Trevor Carpenter is the expert here. Anything he says, I would follow closely.
Regarding airshows in general, I have a few tips, which may or may not work for you, as my venues at small regional airports in the United States are quite different than IWM Duxford, but the tips probably apply to any photography. Most of my shooting was with WWII bombers such as the B-17, B-24 and B-29. Single engine planes, not so much, too fast, too small for me.
Neutral density filter for propeller driven aircraft because there is so much light, and you want to keep from shooting at f/16 all the time.
Shutter priority so you keep your shutter speed low for a moving object, so that you can get a prop blur, 1/125 for more of a disc, and up to maybe 1/320 max, but at that speed or higher, you risk almost freezing the prop, which makes for the look of a propeller driven airplane in trouble.
Exposure compensation, +1 stop, or more depending on the lighting. The camera will meter the bright sky and underexpose the aircraft.
Panning is a critical skill, especially when shooting such slow speeds, 1/125, 1/200, 1/250
Back button focus. I set up my GX7 for back button S-AF so that I can always focus the target and release the shutter whenever, not dependent on finding focus before the shutter releases.
Speaking of shutter, make sure you are on mechanical shutter, made the mistake of forgetting to turn off silent shutter....
Speaking of focus, it depends again on the subject and background. I tend to use a larger, center box, or multi segment focusing. If you have a lot of trees and stuff in the background, vs sky, stick to the center box. Never use pinpoint, as contrast will be an issue with blue sky and white clouds.
I don't have a great big buffer, so I use medium burst mode to make the most of a pass, and to get a live view feed back. You get very little EVF feedback in the GX7 if you are in high speed burst, so the target will get lost as you are panning.
I shoot small JPEG + RAW because my old 45-200 Panasonic is just not that great a lens beyond 150, and I am not skilled enough to always expose correctly, so I am generally working in RAW to bring up the shadows on shots that I like, so I need the most help I can get.
It is really hard to get shots as Trevor has done. But good luck and have fun with that great lens.
Practice if you can before you go, at a local airstrip. Use The Photographers Ephemeris and Google Maps to scope out potential locations so you are not shooting into the sun, which makes life much more difficult. Google Maps for us is useful because I thought I had found a great place, only to find that it was well below grade of the runway, and really awful. Had I used the Google Street View, i would have clearly seen that.
By the way, for static shots, get close if you can, or zoom, shoot from low angles. Nothing worse than an airplane wing with tree growing out of it. A lower angle and you can get blue sky instead...
Most of this is rookie stuff, but there you have it.