This is the one time I suggest Cheating.
Before you attempt the mission, try JUMPJET to spawn the Hydra, then you may practice flying without the pressures of the mission.
After practice when doing the actual mission:
1. Blow up Jet in the hanger deck and on the Port side lift. You now will have only one Chase jet to deal with. (Note: you can destroy the one on the Flight deck (all three) but the game will crash. The game requires one enemy jet to continue the mission.)
2. Take the Jet on the fantail lift.
3. Rotate the jet when it reaches the flight deck to face forward.
4. Put the plane in forward flight mode.
5. Take off, Raise landing gear.
6. Climb, until conversation starts.
7a. OPTION: Put jet in hover mode and spin pressing the targeting key and firing the Rockets alternately while spinning, until the Chase Jet is destroyed.
7b. OPTION: Land (put the landing gear down) under the bridge. The Chase Jet will crash into the bridge.
8a. OPTION: Attack the boats with the Jet.
8b. OPTION: land (put the landing gear down) the jet on the runway at the Verdant Meadows, then drive or fly the Hunter 'copter to the lake.
9. Destroy the boats with the Heat Seeking Missile Launcher, or any other weapon.
10. Return to the Aerodrome and taxi the Hydra into the marker.
11. Collect the 50,000$ and save.