An airway stent graft includes a plurality of openings through the surface of the graft material and one-way valves at the openings to permit air from outside of the stent graft to enter a lumen thereof during exhalation and to prevent air from exiting the lumen through the openings during inhalation. The stent graft may be of variable length such that the stent graft may be cut to the desired length in vivo. A delivery system includes a cutter assembly to cut graft material of the stent at the desired location in vivo.
