Today's five headlines: the global economy and business travel
1. [GCC] Lufthansa Group delays most of its Dubai return until the end of March
SWISS has decided, together with the Lufthansa Group, to keep its Zurich–Dubai flights suspended until the end of the winter schedule on 27 March 2027, instead of resuming on 25 November as planned (SWISS). Lufthansa's Frankfurt–Dubai route and Austrian Airlines' flights from Vienna will also stay suspended until 27 March. Only two routes are due to restart on 25 November: Lufthansa's Munich–Dubai service, five times a week, and Eurowings' daily Berlin–Dubai service (Aviation Week). ITA Airways has also suspended its Rome–Dubai flights until 27 March (LoyaltyLobby). Gulf carriers are moving in the other direction: Emirates now offers Premium Economy to 31 of its 41 European destinations, and flydubai will restart flights to Riga, Salzburg and Vilnius in December (Devo Dubai).
WBTF view: travel managers in Switzerland, Austria, Italy and Frankfurt-based programmes should plan Dubai trips this winter on Gulf carriers or via Munich and Berlin. They should also check corporate airline deals and fares for the routes that have changed. Demand between Europe and Dubai is returning faster than some European capacity.
2. [Europe] The UK economy grows at its fastest pace in two and a half years
Gross domestic product grew 0.7% in the third quarter of 2026, up from 0.5% in the second quarter. It was the strongest quarterly growth since early 2024, according to the Office for National Statistics, reported by Reuters, via The News & Observer. Annual growth rose to 1.9%. The statistics office pointed to strength in industries that may be linked to artificial intelligence, although business investment rose only 0.4%. The Bank of England raised interest rates this month and warned that inflation could approach 5% in 2027. Investors see a 73% chance of another rise in December.
WBTF view: stronger growth supports UK corporate travel demand, but higher rates and inflation keep pressure on travel budgets. Rising UK costs for hotels and meetings should be built into 2027 rate negotiations.
3. [Americas] Brazil's inflation stays above target as its central bank holds rates at 13.75%
Brazil's 12-month inflation rose to 4.63% in October, from 4.58% in September and below the 4.73% that economists had forecast. It remains above the top of the central bank's target range of 3% plus or minus 1.5 percentage points (Reuters, via The Fresno Bee). Banco Central do Brasil last week held its benchmark Selic rate at 13.75%, pausing an easing cycle that began in March. Capital Economics expects inflation to start falling from around March, and says fiscal reform is also needed before the central bank can cut rates again.
WBTF view: borrowing costs this high hold back investment in Latin America's largest economy, and with it the project and sales travel that new investment creates. Companies with teams in Brazil should expect cautious budgets until rate cuts resume, which may not be before March.
4. [Asia-Pacific] Asia-Pacific airlines say fuel now makes up a third of their costs
Fuel now accounts for about 33% of airline operating costs, against IATA's estimate of 25% last year, Association of Asia Pacific Airlines Director General Wong Hong said at the association's assembly in Kuala Lumpur. He warned that "there has to be a breaking point where passengers will say no" (Reuters, via DZRH). Spot jet fuel has eased to about US$148 a barrel, from nearly US$180 at the end of October, but it is still far above the roughly US$85 before the war began in late February. As older hedges expire, Japan Airlines will introduce a domestic fuel surcharge from April 2027, its first. Singapore Airlines' fuel bill rose 56% to S$3.97bn (US$3.09bn) in the six months to September. Wong also urged governments to "pay close attention" to airlines' finances (FlightGlobal).
WBTF view: when fuel is a third of an airline's costs, fares and capacity follow the price of oil. Travel buyers in Asia-Pacific, and those flying there from the Gulf, should expect surcharges and fewer seats in 2027 contracts, and should book early where they can.
5. [Africa] EgyptAir and Liberia sign an agreement on air links and tourism
Liberia's tourism, civil aviation and airport authorities have signed a memorandum of understanding with EgyptAir in Cairo covering tourism promotion, air connectivity, aviation services and medical tourism (Liberia Ministry of Tourism, via MENAFN). The agreement opens the way to explore passenger and cargo routes, aircraft maintenance and technical support for a future Liberian national airline, subject to feasibility studies and regulatory approvals (Aviation Week). No routes, dates or financial commitments have been announced. Egyptian and Liberian officials have since discussed the feasibility of a direct Cairo–Monrovia route (Egyptian Gazette).
WBTF view: connections within Africa remain one of the biggest barriers to business travel on the continent, and many trips between African capitals still route through hubs elsewhere. Partnerships between carriers within Africa are worth watching for companies building West African operations, though this agreement is at an early stage.
Why this matters for WBTF Dubai, 3 February 2027
Today's stories show how unevenly the recovery is moving. Some European airlines are holding back from Dubai while Gulf carriers expand, interest rates are rising in some economies and staying high in others, and the price of fuel is shaping fares from Kuala Lumpur to Zurich. The 4th edition of the World Business Travel Forum, New Horizon, will bring together 70 to 100 senior buyers, travel managers and suppliers in Dubai on 3 February 2027 to plan for this reality. The 4th edition also sets the agenda for the larger annual World Business Travel Forum later in 2027.
There is no business without business travel.