llSetVehicleType(VEHICLE_TYPE_AIRPLANE);
// other parameters
llSetVehicleFloatParam(VEHICLE_HOVER_HEIGHT, 3.0);
llSetVehicleFloatParam(VEHICLE_HOVER_EFFICIENCY, 0.3);
llSetVehicleFloatParam(VEHICLE_HOVER_TIMESCALE, 5.0);
llSetVehicleFlags(VEHICLE_FLAG_HOVER_UP_ONLY);
As I read the documentation, this should give you an aircraft type vehicle that also behaves like a hovercraft when you get near the ground, but VEHICLE_FLAG_HOVER_UP_ONLY there shouldn't be any force pushing it down to the hover height, so if your linear motor is strong enough and you pull back you should lift from the ground again. In fact it doesn't matter whether VEHICLE_FLAG_HOVER_UP_ONLY is set or not, you have to clear VEHICLE_HOVER_HEIGHT to get airplane behavior again.
This has been confirmed by Gaius Goodliffe in SVC-1567.