Well I went to my first air show (fleet week) in San Francisco a couple of weekends ago and didn't have the best of luck getting great pictures. Out of 200 shots this was probably my best and it's not that great. My first and foremost problem was i didn't study! "How to Photograph an Air Show" I just figured I'd use shutter priority and set it at 1/1000 which actually worked fine for a few shots but not all. So the next day i got online and googled "How to Photograph an Air Show" and saw that indeed i did miss a few things that would have helped.
Here are a few links to help you out before you go and shot an air show.