The Rail Supply Group (RSG) has revealed the findings of a survey set up to get the views of businesses supplying the rail industry on the impact of COVID-19 on their operations.
It comes after the RSG was invited by Government to form a Coronavirus Taskforce to set out a clear path from the current crisis to the fullest, fastest and best recovery for the rail supply chain.
In the report’s Philip Hoare, Chair of the Rail Supply Group and President of Atkins, said: “It’s clear to see that the rail supply chain has been hit hard by the effects of Coronavirus with organisations of all sizes seeing declines in revenue, demand and productivity.
“What also shows is the determination and resilience of the industry to work hard and adapt to the current situation, introducing and adopting new working practices and business plans.
“While confidence levels in surviving the crisis remain optimistic, there are strong messages around the need for greater certainty in areas such as cash flow, immediate payment terms and greater visibility of a work pipeline.
“The majority of organisations anticipate lack of demand and cash flow being significant barriers for their recovery.
“It is clear, for optimism to remain, swift action is needed. Time is not on our side, with confidence falling the longer the impact continues. Which is why the results are now being used to inform our response to managing the coronavirus emergency on behalf of the rail sector’s supply industry.”
Click here to see the survey results.
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