From the report:
So this, I believe, is the true story.
None of the alleged terrorists had made a bomb. None had bought a plane ticket. Many did not even have passports, which given the efficiency of the UK Passport Agency would mean they couldn't be a plane bomber for quite some time.
In the absence of bombs and airline tickets, and in many cases passports, it could be pretty difficult to convince a jury beyond reasonable doubt that individuals intended to go through with suicide bombings, whatever rash stuff they may have bragged in internet chat rooms.
[...]Then an interrogation in Pakistan revealed the details of this amazing plot to blow up multiple planes - which, rather extraordinarily, had not turned up in a year of surveillance.
Read the article: The UK Terror plot: what's really going on?