As a continuous and smooth morphing concept for aerofoils, the Fish Bone Active Camber (FishBAC) concept has demonstrated significant aerodynamic efficiency improvements over traditional hinged flaps. In this paper, to investigate the static and dynamic aeroelasticity of FishBAC aerofoils, an unsteady two dimensional coupled fluid-structure interaction model is developed, which includes the structural response of the FishBAC spine, skin, stringers, tendons and actuator, coupled to an unsteady aerodynamics model. The structural dynamic model is Timoshenko beam-theory-based, while the aerodynamic model is based on Peters’ unsteady model. The static and dynamic aeroelasticity is studied after the model is validated. Results show that the increase in pulley rotational angle reduces the zero-lift angle of attack, while keeping the slope between the lift coefficient and angle of attack the same. A shorter morphing region closer to the trailing edge is beneficial for generating larger lift coefficient with the same tendon moment and angle of attack. Flutter occurs with the increase of the air speed. When the morphing end position is fixed at 0.9 chord, increasing the morphing length reduces the critical flutter speed significantly, with the second bending mode tending to drive instability. With the same morphing length, moving the morphing region closer to the leading edge increases the critical flutter speed, and the unstable mode changes from the second mode into the first mode.