For the commercial side that is true - I have never known it so bad for so long. However the issue for Heliair and other companies like it is that they on the whole serve the PPLs, self fly owners and ab initio training market. The commercial side can bounce back if the economy recovers. Heliair's market however has been falling for twenty years. Repeated attacks by the taxman in the UK and elsewhere makes it increasingly difficult to either buy or run a helicopter on a business. Both capital costs and running costs have escalated well ahead of inflation and earnings. and there really isnt an ideal helicopter for the serious private owner.
Q has carved out a niche by providing an excellent service - if you book an aircraft you are never let down. The aircraft is out, fuelled and ready. Support is never too much trouble, you can go and come when you please, and the price is highly competitive. So what is left of this market has gravitated to HQ leaving the competition floundering. Not healthy.