It sounds awesome on paper, but it's terrible if trying to land the plane.
The first thing I will do is to reduce the damage when running into something to 50 damage.
Second is to make it when you jump out of plane will punish the player by 16 - 24 seconds until it can be used again.
Third is to make it so it lands properly. Sometimes it says "Perfect landing" but accidently pressing W will cost it to say "Takeoff". This can be diffitcult to land the plane and it will cost you to die or loose the plane.
Increase to fuel to 30 seconds because taking off will cost some fuel making it unfair.
(Optional) Fifth thing is to add a second seat for the plane. This will make it useful for teammate/players to get to one place to another together.