Sun Group's airline is the newest entrant in the Vietnamese aviation market. At a contract signing ceremony on 8/9 for ground services and cargo handling with several subsidiaries of Airports Corporation of Vietnam (ACV), Nguyen Manh Quan, CEO of Sun PhuQuoc Airways (SPA), explained the reasons behind Sun Group's decision to launch the airline and name it after Phu Quoc island.

SPA CEO Nguyen Manh Quan speaks at the event on 8/9. Photo: Anh Tu

SPA CEO Nguyen Manh Quan speaks at the event on 8/9. Photo: Anh Tu

Nguyen Manh Quan stated that several key factors led to the creation of Sun PhuQuoc Airways. For Sun Group, it represents the final component in their ecosystem, which encompasses tourism, resorts, entertainment, infrastructure, and real estate.

The CEO also explained that the airline's name reflects Sun Group's aspirations and commitment to national development, with a particular focus on helping Phu Quoc reach its full potential. "Looking around, Phu Quoc is no different from Phuket, Bali, or Jeju. But Phu Quoc's potential is yet to be fully realized," Quan explained.

This marks the first time in Vietnam that an airline has been named after an island. Phu Quoc is currently a special administrative-economic unit under An Giang province and has been selected to host APEC 2027. Sun Group has several major real estate and tourism projects in the area and is also the investor behind the Phu Quoc International Airport expansion project.

Finally, Quan emphasized the importance of consumer choice. The SPA CEO pledged to provide the Vietnamese aviation market with a high-quality alternative before expanding internationally. The airline aims to offer passengers a seamless and comprehensive experience before, during, and after each flight.

One of Sun PhuQuoc Airways' first aircraft arrives at Noi Bai Airport in August. Photo: SPA

One of Sun PhuQuoc Airways' first aircraft arrives at Noi Bai Airport in August. Photo: SPA

There have been times when the tourism sector faced challenges due to domestic airlines reducing flights and frequency to Phu Quoc, leading to increased airfares and limited access for domestic tourists.

Bui Tuan Anh, CEO of Saigon Ground Services Joint Stock Company (SASG), believes that the launch of Sun PhuQuoc Airways is expected to diversify the market and provide customers with more options. He also noted that it will increase competition and improve service quality within the airline industry.

Sun Group's airline enters the market as the Vietnamese aviation sector experiences renewed growth. In the first half of this year, passenger traffic reached 41.3 million, a 10% increase compared to the same period in 2024. International arrivals to Vietnam reached 12.2 million in seven months, up nearly 23% compared to the same period in 2024 and 25% compared to pre-pandemic levels in 2019.

However, domestic travelers currently have limited choices. The full-service segment is almost entirely controlled by Vietnam Airlines after Bamboo Airways' decline. In the low-cost carrier (LCC) segment, Vietjet holds a significant market share after Pacific Airlines returned its aircraft, while Vietravel Airlines is in the process of rebuilding its resources.

Having received its Air Operator Certificate in mid-June, SPA aims to start ticket sales next month and commence its first commercial flight in November.

Sun Group's airline plans to connect Phu Quoc with major domestic economic and tourism hubs like Hanoi, Ho Chi Minh City, Da Nang, and other key cities. Subsequently, they will expand to international destinations such as China, Japan, and South Korea.

Sun PhuQuoc Airways received its first A321 aircraft in early August. Shortly after, the airline received two more A321 CEO aircraft. They plan to acquire five more aircraft by the end of the year.

Anh Tu