Pete Nessip (Wesley Snipes) is a US Marshal transporting a prisoner (Michael Jeter) with his brother when the 747 is hi-jacked by Ty Moncrief (Gary Busey) and Jeter escapes. Nessip's brother is killed in the process, so Nessip learns how to skydive in order to catch them, as skydiving is the terrorists' speciality. Good action sequences and breathtaking skydiving stunts makes this definitely one to watch.
If you enjoyed this, I also suggest you try Con Air, Air Force One, Executive Decision and Passenger 57 (also starring Snipes).