Well as for brilliant airline adverts, I don't think its possible to go past QANTAS' adverts over the last five years. We don't see them too much down here. The budget for the ads was huge, so we tend to only see them during high profile events - but I will admit they do give me goosebumps.
Here is their latest version:
http://www.youtube.com/watch?v=Ka2Zzomkn1o
... and one from a couple of years back:
http://www.youtube.com/watch?v=zdXrUPT5zwE
Virgin Blue also have some good advertisments, quite funny really. These are probably my favourite, but there are heaps more on their website:
http://www.youtube.com/watch?v=nofnBq5ZiHM
(this one was filmed just up the road from their head office in Brisbane)
and
http://www.youtube.com/watch?v=DOBLa3i9HDM
And Jetstar have not had a catchy advert for a while now - they just advertise prices mainly, but their launch ads with 'Magda' (who plays Sharon in 'Kath & Kim') were pretty good:
http://www.youtube.com/watch?v=HL3VcBS9Ti4
(Although I can't help but think that this ad showing just 2 people on the plane - one of them the company mascot - isnt the best indication of loads - oh and also that it may have been more interesting if the middle seat was occupied!)
Of course imho, you cant go past the good old ansett ads - but cant find them!