#Vietnam #Toyota Tsusho #Quang Ninh #HAECO #SUN GROUP

Major Collaboration for Aircraft Maintenance in Vietnam

On June 16, 2026, four prominent companies—Hong Kong Aircraft Engineering Company Limited (HAECO), SUN GROUP CORPORATION (Sun Group), Toyota Tsusho Corporation, and Japan Airlines (JAL)—announced a significant joint venture to establish a comprehensive aircraft Maintenance, Repair, and Overhaul (MRO) facility at Van Don International Airport in Quang Ninh province, Vietnam. With an investment totaling $360 million, this initiative is set to establish what will become one of Vietnam's largest aircraft maintenance hubs by 2028.

Project Overview and Contributions

The new MRO facility will be strategically located on a 20-hectare site within the airport, capable of accommodating four wide-body and two narrow-body aircraft simultaneously. This collaboration will harness the unique strengths and expertise of each of the four companies, aiming to meet the surging demand for air travel in the Southeast Asian region while providing high-quality MRO services aligned with international standards.

• - HAECO: Renowned for its advanced maintenance techniques and operational know-how as a leading global MRO provider.
• - Sun Group: An established player in Vietnam's aviation sector, specializing in airport infrastructure development and related services.
• - Toyota Tsusho: Leveraging its extensive experience in global supply chain management and alliance operations.
• - JAL: Bringing its commitment to safety and quality, along with training and operational expertise.

Market Context and Significance

Southeast Asia stands as one of the fastest-growing aviation markets globally, and Vietnam is poised to witness a significant surge in aircraft maintenance demands. According to the Civil Aviation Authority of Vietnam, the country's MRO market could reach approximately $7.4 billion by 2030. However, the current MRO capabilities within Vietnam are insufficient to keep pace with the increasing demand, as much of the MRO functions are concentrated in neighboring countries such as Singapore, Malaysia, and Thailand.

This project aims to mitigate these challenges by enhancing Vietnam's aircraft maintenance capabilities, fostering technical self-reliance and, ultimately, bolstering the nation's aviation infrastructure.

Additionally, the Quang Ninh province and the Van Don region are increasingly recognized as new growth centers actively promoting tourism, services, logistics, and high-value industries. Establishing this facility is expected to generate local employment opportunities and stimulate related sectors, contributing to the overall economic development of the region.

Future Prospects

The establishment of this MRO facility will significantly elevate Vietnam's aircraft maintenance capabilities to international standards. It positions Vietnam to engage more profoundly in the global aviation value chain and tap into areas of greater value addition. Through this joint venture, the four companies aim to integrate aviation infrastructure, maintenance technology, operational expertise, and industrial networks, thereby contributing to a sustainable aviation ecosystem and the development of a safer, more reliable air travel environment.

About the Companies Involved

• - HAECO: Founded in 1950, HAECO Group is one of the world’s leading providers of aircraft maintenance and engineering services, offering comprehensive solutions ranging from airframe and line maintenance to landing gear and engine services. The group employs around 15,000 individuals across 14 subsidiaries in Hong Kong, mainland China, Europe, and the Americas. For more details, visit HAECO's website.

• - Sun Group: Established in 2007, Sun Group is one of Vietnam's largest private enterprises, operating in various sectors, including tourism, entertainment, hospitality, and aviation. The company aims to enhance Vietnam's socio-economic development and improve international access. Visit Sun Group's website for more information.

• - Toyota Tsusho: A member of the Toyota Group, Toyota Tsusho Corporation operates globally in various sectors such as metals, circular economy, supply chains, mobility, green infrastructure, and digital solutions. For further insights, check out Toyota Tsusho's website.

• - Japan Airlines (JAL): Founded in 1951, JAL is a member of the oneworld® alliance and operates a vast network to 71 countries and 413 airports globally. Known for its commitment to safety and quality, JAL continues to strive towards the realization of its vision for the future of travel. More information can be found at JAL's website.