Leighton's disastrous loss legacies

The scale of new losses announced on Leighton's Airport Link and desalination plant projects, so close to completion, are staggering – and the changes the company needs to make can't be implemented quickly.

Now we know why Leighton Holdings decided to suspend trading in its shares earlier this week. The shockwaves from what chief executive Hamish Tyrwhitt describes as two of the "tsunamis" he inherited are continuing to inundate the group with red ink.

The scale of the latest round of losses on Leighton’s two big public-private partnerships – Brisbane’s Airport Link project and the Victorian desalination plan – is, given how close both projects are to completion, staggering.

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