Australia's Qantas Airways said on Friday it has agreed to settle a class action ​related to flight credits issued during the COVID-19 ‌pandemic for A$105 million ($74.26 million), with no admission of liability.

Here are some details:

• The settlement, subject to approval by the Federal Court of Australia, relates to flights scheduled to depart between January 2020 and November 2022 that were cancelled by the airline.
• The settlement is higher than ​the A$55 million provision that Qantas Airways mentioned in ​its latest half-year results in February for the flight credits class action.
• Australia's flag carrier said any additional settlement-related charge would be recognised ​outside underlying earnings in the second half of ​fiscal 2026, which would have an impact on net earnings.
• Echo Law, ‌which ⁠brought the class action on behalf of affected customers, said on its website that the parties had agreed to settle the case.
• The lawsuit, filed in August 2023, included ​allegations that Qantas ​breached contractual ⁠obligations by failing to provide refunds for cancelled flights during the pandemic.
• In August 2023, ​Qantas removed the expiry date on flight ​credits ⁠issued during the pandemic, allowing customers to request a cash refund indefinitely.
• The airline said the settlement amount would be ⁠paid ​to a court-approved administrator, with payment ​currently expected in the first half of fiscal 2027.

($1 = 1.4140 Australian ​dollars)