Yep, it's George Airde ejecting from the Lightning after a total systems failure on finals. He landed safely after crashing through the roof of the glass-houses of the market garden in the background, and miraculously, was free from serious injury.
George used to fly the (sadly now lost) BAe Mosquito on the display circuit, before retiring, and had some great tales to tell - especially after a couple of pints !
If you've never seen a Mosquito 'cutting the grass', you ain't seen George fly it !