This occurred before Labour took office - Hendy was the chair of Network Rail at the time. However as Starmer appointed him Transport Minister it'll be interesting to see what he does. I think it'll just be swept aside and ignored because they're too focussed on Austerity 2.0
You'd hope so but Starmer's a bit weird - seems to want to look like he's in charge (suspending the seven who voted against the government on the 2 child cap) so it wouldn't surprise me if he tries to brush it off and do nothing. The papers are largely all still with him and I haven't seen this story getting picked up outside Politico so it's possible they'll just agree to spike it and move on :-/
On the other hand he doesn't handle bad press well, let's see how this goes.