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Risk management has been an essential issue in the evolution of air-force flight safety. In this paper, the investigated risk management of air-force flight training in the Gangshan airbase, Republic of China (ROC) is the main field of study. The main goal of this paper is to conduct a series of risk identification and assessments of the flight training. Firstly, the 16 risk factors (RFs) of flight training were identified according to the related studies of flight safety and risk and three experts’ interviews. Then, we created a fuzzy-analytic hierarchy process questionnaire and interviewed 20 flight instructors to obtain the weight of likelihood and consequence of the 16 RFs. Furthermore, a sequential assessment of the risk matrix was constructed to classify the 16 RFs into four groups, namely, extreme risk, high risk, medium risk, and low risk. As the results of the revised risk matrix, we provided four suggestions for the improvement of flight-training policy. These suggestions not only can facilitate the Gangshan airbase to smoothly transfer and reduce the deadly risk of flight training, but also provide exemplary risk management for other similar airbases.