Virgin Australia's biggest shareholders, Air New Zealand, Etihad Airways, and Singapore Airlines, have upped their stakes in the troubled Australian airline by 4%, lifting their combined position from 63% to 67%.

Switzerland's Dufry is reportedly purchasing the remaining 49% stake in Greek travel retailer Hellenic Duty Free for €328 million. Dufry bought a controlling stake in HDF for €200.5 million last year.

GMR Infrastructure Ltd. has began the process for the $300-$350 million initial public offering it is planing for its airport business. It has reportedly tapped Citigroup, JPMorgan, Axis Capital and Infrastructure Development Finance Company to manage the listing.

New Zealand-based tertiary textbook firm Bennetts Group has bought the assets of travel and accommodation guide publisher Jasons Travel Media in a deal with undisclosed financial details.

Mumbai-based startup Birds Eye Systems raised an undisclosed sum in a Series A round from Matrix Partners India for the expansion of its traffic monitoring brand Traffline.

State-owned China Southern airline has held detailed discussions last year with a consortium of wealthy investors to provide financial backing for the syndicate's stake in Qantas.

Private equity-backed CVC Brasil Operadora e Agencia de Viagens priced its shares at BRL 16 apiece for its IPO today, below its indicated price range of BRL 18 to BRL 22.

HomeAway, a Texas-based online marketplace for vacation rentals bought Stayz Group, the publisher of Stayz.com.au from Fairfax Digital in an all-cash deal worth USD 198 million.

Private equity firm Mayfield Fund confirmed its USD6 million participation in robotics and commercial drone maker 3D Robotics' USD30 million funding round back in September.

Ireland's Ryanair on Tuesday announced that it won't participate in Italian airline Alitalia's EUR300 million emergency cash call. Other carriers including Lufthansa, Etihad Airways, Aeroflot and Alitalia shareholder Air France-KLM have also turned down the deal.