Sun PhuQuoc Airways raises capital to 13.3 trillion VND amid expansion plans

Sun PhuQuoc Airways has significantly boosted its financial standing by completing a capital increase, raising its charter capital from 7.3 trillion VND to 13.3 trillion VND. This move, finalized in late May 2026, represents the airline's second capital injection in just over a year since its inception.

The capital expansion has also reshaped the airline's ownership structure, increasing the number of capital contributors from five to ten. Lan Anh - Phu Quoc Co., Ltd. now holds the largest stake at 19.5%. Notable individual investors include Nguyen Xuan Hau (18.47%), Trinh Hai Dong (15.96%), and Huynh Phan Hoang Nhat Thien (14.82%). Additionally, four entities within the Sun Group ecosystem have each acquired a 4.95% stake.

This financial strengthening coincides with Sun PhuQuoc Airways' accelerated operational plans. The airline currently operates 10 aircraft and aims to grow its fleet to 25 by the end of 2026. Beyond domestic routes connecting Phu Quoc with major cities like Hanoi, Ho Chi Minh City, and Da Nang, the airline has expanded its international network to include Taipei, Seoul, Hong Kong, and Singapore, with a new Phu Quoc-Singapore route launching on July 25.

Sun PhuQuoc Airways enters a Vietnamese aviation market poised for heightened competition. While established carriers like Vietnam Airlines and Vietjet operate alongside newer entrants, several other investors, including Masterise and LOTHA Airlines, have also signaled intentions to launch new carriers. Industry experts caution that aviation remains a capital-intensive sector with long return-on-investment periods, susceptible to fuel prices, exchange rates, and airport infrastructure capacity. Sustained success for new airlines like Sun PhuQuoc Airways will hinge on their operational capabilities, cost management, and efficient fleet utilization.