The airline will operate a passenger transport model, combining scheduled and charter flights to major tourism and financial hubs in Vietnam and abroad.
To be incorporated with VND2.5 trillion (US$96 million) capital, Sun PhuQuoc Airways plans to have a fleet of 31 aircraft by 2030.
Its maiden flight is scheduled in the fourth quarter of this year and it will fly between southern tourist hotspot Phu Quoc Island and several key domestic and international destinations.
Sun Group also owns Sun Air, a private jet airline for luxury customers.
Vietnam currently has six carriers: Vietnam Airlines, Vietjet Air, Bamboo Airways, Vietravel Airlines, Vasco and Pacific Airlines.
Among them, Pacific Airlines does not accept booking at the time of publishing and instead refers customers to Vietnam Airlines.