The Kidnapping of President Matthew Ellis was a terrorist act committed by Eric Savin on Aldrich Killian's orders. First, he commandeered the Iron Patriot Armor from James Rhodes and, after impersonating him, boarded Air Force One with President Ellis.
During the flight, he locked all of President Ellis' bodyguards and others in a room and killed the rest. He then trapped President Ellis inside the armor, sending him to Killian's headquarters on a decommissioned Roxxon oil-tanker, the Norco. After Savin was defeated by Iron Man, the crew of the plane flew out of it. Iron Man managed to save them.
Tony Stark was assumed dead after his house was destroyed with him inside, but he escaped and managed to fly to Rose Hill, Tennessee. After being attacked by and killing Ellen Brandt, Stark went to Miami, Florida to Aldrich Killian's Mansion. Stark was captured by Aldrich Killian and forced to watch him kill Maya Hansen before escaping.
Eric Savin, in the Iron Patriot armor, boarded Air Force One. Once the plane was in flight, Savin locked up several Secret Service Agents and killed the others. President Matthew Ellis attempted to fight back as well with a fallen pistol, but Savin pinned him down. He then put the armor on him and sent it to Aldrich Killian on a decommissioned Roxxon oil-tanker, the Norco, for a public execution.
Iron Man used his Telepresence Headset to fly his Mark XLII suit to the plane to save the President. The armor arrived too late, but Stark stopped Savin before he could parachute out of the plane. Savin blows a hole in the plane causing all the trapped passengers to fall out of the plane. Stark kills Savin with a repulsor blast from his chest piece through Savin's heart. Stark then uses the armor to save the falling passengers.