Australian national carrier Qantas Airways (ASX: QAN) says it had reached a settlement, subject to court approval, to resolve its liability under a class action in the United States.

The class action brought against a number of airlines regarding the activities of their freight divisions started in 2006.

Under the terms of the settlement agreement, Qantas will pay US$26.5 million, which is based on Qantas' freight revenue to/from the United States. Qantas must also cooperate with the class action plaintiffs.

In exchange, Qantas is released from claims made by all class members who were direct purchasers of air cargo services to or from the US from January 2000 to 11 September 2006.

Separately from the US class action settlement, Qantas continues to cooperate fully with global antitrust regulators and has resolved its liability and that of its current employees in the US, Australia, Canada, Korea and Europe for the improper conduct of its freight division. In each case the fine imposed on Qantas reflected a considerable cooperation discount.

Shares in Qantas fell 1.19 per cent at $2.49, against a flat benchmark index at 1400 AEDT.