MONTREAL, July 27 (Reuters) - Air Canada 's AC.TO recent offer with partners to buy back a frequent flyer program from Aimia AIM.TO is not a "hostile bid," and if accepted, would accelerate the carrier's "original strategy" of launching its own loyalty program, the airline's chief executive said on Friday.
"The consortium's proposal is not a hostile bid as characterized by some," CEO Calin Rovinescu told analysts, adding Aimia is "entirely free to accept or reject" it.
Air Canada said Aimia has until Aug. 2 to respond to the proposal to buy back the Canadian airline's previous Aeroplan frequent flyer program for C$2.25 billion ($1.72 billion). ($1 = 1.3065 Canadian dollars)