Great post r-r, on so many levels. The financial restructuring has to happen, but what will be more interesting to watch will be the inevitable business restructuring. With the virtual collapse of the traditional "Canadian CHC" market of supporting exploration ops in countries that didn't have an established helicopter industry, I suspect a retrench into the mature areas of operation is required.
So will CHC become a European and Australian only business? What about Brazil, are the margins large enough to sustain operations there?
Some challenging decisions to be made, with a lot of collateral damage?