I'm a little confused too. I think he is saying he likes the tail portion of the fighter because it is large and an easy target. Perhaps he is confusing the Bloodfang with another figher, like the Sorthak or the Paktahn?
I can't remember if you ever get to face a Bloodfang in an Arrow, though (what did Blair fly in the mission where the Behemoth bit the dust? Was that an Arrow?)
As I recall, in that mission if you engaged Thrakhath you couldn't make it back to the carrier in time (but if you baited him, you could get him to follow you close to the carrier and I think he got shot down once or twice as I tried this, although it has been years and I cannot recall very well).