I don't think it'd go as low as 5% in a second lockdown - but the government seem keener to enforce the restrictions now with fines, so maybe it's possible.
As for the 60% in 2022, maybe it's not optimistic but it definitely sounds possible - it is very possible that commuter and business travel is permanently lost to the railway now. Other traffic will still be depressed in 2022 and for years afterwards by the lasting effects of the economic catastrophe.
The world has changed, and sooner or later the new reality will hit the railways. Lines and service levels you could make a case for before are not viable after a 40 or 60% fall in revenue. In the 5% scenario the continued operation of any service would be a bonus.
If we do see rail use still at 60% in 2022 is likely that the very lines which are being talked about being closed which are the ones which recover their passenger numbers the most.
The lines which will see the biggest drops will be those where they are impacted by those WFH the most, they are going to be those in London and the South East rather than Cornwall or the North East.
Having worked at home (and having a job where it's possible to do so) it's certainly better to be back on the office (and I'm not someone who thrives on lots social interactions).
As such although we're likely to see lots more WFH going forwards I suspect that's going to be a lot of people doing so up to 40% of the time rather than people doing so at least 80% of the time.
That's not to say that there wouldn't be significant numbers doing 80% or more, rather they are likely to be in a minority.
Personally I wouldn't be surprised if we saw passenger numbers back to closer to 85% by 2022, with the potential for it to be closer to pre Covid-19 levels than that. As although WFH will impact rail use it will also impact car use and therefore could lead to people switching away from cars for some of their travel.
If there's no vaccine then 60% could be what we're looking at, however that's not going to be even across the country and could be something which was like 30% for London and 80% for everywhere else.
Given that we were at 50% of late then hopefully navy would agree that 60% in 18 months time (especially if there's a vaccine and/or low background numbers of cases) would be a reasonable low estimate but with the potential for it to be higher than that.