Here is an overview of the game, via Ziggurat Interactive:

About

Originally developed in 1995 by Terminal Reality (the creators of the BloodRayne franchise, led by the former lead developer of Microsoft Flight Simulator), and published by 3D Realms (Duke Nukem), Terminal Velocity was critically praised for its exhilarating, high-speed action gameplay and cutting-edge graphics. Updated for modern platforms, Terminal Velocity: Boosted Edition will include smoother gameplay, upscaled graphics, a fast frame rate, and improved sound, as well as achievements and trophies—a first for the game!

In Terminal Velocity: Boosted Edition, players will strap themselves into a fully decked-out fighter ship and battle through nine enemy-plagued planets across the galaxy. Set in the far future, the Earth is under siege as adversarial armadas from the surrounding systems have begun to strike. As a top-flying ace from the Ares Squadron, players will take control of the fastest—and most dangerous—aircraft ever made. Outgunned and outmanned, only a true fighter can make it out alive!

Unique to most flight simulators, Terminal Velocity: Boosted Edition puts combat at the forefront. With low inertia flight mechanics that allow players to bank, roll, and loop easily across treacherous maps, and a straightforward control layout, they’ll be thrust bow-first right into the action. To support them in battle, they’ll have access to seven destructive weapons and multiple power-ups to conquer deadly enemy fighters in the air and on the ground. They’ll feel the ultimate power of flight as they take to the skies and soar through realistic environments and put their aerial skills to the test as they travel through dozens of tunnels and underground caverns. It’s all about action, speed, and destruction!

Key Features

• Updated for Modern Platforms – Experience the fast-paced action updated for modern platforms. Boosted Edition includes fast-texture mapped 3D flight with full 360-degree movement and 360-degree audio sounds, making for smoother gameplay, upscaled graphics and improved sound!
• New Challenges – A first for the franchise, achievements and trophies have been added, which add a slew of new challenges to face and keep players coming back for more!
• A Whole Galaxy to Explore – With over 40,000 square miles of terrain and dozens of tunnels, players will battle across nine totally unique planets, each containing three levels of heart-pounding dogfights and perilous obstacles to avoid.
• Death From Above – As players soar their way across each world, they’ll obtain seven destructive weapons, and look for life-saving (and enemy-crushing) power-ups, to help them engage in vicious air-to-air and air-to-ground combat.

Watch the teaser trailer below. View the first screenshots at the gallery.

Teaser Trailer