A corner of Phu Quoc Airport.
The approval was granted on May 20 and marks Sun Group’s second venture into the aviation industry, following the launch of Sun Air in 2022. Sun Air focuses on private jets and business-class services. At the same time, Sun PhuQuoc Airways is designed to operate as a full-service commercial airline, offering scheduled and chartered passenger flights.
As its name suggests, Sun PhuQuoc Airways aims to attract domestic and international tourists to Phu Quoc Island, a major travel destination in southern Vietnam.
The airline’s main base will be at Van Don International Airport in Quang Ninh Province, a build–operate–transfer (BOT) airport owned by Sun Group. It will also use several key airports for overnight aircraft parking, including Noi Bai, Tan Son Nhat, Long Thanh, Phu Quoc, Danang, Phu Cat and Cam Ranh.
According to the investment plan, Sun PhuQuoc Airways is expected to operate up to 31 aircraft by 2030, including 21 narrow-body and 10 wide-body planes. The total estimated investment is VND 2,500 billion, with VND 1,000 billion in equity contributed by the investor and the remainder financed through credit. The project has a planned operational term of 50 years.
To secure approval, the investor submitted a detailed proposal that was assessed by the Civil Aviation Authority of Vietnam, the Ministry of Construction, and the Ministry of Finance. These evaluations included financial capacity and airport infrastructure readiness.
In the approval decision, the prime minister emphasised that the investor is fully responsible before the law and relevant authorities for the data accuracy and commitments outlined in the proposal. The investor must also comply with environmental protection requirements, contribute the committed capital in full, and implement the project in accordance with legal regulations. The implementation must not affect national defence, security, or other state management activities.
Regarding aviation infrastructure, the investor must coordinate closely with the Ministry of Construction and relevant airports to determine overnight parking needs, ensuring alignment with the national airport master plan and broader aviation development strategies.
According to the approved timeline, the investor will complete investment preparations and apply for an air transport business licence between March and December, with the first commercial passenger flight expected to take off in December.
Vietnam’s domestic airline aviation market currently comprises Vietnam Airlines, Vietjet Air, Bamboo Airways, Pacific Airlines, Vasco, and Vietravel Airlines, which operate scheduled passenger flights.