I'm not sure what Skeletor's intentions with the Fright Fighter are. Either he's going to fight by frightening you, or going to fight something frightening. I'm assuming it was one of the days where he didn't take a survey on what to call the newest Evil Warriors vehicle. Or did. Webstor probably spammed the ballot box.
Either way, it's a giant dragon fly.
The Fright Fighter is pretty on brand. The dragon fly plane this has big flapping wings, pinching pincers (in case they want to kidnap Snout Spout), and various lasers for shooting Heroic Warriors from the sky. It's a pretty good looking vehicle as well. A purple and black plane that looks just enough like a dragon fly without being over the top. Which is where the winner takes it all. Apparently in some comic stories, the Fright Fighter is an Evil Horde vehicle. Which makes sense. They could park it behind the Fright Zone and debate if they're fighting frights or fighting with frights.