Qantas expert says Airline Partners bid is fair

SYDNEY, Feb 12 (Reuters) An .7 billion takeover bid for Australia's Qantas Airways Ltd. by a consortium led by Macquarie Bank Ltd. is fair and reasonable, an independent expert said on Monday.

In a statement issued by the airline, the independent expert said the offer price of A.60 a share is within its valuation range of A.18 to A.98 and any offer above the bottom of that range would be fair value.

Qantas said its board unanimously recommends the offer.

The consortium, Airline Partners Australia (APA), also includes private equity firm Texas Pacific Group [TPG.UL], Allco Equity Partners , Allco Finance Group and Canadian investment firm Onex Corp. .

REUTERS DKS BST0445