great CHC now becomes insolvent the individual operations will be sold off as independent companies to new buyers, who will inherit the contracts, workforce and current structure in that national AOC. There are AOCs in CHC that still have huge potential and are making money, and could be ripe for selling to pay off the unavoidable debt. I am sure the customers are discussing this and have contingency plans, but the contracts will likely remain, just the overall ownership will take a move. I can imagine CHC HS in Norway being very profitable operation for the right owner if it was released from CHC. Likewise Brazil and possibly one or two others. Their success will be relatively dependent on them being independent and fairly autonomous again as they once were. Helikopter Service was itself once a direct competitor to CHC and when running itself without external influence was extremely successful. Many of the structures and personnel remain, so it is not a huge leap of the imagination to think that HS could be reborn within Norway and possibly with a Norwegian owner. It would spell the end for CHC as HS is one of the main sources of income, but if the end has already arrived and they have no choice due to the obligation of the courts this may be the only option. The circle has turned full?