The Civil Aviation Authority of the Philippines (CAAP) has rejected Prime Asset Ventures, Inc.'s (PAVI) unsolicited P21-billion proposal to upgrade and operate Iloilo International Airport. CAAP cited deficiencies in documentation, specifically the lack of an endorsement to the Department of Economy, Planning, and Development (DEPDev), which is required for projects exceeding P15 billion. While PAVI, controlled by the Villars, can refile, the Department of Transportation (DoTr) is leaning towards a solicited mode for the project, structured as an operate-and-transfer scheme for rehabilitation, expansion, operation, and maintenance. This approach allows the government greater flexibility in defining project terms and coverage compared to unsolicited proposals, which bind the government to the initial proponent.