Flitefone - I agree with much of what you say. However
Airport owners (and landlords!) try to maximise return on investment - and the longer they can delay investment the less return they need to make. Speculative investment in infrastructure rarely makes financial sense. In addition MAN is always going to generate a bigger return for every £ invested than BOH.
If you want a comparison - look at how little MAG has invested in the business park attached to BOH - a vastly bigger cash cow than the airport in the short term. Despite what Mr Muirhead may have said in 2004, MAG have rarely demonstrated anything other than very short-term thinking with regards to BOH (and HUY).