This is just another of those resets when a recession hits the business. It has absolutely NOTHING to do with current or future oil pricing, but everything to do with supply and demand of the basic commodity. The business model has changed and I would totally agree with you on the capabilities of the majority of the people in these executive positions in the helicopter business, but that's just how it goes.
Consider that the country with the largest known oil reserves in the World is on the verge of total financial collapse, and they ain't Muslims or at war with the World. They are just a bunch of worthless socialists led by a bus driver and just down the road from the States!