THE LONG WAIT FOR BAA

摘要

For those with their ear to the ground, last week's sudden announcement of the departure of BAA's high-profile capital director Steve Morgan was not perhaps a great surprise. Not only has Morgan always maintained that three years is long enough to be in any job, but he was always unashamedly ambitious about the scale of projects he wanted to lead. And the truth is, the days of megaprojects at BAA are over - for the time being at least. A combination of economic turmoil, regulatory delays and - overwhelmingly -political paralysis, means that the client that in the last 10 years commissioned Heathrow Terminal 5 (T5) and Heathrow Terminal 2 (T2) will go into its next five-year spending cycle with no major projects on the boil.