HANOI, May 21, 2025 (BSS/AFP) - Vietnam has approved the establishment of a new airline, Sun PhuQuoc Airways, which aims to have a fleet of more than 30 aircraft by the end of the decade, parent company Sun Group said Wednesday.

The communist country's aviation sector has boomed in recent years thanks to a rapidly expanding middle class with growing appetites -- and budgets -- for travel.

Sun PhuQuoc Airways (SPA) will focus on bringing more international visitors to Vietnam's southern Phu Quoc Island, a popular destination among both local and international tourists, a Sun Group statement said.

But it will also target other "major tourism and business destinations in Vietnam and around the world", the statement added.

Almost $100 million will be invested in the airline, which plans a fleet of 31 aircraft by 2030.

The first commercial flights are scheduled for the fourth quarter of this year.

Sun Group is a powerful real estate and entertainment company that has many prominent developments across the country.

Vietnam's aviation sector is dominated by national flag-carrier Vietnam Airlines and budget airline Vietjet, while smaller players include Bamboo Airways and Vietravel Airlines.