Vietnam's Sun Group injects 1 trillion dong into new leisure-focused airline
[HO CHI MINH CITY] Vietnamese real estate and hospitality giant Sun Group has launched its leisure-focused airline, Sun PhuQuoc Airways (SPA), with an equity contribution of 1 trillion dong (S$49.2 million).
The amount is part of a total investment of 2.5 trillion dong for the 50-year project. The developer said SPA plans to start ticket sales by October.
With an air transport licence issued by Vietnam's Ministry of Construction, the airline – named after the country's largest island and tourist hot spot in the south – is set to operate both commercial and charter flights.
It will connect Phu Quoc with major cities within and beyond Vietnam, including markets currently lacking direct air links such as Russia, the Middle East, Central Asia, and Australia.
SPA is developing a hub-and-spoke network model centred on Phu Quoc, with a focus on 'leisure aviation' – that is, air travel primarily for recreation, tourism and holiday purposes.
While the island will serve as the airline's central hub, its main operations will be in Van Don International Airport in the northern province of Quang Ninh – home to Ha Long Bay, also one of Vietnam's most iconic tourist destinations.
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The new airline is part of Sun Group's integrated ecosystem in Phu Quoc, which encompasses integrated resorts, high-end residential projects and entertainment complexes.
In 2022, the hospitality giant opened luxury airline Sun Air, which offers high-end private services via its fleet of ultra-luxury business jets, helicopters and seaplanes.
SPA said it is in talks with Boeing to purchase aircraft, and will use narrow-body planes from Airbus for its early operations. A Vietnam News Agency report last month showed that SPA aims to have a fleet of 31 aircraft by 2030.
Sun Group chairman Dang Minh Truong said the new airline 'represents a strategic pillar in our vision to build a world-class ecosystem of tourism, resorts, entertainment and aviation.'
Phu Quoc's international airport is slated for a major upgrade ahead of the 2027 Asia-Pacific Economic Cooperation (Apec) forum, which will be held on the island. It is slated to handle up to 18 million passengers annually, 4.5 times its current capacity.
Sun Group's new airline is expected to ease transportation pressures during the event and boost tourism on the island, accommodating thousands of delegates, top leaders and business executives from the 21 Apec member economies.
SPA will operate alongside other home-grown airlines, including flag carrier Vietnam Airlines, budget airline VietJet Air, Bamboo Airways and Vietravel Airlines.
The country welcomed 9.2 million international arrivals in the first five months of 2025, representing a 21.3 per cent year-on-year increase, according to the National Statistics Office.
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