If it's what you've got then go for it.
I shot an airshow in the past with a 70-200 on a 1.3 crop body so with a 1.5x (?) body you should get some good shots.
If you are talking about fairford, then if you can get close to the flight line, you should get a few decent shots. If you are talking Yeovilton, again, close to the fence and you should be good.
I shot both with a 300mm on full frame last year and I didnt want for more reach very often.
I sold my 70-200VR mainly because i found 200 too short. Sometimes it was fine but I think 300 needs to be the min really.








By the way. Would it be ok to use this setup hand held?
I used the 500 hand held and I'm old, but I did have to sit down and rest my arms frequently. I saw some photographers using long lenses on tripods and at times they were almost falling over their gear to get a shot.By the way. Would it be ok to use this setup hand held?