The Ministry of Construction will now issue the license, following a report submitted on June 5 after reviewing the Civil Aviation Authority of Vietnam's assessment of the airline's proposal.
This ministry is a merger of the construction ministry and the transport ministry in Vietnam's ongoing administrative restructuring.
The ministry is tasked with ensuring the airline meets regulatory requirements and maintains safety and operational standards.
According to the application, Sun PhuQuoc Airways has secured sufficient resources to operate, including VND1 trillion (US$39 million) in equity, enough to cover aircraft ownership costs during its first five years.
The company plans to begin operations with three aircraft in late 2025 and expand its fleet to 31 by 2030.
The airline will operate under a hybrid model, offering both full-service and premium charter flights.
This approach is expected to broaden Vietnam's aviation offerings and improve consumer choice, especially as the sector experiences a 27.1-percent rebound in international travel in 2024.
Officials said the decision aligns with national goals to promote private sector involvement and raise service quality in the aviation industry.
The Ministry of Construction noted that the Vietnamese aviation market still has significant room for expansion, and Sun PhuQuoc Airways is poised to help meet growing demand.
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