Qantas has received an approach to take it private from a consortium led by Macquarie and Texas Pacific Group. The Sydney-based carrier revealed the approach early today Australian time but said the discussions were at an early stage. There had been market speculation for some days that Macquarie and TPG were preparing a bid of A$5.50 a share, valuing the airline at almost A$11bn (£4.5bn). This compares with a closing price of A$4.35 yesterday. “The approach is confidential and incomplete and is being investigated by Qantas,” the airline said. The potential deal would be one of the largest for Macquarie, which already manages Sydney Airport through its listed funds business and has a long history of involvement in aircraft leasing and financing. TPG also has substantial experience in the airline sector, notably helping to engineer the turnaround at US Airways a few years ago. 

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