Build the Institution Before Scaling the Assets
PAAG's formation strategy is consortium-first. The initial objective is institutional credibility and independent validation — not a multibillion-dollar fundraising announcement. The formation pathway is designed to progressively convert a thesis into an investable institution.
From thesis to institution.
Institutional thesis developed and preserved by founding sponsor PASP.
Independent challenge and refinement of the PAAG concept.
Engagement of relevant aviation, finance and development institutions.
Confidential invitation-only validation and continuation-decision session.
Founding institutions define Phase 0 scope, governance and workstreams.
Independent testing of commercial, regulatory, governance and capital assumptions.
Board constitution, executive recruitment and governance framework.
Development, platform and transaction capital mobilized against validated projects.
Duly constituted institution with independent Board and professional management.
Initial airline, fleet, cargo, MRO or infrastructure transactions executed.
Ecosystem expansion across markets, business lines and capital structures.
From Vision to Institution
The first PAAG Founding Institutional Roundtable is designed as a confidential, invitation-only, two-hour virtual working session. It is not a fundraising roadshow, public conference, ownership negotiation or ceremonial endorsement event.
Does PAAG merit continued collective development and Phase 0 validation?
Welcome, introductions, confidentiality, purpose and decision rules
PASP presentation: PAAG vision, problem, institutional thesis and matters deliberately not predetermined
Industry validation: airline operating reality and cooperation needs
Development-finance and continental relevance
Project development, bankability and SPV discipline
Open institutional challenge: objections, risks and missing evidence
Governance, PASP Founding Sponsor principles and Phase 0
Areas of convergence, modifications, consortium interest and priorities
Explicit disposition, owners, deadlines and closing
No single institution should be asked to validate the entire PAAG concept.
Tests whether the operating problem and cooperation thesis are real.
Tests continental relevance and capital architecture.
Tests whether specific assets can become bankable.
Legal, financial and technical professionals test the institution itself.
Independent governance. Professional management.
PAAG should be built to outlive its founders. In the mature institution, the Board should hold corporate governance authority and professional executives should manage operations. Investors should receive economic, information, voting and Board rights appropriate to their capital and definitive agreements.
- Board holds corporate governance authority.
- Professional executives manage operations.
- Investors receive rights appropriate to their capital.
- Subsidiaries and SPVs have project-specific governance.
- PASP's long-term role is Founding Sponsor and Institutional Vision Steward — not parallel management.