When KLM-ERA were together I think ERA did OK out of it, because the Dutch were a canny bunch with money. The UK company in Norwich didn't pay tax because they always made a loss on paper by leasing the aircraft from Den Helder to the UK at high hourly rates.
In theory the Bristow-ERA partnership should be OK but I'm not sure if anyone can make money with these low oil prices, hopeless contract rates and the North Sea being slowly wound down? Do you know if they operate anywhere else apart from the Gulf of Mexico, which is probably the same? Would the Rowan Drilling side keep the wolf from the door until prices rise again? - I guess they can't use one to subsidise the other though. How did Bristow get to this sorry state?