The present work is dedicated to the mathematical and numerical modelling of transient air-water flows in pipes which occur in piping systems of several industrial areas such as nuclear or hydroelectric power plants or sewage pipelines. It deals more specifically with the so-called mixed flows which involve stratified regimes driven by slow gravity waves, pressurized or dry regimes (pipe full of water or air) driven by fast acoustic waves and entrapped air pockets. An accurate modelling of these flows is necessary to guarantee the operability of the related hydraulic system. While most of available models in the literature focus on the water phase neglecting the air phase, a compressible two-layer model which accounts for air-water interact...