Effectivity of PESO Messaging

Great ideas for PESO messaging and how they all tie together for a consistent narrative.
The elements and justifications are a bit vague and could use a bit more description on how it can target a community. For instance, for Paid - why would a Millennial be more inclined to buy if they say an ad on Facebook or YouTube? If there's something more specific to "always browsing," I'd add it here, too. (Do they follow brands, how much time do they spend on the platforms, why would an ad be effective (other than because they're on them for browsing).
For the Earned section, product reviews on social media would be considered a form of shared media. To shift this into "Earned" territory, write in some aspect of how a PR professional encourage that communication. This includes saying something like "The PR team pitches a story about connecting a frequent flyer to their loved one" or something that indicates how PR helped create media exposure.
For the Shared section - you could try to tweak this to show how AA is using communication to encourage that word-of-mouth. For instance, you could include something like "On each receipt, the following statement will be included: Catching great views from the sky? Share your view from above on Instagram with the hashtag #AAviews" - or something. This could help generate word-of-mouth but it relies on users to share their message.
For earned, I would leave out the word "marketing" since there shouldn't be any paid promotions for this section (solely owned content). Creating email lists to send information works but careful with the word marketing - may imply dollars spent in a campaign.
Great ideas - I would prioritize editing the earned and shared sections. Nice work connecting it all together in the conclusion.