This article is based on an official press release from Sun Group and supporting industry data.

Sun Group Officially Assumes Control of Phu Quoc International Airport Ahead of APEC 2027

In a landmark shift for Vietnam’s aviation sector, Sun Group officially assumed the management and operation of Phu Quoc International Airport (PQC) on January 1, 2026. The transfer marks a significant deepening of the country’s “socialization” policy, moving a critical national gateway from the state-controlled Airports Corporation of Vietnam (ACV) to private administration under Sun Group’s subsidiary, Sun Airport Joint Stock Company (SAC).

According to the official announcement, the handover became effective at 00:00 hours on January 1. The transition was authorized under Decision No. 2405/QD-BXD by the Ministry of Construction and follows the issuance of a new Airport Operation Certificate by the Civil Aviation Authority of Vietnam (CAAV). This move places Sun Group in control of the island’s aviation infrastructure, including runways, taxiways, and terminals, just as the region prepares for a massive influx of global dignitaries.

Operational Transfer and Immediate Priorities

The transfer agreement (No. 01/2025/TT) finalizes the shift of assets from ACV to Sun Airport JSC. While ACV continues to manage the majority of Vietnam’s civil airports, the privatization of the Phu Quoc hub follows the precedent set by Sun Group’s successful development of Van Don International Airport in Quang Ninh.

Government officials have stressed that safety remains the paramount concern during this transition. In statements surrounding the handover, Deputy Minister of Construction Le Anh Tuan emphasized the gravity of the task.

“Ensuring absolute aviation safety is an unwavering principle.”

, Deputy Minister of Construction Le Anh Tuan

A representative from Sun Group stated that their immediate priority is to “ensure safe, stable, and smooth aviation operations” while beginning the process of upgrading passenger service touchpoints to meet international standards.

Strategic Context: The APEC 2027 Mandate

The timing of this takeover is driven by urgent national requirements. Phu Quoc has been selected to host the Asia-Pacific Economic Cooperation (APEC) Summit in 2027. Current infrastructure data indicates the airport is already operating well beyond its design limits, necessitating rapid expansion that the government believes private capital can execute more swiftly.

Addressing the Capacity Crunch

Data regarding the airport’s operational load highlights the necessity for immediate upgrades:

• Design Capacity: 2.65 million passengers per year.
• 2022 Throughput: Over 5.5 million passengers.
• 2025 Projection: Estimated to reach 7 million passengers.

With the airport operating at nearly double its intended capacity, the existing facilities were deemed insufficient for the logistical demands of the APEC Summit.

The “Super Project” Expansion Plan

Sun Group has been approved to lead a comprehensive expansion project with a total investment estimated at VND 22 trillion (approximately USD 900 million). The objective is to transform PQC into a high-class international hub capable of handling 20 million passengers annually by 2030.

Key infrastructure developments outlined in the investment plan include:

• Terminal 2 (T2): Construction of a second international terminal to alleviate congestion.
• Runway Expansion: Extension of the existing runway and the addition of a second runway designed to accommodate wide-body aircraft such as the Boeing 787 and Airbus A350.
• VIP Terminal: A dedicated facility specifically designed to serve APEC 2027 dignitaries and high-profile guests.

Vertical Integration: The “Resort Airline” Model

The airport takeover is supported by the recent launch of Sun PhuQuoc Airways, a strategic component of Sun Group’s ecosystem. Commencing commercial operations on November 1, 2025, the carrier is positioned as Vietnam’s first “Resort Airline.”

According to operational data, the airline launched with a fleet of three Airbus A321NX/CEO aircraft. Aggressive expansion plans aim to grow the fleet to 25 aircraft by the end of 2026. The carrier currently connects Phu Quoc with domestic hubs including Hanoi, Ho Chi Minh City, and Da Nang, as well as international markets in South Korea and China.

AirPro News Analysis

The consolidation of Phu Quoc’s aviation assets under Sun Group represents a masterclass in vertical integration. By controlling the destination (resorts and theme parks), the transport (Sun PhuQuoc Airways), and now the gateway (Phu Quoc International Airport), Sun Group has effectively ring-fenced the tourist experience.

However, this strategy comes with immense pressure. The conglomerate must now balance day-to-day operations for millions of tourists while executing a nearly billion-dollar construction project in under 18 months to meet the APEC deadline. The success of this “socialization” experiment will likely influence future public-private partnerships in Vietnam’s infrastructure sector.

Sources

• Sun Group Official Announcement