Robin Muir (93), of Queenstown, was the co-pilot for pilot and Wakatipu Aero Club chairman Adrian Snow as the plane in which the pair were flying completed the first official take-off and landing on the runway. Mr Snow described it as "an honour".
"As a pilot, the sealed surface of the runway means much safer operating conditions than the previous grass surface. It's also much more pleasant to land and take off on asphalt for the pilot and passengers.
"The Aero Club welcomes the investment by Queenstown Airport in the runway and its support of general aviation in Queenstown," Mr Snow said.
The main reason behind sealing the previously green runway was to make it better for the airport's seven substantial light-aircraft operators and their passengers.
There had been about 32,000 helicopter and light aircraft movements using the cross-wind runway over the past 12 months. Queenstown Airport is a major base for commercial light aircraft operators conducting "flight-seeing" tours, and a key centre for recreational and professional pilot training.
Queenstown Airport chief executive Steve Sanderson said sealing the runway would "greatly reduce" the number of disruptions caused by weather as well as improve safety.
"In the past, the runway had to be closed frequently due to adverse weather conditions, such as after a heavy frost or heavy rain which could cause flooding."
Air Milford chief executive Hank Sproull said the investment was an "integral part" of the airways system at Queenstown Airport because it meant large, scheduled aircraft and smaller planes could operate "safely and comfortably" together.
"This is the best thing that has happened for flight-seeing operators at Queenstown Airport.
"It's good for our business making our operations much more efficient."
Mr Sanderson said even though it was a "big investment" for the airport, the corporation recognised light aircraft users were a key part of its business and Queenstown tourism.
"A sealed runway will improve their business as well as ours," he said.