Babcock are a huge global company of which their offshore helicopter group is a small part. I'm guessing that means that when they go to bid for a contract the can put a lower bid in as their overheads are not as big as perhaps CHC/BRS have. So while they have to make money of course they don't have to pay for all of the overheads in the way the other companies do. Gives them an edge in this difficult climate I suspect.
This is purely guesswork as I don't have access to their boardroom and their paperwork.
We'll find out soon enough I guess, good luck to those that are involved in this squeeze.