Paterno, who erupted for 18 points against the Eagles Tuesday, made only six this time but all when it mattered the most, leading the Flight to a second straight win in the tourney.
The prized player from San Beda himself scored the deciding basket with 9.9 seconds left in the clock.
"Jerome bailed us out again. Hulog siya ng langit sa amin," said Air Philippines coach Lawrence Chiongson.
Alfie Grijaldo, who has just led Tribu Sugbu to the National Basketball Conference title, had a chance to send the game into overtime but missed an undergoal stab at the buzzer.
Grijaldo finished with 11 points, the same number put up by teammates Chico Lanete, Ardy Larong and Toti Almeda.
Granny Goose started out sluggishly but slowly crept into the game, tying the count at 76-all.
Mark Cardona came up with a monster game with 28 points as ICTSI-La Salle walloped Addict Mobile Ateneo, 81-57, in a game marred by the ejection of Eagle Gabriel Espinas.
Espinas was thrown out of the game with less than two minutes left for technical fouls.