After its arrival in Christchurch the aircraft made a "courtesy flight" over the South Island and made a 1500ft pass over Dunedin.
The next day it flew low over Wellington and Auckland.
The B707s cut more than 1-hour from the flying time between the two cities, previously served by Electra aircraft.
The inaugural jet service was captained by Ron "Torchy" Uren (left), a legendary Qantas pilot and air force veteran who'd served in the Battle of Bismarck Sea during the Second World War.
Prior to that, Shorts Empire Flying Boats which seated a maximum of 15 passengers and took around nine hours to travel from Auckland to Sydney.
The Christchurch-Sydney service was originally operated twice a week and costed around $170 return. Adjusted for inflation, that would be worth around $1200.
Return fares are now available for as low as $400.
Boeing's 707 is credited with changing the way the world travelled, faster and more affordable. Boeing in the early 1950s initially committed US$16 million to develop a safe and reliable plane in the wake of a series of accidents involving the British Comet passenger jet.
Qantas Co-Founder Hudson Fysh (right) and Lady Fysh were on the inaugural service and it was welcomed by Mayor of Christchurch, Mr G. Manning (left).
It made special long range models for Qantas and delivered 856 of the 707 model between 1957 and 1994.
Air New Zealand joined the jet age later that year. The New Zealand airline took delivery of its DC8 jet aircraft in July, 1965 and began Auckland-Sydney services in November that year.
The 707 and competitor the DC-8 looked the same but the Boeing plane had had more sweepback which Boeing says allowed it to fly 32kph faster.
The first Qantas jet flight to New Zealand was welcomed by 10,000 locals.
Qantas International chief executive Gareth Evans said the 50-year milestone highlighted Qantas' ongoing commitment to New Zealand.
"Qantas is proud of its flying history across the Tasman and New Zealand remains an important part of our international network," said Evans.
The Qantas cabin crew uniforms from 1964-1969.
The twice weekly jet services have evolved to a schedule of more than 200 flights per week, mostly operated by our fleet of next generation Boeing 737-800 aircraft.
A Qantas print advertisement from 1965.
Qantas today operates more than 200 flights per week between Australia and New Zealand, including non-stop services between Sydney, Melbourne, Brisbane and Auckland, Sydney, Melbourne and Wellington and Sydney and Christchurch.
Qantas operates daily services between Sydney and Christchurch and a daily codeshare service with Emirates.
