Prime Minister approves establishment of Sun PhuQuoc Airways

On May 20, the Government approved the investment policy of the Sun PhuQuoc Airways airline project.

The investor of the project is Phu Quoc Sun Aviation Company Limited, a member ofSun Group. Thus, this group continues to invest in a second airline after launching Sun Air in 2022.

Sun PhuQuoc Airways plans to focus on operating domestic and international flights to Phu Quoc airport (Photo: Ngoc Tan).

If Sun Air focuses on operating aircraft serving business and VIP customers (private jet), Sun PhuQuoc Airways aims to be an airline transporting passengers according to the traditional model, full service, combining regular and charter flights.

As the airline's name suggests, Sun PhuQuoc Airways will focus on exploiting domestic and international tourist flows to Phu Quoc Island.

Sun PhuQuoc Airways’ home airport is Van Don International Airport (Quang Ninh), which is also a BOT airport project owned by Sun Group. In addition, the airline will use Noi Bai, Tan Son Nhat, Long Thanh, Phu Quoc, Da Nang, Phu Cat and Cam Ranh airports to park its aircraft overnight.

According to the scale of the project, Sun PhuQuoc Airways will develop its fleet to 31 aircraft by 2030 (including 21 narrow-body aircraft and 10 wide-body aircraft). The preliminary total investment of the project is 2,500 billion VND, of which the investor's capital contribution is about 1,000 billion VND, the rest is credit capital. The project's operating period is 50 years.

To receive the investment approval decision from the Government, the investor submitted a dossier requesting approval of the project investment policy, going through appraisal steps of the Civil Aviation Authority, Ministry of Construction, Ministry of Finance, appraisal of financial capacity, service capacity of aviation infrastructure...

In the decision approving the investment policy, the Prime Minister requested that the investor take full responsibility before the law and competent authorities for the information and data reported in the project implementation proposal, investment efficiency and committed contents.

Investors must also accept the opinions of the Ministry of Finance and relevant agencies in the project appraisal report; fully implement environmental protection contents; contribute sufficient investment capital as prescribed; organize project implementation in accordance with the provisions of law, without affecting security, national defense and other State management activities in the area.

Regarding existing aviation infrastructure, investors must coordinate closely with the Ministry of Construction and airports to accurately determine the need for overnight aircraft parking locations, ensuring compliance with airport planning and aviation industry development orientation, avoiding affecting the flight network.

According to the approved roadmap, the investor will prepare to invest and apply for a business license to transport passengers by air from March to December, and start operating the first commercial passenger flight from December this year.

Currently, the Vietnamese aviation industry has 6 domestic airlines operating regular flights, including: Vietnam Airlines, Vietjet Air, Bamboo Airways, Pacific Airlines, Vasco and Vietravel Airlines.

Source: https://dantri.com.vn/xa-hoi/thu-tuong-chap-thuan-lap-hang-bay-sun-phuquoc-airways-20250520194149949.htm