This thesis presents a theoretical investigation of interfacial flows behaviour and their interactions with surrounding perturbation fields in the conditions typical of aerodynamic applications. An analytical method is formulated to extend the fluid stability theory to viscous multi-fluid flows, focusing on surface tension effects. Liquid surface tension is modelled by utilising the pressure jump across the interface which occurs due to viscosity contrast between two fluids while in motion. This work is restricted to the cases where viscosity and density ratios of fluids are small. The conditions which indicate whether a flow is stable or unstable are found by deriva- tion of dispersion equation. The stability analysis of different flow re...