(Reuters) - Australian flagship airline Qantas Airways said on Monday it reached a settlement agreement with the country's competition regulator under which it may be obliged to pay A$100 million ($66.06 million) civil penalty in a flight cancellation case.

The penalty would be subject to the approval of Federal Court of Australia, it said in a statement.

($1 = 1.5138 Australian dollars)

(Reporting by Poonam Behura; Editing by Diane Craft)