The market was never helped by an operator running at a clear loss – that in itself depressed the margins of others as they bid for business;
For once I find myself agreeing with the author (many on this forum will know him). However, I would have expanded that line further:
A Chapter 11 bail out, further depresses the margins of others as they bid for business as CHC will emerge with what many would consider to be an unfair competitive advantage. If an operator was running at a clear loss then it is a pretty good indicator that there was probably too much capacity in the market place and rules of good competition policy suggest that the weakest should be allowed to fail leaving cheap assets and additional work for those that remain.
Survival of the fittest not saving of the failed?