ABSTRACT: We studied the synergistic effect of surfactants on aeration characteristics and long‐term stability of aerated mesophase. It was observed that bubble size and volume of air incorporated (overrun) depend to a small extent on the dynamic film tension and to a greater extent on the viscosity of the mesophase, both properties being functions of surfactant chemistry and concentration. The overrun of the aerated product decreased over time due to the diffusive transport of air to the atmosphere, leading to its destabilization. The relative rate of destabilization of the aerated mesophase (as function of surfactant composition) has been correlated with the diffusion rate of air from the bulk to the surface.