The plans to privatise search and rescue helicopters were laid originally out by the Labour government in 2006.
The plans were controversial, and designed to replace the ageing Sea Kings that were currently in use.
Soteria SAR was announced as the frontrunning bidder in February 2010, but a year later it was prevented from acquiring the contract due to several issues with the conduct of their bid team, as well as forming part of the coalition government's spending review.
More top news
Former archbishop Jozef Wesolowski has died ahead of facing paedophilia charges in the Vatican.
The makers of the latest Star Wars film have released more teaser footage of the upcoming blockbuster.
Premier League referee Michael Oliver stepped into the breach when an official was injured during a women's Intercontinental Cup match.