Hanoi, May 21 - Vietnam’s Prime Minister Pham Minh Chinh signed Decision No. 979/QĐ-TTg, granting in-principle approval for the establishment of Sun PhuQuoc Airways (SPA), a new airline under the Sun Group, one of Vietnam’s leading real estate and hospitality conglomerates. This development marks a significant milestone for Vietnam’s rapidly growing aviation and tourism sectors, particularly as the country seeks to bolster connectivity to Phu Quoc, a premier island destination often referred to as the “Pearl of Vietnam.” The airline, operated by Sun PhuQuoc Aviation Co., Ltd., a subsidiary of Sun Group, is set to commence commercial operations in the fourth quarter of 2025, with an initial investment of 2.5 trillion VND (approximately 98.81 million USD). This capital will be sourced through a combination of 1 trillion VND in investor equity and 1.5 trillion VND in domestic credit, ensuring compliance with Vietnam’s legal and financial regulations.
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Sun PhuQuoc Airways aims to carve a niche in Vietnam’s competitive aviation market by focusing on commercial passenger transport while also offering charter flights tailored for tourists. The airline’s primary mission is to enhance accessibility to Phu Quoc Island, located in the southern province of Kien Giang, which has emerged as a top-tier global tourism destination, often ranked alongside the Maldives for its pristine beaches and vibrant ecosystems. By 2030, SPA plans to expand its fleet to 31 aircraft, comprising 21 narrow-body and 10 wide-body planes, capable of serving both domestic and international routes. The airline’s operational hub will be based at Van Don International Airport in Quang Ninh, a facility also owned by Sun Group, marking it as Vietnam’s only privately owned airport. Additional airports, including Noi Bai, Tan Son Nhat, Long Thanh, Phu Quoc, Da Nang, Phu Cat, and Cam Ranh, will serve as overnight parking bases to support its operations.
The establishment of Sun PhuQuoc Airways aligns with Vietnam’s post-COVID aviation boom, driven by a population of 100 million and a growing appetite for travel. The airline will compete with established carriers such as Vietnam Airlines, VietJet, Bamboo Airways, Pacific Airlines, Vietravel Airlines, and Vasco, which collectively operate nearly 50 domestic routes and numerous international connections. SPA’s focus on Phu Quoc is strategic, as the island’s international airport, built at a cost of 16.2 trillion VND and operational since 2012, is designed to handle up to 7 million passengers annually, catering to large aircraft like the Airbus A350 and Boeing 747. This infrastructure supports SPA’s ambition to connect Phu Quoc with key economic and tourism hubs in Vietnam and globally, including bustling financial centers and renowned island destinations.
The approval of Sun PhuQuoc Airways underscores Sun Group’s growing influence in Vietnam’s aviation and tourism sectors. The conglomerate, established in 2007 and recognized by the World Travel Awards as Asia’s Leading Integrated Tourism Group, already operates Sun Air, a luxury private jet service launched in 2022. Unlike Sun Air, which caters to high-end clientele with personalized charter services, SPA will adopt a full-service model, blending traditional commercial flights with charter options to attract a broader passenger base. This dual approach aims to capitalize on Vietnam’s tourism growth, particularly in Phu Quoc, where Sun Group has invested heavily in world-class resorts, entertainment parks, and infrastructure projects like the Aspira Tower, a 512 million USD development on Hon Thom Island. The Vietnamese government has tasked the Ministry of Construction with overseeing the project to ensure compliance with regulations on security, national defense, and socio-economic development. The ministry will also monitor the allocation of overnight parking slots at airports to prevent congestion and align with national aviation planning. Sun PhuQuoc Airways is expected to prepare for operations between March and December 2025, securing necessary licenses before launching its first flights. This venture not only strengthens Vietnam’s aviation landscape but also positions Phu Quoc as a more accessible global destination, fostering economic growth and tourism development in the region.