The launch of a new airline is expected to strengthen Phu Quoc Island's position as a major tourism hub in the region.
THE HANOI TIMES — A new airline, Sun PhuQuoc Airways (SPA), is expected to be unveiled soon, marking a milestone for the country's aviation sector and the development of Phu Quoc Island as a premier tourist destination.
Prime Minister Pham Minh Chinh on May 20 approved the investment proposal for SPA, an aviation company under Sun Group, one of Vietnam's leading private conglomerates. The airline will operate with a registered investment capital of VND2.5 trillion (US$96.3 million) and a planned fleet of 31 aircraft by 2030.
Rendered image of the Sun PhuQuoc Airways project.
The airline will focus on passenger transport and charter services, connecting Phu Quoc Island in the southern province of Kien Giang with major economic and tourism centers in Vietnam and abroad.
The first commercial flights are expected to begin in the fourth quarter of this year, increasing the island's accessibility and appeal to both domestic and international travelers.
Sun Group currently operates Sun Air, a private jet charter service catering to a high-end clientele.
With this addition, Vietnam will have seven commercial airlines, including Vietnam Airlines, Vietjet Air, Bamboo Airways, Vietravel Airlines, Pacific Airlines, and VASCO.
THE HANOI TIMES — Vietnam Airlines, the national flag carrier, in its audited report made a record profit of over VND7.9 trillion (US$309 million) in 2024, its highest profit ever, driven by strong revenue growth, particularly a 17.2% year-on-year surge in international revenue amid the global aviation rebound.
Phu Quoc Island is an ideal choice for travel and relaxation, with a visa-free policy for international visitors, allowing foreigners to stay up to 30 days without a visa, rich nature and stunning architecture.
Vietnam’s coffee industry enters 2026 with strong revenue expectations, but shifting global supply conditions and tighter sustainability rules are forcing exporters to adjust strategies and strengthen long-term resilience.
Hanoi has moved to accelerate its transition toward a knowledge-based economy by launching a large digital technology park designed to support innovation, attract talent and promote sustainable development.
Vietnam’s plan to build a high-value semiconductor ecosystem is drawing attention from Dutch giant ASML, one of the world’s most critical chip equipment suppliers, signaling rising confidence in the country’s technology-led growth strategy.
Hanoi leaders are urging enterprises to accelerate innovation, digital transformation, and green growth as the capital targets GRDP growth of at least 11% in 2026, laying the foundation for sustained double-digit expansion through 2030.