"What you are seeing at the moment is making sure that there is extra vigilance, to make sure that we aren't cutting any corners in our security, to make sure that we are absolutely focused on our security", Colvin said.
"There is a little bit of conjecture as to why it didn't go ahead. It didn't get past the check-in".
Items found by police allegedly could have been used to construct an improvised bomb. As a result, the bag didn't make it on to the plane, the newspaper said.
"There were precursor chemicals that had been produced, but we were a long way from having a functioning (device)".
Police allege one of the men who has been charged was put in contact with an IS figure in April.
Mr Phelan said the hydrogen sulphide gas was "very hard to make", adding that "while it may be a hypothetical plot, we were a long way from having a functional device".
Travellers are still being asked to arrive three hours before global flights and two hours before domestic flights for now, although these buffers are expected to be reduced.
The two men, ages 49 and 32, were each charged with two counts of acts done in preparation for or planning a terrorist act.
The two men who have been charged are scheduled to appear in court later on Friday.
The group were also working on a second plot involving a "highly toxic" gas bomb using hydrogen sulphide, the highly poisonous, corrosive, and flammable chemical known as rotten egg gas.
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News Corp reports that passenger could have been "blown up without knowing they were part of a suicide mission".
According to the official statement, more information will be provided about the ongoing investigation "at an appropriate time".
Another man - arrested at Surry Hills - remains in police custody under the "specified time" provisions.
One theory is the group meant to hide a chemical bomb inside a meat grinder on a Gulf-bound aircraft.
The airline is reportedly assisting authorities with their investigation.
On Tuesday, Abdul Merhi, 50, was released without charge.
Mr Merhi's lawyer, Moustafa Kheir, has declared he will review "what basis police had to do what they did" and said his client's life had been "turned upside down". "We are very confident we have extinguished this threat", he said. "It's just unfathomable that he would be associated with anything like this".
"Hydrogen sulphide is very hard to make, so I want to make it quite clear that while it may be a hypothetical plot, we were a long way from having a functional device", Mr Phelan said.
Image copyright Getty Images Image caption Australian Federal Police Deputy Commissioner Michael Phelan: "We believe that certainly we recovered the whole of the IED".
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