Unlike some operators who win loss making contracts just to win them (Inaer Italy's recent forays into Africa being the most recent example), CHC does not have any contracts which are not profitable at the moment (emphasis on at the moment).
nowherespecial
You are not correct. there are some quite large contracts which are hurting CHC which were "won" to get market share and which they are stuck with.
and the leasing companies are laughing all the way to annual bonuses
Not really, because Milestone (now GE) and Waypoint have idle aircraft with CHC (and Babcock) which CHC is having to pay for. The leasing companies are getting very worried that CHC won't be able to afford to pay them each month. even a debt / equity swap is of no value as the publicly traded part of CHC is worth about 1x equivalent EC225 in terms of market capitalisation.
All of the leasing companies have new aircraft on order which have been partly or fully paid for and have nowhere to go. Some have 225s and 92s soon to be delivered just as Bristow is actually looking at reducing its 225 and 92 fleet.
I don't know of too many smiling leasing companies at the moment and none who are laughing.