You have to be a routined photographer if you shoot in M-Mode. The planes are sometimes 400-600 knots fast.
My tip is: Try it out. F wide open, shutter speed faster than 1/1000s (otherwise the plane is unsharp, especially @ faster speed. Iso@ Auto.
Your 100-400 is ok for that, but the "pulling-zoom" is a little bit tricky. On the other side, you can use the 70-200 with an Converter. I use both of these lenses (70-200 2.8, but he 1. version).
If the planes stay far away, AF in oo (endless). If they are in front of you, AF on.
I tried to use spot mode, but that resulted in over&underexposed pictures, especially when there are clouds and a variety of dark and bright situations on the sky. overexposuring +1 was optimal for my Cam in more-field-metering, but you have to try it out with your Cam.
I use the 7D for that, taking RAW pics. With your 5DMkIII it should be no problem changing the brightness etc. in photoshop without loosing much quality.
If there is an airshow, got there some days before the event. Professional teams are often training before the airshow. Then try it out, using M-Mode, etc. and learn to know your Cam.
Sorry for poor English.