This set would have been from right at the end of my lego playing days (as a child anyway). I don’t have strong recollections of it.
The set has a couple of interesting features: The hovercraft skirt is mimicked using unusual rubber bumpers (2991. 2989, 70961, and 70962), while a special gear (6542) allows the steering column to pass through the middle of the propeller drive train.
At the moment the set is pictured with a small gear at the top of the steering column as I hadn’t noticed that a different rubber part was used on the original, which I have now replaced.